#1NOES GOLD P 17:00 JBE BE LITAIRE BUBBLE CUBE 2 DO Blackout BINGO! BIG BUCK HUNTER MARKSMAN INVESTOR DAY BIGRUOD Bowlero 100 Q SOUTAIRE CURE skillz MARCH 15, 2022 TRIVIA TRIVIA CRACK PAYDAY dond V DARTS 21 TOURNAMENT COUKING Big BLITZ Fe#23 JBE BE LITAIRE HOES GOLD 傻 BUBBLE CUBE 2 BIG BUGT Blackout BINGO! STRIKE! Bowlero 10 SOLITAIRE CUBE TRIVIA BIG BUCK HUNTER MARKSMAN Big COOKING DARTS TOURNAMENT TRIVIA CRACK PAYDAY PAREN 21 BLITZ#33 DISCLAIMER The information contained herein does not purport to be all-inclusive. The data contained herein is derived from various internal and external sources and is based on information available as of the date hereof. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. Skillz assumes no obligation to update any information in this presentation, except as required by law. INDUSTRY AND MARKET DATA This presentation includes information and statistics regarding market participants in the sectors in which Skillz competes and other industry data which was obtained from third-party sources, including reports by market research firms and company filings. 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 O or ® symbols, but Skillz 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. USE OF NON-GAAP FINANCIAL MEASURES This presentation includes non-GAAP financial measures. Skillz believes that these non-GAAP measures are useful to investors for two principal reasons. First, they believe these measures may assist investors in comparing performance over various reporting periods on a consistent basis by removing from operating results the impact of items that do not reflect core operating performance. Second, these measures are used by Skillz's management to assess its performance. Skillz believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. Other companies may calculate these non-GAAP financial measures differently, and therefore such financial measures may not be directly comparable to similarly titled measures of other companies. Please see the appendices to this presentation for a reconciliation of the non-GAAP financial measures presented herein to their most comparable GAAP financial measures. FORWARD LOOKING STATEMENTS AND INVESTMENT CONSIDERATIONS This presentation also contains forward-looking statements, which may be identified by such words as "may", "plans", "expects", "believes", "anticipates" and similar expressions, or by their context. These statements are made on the basis of current knowledge and, by their nature, involve numerous assumptions and uncertainties. Nothing set forth herein should be regarded as a representation, warranty, or prediction that Skillz will achieve or is likely to achieve any particular future result. Various factors could cause actual future results, performance or events to differ materially from those described herein. Some of the factors that may impact future results and performance may include, without limitation, the ability of Skillz to: effectively compete in the global entertainment and gaming industries; attract and retain successful relationships with the third party developers that develop and update all of the games hosted on Skillz's platform; comply with laws and regulations applicable to its business; as well as other risks and uncertainties indicated from time