#111.monday.com Work OS Changing the people work and businesses operate way that -8 Work 3 OS O 92% Ø 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 Q3-21 overview in numbers $83M Revenue 231% YoY increase in customers with $50K ARR** 613 customers, up from 185 in Q3-20*** 90% Gross margin* 95% YoY revenue growth >130% Net dollar retention rate** of customers with 10+ users up from >125% for Q2-21 $2.9M Adjusted free cash flow* represents 3% of revenue * Non-GAAP financial measures, see Appendix. ** For definitions of ARR and Net dollar retention rate, see Appendix. *** As of the end of each quarter. Strong revenue growth Quarterly Revenue Run Rate (GAAP Revenue X 4) $35 Q3-18 $84 Q3-19 $170 Q3-20 $332 Q3-21 -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 of all kinds 8-8 Teams & orgs of all sizes 2- 7,000 Land & expand Self-serve + flywheel sales model 190+ countries 14 languages 한국어 中文 Español Português русский Français Deutsch R_7 200+ 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 b 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 W ‒‒‒‒‒‒‒‒ Q ......#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. changes to Stuck, Aity project notify p manager omething, notify period one every time changes to Stuck, notify board subscrib and Status is not Done, create an update something, notify someone every time period Automations 09:36:04 091234 Views Dashboard idgets Overall progreso Board Com N Workdocs Spend se cham Graham Rowe Can you add the monthly goals? DO optimize campaign performance Fa rebrand efforts Apps marketplace 27 Columns Woningen 17220 2 New York, USA Integrations O#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 block supports a compounding effect, allowing us to advance rapidly Workspaces Forms Automations CRM ///// [IMG Views Widgets Columns HR m PMO ‒‒‒‒‒ Integrations III#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 & 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 M 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 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 cases 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#12Building blocks Introducing monday workdocs layouts Provide our customers with even more freedom to adjust monday workdocs to their business's needs Layouts allow customers to create any kind of template with live data Examples use cases: CRM contact page, deal page, marketing campaign overview, and much more. A Normal text V Campaign performance Guy Greenhut can you add all the metrics? A Title 66 Bullets List Numbers List Check List Widget Divider Image ►Video Board Quote Spend per channel Social 33% Ĵ ↑ Partnerships Social Offline campaign#13Building blocks Enhancing the workflow builder Our dynamic workflow builder will completely take our automations and integrations to the next level, giving even more power to customers and developers Customers can easily create, without code, any kind of custom automation or integration, no matter how complex they need it to be Developers can add their own no-code automations and integrations to create even more applications for our customers When status changes to Done ↓ Start clockwork Actions Search... D D 8 → Apps Ŏ M Notify someone create an item create an update assign a person move item to group Work Timer Start or stop your clockwork Gmail Send an Email to someone Embedded Files Add file to item Commentee Add comment as update Q 0 0 Ⓡ#14Building blocks Introducing My Work Giving individuals within teams the ability to gather customized data across all business units My Work is the place for customers and organizations to centralize all items - whether it's deals, campaigns, tasks or anything else - associated with their account. Sales pipeline Opportunities Sprint planning Iteration 132 Iteration 131 Q & 1 O & → & 1 My Work $$$ $$$ $$$ $$$ Today Deliver project budget to management Prepare TV ad campaign budget Send Sara final NDA This week Submit receipts for travel Final job posting for summer interns Review applicant resumes New office space plans Requester Requester 9 9 9 Status Working on it Stuck Done Status Working on it Stuck Working on it To Do Request date Jul 18 Jul 18 Jul 18 Request date Jul 20 Jul 21 Jul 22 Jul 22 Creative requests This week + 9 8 A ↓#15Pricing 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 $24 / 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 $30 / month Billed annually Try for free For teams to collaborate externally & visualize their work in different ways Pro seat/ month $16 Total $48/month Billed annually Try for free For teams to streamline and control complex workflows and operations Enterprise Contact us For organizations seeking enterprise-grade project & workflow management#16Go-to-market strategy