Snowflake Investor Presentation — January 2021 - Snowflake

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publications orother publicly available information, aswellasother information based onourinternal sources .

While webelieve theindustry and market data included inthispresentation arereliable and arebased on

reasonable assumptions, these data involve many assumptions andlimitations, andyouarecautioned notto

give undue weight tothese estimates .Wehave notindependently verified theaccuracy orcompleteness ofthe

data contained inthese industry publications andother publicly available information .

The trademarks included herein aretheproperty oftheowners thereof and areused forreference purposes

only.Such useshould notbeconstrued asanendorsement ofsuch products orservices .

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

accordance with generally accepted accounting principles intheUnited States (GAAP) .These non-GAAP

financial measures areinaddition to,andnotasasubstitute for,orsuperior to,financial measures calculated in

accordance with GAAP .There areanumber oflimitations related totheuse ofthese 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 and forthe

calculation 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 that exclude these non-cash ornon-recurring

items provides useful supplemental information toinvestors andfacilitates theanalysis ofouroperating results

andcomparison ofoperating results across reporting periods .

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

property and equipment and capitalized internal -usesoftware development costs .Adjusted free cash flow is

defined asfreecash flow plus cash paid onemployer payroll tax-related items onemployee stock transactions .