#1bill BILL (NYSE: BILL) Investor Deck November 2023#2Safe harbor This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are statements other than statements of historical facts, and statements in the future tense. Forward-looking statements are based on our expectations as of the date of this presentation and are subject to a number of risks, uncertainties and assumptions, many of which involve factors or circumstances that are beyond our control. These statements include, but are not limited to, statements regarding our expectations for future performance including guidance for our total revenue, non-GAAP net income, and non-GAAP net income per share for the fiscal first quarter ending September 30, 2023 and full fiscal year ending June 30, 2024, our expectations for the growth of demand on our platform and the expansion of our customers' utilization of our products. These risks and uncertainties include, but are not limited to macroeconomic factors, including changes in interest rates, inflation and volatile market environments, as well as fluctuations in foreign exchange rates, our history of operating losses, our recent rapid growth, the large sums of customer funds that we transfer daily, the risk of loss, errors and fraudulent activity, credit risk related to our BILL Divvy Corporate Cards, our ability to attract new customers and convert trial customers into paying customers, our ability to develop new products and services, increased competition or new entrants in the marketplace, potential impacts of acquisitions and investments, including our ability to integrate acquired businesses, incorporate their technology effectively and implement appropriate internal controls at such businesses our relationships with accounting firms and financial institutions, and the global impacts of the conflicts in Ukraine and in Israel, and other risks detailed in the registration statements and periodic reports we file with the Securities and Exchange Commission (SEC), including our quarterly and annual reports, which may be obtained on the Investor Relations section of our website (https://investor.bill.com/financials/sec-filings/default.aspx) and on the SEC website at www.sec.gov. You should not rely on these forward-looking statements, as actual results may differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this presentation are based on information available to us as of the date hereof. We assume no obligation to update or revise the forward-looking statements contained in this presentation because of new information, future events or otherwise. In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this presentation contains non-GAAP financial measures, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income (loss) from operations, and non-GAAP net income (loss). The non-GAAP financial information is presented for supplemental informational purposes only and is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. We believe that these non-GAAP financial measures provide useful information about our financial performance, enhance the overall understanding of our past performance and future prospects and allow for greater transparency with respect to important metrics used by our management for financial and operational decision-making. We believe that these measures provide an additional tool for investors to use in comparing our core financial performance over multiple periods with other companies in our industry; however, it is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies in the same industry. Please see the reconciliation tables in the Appendix for a reconciliation of GAAP and non-GAAP measures. 2#3Who we are: Champions of small and midsize businesses. bill - 177 88 Mad Many GOOD DOCHE 0011 NEWTON 100 and B on Our mission: Make it simple to connect and do business. anda 3#4The Essential Financial Operations Platform. b Digital on-ramp to replace legacy paper-based processes Automate financial operations Make and receive payments Manage budgets and cash flow Gain insight, visibility, and control $ Accounts Payable L Spend Management b Payments $ Accounts Receivable 4#5BILL at a glance Total Revenue ($ Millions) 65% $1,058 $642 FY22 FY23 33% $230 Q1¹23 $305 Q1¹24 470K+ Businesses using our solutions¹ 111% Net dollar retention rate³ 5.8M Network members² (Suppliers & Clients) 86% Gross margin (Non-GAAP)4 ¹ As of September 30, 2023. Includes BILL standalone customers, BILL Spend and Expense (S&E, formerly known as Divvy) spending businesses, and Invoice2go subscribers. Businesses using more than one of our solutions are included separately for each solution utilized. 2 As of June 30, 2023, approximately 5.8 million network members have paid or received funds electronically using our platform. We define network members as our BILL standalone customers plus their suppliers and clients. 3 As of June 30,2023. Net dollar retention rate is calculated by dividing total current period revenue by total prior period revenue. Does not include impact from BILL S&E or Invoice2go. 5 4 As of September 30, 2023. See appendix for reconciliation.#6All SMBs have a need for back-office efficiency Б Disparate systems Antiquated paper-based processes. Spending hours manually processing bill payments and chasing down approvals and receipts. TOT Lack of visibility Lack of visibility into cash flow and real time financial status, making informed decisions difficult. Siloed workflows Inability to scale financial operations without growing finance team, which can be time and cost-intensive 4511 6#7Our opportunity to create value in the SMB segment is significant U.S. Opportunity Global Opportunity Number of SMBs and Sole Proprietors 34M¹ SMB Software Spend 2 $75B² B2B Payment Volume $28T³ 70M+* $344B5 $125T ¹ Nonemployer Statistics, 2019 (Census); Statistics of US Businesses, 2020 (Census). 2 McKinsey: Winning the SMB tech market in a challenging economy: 2021 SMB tech spending, 2023. 3 eMarketer: US B2B Payment Transaction Value, 2022 estimates, July 2021. 4 Nonemployer Statistics, 2019 (Census); Statistics of US Businesses, 2020 (Census); Government of Canada Key Small Business Statistics, 2021; Eurostat, 2021; Australian Bureau of Statistics, 2022; New Zealand Ministry of Business, Innovation, and Employment, 2022; UK Office for National Statistics, 2022. (Figure includes SMEs in US, CAN, EU, AUS, NZ, and the UK only). 5 Gartner Market Statistics Forecast: IT Spending by Employment Size: 2021-2027, Q1 2023. Includes Software and IT Services spend. 6 Allied Market Research: B2B Payments Market. Global Opportunity Analysis and Industry Forecast, 2021-2031, 2021 stat. b 6 7#8We digitally transform back-office operations with intelligent workflow b ACCOUNTS RECEIVABLE Engage Invoice Get paid Reconcile K bill NETWORK K Reconcile E$ S Pay Approve Receive SPEND MANAGEMENT ACCOUNTS PAYABLE 8#9Integrated Financial Operations Platform Accounts Payable Accounts Receivable Spend & Expense Financial Planning & Analysis Tools bill Divvy Card =+ bill Actions Get Started Overview Inbox Documents PAYABLES Vendors Approvals Bills Purchase G Payments out RECEIVABLES orders P8 Customers VISA Business 9 al Paym Q Search Customize Overview Bills to pay 9:41 Overdue $3,091 Wallet Q Search... Invite team members bill Active budget $1,400.00 Marketing team Travel Marketing team Company Lunches Marketing team B Toma Due in 7 days: $48,527 + C ⠀ > $1,400.00 + Virtual card Create a virtual card with a unique card number.. $800.00 Download mobile app Due in 7+ days: $195,776 39 Bills 6-10 Days 3 $5,018 3 $2,654 3 $7,064 2 About Us 10+ Days Assigned to Me 3 $100,000 0 0 0 11 $24,699 $100,000 Pay Total to pay: $247,394 117 Bills V Terms of Service Total 9 $145,037 6 $8,654 3 $7,064 5 23 $356.800 Privacy Notice Ⓒ2023 Bill.com, LLC Open invoices Overdue $15,562 5 Invoices Payments in O Today (1) Upcoming Next 7 days (9) Next 30 days (0) Previous Last 7 days (2) B Rosenthal Pied Piper Last 30 days (7) Licenses Due in 7 days: $39,701 9 Invoices Security Center Get Paid $1,809 $3,448 $0 $2,037 °C TO-DOS $46.019 Due in 7+ days: $101,324 23 Invoices Today (1) 3 RECENT Upcoming Next 7 days (9) Payments out Ⓒ Previous Next 30 days (0) Create Invoice Last 7 days (2) O Last 30 days (7) Totalowed: $156,587 47 Invoices Ú $600 $3,448 $0 $2,037 $46,019 Ⓒ 9#10b We empower SMBs with More time for their mission. More time for customers. Less paper. More control. 