#1August 12, 2021 nextdoor#2Disclaimer This Presentation (together with oral statements made in connection herewith, the "Presentation") relates to the proposed business combination (the "Business Combination") between Khosla Ventures Acquisition Co. II ("Khosla") and Nextdoor, Inc. ("Nextdoor"). This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 2 The information contained herein does not purport to be all-inclusive and none of Khosla or Nextdoor nor any of their respective subsidiaries, stockholders, affiliates, representatives, control persons, partners, members, managers, directors, officers, employees, advisers or agents make any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this Presentation. You should consult with your own counsel and tax and financial advisors as to legal and related matters concerning the matters described herein, and, by accepting this Presentation, you confirm that you are not relying solely upon the information contained herein to make any investment decision. The recipient shall not rely upon any statement, representation or warranty made by any other person, firm or corporation in making its investment decision to subscribe for securities of Khosla in connection with the Business Combination. To the fullest extent permitted by law, in no circumstances will Khosla, Nextdoor or any of their respective subsidiaries, stockholders, affiliates, representatives, control persons, partners, members, managers, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. In addition, this Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of Khosla, Nextdoor or the Business Combination. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. Forward-Looking Statements Certain statements in this Presentation may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 with respect to the Business Combination. Forward-looking statements herein generally relate to future events or the future financial or operating performance of Khosla, Nextdoor or the combined company expected to result from the Business Combination (the "Combined Company"). For example, projections of future financial performance of Nextdoor and the Combined Company, the Combined Company's business plan, other projections concerning key performance metrics, the proceeds of the Business Combination and the Combined Company's expected cash runway, and the potential effects of the Business Combination on Khosla and the Combined Company, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as " may,"" should,"" expect," intend,"" will," "estimate,"" anticipate,"" believe,"" predict," "project," "target," "plan," or "potentially" or the negatives of these terms or variations of them or similar terminology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Khosla, Nextdoor and its management, as the case may be, are inherently uncertain and subject to material change. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risk and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management's control, including general economic conditions and other risks, uncertainties and factors set forth in the section entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in Khosla's final prospectus relating to its initial public offering, dated March 23, 2021, the registration statement on S-4 relating to the business combination, and other filings with the Securities and Exchange Commission ("SEC"), as well as factors associated with companies, such as Nextdoor, including anticipated trends, growth rates, and challenges in those businesses and in the markets in which they operate. Nothing in this Presentation should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this Presentation, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Nothing in this Presentation should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this Presentation, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein and the risk factors of Khosla and Nextdoor described above. Neither Khosla nor Nextdoor undertakes any duty to update these forward-looking statements. Use of Projections This Presentation contains projected financial information with respect to Nextdoor. Such projected financial information constitutes forward-looking information, is for illustrative purposes only and should not be relied upon as being predictive of future results. The assumptions and estimates underlying such financial forecast information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in such prospective financial information, including without limitation, assumptions regarding Khosla's and Nextdoor's ability to consummate the Business Combination, the failure of which to materialize could cause actual results to differ materially from those contained in the prospective financial information. Khosla and Nextdoor caution that their assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. See the section above titled "Forward-Looking Statements". The inclusion of financial forecast information in this Presentation should not be regarded as a representation by any person that the results reflected in such forecasts will be achieved. Neither Khosla's nor Nextdoor's independent auditors have audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation or any other purpose, and accordingly, none of such independent auditors has expressed any opinion or provided any other form of assurance with respect to such projections. Financial Information and Use of Non-GAAP Financial Measures The financial information contained in this Presentation has been taken from or prepared based on the historical financial statements of Nextdoor for the periods presented. A review of Nextdoor's financial statements for the three months ended June 30, 2021 is in process. Accordingly, such financial information and data may be adjusted in or may be presented differently in future filings of the registration statement on Form S-4 filed with the SEC by Khosla in connection with the Business Combination. Nextdoor has not yet completed its closing procedures for the three months ended June 30, 2021. This Presentation contains certain estimated preliminary financial results and key operating metrics for the three months ended June 30, 2021. This information is preliminary and subject to change. As such, our actual results. may differ from the estimated preliminary results presented here and will not be finalized until we complete of our quarter-end accounting procedures.#3Disclaimer This presentation includes certain non-GAAP financial measures (including on a forward-looking basis). These non-GAAP measures are an addition, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to their nearest GAAP equivalent or any other performance measures derived in accordance with GAAP. A reconciliation of the non-GAAP financial measures used in this Presentation to their nearest GAAP equivalent is included in the appendix to this Presentation. Nextdoor believes that these non-GAAP measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about Nextdoor. Nextdoor's management uses forward-looking non-GAAP measures to evaluate Nextdoor's projected financials and operating performance. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents, including that they exclude significant expenses that are required by GAAP to be recorded in Nextdoor's financial measures. In addition, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore, Nextdoor's non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Additional Information In connection with the proposed Business Combination, Khosla has filed with the SEC a registration statement on Form S-4 containing a preliminary proxy statement/prospectus of Khosla and consent solicitation statement of Nextdoor. The registration statement is not yet effective. After the registration statement is declared effective, Khosla and Nextdoor will mail a definitive proxy statement/prospectus/consent solicitation statement relating to the proposed Business Combination to their respective stockholders. This Presentation does not contain any information that should be considered by Khosla's or Nextdoor's stockholders and other interested persons concerning the proposed Business Combination and is not intended to constitute the basis of any voting or investment decision in respect of the Business Combination or the securities of Khosla. Khosla's and Nextdoor's stockholders and other interested persons are advised to read the preliminary proxy statement/prospectus/consent solicitation statement and the amendments thereto and the definitive proxy statement/prospectus/consent solicitation statement and other documents filed in connection with the proposed Business Combination, as these materials will contain important information about Khosla, Nextdoor and the Business Combination. When available, the definitive proxy statement/prospectus/consent solicitation statement and other relevant materials for the proposed Business Combination will be mailed to stockholders of Khosla and Nextdoor as of a record date to be established for voting on the proposed Business Combination. Stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus/consent solicitation statement, the definitive proxy statement/prospectus/consent solicitation statement and other documents filed with the SEC, without charge, once available, at the SEC's website at www.sec.gov, or by directing a request to: Khosla Ventures Acquisition Co. II, 2128 Sand Hill Road, Menlo Park, CA 94025. Participants in the Solicitation Khosla, Nextdoor and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Khosla's stockholders with respect to the proposed Business Combination. A list of the names of Khosla's directors and executive officers and a description of their interests in Khosla is contained in Khosla's registration statement on Form S-4, which was filed with the SEC and is available free of charge at the SEC's web site at www.sec.gov, or by directing a request to Khosla Ventures Acquisition Co. II, 2128 Sand Hill Road, Menlo Park, CA 94025. To the extent that holdings of Khosla's securities have changed since the amounts printed in Khosla's registration statement on Form S-4, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. A list of the names of Nextdoor's directors and executive officers and a description of their interests in the proposed Business Combination is contained in Khosla's registration statement on Form S-4, which was filed with the SEC and is available free of charge at the SEC's web site at www.sec.gov, or by directing a request to Khosla Ventures Acquisition Co. II, 2128 Sand Hill Road, Menlo Park, CA 94025. You may obtain free copies of these documents as described in the preceding paragraphs. No Offer or Solicitation This Presentation shall not constitute a "solicitation" as defined in Section 14 of the Securities Exchange Act of 1934, as amended. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No public offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or an exemption therefrom. Neither Nextdoor nor Khosla is making an offer of the Securities in any state or jurisdiction where the offer is not permitted. NEITHER THE SEC NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. Industry and Market Data 3 Certain information contained in this Presentation relates to or is based on studies, publications, surveys and Nextdoor's own internal estimates and research. In addition, all of the market data included in this Presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while Nextdoor believes its internal research is reliable, such research has not been verified by any independent source and none of Nextdoor, nor any of its affiliates nor any of its control persons, officers, directors, employees or representatives make any representation or warranty with respect to the accuracy of such information. Trademarks This Presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this Presentation may be listed without the TM, SMⒸ or ® symbols, but Khosla and Nextdoor will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. No Relationship or Joint Venture Nothing contained in this Presentation will be deemed or construed to create the relationship of partnership, association, principal and agent or joint venture. This Presentation does not create any obligation on the part of either Nextdoor, Khosla or the recipient to enter into any further agreement or arrangement. Unless and until a definitive agreement has been fully executed and delivered, no contract or agreement providing for a transaction will be deemed to exist and none of Khosla, Nextdoor or the recipient will be under any legal obligation of any kind whatsoever. Accordingly, this Presentation is not intended to create for any party a right of specific performance or a right to seek any payment or damages for failure, for any reason, to complete the proposed transactions contemplated herein.#4LOCUTORENEN Welcome to the Neighborhood Sarah Friar Chief Executive Officer Vinod Khosla Nextdoor Khosla Ventures Acquisition Co. Il Founder Mike Doyle Chief Financial Officer David Weiden Founding Partner and Managing Director 4#5STRESSED Connecting neighborhoods one neighbor at a time#6#7Nextdoor is the neighborhood network ~1 in 3 U.S.Households 63M+ Verified Neighbors 29M+ Weekly Active Neighbors (WAUS) U.S. household and Verified Neighbor data as of 6/30/21. WAUs reflect the average for the quarter ended 6/30/21. Network effects with online & offline connection is unique Q2 Update Each social link is highly valuable because most commerce is local Robust current digital advertising market, future new revenue models Many vectors for sustained revenue growth High barrier to entry: network difficult & time consuming to build Only digital neighborhood network: purpose-driven & authentic Proven team: set up for acceleration & execution 7#88 Building back community 73% say neighbors are one of the most important communities in their lives(¹) Knowing at least 6 neighbors can reduce loneliness (²) 75% plan to shop more locally(3) 80% expect to work from home at least 3x per week(4) 2x expected growth of sharing economy (5) (1) Open Mind Strategy 2020; (2) Nextdoor Global Loneliness Study (3) Brightpearl, 2021; (4) Owl Labs October, 2020; (5) Statista, 2021. L#9Our purpose ARE A COMPOSTING CAFE To cultivate a kinder world where everyone has a neighborhood they can rely on FARM FARM O.. nextdoor#10People interact with and rely on their neighborhoods every day... Local Perspectives 9:41 Q Search Nextdoor Iina weymouth Asnoy Gardeners Ashby Bart-1d Popular posts from neighborhoods everywhere Happy Holidays. I have seen so many negative posts fately with... Home co We have a winner folks. I know this isn't a competition but I believe Chabot Crest just won garden of the year. Thank Comment Groups all For Sale 34 D:08 Notifications 14 *** Bob cats baby More Groups Jonathan's Fresh Local Seafood For Sale 1,624 members Home Join About Hello all! My name is Jonathan and I am a commercial fisherman out of Cape Cod! I created this group to notify everyone when I will be going fishing and when we will have crab or fish for sale! We are bringing fresh I... Cape Cod Anvone can ioin 88 Groups 4 Finds Notifications More ... Recommendations 9:41 < Back Ask a neighbor Where do you all go for spices and unique foodie items that you just can't find at Safeway? Posted in Ask a neighbor to Anyone Like S Home 3 hrs ago Comment Sophia Gipson Northgate-Waverly I love this! One of my favorite places is @Magnolia Mini Mart. They stock only from local businesses and farms. Can't go wrong with anything there! Comment all Groups 1 comments Share 3 hrs ago Agree Reply Kate Johnson Northgate-Waverly @Oaktown Spice Shop has the friendliest staff. They also have lots of boxes that make interesting gifts. Magnolia Mini Mart ♥ 23 2311 Magnolia St # M, Oakland Finds Oaktown Spice Shop 18 46 Grand Ave, Oakland Agree Reply 11 4 Notifications More ... 9:251 ← Connections Toddler/baby playground meetup community. Hey Neighbourhood, Posted General Jane Brown Kingsley Mar 31 We are new here and seeking community! We have two small children - 3 and 1 and would love to meet other families in the neighbourhood. Is anyone interested? BTW-also looking for a pack and play if anyone has one that their kids have outgrown... Home St Sepulchre's Cemetery 86 Cardigan St Jericho, Oxford, UK Comment 11 88 O Groups Finds enden St General to 26 neighbourhoods Green rempleton Radcliffe Observatory Quarter B Somerville Colle > 7 Comments 4 Notifications More ... Ln Businesses Reunion Ⓡ Mediterranean, Restaurant Message 7:00 AM - 10:00 PM ✓ Ragú & Pesto 2 miles away 5901 Westheimer Rd, Houston, TX 77057 Home Get directions Local Dala MATA Groups B Winsome Ln TGI Friday's Days Inn by Wyndham Houston-Balleria TX Call ♡37 Lamar Terrace Richmond Ave Judain Ln ... WPT 4 Finds Notifications. More 10#11A day in the life of a parent: meet Abraham Kingstowne Thompson Center, VA 12:04 General Abraham Walker Kingstowne Thompson Center. 28 Dec Anyone have experience with Huntington Learning center? We're looking into after school tutoring programs for the fellas and want to know how you like Huntington Learning Center? It seems pricey versus hiring an individual tutor. Is there something I don't understand about the program? Thanks in advance for your help. Posted in Recommendations to 33 neighborhoods Like Comment 7AM Searches for school tutor Share *** Drops kids off at school, remembers to search for an after-school tutor Hosts 30 coffees in 30 days to meet people nearby Meets neighbors for coffee 10AM 12:04 Abraham Walker Kingstowne Thompson Center - 3 Mar 20 Best Bacon Cheese Burger Award. Can you name a restaurant in our area that serves a better bacon cheese burger than Mike's American Grill? 50E I've unsuccessfully searched and can not find a better one in this region. Posted in Recommendations to 32 neighborhoods 4 Neighbors 60 Comments Like 12PM Comment Share Recommends a local restaurant Gives rave review for the local burger place where he had lunch Reaches out to neighbors for a pasta machine, to make his favorite chef's 24-layer lasagna Borrows neighbor's pasta machine 4PM Alexandria Dads Group Abraham Walker Kingstowne Thompson Center 31 Mar 6PM 11 Second Dad's Zoom Session - April 13, 2021 6-8pm. What's up, fellas? Hopefully, everyone had an amazing first quarter. April 13, 2021, from 6-8 pm we will be having another Zoom Session. Hosts Dads group Schedules Zoom Session to connect with local parents 2:41#12A week in the life of a small business owner: meet Dawn Grant Park, GA 5:06 1 Safari ← Delights By Dawn - 3 Recommendati... angu Delights By Dawn 3 Recommendations Food/grocery delivery Other service or business Bakery Recommend Q LTE Overview Recommendations Photos Photo gallery MON Updates her business page Updates with new spring time hours, and adds a few new photos Delights TUE by Dawn Checks her Local Deal dashboard to see how its performing and re-ups for another month Checks her dashboard 9:41 < Back Delights by Dawn ♥3 3 days ago This post is from a Local Business THU .... Spring Pop Up ** Join Delights by Dawn, alcohol infused desserts, for a special Spring Pop Up at The Curb Market, 4/24 from 2-5pm curbside. These desserts are perfect for a park day with friends, a birthday celebration, or even a bridal or baby shower. Order in advance on our website or stop by and order with us in person. We have tasty new flavors including Key Lime Margarita and Strawberry Colada. Yum! See you soon, neighbors Responds to neighbors Ⓡ 458 Notices new recommendations from neighbors and quickly replies to thank them for their support Responds to a question about payroll software from her local small business owner group Checks in with her business group FRI 5:53 7 Q Search Nextdoor Like 88 Delights by Dawn Sponsored Join the Delights by Dawn team! I'm looking for a passionate social media specialist to join my team, and help me grow my small business. Alcohol Infused Desserts Flechol Infused Desserts SAT Let's get to know each other! all 64 Apply Now 12 Promotes new job listing Looks to hire a new social media expert and creates an ad for the job#13A week in the life of fire information mgr: meet Cecile San Mateo-Santa Cruz, CA 5:06 1 Safari FIRE Wildfire Awareness .llLTE Webinar Join us as we present CAL FIRE's "Ready, Set, Go Program," and "The Zonehaven Evacuation Platform." There will be time for Q&A Tuesday April 6 from 6:30 to MON Wildfire Awareness Webinar: Meet Our Presenters CAL FIRE CU San Mateo Santa Cruz Information Offer Cecile Juliette From CAL FIRE-1 day ago WILDFIRE AWARENESS WEBINARS: Meet our guest presenters! We are featuring two defensible space & home hardening experts from local Fire Safe Councils in Part II of our Wildfire Awareness series. Sign up now to watch live and submit your questions this Tuesday night. Everyone is invited Cok the link to register! pyemail.constantcontact.com/W wwwin El dia Martes, 11 de Mayo, del 2021 a las 6:30PM, Vamos a tener una presentación sobre Prevención de incendios Forestales por medio de Zoom La presentación ser completamente en Espahaly tandrán oportunidad de hacer preguntas Muy pronto haremos of anuncio de cómo inscribirse para el evento Esperamos verics y así poder comentaries cualquier pregunta que tengan WELDEFE AWARENESS Home Harden De Don A ... Sets up wildfire webinar Organizes and promotes wildfire awareness webinar ahead of fire season Posts real time update on evacuation procedures for the immediate area Updates Evacuation Order TUE 10:28 Location 17th St 18th St Update local residents? cery Outlet 13th St 25th St WED Post to this area Alabama O 18th St St st S 23rd St 26t Alerts neighbors to local wildfire Pushes out a geo-targeted urgent alert about a fire to affected residents 10:28 nextdoor Home Messages THU Metrics 28 Invite Residents Events Agency Neighborhoods Directory Checks the post metrics to make sure messages are getting through Monitors metrics FRI Responds to questions Answers residents' questions about the urgent alert 13#14Strong competitive moat with viral growth loops built in Civic Engagement Local Recommendations Local Groups Local Businesses Local Marketplace 888 101 Neighbors Help me plug in Analytics nextdoor Real people Hyperlocal proximity Trusted information Local perspective Instant distribution Public Agencies Verified people & info lo CE Publishing Tools Businesses Hyperlocal at scale 4 Instant Messaging 8 89 J Instant Distribution Word-of-Mouth Recommendations Two-way Channel Data/ Targeting 14#15Established product-market fit: Enduring neighbor retention... 74% 65% I 3-month 6-month 59% 12-month 54% 24-month After two years >50% of our audience remains engaged Monthly active users (MAU) defined as count of unique members who have started a session or opened a content email over the trailing 30 days. 3 month MAU is defined as active in the 30 days preceding day 90, 6 month is active in the 30 days preceding day 180, 12 month is active in the 30 days preceding day 360, and 24 month is active in the 30 days preceding day 720. 3-, 6- and 12-month data based on users who joined in 2020; 24-month data based on users who joined in 2019. 15#16...Combined with strong network effects... % of Neighbors Active Weekly 60% 40% 20% 0% <5% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% % Neighborhood penetration 60% 65% % of Members Active Weekly reflects U.S. WAUs divided by All time Verified Members (AVMs). Data as of 3/31/21. 70% 75% 80% 85% 90%+ Our path to engagement growth is proven 2.3x increase in weekly engagement as more neighbors join 16#17Increasing penetration globally, with top neighborhoods exceeding 60% daily engagement Neighborhoods with top-quartile (>65%) penetration Top 10 engaged neighborhoods (>60% daily engagement) VERNON, BC Data as of 3/31/21. ELOY ORACLE MECHANICSBURG LANCASTER WIMAUMA LAKEWOOD RANCH MILLSBORO MARKET HARBOROUGH LAXFIELD 17#18...With an audience that finds distinct value on Nextdoor % of people who visit Nextdoor at least once per month but do not visit this social media platform at least once per month Did not visit Snap Did not visit LinkedIn Did not visit Twitter Did not visit Pinterest Did not visit Instagram Did not visit Facebook & Messenger 27% 43% 52% 64% 63% Source: Comscore Media Metrix® Multi-Platform, Cross Visiting, Total Audience, % Vertical, March 2021, United States Peer market cap data as of 6/3/21 per CapitallQ. 82% >$1T Aggregate market cap of these other platforms 18#19Nextdoor is one of the most frequently used consumer products DAU/WAU 80% 60% 40% 20% 0% Facebook Snapchat Google Chrome Instagram n Nextdoor Twitter Spotify The Weather Channel YouTube Pinterest Netflix Amazon Google Maps Weekly Active Users (WAU) engage nearly 4 times a week Source: App Annie. Nextdoor DAU/WAU based on internal data, 2020 daily average. DAU defined as a unique Registered Neighbor who starts a session or opens a content email on a given day. WAU defined as count of unique Registered Neighbors who have started a session or engaged with a content email over the trailing 7 days. 19#20A verified daily audience with significant monetization potential U.S. DAU and ARPU¹ U.S. DAU 90M 36M 12M n $10 $18 U.S. Average Revenue per User (ARPU) Annual Revenue per DAU Source: Company filings and internal data for 2020. Comparison is illustrative as each company calculates daily active users differently. Snap includes U.S., Canada, Mexico, the Caribbean and Central America. Twitter and Nextdoor include the U.S. only. 1. Snap and Twitter DAU and ARPU figures reflect data provided in their 2020 10-Ks. $59 20#21We have an increasing number of ways to drive acquisition and engagement Contact sync Multiplying friend networks 9:41 Find your friends Sync your contacts to improve your feed, see who's already