#1Hello, we're UiPath. We make software robots so people don't have to be robots. (4) April 2021 mum Ui Path Work Reboot™#2Safe harbor disclaimer UiPath, Inc. (the "Company," "UiPath," "we," or "us") has filed a registration statement (including a preliminary prospectus) on Form S-1 (File No. 333-254738) with the Securities and Exchange Commission (the "SEC") for the offering to which this presentation relates. The registration statement has not yet become effective. Before you invest, you should read the preliminary prospectus in that registration statement and other documents we have filed with the SEC for more complete information about us and this offering. You may get these documents for free by visiting the SEC website at http://www.sec.gov. Alternatively, copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by email at [email protected]; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, collect telephone: 1-212-834-4533, or by emailing at [email protected]. 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. ROILY PROHIBITED Ui Path Work Reboot™ This presentation includes express and implied "forward-looking statements", including forward-looking statement within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements include all statements that are not historical facts, and in some cases, can be identified by terms such as "anticipate," "believe," "estimate." "expect," "intend," "may," "might," "plan," "project," "will," "would," "should," "could," "can," "predict," "potential," "continue," or the negative of these terms, and similar expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this presentation include, but are not limited to, statements concerning our future financial and operational performance, strategic plans or objectives, estimates of market size and opportunity, our growth prospects and our long-term target model. By their nature. these statements are subject to numerous risks and uncertainties, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements. You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. 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 UiPath's own internal estimates and research. While UiPath 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 UiPath'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. Our fiscal year end is January 31, and our fiscal quarters end on April 30, July 31, October 31, and January 31. Prior to the fiscal year ended January 31, 2020, UiPath's fiscal year was aligned with the calendar year with fiscal quarters ending March 31, June 30, September 30 and December 31. Our calendar years 2016, 2017 and 2018 are referred to herein as fiscal year (or FY) 2016, 2017 and 2018, respectively. This presentation includes free cash flow and non-GAAP operating margin, each of which is a non-GAAP financial measure. See the Appendix for a definition of free cash flow and non-GAAP operating margin, and a reconciliation to the nearest GAAP measure. These non-GAAP financial measures are in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures. For example, other companies may calculate similarly-titled non-GAAP financial measures differently. This presentation also includes certain non-standard financial measures. These non-standard measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. The non-standard financial measures used by us may differ from the non- standard financial measures used by other companies. The forward-looking statements and market data in this presentation speak only as of the date hereof of the date specified. Except to the extent required by U.S. federal securities laws, UiPath, Inc. disclaims any obligation to update or correct such forward-looking statements or market data. All third-party trademarks, including names, logos and brands, referenced by us in this presentation are property of their respective owners. All references to third-party trademarks are for identification purposes only. Such use should not be construed as an endorsement of the products or services of us or this potential offering. Neither the information contained in this presentation, nor any further information made available by us or any of our affiliates or employees, directors, representatives, officers, agents or advisers in connection with this presentation will form the basis of or be construed as a contract or any other legal obligation. 