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 (income), net Adjusted EBITDA 39 $ $ Three Months Ended December 31, 2021 2020 (27,035) $ 68 888 3,243 8,166 (17) (14,687) $ (38,884) $ (436) 669 4,897 10,976 206 (22,572) $ Fiscal Year Ended December 31, 2020 (77,620) $ 1,146 3,149 11,055 31,618 (55) (30,707) $ 2021 (77,526) 16 1,183 15,297 34,680 920 (25,430) ûdemy

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