#1PROCORE Connecting Everyone in Construction on a Global Platform Ⓡ PROPRIETARY AND CONFIDENTIAL#2Disclaimer Statements in this presentation, including but not limited to those regarding the possible or assumed future or performance of Procore Technologies, Inc. ("Procore" or the "Company") or its industry or other trend projections, may constitute forward-looking statements. These statements include, but are not limited to, statements regarding the timing, anticipated size and terms of the proposed offering, the Company's expectations regarding the performance of its business, financial performance, liquidity and capital resources, its addressable market size and opportunity, the rate of adoption of technology in the construction industry, growth prospects, the Company's long-term model, and other non-historical statements. These statements can be identified by the use of words such as "believes", "anticipates", "expects", "intends", "plans", "continues", "estimates", "predicts", "projects", "forecasts", and similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of the Company, including those described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Registration Statement on Form S-1 (File No. 333-236789), as amended, filed with the U.S. Securities and Exchange Commission (the "SEC"). Such factors may cause actual results, performance, or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no assurance is given that such forward-looking statements will prove to have been correct. They speak only as of the date of this presentation, and except to the extent required by federal securities laws, the Company undertakes no obligation to update these forward-looking Statements. Certain information contained in this presentation and statements made orally during this presentation relate to or are based on studies, publications, surveys, and other data obtained from third-party sources and Procore's own internal estimates and research. While Procore believes these third-party studies, publications, surveys, and other data to be reliable as of the date of this presentation, it has not independently verified, and makes no representations as to the adequacy, fairness, accuracy, or completeness of, any information obtained from third-party sources. In addition, no independent source has evaluated the reasonableness or accuracy of Procore's internal estimates or research and no reliance should be made on any information or statements made in this presentation relating to or based on such internal estimates and research. All statements in this presentation attributable to Gartner represent Procore's interpretation of data, research opinion, or viewpoints published as part of a syndicated subscription service by Gartner, Inc., and have not been reviewed by Gartner. Each Gartner publication speaks as of its original publication date (and not as of the date of this presentation). Calculations were performed by Procore based on Gartner research. The opinions expressed in Gartner publications are not representations of fact and are subject to change without notice. This presentation includes "non-GAAP financial measures". These non-GAAP financial measures may not be comparable to similarly-titled measures presented by other companies or to third-party expectations, nor should they be construed as an alternative to other financial measures determined in accordance with GAAP. Refer to the Appendix for a reconciliation of those non-GAAP financial measures to the most directly comparable GAAP measures. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Sales and offers to sell our securities will only be made in accordance with the Securities Act of 1933, as amended, and applicable SEC regulations, including written prospectus requirements. We have filed a registration statement on Form S-1, as amended (including a preliminary prospectus) with the SEC for the offering to which this presentation relates. The registration statement has not yet become effective. Shares of our common stock may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. Before you invest, you should read the preliminary prospectus and the other documents we file with the SEC for more complete information