2#3Offering summary Issuer Offering Size Overallotment Option Filing Range Expected Pricing Lock-up Period Exchange / Ticker Use of Proceeds Lead Bookrunners Bookrunners Co-Managers Reboot Ui Path Work UiPath, Inc. 21,282,081; 6,807,688 by UiPath and 14,474,393 by certain selling stockholders 3,192,312 (100% primary) $43.00-$50.00 April 20, 2021 Partial lock-up release for selling stockholders (other than Daniel Dines), directors, executive officers, employees and former employees, and certain other equity holders on second full trading day following Company's first quarter earnings. Full lock-up release following the Company's second quarter earnings. NYSE /"PATH" General corporate purposes; UiPath will receive no proceeds from sales by selling stockholders Morgan Stanley and J.P. Morgan BofA Securities, Credit Suisse, Barclays, Wells Fargo Securities, SMBC Nikko, BMO Capital Markets, Mizuho Securities, Keybanc Capital Markets, TD Securities, Truist Securities, Cowen, Evercore ISI, Macquarie Capital, Nomura, and RBC Capital Markets Canaccord Genuity, D.A. Davidson & Co., Oppenheimer & Co., and Needham & Company VON OF#4$580M ARR From Humble Beginnings... 145% Dollar-based net retention rate 70%+ Customer 65% ARR growth rate year over year ALIS STRCIA CAGR ...to the Leader of Enterprise Automation Notes: 1. See Appendia for definitions of Auszed Renewal Run-rate (ARR) and Dollar Based Net Relation Rate: 2. AB data as of or for the focal your anded January 31, 2021 unless otherwise indicate 3 ARR and YoY ARR growth rate as of January 31, 2021; & Customer CAGR represent period from January 31, 2010 to January 31, 2021 Reboot Ui Path Work 4 CONFIDENTIAL#5Executive summary 1 2 3 4 End-to-end platform uniquely positioned DDTRETION OF for today's complex business processes High customer ROI, ubiquity of use cases and proven land-and-expand commercial model Speed of innovation, depth of technology and breadth of ecosystem drive market leadership Top tier metrics: Growth at scale, strong unit economics & operating rigor Reboot Ui Path Work $60+ Billion market opportunity 107% growth in customers >$1 million ARR 12+ new products & multiple new features over last 18 months 65%+9 "Rule of 40" Notes: 1. To estimate our cuent gutal market apportunity widersfied the number of companies worldwide across all industries with at least 200 employees, based on certain independent industry data from the S&P Capital database. We then segmerted these companies into three categories based on total number of employmes companies with 200-4.990 employees companies with 5.000-19.499 employees and companies with 20,000 or more employees. We then multiplied the number of companies in each category by the 90th percentile of AFR per customer in earth such abort as of December 31, 2020, anong customers with at least $30.000 in ARR which we believe represents a customer that has broadly deployed our platform across the enterprise, and then summed the results from each category 2 Represents YoY growth in customan greater than or equal to $1 milion ARR 3 R of 40 defined as YOY ARR growth as of January 31, 2021 plus Non-GAAP Free Cash Flow margin as of January 31, 2021 ter to Appends for definition of Non-GAAP Free Cash Flow 5 CONFIDENTIAL#61 End-to-end platform uniquely positioned for today's complex business processes Ui Path Reboot Work. 6 CONFIDENTIAL#7Millions of manual processes result in lost productivity and lower job satisfaction Financial close and reporting Patient registration Vendor management Performance management Customer on-boarding HR Recruiting Health tracking Self-service automation E-discovery Order management Note: 1 2 3 Data process Billing Chatbot integration Automated testing Campaign management Credit Checks CRM updates Risk monitoring 50%+ decline in productivity growth Fraud detection Supply Chain execution Deal analysis and execution FX and VAT reporting Loan processing Customer service Data migration Trade e GDPR Comp Help desk requests Data cleansing Refund processing Lead management Tax Reporting Billions of hours spent daily on manual tasks Payroll processing Payroll automation Account reconciliation Contract management Product information management Field dispatch services Legacy-system access Clinical trial and patient