Third Quarter 2026 Earnings Earnings Presentation

Our mission is to increase economic freedom in the world

Q3'26 EARNINGS

Total Market Crypto Trading Volume1 has grown 41x over the past ~7 years

Total Market Crypto Trading Volume

in Q3'26

Stablecoin Market Cap2 of $304B, expected to 10x to $3T by 20303

Stablecoin Market Cap as of Q3'26

Tokenized RWA Supply of $39B, expected to reach $16T by 20304

RWA Market Cap as of Q3'265

Agents forecasted to process

$3-5T of transactions by 20306. Crypto is the native execution rail for the agent-led economy:

• Global

• Efficient

• Programmable

• Always on (24/7)

2019 2020 2021 2022 2023 2024 2025 2026

2019 2020 2021 2022 2023 2024 2025 2026

2019 2020 2021 2022 2023 2024 2025 2026

[1] Refer to Definitions in the appendix for Total Market Crypto Trading Volume. [2] Stablecoin Market Capitalization is the total U.S. dollar equivalent value market capitalization of substantially all stablecoins on the last day of the quarter based on data obtained from CoinDesk Data, CoinMarketCap, and

CoinGecko. [3] Per remarks delivered by Treasury Secretary Scott Bessent on November 12, 2025. [4] Source: Boston Consulting Group and ADDX. [5] Source: rwa.xyz, reported as Distributed Asset Value which measures the total value of real-world assets tokenized onchain, excluding stablecoins. 4

[6] Source: McKinsey.

Coinbase is uniquely positioned to capitalize on this transformation

Q3'26 EARNINGS

Most Trusted

1

#1

Platform for crypto stored globally

80+

Licenses; global regulatory foundation

Global Liquidity

2

#1

U.S. Crypto Spot Trading Volume Market Share1

10.7%

Coinbase Crypto Trading Volume Market Share1

Stablecoin Platform

3

#1

Regulated stablecoin -Average USDC Market Cap of $73B in Q31

$22B

Average USDC Held in Coinbase Products1

Repeatable Innovation

4

82%

Prediction markets revenue quarterly compound growth since launch

49%

Subscription & Services as % of total net revenue in Q3

[1] Refer to Definitions in the Appendix for U.S. Crypto Spot Trading Volume Market Share, Average USDC Market Capitalization, Coinbase Crypto Trading Volume Market Share, and Average USDC Held in Coinbase Products. Trading volume measurements represent the U.S. dollar equivalent value of the product of the quantity of assets transacted and the trade price of the underlying asset at the time the transaction was executed.

5

Q3 2026 Highlights

Annualized prediction markets revenue in Q31

$200M+

Average USDC Held in Coinbase Products2

↓

↓

49% Y/Y

Coinbase Crypto Trading Volume Market Share2

↓

10.7%

vs. 5.6% in Q3'25

Assets on Platform2 % of Total Crypto Market Capitalization2

Flat Y/Y, maintaining peak level

12.5%

Average Daily

Loan Book Balance2

74% Y/Y

Paid Coinbase One Subscribers2

24% Y/Y

↓

↓

↓

[1] Measured based on when the product generated $200 million in quarterly annualized net revenue for the most recent qualifying quarter. [2] Refer to Definitions in the Appendix for Average USDC Held in Coinbase Products, Average Daily Loan Book Balance, Coinbase Crypto Trading Volume Market Share, Assets on Platform, Total Crypto Market Capitalization, AOP as a % of Total Crypto Market Capitalization, and Paid Coinbase One Subscribers. Trading volume measurements represent the U.S. dollar equivalent value of the product of the quantity of assets transacted and the trade price of the underlying asset at the time the transaction was executed.

Q3'26 EARNINGS

5.6%

Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Note: This definition and the figures above have been adjusted to capture the impact of Stablecoin Conversion activity on our platform during the period of measurement.

2.0%

1.8%

2.2%

2.6%

2.8%

4.9%

6.3%

7.1%

8.4%

9.1%

10.3%

10.7%

Coinbase Crypto Trading Volume Market Share1

• Fourth consecutive quarter of growth in Crypto Trading Volume Market Share, driven by gains in both spot & derivatives

• Spot share gains driven by stablecoin demand globally

• Derivatives share growth driven by momentum across our products

• INTX/Deribit integration completed in October; some near-term volatility in volumes expected as participants adjust to combined platform

[1] Refer to Definitions in the Appendix for Coinbase Crypto Trading Volume Market Share. Trading volume measurements represent the U.S. dollar equivalent value of the product of the quantity of assets transacted and the trade price of the underlying asset at the time the transaction was executed. Coinbase Crypto Trading Volume Market Share relies in part on third-party data and a proprietary competitor set, which may be refined over time. Figures are presented rounded; trend commentary may reflect unrounded data. Previously reported figures may not be revised if the change is immaterial, in accordance with applicable policies.

7

Q3'26 EARNINGS

Assets on Platform1 and % of Total Crypto Market Capitalization1

Assets on Platform ($B)

% of Total Crypto Market Cap1

12.5%

12.3%

12.5%

12.1%

12.0%

11.9%

12.0% 12.0%

$516

11.2%

11.2%

11.2%

11.0%

$404

$425

$376

$377

$323

$328

$294

10.2%

$261 $264

$246

$191

$114

Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

• Returned to peak levels of AOP market share & expanded lead as the largest platform for crypto stored globally

• Q3 inflows to ETFs we custody; offset nearly all outflows since last year

• Continued trend of strong native unit growth across customer base

• Benefits from asset mix as blue chips like BTC & ETH had stronger performance than market in Q3

[1] Refer to Definitions in the Appendix for Assets on Platform, Total Crypto Market Capitalization, and AOP as a % of Total Crypto Market Capitalization.

8

Leading stablecoin platform, with ~30% of Average USDC Held in Coinbase Products

~9x USDC Held in Coinbase Products

Average USDC Held in Coinbase Products ($B)

$76

$75

$77

$73

$68

$61

$54

$38

$33

$35

$26

$28

$25

Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Average USDC Held in Coinbase Products1 and Average USDC Market Capitalization1

~3x USDC Circulation

Average Off-Platform USDC Balances ($B)

Note: Figures presented may not calculate precisely due to rounding.

[1] Refer to Definitions in the Appendix for Average USDC Held in Coinbase Products and Average USDC Market Capitalization.

Q3'26 EARNINGS

• New ATH of $22B Average USDC Held in Coinbase Products in Q3, or ~30% of average USDC Market Cap

• Reflects full quarter impact of Hyperliquid USDC balance, which arrived in June

• Over the past year, we have captured ~50% of all USDC economics; onchain partnerships and deeper product integration driving greater USDC adoption

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Q3'26 EARNINGS

1

Everything Exchange

Trade every asset class in one place: crypto, equities, prediction markets, commodities, and FX with deep liquidity and capital efficiency.

2

Stablecoins & Payments

Enable money to move globally at the speed of the internet.

3

Onchain

Update the financial system by bringing trading, payments, and agents onchain.

10

1

Q3'26 EARNINGS

Crypto Derivatives Trading Volume1 TTM ($B)

Crypto Derivatives Trading Volume (TTM) Crypto Derivatives Trading Volume Market Share1 (TTM)

$4,224

$4,221

$4,341

$3,996

$3,241

$2,520

$1,570

$851

$311

Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

• Building broadest suite of regulated derivatives globally

  • Derivatives volume continues to outpace the market

    • 179% compound annual growth last 2 years

  • Leading open interest in global options; ATH open interest in the U.S.