383002 Stanford Plumbing & Heating Sepe Overvie 24.447.88 $1,000.00 Pellery SAY 51.000.47 www $84.291.95 U Com 10#11We partner with SMBs' most trusted financial partners. Our partners use our platform to better serve their clients. ACCOUNTING FIRMS 7,000+ Decimal M MOSSADAMS #ACUITY AMERICAN EXPRESS CliftonLarsonAllen As of June 30, 2023. FINANCIAL INSTITUTIONS 7 of the top 10 Fls for SMBs in the U.S. WELLS FARGO JPMORGAN CHASE & CO. bakertilly KeyBank PNC BANK OF AMERICA 11#12Our target segments b MARKET SEGMENT Enterprise Mid-Market SMB Micro Businesses b CURRENT TOOLS ERP, Point Solutions Point Solutions, Paper Excel, Paper Excel, Paper 12#13Why we win Platform • Purpose-built financial operations platform . Proprietary money movement rails & infrastructure • Proprietary risk. management and compliance Ecosystem • Efficient go-to-market: self-serve, direct to SMBs, strategic partnerships with accounting firms and financial institutions • Proprietary network for customers and suppliers Scale 470,000+ SMBs 5.8 million network members¹ • $280+ billion annualized run rate total payment volume² Large and growing data asset ¹ As of June 30, 2023. Approximately 5.8 million network members have paid or received funds electronically using our platform. We define network members as our BILL standalone customers plus their suppliers and clients. 2 As of September 30, 2023. The total payment volume transacted by BILL customers was approximately $65.8 billion; the total card payment volume transacted by spending businesses that used BILL Divvy cards was approximately $4.0 billion; the total payment volume transacted by Invoice2go subscribers was approximately $0.3 billion. An annualized rate was calculated by multiplying the most recent quarter by four. 13#14Expanding network effects b Data Transactions Adoption, Engagement, and Stickiness 5.8M¹ Network Members and Growing Suppliers and Buyers Products & Capabilities SMBs 1 As of June 30, 2023, approximately 5.8 million network members have paid or received funds electronically using our platform. We define network members as our BILL standalone customers plus their suppliers and clients. 14#15Multiple growth drivers Acquiring new customers Б Increasing adoption by our existing customers ↑ Growing the number of network members Developing our platform capabilities Expanding internationally B 15#16bill Financial Overview 22 0#17Our financial profile $1,134M Trailing 12mos Revenue¹ Scale 87% of Core Revenue 3,5,6 From Existing Customers 24% Core revenue y/y growth²,3 Growth 111% Dollar-based net retention rate7 Land and Expand 86% Non-GAAP gross margin²,4 Attractive Margin Profile 5 Quarters Payback period Efficient Business Model ¹ Total revenue for the 12 months ended September 30, 2023. 2 For the Fiscal Quarter ended September 30, 2023. ³ Core revenue defined as revenue derived from subscription and transaction fees. 4 Non-GAAP gross margin is a non-GAAP metric. See Appendix for reconciliation to GAAP. 5 Statistics for the fiscal year ended June 30, 2023. 6 Core revenue from BILL customers who were acquired prior to the start of the fiscal year 2023. 7 Data for LTM ended June 30, 2023. Calculated by dividing total current period revenue by total prior period revenue. Excludes impact from BILL S&E and Invoice2go. 8 Data for customers acquired during FY2022. Defined as the number of quarters it takes for the cumulative non-GAAP gross profit earned from BILL standalone customers acquired during a given quarter to exceed total sales and marketing spend in that same quarter, excluding customers acquired through financial institutions and the related sales and marketing spend. 