Dropbox Investor Presentation Deck

Strong Performance at Scale $1,661 2019 $1,914 2020 $2,158 Revenue ($M) 2021 $392 2019 $491 2020 $708 2021 Free Cash Flow ($M) 76% 2019 79% 2020 81% 2021 Non-GAAP Gross Margin 12% 2019 21% 2020 30% *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. 2021 Non-GAAP Operating Margin 25

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