Accolade Investor Presentation Deck

29 Adjusted Operating Expense Reconciliation ($ in thousands) Fiscal year ended February 28 (29), Revenue Operating Expenses Less: Depreciation and amortization Stock-based compensation Acquisition, integration-related costs and other Adjusted Operating Expenses Adjusted Operating Expenses as a % of Revenue 2019 $ 94,811 88,220 (9,391) (5,721) $ 73,108 77% 2020 $ 132,507 107,026 (8,516) (6,002) (567) $ 91,941 69% 2021 $ 170,358 123,462 (8,212) (9,576) (2,050) $ 103,624 61%

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