Business Momentum Creative Cloud Revenue Mix FY2016 Revenue Mix FY2019E Revenue Mix Perpetual & OEM • Creative Cloud business has Perpetual & OEM $0.2B doubled in three years $0.2B • ~97% of revenue is subscription-based $3.2B ~$6.5B • Continued innovation and tiered service offerings $2.9B acquiring more users and Subscription $6.3B enabling ARR growth Subscription Source: Adobe; FY2019E reflects FY2019 YTD results and Q4FY19 financial targets © 2019 Adobe. All Rights Reserved.