management Know Your Customer Vendor manageme Accounts rec Cybersec Procuremen Accounts payab pense management ERP exception processing Supplier validation Reboot Ui Path Work LE Customer communications -70% Increase in apps / company last 4 years Customer management HR administration Security validation HR Administration Federal Reserve Bank of St. Louis, in the United States, non-farm meal outpud per hour grew 31% during the decade ended December 31, 2009, but only 13% in the subsequent decade ended December 31, 2019 represent decline in productivity growth relative to the prior decade Forrester 2018 New Technologies Create The Need To Design For New Categories Of Information Workers, September 2019, Estimated based on 125bn knowledge workers globally WSJ. Employees Are Accessing Mare and More Business Apps: February 2019 Master data management voice Processing pe management es analytics munications Employee management Appointment scheduling ck and trace At management employee on-boarding Customer data integration Supplier validation Logistics operations 7 CONFIDENTIAL#8Every process uses multiple applications and every company does it differently Financial close and reporting Self-service automation Automated testing Order man E-discovery Data proces Billing Credit Checks Patient registration Vendor management Performance management Chatbot integration Campaign management HR Recruiting Customer on-boarding Health tracking CRM update Deal analysis and execution Import financials Build financial model Respond to diligence requests Populate dataroom Review filings Risk monitoring Supply Chain execution Deal analysis and execution FX and VAT reporting Fraud detection Loan processing Data cleansing Refund processing Payroll processing Payroll automation P FACTSET BamSEC INTRA LINKS Lead management Field dispatch services Know Your Customer Tax Reporting Product information management Clinical trial and patient management PRINTING CORVERANDI, Customer communications Contract management Bloomberg ERP exception processing Supplier validation Legacy-system access Employee management Reboot Ui Path Work PitchBook. S&P CAPITAL IQ MCGRAW HILL FINANCIAL Master data management Processing MERESS: 42 management Security validation HR Administration HR administration Appointment scheduling as analytics munications k and trace on-boarding Customer management Customer data integration Supplier validation anagement Logistics operations of 8 CONFIDENTIAL#9UiPath automates processes using its end-to-end automation platform UiPath software robots emulate people See All Computer Vision Reads the screen Think All Machine Learning Decides what to do SAP Epic Interacts with applications via UI & API Do RPA N NETSUITE A ATLASSIAN Automation layer PagerDuty alteryx bill.com mongoDB DocuSign DATADOG ORACLE IBM smartsheet Veeva aws zendesk zuora now. PAYCHEX C. CONCUR ADP Symantec CITRIX #medidata Reboot Ui Path Work Our platform enables customers to Discover what to automate Process discovery, task mining Gamification ESS Build, manage and run robots Citizen and professional development studios Drag and drop Al capabilities Orchestration Broad set of capabilities, highly differentiated Multi-cloud operations Engage, measure & govern users Human in the loop Apps and analytics CONFIDENTIAL#10UiPath can be deployed anywhere, increasing the addressable opportunity Ui Path AUTOMATION CLOUD (SAAS) aws PUBLIC & PRIVATE CLOUD DISCOVER Process Mining Task Mining Automation Hub ENGAGE Assistant Apps Action Center GOVERN RUN MEASURE BUILD Studio StudioX Studio Pro MANAGE Orchestrator Test Manager Al Center 61 HYBRID Á ON-PREMISES Ui Path Work Reboot™ 10 CONFIDENTIAL#11UiPath end-to-end automation platform advantages Differentiated technology . Comprehensive end-to-end automation platform built across 15 years of continuous innovation UI + API automation and Al Computer Vision enables human emulation and resiliency Deep integration with ML & Al Modern and democratized development platform enabling widespread deployment Proven enterprise-scale capabilities Unique customer value . . • . Proven significant ROI Fast time-to-value Low total cost of ownership Wide variety of use cases Sophisticated governance, management and orchestration capabilities Al-powered discovery for highest return opportunities Avoid vendor