Dropbox Investor Presentation Deck

Strong Performance at Scale $1,914 $1,661 T|[] 2019 $1,392 2018 $2,139 2020 2021E Revenue ($M) $362 $392 $491 $720 2018 2019 2020 2021E Free Cash Flow ($M) 75% 76% 79% 80% 2018 2019 2020 2021E Non-GAAP Gross Margin 21% 12% 12% iil 2018 28.8% 2019 2020 2021 E Non-GAAP Operating Margin *Note: Non-GAAP gross margin and non-GAAP operating margin exclude stock-based compensation expense and certain non-recurring adjustments. Free cash flow is GAAP net cash provided by operating activities less capital expenditures. See appendix for non-GAAP reconciliation. * 2021E based off the midpoint of company guidance 24

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