13G Filing: Coatue Management and Shopify Inc (US) (SHOP)

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Instruction: For computations regarding securities which represent
a right to acquire an underlying security see §240.13d-3(d)(1).

Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.

If any other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should
be included in response to this item and, if such interest relates to more than five percent of the class, such person should be
identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.

All securities reported in this Schedule 13G are owned by advisory clients of Coatue Management, L.L.C. None of the advisory clients, with the exception of Coatue Offshore Master Fund LP, individually owns more than 5% of the outstanding shares of Class A Subordinate Voting Shares of the Issuer.
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

If a parent holding company or control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification
of the relevant subsidiary. If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or
Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.

See Exhibit B attached hereto.
Item 8. Identification and Classification of Members of the Group.

If a group has filed this schedule pursuant
to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach
an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant
to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group.

Not Applicable
Item 9. Notice of Dissolution of Group.

Notice of dissolution of a group may be furnished
as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported
on will be filed, if required, by members of the group, in their individual capacity. See Item 5.

Not Applicable
Item 10. Certification.

By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant
in any transaction having that purpose or effect, other than activities solely in connection with
a nomination under § 240.14a-11
.

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