> **[Chart page]** This page contains visual data — view in PDF for the best experience. Financial Overview ( millions) 1,658 $1,842 Revenue 1,259 1,405 $1,842 ( millions) 835 999 1,159 1,259 1,405 $1,658 406 504 576 678 711 835 999 1,159 406 504 576 678 $711 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Net Income from Continuing Operations 1Q26: 1.84 billion (+59% Y/Y) 1,206 Net Income from Continuing Operations 1,102 1,206 ( millions) 1,102 Net Income from Continuing Operations 62% $836 66% 65% Margin 52% 60% 62% 772 836 66% 65% 38% 42% 52% 60% 724 772 33% 38% 42% 433 724 61% 59% 24% 29% 33% 433 596 61% 59% 24% 144 188 259 301 $596 $99 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 1Q26: $1.21 billion (+67% Y/Y), a net margin of 65% Adjusted EBITDA $1,557 ( millions) 1,399 Adjusted EBITDA Margin 70% 71% 71% 72% 77% 77% 81% 81% $1,158 85% 65% O 770 938 $1,018 82% 84% 411 484 511 647 264 355 411 484 264 355 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q223 Q323 Q423 Q124 1Q26: $1.56 billion (+66% Y/Y), an 85% margin Q225 Q325 Q425 Q126 Cash Flow from 1Q26: $1.56 billion (+66% Y/Y), an 85% margin ( and shares in millions) Operations and Shares Outstanding 1,314 $1,291 Cash Flow from Operations 1,314 1,291 Ending Shares Outstanding $1,053 Cash Flow from Operations Ending Shares Outstanding 701 832 772 1,053 348 336 340 329 334 335 $701 338 339 339 338 336 348 336 344 329 334 551 340 338 339 339 338 336 230 199 • 393 455 $551 34O 6 C 230 199 344 393 $455 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126

utstanding $1,053 Cash Flow from Operations Ending Shares Outstanding 701 832 772 1,053 348 336 340 329 334 335 $701 338 339 339 338 336 348 336 344 329 334 551 340 338 339 339 338 336 230 199 • 393 455 $551 34O 6 C 230 199 344 393 $455 Q223 Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. Please see “Non-GAAP Financial Measures” and the reconciliation from GAAP to non-GAAP measures later in this update. Q323 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126

Non-GAAP Financial Measures To supplement our financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”), this financial update includes certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA and Adjusted EBITDA margin. A reconciliation of each such non-GAAP financial measure to the most directly comparable GAAP measure can be found below. We define Adjusted EBITDA for a particular period as net income, adjusted for loss (income) from discontinued operations, net of income taxes, interest expense, other (income) expense, net (excluding certain recurring items), provision for (benefit from) income taxes, amortization, depreciation and writeoffs and as further adjusted for non-operating foreign exchange (gain) loss, stock-based compensation, transaction-related expense, restructuring costs (benefits), as well as certain other items that we believe are not reflective of our core operating performance. We define Adjusted EBITDA margin as Adjusted EBITDA divided by revenue for the same period. We believe that the presentation of these non-GAAP financial measures provides useful information to investors regarding our results of operations and operating performance, as they are similar to measures reported by our public competitors and are regularly used by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. Adjusted EBITDA and Adjusted EBITDA margin are key measures we use to assess our financial performance and are also used for internal planning and forecasting purposes.

ed by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. Adjusted EBITDA and Adjusted EBITDA margin are key measures we use to assess our financial performance and are also used for internal planning and forecasting purposes. We believe Adjusted EBITDA and Adjusted EBITDA margin are helpful to investors, analysts, and other interested parties because they can assist in providing a more consistent and comparable overview of our operations across our historical financial periods. We use Adjusted EBITDA and Adjusted EBITDA margin in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. These measures have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Our definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Thus, our non-GAAP financial measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

AppLovin Corporation Consolidated Balance Sheets (In thousands, except per share data) (Unaudited) March 31, December 31, 2026 2025 Assets Current assets: Cash and cash equivalents 2,758,671 2,487,096 Accounts receivable, net 1,958,023 1,819,366 Prepaid expenses and other current assets 130,881 124,330 Total current assets 4,847,575 4,430,792 Property and equipment, net 114,820 122,445 Goodwill 1,523,050 1,539,986 Intangible assets, net 368,996 396,714 Equity method investments 288,669 287,666 Other non-current assets 564,595 482,007 Total assets 7,707,705 7,259,610 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable 697,524 746,977 Accrued and other current liabilities 796,858 586,811 Total current liabilities 1,494,382 1,333,788 Long-term debt 3,514,022 3,512,987 Other non-current liabilities 335,818 278,164 Total liabilities 5,344,222 5,124,939 Stockholders’ equity: Preferred Stock, $0.00003 par value—100,000 shares authorized, no shares issued and outstanding as of March 31, 2026 and December 31, 2025 — — Class A, Class B, and Class C Common Stock, $0.00003 par value—1,850,000 (Class A 1,500,000, Class B 200,000, Class C 150,000) shares authorized, 336,294 (Class A 306,087, Class B 30,208, Class C nil) and 338,313 (Class A 307,955, Class B 30,358, Class C nil) shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 11 11 Additional paid-in capital 504,342 446,550 Accumulated other comprehensive loss (67,767)

ed, 336,294 (Class A 306,087, Class B 30,208, Class C nil) and 338,313 (Class A 307,955, Class B 30,358, Class C nil) shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 11 11 Additional paid-in capital 504,342 446,550 Accumulated other comprehensive loss (67,767) (46,987) Retained earnings 1,926,897 1,735,097 Total stockholders’ equity 2,363,483 2,134,671 Total liabilities and stockholders’ equity 7,707,705 7,259,610