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Facebook Number of Monthly Active CAGR = ( END VALUE Users in USA Canada (Millions) (INITIAL VALUE) - 1 Note that n corresponds to the

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Facebook Number of Monthly Active CAGR = ( END VALUE Users in USA Canada (Millions) (INITIAL VALUE) - 1 Note that n corresponds to the number of time periods, which equals 40 in the Facebook time series data MAUs Ad Revenues CAGR =((B46/B6)^(1/40)-1) 1.68% Q1 '10 130 209 Q2 '10 137 243 Q3 '10 144 260 Q4 '10 154 359 Q1 '11 163 332 Q2 '11 169 394 Q3 '11 176 395 4 '11 179 462 183 419 Q2 12 186 479 Q3 '12 189 538 Q4 '12 193 631 Q1 '13 195 552 Q2 '13 198 721 199 832 201 1,068 Annual Ad revenues Q1 '14 202 1,039 204 1, 175 206 1,362 208 1,709 2014 5,285 =SUM(C22:C25) 210 1,592 213 1,826 Q3 '15 217 2, 120 Q4 '15 219 2,847 2015 8,385 Q1 '16 222 2,615 Q2 '16 226 3,077 Q3 '16 229 3,431 231 4,435 2016 13,558 234 3,851 Q2 '17 236 4,450 Q3 '17 239 4,912 Q4 '17 239 6,271 2017 19,484 Q1 '18 241 5,559 Q2 '18 241 6, 137 Q3 '18 242 6,547 Q4 '18 242 3,24 2018 26,489 Q1 '19 243 7,203 Q2 '19 244 7,952 Q3 '19 247 8,317 Q4 '19 248 10,021 2019 33,493 Q1 '20 253 8,379A B C D E F G H K L M Pandora Number of Monthly Active Users USA (millions) 2 3 Period MAUs Year Ad Revenues (In million US dollars) 4 Q4 2013 76.2 2014 732.34 5 Q4 2014 81.5 2015 933.31 6 Q2 2015 79.4 2016 1,072.49 7 Q4 2015 81.1 2017 1,074.93 8 Q2 2016 78.1 2018 1,092 9 Q4 2016 81 2019 1,200 10 Q2 2017 76 Q4 2017 74.7 12 Q1 2018 72.3 13 Q2 2018 71.4 14 Q3 2018 68.8 15 Q4 2018 69.4 16 Q1 2019 66.04 17 Q2 2019 64.9 18 Q3 2019 63.1 19 Q4 2019 63.5 20 Q1 2020 60.93 21 22 23 24 25 26C G H J K L M N O B D E F Twitter: number of monthly active U.S. users 2010-2019 (millions) MAUs Year Ad Revenues (in million US dollars) Period 2012 270 Q1 '10 10 12 2013 590 Q2 '10 14 2014 1250 5 Q3 '10 15 2015 990 Q4 10 Q1 11 19 2016 2250 23 2017 2110 Q2'11 27 2018 2620 9 Q3 '11 30 2019 2990 Q4 '11 11 Q1 '12 34 37 12 Q2 '12 40 13 Q3 '12 14 Q4'12 45 5 Q1'13 48 49 16 Q2 '13 53 17 Q3 '13 18 Q4 '13 54 19 Q1 '14 57 20 Q2 '14 60 21 Q3 '14 63 22 Q4 '14 63 65 23 Q1 '15 24 Q2 '15 65 66 25 Q3 '15 Q4 '15 65 26 Q1 16 65 99 28 Q2 '16 29 Q3 '16 67 30 Q4 '16 67 31 Q1'17 69 32 Q2 '17 68 33 Q3 '17 69 34 Q4'17 68 35 Q1 '18 69 36 Q2'18 68 37 Q3 '18 67 38 Q4 '18 66 68 39 Q1 '19 40 41

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