SNAP

• Second quarter 2026 revenue was $1,599 million, a 19% increase from $1,345 million in the prior year.
• Adjusted EBITDA rose to $250 million from $41 million year-over-year.
• Operating cash flow was $176 million and Free Cash Flow was $121 million for the quarter.
• The company reported 971 million monthly active users and provided Q3 2026 outlook during its earnings call.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Snap Inc. will hold its 2026 annual meeting of stockholders virtually on July 30, 2026 at 2:00 p.m. Pacific time.
• Only holders of Class B and Class C common stock as of June 26, 2026 record date are entitled to vote; Class A holders are not.
• Evan Spiegel and Robert Murphy, holding over 99% of voting power, intend to vote FOR both proposals by written consent, so approval is expected before the meeting.
• The filing was made under Item 8.01 to notify stockholders of the meeting and the written consent process, with the information statement attached as Exhibit 99.1.

8.01 Other Events · 9.01 Financial Statements and Exhibits

• On May 20, 2026, Snap's board increased its size from twelve to thirteen members and appointed Luke Wood to the new vacancy.
• Wood will serve until the next annual stockholder meeting, a written consent action in lieu of a meeting, or his death, resignation, or removal.
• Wood has not been appointed to any board committees and has no family relationships or material interests requiring disclosure.
• Wood will be compensated under Snap's Non-Employee Director Compensation Policy.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits

• First quarter 2026 revenue was $1,529 million, a 12% increase from $1,363 million in the prior year.
• Adjusted EBITDA more than doubled to $233 million from $108 million in the prior year.
• Operating cash flow was $327 million and Free Cash Flow was $286 million, both up significantly year-over-year.
• Global Daily Active Users grew 5% year-over-year to 483 million, and Monthly Active Users reached 956 million.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Andersen confirmed his decision is not related to any disagreement with Snap on accounting, strategy, management, operations, policies, or practices.
• Snap plans to appoint Doug Hott, current VP of Finance, Strategy, and Corporate Development, as the new CFO.
• Hott has been VP of Finance, Strategy, and Corporate Development since July 2024, and previously served as VP of Finance from August 2019 to July 2024.
• Hott has no family relationships with Snap's board or executive officers, and no reportable related transactions under Item 404(a).

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements

• Estimated Q1 2026 adjusted EBITDA of approximately $233 million.
• Plan to reduce global headcount by approximately 16% of full-time employees, affecting about 1,000 team members and closing over 300 open roles.
• Expected pre-tax charges of $95 million to $130 million, with $75 million to $100 million in future cash expenditures, mostly in Q2 2026.
• Expects to reduce annualized cost base by more than $500 million by the second half of 2026.

2.02 Results of Operations and Financial Condition · 2.05 Costs Associated with Exit or Disposal Activities · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Q4 2025 revenue was $1,716 million, a 10% increase from $1,557 million in Q4 2024.
• Q4 2025 Adjusted EBITDA was $358 million, up from $276 million in Q4 2024.
• Full year 2025 revenue was $5,931 million, an 11% increase from $5,361 million in 2024.
• Board authorized a stock repurchase program of up to $500 million of Class A common stock.

2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• On December 4, 2025, Snap's board approved increasing its size from eleven to twelve members and appointed Matthew McRae to the new vacancy.
• McRae will serve until the next annual stockholder meeting, a written consent action in lieu of a meeting, or his death, resignation, or removal.
• He has no family relationships with Snap directors/officers and no material interest in transactions requiring disclosure under Item 404(a).
• McRae will be compensated under Snap's Non-Employee Director Compensation Policy and has not been assigned to any board committees.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits