#11.monday.com Work OS Changing the way that people work and businesses operate morum doy sales C eck Bon crean updat Stats Work OS ry work megement mana Rostockis#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, including but not limited to, statements regarding our financial outlook and market positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "outlook," "guidance," "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond monday.com control. monday.com's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to our limited operating history, fluctuations in operating results, and the fact that we derive a majority of revenues from a single product; our history of net losses and risks related to our ability to achieve or maintain profitability and manage our growth or business plan effectively; foreign currency exchange rate fluctuations; real or perceived errors, failures, vulnerabilities or bugs or interruptions or performance problems in the technology or infrastructure underlying our platform; our ability to attract customers, grow our retention rates and expand usage within organizations; risks related to our subscription-based business model; our ability to offer high-quality customer support and consistent sales strategies; our ability to enhance our reputation, brand, and market awareness of our products; risks related to international operations; difficulties in integration of partnerships, acquisitions and alliances; risks associated with environmental and social responsibility; our ability to attract and retain highly skilled employees; our ability to raise additional capital or generate cash flows necessary to grow our business; our ability to generate new capabilities to compete in a market that is new and rapidly changing; uncertain global economic conditions; the ability of our Work OS to interoperate with a variety of software applications; our dependence on third parties for web engine searches, the maintenance of our infrastructure, the hosting of our platform, and mobile application distribution; risks related to security disruptions, unauthorized system access and evolving privacy laws and regulations; the novelty of our Digital Lift Initiative; changes in tax law and regulations; our ability to maintain, protect or enforce our intellectual property rights or risks related to claims that we infringe the intellectual property rights of others; risks related to the use of Al and Al-related products; risks related to our use of open-source software; risks related to our founder shares that provide certain veto rights; risks related to our status as a foreign private issuer located in Israel; our expectation not to pay dividends for the foreseeable future; risks related to legal and regulatory matters; and other factors described in "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2022, filed with the SEC on March 14, 2023. Further information on potential risks that could affect actual results will be included in the subsequent filings that monday.com makes with the Securities and Exchange Commission from time to time. Past performance is not necessarily indicative of future results. The forward-looking statements included in this presentation represent monday.com's views as of the date of this presentation. monday.com anticipates that subsequent events and developments will cause its views to change. monday.com undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing monday.com's views as of any date subsequent to the date of this presentation. This presentation contains certain supplemental financial measures that are not calculated uant to GAAP. The any 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.#3Our success by the numbers - Q2-23 Financial Highlights $176M Revenue 63% YOY increase in customers with $50K ARR* 1,892 customers, up from 1,160 in Q2-22 90% Gross margin** 42% YOY revenue growth >120% Net dollar retention rate of customers with 10+ users* $46M Adjusted free cash flow** represents 26% of revenue * For definitions of ARR and Net dollar retention rate, see Appendix. ** Non-GAAP financial measures, see Appendix. Strong revenue growth Quarterly revenue run rate (revenue x4) $146 Q2-20 $282 Q2-21 $495 Q2-22 ~100% of our revenue is generated from subscriptions $703 Q2-23#4Serving teams and organizations of all kinds 8-8 Teams & orgs of all sizes 2- 7,000 Land & expand Self-serve + flywheel sales model * As of March 31, 2023 ** As of December 31, 2022 O 200+ Countries & territories 14 languages 한국어 中文 Español Português русский Français Deutsch K 200+ Business industries Thousands of use cases Work management tools Software applications Creating a unified workspace 59% of Fortune 500 companies* 186,000+ customers**#5Expanding 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 144 185 264 335 470 613 793 960 63% YOY growth 1,892 1,160 1,323 1,474 1,683 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Number of enterprise customers with more than $50K ARR#6Traditional 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 ZAIDI#71.monday.com Product demo monday.com Work OS Democratizing the power of software Watch now#8One platform, many products We're taking one modular infrastructure and packaging our offerings into products, expanding to hundreds of industries and thousands of use cases without friction. monday work management Work OS monday CRM - monday dev DE#9Pioneering 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 Work Asset management Campaign planning 14,559 1/ OS#10Built 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. e C 000 onday work ma monday BEB Core Work OS products Automations EH DEL Views Partners Startups II Customers 1 marketplace Product T MUN Dashboard Board Widgets OBED G365 Appe Apps Columns Integrations Canvas Additional core products Work OS SI Add-ons 14 WorkForms MI#11Building 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 Dashboard $125,548 The station Item card 1 Yo Margin Board is month TH Next month View E Integrations 53#12Connective 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#13Go-to-market strategy EL Rapid product innovation F7 КУ One platform, many products Expanding upmarket#14Rapid product innovation enables us to capture the market We are constantly expanding our existing capabilities, serving new industries and enterprise customers. Product launch 2014 Annual Revenue BigBrain- Our Bl system 2015 Mobile app 2016 Board Templates $11M 2017 ID Columns 88 Views Sales & Partners group founded $32M 2018 O Localization 13 Languages Automations Integrations 88 2019 $78M Dashboards </> Apps marketplace canvas my work workdocs 2020 workforms $161M work OS products $308M 2021 $519M 2022#15Rapid product innovation From 2018 1 View Timeline view 1 Board Marding pyska Board Mew landing page deko Contato page ma for campaign performan Launch NYC scompig Working on a 7 Columns Working on it 31, Sep Sept 19-21 Text column 4738 #integration #App#16Rapid product innovation To 2023 mon MA MO MAN monday work OS products monday workforms When Status changes to Stuck, notify project manager monday work management =O When status is something, notify someone every time period Add to board =D When Status changes to Stuck, notify board subscribers When Date arrives and Status is not Done, create an update notify gery time When status is period Video annotation warts Check out Unlimited Automations monday canvas Create ACHB1000 Team Work 2 Dashboard 3,374 Time tracking 953234 557 Board 902496 064030 YASSI a Workdocs 25 Widgets Timeline - Graham Rowe Can you add the monthly goals? Optimize campaign performance Finalize rebrand efforts Increase SEO ranking Sprint focus 38 Columns 301 Apps 56 ← a 0126 4398 to 22m 2 76-46-399 766-462 20992 New York, NOK 30 117 Integrations 80 28 B 23 28 C#17Enhancing our partner ecosystem Our marketplace and partnerships continue to be major growth drivers, increasing our ability to serve all types of organizations across virtually any industry. 196 active channel partners 301 marketplace apps 708 new referral partners 136 apps collecting payments 1.appmarketplace Featured Explore Featured Best sellers New apps Category Project management Software development CRM Team management Productivity & Efficiency Integrations Marketing Collaboration Reporting & Analytics Import & Export Design & Creative HR Finance Sustainability Admin tools Sustainability Project management Search for an apps Project Management Manage projects with ease Explore apps →→ Featured U Item Name & Text Column Aut... By Unikoo Automatically update item names or text columns based on column values. 5 (8) Agile User Story Map Editor's choice By Pangolin Labs LTD Help Agile Teams define what to build and maintain visibility for how it all fits together. 5 (23) 1.5K Trending this week Q ECE Y Filters - Integrations Connect your favorite tools to monday.com Explore apps → Recurring Tasks By Adaptavist Finally, a way to create recurring tasks in a single step! 1.5K SAP Integration Editor's choice By Pangolin Labs LTD This integration app allows users to smoothly sync data from monday.com to SAP in user's daily work 5 (23) 88 T monip Ⓒ Installed apps X Show more → Dashboard Hub for monday.com By Appfire monblip Editor's choice By Pangolin Labs LTD Create and share reporting dashboards with custom charts and formulas. 