about us and this offering. You can obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by e-mail at [email protected]; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood NY 11717, by telephone at (866) 803-9204 or by email at [email protected]. PROCORE® PROPRIETARY AND CONFIDENTIAL | 2#3$400M Revenue PROCORE A Leading Provider of Construction Management Software ANCIE 10,166 Total Customers $22M Operating Cash Flow $380M Cash Balance 300M+ Documents, Photos or Inspections Uploaded or Created 60% Customers Subscribe to 3+ Products 83% Non-GAAP Gross Margin 94% Gross Retention Notes: We define the number of customers at the end of a particular period as the number of entities that have entered into one or more subscriptions with us for which the term has not ended, or with which we are negotiating a subscription renewal. An entity with multiple subsidiaries, segments, or divisions is defined and counted as a single customer, even if we have separate subscriptions with multiple subsidiaries, segments, or divisions that are part of the same entity. We define annual recurring revenue ("ARR") at the end of a particular period as the annualized dollar value of our subscriptions from customers as of such period end date. For multi-year subscriptions, ARR at the end of a particular period is measured by using the stated contractual subscription fees as of the period end date on which ARR is measured. For example, if ARR is measured during the first year of a multiyear contract, the first year subscription fees are used to calculate ARR. ARR at the end of a particular period includes the annualized dollar value of subscriptions for which the term has not ended, and subscriptions for which we are negotiating a subscription renewal. ARR should be viewed independently of revenue and does not represent our generally accepted accounting principles ("GAAP") revenue on an annualized basis. ARR is not intended to be a replacement for or forecast of revenue. Non-GAAP gross margin is calculated as gross margin excluding stock-based compensation expense and amortization of acquired technology intangible assets. GAAP gross margin was 82% in 2020. See appendix for a reconciliation of non-GAAP measures to GAAP. All stats as of, or for the year ending, December 31, 2020. PROCORE® PROPRIETARY AND CONFIDENTIAL | 3#4$10T global construction spend in 2017 The Construction Industry Is Large and Growing ... 13% of global GDP in 2017 Sources: McKinsey (2017), USG Corporation and the U.S. Chamber of Commerce (2019). PROCORE 7% of global workforce in 2017 2.5T ft² $14T est. square footage of new construction in the next 40 years est. annual construction spend in 2025 PROPRIETARY AND CONFIDENTIAL 4#5INDUSTRY DIGITIZATION INDEX McKinsey&Company DIGITIZATION SCALE HIGH but Inefficient and in the Early Stages of Digitization 1% annual growth rate in construction labor productivity over the past two decades, less than half the cross-industry average of 2.8% LOW --- SECTORS Information & Communicatio Technology Media Professional Services Finance and Insurance $500B+ the cost of rework spent globally in 2018 of which 52% was caused by data/miscommunication poor Wholesale Trade Advanced Manufacturing CERDAS THE Oil & Gas Utilities Pharmaceuticals Chemicals & Basic Goods Manufacturing Mining Real Estate Transportation & Warehousing $1.6T potential to add $1.6T of global GDP annually from productivity gains Education Retail Trade Sources: McKinsey Global Institute, Reinventing Construction (2017), McKinsey Global Institute, Imagining Construction's Digital Future (2016), Gartner, Forecast: 1Q21 Update, March 2021 (Used to obtain total IT spend across all industries), FMI Industry Report: Construction Disconnected (2018). The total cost of rework globally in 2018 was $538B. HELLE PROCORE Entertainment & Recreation Personal & Local Services Government Construction er Enterprise IT Spending by Vertical Industry Market, Worldwide, 2019-2025, Agriculture & Hunting PROPRIETARY AND CONFIDENTIAL | 5#6Construction Ecosystem is Highly Complex ... "mm Ha 2 > H H PROCORE® Q COTR G G O Custom/ CEN 3 42 5 G ↑ Q G Prototype Business MATERIAL SUPPLIER ARCHITECT ENGINEER SPECIALTY CONTRACTOR SPECIALTY CONTRACTOR Complex