# EDGAR Filing Document

**Accession Number:** 0001639920
**File Stem:** 0001140361-26-004626
**Filing Date:** 2026-2
**Character Count:** 35312
**Document Hash:** 48bcda1804f42255a987bbf9cc4965b0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-26-004626.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001140361-26-004626

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**EFFECTIVENESS DATE**: 20260210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Spotify Technology S.A.
- **CENTRAL INDEX KEY:** 0001639920
- **STANDARD INDUSTRIAL CLASSIFICATION:** RADIO BROADCASTING STATIONS [4832]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293353
- **FILM NUMBER:** 26616894

**BUSINESS ADDRESS:**
- **STREET 1:** 33 BOULEVARD PRINCE HENRI
- **CITY:** LUXEMBOURG
- **STATE:** N4
- **ZIP:** L-1724
- **BUSINESS PHONE:** 46 (70) 220-4607

**MAIL ADDRESS:**
- **STREET 1:** 33 BOULEVARD PRINCE HENRI
- **CITY:** LUXEMBOURG
- **STATE:** N4
- **ZIP:** L-1724

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM S-8

#### REGISTRATION STATEMENT

#### Under

#### THE SECURITIES ACT OF 1933

## SPOTIFY TECHNOLOGY S.A.

#### (Exact Name of Registrant as Specified in its Charter)

#### <br>

---

| | |
|:---|:---|
| **Grand Duchy of Luxembourg** | **98-1097620** |
| **(State or other jurisdiction of**incorporation or organization) | **(I.R.S. Employer**Identification No.) |

---

#### 33 Boulevard Prince Henri

#### L-1724 Luxembourg

#### Grand Duchy of Luxembourg

#### (Address, including zip code, of principal executive offices)

#### TERMS AND CONDITIONS GOVERNING EMPLOYEE STOCK OPTIONS 2026/2031 IN SPOTIFY TECHNOLOGY S.A.

#### TERMS AND CONDITIONS GOVERNING EMPLOYEE RESTRICTED STOCK UNITS 2026/2031 IN SPOTIFY TECHNOLOGY S.A.

#### TERMS AND CONDITIONS GOVERNING CONSULTANT STOCK OPTIONS 2026/2031 IN SPOTIFY TECHNOLOGY S.A.

#### TERMS AND CONDITIONS GOVERNING CONSULTANT RESTRICTED STOCK UNITS 2026/2031 IN SPOTIFY TECHNOLOGY S.A.

#### (Full title of the plan)

#### Kevan Choset

#### General Counsel

#### 150 Greenwich Street, 63rd Floor

#### New York, NY 10007

#### (Name, address and telephone number, including area code, of agent for service)

#### Copies to:

#### Julia A. Thompson

#### Latham & Watkins LLP

#### 555 11th Street, NW

#### Suite 1000

#### Washington, DC 20004-1304
(202) 637-2200

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
|  |  | Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

------

#### Part I

#### INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
**Item 1.** **Plan Information.**<br>

Not required to be filed with this Registration Statement.

**Item 2.** **Registrant Information and Employee Plan Annual Information.**<br>

Not required to be filed with this Registration Statement.

#### Part II

#### INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
*References in this Registration Statement to "we," "us," "our," and the "Company," or similar references, refer to Spotify Technology S.A., unless otherwise stated or the context otherwise requires.*

**Item 3.** **Incorporation of Documents by Reference.**<br>

The following documents, which have been filed by the Company with the United States Securities and Exchange Commission (the "<u>Commission</u>") pursuant to the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), are incorporated by reference in, and shall be deemed to be a part of, this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company's Annual Report on [Form 20-F](https://www.sec.gov/Archives/edgar/data/1639920/000162828026006874/ck0001639920-20251231.htm) for the year ended December 31, 2025, filed with the Commission on February 10, 2026 (File No. 001-38438); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the description of the Ordinary Shares contained in the Company's Registration Statement on [Form 8-A](https://www.sec.gov/Archives/edgar/data/1639920/000119312518089909/d530272d8a12b.htm) filed with the Commission on March 21, 2018 (File No. 001-38438), together with any amendment thereto filed with the Commission for the purpose of updating such description.

All reports and other documents filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered pursuant to this Registration Statement have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents or reports.