17#18Our business model Subscription Revenue Per user pricing to use our platform Fixed monthly or annual rate Price plans depend on feature and functionality 20% CORE % of Q1'24 Revenue * Does not add to total due to rounding. Transaction Revenue Usage-based transactional fees and interchange income Charged on either fixed or variable basis 66% % of Q1'24 Revenue FLOAT Float Revenue Interest we earn from customer funds while payment transactions are clearing Derived from payment volume, transit times, and interest rates 13% % of Q1'24 Revenue 18#19Strong revenue growth $642 65% $1,058 FY22 Б TOTAL REVENUE FY23 $230 Q1¹23 33% $305 Q1¹24 $633 FY¹22 $9 FY¹22 49% CORE REVENUE $945 FY¹23 $114 $215 FLOAT REVENUE FY¹23 Q1'23 $15 Q1'23 24% $265 Q1'24 $40 Q1¹24 19#20Growing adoption & usage Businesses using our solutions¹ (in thousands) 420 Q1'23 12% 471 Q1'24 Transactions processed² (in millions) 20 Q1'23 26% 25 Q1'24 Total payment volume³ ($ in billions) $65 Q1'23 8% $70 Q1¹24 ¹ The total number of BILL standalone customers was approximately 209,300; the total number of spending businesses that used BILL S&E solution (formerly known as Divvy) was approximately 30,700; and the total number of Invoice2go subscribers was approximately 231,200. Businesses using more than one of our solutions are included separately in the total for each solution utilized. Б 2 The total transactions executed by BILL standalone customers was approximately 11.6 million; the total transactions executed by spending businesses that used BILL Divvy Corporate Cards were approximately 12.8 million; the total transactions executed by Invoice2go subscribers were approximately 0.3 million. 3 The total payment volume transacted by BILL standalone customers was approximately $65.8 billion; the total card payment volume transacted by spending businesses that used BILL Divvy Corporate Cards was approximately $4.0 billion; the total payment volume transacted by Invoice2go subscribers was approximately $0.3 billion. 20#21Consistent growth & execution b $35 Q1'20 Note: FY ends June 30. Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Total revenue ($ in millions) 72% CAGR 11 Q4'21 Q3'21 $305 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 21#22Appendix b 22#23Supplemental Information. Amounts in Millions TOTAL AND CORE REVENUE Subscription Fees Transaction Fees Core Revenue Float Revenue Total Revenue Small-to-midsize business, accounting firms, spending business and other Financial institution customers Core Revenue * Does not add to total due to rounding. Q1'23 $58.1 156.5 214.6 15.3 $229.9 $204.8 9.8 $214.6 Q2¹23 $61.5 169.6 231.1 28.9 $260.0 $220.4 10.7 $231.1 Q3'23 $66.7 172.8 239.5 33.1 $272.6 $227.6 11.9 $239.5 Q4'23 $66.9 192.6 259.5 36.5 $296.0 $248.8 10.7 $259.5 Q1'24 $62.4 202.7 265.1 39.8 $305.0 $260.2 4.9 $265.1 23#24Supplemental Information. Amounts in Millions SUBSCRIPTION AND TRANSACTION REVENUE BILL Standalone Platform Invoice2go Accounts Receivable Solution Other Subscription Fees BILL Standalone Platform Divvy Spend Management Solution Invoice2go Accounts Receivable Solution Transaction Fees * Does not add to total due to rounding. Q1'23 $49.3 8.6 0.2 $58.1 $76.3 78.0 2.2 $156.5 Q2'23 $52.7 8.6 0.3 $61.5 $80.4 86.6 2.6 $169.6 Q3'23 $57.6 8.9 0.2 $66.7 $83.2 88.6 1.0 $172.8 Q4'23 $57.8 8.9 0.2 $66.9 $91.5 99.9 1.1 $192.6 Q1'24 $52.9 9.3 0.2 $62.4 $95.4 106.1 1.3 $202.7 24#25Supplemental Information. Number (rounded to the nearest 100) BUSINESSES ON PLATFORM BILL Standalone Customers Divvy Spending Businesses Invoice2go Subscribers Businesses on Platform BILL Standalone Customers excluding Financial Institutions Customers Financial Institutions Customers BILL Standalone Customers* Q1'23 172,000 22,800 225,100 419,800 126,900 45,100 172,000 Q2¹23 182,700 24,700 228,500 435,800 130,400 52,300 182,700 *BILL Standalone Customer count include ~12,000 Intuit Simple Bill Pay customers in Q4'23 and ~11,000 in Q1'24. ** Does not add to total due to rounding. Q3'23 197,900 27,100 230,300 