Adobe Financial Strategy Top Line Growth Operational Discipline Balance Sheet Strength Capital Management • Creative Cloud fueled by • Disciplined spend management • Exceptional cash flow • Investment in existing numerous growth drivers • Margin expansion performance business • Adobe Document Cloud • Earnings growth • Conservative use of debt • Evaluation of inorganic growth inflection financing opportunities • Adobe Experience Cloud is • Dynamic planning capabilities • Strong & growing RPO • Return of capital to the most comprehensive • Focused integration motion balances shareholders CXM offering • Investment in "Apps + • Changing tax environment Services + Platforms" and Sensei creates market differentiation © 2019 Adobe. All Rights Reserved.