Alphabet Inc. (Class A)

With the growth across our business and demand from Cloud customers, we now expect 2025 capital expenditures to be in a range of $91 billion to $93 billion.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

tax law enacted on July 4, 2025, allow, among other things, for immediate expensing of domestic research and experimentation costs and accelerated depreciation on eligible capital expenditures, the effects of which are included in operating cash flows for the three months ended September 30, 2025.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Dividend Program Alphabet s Board of Directors declared a quarterly cash dividend of $0.21 payable on December 15, 2025 to stockholders of record for each of the Company s Class A, Class B, and Class C shares as of December 8, 2025.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Quarter Ended TTM Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2025 Net cash provided by operating activities $ 39,113 $ 36,150 $ 27,747 $ 48,414 $ 151,424 Less purchases of property and equipment (14,276) (17,197) (22,446) (23,953) (77,872) Free cash flow $ 24,837 $ 18,953 $ 5,301 $ 24,461 $ 73,552 Free cash flow We define free cash flow as net cash provided by operating activities less capital expenditures.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

TTM free cash flow We define trailing twelve months free cash flow as net cash provided by operating activities less capital expenditures for the most recent twelve consecutive months.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

These costs primarily include certain AI-focused shared R D activities, including development costs of our general AI models corporate initiatives such as our philanthropic activities corporate shared costs such as certain finance, human resource, and legal costs, including certain fines and settlements.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

8 Reconciliation from GAAP Net Cash Provided by Operating Activities to Non-GAAP Free Cash Flow (in millions unaudited) We provide non-GAAP free cash flow for the current quarter and trailing twelve months ( TTM ) because it is a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can be used for strategic opportunities, including investing in our business and acquisitions, and to strengthen our balance sheet.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Forward-Looki ng Statements This press release may contain forward-looking statements that involve risks and uncertainties.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025

The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those risks and uncertainties included under the captions Risk Factors and Management s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended December 31, 2024 and our most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 , which are on file with the SEC and are available on our investor relations website at http abc.

SEC original ↗Alphabet Inc. (Class A) — Earnings release (8-K exhibit)EX-99Oct 29, 2025