#1appfolio Welcome AppFolio Investor Meeting October 12, 2022 171#2Agenda AppFolio Vision & Strategy Customer-Centric Innovation: The Key to our Future One Powerful Platform: The Key to Differentiation 15 min break Partnering to Win: AppFolio Customer Panel Financial Overview Q&A Jason Randall Shane Trigg Will Moxley Shane Trigg Fay Sien Goon President & CEO General Manager, Real Estate Sr. Vice President, Product General Manager, Real Estate CFO appfolio#3Safe Harbor Statement and Other Information This presentation contains forward-looking statements within the meaning of federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements made in this presentation are based primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, operating results, and prospects. In some cases, you can identify forward-looking statements by the use of words such as "may,” “will,” “should,” “might,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target," "project," "contemplate," "believe," "estimate," "predict," "potential," or "continue," or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Examples of forward-looking statements include, among others, statements made regarding future research and product development plans, future market conditions and size, growth in the size of our business and number of customers, strategic plans and objectives, business forecasts and plans, our future or assumed financial condition, results of operations and liquidity, trends affecting our business and industry, the competitive environment, responding to customer needs, and capital resource allocation plans. Further information on the above and other risks that could cause our actual results to differ materially from our current expectations and projections can be found in our Annual Report on Form 10-K filed for the year ended December 31, 2021 and in our other Securities and Exchange Commission ("SEC") filings, including our most recent Quarterly Report on Form 10-Q, which are available on our website at https://ir.appfolioinc.com/ or the SEC's website at www.sec.gov.We cannot guarantee that we will achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Forward-looking statements represent our management's beliefs and assumptions only as of the date of this presentation. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments we may make. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current financial quarter. The information in this presentation on new products, features, or functionality is intended solely to outline our general product direction. It is not a commitment to deliver any product, feature, or functionality; and our product direction may change at any time without notice. As such, the information may not be incorporated into any contract and purchases should not be contingent upon it. Numbers in this presentation may be rounded for presentation purposes. appfolio#4AppFolio Vision & Strategy 1 Jason Randall President & CEO 2022 © AppFolio, Inc. 300#52 Our Mission Our mission is to revolutionize vertical industry businesses by providing great software and services. 2022 © AppFolio, Inc. appfolio#63 Consistent Resilient Growth 2022 © AppFolio, Inc. Real Estate Revenue $65M 2020 CAGR 30% $117M Q2 2022 appfolio#74 Consistent Growth 2022 © AppFolio, Inc. Land Expand Grow Retain Scale appfolio#8AppFolio Through the Years: Growth & Innovation AppFolio, Inc. Opens its Doors 5 2006 2008 AppFolio Property Manager Launches First Value Added Service 2009 Customer Websites 2022 © AppFolio, Inc. 2010 Payments 2011 ........ Screening Insurance 2012 …………………………. 20 2015 IPO +1b $14.81-281 Oppfolio APPF AppFolio Property Manager Plus 2018 2020 #1 on Fortune's Fastest Growing Companies List 100 FORTUNE glassdoor BEST PLACES TO WORK Surpassed $100M Qtrly Revenue Q1 2022 FASTESTI GROWING COMPANIES 20201 2122 >1M Units Added Y/Y Launch of AppFolio Stack™ Q2 2022 appfolio#96 Substantial Market for AppFolio Products 2022 Unit TAM Residential Units Primary Source: Rental Housing Finance Survey (RHFS) 2018* Community Associations Units: Community Associations Institute 2021* *AppFolio estimate as of Q2 2022 2022 © AppFolio, Inc. 51M Residential Units 28M Community Associations Units Adjacent Markets Investment Management Short Term Rentals appfolio#107 Landing New Customers 2022 © AppFolio, Inc. AppFolio Property Manager Customers 14,729 1 Q1 2020 CAGR +9% 17,878 Q2 2022 appfolio#11Experienced Leadership 8 2022 © AppFolio, Inc. Jason Randall President and Chief Executive Officer Jon Walker Co-Founder & Chief Technology Officer Amy Meyer Chief People Officer Fay Sien Goon Chief Financial Officer Matt Mazza Chief Legal Officer Shane Trigg General Manager, Real Estate Jay Choi Chief Strategy Officer and General Manager, Growth appfolio#129 Our Values Guide our Business Simpler is better Great, innovative products are key to a great business Great people make a great company Listening to customers is in our DNA Small, focused teams keep us agile We do the right thing; It's good for business 2022 © AppFolio, Inc. Ə FO glassdoor BEST PLACES TO WORK 2122 WE DO THE RIGHT THING, IT'S GOOD FOR BUSINESS LISTENING TO CUSTOMERS IS IN OUR DNA REAT PE AKE A G COMP SMALL, FOCI TEAMS KEEP appfolio#13Strategy for Long Term Growth 1.0 Keep Existing Customers Happy 2022 © AppFolio, Inc. Acquire New Customers Expand Adoption & Use by Existing Customers Enter & Expand New Adjacent Markets Operational Excellence appfolio#14Customer-Centric Innovation: The Key to our Future 11 Shane Trigg General Manager, Real Estate 2022 © AppFolio, Inc. NEST DC nest-#1512 51M Residential Unit TAM Primary Source: Rental Housing Finance Survey (RHFS) 2018* *AppFolio estimate as of Q2 2022 Total TAM rounded to the nearest million. 2022 © AppFolio, Inc. Mobile Homes Student Housing Multifamily Residential Senior Housing Affordable Housing Single-family Residential Adjacent Market Short Term Rentals appfolio#16Our Opportunity 13 2022 © AppFolio, Inc. Land Customers, units Expand Unit expansion Grow ARPU through APM Plus, Value Added Services, product innovation Retain Product innovation, ease of use, exceptional service, customer experience Scale AppFolio Stack™, prop tech ecosystem appfolio#17Our Customers 14 2022 © AppFolio, Inc. Investors & Owners Property Managers Residents appfolio#1815 A Balanced Portfolio AppFolio is positioned to build upon its SMB leadership as it further penetrates the market 2022 © AppFolio, Inc. SEGMENT SMB Mid-Market Corporate Associations SIZE DEFINITION 50-499 units 500-1,499 units 1.5K+ units 50 - 20K units appfolio#1916 Repeatable Process for Success 2022 © AppFolio, Inc. ↑↓ Disciplined market validation process APPFOLIO TECHNOLOGY PLATFORM System of Record APM Core & APM Plus System of Engagement Value Added Services Customer feedback loop System of Intelligence Customer Service appfolio#20The Challenges We Solve Source: AppFolio Property Manager Top Challenges Research, 2022 17 2022 © AppFolio, Inc. Property Manager Top Challenges 01 Operational Efficiency 02 03 Maximizing Revenue & Profits HR, Staffing & Recruitment appfolio#2118 Focus Areas 44 Property Type Expansion 2022 © AppFolio, Inc. Customer Experience Product Innovation ............... Differentiate са Lowe's Partnerships & Integrations appfolio#2219 Focus Areas Property Type Expansion 2022 © AppFolio, Inc. • Accelerating the pace at which we grow net new units on our platform across our market segments Adding new capabilities that improve our ability to win upmarket • Investing in new property types appfolio#2320 Focus Areas 2022 © AppFolio, Inc. Customer Experience Creating a product- driven, effortless service experience • Enabling our customers to gain value fast, adopt more of our workflows and achieve their business goals appfolio#2421 Focus Areas • Multiplying our approach to innovation in solving new customer problems • Creating new revenue streams 2022 © AppFolio, Inc. Product Innovation 123 Manchester Blvd #6 1:00 pm Join Showing ID Lease Agreement Resident Signature Date Rental Application 123 Manchester Blvd # Submit Application appfolio#2522 Focus Areas Continuing innovation in data, mobile, and Al 2022 © AppFolio, Inc. Differentiate k Lisa Hi, sorry I missed your call. We have a vacancy right now at 931 Fenton St. Do you want to come for an appointment tomorrow at 10am? Or Fri June 28 at 1pm. I can't