PowerSchool Investor Presentation Deck

Significant Progress on Deleveraging Long-term Net Leverage Target $1,454 10.1x 1Q21 PowerSchool Net debt $1,461 9.0x Reduced net debt by 55% post-IPO 2Q21 Net leverage ratio (TTM) $651 4.1x 3Q21 3x - 4x During Q3 2021, used IPO proceeds and cash from operations to repay in full: $320M outstanding principal on Bridge Loan $365M on Second Lien term loans $95M on Revolver $69.1M on Incremental Facility Only First Lien term loans remain outstanding, with July 2025 maturity Predictable recurring revenue, stable customer base and profitable business model create comfort in operating with debt balance Note: Net leverage ratio defined as net debt at end of period divided by adjusted EBITDA over the trailing twelve months. Net debt is defined as total debt less cash and cash equivalents. 20

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