#1Q1 FY2022 Investor Presentation May 5, 2022 TREND PowerSchool#2Forward-Looking Statements Any statements made in this presentation that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including our financial outlook and descriptions of our business plan and strategies. Forward-looking statements are based on PowerSchool management's beliefs, as well as assumptions made by, and information currently available to, them. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will,” “should,” “can have," "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: potential effects on our business of the COVID-19 pandemic; our history of cumulative losses; competition; our ability to attract new customers on a cost-effective basis and the extent to which existing customers renew and upgrade their subscriptions; our ability to sustain and expand revenues, maintain profitability, and to effectively manage our anticipated growth; our ability to retain, hire and integrate skilled personnel including our senior management team; our ability to identify acquisition targets and to successfully integrate and operate acquired businesses; our ability to maintain and expand our strategic relationships with third parties, including with state and local government entities; the seasonality of our sales and customer growth; our reliance on third-party software and intellectual property licenses; our ability to obtain, maintain, protect and enforce intellectual property protection for our current and future solutions; and the impact of potential information technology or data security breaches or other cyber-attacks or other disruptions. Additional information concerning these and other risk factors can be found in our filings with the Securities and Exchange Commission. We caution you that the factors referenced above may not contain all of the factors that are important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our operations in the way we expect. All forward-looking statements reflect our beliefs and assumptions only as of the date of this presentation. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. PowerSchool 2#3● ● Q1 2022 Business Highlights Exceeded top end of revenue and profitability guidance range for the fourth consecutive quarter Continued cross-sell momentum with over 300 cross-sell transactions in Q1, including multiple transactions at state departments of education and top 5 districts by student enrollment Selected for multi-product deployments by two private school groups in the United Arab Emirates with combined student enrollments of 10k+ Released inaugural Environmental, Social and Governance (ESG) report PowerSchool 1 Unaudited Q1 2022 results 2 See reconciliation of non-GAAP measures included in this presentation Financial Snapshot¹ Total Revenue ($M) $118 1Q21 28% Adjusted EBITDA Margin² 66% Adjusted Gross Profit Margin² +27% YoY $150 1Q22 $43M 1Q22 Adj EBITDA² 87% Recurring Revenue 3#445M+ Students as PowerSchool Customers P PowerSchool The leading cloud software for K-12 education Comprehensive Vertical SaaS Solution 70%+ of All Students Reached in the U.S. and Canada G 14K+ School and District Organizations Mission-critical for Essential and Resilient K-12 Vertical $557M Annual Recurring Revenue (ARR)¹ $ Highly Predictable and Profitable Financial Profile A 1 ARR as of March 31, 2022. See definitions of key business metrics included in this presentation. 2 Adjusted EBITDA margin for the quarter ended March 31, 2022. See reconciliation of non-GAAP measures included in this presentation. 28% 1022 Adjusted EBITDA Margin² $ Multiple levers to Continue Double- Digit Revenue Growth 4#5PowerSchool Our mission is to power the education ecosystem with unified technology that helps educators and students realize their potential. 