Financial Highlights and Margin Progression

1 2 3 20 edx We are radically changing 2U by accelerating our transition as a platform company Demonstrated significant improvement in profitability with $21.9 million in adjusted EBITDA¹ Key Takeaways. We now expect to reduce our total expense run rate by $70 million, expand our EBITDA margins by 400 bps and drive positive free cash flow. (1) Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. Refer to the Appendix for a reconciliation of non-GAAP financial measures to the most comparable GAAP measures. 11

View entire presentation