  • 4th consecutive quarter of derivatives trading volume market share gains

• What's Next:

  • INTX/Deribit integration completed in October, creating the only unified, regulated, global exchange for U.S. and ex-

    U.S. customers

  • Some near-term volatility expected as participants adjust

  • Coinbase Pro relaunch in Q4 - spot, futures, perpetuals, options, and equities in a unified portfolio for more buying power and a modular, advanced trading platform

    [1] Refer to Definitions in the Appendix for Crypto Derivatives Trading Volume and Crypto Derivatives Trading Volume Market Share.

    11

    1

    Prediction markets grew to over $200M in annualized revenue1

    Q3'26 EARNINGS

    Prediction Markets Revenue

    82% Quarterly

    Compound Growth

    Q1'26

    Q2'26

    Q3'26

• One of our fastest growing products by revenue in history

  • Diversified contract mix with non-sports categories showing strong growth through seasonally slower sports months

  • Recurring contracts (e.g., crypto volatility) driving durable engagement between major events

• Expanding user base and growing platform engagement

  • Daily traders up 60%+ Q/Q2

  • Incrementality: users who trade predictions are driving incremental spot volume

• What's Next:

  • Broaden Engagement: event hubs (e.g., midterms), CB1 integration, and a new prosumer product

  • Improving Economics: building toward USDC-native, in-house clearing and end-to-end infrastructure

[1] Measured based on when the product generated $200 million in quarterly annualized net revenue for the most recent qualifying quarter. [2] Measured as daily users that executed a predictions markets trade, averaged over the period of measurement.

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1

Q3'26 EARNINGS

Paid Coinbase One Subscribers1 have:

3.5x

Higher ARPU2

4.2x

Higher Balancesper User3

50%+

Higher LT Trading Retention4

USDC benefits 3.75% APY rewards on USDC and up to 7%+ when lending USDC7

Coinbase One Card Up to 4% BTC back, 5% back on travel8

Additional benefits 1% back on mortgages, free wire transfers, priority support/concierge, and more

[1] Refer to Definitions in the Appendix for Paid Coinbase One Subscribers. [2] Measured as revenue generated across trading, staking, instant transfer, Borrow/Lend products, and subscriptions on a per user basis for Paid Coinbase One Subscribers relative to non-subscriber retail users during the period of measurement. Non-subscriber retail users are consumers that generated revenue during the period of measurement. [3] Measured as the value of the balance in a consumer account at the end of the period on a per user basis for Paid Coinbase One Subscribers relative to non-subscriber consumers. Non-subscriber consumers are consumers that have non-zero account

balances as of the date of measurement. [4] Measured as long-term trading retention of Paid Coinbase One Subscribers relative to non-subscriber retail trading users. Non-subscriber retail trading users are consumers that are not subscribed to Coinbase One and completed a trade during the period of measurement. Long-term trading 13

retention is measured as the average quarterly trading retention of users over a two-year lookback period. Trading retention is measured as the percent of users completing at least one trade during the period of measurement. [5] Spot crypto trades only. Coinbase Advanced and DEX fees excluded. A spread applies. [6] Limited warranty against unauthorized crypto transfers. [7] Rewards rates and lending rates are subject to change. [8] Rewards rates are tiered at 2%, 3%, and 4%, based on your assets on Coinbase. Note: Some membership benefits are not available in all regions and are not available to all users.

2

Q3'26 EARNINGS

Powering businesses with full stack stablecoin solutions

Coinbase Developer Platform TPV1

160% Quarterly Compound Growth

Q4'25

Q1'26

Q2'26

Q3'26

[1] Coinbase Developer Platform Total Payments Volume refers to the U.S. dollar equivalent value of completed payment transactions processed through Coinbase Developer Platform payment products during the period of measurement. Coinbase Developer Platform TPV includes volume from payment acceptance, payments APIs, manual custody transfers, payment orchestration, consumer-facing payment flows, third-party activity via authorized OAuth integrations, and fiat-crypto or fiat-stablecoin funding transactions. x402 micropayment protocol volume is not included in this figure.

