Risk Factors Update Summary

• Laws restricting use of products by minors may decrease DAUs or user engagement, impacting revenue.
• Decrease in accumulated deficit from $10 billion to $11 billion and net loss from $1.4 billion to $3 billion.
• The trading price of our Class A common stock ranged from $7.33 to $71.47.
• Shift in revenue source from advertising accounting for 96% to 99%.
• New laws in APAC and California impose stricter data privacy requirements, leading to increased compliance costs.
• Introduction of new products like Snapchat +, Snapchat for Web, and My AI.
• Exclusion from indexes could make the trading of our Class A common stock more volatile.
• Increased focus on AI privacy and security risks may result in regulatory fines or penalties.
• The number of outstanding shares held by directors, officers, and affiliates is approximately 368.0 million.
• Reduction in global employee headcount by 20% may disrupt operations and impact employee morale.
• Strategic reprioritization leading to reduced investments not directly linked to top priorities.
• Potential changes in tax laws could increase future tax liabilities, affecting financial condition.
• Increased focus on security measures and potential vulnerabilities in information systems.
• Product recalls, like the Pixy drone, may lead to liabilities, litigation, and harm to reputation.
• Changes in user metrics measurement and reporting methods for improved accuracy.
• Lawsuits related to content created by users could result in substantial monetary judgments and harm reputation.
• Potential impact of geo-political conflicts on operations and revenue streams.