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 40 $ $ Three Months Ended June 30, 2022 2021 (29,380) $ (127) 308 5,233 14,732 672 (8,562) $ (11,391) $ 173 154 3,387 5,972 90 (1,615) $ Six Months Ended June 30, 2022 2021 (55,029) $ (370) 640 10,200 28,074 916 (15,569) $ (29,380) 391 1,059 6,457 16,484 518 (4,471) ûdemy

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