here, and get notified when new friends join. You can turn off contact syncing from your Privacy Settings. Sync contacts Not now Sharing Sharing more content with more people 9:41 New: Post to Anyone Do you want to reach more people when you post? You will now be able to: Recruit more volunteers and grow o fundraisers Invite more people to your event Get more recommendations, faster Selecting Anyone allows your post to be visible on or off Nextdoor. Done Learn more 9:41 AA Neighborhood Guides Discovering more in more neighborhoods nextdoor.com Vivian G. Local since 2017 Getting out and about 5 Places LA Parks and Rec Local Ag Top 5 tacos Spec Venice Local publication Happening this week Ć See all > 9:41 Worthington Recent Tucker Dr COVID-19 Ride Hail Riverlea New England Ave Worthington DA WORTHINGTON South O ៦ Woman-owned 88 a Guide Hard Notifications Marketplace Video tools Making moments more shareable 9:41 .. Jermaine Park Guest. 3h 3 Add a comment Ask a Neighbor Engaging real local insiders 10:37 AA nextdoor Cancel nextdoor.com N Ask Venice Beach neighbors a question What is the best beach gym to hit up during Covid-19? 123 Ask a neighbor C QWERTYUIO P ASDFGHJKL ZXCVBNM space 47/140 Label 0 21#22Expanding engagement by following multiple neighborhoods Before: Follow the neighborhood where Villa Novena N 15th Ave 11th Ave N 3rd Ave Contral Ave ral Ave L I live N 7th St N 101 12th St Villa Novena N 3rd Ave reek I used to live State Hwy 20 I live N 7th St Forestport State Dam Pd Woodhull After: Follow the neighborhoods where My mum lives t I want to move W Buffalo St rative W State St thaca Market The Hotel I own a business I volunteer + Elmira Elmira Psychiatric I want to spend the summer teney ey Gallagher Rd. Lakeside F Gibson La I own a vacation home Metrowes Turkey Lake C 22#23We can 4.5x our reach just by reaching global penetration in-line with our more mature U.S. neighborhoods 312M Households U.S. 128M International 183M 203M Households U.S. 83M International 119M 45M Households U.S. 37M International 8M Source: U.S. Census, Statista and Statistics Canada. Nextdoor Q1 2021 data. U.S. only, excludes members in pilot neighborhoods. Claimed residences have at least one Current Verified Member (CVM) at the residence. Some figures may not sum due to rounding. +109M Households Future opportunities in existing markets (U.S./International) +158M Households Next opportunity for additional households at 65% penetration (U.S./International) 45M Households claimed in existing markets (U.S./International) 23#24Digital advertising TAM represents $600B+ opportunity $607B Global $355B Global $143B U.S. 83% Growth 2020 TAM Source: Global and US digital ad markets, eMarketer March 2021 Note: Digital advertising market is based on eMarketer U.S. ad spend and excluding B2B, which represents 6% of digital ad spend in 2020. Global advertising market includes annual ad spend across all countries world-wide and is not adjusted to Nextdoor's existing 11 markets. For both 2020 and 2024, assumes 6% B2B share across all global markets. $262B U.S. 2024 TAM Large Adjacent Markets Home services Local commerce Classifieds 24 Real estate Local events#25Connecting neighbors and organizations with highly relevant information Customer data as of 12/31/20. Global/national brands Hyperlocal targeting & creative at scale ~200 enterprise customers 9:41 Q Search Nextdoor Thank Comment H&R Block H&R BLOCK Sponsored 34 Have a project that would help your community? Help bring it to life! G 14 ... Nextdoor and H&R Block are working together to improve the quality of life in communities across the country, block by block. Nominate your neighborhood for a project now! Nominate your neighborhood project! Start here SMBS/neighbors for hire Discovery by relevant audiences >2M local business claimed pages 9:41 Pidosa BY DOSA Dosa by Dosa 72 Recommendations Indian Restaurant Recommend Restaurant Happening now Message Ill Overview Recommendations Photos Public agencies/utilities Verified distribution with flexible targeting >5K public agencies on platform 9:41 Q Search Nextdoor C Communications Team, Pacific Gas and ... ... Emergency Alert PG&E plans to proactively turn off power for safety and conduct a Public Safety Power Shutoff later tonight, just after midnight (10/9). As a precautionary measure to reduce wildfire risk during the forecasted See more... Public Safety Power Shutoff PG&E Alert | Alerta | iniAI | Cảnh Báo | Babala Z2 |Tpeac 8 Oct Subscribers of Pacific Gas and Electric Company in 13 areas Thank Comment V 1010 121978 Impressions 25#26Full funnel approach helping neighbors from awareness to action Awareness & Discovery Local context means Nextdoor content is relevant Intent & Influence First-party data creates efficient targeting Action Opportunities to purchase and act with ease Sponsorships Local Deals 3:01 Sponsored Posts Ending in 2 days 5:53 7 Q Search Nextdoor $30 off 2 hours or more of Handyman Service 104 neighbors saved this deal < Ace Handyman Services Chicagoland South Star Real Estate 24 Sponsored Poll: Spring is here! Which home projects are you tackling? Spring cleaning - we love it here at North Star Real Estate. We're putting together a list of local businesses and services that can help with your spring cleaning needs. But first we want to know, which projects are you tackling first? 