to time in the Company's SEC filings, including those under "Risk Factors" therein, which are available on the SEC's website at www.sec.gov. Each investor must conduct and rely on its own evaluation, including of the associated risks, in making an investment decision. skillz#4TIME (PACIFIC) 8:00a - 8:20a 8:20a - 8:40a 8:40a - 9:00a 9:00a - 9:15a 9:15a 9:30a 9:30a - 9:45a 9:45a 10:05a 10:05a 10:25a 10:25a 10:30a TODAY'S AGENDA TOPIC Strategic Vision Product & Technology Q&A Session #1 Session Break Developer Panel Distribution & Content Overview Financial KPIs Q&A Session #2 Closing Remarks SPEAKER(S) Andrew Paradise, CEO Vatsal Bhardwaj, CPO Management Team George Petro, Play Mechanix Tim O'Neil, Tether Casey Chafkin, CRO lan Lee, CFO Management Team Andrew Paradise, CEO skillz#5STRATEGIC VISION ANDREW PARADISE CHIEF EXECUTIVE OFFICER skillz#6MARKET Smartphones Social Networking Travel BUILDING THE COMPETITION LAYER OF THE INTERNET Ride Sharing Mobile Esports GLOBAL USERS (B) 3.5 3.4 1.4 4.1 1.0 Note: Market cap refers to the market champion. Sourced from Yahoo! Finance as of 3/2/22. MARKET CHAMPION f airbnb Uber skillz MARKET CAP (SB) $2,718 $566 $101 $67 $1 skillz#77 MOBILE GAMING IS THE FIRST TARGET MARKET Mobile Gaming Market (2021) 21% Ads $93B In-App purchase Source: Newzoo Games Market 2021 report, Udonis, and Frank N. Magid Associates. 79% 2.8B Mobile Gamers worldwide (2021) 40% Gamers want to compete skillz#88 MORE INHIBITORS IN THE PAST ×..... X X x No access to the user data Limited ability to customize the interface Lack of know-how to build skill games Our network was smaller than every game Developers believed they could build it themselves Regulatory risk HISTORY OF DEVELOPER ADOPTION TODAY IS MORE BALANCED × ×..... X No access to the user data Limited ability to customize the interface Lack of know-how to build skill games Our network continues to get bigger Replicating what SKLZ has built is not feasible Regulatory framework is well established FEWER INHIBITORS IN THE FUTURE X No access to the user data Greater ability to customize the interface Education & Insights to build skill games Our network continues to get bigger Replicating what SKLZ has built is not feasible Regulatory framework is well established skillz#99 SOLVING DEVELOPER PAIN POINTS ! DEVELOPER PAIN POINTS POOR MONETIZATION NO PAYMENTS INFRASTRUCTURE LIMITED DATA ANALYTICS MANUALLY INTENSIVE LIVEOPS LIMITED UA EXPERTISE & RESOURCES LIMITED CUSTOMER SUPPORT LIMITED SKILL GAMING EXPERTISE INCREASING COMPETITION FOR GAMER TIME SKILLZ SOLUTION HIGHER USER ENGAGEMENT AND RETENTION INTEGRATED PAYMENTS CAPABILITIES AND SINGLE USER WALLET PROPRIETARY PLAYER RATING, MATCHING AND FRAUD PROTECTION AUTOMATED, AI-DRIVEN LIVEOPS SOPHISTICATED UA CAPABILITIES EFFICIENT 24/7 CUSTOMER SERVICE DEVELOPER EDUCATION AND INSIGHTS BROADER SUITE OF SERVICES (E.G. AARKI) FUTURE skillz#1010 CAPABILITY ANALYTICS PAYMENTS LIVE OPERATIONS USER ACQUISITION CUSTOMER SUPPORT HOSTING AD NETWORK CONTENT DEVELOPER TOOLS PERCEIVED PRESENCE STRONG LIMITED EXPANDING OUR LEAD OVER COMPETITORS skillz EXIT GAMES NONE AD NETWORKS GAME DEVELOPERS TECH PLATFORMS skillz#1111 2.5B+ TOURNAMENTS 6.0M+ AVERAGE DAILY TOURNAMENTS 650B+ DATA POINTS 2.4B+ GMV Billions of annual tournaments Unique set of transaction / user data Paid entry and free gameplay WIDENING DATA AND TECHNOLOGY MOAT Broad end-user demographics skillz Note: Tournaments, Average Daily Tournaments, Data Points and GMV are all LTM data as of December 31, 2021. Player win rate in-band, transactions per second, NPS score, system uptime are all data for Q4'21. 