AppLovin — May 7, 2025 release

Second Quarter 2025 Financial Guidance Summary 2 (In millions, except percentages) 2Q25 Low High Total Advertising Revenue $1,195 $1,215 Total Advertising Adjusted EBITDA $970 $990 Total Advertising Adjusted EBITDA Margin 81% 81% 1 Includes repurchased shares as well as withholdings upon net share settlement of vested equity awards. Total cost includes repurchase costs, including commissions and fees, as well as cash paid in connection with tax withholding and remittance obligations upon net share settlement 2 We have not provided the forward-looking GAAP equivalents for forward-looking non-GAAP metrics, specifically Adjusted EBITDA and Adjusted EBITDA margin, or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalents is not available without unreasonable effort. However, it is important to note that material changes to reconciling items could have a significant effect on future GAAP results. We have provided historical reconciliations of GAAP to non-GAAP metrics in tables at the end of this letter. Due to the pending sale of our Apps business, we are no longer providing guidance for our Apps segment.      1 Webcast and Conference Calls AppLovin will host a webinar today at 2:00 PM PT / 5:00 PM ET,