Rapid product innovation One platform, many Product Solutions ^^) Expanding upmarket#17Rapid 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 B Docs $78M 2020 2021 Annual Revenue#18Rapid product innovation From 2018 1 View Timeline view 2000 1 Board Board Monitor campags performance CO winterw Research for ***** HO 7 Columns ing on it 31, Sep Working on it Sept 19-21 Text column 4,738 #Integration #App#19tus es to Stuck, ify project manager time Rapid product innovation To 2021 When Status changes to Stuck, notify board subscribers Then Date arrives and Status is not Done, create an update When status is something, notify someone every time period to board Add to b New design blog design Unlimited Automations 9 Mar 13 Time tracking 09:35:04 05:12:34 +11 Views 01-3409 G 06:43:32 Dashboard Monthly 35% Overall progress +24 Widgets 200 Timet Board 100 1 a. winding Assets for appro Conatct us page CO ***** Research for MyP Workdocs 9 ii Spend per channel Graham Rowe Can you add the monthly goals? Optimize campaign performance Finalize rebrand efforts Increase SEO ranking +95 Apps +34 Columns • Socie P offine campaign H 00 Working on it 11 Sept 19-21 00 27 786-462-3992 EX 786-462-39 28s 01:17 AM 4,738 18:32 New York, NY, USA #integration App New York, NY, USA +37 Integrations#20Rapid product innovation monday apps marketplace We opened the Work OS to external developers, rapidly expanding its capabilities and deepening our Product Solutions. Q4 2020 Launched Accelerates innovation >16K External developers Enterprise deal driver Supports Product Solutions .appsmarketplace Find published app Discover new apps to extend your monday.com Work OS monday.com Apps marketplace Staff Picks Marketplace Home Featured Top Selling Daily Tools Essential Apps Browse by Category Solutions HR & Team Culture Marketing Project Management Sales Analytics Works On ✓ □ Select All Board View Dashboard Widget Item View Integration Template Q Eazyform The easiest and quickest way to create monday.com forms that look exactly the way you want them. Apps by monday.com Whiteboard by monday.com A shared, collaborative space where you can brainstorm, and create together s ş B ILH Unito Connect and sync monday.com to Jira, Github, HubSpot, Zendesk, and more, and choose which information to flow back and forth across them. € Performance insights by monday.com Understand your workflow performance, easily see the duration tasks were "Stuck". O U Manage Apps 8 wap Help king status nday.com Developer te your team's availability and o's WFH, 000, or anything in n +- x= DO DO General Caster This brand new app includes a collection of automation recipes aimed at performing... f#21One 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 ----- IIII ‒‒‒‒‒ CRM HR W III Ol Product Development ‒‒‒‒‒ PM Software Development Work OS ‒‒‒‒I#22am planning month at month Product Solutions Broad customer acquisition funnel Application form THE Project management Employee onboarding Q2 team iteration Phase A Recruitment pipeline New applicants Event progress 39% HR and recruitment Sales pipeline Opportunities Won deals Sales dashboard DE When a status changes to Done, notify item subscribers Team tasks This week $1,624,830 H 555 CRM Quote Tasks dashboard Contact card Task management Digital assets Creative brief Facilities requests Open requests Working on it Supplies dashboard Campaign timeline Marketing and creative $1,624,830 Campaign planning This month Next month $9,452 Order form Operations Sprint planning This month Next month IT ticket a X Features roadmap 02 Software development M IT requests New requests I- i- Done Sprint focus Asset management IT 14,559 Bug#23Product Solutions A customized user journey An example: CRM Product Solution. Targeted ads monday.com Manage sales, projects and marketing with a simple CRM Try for free Sales pipeline & 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 Clients onboarding Blackstone Exports Evolve Marketing Inc Admiral Project & Co Get Started > Average deal sine $62,000 9 Marketing progress ‒‒‒‒‒ Get Started > Marketing campaigns 11. & a 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 v ◆ Leads Deal name 4 Deal name 8 Deal name 5 Deal name 3 Deal name 9 Deal name 2 Deal name 1 Deal name 8 EcoATM test + Add Deals status Q Search Discovery opportunities for Product Solutions include our template store, integration center, email marketing, CSM, and more. Tasks 6 ta ts H tg1 tg1 19 Product Form Person > Filter ✓ 11 Sort Owner LeBron Jam... Lionel Messi LeBron Jam.... Stephen Curry Lionel Messi James Hard... Stephen Curry James Hard... Main View Ent AE 1 Owner 2 F 2 9 (2 8 2 65 + Add View 2 Team Enterprise SMB Enterprise Enterprise SMB Mid Market Enterprise Mid Market Enterprise IE Activity