888 Player rating and matching Anti-cheat & anti-fraud Segmentation engine System reliability & architecture 70%+ PLAYERS WIN RATE IN-BAND 70+ TRANSACTIONS PER SECOND 45 NPS SCORE 99.95%+ SYSTEM RELIABILITY IN UPTIME skillz#1212 0.050 0.066 0.087 0.104 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 PAYING MAU (M) 0.146 0.155 0.165 0.177 PROVEN SCALABILITY WITHOUT A TOP 10 GAME, YET Q2'19 Q3'19 Q4'19 0.2581 Q1'20 0.302 Q2'20 0.346 Q3'20 0.391 Q4'20 0.467 0.463 Q1'21 Q2:21 0.509 Q3'21 0.611 Q4'21 13 Q1'18 Q2'18 16 15 15 Q3'18 NUMBER OF GAMES >$1M GMV Q4'18 18 Q1'19 21 Q2'19 19 Q3'19 22 Q4'19 28 Q1'20 32 Q2'20 33 Q3'20 36: Q4'20 38 Q1'21 43 Q2'21 Paying Monthly Active Users (PMAU) is the number of end-users who entered into a paid contest hosted on Skillz's platform at least once in a month, averaged over each month in the period. Gross Marketplace Volume (GMV) is entry fees that may be paid using cash deposits, prior cash winnings that have not been withdrawn, and end-user incentives. 42 Q3'21 44 Q4'21 skillz#1313 15M+ GAME DEVELOPERS(¹) 1M+ GAMES ON THE APP STORE (2) (1) Source: Unity Software Inc. S-1 dated 9/17/20. (2) Source: Business of Apps dated 1/11/22. BUILDING THE CONTENT ENGINE YESTERDAY Build Product TODAY Build Marketing TOMORROW D 1. HIRE TEAM 2. DEVELOPER EDUCATION 3. OPTIMIZE PRODUCT Ramp Sales skillz#1414 $375K COST TO BUILD A GAME (¹) $10M COST TO ACQUIRE A GAME(2) WHY WE'LL WIN Note: $11k refers to cost of acquiring a developer who has signed and launched a game. (1) Based on the average range of $250k to $500k from Auroch Digital. (2) Based on selected mobile gaming transactions. skillz $11K COST TO ACQUIRE A DEVELOPER skillz#1515 THE PLAN Increase Marketing Efficiency Impactful New Products -2022 PLAN: PATH TO PROFITABILITY Invest in Developer Marketing Activate New Hires H ■ W I THE IMPACT GAAP Revenue grows slower than Revenue after Engagement Marketing (RAEM) GAAP Revenue and RAEM grows faster than Marketing RAEM grows faster than Revenue Adj. EBITDA margin improves ■ I ■ I GAAP Revenue and RAEM growing faster in 2H'22 than 1H'22 Adj. EBITDA margin improves Account Management team is hired Developer Education and Insights are delivered GAAP Revenue and RAEM per head grows Adj. EBITDA margin improves skillz#1616 CLOUD GAMING: A POTENTIAL GAME CHANGER isi Access to new audiences Revolutionize the playable ad Lower friction to onboard OUR END GAME Every Gamer, Every Developer and Every Type of Game on Skillz 20 Increase game discovery skillz#17PRODUCT & TECHNOLOGY VATSAL BHARDWAJ CHIEF PRODUCT OFFICER skillz#1818 COMPREHENSIVE PLATFORM SOLUTION 888 Gamer Competition Engine LiveOps System Network Data Science Technologies a Developer Console skillz#1919 DistanceDefense955 577 Events Enter Match Code SPA Spa Day Brackets $8 Begins In: 00:01:04:03 PRIZES $2,300+225 Head to Head 234 Solitaire Court Round Time: 24 hours PRIZES $8+225 +58 PLAY YOUR FIRST CASH MATCH! 22 Apprentice $0.42 Low stakes for two players! 