SAFE HARBOR STATEMENT
This letter contains forward-looking
statements within the meaning of the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to,
statements regarding the future performance of Block, Inc. and its consolidated subsidiaries (the Company); the Companys strategies, including expected impact of such strategies on our customers, actives, and sellers as well as our business
and financial performance, expected financial results, guidance, and general business outlook for current and future periods; the Companys integration of Afterpay into its Square and Cash App businesses, and its impacts on the Companys
business and financial results; future profitability and growth in the Companys businesses and products and the Companys ability to drive such profitability and growth; the Companys expectations regarding scale, economics, and the
demand for or benefits from its products, product features, and services; the Companys product development plans; the ability of the Companys products to attract and retain customers, particularly in new or different markets or
demographics; trends in the Companys markets and the continuation of such trends; the Companys expectations and intentions regarding future expenses, including future transaction and loan losses and the Companys estimated reserves
for such losses; the Companys bitcoin investments and strategy as well as the potential financial impact and volatility; and managements statements related to business strategy, plans, investments, opportunities, and objectives for
future operations. In some cases, forward-looking statements can be identified by terms such as may, will, appears, should, expects, plans, anticipates,
could, intends, target, projects, contemplates, believes, estimates, predicts, potential, or continue, or the negative of these
words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions.
Such statements are subject
to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause the Companys actual results, performance, or achievements to differ materially from results expressed or implied in this letter. Investors are
cautioned not to place undue reliance on these statements, and reported results should not be considered as an indication of future performance.
Risks that contribute to the uncertain nature of the forward-looking statements include, among
others, a continued or prolonged economic downturn in the United States and in other countries around the world; the Companys investments in its business and ability to maintain profitability; the Companys efforts to expand its product
portfolio and market reach; the Companys ability to develop products and services to address the rapidly evolving market for payments and financial services; the Companys ability to deal with the substantial and increasingly intense
competition in its industry; acquisitions, strategic investments, entries into new businesses, joint ventures, divestitures, and other transactions that the Company may undertake; the integration of Afterpay; the Companys ability to ensure the
integration of its services with a variety of operating systems and the interoperability of its technology with that of third parties; the Companys ability to retain existing customers, attract new customers, and increase sales to all
customers; the Companys dependence on payment card networks and acquiring processors; our participation in government relief programs set up in response to the COVID-19 pandemic; the effect of extensive regulation and oversight related to the
Companys business in a variety of areas; risks related to the banking ecosystem, including through our bank partnerships, and FDIC and other regulatory obligations; the effect of management changes and business initiatives; the liabilities and
loss potential associated with new products, product features, and services; litigation, including intellectual property claims, government investigations or inquiries, and regulatory matters or disputes; adoption of the Companys products and
services in international markets; changes in political, business, and economic conditions; as well as other risks listed or described from time to time in the Companys filings with the Securities and Exchange Commission (the SEC), including
the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, which are on file with the SEC and available on the Investor Relations page of the
Companys website. Additional information will also be set forth in the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. All forward-looking statements represent managements current expectations and
predictions regarding trends affecting the Companys business and industry and are based on information and estimates available to the Company at the time of this letter and are not guarantees of future performance. Except as required by law,
the Company assumes no obligation to update any of the statements in this letter.