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Choose from Crispy, Spicy, or Deluxe. 0² 1 Finds 1:47 1 Treat Map Sponsored by Party City 64 Dynamic Local Ads 26 Maps#27Why Nextdoor wins: We are the neighborhood network, strong network effects, and clear monetization upside Nextdoor = Neighborhoods Purpose-driven brand Global relevance Unique value prop Significant global addressable market Product innovation Multiple drivers of monetization Nextdoor is where you plug into the neighborhoods that matter to you. Purpose-driven brand - promotes growth, differentiates the business, and aligns the organization. 63M+ global Verified Neighbors today, and over 70% neighbor retention. Built on trusted information, physical proximity, and uniquely local perspective. Everyone is a neighbor. Near-term opportunity to add 150M+ households globally. Q2 Update 10 years of singular focus on all things neighborhood provides utility that can't be replicated. ARPU growth of 58% Y/Y in Q2 '21 accelerating from 29% Y/Y in Q1 '21. Global Verified Neighbor data as of 6/30/21. Reflects 3-month retention of neighbors who joined in 2020. ARPU shown is calculated by annualizing total global revenue divided by the weekly active users (WAU) in the period. 27#28Turbocharged leadership team in last 24 months Heidi Andersen Head of Revenue in G Craig Lisowski Head of Data, Information, Systems and Trust Square ORACLE Maryam Banikarim Head of Marketing HYATT GANNETT John Orta Chief Legal Officer & Head of Corp Dev metromile .. OpenTable® Mike Doyle Chief Financial Officer despegar eLong Expedia Bryan Power Head of People yahoo! □ Square G Sarah Friar Chief Executive Officer Square salesforce Kiran Prasad Head of Product in webOS Prakash Janakiraman Co-Founder, Chief Architect G✰Shopping.com Antonio Silveira Head of Engineering GoDaddy yahoo! 28#29Seasoned Board of Directors John Hope Bryant Entrepreneur, founder, chairman, CEO, author, activist Jason Pressman Shasta Ventures Sarah Friar Chief Executive Officer David Sze Greylock Capital Bill Gurley Benchmark Nirav Tolia Co-Founder Leslie Kilgore Former Netflix CMO Chris Varelas Riverwood Capital Mary Meeker Bond Andrea Wishom President, Skywalker Holdings 29#30Monetization and Outlook#31Financial highlights Differentiated products with contextual relevance enable sustainable growth High levels of neighbor retention enable consistent growth and ROI on acquisition spend Network effects increase WAU engagement as penetration increases ARPU expansion with multiple levers provides opportunity to continue to increase monetization Multiple under-monetized products creating potential for significant upside in growth Significant opportunity to monetize in rapidly growing international markets 31#32Growing base of engaged users... Ending Verified Users 33M 3M 30M 48M 6M 42M 58M 9M 49M 2018 2019 2020 U.S. Scale 41M 4M 36M 54M 7M 47M International 63M 10M 53M Q2 Q2 Q2 2019 2020 2021 Avg. Weekly Active Users (WAU) 13.3M Engagement 19.5M 26.7M 2018 2019 2020 WAU defined as the count of unique neighbors who have started a session or opened a content email over the trailing 7 days. Some figures may not tied due to rounding. 19.2M Q2 Update 32 27.8M Q2 Q2 2019 2020 29.2M Q2 2021#33...Leading to increased revenue & monetization Millions (M) $51M $83M 2018 2019 $123M 2020 Revenue $20M Q2 2019 $28M Q2 2020 $46M Q2 2021 Avg. Revenue Per Weekly Active User (ARPU) $3.83 $4.23 Monetization 2018 2019 $4.62 2020 ARPU shown above is calculated as total global revenue divided by the average total global weekly active users (WAU) in the period. WAU defined as the count of unique neighbors who have started a session or opened a content email over the trailing 7 days. Quarterly ARPU is annualized. $4.23 Q2 Update $3.97 $6.28 Q2 Q2 Q2 2019 2020 2021 33#34Strong foundation for continued revenue growth 49% 2018A-2022E Growth $51M 2018A +62% $83M 2019A Forward looking estimates are subject to change. Actual figures may be materially different. +49% $123M 2020A +44% $178M 2021E +40% $249M 2022E 34#35Sustainable growth; additional capital a potential accelerant Annual Summary 2020A $123M 49% Total Revenue % Growth Total ARPU % Growth Operating Expenses % of Total Revenue % Growth Net Loss Non-GAAP Operating Expenses ¹ 1 % of Total Revenue % Growth Adj. EBITDA % Margin Y/Y Margin Improvement 2019A $83M 62% $4.23 10% $158M 191% 70% $(73M) $141M 171% 66% $(59M) (71%) (3%) $4.62 9% $200M 162% 27% $(75M) $174M 141% 23% $(50M) (41%) 31% 2021E $178M 44% $5.93 28% $280M 158% 40% $(103M) $228M 128% 31% $(50M) (28%) 13% 2022E $249M 40% $6.47 9% $352M 142% 26% $(103M) $294M 118% 29% $(45M) (18%) 10% Current model does not assume additional capital Additional funding can significantly accelerate growth Long Term Target Margins: Adjusted EBITDA Margins of ~40% Forward looking estimates are subject to change. Actual figures may be materially different. For a reconciliation of non-GAAP financial measures to GAAP, see appendix. 