Meta Platforms Investor Presentation — February 2023

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Meta Earnings Presentation Q4

investor.fb.com$13,150

$12,024$12,788 $12,766$15,005$6,822

Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22Advertising Revenue by User Geography

Our revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform a revenue-generating activity. This allocation differs from our revenue disaggregated by geography

disclosure in our consolidated financial statements where revenue is geographically apportioned based on the addresses of our customers.

$28,580 $28,276$32,639

$26,998$28,152$27,237$13,734

$13,035$15,636$7,011

Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22Revenue by User Geography

Our revenue by user geography is geographically apportioned based on our estimation of the geographic location of our users when they perform a revenue-generating activity. This allocation differs from our revenue disaggregated by geography

disclosure in our consolidated financial statements where revenue is geographically apportioned based on the addresses of our customers.

US & Canada$29,010$28,072$29,077

$27,908$28,822$27,714Segment Results

Beginning in the fourth quarter of 2021, we report our financial results based on two reportable segments: Family of Apps (FoA) and Reality Labs (RL). FoA includes Facebook, Instagram, Messenger, WhatsApp, and other services. RL includes augmented and

virtual reality related consumer hardware, software, and content. For comparative purposes, amounts in prior periods have been recast.Q4’20 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22

Advertising $ 27,187 $ 25,439 $ 28,580 $ 28,276 $ 32,639 $ 26,998 $ 28,152 $ 27,237 $ 31,254

Other 168 198 192 176 155 215 218 192 184

Revenue 27,355 25,637 28,772 28,452 32,794 27,213 28,370 27,429 31,438

Reality Labs Revenue 717 534 305 558 877 695 452 285 727

Total Revenue $ 28,072 $ 26,171 $ 29,077 $ 29,010 $ 33,671 $ 27,908 $ 28,822 $ 27,714 $ 32,165

Operating Income$ 14,874 $ 13,205 $ 14,799 $ 13,054 $ 15,889 $ 11,484 $ 11,164 $ 9,336 $ 10,678

Operating (Loss) (2,099) (1,827) (2,432) (2,631) (3,304) (2,960) (2,806) (3,672) (4,279)

Operations$ 12,775 $ 11,378 $ 12,367 $ 10,423 $ 12,585 $ 8,524 $ 8,358 $ 5,664 $ 6,399

Operating Margin 46 % 43 % 43 % 36 % 37 % 31 % 29 % 20 % 20 %

30%33%30%12%11% 11%12%

Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22Expenses as a Percentage of Revenue

RevenueEffective Tax Rate

In Millions, Except for Percentages