Business Momentum Adobe Revenue & Margin Adobe Revenue & Non-GAAP Operating Margin $12 50% $11 40.1% • Strong revenue growth with $10 38.0% 40% % operating margin expansion in 33.8% g ) r s$9 a n M io • FY2019 operating margin l 30% g il in $8 t $B a impacted in 1HFY19 due to ( r e e u$7 ~$11.15B p acquisition accounting n 20% e P O v A e$6 $9.03B A R G • Margin expansion returning in $7.30B - $5 10% n 2HFY19 as expected $5.85B No $4 $3 0% FY2016 FY2017 FY2018 FY2019E Revenue Non-GAAP Operating Margin Source: Adobe; FY2019E reflects FY2019 YTD results and Q4FY19 financial targets; reconciliation between GAAP and non-GAAP operating margins can be found on our Investor Relations website © 2019 Adobe. All Rights Reserved.