Semrush Investor Presentation Deck

Long-term target operating model Gross Margin Sales & Marketing Research & Development General & Administrative Operating Loss Non-GAAP Net Loss 2019 76% 45% 15% 24% (9%) (8%) 2020 76% 44% 14% 23% (5%) (4%) 2021 78% 43% 13% 23% (1%) (0%) Note: All metrics are calculated as a percentage of revenue. Non-GAAP net loss excludes stock-based compensation expense. 2022 81% 49.9% 16.2% 24.7% (14.3)% (10.4)% Target Model 80% 35% 15% 10% 20% >20%

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