Upwork Investor Day Presentation Deck

Our Large Base of Core Clients Is Also Driving GSV Growth >80% of GSV on our platform comes from core clients, (1) which represent >20% of total clients(2) Notes: (1) See appendix for the definition of core clients. (2) As of 2021. Core Clients (Thousands) Core Clients (1) & YoY Growth 150 125 100 75 50 25 0 77 3% 2016 86 13% 2017 106 22% 2018 124 18% 2019 145 17% 2020 152 18% Q1-2021 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% YOY Growth 106

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