Investor Presentation – Aug. 2016

Safe Harbor Statement

These slides may contain projections or other forward-looking statements regarding future events, including but not limited to, those regarding our business

outlook for the full year of 2016. These statements involve risks and uncertainties, and actual events or results may differ materially. Among the important factors

that could cause actual results to differ materially from those in the forward-looking statements are our dependence on sales of our capture devices for

substantially all of our revenue and the effect of a fall in sales during the holiday season; the fact that we do not expect to continue to grow in the future at the

same rate as we have in the past, that we may fail to manage our growth, and profitability in recent periods might not be indicative of future performance; any

inability to successfully manage frequent product introductions and transitions or to anticipate consumer preferences and successfully develop desirable

products; the risks associated with our expected entrance into the consumer drone market; the effects of the highly competitive market in which we operate; the

risks related to inventory, purchase commitments and long-lived assets; difficulty in accurately predicting our future customer demand; the importance of

maintaining the value and reputation of our brand; and other factors detailed in the Risk Factors section of our Annual Report on Form 10-K for the year ended

December 31, 2015, which is on file with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof or as of

the date otherwise stated herein. GoPro disclaims any obligation to update these forward-looking statements.

We report gross margin, operating expenses, operating income (loss), net income (loss) and diluted net income (loss) per share in accordance with U.S.

generally accepted accounting principles (GAAP) and additionally on a non-GAAP basis. Non-GAAP items exclude, where applicable, the effects of stock-based

compensation, acquisition-related costs, restructuring costs and the tax impact of these items. Additionally, we report non-GAAP adjusted EBITDA. We believe

that non-GAAP information is useful because it can enhance the understanding of our ongoing economic performance. We use non-GAAP reporting internally to

evaluate and manage our operations. We have chosen to provide this information to investors to enable them to perform comparisons of operating results in a

manner similar to how we analyze our own operating results.

A full reconciliation of GAAP to non-GAAP financial data can be found in the appendix to this slide package and in our Q2 2016 earnings press release issued

on July 27, 2016, which should be reviewed in conjunction with this presentation.

Certain data in this presentation was obtained from various external sources, and neither the Company nor its affiliates, advisers or representatives has verified

such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the

accuracy or completeness of that data or to update such data after the date of this presentation. Such data involves risks and uncertainties and is subject to

change based on various factors.

The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an

endorsement of the products or services of the Company or this proposed offering.2

GOPRO BY THE NUMBERS

• 2Q16 unit sell-thru was up approximately 10% Q/Q and down less than 10% Y/Y

• 2Q16 sell-thru exceeded sell-in by over 50%, reducing channel and GoPro inventory sequentially by ~35% and ~36%, respectively

• GoPro’s $399 and above cameras accounted for 50%+ of units shipped

• ~22 million cumulative cameras shipped thru 2Q16, including 759K cameras shipped in 2Q16

• Quik & Splice mobile editing apps have been downloaded a combined 37 million times. The GoPro App has ~29 million cumulative downloads and installs of GoPro Studio have reached 17.7 million

• • • • • • • • • • •• • • • • • • • • • • • • • • • • • • • • •• • • • • • • • • • • • • • • • • • • • • • • •

ESTABLISHED

IN 2004

HQ IN

SAN MATEO

1621

EMPLOYEES

IPO IN

JUNE 2014

Sources: NPD, GfK, & GoPro as of 6/30/2016 3

MARKET SHARE

• Market Share • GoPro accounted for 6 of the top 10 products on a unit basis, including the top 3 spots, for 2Q16 in the

combined digital camera/camcorder category in the U.S.*

• HERO4 Silver remains the best-selling digital image camera on a unit and dollar basis for the seventh consecutive quarter.*

• By our estimate, HERO Session was the #2 best-selling camera on a unit basis for the second consecutive quarter in the U.S.

• 2Q16 digital camera/camcorder leading unit share in the U.S. increased 110 basis points YoY to 21.3%.*

• 2Q16 digital imaging unit share in Europe increased 110 basis points YoY to 9.4%.**

• GoPro accounted for 4 of the top 5 camcorders in Europe on a unit basis.**

4Sources: *NPD, **GfK, GoPro as of 6/30/2016

RECENT ANNOUNCEMENTS

• Recent Announcements• Announced an exclusive partnership with Reliance Digital, India's largest Consumer Electronics retailer, that will

put GoPro's cameras, mounts and accessories, on the shelves of up to 1,800 Reliance Digital across India.

