20 Pro-forma FY+1 EPS for Amazon Inc. is expected to be: $36.77 $45.71 $130.33 $50.00 Page 20 of 25 Prev Page || Amounts Denominated in US$MM Unless otherwise stated Acquisition Assumptions Acquisition of Snap by Amazon Acquisition Structure Assumptions Acquisition Premium Equity Issuance Discount (to Current Price) 20% 5% 20% % Debt Financing % Equity Financing Acquirer and Target Assumptions 80% Amazon Acquirer $3,099.40 Share Price ($/sh.) Fully Diluted Shares Outstanding (MM) Net Debt FY + 1 Normalized Net Earnings FY+ 1 Normalized Cash Flow 518 Snap Target $44.29 1,734 $496 -$581 $334 $66,884 $23,688 $69,825 Pro Forma Adjustment FY+1 Normalized Net Earnings FY + 1 Normalized Cash Flow Pro-Forma Net Debt $3,134 $642 $85,595 B 32 33 35 36