Stakeholder Dynamics OWNER GENERAL CONTRACTOR SPECIALTY CONTRACTOR SPECIALTY CONTRACTOR FINANCIER SPECIALTY CONTRACTOR SPECIALTY CONTRACTOR INSURER EQUIPMENT SUPPLIER Mobile and Decentralized Workforce ↑ > H- T 2 2 2 2 2 3 • G WE G O Q Q û Constant Change PROPRIETARY AND CONFIDENTIAL | 6#7... and Change Orders Illustrate this Complexity OWNER GENERAL CONTRACTOR SPECIALTY CONTRACTOR ARCHITECT/ ENGINEER PROCORE® STOP Identify Issue Draft Request for Information Create Request for Quote Create and Validate New Design PROGRESS IN THE FIELD Prepare Estimate Review Change Order Make Decision 2 Revise Budget and Schedule Release SC to Work on Change GO GC Bills Owner Order Materials GC 1 SC Bills PROPRIETARY AND CONFIDENTIAL | 7#8IT Legacy Approaches are Part of the Problem Limited mobility PROCOREⓇ Incomplete on-premise solutions Sources: ¹ McKinsey Global Institute, Imagining Construction's Digital Future (2016). ||||||||| ******* Paper and manual processes The typical large non-residential construction project runs 80% over budget and 20 months behind schedule.¹ Point solutions PROPRIETARY AND CONFIDENTIAL | 8#9COVID Impacted Our Industry Procore Led Through the Pandemic 9% I 78% decline in total U.S. construction starts from 2019 to 2020 of general contractors reported having a project delayed or disrupted Sources: Associated General Contractors of America (2020), Dodge Data & Analytics (2020), American Institute of Architects (2020). PROCOREⓇ CATERPILLAR "Procore has equipped Monterey Mechanical for the future. We not only survived, we thrived during the COVID-19 pandemic while partnering with them... Procore is a life saver as we adapt to changing COVID-19 workplace requirements." & GRADING ED MOORE, DIVISION MANAGER AT MONTEREY MECHANICAL EXCAVATING CHAEL BROS. BOB GARDNER, FOUNDER AND CEO AT GARDNER BUILDERS Weston, Ont. &xcorating & Grading Ltd. CAT "We live in Procore every day. If we didn't have the Procore platform and Procore customer support, there's zero chance we would have won new projects in 2020." PROPRIETARY AND CONFIDENTIAL | 9#10We Believe COVID Accelerates the Catalysts Driving Construction into the Digital Age D₁ X Widespread Mobile Accessibility Labor Shortage Necessitates Increased Productivity Increasing Regulatory & Contractual Complexities Data is Underutilized COVID Accelerates Our Industry's Digitization + + ~93% ~211K ~11x ~96% of construction workers surveyed use a smartphone every day¹ unfilled U.S. construction jobs² construction-related regulations, up from 463 in 1970 to 5,198 in 2017 of all data goes unused in the engineering and construction industry³ of respondents believe that COVID-19 will accelerate industry transformation4 ~2/3 Notes: ¹ Based on JBKnowledge 2018 estimate. 2 Based on Bureau of Labor Statistics estimate for December 2020. ³ Based on FMI 2018 estimate. 4 Based on a May 2020 McKinsey survey of 100 C-level construction executives. Sources: JBKnowledge (2018), USG Corporation and U.S. Chamber of Commerce (2019), U.S. Bureau of Labor Statistics (2020), McKinsey Global Institute (2019), FMI Industry Report: Construction Disconnected (2018), McKinsey (2020). PROCORE® PROPRIETARY AND CONFIDENTIAL | 10#11Complete Procore is Three Things Construction Platform PROCORE® Our mission is to connect everyone in construction on a global platform. LLL LLLLL Business Model Designed for the Industry Construction-centric GTM, pricing and unlimited user model. Dedicated Partner to the Construction Community We live and breathe construction and put our customers first. PROPRIETARY AND CONFIDENTIAL | 11#12+ + 100% Focus on Construction Reflected in our Business Model ++ UNLIMITED USER MODEL No per-seat or per-user fee, so customers can invite all project participants to our platform Encourages rapid, widespread adoption of our products and captures project information VOLUME-BASED SUBSCRIPTION PRICING + Subscription basis for a fixed fee with pricing based on: + Number and mix of products + Annual construction volume contracted on our platform Annual or multi-year terms + PROPRIETARY AND CONFIDENTIAL | 12#13Benefits to Our Core Customer Stakeholders Owners MICHAEL TURNER | Oxford Properties Group Creating value across a portfolio of investments. PROCORE® HISKY HUSKY General Contractors JIM RUBEL | Summit Design + Build SUMMIT DESIG Delivering projects on time and on budget. 