tomorrow. What about Tuesday at 5:30pm? We can do Tue July 2 at 5:30pm. May I please have your name for the schedule? Sounds great! Alexis Smith. Do you allow pets? Yes, Cats and dogs are allowed. We have a fully refundable $350 pet deposit & pet rent is $25 a month per pet. appfolio#2623 Focus Areas 20 7 a Lowe's 2022 © AppFolio, Inc. Giving larger, upmarket customers greater ability to manage complex portfolios, and run their entire business from a centralized hub Partnerships & Integrations appfolio#2724 Our Strategy 2022 © AppFolio, Inc. Win Upmarket Continue SMB Leadership Grow Value Added Services appfolio#2825 Value Added Services Growth Expansion of Value Added Services: Grows revenue per unit • Increases customer retention 2022 © AppFolio, Inc. Unit 217 Your current balance is $1,250 Pay Now Setup Autopay Renters Insurance Purchase Learn More appfolio#2926 Creating Value for our Customers Chris Force, CPA, MBA Director of Accounting and Business Operations Alexander Forrest Investments, LLC AFI "We are big fans of AppFolio and Al Leasing Assistant, Lisa in particular as it has provided value to our property owners and allows AFI to be much more cost effective and efficient. We recently upgraded to AppFolio Property Manager Plus and we are excited about improving our service offering to our stakeholders and improving the scalability of our business model." 2022 © AppFolio, Inc. ARPU Growth Value Added Services APM Plus APM Core appfolio#30AppFolio is Poised to Win 27 Search Volume by Brand Source: trends.google.com 2022 © AppFolio, Inc. 2019 AppFolio 2020 Yardi 2021 05-2022 Real Page Buildium 06-2022 07-2022 08-2022 Entrata 09-2022 10-09-2022 appfolio#3128 Strategy for an Efficient Go-to-Market Market Segments Sales Execution Time to Value Partner Strategy Subscription Renewals Marketing Approach 2022 © AppFolio, Inc. Evaluation, win and switching capture rates Bookings attainment and wallet share Attach rates, Value Added Services, frictionless experience Leverage partners to extend capabilities High retention and low acquisition cost Focus on digital and voice of customer to yield efficient pipeline appfolio#32One Powerful Platform: The Key to Differentiation 29 Will Moxley Sr. Vice President, Product 2022 © AppFolio, Inc. 1244 TOWSON 115#33Addressing Our Customers' Challenges Source: AppFolio Property Manager Top Challenges Research, 2022 30 2022 © AppFolio, Inc. Property Manager Top Challenges 01 02 03 Operational Efficiency Maximizing Revenue & Profits HR, Staffing & Recruitment appfolio#34Product Vision Create a world where choosing, living in, owning, and managing communities feels magical and effortless, freeing people to thrive. 31 2022 © AppFolio, Inc. Investors & Owners Property Managers Residents appfolio#3532 Why Does That Matter? Payroll is the #2 expense For residential property managers, just after taxes. Source: Institute for Real Estate Management Income Expense/IQ Report 2022 © AppFolio, Inc. ON ON O appfolio#3633 Staff spend almost two days per week "turning the crank" Source: AppFolio Property Manager March 2022 Property Management Employee Experience Survey 2022 © AppFolio, Inc. 40% Of time property management staff reportedly spend on "busywork" according to a survey by AppFolio appfolio#3734 Magical & Effortless 2022 © AppFolio, Inc. H Ə appfolio#38An Integrated Platform 35 Value Added Services Application Layer Platform Layer Payments 2022 © AppFolio, Inc. Residents Leasing Screening Property Managers Tooling for Rapid Innovation | Constant Updates Maintenance Insurance Vendors Support for: Single-family Residential | Multifamily Residential | Community Associations | Affordable Housing | Short Term Rentals $Accounting Al Factory for Automation | Recommendations Smart Maintenance Common Components for a Better Experience: Portals & Mobile | Communication | Documents | Reporting | Search | Workflows | Identity Cloud Operations for Reliability | Performance | Security Investors/Owners & many more AppFolio Stack™ for Easy Extensibility appfolio#3936 Innovation Over the Years AppFolio Property Manager PLUS Al Leasing Assistant, Lisa AppFolio Investment Management LIHTC (Low Income Housing Tax Credit) 