Dropbox Investor Presentation Deck

Strong Performance at Scale $1,392 2018 $1,661 $1,914 $2,150 2019 2020 2021E Revenue ($M) $362 $392 $491 $715 75% 76% |ii| 2018 2019 2020 2021E 79% Free Cash Flow ($M) 80.5% 2018 2019 2020 2021E Non-GAAP Gross Margin 12% 12% 2018 2019 21% *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 29.5% 2020 2021 E Non-GAAP Operating Margin 25

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