Udemy Investor Presentation Q4 2022

Track record of strong revenue growth and gross margin expansion 32% Revenue growth CAGR 900 bps Gross margin* expansion *Non-GAAP metric. Please see Appendix for reconciliation. 26 Consumer revenue Udemy Business revenue Non-GAAP gross margin* Y/Y $430M $516M $629M 58% $276M 55% 51% 48% 2019 2020 2021 2022 56% 20% 22% Ûdemy

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