Financial Highlights and Margin Progression

Unlevered Free Cash Flow. (in $ millions on a trailing twelve-month basis) TTM Unlevered FCF¹ TTM Unlevered FCF as a % of Rev 1% 0% (0%) (0%) (1%) $9.0 $2.5 (4%) (4%) ($3.7) ($5.2) (7%) ($9.9) ($44.2) ($33.9) ($34.1) 1% $11.5 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 1Q'22 2Q'22 20 edx (1) Unlevered free cash flow is a non-GAAP financial measure. Refer to the Appendix for a reconciliation of non-GAAP financial measures to their most comparable GAAP measure. 10

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