Tech Incumbent AI Rollouts = Amazon – Rufus (2/24) Source: Amazon; Morgan Stanley estimates Amazon: Rufus – 12/22-3/25, per Amazon & Morgan Stanley Estimates We have so many customers now who just use Rufus to help them find a quick fact about a product. They also use Rufus to figure out how to summarize customer reviews, so they don't have to read 100 customer reviews to get a sense of what people think about that product…the personalization keeps getting much better… …And so, we expect throughout 2025, that the number of occasions where you're not sure what you want to buy and you want help from Rufus are going to continue to increase and be more and more helpful to customers. - Amazon CEO Andy Jassy, 2/25 Last Twelve Months Retail GMV, $B Amazon North America Retail Estimated Gross Merchandise Value ($B), Last 12 Months Quarter Ending 2/24: Rufus announced 206 AI – Tech Incumbents = Broad & Steady Product / Feature Rollouts $0 $200 $400 $600