Udemy Investor Presentation Q4 2022

Best-in-class customer Net Dollar Retention Rate (NDRR) 115% 123% Udemy Business NDRR Udemy Business Large Customer NDRR Udemy Business Net Dollar Retention Rate (NDRR) represents ARR for Udemy Business customers at the end of the 12-month period divided by the total ARR for those Udemy Business customers at the beginning of that 12-month period. Large Customer NDRR is calculated as the total UB Large Customer ARR at the end of a trailing twelve-month period divided by the total Large Customer ARR at the beginning of a trailing twelve-month period for the cohort of UB customers with at least 1,000 employees active at the beginning of the trailing twelve-month period. Data as of December 31, 2022 18 Ûdemy

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