lock-in Reboot Ui Path Work Extensive ecosystem Vibrant community with more thanen undion 800,000 Academy users and overs 83,000 UiPath Forum participants 3,700+ business and technology partners increase reach and leverage Marketplace offering pre-built automations with ~10,000 user- initiated downloads/month Global enablement of digital transformation journeys to accelerate innovation and automation 11 CONFIDENTIAL#12Why we win We chose UiPath because of the balance of attended and unattended capabilities. The breadth of the product, roadmap, and culture set it apart. VOYA Vice President Automation "We chose UiPath because the platform can be used successfully across our organization - from individuals to departments - to deliver value swiftly, easily and inexpensively. BMO Harris Bank Business Enablement Executive Reboot Ui Path Work "We explored multiple options but only UiPath had the complete solution. They had the most robust platform, strongest platform roadmap with Al and discovery tools, and a comprehensive customer support and partner eco-system. APPLIED Corporate Vice President, MATERIALS Finance Automation with UiPath is unique as their platform PETHOUDENDE delivers both low total cost-of-ownership and fast PHOTO FRONT time-to-value. Head of Digital Takeda Service Line 12 CONFIDENTIAL#13A large, fast-growing and transformational market opportunity "6 Automation promises to change the nature of what an organization is, what a company does, and how work is done." FORRESTER $10BⓇ 2015 $17BⓇ 2020 $30B 2024 The Fully Automated Enterprise $60B+ Secular tailwinds driving market expansion Need for speed and agility increasing for organizations Democratization and rise of citizen developer Software is enhancing labor Note: 1. The Future of Work, Famester. 2019 2 DC Intelligent Process Automation Worldwide intelligent Process Automation Revenue by Segment and Deployment Type 2015-2024 published July 2020. Market definitions for Robotic Process Automation (RPA) and intelligent Process Automation (IPA) defined by IDC 3. To estimate our current global market opportunity, we identified the number of companies worldwide across all industries with at least 200 employees, based on certain independent industry data from the S&P Capital IQ database. We then segmented these companies into three categories based on total number of employees companies with 200-4 999 employees, companies with 5.000-19.999 employees, and companies with 20,000 or more employees. We then multiplied the number of companies in each category by the 90th percentile of ARR per customer in each such cohort as of December 31, 2020, among customers with at least 510.000 in ARR, which we believe represents a customer that has broadly deployed our platform across the enterprise, and then summed the results from each category 13 CONFIDENTIAL#142 High customer ROI, ubiquity of use cases & proven land-and-expand commercial model Ui Path Reboot™ Work. 14 CONFIDENTIAL#15Thousands of customers trust UiPath across a wide variety of industries MAA 7,960+ customers Financial services Insurance TD Securities Notes 1. Figures as of January 31, 2001 A Adobe A AUTODESK SUMITOMO MITSUI SMBC FINANCIAL GROUP BANK OF AMERICA Technology APPLIED MATERIALS CROWDSTRIKE 63% of Fortune Global 500 Healthcare and life sciences Cleveland Clinic Mercy Technology Services ♥CVS Health. Takeda Media & telco SBA) etisalat pandora® ROGERS. 80% of Fortune 10 Public sector & energy Ui Path Work ChevroneDF ICC NJ intomational computing centre Retail, manufacturing & logistics DHL GE & CHIPOTLE MEXICAN GRILL TOYOTA 15 CONFIDENTIAL#16Automation journey drives ongoing expansion opportunity Value Single department / targeted use cases Use case and department expansion Proof of concept Governance Full platform adoption Citizen development Executive sponsorship Flywheel begins Time Fully Automated Enterprise Enterprise-wide deployment Flywheel C-Suite engagement . . Reboot Ui Path Work More value to UiPath as the customer journey continues Ubiquitous adoption More robots + products = greater expansion Deep relationships with business and IT partnerships Extensibility of platform yields a variety of use cases 16 CONFIDENTIAL#17Deployment case study nielsen "We tell our employees, don't be the glue; be the value, and let the robots be the glue that