Adobe Q1 Report 2022

Q1 FY2022 Results

• Trade DSO of 36 days
• RPO of $13.83 billion
• Cash and short-term investments of $4.70 billion
• Cash flows from operations of $1.77 billion
• Repurchased approximately 3.8 million shares

We repurchased approximately 3.8 million shares in Q1 at a cost of $2.1 billion. Included in this purchase was the partial settlement of an accelerated share repurchase (“ASR”) entered into during Q1 to repurchase shares at an aggregate cost of $2.4 billion. The final number of shares to be repurchased under the ASR will be based on a discount to the volume-weighted average price of our common stock during the term of the agreement with the final settlement and delivery of incremental shares to Adobe scheduled to occur in early Q3. These share repurchases are part of the previously announced program, under which we currently have $10.7 billion remaining of our $15 billion authorization that was granted in December 2020 and goes through 2024.