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GAAP Operating Cash Flow Reconciliation to Free Cash Flow (in Millions) 2016 2017 2018 2019 2020 Net Cash provided by Operating Activities $3.9 $7.7 $7.3 $12.1 $35.6 Less: Purchase of property and equipment $(0.7) $(0.4) $(0.9) $(1.0) $(1.1) Free Cash Flow $3.2 $7.3 $6.4 $11.0 $34.5 Upland defines free cash flow as GAAP operating cash flow less purchases of property and equipment. 31

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