#111.monday.com Work OS Changing the way that people work and businesses operate -9 Work OS C 92% A#2Safe Harbor Disclaimer This presentation has been prepared by monday.com Ltd. ("we," "us," "our," "monday.com" or the "Company"). This presentation (including oral commentary that accompanies this presentation) contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the Company's future financial or business performance, plans, prospects, trends or strategies. These statements represent the Company's opinions, expectations, beliefs, intentions or estimates regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by words such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "seek," "believe," "estimate," "predict," "potential," "continue," "contemplate," "possible" or the negative of these terms and similar statements of a future or forward-looking nature. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other important factors, many of which are difficult to predict and beyond the Company's control, that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement. The Company believes these factors include, but are not limited to, our ability to predict our revenue and evaluate our business and future prospects; our ability to manage our growth effectively execute our business plan or maintain high levels of service and customer satisfaction; our ability to achieve and maintain profitability and compete effectively with established companies and new market entrants in a competitive and rapidly changing market; interruptions or performance problems associated with the technology or infrastructure underlying our platform; real or perceived errors, failures, vulnerabilities, or bugs in our Work OS; our ability to attract customers, grow our retention rates, expand usage within organizations and sell subscription plans; our ability to offer high-quality customer support; our ability to effectively develop and expand our direct sales capabilities; our ability to enhance our reputation and market awareness of our Work OS; actions by governments to restrict access to our platform in their countries; our ability to identify and integrate future acquisitions, strategic investments, partnerships or alliances; our ability to attract and retain highly skilled employees; our ability to raise additional capital or generate cash flows necessary to expand our operations and invest in new technologies; the market and software categories in which we participate; our ability to ensure that our Work OS interoperates with a variety of software applications that are developed by third parties; the success of our strategic relationships with third parties; privacy, data and cybersecurity incidents or any actual or perceived failure by monday.com to comply with privacy, data protection, information security, consumer privacy, data residency, or telecommunications laws, regulations, government access requests, and obligations; intellectual property disputes; changes in foreign exchange rates; general political or destabilizing events, including war, conflict or acts of terrorism; and other factors described in "Risk Factors" in our prospectus for the initial public offering of our ordinary shares filed with the SEC on June, 11, 2021 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended. Should one or more of these risks or uncertainties materialize, the Company's actual operating and financial performance may differ in material respects from the performance projected in these forward-looking statements. The forward-looking statements included in this presentation are made only as of the date hereof. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any estimates or forward- looking statements whether as a result of new information, future events or otherwise, or to reflect occurrence of unanticipated events. This presentation contains certain supplemental financial measures that are not calculated pursuant to GAAP. The Company believes that these non-GAAP financial measures, when presented in conjunction with comparable GAAP measures, provide useful information about its operating results and enhance the overall ability to assess the Company's financial performance. These non-GAAP financial measures are in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their most directly comparable GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.#3monday.com Q2-21 overview in numbers $70.6M Revenue 226% YoY increase in customers with $50K ARR** 470 customers, up from 144 in Q2-20 89.7% Gross margin* * Non-GAAP financial measures, see Appendix. ** For definitions of ARR and Net dollar retention, see Appendix. 