Snap Inc Results Presentation Deck

Adjusted Operating Expense Margin and Adjusted Operating Expenses¹ (dollars in millions, unaudited) Adjusted Operating Expenses as a % of Revenue ADJUSTED OPERATING EXPENSE MARGIN¹ 59% Q4'21 41% 45% Q1'22 55% 40% Q2'22 60% - 1 PPT 46% Q3'22 54% 54% Q4'22 46% 44% Q1'23 56% Total Non-GAAP Exclusions Total GAAP Operating Expenses ADJUSTED OPERATING EXPENSES¹ COMPOSITION $530 $141 $189 $199 Q4'21 $344 $874 Research & Development General & Administrative $586 $161 $189 $235 Q1'22 $328 $913 $665 $199 $212 $255 Q2'22 $400 $1,065 - 6% $610 $174 Sales & Marketing $192 $244 Q3'22 $487 $1,097 $599 $151 $217 $231 Q4'22 $507 $1,106 $553 ADJUSTED OPERATING EXPENSES DOWN $112 MILLION FROM Q2 2022, IN LINE WITH $450 MILLION REDUCTION IN ANNUALIZED ADJUSTED OPERATING EXPENSES ANNOUNCED IN Q3 2022 $148 $206 $200 Q1'23 $361 $914 'Adjusted operating expense margin is a non-GAAP measure, which we define as GAAP revenue less adjusted operating expenses, divided by GAAP revenue. Adjusted operating expenses is a non-GAAP measure and excludes stock-based compensation expense, payroll and other tax expense related to stock- based compensation, depreciation and amortization, and certain other non-cash or non-recurring items impacting net income (loss) from time to time. In Q3 2022 and Q4 2022, non-recurring items included restructuring charges of $141 million and $27 million, respectively. See Appendix for further detail. Numbers throughout presentation may not foot due to rounding. 11

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