Small Business Enabling Payment Processors = Strong Growth Square Gross Payment Volume, Global Stripe Connect – Marketplace Volume Impact* Per Forrester $100B 120% +6.7% e um ol V t en m ay $50B 110% P s os r are G qu S $0 100% 2014 2015 2016 2017 2018 Year 0 Year 1 Year 2 Year 3 Source: Square SEC filings. Forrester Total Economic Impact Survey on Stripe Connect (Stripe’s Marketplace Product) (7/18). Note: A Total Economic Impact Study is a framework to identify the cost, benefit, flexibility & risk factors for an investment decision. Forrester took a multistep approach to evaluate the impact that Stripe Connect can have on an organization, including stakeholder interviews, customer interviews, the development of a Internet Trends composite organization based on the characteristics of interviewed Stripe customers & a financial model that incorporates the effects / risks of Stripe Connect, as identified by Stripe’s customers. Based on interview feedback, 221 Forrester determined that a composite organizations would likely have $475MM in annual transaction volume prior to using Stripe Connect & that Stripe Connect’s features (e.g., improved seller settlement) would result in 2019 increased volume of $47.7MM in Year 1, $66.1MM in Year 2 & $90.6MM in Year 3.