5#6SILVER 2021 STEVIE WINNER FOR SALES & CUSTOMER SERVICE Market Leader in K-12 SaaS Solutions Our Combination of Winning Strategies Extensive Distribution Engine Selling Across All States, Districts, Size, and Personas GOLD 2021 STEVIE WINNER AMERICAN BUSINESS AWARDS CX Innovators Awards. TECH& LEARNING AWARDS OF EXCELLENCE REMOTE LEARNING PowerSchool WINNER Well-Positioned to Capture Resilient, Large, and Growing Software and Personalized Learning Market Strong Growth Trajectory with Proven M&A Track Record to Drive Double Digit Growth EXCELLENCE IN //CODIE// CUSTOMER AWARD 21 2021 SIIA CODIE WINNER 20 LOTONSKA ***** 2021 GLOBEE AWARDS GRAND WINNER SALES AND SERVICE EXCELLENCE AWARDS WARD PROTEICADA Roge 2021 GLOBEE AWARDS GOLD WINNER SALES AND SERVICE EXCELLENCE AWARDS ***** TOATOARE 2021 GLOBEE AWARDS SILVER WINNER SALES AND SERVICE EXCELLENCE AWARDS Best-in-Class, Most Comprehensive Cloud Solution Improving Education Outcomes Highly Recurring, Predictable, Profitable, and Scalable Financial Profile ****** 2021 GLOBEE AWARDS BRONZE WINNER SALES AND SERVICE EXCELLENCE AWARDS THE EDTECH AWARDS COOL TOOL FINALIST 2021 THE EDTECH AWARDS LEADERSHIP WINNER 2021 THE EDTECH AWARDS COOL TOOL WINNER 2021 6#7Most Mission-Critical Suite for K-12 PowerSchool's Unified Platform drives workflows that are necessary for operating any K-12 organization SIS and Enrollment Grades, Attendance, Scheduling, Discipline, Health, and Federal & State Reporting Unified Classroom Schoology LMS/Classroom Instruction, Assessments, Special Programs Management Unified Home Student Portal, Parent Portal, Mobile Applications PowerSchool Unified Unified Insights™ Powered by Hoonuit Unified Administration PowerSchool Student Information Systems and Enrollment Unified Home™ TM Talent™ Unified Unified Communities Unified Administration Finance, HR, and Payroll (ERP) Unified Talent Job Board, Applicant Tracking, Employee Records, Substitute Management, Professional Learning, Staff Evaluation Unified Insights Student & Community Engagement, Predictive Early Warning/RTI, ESSA & Accountability, Finance & HR Insights Unified Communities Naviance/College and Career Exploration and Planning 7#8Serving as the K-12 System of Record, Engagement, and Intelligence System of Record s & Engagement Predictive Early Warning / RTI ESSA & Accountability System of Engagement & Engagement Predictive Early Warning/RTI ESSA & Accountability System of Intelligence a na Enrollment & Location Analytics Schoology Learning | Special Programs Performance Matters Assessment Class Finance | HR | Payroll Unified Administration PowerSchool Student Information Systems and Enrollment Unified Home Mobile Parent Portal Student Portal Unified Communities Vent Unified Insights Powered by Hoonult. pecruit Hire | Onboard absence Management Naviance (CCLR Framework) Job Board | Partnerships Develop PowerSchool Finance & HR Insights awa Community Eng Leading K-12 SIS provider in the United States Core hub for all student data from grades, attendance, health and enrollment Data powers everyday learning, teaching, and school operations + en on a Enrollment & Location Analytics Schoology Learning I Special Programs Performance Matters Assessme Unified classroom Finance | HR | Payroll Unified Administration Powerschool Student Information Systems and Enrollment Unified Home Mobile | Parent Portal Student Portal Talent Unified Unified Insights Powered by Hoonuit countability Finance & HR Insights in a na Enrollment & Location Analytics uit | Hire | Onboard | Develop Absence M ce Management Co Unified es Naviance (CCLR Framework) Job Board | Partnerships Community Engager Fosters collaboration and engagement between teachers, administrators, students and parents for better student outcomes Enables the powerful conversions of user and decision-making ecosystems 0 0 Student Analytics & Engagement Predictive Early Warning / RTI Schoology Learning Special Pro Performance Matters Assessmens Unified Classroom Finance | HR | Payroll Unified Administration PowerSchool Student Information Systems and Enrollment Unified Home™ Mobile | Parent Portal Student Portal Unified Insights Powered by Hoonult Talent Unified Recruit | Hire | Onboard | Develon ccountability Finance & HR Insights on tos Absence Connities Naviance (CCLR Framework) Job Board Partnerships gement Enables data-informed decision making to drive student and educator success Real-time insights with reporting tools and dashboards Predictive modeling and machine learning for personalized learning Community Engager Better Student Outcomes 8#9Well-Positioned to Drive Personalized Education Data and Engagement Enable Opportunity for Revolutionary Insights and Personalization 1:41 eria stions Teaching Tennessee: 6th Grade Math Lesson 1 ZKvw 6 months ago 90-53 Which angle can be created using two perpendicular lines? 