Financial Highlights and Margin Progression

FY'22 Guidance Adjusted EBITDA Reconciliation. (in $ millions) Reconciliation of non-GAAP adjusted EBITDA to GAAP net loss Net loss Adjustments: Stock-based compensation expense Other (income) expense, net Amortization of acquired intangible assets Impairment charges Restructuring Other Adjusted net loss Net interest expense Income tax expense (benefit) Depreciation and amortization expense Adjusted EBITDA * Reflects the midpoint of our FY'22 guidance range FY'22 Guidance* $(235.0) 79.0 2.0 65.0 59.0 24.0 2.0 (4.0) 60.0 (1.0) 55.0 $110.0 2U 20 15

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