2019 2022 © AppFolio, Inc. Virtual Showings 3D Virtual Tours Automated Accounts Payable Income Verification Leasing Metrics Dashboard Intercompany Transactions Mailing Service (CA) CheckAlt (CA) 2020 Smart Maintenance Unit Turn Board Rental History Verification Procurement Project Budgeting Loan Tracking LLI Smart Enrollment Calendar (CA) Cost Centers (CA) Multiple Fund Accounting (CA) 2021 ✔ AppFolio Stack™ FolioGuard Security Deposit Alternative Mobile Inspections Report Builder Bank Feed PDF Leases Project Budgeting Cost Centers Security Deposit Return via eCheck Flexible Screening Home Sale Docs integration (CA) Bank Transfers (CA) 2022 appfolio#4037 Three Major Themes of Innovation 2022 © AppFolio, Inc. 01 Expanding Upmarket 02 Al Differentiation 03 Customer Experience appfolio#4138 01 Expanding Upmarket 02 Al Differentiation 03 Customer Experience 2022 © AppFolio, Inc. appfolio#4239 In Development AppFolio StayManager™ Source: AirDNA, The 2022 Vacation Rental Outlook Report 2022 © AppFolio, Inc. Wednesday 10:04 PM Congrats! Your stay has been confirmed. Friday 9:00 AM Pack your bags, Travis! Your trip to 14 Mountain Dr. is coming up. Saturday 18:27 PM Hi! We just arrived and the check-in went smooth. Thank you! +35% increase in the industry average annual revenue per short-term rental last year#43In Development A Single Platform to Efficiently Manage Affordable Housing & Stay Compliant 40 2022 © AppFolio, Inc. Tenant Ledger Add Tenant Subsidy Receipts Print а Subsidy Programs Add Caseworker Subsidized General Ledger Run Report appfolio#44New AppFolio Stack™ 41 2022 © AppFolio, Inc. AppFolio Stack™ Marketplace Connected Partners HAPPYS LOWE'S knock. HappyCo Lowe's Knock Available Partners ButterflyMX ButterflyMX Premium Premium Premium Manage Connection ✔ appfolio#45New AppFolio Stack™ Partners appfolio.com/stack 42 2022 © AppFolio, Inc. Maintenance PROPERTYMELD LOWE'S zInspector HAPPYS Utility Management CONSERVICE Marketing & Leasing SHOWMOJO LeadSimple opinion We Speak Resident knock. PetScreening 30 30 Lines IoT & Smart Properties ButterflyMX SmartRent Homebase Compliance H HomeWise CondoCerts appfolio#46Centralization & Automation 43 2022 © AppFolio, Inc. Loan Tracking Original amount Interest Rate Interest Rate Calculation $6,550,000 6.75% 30/360 View Payment Schedule Cost Centers 101 100 Clubhouse Townhomes Enable Bennet Grand Woods Bennet Grand Woods Watter Automated Corporate Charges Cost Center for Management Fees Cost Center for Lease Fees Cost Center for Markups & Discounts +101 Accounting Bulk Assign Cost Centers appfolio#4744 Product Improvement Report Builder 2022 © AppFolio, Inc. Reporting Report Library Accounting Reports COD Accounts Totals Balance Sheet Leasing Reports Property and Unit Reports Cash Flow Report Builder appfolio#4845 01 Expanding Upmarket 02 Al Differentiation 03 Customer Experience 2022 © AppFolio, Inc. appfolio#49AI Al Magic 46 2022 © AppFolio, Inc. k Lisa Hi, sorry I missed your call. We have a vacancy right now at 931 Fenton St. Do you want to come for an appointment tomorrow at 10am? Or Fri June 28 at 1pm. I can't tomorrow. What about Tuesday at 5:30pm? We can do Tue July 2 at 5:30pm. May I please have your name for the schedule? Sounds great! Alexis Smith. Do you allow pets? Yes, Cats and dogs are allowed. We have a fully refundable $350 pet deposit & pet rent is $25 a month per pet. ||| O AppFolio Chat Thanks for reaching out. Can you please confirm your first and last name? Dusty James H: My air conditioner is not working. Please help! 50 Smith St. Santa Barbara, CA 93101 || Is it blowing warm air or no air at all? Smart Bill Entry Can you please confirm your full address/Aunit number as well? It's blowing warm air New Bill Payee Extracting George's Plumbing 10/02/22 ve & Review Next appfolio#50New Bank Feed 47 2022 © AppFolio, Inc. Bank Feed Rockland Bluffs Bank Account Rockland Operating - $160,024.56 Bank Transactions Date 7/15/2022 7/13/2022 7/13/2022 Description Gardening Lawn care Rent Amount -$800 -$1,500 -$2,500 AppFolio Records Date 7/15/2022 7/13/2022 7/13/2022 Check 106 126 123 Description Add record Home Depot Home Depot Gas Match Amount -$800 > -$600 > d -$700 appfolio