• Lauren Zalaznick was appointed to GoPro's Board of Directors. A 12-year executive at NBCUniversal, Ms. Zalaznick has devoted her career to transforming the cultural landscape in media, and has been named one of Time's 100 Most Influential People and Fortune's 50 Most Powerful Women.

• Signed content partnerships to create episodic content with some of the world's most recognized brands including Ford, Wimbledon, and Real Madrid. The first series, produced with Ford Motor Company titled "Unstoppable Life," profiles GoPro athletes who demonstrate the perseverance and determination on their respective life journeys.

• Launched GoPro Care to U.S. consumers, a fee-based service offering a range of support options, including extended warranty and accidental damage coverage.

• Entered into a multi-year, global agreement with Red Bull that included content production, distribution, and cross-promotion through which GoPro will become Red Bull's exclusive provider of point-of-view imaging technology. Content to be distributed across both Red Bull and GoPro's digital distribution networks, including The GoPro Channel, Red Bull TV, RedBull.com and in the Red Bull Content Pool, Red Bull's media service platform.

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ABOUT US

what we make

World’s Most Versatile Capture Devices

what we do

Enable EngagingContent

6

Why GoPro Matters

7

People are spending more time online sharing personal experiences through photos and video

GoPro enables the world to capture and share its passion in the form of immersive and engaging content

8

GOPRO MODEL: A VIRTUOUS CYCLE

CAPTURE, ACCESS, & SHAREENGAGING CONTENT

VIRALLY SCALES AWARENESS + ENTHUSIASM

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MARKET LEADING PRODUCT LINE & FEATURES

$499.99$399.99$199.99

MSRP’s

Hilight Tagging

Trim n Share

GoPro App for the Apple Watch

Periscope – Live Streamingfrom a GoPro HERO4 Blackor Silver

Software features

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ATTRACTIVE MARKET OPPORTUNITY

MATURE CE PRODUCTS

30mm+

DIGITAL CAMERAS & CAMCORDERS

50mm+

NEW MEDIA CAPTURE

OPPORTUNITIES

5.1mm units (TTM)

Note: Portable navigation device market representative of mature CE products. Source: IDC 2014, Technavio.

CONTENT DRIVEN MODEL CREATES ORGANIC MEDIA OPPORTUNITIES

Software

Services

Licensing

Advertising

Linear programming

OTT

ANNUAL UNIT MARKET OPPORTUNITY

Virtual Reality

Drone

User-Generated-Content

Social

OUR MISSION: ELIMINATE THE PAIN POINTS OF CAPTURING, ACCESSING AND SHARING ENGAGING CONTENT

PHASE I

CAPTURE ACCESSMAXIMIZE SHARING &

ENJOYMENT

LEADING CAPTURE

BRAND

GoPro Desktop App w/

GoPro Studio, Quik &

Splice

+

PHASE II

Cross Platform Content Management & Editing

Solutions

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LEADING

ACCESSORY BRAND

GOPRO PLATFORM – INCREASINGLY MOBILE

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37 million cumulative downloads

GoPro Studio

29 million cumulative

downloads

43,500 average

exports per day

during 2Q16, up

15% Y/Y

PARTICIPATING IN TODAY’S MEGA-TRENDS

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• Drones

• Karma, GoPro’s drone, to be released in the second half of 2016

• User Generated Content

• Consumers watch more UGC today than ever before

• Social Media

• Global audience for shared GoPro content

• Stokes the virtuous cycle

• Virtual Reality – Omni & Odyssey

• GoPro broadly used for VR capture today

• Partnerships with Google, Facebook and others

• GoPro VR mobile app for 360-degree & VR reality content

Odyssey

Omni

GoPro

VR App

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MARKETINGCONSUMERMARKETING

LIFESTYLEMARKETING

CHANNEL MARKETING

TV

TOP TIEREVENTS

RESORTS / CAMPS GLOBAL TRADESHOWS

SOCIAL 160+ GOPRO ATHLETESKelly SlaterShaun WhiteMissy Franklin

STRATEGIC MARKETING AND BRANDING

OUT-OF-HOME ADVERTISINGPRINT ADS

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DISTRIBUTION – POINT OF PURCHASE