1400 PRIZES $0.42 +20 Practice Novice Klondike for practice PRIZES 22+1+T2 SweetPengu: What are we twisting? XOscranton_stranglerOX: Playing bop it skillz powered 4 PLAYERS $0.00 00 PLAYERS ENTRY $3 2 PLAYERS |||| ENTRY $3 ENTRY $0.25 2 PLAYERS ENTRY21 CORE PRODUCT EXPERIENCE CURRENT STATE Unchanged since launch Poor tournament discovery Slower gameplay access $ 100.30 All Events Your Turn Events We put the giving in Thanksgiving. Free login bonus! € 600 in prizes Home 165 Claim Bonus Cash Pearl 10- $2 Entries 2 34 Play Live . Leagues Tie Breaker vs.goblin_king $1 Prize waiting 3h 12m 5s Play Ends in: 3h 12m 5s FUTURE STATE Wallet Head to H Match Code CPP 5 91 in priz Swea 10-$ More $ 100.30 All Events $ 600 in prizes 165 Events Play Live No tricks. Free login bonus. No deposit required! Claim Bonus Cash 1 Card - Diamond $2 Entry Home Leagues Z 34 Play Live Play Match Code Begins in: 3h 12m 5s Daving Online Store in priz H 1 Car $300 Rules More skillz#2020 PHASES OF SOCIAL GAMEPLAY 2. Chat 3. Competition SOCIAL 3. More social gameplay features to come 22 EXAMPLE OF CHAT SirTastyLlamizzle I'll hop in the queue right now UnableUneven824@ Sweet a Diamond Strike Chat Ⓒ UnableUneven824 How do the shoutouts work? 123 B SirTastyLlamizzle You show them after games end SirTastyLlamizzle@ And can buy them with Z Got it, and you earn them by of Sir TastyLlamizzle@ Can't stop, won't stop JoyousSeat414 +1 What entry are y'all playing?? SirTastyLlamizzle I'm trying to get enough Z for a shoutout one 9:25 AM e r ty ui on S d f g hi k space. ZX C vbnm 9:25 AM 0:26 AM X 9:25 AM 9:25 AM 9:27 AM 9:27 AM > Ⓒ return SH skillz#2121 RETENTION Increasing spend, Push notifications, Player Matching CONVERSIONS Making first Deposit, Segmentation PERSONALIZATION AND DATA SCIENCE REGISTRATION Sign up/First few games ACQUISITION Ad Networks EnquiryMaterial343 12 219 LIMITED TIME OFFER! $10 BONUS CASH Best Value $2 $10 Example of Personalized LIMITED TIME OFFER CHOOSE YOUR DEPOSIT AMOUNT: $30 skillz ✔ENTER PROMO CODE Get $30 Bonus Cash Invite Friends EARN MORE $0.00 00:23:59:55 with a $10 DEPOSIT $5 $15 > W havingsometeng 272K 2250 LIMITED TIME OFFER! $50 BONUS CASH $10 $50 CHOOSE YOUR DEPOSIT AMOUNT: skillz powered $22.59 ENTER PROMO CODE Get $30 Bonus Cash Invite Friends 00:07:49:19 with a $100 DEPOSIT $20 $100 +$30 BONUS $500+$250 BONUS EARN MORE Z CLAIM FREE 2 Best Value MOD Mandapanda820: Yes it's real Fatmommatojandd: Yasslinuush where are you from? L skillz#2222 SOLO PLAY PRE-SKILLZ REAL-TIME MULTIPLAYER ASYNC VS SKILLZ CIRCA 2016 - SOL CUBE TURN BASED SYNC SKILLZ 2020 - POOL PVP SYNC BIG BUCK HUNTER FRAYHEM MULTI PLAYER TOMORROW 0 0 skillz#2323 Hyper Dcustomization Custom Developer C invests into С with custom integration and developer tools Semi-customized Game modes: BTemplates Tournaments App icons A STATIC INTEGRATION PROGRESSION mattymatt 81.9K RANK S Skillz Level Missions & Items €1,099 POOL PAYDAY Pool yday Season Two is Here! Ends on March 07 ITEMS skillz powered $44.62 TICKET Silver Tier 6/24 ill GIFTEDRDCL:44 for you koop hope it make... geno81671: All depends zara JO GOALS DAILY MISSIONS COLLECT MISSION POINTS FOR REWARDS! NEXT REWARD: X 200/600 MISSIONS IN PROGRESS: ACHIEVEMENTS HIT ANY TRIPLE TARGET 50 TIMES 1/50 NEXT MISSIONS IN: O 22H 2M REWARD 200 CONTINUE skillz#2424 HIGHLY SCALABLE AND RELIABLE PLATFORM