Udemy Results Presentation Deck

Consumer Q1'22 Revenue $87.3M 1.4M -1% y/y -2% y/y Y/Y: 29 Revenue $87.9 52% Q1'21 +23% Segment Gross margin $84.0 $79.2 54% Q2'21 Monthly Average Buyers (2%) 53% Q3'21 (13%) $77.7 48% Q4'21 (1%) (in millions) $87.3 54% Q1'22 (1%) ● Monthly Average Buyers stable in Q1'22 • Robust traffic with >32M unique visitors per month, above pre-pandemic levels¹ Y/Y: 1,411 Q1'21 +11% Monthly Average Buyers 1,316 1,263 Q2'21 (26%) Note: Segment margins exclude stock-based compensation, depreciation and amortization. Compares average monthly unique visitors during the quarter ended March 31, 2022 to average monthly unique visitors during the quarter ended March 31, 2020. Q3'21 (6%) 1,388 Q4'21 1% (in thousands) 1,383 Q1'22 (2%) ûdemy

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