Investor Presentaiton

Attractive unit economics support investing in growth and scaling existing markets Existing business has rapidly accelerating unit economics from CY19 to CY20E 4.7x growth of LTV / CAC 70% improvement in CAC Payback Notes: 2.5 CY19 LTV / CAC 11.7 CY20E CAC Payback in Months 30.6 CY19 9.3 CY20E LTV/CAC is calculated as the quotient of the product of the average subscription revenue per subscriber multiplied by subscription gross margin and revenue churn rate, divided by the quotient of sales and marketing expense and total new paid subscribers CAC Payback is calculated as the quotient of sales and marketing expense and new subscribers, divided by the product of average subscription revenue per subscriber multiplied by subscription gross margin CY19 subject to adjustment Subscription gross margin excludes amortization of capitalized software and stock-based compensation expense 25

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