High Performance 70+ Transactions Per Sec (2021) 99.95 %+ System Uptime (2021) termax Tournaments (M) 400 300 200 100 0 135 Q4'18 2.6x 345 Q4'21 illz skillz#2525 SUMMARY Comprehensive Go-To-Market Platform for game developers User Interface Refresh on the core product experience increases LTV and trust Social increases user engagement ■ Personalization increases user retention Real-time Multiplayer Sync broadens the content on our platform and grows the audience Progression increases developer and player investment ■ High Performance Platform Architecture with differentiation driven by data science skillz#26Q&A SESSION #1 skillz#27X etermax SESSION BREAK skillz skillz#28JBE BE LITAIRE NOES GOLD B O BUBBLE CUBE DO DEVELOPER PANEL MARKSMAN Blackout BINGO! BIG RIGH GEORGE PETRO Bous OWNER Play Mechanix TRIVIA 40 TIM O'NEIL CO-FOUNDER & CEO TETHER STUDIOS. TRIVIA CRACK PAYDAY dond DARTS 21 TOURNAMENT BLITZ#29DISTRIBUTION & CONTENT CASEY CHAFKIN CHIEF REVENUE OFFICER skillz#3030 $100K- $150K $150K+ $75K- $100K 11% 9% 30% 7% OO $25k- 33% $50K $50K-$75K <$25k 10% Income LARGE, DIVERSE PLAYER AUDIENCE 44% Male Gender Female 56% 50-59 20% 60+ 14% Under 20 Age 25% 40-49 2% Source: Income demographics from Axciom survey data of paying users (2018). Gender and Age demographics from Skillz research. Amounts may not total due to rounding. 15% 20-29 25% 30-39 skillz#3131 REACHING AND ACQUIRING USERS EFFICIENTLY Drive incremental revenue efficiently by acquiring and retaining users through diversified media investments and organic media channels DIVERSIFIED PAID MEDIA MIX Deploy spend across highly programmatic and social channels, in addition to making investments up and across the funnel EXPANDED USE OF DATA AND AUTOMATION Continued investment in machine learning, automated data systems and media spend enablement tools to drive incremental marketing precision REDUCE DSP FEES Shift paid media spend to the 'Skillz Media Network' - our in-house DSP - to reduce fees charged by external DSPs EXPAND ORGANIC CHANNELS Grow investments in App-Store-Optimization (ASO), Search Engine Optimization (SEO) and Skillz organic social channels skillz#3232 DRIVING DEEPER ENGAGEMENT ON THE PLATFORM OPTIMIZE ENGAGEMENT MARKETING SPEND Optimize engagement marketing spend by focusing on high return programs, profit-margin accretive channels and player information Improve the approach for evaluating the short and mid term impact of engagement marketing, prioritizing high return and elimination of low return programs GROW PROPRIETARY COMMUNICATION CHANNELS Investing into Skillz-controlled channels (e.g. Email, Push) to allow for more effective and efficient retention of active and reactivation of lapsed users, through contextually relevant messaging, content and offers PLAYER PROFILES Layer refreshed qualitative segmentation research, additional second and third party data and ongoing collection of first party data (e.g. progressive profiling) skillz#3333 wwwwwwwwwww skillz BUILDING THE BRAND Execute brand refresh to ensure a consistent and differentiated architecture, design and positioning while continuing to invest in partnerships to expand our footprint and deliver revenue for partners. BRAND REDESIGN skillz Your inner champion awaits LIVE EVENT GT Haptik Blitz Champ Embrace your inner champion. N