45 Ⓒ180 O 90° 360° Next Machine learning-driven personalized assessment sent to student PowerSchool PERSONALIZATION PROFESSIONAL LEARNING Personalized Learning Learning gap identified and alerted teachers & parents INTERVENTION SIS INSTRUCTION ASSESSMENT COLLEGE & CAREER READINESS Systems of record & engagement identify opportunity to 'intervene' 9#10Leading Provider in the Competitive Landscape ~50% of new ARR¹ from opportunities with no competition, typically replacing: PowerSchool ● ● ● Pen & paper Spreadsheets Legacy systems 1 See definitions of key business metrics included in this presentation. Student Information System Classroom Talent Administration Insights College & Career Readiness PowerSchool Reach ~19M Students ~19M Students ~30M Students Customers in 48 States & Provinces 12 State Contracts 40% of High Schoolers TOP COMPETITORS Infinite Campus SKYWARDⓇ Edupoint INSTRUCTURE ... education_ .... tyler technologies illuminate education BrightBytes xello 10#11Serving Every Major Type of K-12 Organization 24 Public Schools of North Carolina State Board of Education Department of Public Instruction. LDOE Louisiana Department of EDUCATION tdsb Toronto District School Board Delaware Department of Education PowerSchool COUNTY A SCHOOL Excellence SAN DIEG HIGH Y SC ****** e since 1867 UNIFIED SCHOOL *** doon of Exellence OOLS198 DISTRICT SOUTH CAROLINA STATE DEPARTMENT OF EDUCATION Calgary Board of Education CHARTER SCHOOLS. USA SEATTLE PUBLIC SCHOOLS Jalalalalala DETROIT PUBLIC SCHOOLS COMMUNITY DISTRICT schools 大化 Plan Ceibal Uruguay Santa Clara County Office of Education M!! 14K+ school and district organizations Compliance reporting in 45 U.S. states and 5 Canadian provinces P Reaching over 45M students globally P 30 state-, province-, and territory-wide contracts across the U.S. and Canada PP P P : State-Level Agreement P P Contracts with over 90 of the 100 largest districts in the U.S. 11#12Significant Growth Opportunity with Clear Path to Multi-Billion Dollar Business 》}| Whitespace Cross-sell to existing customer base PowerSchool Greenfield Sell to districts not served by PowerSchool today M&A and Platform Expansion Continue to acquire and organically innovate into highly strategic adjacencies Personalized Learning AI/ML-based content recommendations for personalized learning paths International Expand into the international market representing most of the global population 12#13P PowerSchool Financial Highlights#14Financial Summary $149.6M 1Q22 Revenue (+27% YoY) $556.7M ARR² (+9% YoY) 28.5% 1Q22 Adj. EBITDA Margin¹ PowerSchool 1 2 $42.6M 1Q22 Adj. EBITDA¹ (+13% YoY) 106.7% Net Revenue Retention Rate² 66.1% 1Q22 Adj. Gross Margin¹ ● Strong topline performance driven by cross- sell momentum and strategic M&A • Maintained robust margin profile while investing in M&A and organic growth initiatives Sequential increase in NRR² highlights cross-sell success and product stickiness See reconciliation of non-GAAP measures included in this presentation. ARR and NRR as of March 31, 2022. See definitions of key business metrics included in this presentation. 14#15Revenue $ in millions $118 $13 $103 1Q21 27% Growth $150 PowerSchool $16 $130 1Q22 Subscriptions and support ■Service License and other 1 See definitions of key business metrics included in this presentation. ● Strong topline performance driven by cross- sell momentum and strategic M&A Maintained robust margin profile while investing in M&A and organic growth initiatives Sequential increase in NRR¹ highlights cross-sell success and product stickiness 15#16Adjusted EBITDA¹ $ in millions $38 31.9% Margin 1Q21 PowerSchool $43 28.5% Margin 1Q22 1 See reconciliation of non-GAAP measures included in this presentation. 2 See definitions of key business metrics included in this presentation. ● ● Strong topline performance driven by cross- sell momentum and strategic M&A Maintained robust margin profile while investing in M&A and organic growth initiatives Sequential increase in NRR² highlights cross-sell success and product stickiness 16#17Net Revenue Retention Rate¹ (NRR) Q4 2021 106.4% NRR PowerSchool 1 Q1 2022 106.7% NRR See definitions of key business metrics included in this presentation. Strong topline performance driven by cross- sell momentum and strategic M&A Maintained robust margin profile while investing in M&A and organic growth initiatives Sequential increase in NRR¹ highlights cross-sell success and product stickiness 17#182022 Outlook & Guidance As of May 5, 2022 Revenue Adj. EBITDA¹ Q2 2022 1 $154M to $156M $43M to $45M 28.4% margin at the midpoint Revenue Adj. EBITDA¹ FY 2022 $623M to $627M $182M to $186M 29.4% margin at the