Udemy Investor Presentation Q4 2022

32 Investment Highlights 1) Addressing a massive and growing TAM with a unique business model 2) Since 2019, Udemy delivered a 32% revenue CAGR, and expanded non-GAAP gross margin¹ by more than 900 basis points 3) Long runway for growth, driven by proven land-and-expand model for Udemy Business and macro tailwinds 4) Clear path to profitability and compelling long-term targets 1. Non-GAAP metric. Please see Appendix for reconciliation. Ûdemy

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