Custom video-enabled point-of-purchase displays distributed in over 45,000 retail locations, globally

Available in 2ft, 3ft and 4ft and 12ft footprints

12 ft POP display

4 ft POP display2 ft POP display

STRONG NETWORK OF DIRECT AND DISTRIBUTOR SALES

STRONG NETWORK OF INTERNATIONAL DISTRIBUTORS

- China increased 1H16 sell-thru by ~140% Y/Y, while maintaining price discipline

- Korea retail locations reached ~680 stores in 2Q16, a Q/Q increase of ~65%

- Japan 2Q16 store count increased 25% Y/Y helping to drive a 91% Y/Y increase in sell-thru.

- GoPro’s market share in Japan increased 15 percentage points Y/Y to 42%

- Signed an exclusive partnership in 2Q16 with Reliance Digital, India’s largest consumer electronics retailer

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BIG BOX RETAIL MID MARKET RETAIL SPECIALTY RETAIL

GLOBAL FOOTPRINT45,000+ Retail Locations, 100+ countries

DIRECT -> 58% OF 2Q16 REVENUE DISTRIBUTION -> 42% OF 2Q16 REVENUE

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Extensive multi-faceted marketing

efforts

Sophisticated and efficient global

supply chain

Meaningful investment in

product development – over

650* R & D employees

Aspirational brand with #1 market

position

Unparalleled social engagement –

compelling and engaging content drives viewership

and adoption

Mission to eliminate pain points of

capturing, managing and sharing engaging

content

Global distribution footprint – 40,000+

retail outlets in 100+ countriesPOP displays as

unique marketing tool

SIGNIFICANT BARRIERS TO ENTRY

* As of 12/31/2015

FINANCIAL OVERVIEW

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$986

$1,394

$1,620

$1,350

$420

$221

2013 2014 2015 2016E 2Q15 2Q16

REVENUE• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •• • • • • • • • • • • • •

$ in millions

3.8

5.2

6.6

1.6

0.8

2013 2014 2015 2Q15 2Q16

CAPTURE DEVICE UNITS SHIPPED• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •• • • • • • • • • • • • •

Units in millions

$1,500*~22 million cumulative units

* 2016 revenue guidance of between $1.35 billion and $1.5 billion, as of 7/27/2016

REVENUE & UNITS SHIPPED

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QUARTERLY TRENDS

35.2%

32.3%33.5%

42.0% 41.1%42.2%

44.5%

48.0%

45.2% 46.4%46.8%

29.6%

33.0%

42.4%

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16

QUARTERLY REVENUE QUARTERLY GROSS MARGIN*• • • • • • • • • • •• • • • • • • • • • • • • • •• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •• • • • • • • • • • • • • • •• • • • • • • • • • • • • • • • • • • • • • • • •

$255

$177$192

$361

$236 $245

$280

$634

$363

$420$400

$437

$184

$221

1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16

$ in millions

* Non-GAAP metric. See reconciliation in Appendix.

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SELECTED METRICS

2014 2015 2Q15 2Q16

ADJUSTED EBITDA* $293 $178 $75.3 $(76.8)

DAYS SALES OUTSTANDING 26 30 25 27

ANNUALIZED INVENTORY TURNS 9.8x 4.6x 4.7x 4.4x

CASH, CASH EQUIVALENTS & MARKETABLE SECURITIES

$422 $474 $517 $279

• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

$ in millions

* Non-GAAP metric. See reconciliation in Appendix.

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PRO FORMA LONG-TERM MODEL

2013 2014 2015 2Q16Long-Term

Annual Target

GROSS MARGIN %* 36.9% 45.1% 41.7% 42.4% 42-44%

OPERATING EXPENSES%*

25.6% 26.5% 33.0% 82.8% 24-26%

OPERATING MARGIN %* 11.2% 18.6% 8.7% (40.4)% 18-20%

ADJUSTED EBITDA %* 13.6% 21.0% 11.0% (34.8)% 21-23%

• • • • • • • • • • •• • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •

* Non-GAAP metric. See reconciliation in Appendix.

