Upwork Investor Presentation Deck

Upwork at a Glance As of March 31, 2022 793K Active Clients Gross Services Volume (GSV) ($M) $2,524 2020 41% 1 Ⓒ2022 Upwork Inc. $3,547 $4,742 GSV per Active Client 2021 $787 Q1'21 27%1 Q1'22 Investor Presentation $1,001 Q1'22 Revenue ($M) April 2022 $374 2020 35%↑ $503 2021 $114 Note: Adjusted EBITDA is a non-GAAP measure. See appendix for the definition of GSV, Active Clients, and GSV per Active Client. 24%↑ Q1'21 $141 Q1'22 Adjusted EBITDA ($M) $14.0 2020 $19.1 2021 $6.9 Q1'21 $(0.4) Q1'22 22

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