1. Non-GAAP Operating Expenses includes cost of revenue, sales and marketing, research and development and general and administrative expenses, excluding depreciation and amortization, stock-based compensation and acquisition-related costs. 35#36Viral growth loops reinforce the strength of our model Increased Scale Improved unit economics, reinvestment for growth & product expansion 888 Improved advertiser retention & platform activity monetization FA Neighbors nextdoor M Public Agencies 82 51 Businesses Q 8 HIS! Increased reach & engagement Enhanced advertiser performance & additional revenue opportunities 36#37Key Dates & Next Steps August 12 September 20 Early November Post-close Analyst Day Investor Day Transaction close (est.) Q3 earnings 37#38Appendix LE PANIER DU CHEE JEAN LE PALAIS ST JEAN S JEAN bouchon lyonnais Saint-Paul Place du Change Place de la Baleine Mairie annexe du 5 Musée Gadagné#39Valuation 40% 2021E-2022E Revenue Growth 46% Nextdoor Snap 31% 23% 24% 23% 22% Pinterest Twitter Roblox Bumble Match 14.4x 2022E EV/Revenue 20.9x 11.2x 8.3x Source: Capital IQ. Market data and Thomson consensus estimates as of 8/10/2021. Assumes $3.6B Enterprise Value for Nextdoor, based on KVSB closing price of $10.14 as of 8/10/2021. 17.4x 12.1x Nextdoor Snap Pinterest Twitter Roblox Bumble 11.5x Match 2022E EV/Growth Adj. Revenue 0.36x 0.45x Nextdoor Snap Advertising Community Comps Comps 0.36x 0.36x 0.72x 39 0.53x 0.52x Twitter Pinterest Roblox Bumble Match#40Transaction Summary ($ in millions, except share price) Sources SPAC Cash in Trust (Assuming no Redemptions) PIPE Existing Equity Holders' Rollover Total Sources Uses Cash Proceeds to Nextdoor Equity Consideration to Existing Equity Holders Estimated Transaction Expenses Total Sources Notes: 1. 2. 3. 4. 5. 6. Assumes no shareholder redemptions. Assumes $10.00 price per share. $416 $270 $3,500 $4,186 $642 $3,500 $44 $4,186 Pro Forma Capitalization Share Price Total Shares Outstanding Equity Value Net Cash Enterprise Value Illustrative Pro Forma Ownership PIPE Investors (6.3%) Khosla (2.7%) SPAC Public Equity Holders (9.7%) Nextdoor Equity Holders (81.4%) $10.00 Transaction expenses are estimates. Pro Forma Ownership represents economic interest. Does not reflect 10:1 voting structure. Nextdoor equity holders will retain Class B shares with 10 votes per share. All other investors will hold Class A shares with one vote per share. 430 $4,301 $(756) $3,545 Assumes existing Nextdoor net cash on balance sheet of $114.0 million as of 6/30/21. Total shares include 350.0 million Nextdoor rollover shares, 41.6 million SPAC public shares, 27.0 million shares from PIPE and 11.5 million Khosla shares (including 1.1 million private placement shares and 10.4 million sponsor promote shares; excludes shares from Khosla investment in PIPE). 40#41Adjusted EBITDA Reconciliation Net Loss Depreciation and amortization Stock-based compensation Interest Provision for income taxes Acquisition-related costs Adjusted EBITDA 2019A $(73.3M) $2.1M 14.1M (2.5M) 0.2M 0.6M $(58.8M) 2020A $(75.2M) $3.1M 22.6M (0.7M) 0.1M $(50.2M) 41#42Non-GAAP Operating Expenses Reconciliation Operating Expenses Cost of revenue Sales and marketing Research and development General and administrative Total GAAP Operating Expenses (-) Depreciation and amortization (-) Stock-based compensation (-) Acquisition-related costs Non-GAAP Operating Expenses % of Total Revenue % Growth 2019A $13.7M 81.0M 42.6M 20.7M $158.0M ($2.1M) (14.1M) (0.6M) $141.2M 171% 66% 2020A $21.6M 80.3M 69.2M 28.8M $199.9M ($3.1M) (22.6M) 0.0M $174.2M 141% 23% 42#43Definitions Metrics U.S. Household Neighborhoods Verified Neighbors/Users Daily Active Users (DAU) Weekly Active Users (WAU) Monthly Active User (MAU) Engagement Neighbor retention Neighborhood penetration Local Business Claimed Pages Total Addressable Market (TAM) Definition A single (U.S.) residence containing at least one Current Verified Neighbor The number of active Launched (10+ member) neighborhoods. A "neighborhood" is a specific geographic area with a defined boundary. Neighborhoods do not overlap. The number of neighbors who are verified in a valid Launched (10+ member) or Pilot (< 10 member) neighborhood, and in good standing (i.e. not deleted, deactivated, or suspended.) Count of unique neighbors who have started a session or opened a content email on a given day Count of unique neighbors who have started a session or opened a content email over the trailing 7 days Count of unique neighbors who have started a session or opened a content email over the trailing 30 days Used to refer to neighbor activity - usually WAU unless otherwise specified 3 month MAU is defined as active in the 30 days preceding day 90, 6 month is active in the 30 days preceding day 180, 12 month is active in the 30 days preceding day 360, and 24-month is active in the 30 days preceding Shown for All-time Verified Neighbors joining in 2020. U.S. Households (see above) divided by the total number of Households (claimed or otherwise) in the neighborhood. Local business pages that have been claimed by a Nextdoor partner Digital advertising spend in the U.S. excluding B2B (not addressable by Nextdoor). Source: eMarketer 43