94% YoY revenue growth >125% Net dollar retention rate** of customers with 10+ users up from 121% for Q1-21, and 119% for Q4-20 ($1.5M) Adjusted free cash flow* represents (2%) of revenue Strong revenue growth Quarterly Revenue Run Rate (GAAP Revenue X 4) $27 Q2-18 $68 Q2-19 $146 Q2-20 $282 Q2-21 ~100% of our revenue is generated from subscriptions GAAP revenue was $32M, $78M, and $161M for FY 2018, 2019 and 2020, respectively.#4Serving teams and organizations 8-8 Teams & orgs of all sizes 2 - 7,000 Land & expand Self-serve + flywheel sales model of all kinds 190+ countries 14 languages 한국어 +* Español Português русский Français Deutsch 기기 200+ business industries Thousands of use cases Work management tools Software applications Creating a unified workspace </> Tech & non-tech industries ~70% non-tech for its simplicity and ease of use#5Traditional work software wasn't working Rigid architectures Forcing users to adapt to software rather than the other way around. Development capabilities limited to a select few Creating a lack of speed and agility. Disconnected work tools and applications Causing work silos and loss of information. Urgent Urgent Urgent 2 1 8 15 Stuck 22 2 Stuck 9 23 17 27 Working or#6monday.com Product demo monday.com Work OS Democratizing the power of software Watch now#7Pioneering a new category of software The monday.com Work OS Flexible and adaptable Built to change and grow with every customer Customizable no-code building blocks Easy enough for anyone to use One platform to run all aspects of work Where employees run and manage their everyday work Creating a single unified workspace Connective tissue integrating tools and aggregating data 11 8=#8Built like no other software Simple-to-use building blocks that are powerful enough to drive the core functionality within any organization, in any industry, for any use case. 川口 Team progress Toin 80 When Person is assigned, notify me Every Monday at 09:00AM, create 3 items When Date arrives and Status is not Done, create an update Automatic workflows Time tracking 093504 051234 013409 06:33 End R Dashboard Widgets Overall progress Board Views New landing page design Assets for app store Conatct us page e New user interview Research for MVP Working on it Sep 18 Stuck סו, כŞ Sep 12 13 Sep 22 Done Done Columns New York, NY, USA Sep 05 Sep 09 Apps marketplace 09:14 PM 786-462-39 Oth 50m 39s 16 000 Integrations Working on it Xo 4 01:17 AMA#9Building blocks Empowering anyone to build their own tools with no-code building blocks Built as a modular, non-rigid infrastructure Easy to adopt and easy to scale over time Users can fully customize their experience with our no-code and low-code capabilities - nothing is predefined Every building ock supports a compounding effect, allowing us to advance rapidly Workspaces 1 11. Formy Automations CRM 咱 [IMG Views Widgets Columns HR Integrations PMO ‒‒‒‒‒#10Connective layer Integrates with any tool. Automates any workflow Brings organizations' departments, applications and data into one unified workspace Serves as a connective layer, integrating with various digital tools across any organization Easily automates complex workflows to accelerate digital transformation, enhance organizational agility, boost productivity and increase operational efficiency G When a campaign goes live, create an item in marketing campaigns + Add to board When an issue is created in R&D tasks, create an item and sync future changes + Add to board When an update is posted in weekly tasks, send it with Gmail + Add to board salesforce When an object meets these conditions, create an item and sync all future changes + Add to board in When date arrives, create a new post and share it + Add to board When a status changes to stuck, create an issue in bug report + Add to board zoom When starting a meeting on zoom, create an item and sync meeting details#11Building blocks Introducing monday workdocs A unique building block that offers a powerful and flexible canvas to drive workflows forward and turn words into actions. Connects to the entire work ecosystem Workdocs is an active, live layer of any organization's work processes, propelling ideas into action items through real-time, connected data. Opens a whole new world of use case From creative marketing briefs to HR performance reviews, legal documents, and much more. New entry point for customers A more flexible way to onboard new customers and deepen adoption in companies. monday workdocs 9.