9 Dolan Concrete Specialty Contractors NORMA GOMEZ | Dolan Concrete Getting labor, equipment, and materials in the right place at the right time. PROPRIETARY AND CONFIDENTIAL | 13#14TOP-DOWN Massive Market Opportunity: Two Approaches Total number of Organizations4 $10T Annual worldwide Construction revenue¹ * 1.7% % of construction revenue spent on IT solutions² * 7.3% % of IT spend on application software³ ENTERPRISE Total Addressable Market O MID-MARKET Our median annual recurring revenue5 SMALL BUSINESS $12.4B $9.4B Sources: McKinsey (2017), Deloitte (2020), Gartner (2021), Frost & Sullivan (2021). ¹ Based on McKinsey estimate for total 2017 annual worldwide construction revenue. 2 Percent of construction revenue spent on IT solutions based on Deloitte estimates for 2018. ³ Percent of IT spend on application software reflects Gartner estimate for 2020 percentage across all industries. Calculations were performed by Procore based on Gartner research. 4 Frost & Sullivan estimate of owners, general contractors, and specialty contractors within geographies where we currently have focused sales and marketing efforts, including the United States, Canada, Mexico, the United Kingdom, Ireland, Australia, New Zealand, Singapore, and the United Arab Emirates. 5 Various total number of organizations figures based on type, size, and geography multiplied by median ARR for each respective segment. Based on internal 2020 data and excludes general contractors and specialty contractors with annual revenues <$2.5 million and owners with <$2.5 million in annual construction spend. PROCORE® BOTTOMS-UP Total Addressable Market PROPRIETARY AND CONFIDENTIAL | 14#15Early Innings of Market Penetration 2% of logos in Procore's addressable markets captured 43% of Procore customers subscribed to 4+ products out of 13 Note: Logo capture rate reflects our customer count as of December 31, 2020 as a percentage of the total number of logos in Procore's addressable markets as estimated by Frost & Sullivan market research, where the number of customers is defined as the number of entities that have entered into one or more subscriptions with us for which the term has not ended as of December 31, 2020, or with which we are negotiating a subscription renewal. See appendix for definition of customer count. PROCORE® PROPRIETARY AND CONFIDENTIAL | 15#16The Construction Management Platform PRECONSTRUCTION Prequalification Bid Management Estimating UI CUSTOMIZATION PROCORE® PROJECT MANAGEMENT Project Management ZQuality & Safety Design Coordination BIM PROCORE APP MARKETPLACE PROCORE ANALYTICS RESOURCE MANAGEMENT PROCORE PLATFORM BUSINESS LOGIC DATA Field Productivity SECURE & TRUSTED MULTI-ZONE CLOUD INFRASTRUCTURE FINANCIAL MANAGEMENT Project Financials Invoice Management + Portfolio Financials Accounting Integrations 5 COLLABORATION PROPRIETARY AND CONFIDENTIAL | 16#17160+ Average Number of Users Brought onto Our Platform by Each Customer 5,500+ Terabytes of Data Generated by User Activity 224+ Terabytes of Data Generated per Month by Users on Average Driving Powerful Network Effects MORE USERS MORE PROJECTS MORE DATA Note: Total terabytes of cumulative data generated by user activity as of December 31, 2020. All other metrics reflect fiscal year 2020. PROCORE® GREATER VALUE FOR CUSTOMERS MORE CUSTOMERS Bidding Performance Quality Materials Cost Safety Workflows Supplier PROPRIETARY AND CONFIDENTIAL | 17#18PROCORE™ APP MARKETPLACE Free API access for customers and developers 250+ third-party applications available 80%+ of customers use at least one integration 60%+ of customers use two or more integrations Note: All statistics as of December 31, 2020. PROCORE® ACCOUNTING sage xero NETSUITE ComputerEase Software for Contractors qbquickbooks. mri REAL ESTATE SOFTWARE DOCUMENT MANAGEMENT 3607 Sync BLUEBEAM NEWFORMA. HingePoint. EGN TE LEGAL & COMPLIANCE DocuSign... mycoi LEVELSET @claimant™ built ANALYTICS Power BI ACUITE truction intelligence El Dynamics PRONOVOS DOMO DRONES 7) DroneDeploy THANGAR (Q) Botlink SITEAWARE REALITY CAPTURE & PROGRESS STRUCTIONSITE OPENSPACE