For purposes of this Registration Statement, any document or any statement contained in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded to the extent that a subsequently filed document or a statement contained therein, or in any other subsequently filed document which also is or is deemed to be incorporated by reference, modifies or supersedes such document or such statement in such document. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4.** **Description of Securities.**<br>

Not applicable.

**Item 5.** **Interests of Named Experts and Counsel.**<br>

Not applicable.

------

**Item 6.** **Indemnification of Directors and Officers.**<br>

The Company's articles of association provide that it will indemnify its directors and officers, past and present, to the fullest possible extent permitted under Luxembourg law, from and against all liability and expenses reasonably incurred or paid by him or her in connection with any claim, action, suit or proceeding in which he or she would be involved by virtue of his or her being or having been a director or officer and against amounts paid or incurred by him or her in the settlement thereof.

The Company will provide directors' and officers' liability insurance for its directors and officers against certain liabilities that they may incur in connection with their activities on behalf of the Company.

However, no indemnification will be provided against any liability to the Company's directors or officers (i) by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties of a director or officer, (ii) with respect to any matter as to which any director or officer shall have been finally adjudicated to have acted in bad faith and not in the interest of the Company, or (iii) in the event of a settlement, unless approved by a court of competent jurisdiction or the board of directors.

The rights to and obligations of indemnification among or between the Company and any of our current or former directors and officers are generally governed by the laws of Luxembourg and subject to the jurisdiction of the Luxembourg courts, unless such rights or obligations do not relate to or arise out of such persons' capacities listed above. Although there is doubt as to whether U.S. courts would enforce this indemnification provision in an action brought in the United States under U.S. federal or state securities laws, this provision could make it more difficult to obtain judgments outside Luxembourg or from non-Luxembourg jurisdictions that would apply Luxembourg law against our assets in Luxembourg.

**Item 7.** **Exemption from Registration Claimed.**<br>

Not applicable.

**Item 8.** **Exhibits.**<br>

The following documents are filed as exhibits to this Registration Statement:

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description of Exhibit** |
| 3.1 | [Amended and Restated Articles of Association of Spotify Technology S.A. (English Translation), as currently in effect (incorporated herein by reference to Exhibit 1.1 to the Company's Annual Report on Form 20-F for the year ended December 31, 2025 (File No. 001-38438) filed on February 10, 2026).](https://www.sec.gov/Archives/edgar/data/1639920/000162828026006874/spot-20251231xexx11.htm) |
| 5.1\* | [Opinion of Arendt & Medernach SA.](ef20063564_ex5-1.htm) |
| 23.1\* | [Consent of Arendt & Medernach SA (included in Exhibit 5.1).](ef20063564_ex5-1.htm) |
| 23.2\* | [Consent of Ernst & Young AB.](ef20063564_ex23-2.htm) |
| 24.1\* | [Power of Attorney (included on the signature page of this Registration Statement).](#POWEROFATTORNEY) |
| 99.1 | [Terms and Conditions Governing Employee Stock Options 2026/2031 in Spotify Technology S.A., Effective April 1, 2026 (incorporated herein by reference to Exhibit 4.3 to the Company's Annual Report on Form 20-F for the year ended December 31, 2025 (File No. 001-38438) filed on February 10, 2026).](https://www.sec.gov/Archives/edgar/data/1639920/000162828026006874/spot-20251231xexx43.htm) |
| 99.2 | [Terms and Conditions Governing Employee Restricted Stock Units 2026/2031 in Spotify Technology S.A., effective April 1, 2026 (incorporated herein by reference to Exhibit 4.7 to the Company's Annual Report on Form 20-F for the year ended December 31, 2025 (File No. 001-38438) filed on February 10, 2026).](https://www.sec.gov/Archives/edgar/data/1639920/000162828026006874/spot-20251231xexx47.htm) |
| 99.3 | [Terms and Conditions Governing Consultant Stock Options 2026/2031 in Spotify Technology S.A., effective April 1, 2026 (incorporated herein by reference to Exhibit 4.13 to the Company's Annual Report on Form 20-F for the year ended December 31, 2025 (File No. 001-38438) filed on February 10, 2026).](https://www.sec.gov/Archives/edgar/data/1639920/000162828026006874/spot-20251231xexx413.htm) |
| 99.4 | [Terms and Conditions Governing Consultant Restricted Stock Units 2026/2031 in Spotify Technology S.A., effective April 1, 2026 (incorporated herein by reference to Exhibit 4.15 to the Company's Annual Report on Form 20-F for the year ended December 31, 2025 (File No. 001-38438) filed on February 10, 2026).](https://www.sec.gov/Archives/edgar/data/1639920/000162828026006874/spot-20251231xexx415.htm) |
| 107\* | [Filing Fee Table.](ef20063564_ex107.htm) |

---

\* Filed herewith.