#12Pricing model ~100% of our revenue is subscription-based Price is per user according to the subscription plan Free tier $0 Up to 2 seats free forever For individuals looking to keep track of their tasks and work Basic $8 Total $23 / month Billed annually seat/ month Try for free For teams getting started with managing all their work in one place Standard seat/ month $10 Total $29 / month Billed annually Try for free For teams to collaborate externally & visualize their work in different ways Pro $16 Total $47/ month Billed annually seat/ month Try for free For teams to streamline and control complex workflows and operations Enterprise Contact us For organizations seeking enterprise-grade project & workflow management#13monday.com is now available to everyone thanks to our new free tier We launched a free plan for teams of up to 2 people. This new plan allows us to expand and develop a long-term relationship with new audience, providing easy entry to the platform for everyone. Free tier $0 Up to 2 seats free forever Get started For individuals looking to keep track of their tasks and work#14Go-to-market strategy Rapid product innovation  One platform, many Product Solutions ^^ Expanding upmarket#15Rapid product innovation enables us to capture the market We are constantly expanding our existing capabilities, serving new industries and enterprise customers. Product launch 2014 BigBrain- Our Bl system 2015 Mobile app 2016 Columns Board Templates $11M 2017 Sales & Partners group founded Automations ✩ Integrations Views 2018 </> Apps Dashboards Localization 13 Languages $32M marketplace $161M 2019 A Docs $78M 2020 2021 Annual Revenue#16Rapid product innovation From 2018 Item Page Andy Greenberg Mashar 1 Board view Hi @Everyone on this board, here's the link to Andy Greenberg's CV. Let us know what you think @May Board New landing page deisgn Assets for app store Conatct us page May Seems like a good fit to the team New user interv Research for MP 4A Sep 18 Sep 12 Done 7 Columns Sep 05 Sep 09 Working on it O 6h 50m 38s Low priority New York, NY, USA 31.Sep net30#17Rapid product innovation To 2020 When Status changes to Stuck, notify board subscribers When Date arrives and Status is not Done, create an update Team progress Today New design blog design Start project Mar 13 When status is something, notify someone every time period Add to board 14 15 Planing +150 Automations Weeks 14 Months Years 20 24 09:35:04 23 Time tracking 05:12:34 24 Creative requests Su G 06:43-32 Q ZIP +16 Views Board Dashboard Overall progress ew landing page deisgn Assets for app store +16 Widgets New user intere Research for MVP Projects overview ✰✰ • Stok 12 Done +40 Columns Working on it Budget tracker $50,796 +30 Apps O 13 O6h 50m 38s 09:14 PM New York, NY, USA Low priority 23 786-462-3992 31, Sep Sok net30 ***** +x 1h 32m 28s O 88 ●01:17 AM #Integration #App New York, NY, USA +48 Integrations 786-462-3992 D 00#18Rapid product innovation Apps marketplace We opened the Work OS to external developers, rapidly expanding its capabilities and deepening our Product Solutions. Q4 2020 Launched >16K External developers Accelerates innovation Enterprise deal driver Supports Product Solutions .appsmarketplace Staff Picks Marketplace Home Featured Top Selling Daily Tools Discover new apps to extend your monday.com Work OS monday.com Apps marketplace Essential Apps Browse by Category Solutions HR & Team Culture Marketing Project Management Sales Analytics Works On 0 || ☐ Select All Board View Dashboard Widget Item View • Integration Template Find published app lii Q Eazyform The easiest and quickest way to create monday.com forms that look exactly the way you want them. Apps by monday.com x 0 Whiteboard by monday.com A shared, collaborative space where you can brainstorm, and create together # ||| ☎ Unito Connect and sync monday.com to Jira, Github, HubSpot, Zendesk, and more, and choose which information to flow back and forth across them. 31 Performance insights by monday.com Understand your workflow performance, easily see the duration tasks were "Stuck". 。 O Manage Apps Help king status nday.com Developer ✓ se your team's availability and o's WFH, 000, or anything in n +- x= General Caster This brand new app includes a collection of automation recipes aimed at performing... DO DO#19One product, many Product Solutions We're taking one modular infrastructure and packaging our offerings into Product Solutions, expanding to hundreds of industries and thousands of use cases without friction. Marketing ----- ---- HR III CRM W Product Development 10 ‒‒‒‒‒ PM Software Development Work OS III ‒‒‒‒‒#20am planning month at month Product Solutions Application form Broad customer acquisition funnel TH Employee onboarding 02 team iteration T Project management L Ensure that this date in Recruitment pipeline New applicants Event progress HR and recruitment Sales pipeline Opportunities 1- Won deals Sales dashboard DE When a status changes to Done, notify item subscribers Team tasks This week $1,624,830 555 555 CRM Quote Tasks dashboard Contact card Task management Digital assets. Creative brief Facilities requests Open requests Working on it ****** Marketing and creative *** ***** Supplies dashboard Campaign timeline $1,624,830 Campaign planning This month Next month $9.452 Order form Operations Sprint planning This month I- Next month S O IT ticket X Features roadmap da Software development M IT requests New requests 1- Done Asset management Sprint focus IT S A $ • D 14,559 Bug 1#21Product Solutions A customized user journey An example: CRM Product Solution Targeted ads ✓monday.com Manage sales, projects and marketing with a simple CRM Sales pipeline Tw Try for free & A monday.com Sales pipeline Customer projects Landing pages The CRM platform that is simple to set up and easy to use Manage everything in one place. monday.com lets you handle sales pipelines, customer onboarding, clients' projects, marketing, and much more! CRM dashboard 02 Cats onboarding Evolve Marketing inc Admiral Project & Co Get Started > Average deal size $62,000 0 $131,000 $15.000 Marketing progress In negotiation Deal won Contacts TAMMIK Get Started > Marketing campaigns Q & Q Workspace C CRM Add Filters Q Search Overview Sales Dashboard Pipeline Analysis Collections Overview Account Management Hiring CRM Sales Team and Attainme... Contacts Lead Capturing CRM Accounts Management Invoices and Collections Activities board CRM ✩ Main Table New Item ✓ ◆ Leads Deal name 4 Deal name 8 Deal name 5 Deal name 3 Deal name 9 Deal name 2 Deal name 1 C Deal name 8 EcoATM test + Add Q Search Deals status Discovery opportunities for Product Solutions include our template store, integration center, email marketing, CSM, and more. Tasks t ta tg 12 tg1 to 1 Product Person Form Owner LeBron Jam.. Lionel Messi LeBron Jam.... Stephen Curry Lionel Messi James Hard... Stephen Curry James Hard.. Ent AE 1 Main View Filter v IT Sort Owner 2 S 2 a 9 @ 65 + Add View 2 Team Enterprise SMB Enterprise Enterprise SMB Mid Market Enterprise Mid Market Enterprise IE Activity + Add to board Integrate Contacts Phoenix Levy Leilani Krause Leilani Krause Leilani Krause Leilani Krause Phoenix Levy Madison Doyle Madison Doyle EcoATM test Stage Lead Lead Negotiation Lead Lead Lead Automate/10 Lead Lead Negotiation Priority Low High High High High High High High High ***#22ARR Expanding upmarket with different product solutions, across any organization Bottom-up adoption Illustrative leading game publisher $800K $700K $600K $500K $400K $300K $200K $100K $OK Marketing Project management Software development 5 Users $1K Jun-18 105 Users $30K Dec-18 Creative 330 Users $95K HR Jul-19 CS 700 Users $201K Ops 2000 Users $569K Jan-20 2500 Users $758K Sep-20 Dec-20 ARR Sales-led adoption Illustrative leading financial institution $450K $400K $350K $300K $250K $200K $150K $100K $50K $OK Ops HR Marketing 150 Users $52K Global communications Nov-19 Business units IT 525 Users $145K Mar-20 1300 Users $300K Jun-20 1900 Users $410K Oct-20#23Expanding upmarket Increasing number of enterprise customers with more than $50K ARR We're focusing on security, control and governance to enable new enterprise deals and expansion. Robust board and item level permissions Audit log enhancements Domain block and IP restriction Multi-region support - EU region is fully operational * Information is as of the end of each quarter. 9 Q1-19 23 Q2-19 46 Q3-19 76 Q4-19 105 Q1-20 226% YoY growth 144 Q2-20 185 264 335 Q1-21 Q3-20 Q4-20 Number of enterprise customers with more than $50K ARR 470 Q2-21#24Expanding upmarket Every team, every industry, every use case NHL SEMRUSH THE STUDENT HOTEL Canva BAUER MEDIA GROUP OXY lightspeed ifood INDOSUEZ WEALTH MANAGEMENT BBC STUDIOS TENNESSEE ONCOLOGY HOLT CAT 117 PELOTON INTERIOR LOGIC GROUP UNIVERSAL UNIVERSAL MUSIC GROUP e Carrefour#25Large and growing market opportunity Market trends: Organizations continue to digitize all aspects of work, across all industries Work is becoming much more distributed, cross-functional and reliant on software $22B Collaborative applications $5B Software development Total TAM $56B $4B Project management $14B Marketing campaign management $11B CRM Note: Based on IDC data for 2020, representing the relevant segments of the entire market#26Why we win 13 A new category of software Work OS is the future of work software Virtually limitless 4 Flexible building blocks, open API, and apps marketplace ensure customers never hit a wall 2 Fits organizations of all sizes, from teams of 2 to companies of over 7,000 Flexible and adaptable A core work tool Used on a daily basis by all information workers, both tech and non-tech 5A Creating a unified workspace 3 Connecting departments, tools