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Issuer: Snap Issue Date: 1 August 2019 Maturity Date: 1 August 2026 Interest: 0.75% payable semi-annually on 1 Feb and 1 August Issue Size: $1,000,000,000

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Issuer: Snap Issue Date: 1 August 2019 Maturity Date: 1 August 2026 Interest: 0.75% payable semi-annually on 1 Feb and 1 August Issue Size: $1,000,000,000 Par Value: $1,000 Conversion Ratio: 43.8481 (based on $1,000 par value) Convertible Bond Price on beginning of day, 1 August 2019: 108.76 (% of par) Share Price on 1 August 2019, market open: 16.29 27. (2 pts.) What is the initial conversion price

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