Business Momentum Adobe Revenue & Margin Adobe Revenue & GAAP Operating Margin $12 50% $11 $10 40% % ) 31.5% in • Strong revenue growth with s g n $9 29.7% r io a l 30% M operating margin expansion il 25.5% $B$8 g in ( t e a u $7 ~$11.15B r • FY2019 GAAP operating n e e 20% p v margin impacted by e $6 $9.03B P O R A $7.30B A acquisitions in FY2018 $5 10% G $4 $5.85B $3 0% FY2016 FY2017 FY2018 FY2019E Revenue GAAP Operating Margin Source: Adobe; FY2019E reflects FY2019 YTD results and Q4FY19 financial targets © 2019 Adobe. All Rights Reserved.