and data across the organization 6 Strong culture and values A key factor in our success and a key differentiator for our business#27Financial overview and update#28Consistent incremental revenue growth ($ Millions) Quarterly revenue Q2-21 YoY growth: 94% $17 $13 $21 $27 $32 $36 $43 $50 $59 $71 1 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Annual revenue '18-'20 CAGR: 124% $32 FY-18 $78 FY-19 $161 FY-20#29Improving operating leverage Expenses as a % of revenue (91%) 148% 20% 9% FY-19 * Non-GAAP financial measures, see Appendix. (53%) 113% 19% 9% FY-20 (40%) 100% 19% 10% Q1-21 (14%) 79% 16% 9% Q2-21 Operating Margin* S&M as % of Revenue* R&D as % of Revenue* G&A as % of Revenue*#30Investing in growth while improving cash efficiency Quarterly Adjusted Free Cash Flow* Margin Q4-20 Q2-20 (41%) Q3-20 (18%) (24%) Q1-21 * Non-GAAP financial measures, see Appendix. (3%) Q2-21 (2%) Adjusted free cash flow amounts to: ($15M), ($7.8M), ($11.9M), ($1.6M), and ($1.5M) for Q2-20, Q3-20, Q4-20, Q1-21, and Q2-21, respectively. Annual Adjusted Free Cash Flow* Margin FY-19 (49%) FY-20 (25%) YTD-21 (2%) Adjusted free cash flow amounts to: ($38.4M), ($40.7M) and ($3.1M) for FY-19, FY-20 and YTD-21, respectively.#31monday.com Thank you#32monday.com Appendix Supplementary materials#33Definitions (1) We calculate Net Dollar Retention Rate as of a period end by starting with the ARR from customers as of the 12 months prior to such period end ("Prior Period ARR"). We then calculate the ARR from these customers as of the current period end ("Current Period ARR"). The calculation of Current Period ARR includes any upsells, contraction and attrition. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net dollar retention rate. We then use a weighted average of this calculation of our quarterly Net Dollar Retention Rate for the four quarters ending with the most recent quarter. (2) Annual recurring revenue ("ARR") is defined to mean, as of a measurement date, the annualized value of our customer subscription plans assuming that any contract that expires during the next 12 months is renewed on its existing terms. (3) Adjusted free cash flow includes net cash used in operating activities less cash used for purchases of property and equipment and capitalized software development costs, plus non-recurring expenditures such as capital expenditures from the purchases of property and equipment associated with the build-out of our corporate headquarters.#34Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) Net cash used in operating activities Purchase of PP&E Capitalized software development costs Purchases associated with build-out of new corporate headquarters Adjusted free cash flow Adjusted free cash flow margin FY-19 (36.7) (1.4) (0.3) (38.4) (49%) FY-20 (37.2) (4.4) (1.1) 2.0 (40.7) (25%) YTD-21 (1) (5.6) (1.2) 4.7 (3.1) (2%)#35Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) Net cash used in operating activities Purchase of PP&E Capitalized software development costs Purchases associated with build-out of new corporate headquarters Adjusted free cash flow Adjusted free cash flow margin Q2-20 (13.9) (1) (0.2) 0.1 (15) (41%) Q3-20 (7.2) (0.5) (0.2) 0.1 (7.8) (18%) Q4-20 (10.9) (1.7) (0.6) 1.3 (11.9) (24%) Q1-21 (0.6) (4.2) (0.5) 3.7 (1.6) (3%) Q2-21 (0.4) (1.4) (0.7) 1 (1.5) (2%)#36Reconciliation of non-GAAP financial measures ($ in thousands) Reconciliation of gross profit: GAAP gross profit Add: Share-based compensation Non-GAAP gross profit Reconciliation of gross margin: GAAP gross margin Non-GAAP adjustments Non-GAAP gross margin Reconciliation of operating expenses: GAAP research and development Less: Share-based compensation Non-GAAP research and development FY-19 66,111 970 67,081 85% 1% 86% 24,637 9,396 15,241 FY-20 138,635 2,720 141,355 86% 2% 88% 43,480 12,142 31,338 Q1-21 51,048 1,531 52,579 87% 2% 89% 15,581 4,537 11,044 Q2-21 61,507 1,833 63,340 87% 3% 90% 16,271 5,068 11,203#37Reconciliation of non-GAAP financial measures ($ in thousands) GAAP sales and marketing Less: Share-based compensation Non-GAAP sales and marketing GAAP general and administrative Less: Share-based compensation Non-GAAP general and administrative Reconciliation of operating loss: GAAP operating loss Add: Share-based compensation Non-GAAP operating loss GAAP operating margin Non-GAAP adjustments Non-GAAP operating margin FY-19 118,534 3,283 115,251 15,458 8,190 7,268 (92,518) 21,839 (70,679) (118%) 27% (91%) FY-20 191,353 10,068 181,285 54,339 39,415 14,924 (150,537) 64,345 (86,192) (93%) 40% (53%) Q1-21 63,048 4,034 59,014 10,266 4,438 5,828 (37,847) 14,540 (23,307) (64%) 24% (40%) Q2-21 61,057 5,536 55,521 11,648 5,121 6,527 (27,469) 17,558 (9,911) (39%) 25% (14%)