------

**Item 9.** **Undertakings.**<br>

(a) The undersigned Company hereby undertakes:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

(ii) To reflect in the prospectus any facts or events arising after the effective date of this Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;

(iii) To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;

*provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) shall not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Company pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this Registration Statement.

(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) To file a post-effective amendment to this Registration Statement to include any financial statements required by Item 8.A. of Form 20-F at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required by Section 10(a)(3) of the Securities Act need not be furnished, *provided* that the registrant includes in the prospectus, by means of a post-effective amendment, financial statements required pursuant to this paragraph (a)(4) and other information necessary to ensure that all other information in the prospectus is at least as current as the date of those financial statements.

(b) The undersigned Company hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

------

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on February 10, 2026.

---

| | |
|:---|:---|
| **SPOTIFY TECHNOLOGY S.A.** | **SPOTIFY TECHNOLOGY S.A.** |
| By: | /s/ Christian Luiga |
|  | Christian Luiga |
|  | *Chief Financial Officer* |

---

------

#### POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints Christian Luiga and Kevan Choset, and each of them severally, his or her true and lawful attorney-in-fact, with the power of substitution, for him or her in any and all capacities, to sign any amendments (including post-effective amendments) to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Daniel Ek | Founder and Executive Chairman | February 10, 2026 |
| Daniel Ek |  |  |
| /s/ Alex Norström | Co-Chief Executive Officer and Director | February 10, 2026 |
| Alex Norström | (Principal Executive Officer) |  |
| /s/ Gustav Söderström | Co-Chief Executive Officer and Director | February 10, 2026 |
| Gustav Söderström | (Principal Executive Officer) |  |
| /s/ Christian Luiga | Chief Financial Officer | February 10, 2026 |
| Christian Luiga | (Principal Financial Officer) |  |
| /s/ Paul Sawyer | Chief Accounting Officer | February 10, 2026 |
| Paul Sawyer | (Principal Accounting Officer) |  |
| /s/ Martin Lorentzon | Director | February 10, 2026 |
| Martin Lorentzon |  |  |
| /s/ Christopher Marshall | Director | February 10, 2026 |
| Christopher Marshall |  |  |
| /s/ Barry McCarthy | Director | February 10, 2026 |
| Barry McCarthy |  |  |
| /s/ Shishir Mehrotra | Director | February 10, 2026 |
| Shishir Mehrotra |  |  |
| /s/ Heidi O'Neill | Director | February 10, 2026 |
| Heidi O'Neill |  |  |
| /s/ Ted Sarandos | Director | February 10, 2026 |
| Ted Sarandos |  |  |
| /s/ Thomas Staggs | Director | February 10, 2026 |
| Thomas Staggs |  |  |
| /s/ Mona Sutphen | Director | February 10, 2026 |
| Mona Sutphen |  |  |
| /s/ Padmasree Warrior | Director | February 10, 2026 |
| Padmasree Warrior |  |  |

---

------

#### AUTHORIZED REPRESENTATIVE
Pursuant to the requirements of the Securities Act of 1933, the registrant's duly authorized representative has signed the registration statement on Form S-8, in the City of New York, State of New York, on February 10, 2026.

---

| | |
|:---|:---|
| By: | /s/ Kevan Choset |
| Name: | Kevan Choset |
| Title: | Authorized Representative in the United States |

---

------

## Exhibit 5.1

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#### Exhibit 5.1<br>

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| |
|:---|
| To the Board of Directors<br> of Spotify Technology S.A.<br> 33, Boulevard Prince Henri,<br> L-1724 Luxembourg<br> Grand Duchy of Luxembourg |
| Luxembourg, 10 February 2026 |
| Your ref.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; : / |
| Our ref.&nbsp;&nbsp;&nbsp;&nbsp; : 49797/ 45144042 |
| Guy.Harles@arendt.com |
| Tel. : (352) 40 78 78-253 |
| Fax : (352) 40 78 04-634 |

