47 …AI Performance = Evolving to Mainstream Realistic Audio Translation / Generation Note: Revenue annualized using Q1:25 results. Source: Spotify, ‘The New York Post,’ ‘Inside Spotify: CEO Daniel Ek on AI, Free Speech & the Future of Music’ (5/2/25); Spotify earnings releases; eMarketer, ‘Spotify dominates Apple and Amazon in digital audio’ (4/25) AI-Powered Audio Translation – 5/25, per Spotify Imagine if you’re a creator and you’re the world expert at something…but you happen to be Indonesian. Today, there’s a language barrier and it will be very hard if you don’t know English to be able to get to a world stage. But with AI, it might be possible in the future where you speak in your native language, and the AI will understand it and will actually real-time translate… …What will that do for creativity? For knowledge sharing? For entertainment? I think we’re in the very early innings of figuring that out… …We want Spotify to be the place for all voices. - Spotify Co-Founder & CEO Daniel Ek (5/25) In Q1:25, Spotify had 678MM Monthly Active Users and 268MM Subscribers and supported €16.8B in annualized revenue while hosting 100MM+ tracks, ~7MM podcast titles and ~1MM creative artists. AI Development Trending = Unprecedented 2/25: Spotify begins accepting audiobooks AI-translated into 29 languages from ElevenLabs