EarthCam Webcam Technology MULTIVISTA HOLO BUILDER BIDDING pipeline Suite SMARTBID™ ONETEAM > iSqFt ESTIMATING & TAKEOFF bidbox ProEst E ESTIMATOR STACK QUALITY & SAFETY RAKEN SMARTVID.IO buildup VERITY FTQ360 NA BIM CLASH BIMtrace revizto Cintoo FIELD COMMS 11 comax GO OM voxer FieldChat Push-to-Talk by VoiceLayer RESOURCE MANAGEMENT HILTI ON! Track bridgit VOYAGE CONTROL CRM TopBuilder SOLUTIONS COSENTIAL uCOREM salesforce FIELD PRODUCTIVITY K eyrus [D) triax FC Services Construction SCHEDULING ORACLE PRIMAVERA P6 SmartPM™ P Project ProjectControls .online Powerproject DEVICES Leica Geosystems VOLANTI DISPLAYS Milwaukee iPlanTables.com BOSCH IT workato Microsoft Azure jamf NOW okta zapier DELL) Boomi SITE CAMERAS & IOT SITE DATA GIATEC tomorrow.io Weather Build Ox Blue TRUELOOK PROPRIETARY AND CONFIDENTIAL | 18#19BIManywhere Take BIM anywhere, in the office or in the field 2018 Note: BIM refers to Building Information Management. PROCOREⓇ Targeted Acquisitions HONEST BUILDINGS Accelerate our entry into the owners market 2019 DDDD ConstructionBI Offer analytics and reporting to our customers EESTICOM Add takeoff and estimating functionality to our platform 2020 Avata INTELLIGENCE Bolster our data and Al strategy and capabilities INDUS.AI CONSTRUCTION INTELLIGENCE Expand Al capabilities to include computer vision ML 2021 PROPRIETARY AND CONFIDENTIAL | 19#20GTM by Region, Stakeholder, and Segment Tailored for the Industry UNITED STATES PROCORE® CANADA MEXICO UNITED KINGDOM AUSTRALIA SINGAPORE UNITED ARAB EMIRATES X GENERAL CONTRACTOR OWNER SPECIALTY CONTRACTOR X SMALL BUSINESS MID-MARKET AMP ENTERPRISE PROPRIETARY AND CONFIDENTIAL | 20#21Greenfield Competitive Landscape: Industry is Mostly Greenfield + Spreadsheets & word docs + Legacy & in-house solutions + Pen, paper & fax PROCORE® An Industry in the Early Phases of Technology Adoption Aggregated construction management tools Accounting software vendors Point solution software vendors PROPRIETARY AND CONFIDENTIAL | 21#22PROCORE® Dolan Concrete Our Strong Market Differentiation DOLAN CONCRETE QUALITY VALUE INTEGRITY Sole focus on construction 100% cloud-native Trusted industry technology brand Industry data leads to system of record Comprehensive and integrated platform Easy-to-use mobile application Excellent customer success and support Unlimited user model PROPRIETARY AND CONFIDENTIAL | 22#23Driving Powerful Customer ROI 84% Surveyed reported better visibility into the health of their projects 71% Surveyed reported greater confidence in beating profit goals Sources: Company survey of customers titled "Unlocking the ROI of Construction Technology" conducted in 2021. PROCORE 29% Manage more construction volume PROPRIETARY AND CONFIDENTIAL 23#24ANANDA DEVELOPMENT Boston Children's Hospital Until every child is well FLUENCE A Siemens and AES Company Seasons RETIREMENT COMMUNITIES olx/Florid OWNERS PROCOREⓇ the NRP group ESTERA WEE ITY Notes: All statistics as of December 31, 2020. REC NASA UC San Diego HEALTH SYSTEM Empowering the Industry eNGie M metro Beverly Hills Unified School District 10,000+ Total Customers F) Tyson the Wonderful company GENERAL CONTRACTORS Balfour Beatty BECK DAC Del Amo Construction WIELAND Hathaway Dinwiddie H HAYDON Turner HITT I.T. Magen & Company Inc. EARTH BOUND -HOMES - MDC RYAN SHAPE Suffolk KITCHELL 125+ Countries with Procore Projects SPECIALTY CONTRACTORS ARDMAC Building Better CAHIS TRIO ELECTRIC A THERMA FESSLER BOWMAN PRECISION WALLS, INC Partners in driving your job McCarter McKinstry For The Life Of Your Building MONTEREY MECHANICAL & INDUSTRIAL CONSTRUCTION MIT FABRICATION WILLIAMS PLUMBING US U.S. ENGINEERING OH! ALFRENCH CAVATING CO WHITAKER WE ELLIS 800+ Customers >$100K ARR PROPRIETARY AND CONFIDENTIAL | 24#25RYAN Ryan PROCORE Companies FFL 72 Quality & Safety 5 Project Management Pro 2015 +30x Analytics BIM % Project Financials Invoice Management Design Coordination 72 Quality & Safety Project Management Pro 2021 RYAN COMPANIES OVERVIEW + 2020 ENR Top 50 Enterprise General Contractor (No. 42) +>$3B in Annual Construction Volume + In 2020 added 50 new projects on our platform each month on average + Key priorities: health and safety, compliance, risk identification, more