---

#### Spotify Technology S.A. – S-8 Registration Statement

Ladies and Gentlemen,

We are acting as Luxembourg counsel for Spotify Technology S.A., a Luxembourg *société anonyme*, having its registered office at 33, Boulevard Prince Henri, L-1724 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register (*Registre de Commerce et des Sociétés de Luxembourg*) under number B123052, (the "**Company**") in connection with the Company's filing of a registration statement on Form S-8 with the U.S. Securities and Exchange Commission (the "**Registration Statement**") relating to the registration of stock options and restricted stock units with respect to twenty million six hundred twenty thousand (20,620,000) ordinary shares, each with a nominal value of zero point zero zero zero six hundred twenty-five euro (€ 0.000625) per share (the "**Plan Shares**") which may be issued or granted by the Company under the Incentive Plans (as this term is defined below). The Plan Shares to be newly issued by the Company under the Incentive Plans, if applicable, are hereinafter referred to as the "**New Plan Shares**" whereas the Plan Shares to be granted by the Company under the Incentive Plans out of the treasury shares held by the Company as of the date of the present opinion are hereinafter referred to as the "**Treasury Shares**".

**1.** **Scope**

In arriving to the opinions expressed below, we have examined and relied on the documents identified in Appendix A hereto as well as on such corporate records as have been disclosed to us and such certifications made to us, which we deemed necessary and appropriate as a basis for the opinions hereinafter expressed.

------

**2.** **Assumptions**

We have assumed for the purposes hereof that the Company will at all times continue to have a sufficient authorised unissued share capital and sufficient authorised unissued ordinary shares with the relevant waivers in force, to issue the New Plan Shares to be issued under the Incentive Plans. We have also assumed that the Company will at all times continue to have sufficient Treasury Shares to grant the Treasury Shares to be granted under the Incentive Plans. We have further assumed that the board of directors of the Company or its duly authorised delegates will duly pass the relevant resolutions for the issue and/or grant of the Plan Shares in accordance with the Restated Articles of Association, the terms of the Incentive Plans and applicable law.

For the purposes of the present opinion we have further assumed (i) the genuineness of all signatures and seals and that all documents reviewed are duly signed by the persons purported to have signed them; (ii) the completeness and conformity to originals of all documents supplied to us as certified, photostatic, scanned, electronically transmitted copies or other copies of the documents reviewed and the authenticity of the originals of such documents and the conformity to originals of the latest drafts reviewed by us; (iii) that each of the documents is true, complete, up-to-date and has not been rescinded or supplemented and there have been no amendments to the documents in the form delivered to us for the purposes of this opinion; (iv) that there is no other resolutions, decisions, agreement or undertaking and no other arrangement (whether legally binding or not) which renders any of the documents or information reviewed or provided to us inaccurate, incomplete or misleading or which affects the conclusions stated in this opinion and that the documents reviewed accurately record the whole of the terms agreed between the parties thereto relevant to this opinion; (v) that no proceedings have been instituted or injunction granted against the Company to restrain it from performing any of its obligations under the Incentive Plans and/or issue or grant the Plan Shares; (vi) that the terms used in the documents reviewed carry the meaning ascribed to them in vernacular English; (vii) that the terms governing the Incentive Plans are legal, valid and binding under their respective applicable laws; (viii) that the corporate bodies of the Company have approved the issuance and/or grant of the Plan Shares in accordance with applicable laws; (ix) that upon issue of any New Plan Shares the Company will receive payment in cash of an issue price at least equal to the nominal value thereof; (x) that the New Plan Shares will be issued within the limits of the authorized share capital of the Company; (xi) that there will be no amendments to the authorised share capital of the Company which would adversely affect the issue of the New Plan Shares and the conclusions stated in this opinion; (xii) that upon issue of any Treasury Shares the Company received payment in cash of an issue price at least equal to the nominal value thereof or that the relevant Treasury Shares were issued by way of incorporation of available reserves into the share capital; (xiii) that the Treasury Shares have been legally acquired by the Company; (xiv) that the head office (*administration centrale*), the place of effective management (*siège de direction effective*), and, for the purposes of the regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast) (the "**Insolvency Regulation**"), the center of main interests (*centre des intérêts principaux*) of the Company are located at the place of its registered office (*siège statutaire*) in Luxembourg; and (xv) that during the search made on the date hereof on the Luxembourg Trade and Companies Register (*Registre de Commerce et des Sociétés de Luxembourg*), the information published with respect to the Company was complete, up-to-date and accurate at the time of such search and has not been modified since such search.

