Q1 2025 Financial Results Conference Call Slides

Q1 2025 Financial Results Conference Call Slides

• 1. Q1 2025 Financial Results Conference Call Slides

• 2. 2 This presentation may contain forward-looking statements which are inherently difficult to predict. Actual results and outcomes could differ materially for a variety of reasons, including, among others, fluctuations in foreign exchange rates, changes in global economic conditions, tariff and trade policies, and customer demand and spending, inflation, interest rates, regional labor market constraints, world events, the rate of growth of the internet, online commerce, cloud services, and new and emerging technologies, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income or other taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of claims, litigation, government investigations, and other proceedings, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, variability in demand, the degree to which the Company enters into, maintains, and develops commercial agreements, proposed and completed acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, security incidents, system interruptions, government regulation and taxation, and fraud. In addition, global economic and geopolitical conditions and additional or unforeseen circumstances, developments, or events may give rise to or amplify many of these risks. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission ("SEC"), including its most recent Annual Report on Form 10-K and subsequent filings. Additional information relating to certain of our financial measures contained herein, including nonGAAP financial measures, is available in the appendix to our presentation, our most recent earnings release and at our website at www.amazon.com/ir. 2

• 3. 3 Net Sales MM 3 $143,313 $155,667 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $140,000 $280,000 Net Sales (MM) $92,887 60% $33,513 21% $29,267 19% North America International AWS Up 9% Y/Y; Up 10% F/X Adjusted (1) (1) Information throughout this presentation regarding the effect of foreign exchange rates, versus the U.S. Dollar, on our net sales and operating income is provided to show reported period operating results had the foreign exchange rates remained the same as those in effect in the comparable prior year periods.

• 4. 4 Net Sales – TTM (1) MM 4 $590,740 $650,313 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $475,000 $950,000 Net Sales - TTM (MM) $394,043 61% $144,484 22% $111,786 17% North America International AWS (1) Trailing twelve-month period. Up 10% Y/Y, Up 11% F/X Adjusted

• 5. 5 Operating Income 5 $15,307 $18,405 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $15,000 $30,000 MM Up 20% Y/Y

• 6. 66 $47,385 $71,691 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $50,000 $100,000 Up 51% Y/Y Operating Income – TTM MM

• 7. 7 $10,431 $17,127 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $15,000 $30,000 Up 64% Y/Y 7 MM Net Income

• 8. 8 $37,684 $65,944 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $40,000 $80,000 8 MM Up 75% Y/Y Net Income – TTM

• 9. 9 [Down 31%] Y/Y; [Down 32%] F/X Adjusted Segment Results – North America MM MM 9 $86,341 $92,887 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $90,000 $180,000 $4,983 $5,841 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $7,500 $15,000 Net Sales Operating Income TTM Net Sales $394.0B; TTM Operating Income $25.8B Up 8% Y/Y Up 17% Y/Y; Up 18% F/X Adjusted

• 10. 10 Segment Results – International MM MM 10 $31,935 $33,513 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $35,000 $70,000 Up 5% Y/Y; Up 8% F/X Adjusted $903 $1,017 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $1,000 $2,000 Net Sales Operating Income TTM Net Sales $144.5B; TTM Operating Income $3.9B

• 11. 11 Segment Results – AWS MM MM 11 $25,037 $29,267 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $20,000 $40,000 Up 17% Y/Y $9,421 $11,547 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $8,000 $16,000 Net Sales Operating Income Up 23% Y/Y TTM Net Sales $111.8B; TTM Operating Income $42.0B

• 12. 12 Free Cash Flow – TTM (1) (1) Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales and incentives.” See Appendix for a reconciliation of operating cash flow to free cash flow. (2) Operating cash flow increased 15% Y/Y. Long-Term Goal – Optimize Free Cash Flows MM 12 Up 101% Y/Y $50,149 $25,925 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 $0 $40,000 $80,000 Down 48% Y/Y (2)

• 13. 13 Shares 13 10,403 10,613 385 263 Common Shares Outstanding Stock-Based Awards Outstanding Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 0 8,000 16,000 10,788 10,876 MM Long-Term Goal – Efficiently Managing Dilution

• 14. Appendix 14

• 15. 15 Free Cash Flow Reconciliation – TTM MM Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Operating Cash Flow $99,147 $107,952 $112,706 $115,877 $113,903 Purchases of property and equipment, net of proceeds from sales and incentives (48,998) (54,979) (64,959) (77,658) (87,978) Free Cash Flow $50,149 $52,973 $47,747 $38,219 $25,925 15