Mr. Harley Finkelstein reports

SHOPIFY MERCHANTS DRIVE RECORD-HIGH $9.3 BILLION IN BLACK FRIDAY-CYBER MONDAY SALES

Shopify Inc. merchants reached a record $9.3-billion in sales over Black Friday/Cyber Monday (BFCM) weekend -- a 24-per-cent increase from last year.

From early Friday in New Zealand to late Monday in California, more than 61 million consumers globally purchased from brands powered by Shopify.

Shopping peaked when collective sales reached $4.2-million per minute at 12:01 p.m. EST on Black Friday.

"Watching entrepreneurs make their first sale and seeing established brands reach new highs on Black Friday/Cyber Monday was incredible," said Shopify president Harley Finkelstein. "Our merchants spend all year building relationships with their customers and earning brand trust. This weekend was a testament to how they consistently deliver experiences and products that global consumers are looking for."

BFCM highlights from Shopify merchants:

• Peak sales per minute: $4.2-million at 12:01 p.m. EST on Nov. 24, 2023;
• 61 million consumers globally purchased from Shopify-powered brands;
• Hottest product categories: apparel and accessories, health and beauty, and home and garden;
• Average cart price: $108.12 ($107.53 on a constant-currency basis);
• Top-selling countries: the United States, the United Kingdom, Australia, Canada and Germany;
• Top-selling cities: Los Angeles, New York and London;
• Cross-border orders represented 15 per cent of all global orders;
• More than 56,000 tonnes of carbon removal financed by Shopify to counteract shipping emissions;
• 60-per-cent year-over-year increase in sales made through Shop Pay;
• More than 17,500 entrepreneurs made their first sale on Shopify;
• More than 55,000 merchants had their highest-selling day ever on Shopify.

About Shopify Inc.

Shopify is the leading global commerce company that provides essential Internet infrastructure for commerce, offering trusted tools to start, scale, market and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability and security while delivering a better shopping experience for consumers on-line, in-store and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Mattel, Gymshark, Heinz, FTD, Netflix, Kylie Cosmetics, Skims, Supreme, and many more.

Notes

Shopify's 2023 Black Friday/Cyber Monday data is based on gross merchandise volume (GMV) by Shopify merchants around the world from Nov. 23, 2023, 11 a.m. UTC, to Nov. 28, 2023, 8 a.m. UTC. GMV represents the total dollar value of orders facilitated through the Shopify platform, including certain apps and channels for which a revenue-sharing arrangement is in place in the period, net of refunds, and inclusive of shipping and handling, duty, and value-added taxes.

All data presented herein (including worldwide sales) are approximate and are based on various assumptions. All data are unaudited and are subject to adjustment. The methodology underlying the data may vary year-over-year and prior-year results are not directly comparable with current results. All financial figures are in U.S. dollars. Data represent on-line and off-line sales made by Shopify's global merchants.