informed project decisions THE CHALLENGE Ryan Companies needed to keep jobsites running during COVID-19 and monitor their projects' health. HARNESSING PROCORE PLATFORM DATA FOR INSIGHTS First adopted Procore solutions in 2015 and by 2021 grew their subscription by over 30 times + Use our platform company-wide for construction project management + Assess and manage the pandemic's impact through COVID-19 dashboards + Use our platform to keep hundreds of jobsites running through COVID-19 pandemic + Use our forecasting features to facilitate proactive conversations with owners and subcontractors about potential costs and project risks + Rapid training of 1,000+ employees on changing COVID-19 protocols through our virtual Training Center PROPRIETARY AND CONFIDENTIAL | 25#26EMPOWERING OUR PARTNERS 500+ Partnerships with Non-Profits, Universities, K-12, and Trade Unions Habitat for Humanity TEAM RUBICON AKSHAYA PATRA Unlimited food for education PROCORE.ORG TRAINING FUTURE BUILDERS 85% of Accredited Construction Management Programs Teach the Procore Platform CAL POLY TAT AUBURN UNIVERSITY UF FLORIDA EDUCATING THE COMMUNITY 170+ On-Demand Courses Online and Training and Networking Events G GROUND BREAK WOMEN IN CONSTRUCTION PROCORE COMMUNITY Source: American Council for Construction Education. Notes: In the U.S., Procore is used in 77/91 (84.6%) of accredited construction management programs, as recognized by the ACCE. This includes associates, bachelors, and masters programs. All statistics as of December 31, 2020. PROCORE PROPRIETARY AND CONFIDENTIAL | 26#27ANI ABRAHAMIAN SVP Software Engineering TOOEY COURTEMANCHE Founder, President & CEO CAROLYN MELLOR SVP Revenue Operations PROCOREⓇ Experienced Leadership DENNIS LYANDRES Chief Revenue Officer WYATT JENKINS SVP Product PAUL LYANDRES Chief Financial Officer STEVE ZAHM President Chief Culture Officer V SAM CRIGMAN Chief Technology Officer SANDY HOFFMAN VP Diversity, Inclusion & Belonging MICHAEL HANSON Chief Information Officer GABRIEL MILLER-SMITH SVP Customer Success PAT WADORS Chief Talent Officer BEN SINGER Chief Legal Officer BILL FLEMING SVP Corporate Controller PROPRIETARY AND CONFIDENTIAL | 27#28PROCORE 01 02 03 04 05 1.40 ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Financial Highlights NIELS Strong revenue growth at scale, underpinned by highly efficient and resilient business model Large, diverse, and growing customer base Strong customer retention rates Impressive gross margin Proven operating leverage W PROPRIETARY AND CONFIDENTIAL | 28#29$92M Revenue $97M $102M $110M Growth at Scale +23% $114M Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 6,095 2018 8,506 2019 Customers +20% 10,166 2020 10,668 Q1-21 Notes: Total customers is defined as the number of entities that have entered into one or more subscriptions with us for which the term has not ended as of year-end or quarter-end, or with which we are negotiating a subscription renewal. PROCORE® PROPRIETARY AND CONFIDENTIAL | 29#30121% Pre-COVID trend of greater enterprise wins with larger ARR "lands" FY-18 Net Retention 117% Retention Rates FY-19 Net Retention 107% FY-20 COVID impacts 94% FY-18 Gross Retention 95% 94% FY-19 Gross Retention FY-20 Resilient through COVID Notes: Net retention reflects the ARR from the cohort of active customers at the end of the period 12 months prior to the end of the period selected, compared to the ARR from the same cohort of customers at the end of the current period selected, giving effect to expansion, contraction, or churn from this group of customers over the 12 months preceding the end of the period selected. Gross retention reflects the ARR from the cohort of active customers at the end of the period 12 months prior to the end of the period selected, compared to the ARR from any customers whose subscriptions terminated and were not renewed during the 12 months preceding the end of the period selected, which we refer to as churn. PROCORE® PROPRIETARY AND CONFIDENTIAL | 30#3180% Gross Margin As % of Revenue FY-18 83% 83% 84% Demonstrated Leverage FY-19 FY-20 Q1-21 Non-GAAP Gross Margin Operating Expenses As % of Revenue 59% 29% 18% FY-18 57% 28% 19% S&M FY-19 43% 27% 14% R&D 44% 27% 13% FY-20 Q1-21 G&A (11%) (25%) Operating Margins As % of Revenue (2%) (21%) 5% (1%) FY-18 FY-19 FY-20 Non-GAAP Op Margin ...... 