Integrate Contacts O Phoenix Levy Leilani Krause Leilani Krause Leilani Krause Leilani Krause Phoenix Levy Madison Doyle Madison Doyle EcoATM test Stage Lead Lead Leed Negotiation Lead Lead Lead Add to board Automate/10 Lead Negotiation Priority Low High High High High High High High High ***#24ARR 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 $350 K $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#25Expanding 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 23 Q1-19 Q2-19 46 76 105 144 231% YoY growth 185 264 335 470 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Number of enterprise customers with more than $50K ARR 613 Q3-21#26Expanding upmarket Every team, every industry, every use case NHL SEMRUSH THE STUDENT HOTEL jamf Canva BAUER MEDIA GROUP 127 OXY INTERIOR LOGIC GROUP lightspeed ifood WEALTH MANAGEMENT BBC STUDIOS TENNESSEE ONCOLOGY HOLT CAT PELOTON TON UNIVERSAL UNIVERSAL MUSIC GROUP (6#27Large and growing market opportunity Market trends: Organiz ions 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 $11B CRM Note: Based on IDC data for 2020, representing the relevant segments of the entire market#28Why we win 13 A new category of software Work OS is the future of work software 4 Flexible building blocks, open API, and apps marketplace ensure customers never hit a wall Virtually limitless 2 Fits organizations of all sizes, from teams of 2 to companies of over 7,000 5 Flexible and adaptable A core work tool Used on a daily basis by all information workers, both tech and non-tech Creating a unified workspace 3 Connecting departments, tools and data across the organization 6 Strong culture and values A key factor in our success and a key differentiator for our business#29Financial overview and update#30Consistent incremental revenue growth ($ Millions) Quarterly revenue Q3-21 YoY growth: 95% $17 $13 $21 $27 $32 $36 $43 $50 $59 $71 $83 || || Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Annual revenue '18-'20 CAGR: 124% $32 FY-18 $78 FY-19 $161 FY-20#31Improving operating leverage Expenses as a % of revenue (91%) 148% 20% 9% FY-19 (53%) 113% 19% 9% FY-20 * Non-GAAP financial measures, see Appendix. (40%) 100% 19% 10% Q1-21 (14%) 79% 16% 9% Q2-21 (11%) 73% 17% 11% Q3-21 Operating Margin* S&M as % of Revenue* R&D as % of Revenue* G&A as % of Revenue*#32Investing in growth while improving cash efficiency Quarterly Adjusted Free Cash Flow* Margin 11 (18%) Q3-20 (24%) Q4-20 (3%) Q1-21 (2%) * Non-GAAP financial measures, see Appendix. Q2-21 3% Q3-21 Adjusted free cash flow amounts to: ($7.8M), ($11.9M), ($1.6M), ($1.5M) and $2.9M for Q3-20, Q4-20, Q1-21, Q2-21 and Q3-21, respectively. Annual Adjusted Free Cash Flow* Margin (49%) FY-19 (25%) FY-20 (0%) YTD-21 Adjusted free cash flow amounts to: ($38.4M), ($40.7M) and ($0.2M) for FY-19, FY-20 and YTD-21, respectively.#33monday.com Thank you#34monday.com Appendix Supplementary materials#35Definitions (1) We calculate Net Dollar Retention Rate as of a period end by starting with the ARR from customers as of the 12 months prior to such period end ("Prior Period ARR"). We then calculate the ARR from these customers as of the current period end ("Current Period ARR"). The calculation of Current Period ARR includes any upsells, contraction and attrition. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net dollar retention rate. We then use a weighted average of this calculation of our quarterly Net Dollar Retention Rate for the four quarters ending with the most recent quarter. (2) Annual recurring revenue ("ARR") is defined to mean, as of a measurement date, the annualized value of our customer subscription plans assuming that any contract that expires during the next 12 months is renewed on its existing terms. (3) Adjusted free cash flow includes net cash used in operating activities less cash used for purchases of property and equipment and capitalized software development costs, plus non-recurring expenditures such as capital expenditures from the purchases of property and equipment associated with the build-out of our corporate headquarters.#36Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) Net cash provided by (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 2.8 (8.6) (1.7) 7.3 (0.2) (0%) 36#37Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) Net cash provided by (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 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%) Q3-21 3.8 (3) (0.6) 2.7 2.9 3%#38Reconciliation 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 Q3-21 72,805 2,107 74,912 88% 2% 90% 19,875 5,620 14,255#39Reconciliation 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%) Q3-21 67,443 6,448 60,995 14,698 5,587 9,111 (29,211) 19,762 (9,449) (35%) 24% (11%)