Udemy Results Presentation Deck

GAAP to Non-GAAP Reconciliation Adjusted EBITDA ($ in thousands) Net loss Adjusted to exclude the following: Interest (income) expense, net Provision for income taxes Depreciation and amortization Stock-based compensation expense Other expense, net Adjusted EBITDA 36 $ Ś Three Months Ended March 31, 2022 2021 (25,649) $ (243) 332 4,967 13,342 244 (7,007) $ (17,989) 218 905 3,069 10,512 428 (2,857) ûdemy

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