455,300 134,100 63,700 197,900 Q4'23 201,000 29,200 230,800 461,000 139,400 61,600 201,000 Q1'24 209,300 30,700 231,200 471,200 143,100 66,200 209,300 25#26Supplemental Information. Amounts in Billions TOTAL PAYMENT VOLUME BILL Standalone Total Payment Volume Divvy Total Card Payment Volume Invoice2go Total Payment Volume Total Payment Volume BILL Standalone Total Payment Volume excluding Financial Institutions Customers Payment Volume from Financial Institutions Customers BILL Standalone Total Payment Volume * Does not add to total due to rounding. Q1'23 $61.6 3.0 0.3 $64.9 $55.7 5.9 $61.6 Q2¹23 $63.7 3.3 0.3 $67.3 $57.5 6.2 $63.7 Q3'23 $61.0 3.4 0.3 $64.7 $55.0 6.1 $61.0 Q4'23 $65.1 3.8 0.3 $69.1 $59.7 5.4 $65.1 Q1'24 $65.8 4.0 0.3 $70.2 $60.5 5.3 $65.8 26#27Supplemental Information Amounts in Millions TRANSACTIONS BILL Standalone Transactions Divvy Transactions Invoice2go Transactions Total Transactions BILL Standalone Transactions excluding Financial Institutions Customers Transactions from Financial Institutions Customers BILL Standalone Transactions * Does not add to total due to rounding. Q1'23 10.8 8.5 0.3 19.6 9.9 0.9 10.8 Q2'23 11.0 9.4 0.3 20.8 10.0 1.0 11.0 Q3'23 10.9 10.2 0.3 21.4 9.9 1.0 10.9 Q4'23 11.6 11.4 0.3 23.4 10.6 1.0 11.6 Q1'24 11.6 12.8 0.3 24.8 10.6 1.0 11.6 27#28GAAP to Non-GAAP Reconciliation Gross Profit Amounts in Millions GAAP Gross Profit (+) Stock-based compensation and related Payroll Taxes (+) Depreciation and amortization of intangible assets Non-GAAP Gross Profit GAAP Gross Margin (+) Stock-based compensation and related Payroll Taxes (+) Depreciation and amortization of intangible assets Non-GAAP Gross Margin Б Q3'23 $223.7 $243.4 Q4'23 FY¹23 Q1'24 $864.5 $249.0 $2.6 $11.1 $262.7 2.5 Q1¹23 Q2'23 $184.8 $212.5 2.1 2.4 2.5 9.4 11.0 11.2 43.0 10.3 10.5 $197.2 $225.4 $237.2 $257.2 $916.9 80.4% 81.7% 82.1% 0.9% 0.9% 0.9% 4.5% 4.0% 4.0% 85.8% 86.7% 87.0% 82.2% 0.8% 3.8% 86.9% 81.7% 0.9% 4.1% 36.6% 81.6% 0.9% 3.6% 86.1% 28#29GAAP to Non-GAAP Reconciliation Operating Expenses Amounts in Millions GAAP Sales and Marketing Expenses (+) Stock-based compensation and related Payroll Taxes Non-GAAP Sales and Marketing Expense GAAP Research & Development Expense (+) Stock-based compensation and related Payroll Taxes Non-GAAP Research and Development Expense GAAP General & Administrative Expense (+) Stock-based compensation and related Payroll Taxes (+) Acquisition-related expenses Non-GAAP General and Administrative Expense Q1'23 Q2'23 Q3'23 Q4'23 FY¹23 Q1'24 $118.6 $164.7 $115.4 $117.2 $515.9 $118.4 (30.2) (69.8) (18.6) (13.8) (132.4) (14.1) $88.4 $94.9 $96.7 $103.4 $383.4 $104.3 $75.12 $78.9 $78.8 $81.8 $314.6 (21.357) (27.3) (23.3) (23.9) $53.8 $51.6 $55.5 $57.9 (95.9) $66.7 (20.9) 0.0 $45.8 $69.4 $71.7 (21.0) (21.3) (0.2) $48.2 $218.8 $73.5 $281.3 (18.9) (1.0) (0.3) $50.1 $53.5 $197.6 (82.2) (1.5) $89.1 (27.9) $61.2 $85.3 (21.4) (0.1) $63.9 29#30GAAP to Non-GAAP Reconciliation Operating Income and Net Income Amounts in Millions GAAP Operating Income / (Loss) (+) Depreciation and amortization of intangible assets (+) Stock-based compensation and related Payroll Taxes (+) Acquisition-related expenses Non-GAAP Operating Income / (Loss) GAAP Net Income / (Loss) (+) Depreciation and amortization of intangible assets (+) Stock-based compensation and related Payroll Taxes (+) Acquisition-related expenses (+) Amortization of debt discount (accretion of debt premium) and issuance cos (+) Gain on extinguishment of debt (+) Income tax benefit associated with Notes and acquisition Non-GAAP Net Income / (Loss) Q2'23 Q1'23 ($87.7) ($112.5) 22.3 Q3'23 Q4'23 FY¹23 ($54.2) ($41.4) ($295.8) 23.6 22.5 23.0 91.5 319.9 120.5 65.7 59.2 74.5 0.0 0.3 1.5 0.2 $30.8 $34.8 1.0 $42.3 $117.1 $9.1 ($81.6) 22.3 74.5 0.0 1.7 0.0 0.0 $16.9 ($95.1) ($31.1) ($15.9) ($223.7) 22.5 23.0 23.6 91.5 120.5 65.7 59.2 319.9 0.2 0.3 1.0 1.5 1.8 1.7 1.7 7.0 0.0 0.0 0.0 0.0 (0.5) (1.0) (0.2) (1.7) $49.4 $58.7 $69.4 $194.4 Q1'24 ($56.6) 23.9 66.0 0.1 $33.4 ($27.9) 23.9 66.0 0.1 1.8 0.0 0.0 $63.9 30