Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 23, 2021, Condoleezza Rice notified the Board of Directors (the "Board") of Dropbox, Inc. ("Dropbox") that she will not stand for re-election at our 2021 Annual Meeting of Stockholders ("Annual Meeting"). She will continue to serve as a director until the date of our Annual Meeting.

"It's been a pleasure and a privilege to serve on the Dropbox Board of Directors," said Dr. Rice. "Being a part of the journey over the last seven years has been a rewarding experience and I'm proud of everything the team has accomplished. While I'll be moving on from the Board to focus on my other commitments, such as my recent appointment as Director of the Hoover Institution, I look forward to continuing to celebrate their wins as they build products and tools for the workforce of the future."

"I want to thank Dr. Rice for her many contributions to Dropbox over the years," said CEO and co-founder Drew Houston. "We've been so fortunate to have her guidance and expertise on our Board as we've matured from a fledgling startup into a thriving public company. We'll miss her and wish her all the best in her future endeavors."

Dropbox and the Board are grateful to Dr. Rice for her many contributions to the company.

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