We express no opinion as to any laws other than the laws of the Grand Duchy of Luxembourg and this opinion is to be construed under Luxembourg law and is subject to the exclusive jurisdiction of the courts of Luxembourg.

------

The opinions expressed herein are subject to all limitations by reason of : the commencement of any insolvency proceedings such as administrative dissolution without liquidation (*dissolution administrative sans liquidation*), bankruptcy (*faillite*), insolvency, winding-up, liquidation, moratorium, suspension of payment (*sursis de paiement*), conciliation (*conciliation*), reorganisation procedure in the form of a mutual agreement (*réorganisation par accord amiable*), judicial reorganisation proceedings in the form of a mutual agreement (*réorganisation judiciaire par accord amiable*), a collective agreement (*réorganisation judiciaire par accord collectif*) or a transfer by court order (*réorganisation judiciaire par transfert par décision de justice*), fraudulent conveyance, general settlement with creditors, reorganisation or similar national or foreign measures, orders or proceedings affecting the rights of creditors generally.

**3.** **Opinion**

Based on the foregoing, and having regard for such legal considerations as we have deemed relevant, we are of the opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;3.1. The New Plan Shares, once subscribed, fully paid-up and issued under the Authorized Share Capital and in accordance with the Restated Articles of Association and the Incentive Plans , will be validly issued, fully paid and non-assessable (within the meaning that the holder of such shares shall not be liable, solely because of his or her or its shareholder status, for additional payments to the Company or
 the Company's creditors).

&nbsp;&nbsp;&nbsp;&nbsp;3.2. The Treasury Shares have been validly issued, fully paid up and are non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.** **Qualifications** 

This opinion speaks as of the date hereof and is subject to all limitations by reason of insolvency proceedings such as administrative dissolution without liquidation (*dissolution administrative sans liquidation*), bankruptcy (*faillite*), insolvency, winding-up, liquidation, moratorium, suspension of payment (*sursis de paiement*), conciliation (*conciliation*), reorganisation procedure in the form of a mutual agreement (*réorganisation par accord amiable*), judicial reorganisation proceedings in the form of a mutual agreement (*réorganisation judiciaire par accord amiable*), collective agreement (*réorganisation judiciaire par accord collectif*) or transfer by court order (*réorganisation judiciaire par transfert par décision de justice*), fraudulent conveyance, general settlement with creditors, reorganisation or similar national or foreign measures, orders or proceedings affecting the rights of creditors generally. No obligation is assumed to update this opinion or to inform any person of any changes of law or other matters coming to our knowledge and occurring after the date hereof which affect the opinion in any respect.

This opinion is issued solely for the purposes of the filing of the Registration Statement and the issuance and/or grant of the Plan Shares by the Company. It may not be used, circulated, quoted, referred to or relied upon for any other purpose without our written consent in each instance. We hereby consent to filing of this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the U.S. Securities Act of 1933, as amended.

This Opinion is issued by and signed on behalf of Arendt & Medernach SA, admitted to practice in the Grand-Duchy of Luxembourg and registered on the list V of lawyers of the Luxembourg Bar.

------

Yours faithfully,

By and on behalf of Arendt & Medernach SA

/s/ Guy Harles

Partner

------

#### APPENDIX A – DOCUMENTS

1. A copy of the updated articles of association of the Company as at 11 November 2025 (the "**Restated Articles of Association**").

2. A scanned copy of the signed minutes of the meeting of the board of directors of the Company held on 10 February 2026 that, among others, approved the filing of the Registration Statement (the "**Resolutions**").

3. A copy of the Terms and Conditions Governing Employee Stock Options 2026/2031 in the Company and to be filed as exhibit 99.1 to the Registration Statement (the "**2026 ESOP**").

4. A copy of the Terms and Conditions Governing Employee Restricted Stock Units 2026/2031 in the Company and to be filed as exhibit 99.2 to the Registration Statement (the "**2026 Employee RSU Plan**" and together with the 2026 ESOP, the "**Employee Equity Incentive Plans**").

5. A copy of the Terms and Conditions Governing Consultant Stock Options 2026/2031 in the Company and to be filed as exhibit 99.3 to the Registration Statement (the "**2026 CSOP**").