S VEN versus peat Repeat Rep NFL American Red Cross BRAND AND IP PARTNERSHIPS ORL Bowlero SAMSUNG T Mobile American Cancer Society® skillz#34BE BE 34 PHIRE INOES GOLD BUILD COMMUNITY Marketing To Lift Awareness And Interest In Building With Skillz UB CUL Build Community To Create Demand Optimize both the Managed and Self Serve functions SOLITAIRE Black GROWING THE DEVELOPER ECOSYSTEM BIG RUOTA EMPOWER Developers Through Education & Insights Bowlero TRIVIA BIG RI HU MARK W affe Education & Insights Tools & Services G For Success For More Developer Control TRIVIA PRODUCTS & SERVICES New Tools And Services To Give Developers More Control And Functionality DA TOUR 21 BLITZ skillz#3535 SUMMARY We have a Large and Diverse audience of players We are Optimizing UA via Data Science, automation, Aarki spend migration and organic traffic growth We are Driving Deeper User Engagement with owned communication channels and more user data We are Building our Brand which will enhance all our consumer marketing efforts We are Investing in our Developer Ecosystem to grow the number of successful games on our platform skillz#36FINANCIAL KPIs IAN LEE CHIEF FINANCIAL OFFICER skillz#3737 YEARS AGO to TODAY Source: Newzoo (1) PMAU figures are as of Q4 2016 and Q4 2021 respectively. (2) Revenue figures are for FY2016 and FY2021 respectively. WHERE WE'VE COME FROM $37B MOBILE GAMING MARKET SIZE $93B MOBILE GAMING MARKET SIZE 24K PAYING MAU(1) 611K PAYING MAU(1) S8M REVENUE (2) $384M REVENUE (2) skillz#3838 Average # of Tournaments Paying Users Average Entry Fee Gross Marketplace Volume Prizes Developer Revenue Share HOW WE GENERATE REVENUE Take Rate pMAU Revenue ARPPU End-user Incentives Reducing Revenue RAEM Engagement Marketing Incentives in Sales & Marketing#3939 Business Model HOW THE BUSINESS MODEL WORKS GAMER 1 YOU WIN! GAMER 2 YOU LOSE $0.60 Entry Fee $0.60 Entry Fee $1.20 Gross Marketplace Volume ($1.00) Prizes, Incentives & Dev Profit Share $0.20 x 92% $0.18 $0.17 $0.01 Revenue (14.7% take-rate) Gross margin Gross profit OpEx (excl. SBC, D&A, non-recurring items and UA) Adj. EBITDA before UA (17% of Revenue) Note: All dollar amounts are illustrative and based on actual take-rate and margin structure and reflect rounding. Adjusted EBITDA is defined as EBITDA before non-recurring items and stock-based compensation ("SBC"). D&A means Depreciation and Amortization. UA or UA Marketing is the total cost to acquire new users in that period. UA Marketing was $85.6 million in Q4 '21. See Appendix for a reconciliation of Adjusted EBITDA to the most comparable GAAP metrics. skillz#4040 Revenue $51 2018A 42% $120 2018A 2019A 43% $230 2019A 2020A Engagement Marketing as % of Revenue 43% PURSUING PROFITABLE GROWTH 2020A $384 2021A 49% $400 2021A 2022E 39% 2022E Revenue after Engagement Marketing $30 2018A $261k -36% $69 2018A 2019A $148k -19% $130 2019A 2020A $467k RAEM per Person Adjusted EBITDA Margin % -29% $197 2020A 2021A $288k -47% 2021A $324k 2022E $324k -37% 2022E Note: All $ in millions, except for per person statistics. 