monday.com Investor Presentation Deck

Improving operating leverage Expenses as a % of revenue (91%) 148% 20% 9% FY-19 (53%) 113% 19% 9% FY-20 * Non-GAAP financial measures, see Appendix. (40%) 100% 19% 10% Q1-21 (14%) 79% 16% 9% Q2-21 (11%) 73% 17% 11% Q3-21 Operating Margin* S&M as % of Revenue* R&D as % of Revenue* G&A as % of Revenue*

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