672 Integrate your boards with a chatbot platform to notify according to telephone columns on monday.com 5 (23) 53 Show more >#18A customized user journey An example: CRM Product Targeted ads See where every deal stands ... Deals Maintable Pipeline Twister Sports Ridge Softwww. Bluemart Next month valloworks Sheleg Industries 2ft Records Wssemen Gallery SFF Cuise QP Kanten L monday sales CRM Oveer 1 630 Q Owner 0 " 0 Contacts Madison Doyle Phx Levy Cons Sam Spilberg Won Learn more → Igrate Close #monday.com Pos monday solos cam 3 Meeting Landing pages sery Com wage new The CRM software that's simple to set up and easy to use Deals Btw Frey PRE monday.com lets you honde all your work in one placo What would you like o monoge with your CRM platform? " 8 9 princ Get Started P Norg w ņ Crow wood (3) (the myth wyd balansing is c 11. A Ĉ & 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 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 6 ta B 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 8 (2 8 2 6 + 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 Leod Lead Lead Negotiation Leed Lead Lead Add to board Automate/10 Lead Negotiation Priority Low High High High High High High High High ...#19Why we win A new category of software Work OS is the future of work software 4 Virtually limitless 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 5: A core work tool Used on a daily basis by all information workers, both tech and non-tech 3.C Creating a unified workspace Connecting departments, tools and data across the organization 6 Strong culture values A key factor in our success and a key differentiator for our business#20Pricing model ~100% of our revenue is subscription-based Price is per user according to the subscription plan WorkForms Templates Inte Work reque Unlimite Most popular Premium $49/ (led yearly) Everything in Standard, plus: ✔Unlimited forms ✓Up to 10 team members ✓100,000 monthly submissions ✓ Brand customizations ✓ Advanced security ✓ Advanced analytics ✓ Integrations ✓ Automatic notifications Get Started monday.com Products Teams monday dev Choose team size: Basic dev seat / month $ Total $27 /month Billed annually Overview Features Try for free 3 Seats Plan and manage your team's Scrum F #monday.com Products Teams monday sales CRM Overview Choose team size: Basic CRM seat/ month $10% Total $30/month Billed annually A CRM F Try for free 3 Seats Organize all your team's leads, contacts, & deals #monday.com Products monday work management Ove Choose team size: Basic $8 month seat / Total $24/month Billed annually Try for free 3 Seats Manage all your team's work in one place Unlimited free viewers Unlimited items Teams v Ⓡ ℗ 1.monday.com Products Choose team size: 3 Seats Basic $8 seat / Total 24/month Billed annually Try for free Manage all your teams' work in one place Basic includes: Unlimited boards Unlimited docs Teams 200+ templates Platform 0 0 Resources Supercharge your teamwork. Start free. Unlimited boards and workflows. No credit card needed. Standard $10 seat/ month Most Popular Total 30/month Billed annually Try for free Collaborate and optimize your team processes Watch why Standard. Includes Basic, plus: Timeline & Gantt views Calendar view Guest access Get Started → ( 0 0 Pricing Pro $16 seat/ month Total 48/month Billed annually Try for free Streamline and run your teams' complex workflows Watch why Pro Contact sales Chart view Includes Standard, plus: Private boards and docs. Time tracking Create new account 0 Yearly SAVE 18% | 1 Enterprise Contact us. For organizations seeking enterprise-grade features Includes Pro, plus: Enterprise-scale Automations Integrations Enterprise-grade security & governance#21Financial overview and update#22Consistent incremental revenue growth ($ Millions) Quarterly revenue Q2-23 YOY growth: 42% 36 43 50 59 71 83 96 108 124 137 150 162 176 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Annual revenue '20-'22 CAGR: 79% 161 FY-20 308 FY-21 519 FY-22#23Strong net dollar retention rate All customers >125% >120% >120% IIIII Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 >115% >110% Note: For definition of net dollar retention rate, see Appendix. Customers with 10+ users >135% >135% >130% >125% Q2-22 Q3-22 Q4-22 Q1-23 Customers with >$50K ARR >120% ¯¯¯¯¯ Q2-23 >150% >145% >135% Q2-22 Q3-22 Q4-22 >125% Q1-23 >120% Q2-23#24Operating leverage while investing in growth Quarterly expenses as a % of revenue (12%) 70% 19% 12% Q2-22 (2%) 60% 19% 11% Q3-22 10% 54% 16% 10% Q4-22 (0%) Note: Non-GAAP financial measures, see Appendix. 63% 18% 10% Q1-23 9% 56% 16% 8% Q2-23 Operating margin S&M as % of revenue Annual expenses as a % of revenue (53%) 113% 19% 9% FY-20 R&D as % of revenue (17%) 79% 17% 11% FY-21 G&A as % of revenue (9%) 69% 18% 11% FY-22#25Investing in growth while maintaining cash efficiency Quarterly adjusted free cash flow margin (16%) Q2-22 10% Q3-22 20% Q4-22 24% Note: Non-GAAP financial measures, see Appendix. Q1-23 26% Q2-23 Adjusted free cash flow amounts to: ($19.3M), $14.0M, $29.7M, $38.7M and $45.9M for Q2-22, Q3-22, Q4-22, Q1-23 and Q2-23, respectively. Annual adjusted free cash flow margin 3% (25%) FY-20 FY-21 2% FY-22 Adjusted free cash flow amounts to: ($40.7M), $9.9M, and $8.1M for FY-20, FY-21 and FY-22, respectively.