monday.com Results Presentation Deck

Improving operating leverage Quarterly Expenses as a % of revenue* (47%) 107% 18% 10% Q4-20 (40%) 100% 19% 10% Q1-21 (14%) 79% 16% 9% Q2-21 (11%) 73% 17% 11% Q3-21 Operating Margin* * Non-GAAP financial measures, see Appendix. (10%) 73% 16% 12% Q4-21 S&M as % of Revenue* Annual Expenses as a % of revenue* R&D as % of Revenue* (91%) 148% 20% 9% FY-19 (53%) 113% 19% 9% FY-20 G&A as % of Revenue* (17%) 79% 17% 11% FY-21

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