Snowflake

(2) The potential impact of future repurchases under our stock repurchase program is not reflected in our guidance for weighted-average shares used in computing net income per share attributable to Snowflake Inc.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

common stockholders diluted due to the uncertainty regarding, and the potential variability of, the timing and amount of repurchases.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

Additionally, the dilutive effect of the shares issuable upon conversion of our 0% convertible senior notes due 2027 and 0% convertible senior notes due 2029 (the Notes) using the if-converted method, estimated at approximately 10 million shares for the third quarter of fiscal 2026 based on the current conversion price and net of the potential antidilutive impact of the capped call transactions entered into in connection with the Notes (the Capped Calls), is reflected in our guidance for weighted-average shares used in computing net income per share attributable to Snowflake Inc.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

These variables include expected stock price volatility over an expected term, the expected term based on actual and projected employee stock option exercise behaviors, the risk-free interest rate for an expected term, and expected dividends.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

Gross unrealized losses on the Company s available-for-sale marketable debt securities were not material as of each of July 31, 2026 and January 31, 2026.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

All statements other than statements of historical fact contained in this report, including statements regarding our future results of operations and financial condition, business strategy, opportunities, priorities, capital requirements, market trends, and plans and objectives of management for future operations, are forward-looking statements.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

4 Table of Contents SELECTED RISKS AFFECTING OUR BUSINESS Investing in our common stock involves numerous risks, including those set forth below.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

Successful execution of our AI strategy depends on effective product development, partner relationships, and use of AI in internal operations, as well as favorable customer demand and competitive dynamics.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

Failure to successfully execute our AI strategy could materially harm our business, financial condition, and results of operations.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

Our growth depends on the development, expansion, and success of our partner relationships.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026

common stockholders diluted due to the uncertainty regarding, and the potential variability of, the timing and amount of repurchases.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

A reconciliation of GAAP guidance measures to corresponding non-GAAP guidance measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

The forward-looking statements contained in this release and the accompanying oral presentation are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this release are included under the caption Risk Factors and elsewhere in our Form 10-Q for the fiscal quarter ended April 30, 2025 and other filings and reports we make with the Securities and Exchange Commission from time to time, including our Form 10-Q that will be filed for the fiscal quarter ended July 31, 2025.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

As a result of these risks, uncertainties, assumptions, and other factors, you should not rely on any forward-looking statements as predictions of future events.

SEC original ↗Snowflake — Earnings release (8-K exhibit)EX-99Aug 27, 2025

Legal Proceedings 69 ITEM 1A.

SEC original ↗Snowflake — 10-Q Quarterly report10-QSep 4, 2026