21 The effect of the transaction on FY + 1 EPS for Amazon Inc. is as follows: Accretive by 19.5796 Dilutive by 3.2896 Accretive by 3.28% Dilutive by 19.5796 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