midpoint PowerSchool 18 Adjusted EBITDA, a non-GAAP financial measure was not reconciled to net income (loss), the most closely comparable GAAP financial measure because net income (loss) is not accessible on a forward-looking basis. The Company is unable to reconcile Adjusted EBITDA to net income (loss) without unreasonable efforts because the Company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact net income (loss) for these periods but would not impact Adjusted EBITDA. Such items include stock-based compensation charges, depreciation and amortization of capitalized software costs and acquired intangible assets, severance, and other items. The unavailable information could have a significant impact on net income (loss).#19P PowerSchool Appendix#20Definitions of Key Business Metrics Annualized Recurring Revenue (“ARR”) ARR represents the annualized value of all recurring contracts as of the end of the period. ARR mitigates fluctuations due to seasonality, contract term, one-time discounts given to help customers meet their budgetary and cash flow needs and the sales mix for recurring and non-recurring revenue. ARR does not have any standardized mea and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast, and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers. Net Revenue Retention Rate ("NRR") We believe that our ability to retain and grow recurring revenues from our existing customers over time strengthens the stability and predictability of our revenue base and is reflective of the value we deliver to them through upselling and cross selling our solution portfolio. We assess our performance in this area using a metric we refer to as Net Revenue Retention Rate. For the purposes of calculating NRR, we exclude from our calculation any changes in ARR attributable to Intersect customers, as this product is sold through our channel partnership with EAB and is pursuant to annual revenue minimums, therefore the business will not be managed based on NRR. We calculate our dollar- based NRR as of the end of a reporting period as follows: •Denominator. We measure ARR as of the last day of the prior year comparative reporting period. •Numerator. We measure ARR from renewed and new sale opportunities booked as of the last day of the current reporting period from customers with associated ARR as of the last day of the prior year comparative reporting period. The quotient obtained from this calculation is our dollar-based net revenue retention rate. Our NRR provides insight into the impact on current year recurring revenues of expanding adoption of our solutions by our existing customers during the current period. Our NRR is subject to adjustments for acquisitions, consolidations, spin-offs and other market activity. PowerSchool 20#21Non-GAAP Financial Measures In addition to our results determined in accordance with GAAP, we believe the following non-GAAP measures are useful in evaluating our operating performance. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly- titled non-GAAP measures used by other companies. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. Adjusted Gross Profit: Adjusted Gross Profit is a supplemental measure of operating performance that is not made under GAAP and that does not represent, and should not be considered as, an alternative to gross profit, as determined in accordance with GAAP. We define Adjusted Gross Profit as gross profit, adjusted for depreciation, share-based compensation expense and the related employer payroll tax, restructuring and acquisition- related expenses and amortization of acquired intangible assets and capitalized product development costs. We use Adjusted Gross Profit to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget, and to develop short-term and long-term operating plans. We believe that Adjusted Gross Profit is a useful measure to us and to our investors because it provides consistency and comparability with our past financial performance and between fiscal periods, as the metric generally eliminates the effects of the variability of depreciation, share-based compensation, restructuring expense, acquisition-related expenses, and amortization of acquired intangibles and capitalized product development costs from period to period, which may fluctuate for reasons unrelated to overall operating performance. We believe that the use of this measure enables us to more effectively evaluate our performance