#1Investor Presentation December 2021 SEMRUSH#2Safe harbor This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 relating to our business, operations, and financial conditions, including but not limited to current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, our product development plans, and other future conditions. Words such as, but not limited to, "look forward to," "believe," "expect," "anticipate," "estimate," "intend," "plan," "would," "should" and "could," and similar expressions or words, identify forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Certain information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. 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 we believe our own internal research is reliable, such research has not been verified by any independent source. This presentation includes non-GAAP financial measures which have certain limitations and should not be considered in isolation, or as alternatives to or substitutes for, financial measures determined in accordance with generally accepted accounting principles in the United States ("GAAP"). The non-GAAP measures as defined by us may not be comparable to similar non-GAAP measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by these or other unusual or non-recurring items. See the "GAAP to Non-GAAP Reconciliation" slide for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures. This presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective ers. 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 we 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. 2#3Semrush in numbers 146 Countries Served 1000+ Employees, Offices in over 5 Countries 79k+ Paying Customers Unless otherwise indicated, all statistics are as of September 30, 2021 * CAGR December 31, 2016 December 31, 2021 on mid-point of guidance ** We define ARR as the daily revenue of all paid subscription agreements, that are actively generating revenue as of the last day of the reporting period multiplied by 365. As of September 30, 2021 *** Year to date as of 9/30/21 Favorable CAC 50%+ Revenue CAGR* 77% Gross Margin 124% Net Revenue Retention Rate $198m+ ARR** 12.5% FCF Margin** ***#4With information overload it is increasingly hard for businesses to reach customers online#5Average consumer already spends 6.5 hours a day online and is overwhelmed with information status update new video new post +400m +4m blog posts created Facebook status updates Day at a glance +721k +50bn Facebook and Google Search ads hours of video uploaded to Youtube +6bn Google searches Information barrier gets bigger every day 20 Businesses are struggling to break through information noise and be visible online LO 5#6Market opportunity* Total Global Businesses X Online Penetration X Avg. Revenue per Customer Current Global Opportunity ~$13bn -$150mln Enterprise Future Global opportunity $20bn+ *We estimate our global opportunity based on the number of small and medium sized companies (those with less than 500 employees) and large companies (those with 500 or more employees) in the U.S per the U.S. Census Bureau. As of December 31, 2020, approximately 95% of our customers are in the small and medium sized category and had an ARR per paying customer of $2,000, while our large enterprise customers had an ARR per paying customer of $4,200. We believe the opportunity internationally is at least as large as in the U.S. We assume 50% online penetration in the small company segment (those with less than 20 employees) and 100% penetration in the medium sized (those with between 20 and 499 employees) and large company segments. 6#7Empowering Online Visibility Management Online Visibility across key channels Marketing funnel Source: G2.com SEO | Digital Advertising SEMRUSH Digital PR | Awareness Interaction Engagement Conversion Loyalty Content Marketing Feedback | SEM SMM Online Visibility Management Web Analytics Digital Experience CRM Google Analytics Surveys Adobe Analytics ON24 Optimizely sprinklr Hubspot salesforce Email Marketing and Social Media Management Hubspot SurveyMonkey sproutsocial Qualtrics CoreXM™ 7#8Customers of all sizes and from all verticals Headcount 50-500 500-1K 1K-5K 5K+ Retail lyst boohoo The Real Real ebay Consumer internet Arkadium Finance Quora smartasset™ Agencies BNP PARIBAS acronym Software dentsu AEGIS network ◆pendo Other BREX VAYNERMEDIA mailchimp Skyscanner TransferWise iProspect HubSpot Time Inc. f Disney salesforce α Seeking Alpha The Washington Post 8#9Meet our team SEMRUSH OSEMRUSH OLEG SHCHEGOLEV Co-founder and CEO Experienced serial entrepreneur 13 years VITALII OBISHCHENKO Chief Product Officer Experienced entrepreneur and developer 11 years EVGENY FETISOV CFO Former CFO at Luxoft (NYSE: LXFT) and Moscow Exchange (MOEX: RM) 2 years SEMRUSH DMITRY MELNIKOV Co-founder and COO Experienced serial entrepreneur 13 years EUGENE LEVIN Chief Strategy Officer Experienced entrepreneur and investor. Former partner at Target Global 6 years SHARON LEVINE SVP and General Counsel Former VP and GC at Nasuni and Fleetmatics (NYSE: FLTX) 2 years DEL HUMENIK Chief Revenue Officer Former CRO at Dex Media Inc. and SVP of Sales at Paychex (NASDAQ: PAYX) 4 years ANDREW WARDEN Chief Marketing Officer Former CMO at UnitedLex and SoftServe Senior Manager, Enterprise Apps, Worldwide Service Sales at Cisco (NASDAQ: CSCO) Started 2021 9#10Our solution 10#11Businesses need a holistic online strategy More Traffic Less Paid Advertisement Shorter-Term Social Media & PR Relative Time to Yield Traffic Content & SEO Longer-Term 11#12Unique combination of data assets Website Structure Online Reviews Crawl Data Panel Data S Search Index *As of September 30, 2021 User Behavior Online