connects the dots. Vice President, Global Digital Transformation CHALLENGE Delivering analysis to customers needed to be faster Points of inefficiency • Vast amounts of data to collect & process . Less time to improve value of analysis • Volume of customers to serve timely UIPATH SOLUTION Utilized unattended and attended robots monitored by COE New process • Robots collect, consolidate & process . Knowledge worker reviews • Robot sends to customers UIPATH & NIELSEN A top 200 customer, with relationship with VP/SVP level # of robots 20 '18 100 $19 Reboot Ui Path Work Over 400,000 hours of work automated across 40 business units 200+ $20 Products • Studio, Orchestrator, Unattended (2018) • Attended, Automation Hub (2019) • Automation Cloud (2020) 17 CONFIDENTIAL#18Success with UiPath is shared across our entire customer base SMBC SUMITOMO MITSUI BANKING CORPORATION AREA OF FOCUS Productivity & Operations 3.5 million hours saved SMBC Group is a digital business, and RPA and Al are core to our digital business. Chief Executive Officer, SMBC Value Creation EQUIFAX AREA OF FOCUS Finance, Operations, Compliance, Technology & Customer Support 1.1 million hours saved & 400 robots deployed RPA was never a cost play. It is about speed of doing business and compliance, getting the benefits out of the workforce that we have never achieved before. Senior Vice President, Global Shared Services EY AREA OF FOCUS HR Onboarding & Process Mining for Audit 270,000 employees benefiting from automation UiPath has enabled EY to accelerate our Next Wave strategy... with a better employee and client experience. Global Managing Partner, Enablement Reboot Ui Path Work O ROGERS. AREA OF FOCUS Customer Experience, Call Center & Field Dispatch $20 million annual savings & reduced customer hold times The big value proposition is... time-to-value...transformation is now rapidly raising our bottom- line and customer experience. SVP Digital Operations and Process Improvement Our customers benefit from all aspects of our end-to-end platform 18 CONFIDENTIAL#19Customer ARR expansion case studies $ in millions Global Pharmaceutical Company $0.1 32x Increase $0.3 $0.8 $4.6 1Q FY20 FY20 1Q FY21 4Q FY21 Rapid adoption of citizen developers driving vision of fully automated enterprise Leading Global Logistics Company $0.4 6x Increase $1.5 $1.9 $2.8 FY18 FY19 FY20 4Q FY21 Expansion across country operations in four continents Notes: 1. Fiscal year end January 31 2. Figures represent Annualized Renewal Run-rate (ARR): sae Appendix for definition of Annualized Renewal Run-rate (ARR) 3. 10 FY20 represents ARR as of April 30 2019: 10 FY21 represents ARR as of April 30, 2020:20 FY21 represents ARR as of July 31, 2020 Canadian Public Sector Agency $0.03 69x Increase $0.1 $0.5 $2.1 FY20 1Q FY21 2Q FY21 4Q FY21 Rapid expansion in less than one year Leading Automotive Manufacturer $0.3 FY19 Reboot Ui Path Work 4x Increase $0.7 $0.8 $1.2 FY20 1Q FY21 4Q FY21 Adopted Automation Cloud, Automation Hub and Process Mining to accelerate expansion 19 CONFIDENTIAL#203 Speed of innovation, depth of technology and breadth of ecosystem drive market leadership Ui Path Reboot Work. 20 CONFIDENTIAL#21Speed of innovation and rapid releases drive our market leadership UiPath innovates at an incredible pace, prioritizing our most important needs for success, from security to scalability. Al Computer Vision UI Automation Chief Automation Officer Global Media and Digital Communications Leader API Automation Low-Code/No-Code Pre-2015 Workflow Orchestration 3rd-Party Integration Framework Developer Productivity (Libraries, Upgrades, Reusability) Marketplace/Community Automation Cloud Document Understanding Insights Action Center Al Center Assistant Automation Hub Process Mining StudioX Task Capture Test Automation Apps Data Service DISTRIBUTION.CO p 2021 Reboot Ui Path Work The Fully Automated Enterprise 21 CONFIDENTIAL#22Proprietary technology enhances the power of our platform UI + API automation and Al Computer Vision Loon Application Human emulation Adaptable to changing variables Resiliency Discover Build Orchestration and cross platform integration End-to-end Seamless integrations Monitoring and analytics Manage Run UiPath end-to-end platform Reboot Ui Path Work Modern and democratized development platform Engage Intuitive and easy to use Rapid