2022E based on guidance provided by Company in connection with Q4'21 earnings on 2/23/22. See Appendix for a reconciliation of Adjusted EBITDA Margin % to the most comparable GAAP metric. skillz#4141 Key Drivers Grow User Retention or Engagement Improve UA Efficiency Improve Engagement Marketing Efficiency DRIVERS OF PATH TO PROFITABILITY ROI 3.00 x 2.00 x 1.00 X 0.00 x (1.00)x Q1 2017 -Q3 2019 0 ROI on UA Marketing (1) -Q2 2017 Q4 2019 -Q3 2017 (1) ROI calculated based on cumulative gross profit after engagement marketing divided by UAC. I Q4 2017 Q1 2020 =Q2 2020 12 Q1 2018 Q3 2020 Months Q2 2018 Q4 2020 24 -Q3 2018 Q1 2021 Q4 2018 Q2 2021 1 Q1 2019 Q3 2021 36 Q2 2019 Q4 2021 skillz#4242 Key Driver is new user features Key Risks include product development and user adoption Key Upsides include new content GROWING USER RETENTION OR ENGAGEMENT LTV (GPAEM basis) Historical Quarterly Cohort LTV 500% 400% 300% 200% 100% 0% Q1 Q1 2018 Q3 Q2 -Q2 2018 -Q2 2020 Q4 Q5 -Q3 2018 -Q3 2020 Q6 -Q4 2018 -Q4 2020 Q7 Q8 Q1 2019 Q1 2021 Q9 Q10 Q2 2019 -Q2 2021 Q11 Q12 -Q3 2019 Q3 2021 Q13 Q14 Q4 2019 Q4 2021 Q15 Q16 Q1 2020 Note: LTV calculated based on cumulative gross profit after engagement marketing. LTV shown on a per paying user basis. LTV performance is indexed to the first quarter that the cohorts are acquired. skillz#4343 IMPROVING USER ACQUISITION MARKETING EFFICIENCY- Key Driver is optimizing current traffic sources and growing organic Key Risks include traffic quality from newer sources and media cost inflation Key Upsides include better than expected price elasticity, Aarki performance improvements and cloud gaming Note: UAC indexed to Q1'18. $ in millions $150 $100 100% $50 $0 $4.2 $5.7 $7.2 $7.6 $11.3 $11.4 $13.5 $16.3 CV-19 Impact $27.0 $25.6 $43.6 $40.5 $54.3 $47.0 $55.2 214% $85.6 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 User Acquisition -Indexed UAC skillz#4444 IMPROVING USER ACQUISITION MARKETING EFFICIENCY (CONT'D) Example Initiative Targeting "sweet spot" of UAC vs Spend UAC UAC vs UA Spend "Sweet Spot" Of Spend Elasticity UA Spend skillz#4545 IMPROVING ENGAGEMENT MARKETING EFFICIENCY Key Driver is identifying low return programs Key Risks include uncertain impact on longer-term user behavior Key Upsides include eliminating programs that may have been displacing user deposits $ in millions $100 $75 $50 $25 $0 42% 42% 41% $3.3 $4.5 $5.9 42% $7.4 44% 43% 43% 43% $11.4 $11.9 $13.3 $14.9 39% 40% Engagement Marketing $17.1 $23.4 44% $26.6 48% $32.6 43% $36.0 50% Engagement Marketing as % of Rev $44.9 49% $50.0 52% Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 $56.7 skillz#4646 Implied ROI on Bonus Cash $2,160,000 $1,600,000 0.4x Limited Time Trophies $580,000 IMPROVING ENGAGEMENT MARKETING EFFICIENCY Initiative A Bonus Cash Offered (CONT'D) Examples of engagement marketing initiatives $192,000 $33,000 4.8x Gross Profit Delivered $159,000 Initiative B GPAEM Delivered 7.3x $5,000,000 $602,000 Limited Time Offers $4,400,000 Initiative C Bonus Cash Offered $4,170,000 $470,000 7.9x $3,700,000 Initiative D Gross Profit Delivered GPAEM Delivered Note: The example initiatives that are shown indicate the Bonus Cash offered and the Gross Profit after Engagement Marketing delivered within a 7-day period on the Skillz platform for each initiative. skillz#4747 KEY NEAR-TERM DRIVERS Greater user acquisition efficiency Lower and more effective engagement marketing U PATH TO BREAK EVEN etermax LTV growth driven by product initiatives ....... B KEY UPSIDE DRIVERS New hit content Take rate enhancement Brand partnerships ■ ■ International expansion Cloud gaming Access to Google Play store skillz#4848 SUMMARY We are Pioneering a new market Profitable and Durable Growth is our focus Path to Profitability driven by improving unit economics Marketing Efficiency and New Products is our plan New Content is Upside to full year 2022 revenue and RAEM guidance skillz#49Q&A SESSION #2 skillz#50CLOSING REMARKS ANDREW PARADISE CHIEF EXECUTIVE OFFICER skillz#5151 SUMMARY Building the Competition Layer of the Internet is our mission We Serve the Massive, Rapidly Growing Market of mobile gaming We Make Gaming Better for the Entire Ecosystem with an innovative solution for monetizing games Adoption by Game Developers is Still Early with fewer inhibitors today than in the past We are Investing in the Content Engine to increase the games on our platform Our goal is Every Gamer, Every Developer and Every Game on Skillz! skillz#52THANK YOU#5353 ($ IN MILLIONS) Net Loss Interest Expense, net APPENDIX: RECONCILIATION TO NON-GAAP ITEMS % OF REVENUE % OF REVENUE Change in fair value of common stock warrants liabilities Stock-based Compensation Provision for Income Taxes Depreciation and Amortization Other non-operating costs (income) Impairment charge Acquisition related expenses Loss contingency accrual One-time non recurring expenses 2021 ($181.4) 1.2 (87.9) 60.3 (19.0) 11.1 0.0 8.0 11.6 14.6 (47.2%) 0.3% (22.9%) 15.7% (4.9%) 2.9% 0.0% 2.1% 3.0% 3.8% 2020 ($145.5) 1.3 23.0 23.8 0.1 1.6 21.4 3.4 4.7 (63.2%) 0.6% 10.0% 10.3% 0.0% 0.7% 9.3% 1.5% 2.0% 2019 ($23.6) 2.5 1.2 0.7 (3.6) % OF REVENUE (19.7%) 2.1% 1.0% 0.6% (3.0%) Adjusted EBITDA ($181.5) (47.3%) ($66.1) (28.7%) ($22.8) (19.0%) Note: The Company defines and calculates Adjusted EBITDA as net income (loss) before interest, other non-operating expense or income, (benefit) provision for income taxes, and depreciation and amortization, and further adjusted for stock-based compensation and other special items determined by management, including, but not limited to, fair value adjustments for certain financial liabilities (including derivatives) associated with debt and equity transactions, impairment charges, acquisition related expenses for transaction costs and certain loss contingency accruals. The Company's management believes Adjusted EBITDA is useful in evaluating its operating performance and is a similar measure reported by publicly-listed U.S. competitors, and regularly used by security analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. skillz#5454 (S IN MILLIONS) Revenue APPENDIX: RECONCILIATION TO NON-GAAP ITEMS Sales and marketing - engagement marketing Revenue after engagement marketing 2021 $384.1 $187.6 $196.5 2020 $230.1 $99.8 $130.3 Note: The Company defines and calculates RAEM based on the Company's consolidated revenue less engagement marketing expenses included in sales and marketing expense. The Company's management believes that RAEM is a useful measure to enable investors to better measure the Company's progress in optimizing engagement marketing and the core growth rate of our business. 2019 $119.9 $51.4 $68.5 skillz#55a UBE BE LITAIRE NOES GOLD BUBBLE CUBE BIGRUOT Blackout BINGO! 10- STRIKE! Bowlero SOLITAIRE CURE skillz TRIVIA BIG BUCK HUNTER MARKSMAN Big COOKING DARTS TOURNAMENT TRIVIA CRACK PAYDAY 15 21 BLITZ 55