Visibility Profile Keywords Website Index Social Media Metrics Big data facts and stats* Total profiles 200 million domains Monitored in 146 countries Anonymized Panel Data Over an average of 1 billion events per week Keyword Data 20 billion keywords Display ads data 310 million Google Display Network banner advertisements Web Index 33 trillion backlinks 17 billion URLs crawled per day 12#13Semrush leadership in traditional martech categories Search Advertising SEO Content Analytics Local SEO Listing Management Competitive Intelligence Content Creation Marketing Analytics Social Media Analytics Social Media Monitoring Social Media Management Market Intelligence Marketing Calendar PR CRM Press Release Distribution PR Analytics Media and Influencer targeting WordStream Leader skyvord HubSpot Leader Leader Leader conductor Leader Leader Ye XT Leader Leader Sourced from G2.com on February 15,2021. Ranks for PR categories are for Prowly, fully owned subsidiary of Semrush Inc. Similareb Leader Leader Leader MOZ Leader Leader Leader reputation.com Leader Leader Leader Leader Leader CISION Leader Leader Leader Leader SEMRUSH Leader Leader Leader Leader Leader Leader Leader Leader Leader Leader Leader Leader Contender Niche High Performer Niche High Performer 13#14How our platform is differentiated * SUPERIOR DATA Significant breadth and depth of data from different sources allows us to build strong online visibility profiles of businesses of all sizes around the globe EASE OF USE By providing all tools in one interface we reduce time customers spend on switching. Our data for different channels is presented in the same format and can be easily analyzed O BETTER INSIGHTS By leveraging data from multiple sources, we build unique insights that point solutions can't find. en $ EFFICIENCY Comparable capabilities via point solutions on average cost meaningfully more POWERFUL INTEGRATIONS We provide complete workflow through our integrations with industry standard applications such as Trello, Gmail, Google Docs, Wordpress, GA, GSC as well as Social Networks and Reporting Tools Q TEAM COLLABORATION By combining products for PPC, SMM, Content Marketing and SEO in one platform we connect teams, eliminate silos, improve communications and increase their productivity 14#15Financial overview ARR** ● $198M+ FY2020 Gross Margin 76% ** *** FY2020 Revenue Growth Rate 36% Note: Figures as of December 31, 2020 unless otherwise noted Free cash flow: net cash provided by operating activities less purchases of property and equipment and capitalized software development costs, FCF margin: Free cash flow divided by revenue As of September 30, 2021 Guidance as of November 9, 2021 YTD FY2021 FCF Margin* 12.5% Dollar-Based Net Revenue Retention Rate** 124% FY2021 Revenue Growth Rate *** 49% We calculate our dollar-based net revenue retention rate as of the end of a period by using (a) the revenue from our customers during the twelve-month period ending one year prior to such period as the denominator and (b) the revenue from those same customers during the twelve months ending as of the end of such period as the numerator. This calculation excludes revenue from new customers and any non-recurring revenue 15#16Highly attractive cohort analysis Revenue (USD mln) 130 120 110 100 90 80 70 60 50 40 30 20 10 2013 Dollar-Based Net Revenue Retention Rate* 124% * As of September 30, 2021 New registered customers 2014 2015 Pre-2016 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 16#17Historical financials snapshot (1/2) Revenue (USD million) Revenue Growth (%) * FactSet Estimates FY17 38.4 FY18 63.5 62.8% FY19 CAGR +48% 92.1 45.0% FY20 124.9 35.6% FY21E* 186.3 49.2%#18Historical financials snapshot (2/2) Gross margin (Margin %, USD mln) Operating income (Margin %, USD mln) FCF* (Margin %, USD mln) FY17 * 73.8% 28.4 (8.8%) (3.4) 3.6% 1.4 FY18 72.2% 45.8 (10.4%) (6.6) (4.1%) FY19 75.5% 69.6 (8.9%) (8.2) 0.8% 0.7 FY20 76.0% 94.9 (4.9%) (6.1) 2.0% 2.5 9/30 2021 77.4% 103.9 0.9% 1.2 12.5% 16.8 (2.6) Free cash flow: net cash provided by operating activities less purchases of property and equipment and capitalized software development costs, FCF margin: Free cash flow divided by revenue 18#19Geographic revenue breakdown FY2020 43% Rest of the world 46% United States 11% United Kingdom 19#20Target Model - GAAP and Non-GAAP Gross Margin Operating Expenses: Sales & Marketing Research & Development General & Administrative Operating Income Non-GAAP Net Income 2019 76% 45% 15% 24% (9%) (8%) 2020 76% 44% 14% 23% (5%) (4%) 9/30 2021 77% 41% 13% 22% 0.9% 1.7% Target Model 80% 35% 15% 10% 20% >20% Note: All metrics are calculated as a percentage of revenue. Non-GAAP net Income excludes stock-based compensation expense. 20#21Key business highlights 1 Empowering Online Visibility Management Helping Businesses Manage Online Visibility Across Key Channels 2 Proprietary Tech and Data That Cover Key Aspects of Online Visibility With Deep Third-Party Integrations 3 Large And Diverse Customer Base With Highly- Efficient Go-to- Market Approach 4 Rapid Growth at Scale With Robust Margins at Scale and Highly Attractive Customer Cohorts 5 Large Market Opportunity With Proven Ability to Expand TAM Over Time Via New Products 21#22Thank you SEMRUSH#23GAAP to Non-GAAP Reconciliation (USD million) GAAP net cash and cash equivalents provided by operating activities Purchases of property & equipment and capitalization of software development costs Free cash flow GAAP net income Stock-based compensation expense Non-GAAP net income FY 16 1.1 (0.6) 0.5 FY 17 2.6 (1.4) 1.2 FY 18 (1.9) (1.1) (3.0) FY 19 1.9 (1.2) 0.7 (8.2) .5 (7.7) FY 20 5.9 (3.4) 2.5 (6.1) 1.0 (5.1) 9/30 2021 18.8 (2.0) 16.8 0.6 1.8 2.4 23