time-to-value Widespread deployment Measure & Govern 22 CONFIDENTIAL#23A vibrant community with a deep commitment to workforce readiness and education Democratized training 800,000+ Academy users 750+ Colleges and universities Highly active community come to UiPath Marketplace Bandie ~10,000 User-initiated downloads per month 83,000+ UiPath Forum Participants Note: 1, Linkedin Emerging Jobs Report 2020. US industry Trends represents a 40% compound annual growth rate in job postings from 2015 to 2019 2. State of the RPA Developer Report 2020, UPath: according to the survey 84% of respondants boleve that having RPA skills would positively impact their future career moves Reboot Ui Path Work Driving explosive growth in new jobs 2020 Emerging Jobs Report 40%+ CAGR Robotics Engineer jobs (LinkedIn) 84% View RPA skills as positive for next job "Perhaps the most valuable feature of UiPath is the community that supports it. The network around the product is amazing. Head of Business Innovation & Chief Data Officer, TD Securities 23 CONFIDENTIAL#24Extensive ecosystem of 3,700+ partners increases reach and leverage A Adobe · Technology partners ● aws box DocuSign Google Cloud DataRobot ORACLE salesforce CYBERARK DocuSign citrix IBM servicenow alteryx+ableau workday. SAP Microsoft Open, interoperable, and extensible platform Co-innovation delivers value added solutions to customers Accelerate innovation and automation outcomes Enable faster time-to-value Cognizant ASHLING PARTNERS dentsu tcs TATA CONSULTANCY SERVICES Business partners CGI Capgemini <epam> Deloitte. protiviti EY accenture Reboot Ui Path Work Tech Mahindra pwc Enable digital transformation journeys Enhance market presence Drive sales and operational efficiencies Improve customer experience and satisfaction wipro 24 CONFIDENTIAL#25Entrepreneurial and experienced team... Daniel Dines Co-Founder & Chief Executive Officer TEC Microsoft Ashim Gupta Chief Financial Officer Philippe Botteri Partner at Accel Accel 6) DETENTION OF ..Supported by a world-class board Carl Eschenbach General Partner at Sequoia SEQUOIA Michael Gordon CFO and COO at MongoDB mongoDB Ted Kummert EVP, Product & Engineering APPTIO Microsoft Kim Hammonds Senior Advisor Deutsche Bank Thomas Hansen Chief Revenue Officer Carbon Black. **Dropbox Tom Mendoza Former President and Vice Chairman at NetApp NetApp Dan Springer CEO & President at Docusign DocuSign Bobby Patrick Chief Marketing Officer Hewlett Packard Enterprise accenture Reboot Ui Path Work Andreea Baciu VP Global Talent Development 0₂ Laela Sturdy General Partner Jennifer Tejada Chairperson and at CapitalGCEO at PagerDuty capitalG PagerDuty AVON Rich Wong General Partner at Accel Accel 25 CONFIDENTIAL#264 Growth at scale, strong unit economics & operating rigor Ui Path Reboot Work. 26 CONFIDENTIAL#27Financial highlights Rapid growth at scale 65% YOY ARR growth Expanding existing customers 145% 1,000+ Customers with $100K+ ARR Dollar-based net retention rate Global customer base of 7,960+ Notes: 1. All data as of January 31, 2021 unless otherwise indicated 2. See Appendix for definition of Annualized Renewal Run rale (ARR) YOY ARR growth rate as of January 31, 2021 3. As of January 31, 2021, see Appendix for definition of dotar-based net retention rate Sustainable gross margin 95% Software gross margin 4. Customers 2 $100K ARR inclusive of customers 2 $1 Million 5. Software gross margin defined as gross margin from licenses and maintenance and support, and excludes gross margin from services and other 6. Free cash flow is a non-GAAP measure; see Appendix for a reconciliation to the nearest GAAP measure Reboot Ui Path Work Increasing operating leverage saumon on 4% Free cash flow margin 27 CONFIDENTIAL#28Our business model 01 Subscription model, billed annually in advance Notes: 1. See Appendis for definition of - (ARR) 02 Primarily 1-year contracts 03 We manage and measure our business based on ARR Ui Path Work U Pricing based on number of robots and users 28 CONFIDENTIAL#29Customer adoption and commercial execution driving growth Rapidly growing ARR ($ in millions) ¹²¹ 86% CAGR $169 FY19 $351 FY20 $580 Notes: 1. Fiscal year end January 31 2. See Appendix for definition of Annualized Renewal Run-rate (ARR) 3 Custorvers > S100K ARR ochutive at customers > S1 Mon ARR FY21 Scaling large customers (Customers > $100K ARR) Increase 305 FY19 597 FY20 1,002 FY21 Becoming C-Suite priority (Customers 2 $1 million ARR) 21 FY19 Growth 43 FY20 Efficiently acquiring customers and driving rapid expansion Reboot Ui Path Work 89 FY21 29 CONFIDENTIAL#30Attractive land-and-expand model $600 $500 $400 $300 $200 $100 $0 FY16 81x median ARR multiple for top 50 customers FY17 FY15 Cohort analysis ($M ARR) FY16 FY18 FY17 FY18 FY19 FY19 FY20 FY21 FY20 Notes: 1. Fiscal year end January 31 2. Each cohort represents customers that made their intel purchase from us in a given fiscal year. ARR is not intended to be a replacement or forecast of revenue and should be viewed independently of revenue and does not represent our GAAP revenue on an annualized basis. See Appendix for additional information. Reboot Ui Path Work FY21 30 CONFIDENTIAL#31Continuing to invest in growth while driving operating leverage Non-GAAP operating margin" FY20 (113%) FY21 (4%) Notes 1. Facal year end January 31 2. See Appendia for definition and reconciliation of Non-GAAP Operating Margin and Non-GAAP Free Cash Flow Margin Non-GAAP free cash flow margin 4% FY20 (113%) CUL FY21 Reboot Ui Path Work Strategically invested to scaling global business and disrupt large and growing market Continually driving sales efficiency through customer segmentation and finding best talent Improving customer unit economics while capitalizing on significant market opportunity Instilled operating rigor through strong cross- functional rhythms to monitor & prioritize investments 31 CONFIDENTIAL#32Multiple vectors for future growth حبا Land new customers using breadth of product platform Accelerate flywheel to drive customer expansion Launch new products and develop new go-to-market alliances Foster and grow our community and continue to invest in our partners Opportunistically pursue M&A DISCOVER ENGAGE GOVERN RUN MEASURE BUILD MANAGE Reboot Ui Path Work 32 CONFIDENTIAL#33Long-term operating model % of Total Revenue Expense Category Non-GAAP gross margin Non-GAAP sales & marketing Non-GAAP research & development Non-GAAP general & administrative Non-GAAP operating margin FY20 83% 136% 26% 35% (113%) FY21 90% 60% 16% 17% (4%) Long-term profile" 80%+ Reboot Ui Path Work 30%-35% 12% - 18% 7% -9% 20%+ Notes: 1. Fiscal year ended January 31 2. Excudes stock-based compensation & other Non-GAAP adjustments (see appendix for GAAP reconciliation) 3. Reflects our long-term targets, which are not projections or astimates of future financial results. Our ability to achieve thase long-term targets is subject to various risks and uncertainties. There are important factors that could cause our future results to differ materially from those suggested by these long-term targets, including, but not limited to the raks and uncertainties desorbed under the heading Risk factors in the prospectus for the offering to which this presentation relates. There can be no assurance that we will achieve the long-term targets presented on the slide in a tmely manner or at all Please see Slide 2 for additional information regarding forward-looking statements 33 CONFIDENTIAL#34Ui Path The automation software company HUMBLE BOLD IMMERSED Our Culture FAST 34 CONFIDENTIAL#35Appendix Ui Path Reboot Work. 35 CONFIDENTIAL#36The UiPath platform for the fully automated enterprise GOVERN Path AUTOMATION CLOUD DISCOVER BUILD MANAGE RUN ENGAGE MEASURE aws AO PUBLIC CLOUD HYBRID ON-PREMISES Scientifically identify and enable employees to submit automation ideas </> Process Mining Automation HubCUTION Task Mining Build and test automations quickly from the simple to the advanced Studio Family Document Understanding Manage, deploy, optimize and test automations and Al at enterprise scale Orchestrator Test Manager Al Center Run automations on the desktop, in the cloud or a virtualized back office Unattended Robots Attended Robots Insights Bring people and robots together for seamless end-to-end collaboration Apps Action Center Chatbots Reboot Ui Path Work 36 CONFIDENTIAL#37Definitions Ui Path Work Annualized renewal run-rate (ARR): We define ARR as annualized invoiced amounts per solution sku from term subscription licenses and maintenance obligations assuming no increases or reductions in their subscriptions. ARR does not include the costs we may incur to obtain such subscription licenses or provide such maintenance, and does not reflect any actual or anticipated reductions in invoiced value due to contract non-renewals or service cancellations other than for specific bad debt or disputed amounts. Dollar-based net retention rate: We calculate dollar-based net retention rate as of a period end by starting with the ARR from the cohort of all customers as of 12 months prior to such period-end, or the Prior Period ARR. We then calculate the ARR from these same customers as of the current period-end, or the Current Period ARR. Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months, but does not include ARR from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the point-in-time dollar-based net retention rate. Non-GAAP Free Cash Flow: Free cash flow represents net cash used in operating activities, increased by capital expenditures and capitalized software development costs, if any. Free cash flow is a measure used by management to understand and evaluate our liquidity and to generate future operating plans. The reduction of capital expenditures and amounts capitalized for software development facilitates comparisons of our liquidity on a period-to-period basis and excludes items that we do not consider to be indicative of our liquidity. Management believes that free cash flow is a measure of liquidity that provides useful information to our management, investors, and others in understanding and evaluating the strength of our liquidity and future ability to generate cash that can be used for strategic opportunities or investing in our business. Non-GAAP Operating Loss and Non-GAAP Operating Margin: We define non-GAAP operating loss and non-GAAP operating margin as GAAP operating loss and GAAP operating margin, respectively, excluding stock-based compensation expense and amortization of acquired intangible assets. We believe non-GAAP operating loss and non-GAAP operating margin provide our management and investors consistency and comparability with our past financial performance and facilitate period-to-period comparisons of operations, as these metrics generally eliminate the effects of certain variables unrelated to our overall operating performance. 37 CONFIDENTIAL#38GAAP to Non-GAAP reconciliation Total gross profit margin (SM) Revenue GAAP gross profit GAAP gross margin % GAAP gross profit Add: Stock-based compensation expenses Amortization of acquired developed technology Non-GAAP gross profit Non-GAAP gross margin % Notes: 1. Fiscal year end January 31 EUNLI FY20A $336 277 82% 277 3 1 280G 83% Ui Path Work FY21A $608 542 89% 542 2 3 547 90% 38 CONFIDENTIAL#39GAAP to Non-GAAP reconciliation (cont'd) Total operating expenses ($M) Revenue Sales and marketing GAAP S&M expense GAAP S&M expense as % of revenue Less: Stock-based compensation Non-GAAP S&M expense Non-GAAP S&M expense as % of revenue Research and development GAAP R&D expense GAAP R&D expense as % of revenue Add: Stock-based compensation Non-GAAP R&D expense Non-GAAP R&D expense as % of revenue General and administrative GAAP G&A expense GAAP G&A expense as % of revenue Add: Stock-based compensation Non-GAAP G&A expense Non-GAAP G&A expense as % of revenue Notes: 1. Fiscal year and January 31 FY20A $336 483 144% 27 456 136% 131 39% 45 86 26% 180 53% 63 117 35% FY21A $608 380 62% 16 364 60% Ui Path Work 110 18% 11 99 16% 162 27% 56 106 17% 39 CONFIDENTIAL#40GAAP to Non-GAAP reconciliation (cont'd) Total operating margin ($M) Revenue GAAP operating loss GAAP operating margin % GAAP operating loss Add: Stock-based compensation expenses Amortization of acquired intangible assets Non-GAAP operating loss Non-GAAP operating margin % Notes: 1. Fiscal year end January 31 FY20A $336 (517) (154%) (517) 137 1 (379) (113%) MARUZEL Ui Path Work FY21A $608 (110) (18%) (110) 86 3 (22) (4%) 40 CONFIDENTIAL#41Free cash flow bridge Total free cash flow ($M) Revenue Net cash flows (used in) provided by operating activities Add: Purchases of property and equipment Add: Capitalized software development costs Non-GAAP free cash flow Non-GAAP free cash flow margin % Net cash used in investing activities Net cash provided by financing activities Notes: 1. Fiscal year end January 31 FY20A $336 (359) (16) (5) (380) (113%) (40) 458 Ui Path Work FY21A $608 PRIIT 29 (2) (1) 26 4% (126) 250 *************** CONFIDENTIAL