#2611.monday.com Thank you#2711.monday.com Appendix Supplementary materials#28Definitions (1) We calculate Net Dollar Retention Rate as of a period end by starting with the ARR from customers as of the 12 months prior to such period end ("Prior Period ARR"). We then calculate the ARR from these customers as of the current period end ("Current Period ARR"). The calculation of Current Period ARR includes any upsells, contraction and attrition. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net dollar retention rate. We then use a weighted average of this calculation of our quarterly Net Dollar Retention Rate for the four quarters ending with the most recent quarter. (2) Annual recurring revenue ("ARR") is defined to mean, as of a measurement date, the annualized value of our customer subscription plans assuming that any contract that expires during the next 12 months is renewed on its existing terms. (3) Free cash flow includes net cash used in operating activities less cash used for purchases of property and equipment and capitalized software development costs. (4) Adjusted free cash flow includes net cash used in operating activities less cash used for purchases of property and equipment and capitalized software development costs, plus non-recurring expenditures such as capital expenditures from the purchases of property and equipment associated with the build-out of our corporate headquarters.#29Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) Net cash provided by (used in) operating activities Purchase of PP&E Capitalized software development costs Purchase of property and equipment related to build-out of new corporate headquarters Adjusted free cash flow Adjusted free cash flow margin FY-20 (37.2) (4.4) (1.1) 2.0 (40.7) (25%) FY-21 16.4 (11.6) (2.2) 7.3 9.9 3% FY-22 27.1 (16.0) (3.0) 8.1 2%#30Reconciliation of non-GAAP financial measures Free cash flow ($ in millions) Net cash provided by (used in) operating activities Purchase of PP&E Capitalized software development costs Free cash flow Free cash flow margin Q2-22 (14.1) (4.5) (0.7) (19.3) (16%) Q3-22 20.0 (5.3) (0.7) 14.0 10% Q4-22 34.1 (3.8) (0.7) 29.7 20% Q1-23 42.7 (3.6) (0.4) 38.7 24% Q2-23 47.6 (1.1) (0.6) 45.9 26%#31Reconciliation of non-GAAP financial measures Non-GAAP operating loss ($ 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 GAAP sales and marketing Less: Share-based compensation Non-GAAP sales and marketing FY-20 138,635 2,720 141,355 86% 2% 88% 43,480 12,142 31,338 191,353 10,068 181,285 FY-21 269,137 7,681 276,818 87% 3% 90% 73,686 21,779 51,907 268,083 23,135 244,948 FY-22 452,501 10,406 462,907 87% 2% 89% 127,047 32,957 94,090 392,068 33,457 358,611#32Reconciliation of non-GAAP financial measures Non-GAAP operating loss (cont.) ($ in thousands) Reconciliation of operating expenses (cont.): GAAP general and administrative Less: Share-based compensation Non-GAAP general and administrative Reconciliation of operating loss and margin: GAAP operating loss Add: Share-based compensation Non-GAAP operating loss GAAP operating margin Non-GAAP adjustments Non-GAAP operating margin FY-20 54,339 39,415 14,924 (150,537) 64,345 (86,192) (93%) 40% (53%) FY-21 53,493 20,934 32,559 (126,125) 73,529 (52,596) (41%) 24% (17%) FY-22 85,401 28,100 57,301 (152,015) 104,920 (47,095) (29%) 38% 9%#33Reconciliation of non-GAAP financial measures Non-GAAP operating loss ($ 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 GAAP sales and marketing Less: Share-based compensation Non-GAAP sales and marketing Q2-22 106,988 2,915 109,903 86% 3% 89% 33,962 9,999 23,963 96,740 10,075 86,665 Q3-22 119,063 2,683 121,746 87% 2% 89% 33,984 7,725 26,259 90,970 8,538 82,432 Q4-22 132,562 2,367 134,929 88% 2% 90% 32,560 7,845 24,715 88,385 7,466 80,919 Q1-23 145,242 1,477 146,719 90% 0% 90% 37,063 8,544 28,519 107,680 5,028 102,652 Q2-23 156,163 1,845 158,008 89% 1% 90% 39,106 11,198 27,908 107,443 8,612 98,831#34Reconciliation of non-GAAP financial measures Non-GAAP operating loss (cont.) ($ in thousands) Reconciliation of operating expenses (cont.): GAAP general and administrative Less: Share-based compensation Non-GAAP general and administrative Reconciliation of operating loss and margin: GAAP operating loss Add: Share-based compensation Non-GAAP operating loss GAAP operating margin Non-GAAP adjustments Non-GAAP operating margin Q2-22 22,466 7,833 14,633 (46,180) 30,822 (15,358) (37%) 25% (12%) Q3-22 22,348 7,108 15,240 (28,239) 26,054 (2,185) (21%) 19% (2%) Q4-22 21,717 6,700 15,017 (10,100) 24,378 14,278 (7%) 17% 10% Q1-23 23,251 7,410 15,841 (22,752) 22,459 (293) (14%) 14% (0%) Q2-23 21,781 7,129 14,652 (12,167) 28,784 16,617 (7%) 16% 9%