Snap Inc Results Presentation Deck

Cost of Revenue¹ (in millions, unaudited) COST OF REVENUE AS A % OF REVENUE Gross Margin¹ 81% 19% 79% Q2'17 64% 36% [H 21% 17% Q3'17 -15 PPTS Q4'17 83% 70% Q1'18 30% Q2'18 64% 36% Q3'18 Total Non-GAAP Exclusions¹ COST OF REVENUE COMPOSITION Infrastructure Cost Revenue Share Cost Other $147 $18 $23 $106 Q2'17 $5 $163 $21 $22 $121 Q3'17 $47 $184 $25 $28 $131 Q4'17 $7 ¹Excludes stock-based compensation expense and related payroll tax expense (SBC-Related Expense), depreciation and amortization (D&A Expense), and certain other non-cash or non-recurring items impacting net income (loss) from time to time. +17% $191 $20 $32 $139 Q1'18 $5 $184 $25 $24 $136 Q2'18 $8 $191 $25 $26 $140 Q3'18 COST OF REVENUE INCREASED 17% YOY AND 3% QOQ, WHILE REVENUE INCREASED 43% YOY AND 14% QOQ FOCUSED ON OPERATIONAL EFFICIENCIES AND UNIT COST ECONOMICS WHICH DRIVE MARGIN EXPANSION $7 11

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