Snowflake Investor Presentation — April 2021 - Snowflake

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1Safe Harbor and Statement Regarding Use of

Non-GAAP Financial Measures

This presentation also includes certain non-GAAP financial measures, which have notbeen prepared inaccordance

withgenerally accepted accounting principles intheUnited States (GAAP) .These non-GAAP financial measures are

inaddition to,andnotasasubstitute for,orsuperior to,financial measures calculated inaccordance with GAAP .

There areanumber oflimitations related totheuseofthese non-GAAP financial measures versus their nearest

GAAP equivalents .Forexample, other companies may calculate non-GAAP financial measures differently ormay

useother measures toevaluate their performance, allofwhich could reduce theusefulness ofournon-GAAP

financial measures astools forcomparison .Please seetheappendix forreconciliations ofthese non-GAAP financial

measures totheir nearest GAAP equivalents andforthecalculation ofcertain other financial metrics .

Our non-GAAP product gross profit and operating income (loss) measures exclude theeffect ofstock -based

compensation expense -related charges, including employer payroll tax-related items onemployee stock

transactions, amortization ofacquired intangibles, and expenses associated with acquisitions and strategic

investments .Webelieve thepresentation ofoperating results thatexclude these non-cash ornon-recurring items

provides useful supplemental information toinvestors and facilitates theanalysis ofouroperating results and

comparison ofoperating results across reporting periods .

Free cash flow isdefined asnetcash provided by(used in)operating activities reduced bypurchases ofproperty

andequipment andcapitalized internal -usesoftware development costs .Adjusted freecash flow isdefined asfree

cash flowplus (minus) netcash paid (received) onpayroll tax-related items onemployee stock transactions .Prior to

thefiscal quarter ended April 30,2021 ,adjusted freecash flowwasdefined asfreecash flowplus cash paid ononly

employer payroll tax-related items onemployee stock transactions .Starting with thefiscal quarter ended April 30,

2021 ,adjusted free cash flow isdefined toalso exclude theeffects ofemployee payroll tax-related items on

employee stock transactions, which aregenerally pass -through transactions thatareexpected tohave anetzero

impact onfreecash flowover time, butthatmay impact freecash flow inanygiven fiscal quarter duetodifferences

between thetime thatwereceive funds from ouremployees andthetime weremit those funds toapplicable tax