Shopify Investor Presentation — October 2022

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October 27, 2022 This presentation contains forward-looking statements that are based on our management’s

current estimates, beliefs and assumptions, which are based on management’s perception of

historic trends, current conditions and expected future developments, as well as other factors

management believes are appropriate in the circumstances. Although we believe that the plans,

intentions, expectations, assumptions and strategies reflected in these forward-looking

statements are reasonable, these statements relate to future events or our future financial

performance, and involve known and unknown risks, uncertainties and other factors that may

cause our actual results to be materially different from any future results expressed or implied by

these forward-looking statements. Although the forward-looking statements contained in this

presentation are based upon what we believe are reasonable assumptions, investors are

cautioned against placing undue reliance on these statements since actual results may vary from

the forward-looking statements. Forward-looking statements involve known and unknown risks,

uncertainties and other factors, which are, in some cases, beyond our control and which could

materially affect our results. These risks include the risks due to the uncertainty around the

duration and scope of the COVID-19 pandemic and the impact of the pandemic and actions

taken in response on global and regional economies and economic activity and are described in

further detail in our Management's Discussion and Analysis for the year ended December 31,

2021 and in the section entitled “Risk Factors” in our Annual Information Form for the year ended

December 31, 2021 available on www.sec.gov and on www.sedar.com and elsewhere in our

filings with regulatory agencies. If one or more of these risks or uncertainties occur, or if our

underlying assumptions prove to be incorrect, actual results may vary significantly from those

expressed, implied or projected by the forward-looking statements. References to long-term

trends in our model are forward-looking and made as of the current date. Nothing in this

presentation should be regarded as a representation by any person that these long-term trends

will be achieved and we undertake no duty to update these long-term trends or any other

forward-looking statements contained in this presentation, except as required by law. We believe that the case studies presented in this presentation provide a representative sample

of how our merchants have been able to use various features of our platform to grow their