period-over-period and relative to our competitors. Adjusted Gross Profit Margin represents Adjusted Gross Profit as a percentage of revenue. Adjusted EBITDA: Adjusted EBITDA is a supplemental measure of operating performance that is not made under GAAP and that does not represent, and should not be considered as, an alternative to net income (loss), as determined by GAAP. We define Adjusted EBITDA as net (loss) income adjusted for net interest expense, depreciation and amortization, provision for (benefit from) income tax, share-based compensation expense and the related employer payroll tax, management fees, restructuring expense, and acquisition-related expense. We use Adjusted EBITDA to understand and evaluate our core operating performance and trends and to develop short-term and long-term operating plans. We believe that Adjusted EBITDA facilitates comparison of our operating performance on a consistent basis between periods and, when viewed in combination with our results prepared in accordance with GAAP, helps provide a broader picture of factors and trends affecting our results of operations. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of revenue. PowerSchool 21#22Non-GAAP Financial Measures These non-GAAP financial measures have their limitations as an analytical tool, and you should not consider them in isolation, or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, these non-GAAP financial measures should not be considered as a replacement for their respective comparable financial measures, as determined by GAAP, or as a measure of our profitability or liquidity. We compensate for these limitations by relying primarily on our GAAP results and using non-GAAP measures only for supplemental purposes. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure, see "Non-GAAP Reconciliations." PowerSchool 22#23Non-GAAP Reconciliations Adjusted Gross Profit (in thousands, except for percentages) Gross profit Depreciation Share-based compensation(¹) Restructuring(2) Acquisition-related expense (³) Amortization Adjusted Gross Profit Gross Profit Margin(4) Adjusted Gross Profit Margin(5) PowerSchool $ $ Three Months Ended March 31. 2022 81,615 275 2,167 973 200 13,685 $ 98,915 $ 54.6 % 66.1 % 2021 66,267 393 80 587 84 11,363 78,774 (1) Refers to expenses flowing through gross profit associated with share-based compensation. (2) Refers to expenses flowing through gross profit related to migration of customers from legacy to core products, and severance expense related to offshoring activities, facility closures and executive departures. (3) Refers to expenses flowing through gross profit incurred to execute and integrate acquisitions, including retention awards and severance for acquired employees. (4) Represents gross profit as a percentage of revenue. (5) Represents Adjusted Gross Profit as a percentage of revenue. 56.1 % 66.7 % 23#24Non-GAAP Reconciliations Adjusted EBITDA PowerSchool (in thousands) Net income (loss) Add: Amortization Depreciation Net interest expense(¹) Income tax expense (benefit) Share-based compensation Management fees(2) Restructuring (3) Acquisition-related expense(4) Adjusted EBITDA Net income (loss) margin Adjusted EBITDA margin(5) $ $ Three Months Ended March 31. 2022 (14,120) 28,654 1,264 7,022 4,538 12,395 84 145 2,628 42,610 (9.4)% 28.5% $ $ 2021 483 24,695 1,620 17,262 (15,659) 1,364 76 1,537 6,262 37,640 0.4% 31.9 % (1) Interest expense, net of interest income. (2) Refers to expense associated with collaboration with our principal stockholders and their internal consulting groups. (3) Refers to costs incurred related to migration of customers from legacy to core products, remaining lease obligations for abandoned facilities, severance expense related to offshoring activities, facility closures, and executive departures, and event cancellation fees related to the COVID-19 pandemic. (4) Refers to direct transaction and debt-related fees reflected in our acquisition costs line item of our income statement and incremental acquisition-related costs that are incurred to perform diligence, execute and integrate acquisitions, including retention awards and severance for acquired employees, and other transaction and integration expenses. These incremental costs are embedded in our research and development, selling, general and administrative and cost of revenue line items. (5) Represents Adjusted EBITDA as a percentage of revenue. 24