Udemy Results Presentation Deck

Consumer Q4'21 Revenue $80.2M 1.4M +3% y/y +1% y/y Revenue 30 $78.1 46% Q4'20 Y/Y +34% Segment Gross margin $87.9 $84.0 52% Q1'21 Monthly Average Buyers +23% 54% Q2'21 (2%) $79.2 53% Q3'21 (13%) (in millions) $80.2 49% Q4'21 3% Return to positive growth in Q4'21 • Robust traffic with >32M unique visitors per month, over 1.3x pre-pandemic levels¹ Y/Y: Monthly Average Buyers 1,316 1,411 11 Q1'21 1,373 Q4'20 +22% +11% Q2'21 (26%) Note: Segment margins exclude stock-based compensation, depreciation and amortization. Compares average monthly unique visitors during the quarter ended December 31, 2021 to average monthly unique visitors during the quarter ended December 31, 2019. 1,263 Q3'21 (6%) (in thousands) 1,388 Q4'21 1% ûdemy

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