SUMMARY

• Aspirational brand focused on enabling the world to capture and share

its passion in the form of immersive and engaging content

• Participating in today’s mega-trends in social, OTT, virtual reality, drones

and entertainment

• Developing an ecosystem of partners, content distributors and products

• Investing in hardware & software that make is easier for GoPro users to

offload, access and edit their content

• HERO5 and Karma to be released in the second half of 201623

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APPENDIX

Appendix: GAAP to Non-GAAP Reconciliation

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To supplement our unaudited selected financial data presented on a basis consistent with GAAP, we disclose certain non-GAAP

financial measures, including non-GAAP gross profit, gross margin, operating expenses, operating income (loss), net income

(loss), earnings (loss) per share and adjusted EBITDA. These non-GAAP measures are not in accordance with, nor serve as an

alternative for GAAP. We believe that these non-GAAP measures have limitations in that they do not reflect all of the amounts

associated with our GAAP results of operations. These non-GAAP measures should only be viewed in conjunction with

corresponding GAAP measures.

In calculating non-GAAP financial measures, we exclude certain items to facilitate a review of the comparability of our core

operating performance on a period-to-period basis. The excluded items represent stock-based compensation and charges that are

primarily driven by discrete events that we do not consider to be directly related to core operating performance. We use non-GAAP

measures to evaluate the core operating performance of our business, for comparison with forecasts and strategic plans and for

calculating return on investment. In addition, management’s incentive compensation is determined using non-GAAP measures.

Since we find these measures to be useful, we believe that investors benefit from seeing results reviewed by management in

addition to seeing GAAP results. We believe that these non-GAAP measures, when read in conjunction with our GAAP financials,

provide useful information to investors by facilitating:

• the comparability of our on-going operating results over the periods presented;

• the ability to identify trends in our underlying business; and

• the comparison of our operating results against analyst financial models and operating results of other public companies

that supplement their GAAP results with non-GAAP financial measures.

Appendix: GAAP to Non-GAAP Reconciliation

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The following are explanations of each type of adjustment that we incorporate into non-GAAP financial measures:

• Stock-based compensation expense relates to equity awards granted primarily to our workforce. We exclude stock-based compensation

expense because we believe that the non-GAAP financial measures excluding this item provide meaningful supplemental information regarding

operational performance. In particular, we note that companies calculate stock-based compensation expense for the variety of award types that

they employ using different valuation methodologies and subjective assumptions. These non-cash charges are not factored into our internal

evaluation of net income as we believe their inclusion would hinder our ability to assess core operational performance. We believe that

excluding this expense provides greater visibility to the underlying performance of our business operations, facilitates comparison of our results

with other periods, and may also facilitate comparison with the results of other companies in our industry.

• Acquisition-related costs include the amortization of acquired intangible assets (primarily consisting of acquired technology), and third party

transaction costs incurred for legal and other professional services. These costs are not factored into our evaluation of potential acquisitions, or

of our performance after completion of the acquisitions, because they are not related to our core operating performance, and the frequency and

amount of such costs vary significantly based on the timing and magnitude of our acquisition transactions and the maturities of the businesses

being acquired.

• Restructuring costs primarily include severance-related costs recorded in connection with our global workforce reduction in January 2016. We

believe that excluding this expense provides greater visibility to the underlying performance of our business operations, facilitates comparison

of our results with other periods, and may also facilitate comparison with the results of other companies in our industry.

• Adjustment for taxes relates to the tax effect of the adjustments that we incorporate into non-GAAP measures in order to provide a more

meaningful measure of non-GAAP net income. We believe that these adjustments provide us with the ability to more clearly view trends in our

core operating performance.

• Additionally, adjusted EBITDA excludes the amortization of point-of-purchase (POP) display assets because it is a non-cash charge, and similar

to depreciation of property and equipment and amortization of acquired intangible assets.

Appendix: GAAP to Non-GAAP Reconciliation

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Appendix: GAAP to Non-GAAP Reconciliation

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Appendix: Adjusted EBITDA Reconciliation