Docebo Investor Presentation Deck

125 100 75 50 25 0 -25 (1) (2) $11M $1M 2016 $18M $4M 2017 Capital efficient growth Free cash flow $3M Total ARR (USD) $74M ...l $47M $30M $4M $5M 2018 2019 $118M 2020 $4M 2021 ~US$13M Cash burn since 2016 to grow ARR2 to US$118M at the end of 2021 Cash flow from operating activities less additions to property and equipment. See the Appendix for a reconciliation of free cash flow to cash flow from operating activities under IFRS for the periods presented. Represents the accumulated free cash flow burn since Docebo received its initial investment from Intercap and Klass in 2015.

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