20 Pro-forma FY+1 EPS for Amazon Inc. is expected to be: $36.77 $50.00 $45.71 $130.33 Acquisition of Snap by Amazon Acquisition Structure Assumptions Acquisition Premium Equity Issuance Discount (to Current Price) 20% 5% 20% 80% % Debt Financing % Equity Financing Acquirer and Target Assumptions Share Price ($/sh.) Fully Diluted Shares Outstanding (MM) Net Debt FY+ 1 Normalized Net Earnings FY+ 1 Normalized Cash Flow Amazon Acquirer $3,099.40 518 $66,884 $23,688 $69,825 Snap Target $44.29 1,734 -$496 $581 $334 Pro Forma Adjustment FY+ 1 Normalized Net Earnings FY+ 1 Normalized Cash Flow Pro-Forma Net Debt $3,134 $642 $85,595