25% (1%) Q1-21 OCF Margin Notes: All financial figures are non-GAAP. Shows fiscal year, non-GAAP gross margin, non-GAAP Sales & Marketing, Research & Development, and General & Administrative expenses as a % of revenue, and non-GAAP operating loss and operating cash flow ("OCF") as a % of revenue. Non-GAAP gross margin is calculated as gross margin excluding stock-based compensation expense and amortization of acquired technology intangible assets. GAAP gross margin was 80%, 82%, and 82% in fiscal year 2018, 2019, and 2020, respectively and 82% in Q1 of 2021. Non-GAAP operating expenses and operating margin are calculated as operating expenses and operating margin excluding stock-based compensation expense and amortization of acquired technology intangible assets. GAAP S&M operating expenses as a % of revenue were 60%, 60%, and 47% in fiscal year 2018, 2019, and 2020, respectively and 47% in Q1 of 2021. GAAP R&D operating expenses as a % of revenue were 30%, 30%, and 31% in fiscal year 2018, 2019, and 2020, respectively and 30% in Q1 of 2021. GAAP G&A operating expenses as a % of revenue were 19%, 20%, and 18% in fiscal year 2018, 2019, and 2020, respectively and 16% in Q1 of 2021. GAAP operating margin as a % of revenue was (30)%, (29) %, and (15) % in fiscal year 2018, 2019, and 2020, respectively and (11) % in Q1 of 2021. PROCORE PROPRIETARY AND CONFIDENTIAL | 31#32Planned Levers for Continued Growth Acquire New Customers -98% of market in current countries untapped based on logo penetration Expand Spend With Customers Through construction volume growth and further product adoption of Expand Internationally Operating in select countries today with intentions to expand Pursue Targeted Acquisitions App Marketplace and broader ecosystem provide compelling opportunities PROPRIETARY AND CONFIDENTIAL | 32#33Non-GAAP Measures FY-18 Gross Margin S&M PROCORE Long Term Financial Profile R&D G&A Operating Margin 80% 59% 29% 18% (25%) W FY-19 83% 57% 28% 19% (21%) FY-20 83% 43% 27% 14% (1%) Target% of Revenue 82-84% 28-30% 18-20% 10-12% 20-25% PROPRIETARY AND CONFIDENTIAL | 33#34Appendix IRWIN STRUTLINE PROCORE LIDOW PERL 13111 PROPRIETARY AND CONFIDENTIAL | 34#35References and Definitions CUSTOMERS AND ARR We define the number of customers at the end of a particular period as the number of entities that have entered into one or more subscriptions with us for which the term has not ended, or with which we are negotiating a subscription renewal. An entity with multiple subsidiaries, segments, or divisions, is defined and counted as a single customer, even if we have separate subscriptions with multiple subsidiaries, segments, or divisions that are part of the same entity. We define ARR at year-end as the annualized dollar value of our subscriptions from customers as of such period end date. RETENTION RATES To calculate our net retention rate at the end of a particular period, we first calculate the ARR from the cohort of active customers at the end of the period 12 months prior to the end of the period selected. We then calculate the value of ARR from the same cohort of customers at the end of the current period selected, giving effect to expansion, contraction, or churn from this group of customers over the 12 months preceding the end of the period selected. We then divide (a) the total current period ARR by (b) the total prior period ARR to calculate the net retention rate. To calculate our gross retention rate at the end of a particular period, we first calculate the ARR from the cohort of active customers at the end of the period 12 months prior to the end of the period selected. We then calculate the value of ARR from any customers whose subscriptions terminated and were not renewed during the 12 months preceding the end of the period selected, which we refer to as churn. We then divide (a) the total prior period ARR minus churn by (b) the total prior period ARR to calculate gross retention rate. PROCORE® PROPRIETARY AND CONFIDENTIAL | 35#36References and Definitions 2021 PROCORE ROI SURVEY Certain statistical information is based on a 2021 survey of our