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3

Q3'26 EARNINGS

Base is a leader across trading and onchain capital markets

#1

L2 for spot crypto trading in Q31

#1

L2 in DeFi Total Value Locked as of Q32

Coinbase Average Borrow/Lend Balances3 ($M)

$1B+ Y/Y growth

$1,866

$1,491

$1,330

$1,230

$610

Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

Coinbase Tokenized Stock Volume4

$1B+ volume on Base since launch

08/19 08/26 09/02 09/09 09/16 09/23 09/30

[1] Spot crypto trading refers to the total U.S. dollar equivalent value of crypto and stablecoin pair spot trading settled on decentralized exchanges on major L2 blockchain networks. This figure excludes tokenized equities volume. Source: DefiLlama and Allium. [2] DeFi total value locked

("TVL") refers to the total U.S. dollar equivalent value of assets held in smart contracts of all protocols on major L2 blockchain networks as of the date of measurement. Source: DefiLlama. [3] Refer to Definitions in the Appendix for Average Borrow/Lend Balances. [4] Coinbase Tokenized Stock 15

Volume refers to the total U.S. dollar equivalent value of trading volume in tokenized equities for which Coinbase is the tokenizer, settled on the Base blockchain network. Source: Token Terminal.

Q3'26 EARNINGS

1

The onchain economy has reached escape velocity

2

Coinbase's full stack platform is powering it

3

The next frontier is agentic and on Coinbase

16

Q3 Summary Financial Results

Q3'26 EARNINGS

Total revenue

Transaction revenue

Subscription & services revenue

Net income

Adjusted EBITDA1

Cash & cash equivalents

[1] Adjusted EBITDA is a non-GAAP financial measure. See Appendix for definition and reconciliation.

Q3'26 EARNINGS

Grew Coinbase Crypto Trading Volume Market Share4 for 4th consecutive quarter, gaining share in both Spot and Derivatives

$200M+ annualized revenue1; 82% quarterly compound growth2

S&S grew +3% Q/Q to 49% of net revenue

Adjusted Expenses3 lower than Q3 outlook

Total Market Crypto Spot Trading Volume⁴ and Total Market Crypto Derivatives Trading Volume⁴ declined 6% and 11% Q/Q, respectively

Crypto Asset Volatility4 declined 15% Q/Q and reached new multi-year lows suppressing trading activity

Total Crypto Market Capitalization4 was up 37% Q/Q

[1] Measured based on when the product generated $200 million in quarterly annualized net revenue for the most recent qualifying quarter. [2] Since launch. [3] Adjusted Expenses is a non-GAAP financial measure. See Appendix for definition and reconciliation. [4] Refer to Definitions in the Appendix for Coinbase

Crypto Trading Volume Market Share, Total Market Crypto Spot Trading Volume, Total Market Crypto Derivatives Trading Volume, Crypto Asset Volatility, and Total Crypto Market Capitalization. 18

Q3'26 EARNINGS

[1] Adjusted Expenses is a non-GAAP financial measure. See Appendix for definition and reconciliation. 19

Total revenue of $1.2B stable Q/Q as market sentiment began to shift

Total Revenue

TTM Total Revenue Total Revenue ($M)

$2,272

$2,034

$1,869

$1,781

$1,638

$1,450

$1,497

$1,413

$1,205

$1,220 $1,216

$954

$674

Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26

[1] Refer to Definitions in the Appendix for Total Market Crypto Trading Volume, Average Crypto Market Capitalization, and Crypto Asset Volatility.

Q3'26 EARNINGS

• $1.2B total revenue was flat Q/Q against a backdrop of a decline in Total Market Crypto Trading Volume1

  (-10% Q/Q) and flat Average Crypto Market Capitalization1

• Transaction revenue declined 1% Q/Q as Crypto Asset Volatility1 reached multi-year lows

• Subscription & services represented 49% of net revenue, providing diversification and support independent of transaction revenue

20