6. A copy of the Terms and Conditions Governing Consultant Restricted Stock Units 2026/2031 in the Company and to be filed as exhibit 99.4 to the Registration Statement (the "**2026 Consultant RSU Plan**" and together with the 2026 CSOP, the "**Consultant Equity Incentive Plans**"; the Employee Equity Incentive Plans and the Consultant Equity Incentive Plans are referred together as the "**Incentive Plans**").

7. A copy of the certificate of non-registration of a judicial decision or administrative dissolution without liquidation (*certificat de non-inscription d'une décision judiciaire ou de dissolution administrative sans liquidation*) in relation to the Company dated 10 February 2026 and issued in electronic form by the *Registre de l'Insolvabilité de Luxembourg* maintained by and available on the website of the Luxembourg Trade and Companies Register.

<br> 8. An excerpt dated 10 February 2026 in respect of the Company issued by the Luxembourg Trade and Companies Register.

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## Exhibit 23.2

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Exhibit 23.2

#### Consent of Independent Registered Public Accounting Firm
We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the Terms and Conditions Governing Employee Stock Options 2026/2031 in Spotify Technology S.A., the Terms and Conditions Governing Employee Restricted Stock Units 2026/2031 in Spotify Technology S.A., the Terms and Conditions Governing Consultant Stock Options 2026/2031 in Spotify Technology S.A., and the Terms and Conditions Governing Consultant Restricted Stock Units 2026/2031 in Spotify Technology S.A. of our reports dated February 10, 2026, with respect to the consolidated financial statements of Spotify Technology S.A. and the effectiveness of internal control over financial reporting of Spotify Technology S.A. included in its Annual Report (Form 20-F) for the year ended December 31, 2025, filed with the Securities and Exchange Commission.

/s/ Ernst & Young AB

Stockholm, Sweden

February 10, 2026

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## Ex-Filing

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#### Exhibit 107

#### CALCULATION OF FILING FEES TABLE

#### FORM S-8

#### (Form Type)

#### Spotify Technology S.A.
(Exact name of registrant as specified in its charter)

<u>Table 1: Newly Registered Securities</u>

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Type | Security<br> Class<br> Title | Fee<br> Calculation<br> Rule | Amount<br> Registered(1) | Proposed<br> Maximum<br> Offering<br> Price Per<br> Share(2) | Maximum<br> Aggregate<br> Offering<br> Price | Fee<br> Rate | Amount of<br> Registration<br> Fee |
| Equity | Ordinary Shares (par value of €0.000625 per share) | Other  | 20620000 | $417.37 | $8606169400.00 | 0.00013810  | $1188511.99 |
| Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  | $8606169400.00<br>|  | $1188511.99 |
| Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  |  |  | $0.00 |
| Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  | $1188511.99 |

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&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional Ordinary Shares, nominal value of €0.000625 per share ("Ordinary Shares"), of Spotify Technology S.A. (the "Company") that become issuable under the Terms and Conditions Governing Employee Stock Options 2026/2031 in the Company along with the appendices thereto (the "2026 ESOP"), the Terms and Conditions Governing Employee Restricted Stock Units 2026/2031 in the Company along with the appendices thereto (the "2026 Employee RSU Plan"), the Terms and Conditions Governing Consultant Stock Options 2026/2031 in the Company along with the appendices thereto (the "2026 CSOP") and the Terms and Conditions Governing Consultant Restricted Stock Units 2026/2031 in the Company along with the appendices thereto (the "2026 Consultant RSU Plan") by reason of any share dividend, share split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding Ordinary Shares. The 2026 ESOP and the 2026 Employee RSU Plan collectively authorize the issuance of up to a maximum of 20,000,000 Ordinary Shares. Ordinary Shares available for grant or sale under each of the 2026 ESOP and the 2026 Employee RSU Plan will be reduced by the net Ordinary Shares granted under any such plan. The 2026 CSOP and the 2026 Consultant RSU Plan collectively authorize the issuance of up to a maximum of 620,000 Ordinary Shares. Ordinary Shares available for grant or sale under each of the 2026 CSOP and the 2026 Consultant RSU Plan will be reduced by the net Ordinary Shares granted under any such plan.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Estimated in accordance with Rules 457(c) and 457(h) of the Securities Act, solely for the purpose of calculating the registration fee, based on
 the average of the high and low sale prices per Ordinary Share as reported on the New York Stock Exchange on February 6, 2026.

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