customers' employees. According to the survey, our customers report improved efficiency across many critical project workflows and tasks, which helps customers save time. These workflows include RFIS, Submittals, Punch Lists and Daily Logs, among others. TOTAL ADDRESSABLE MARKET McKinsey estimates that annual worldwide construction spend in 2017 was approximately $10T. In our top down TAM calculation, we multiply that figure by Deloitte's 2018 estimate that 1.7% of worldwide construction revenue was spent on IT solutions, and Gartner's estimate that in 2020 application software spending represented 7.3% of total IT spend, to derive an estimated $12.4B market opportunity. Each publication speaks as of its original publication date and not as of the date of this roadshow presentation. We calculate our market opportunity from a bottom-up perspective by multiplying the number of total owner, general contractor, and specialty contractor companies in our addressable geographies estimated in a February 2020 Frost & Sullivan study we commissioned by our median ARR as of December 31, 2020 for each of three company size categories (enterprise, mid-market, and small business). We exclude general contractors and specialty contractors with annual revenues of less than $2.5 million and owners with less than $2.5 million in annual construction spend from our addressable market estimates given we do not actively market to those organizations and limit our estimate to only those geographies in which we currently have focused sales and marketing efforts (the United States, Canada, Mexico, the United Kingdom, Ireland, Australia, New Zealand, Singapore, and the United Arab Emirates). Based on Frost & Sullivan's estimate of the total number of our total addressable logos and the number of customers we had as of December 31, 2020, we estimate that on a logo basis we have captured approximately 2% of our addressable market, that is, a 2% market share of our current addressable logos. PROCORE® PROPRIETARY AND CONFIDENTIAL | 36#37GAAP to Non-GAAP Reconciliation $ in Millions Revenue GAAP Gross Profit Add: Stock-based compensation expense Add: Amortization of acquired technology Add: Restructuring related charges Non-GAAP Gross Profit Non-GAAP Gross Profit Margin GAAP S&M Expense Less: Stock-based compensation expense Less: Amortization of other acquired intangible assets Less: Restructuring related charges Non-GAAP S&M Expense Non-GAAP S&M Expense as a % of Revenue GAAP R&D Expense Less: Stock-based compensation expense Less: Amortization of other acquired intangible assets Less: Restructuring related charges Non-GAAP R&D Expense Non-GAAP R&D Expense as a % of Revenue GAAP G&A Expense Less: Stock-based compensation expense Less: Restructuring related charges Non-GAAP G&A Expense Non-GAAP G&A Expense as a % of Revenue GAAP Operating Profit Add: Stock-based compensation expense Add: Amortization of acquired technology Add: Amortization of acquired customer relationships Add: Restructuring related charges Non-GAAP Operating Profit Non-GAAP Operating Margin Notes: Fiscal year ends on December 31 of each respective year. Numbers may not foot due to rounding. PROCORE® FY 2018 $186.4 $149.0 0.6 0.2 $149.8 80% $112.7 2.8 $109.9 59% $56.0 2.4 $53.6 29% $35.4 1.8 $33.6 18% $(55.0) 7.5 0.2 $(47.3) (25)% FY 2019 $289.2 $236.0 1.1 1.7 $238.8 83% $173.5 7.5 0.7 $165.3 57% $87.0 6.6 $80.4 28% $58.1 4.0 $54.1 19% $(82.6) 19.2 1.7 0.7 $(61.0) (21)% FY 2020 $400.3 $328.6 1.8 3.3 0.1 $333.8 83% $189.0 13.4 1.7 1.8 $172.1 43% $124.6 12.9 0.7 1.7 $109.3 27% $73.5 15.9 0.8 $56.8 14% $(58.5) 44.0 3.3 2.4 4.4 $(4.4) (1)% Q1 2021 $113.9 $93.6 1.2 1.1 $95.8 84% $54.0 3.3 0.5 $50.2 44% $34.5 3.2 0.2 $31.1 27% $17.9 2.6 $15.3 13% $(12.9) 10.3 1.1 0.7 $(0.8) (1)% PROPRIETARY AND CONFIDENTIAL | 37#38Net cash flow used in operating activities Less: Purchases of property and equipment Less: Capitalized software development costs Free Cash Flow Free Cash Flow Margin Free Cash Flow Bridge $(21.1) 13.7 8.1 $(42.9) (23)% Notes: Fiscal year ends on December 31 of each respective year. Numbers may not foot due to rounding. PROCORE® $(7.0) 13.1 14.9 $(35.0) (12)% $21.9 7.2 11.8 $2.9 1% $28.3 2.4 2.2 $23.7 21% PROPRIETARY AND CONFIDENTIAL | 38