Upwork Investor Day Presentation Deck

SEM Non-brand, SEO Non-brand Growth (2019-2020) FJP¹ Q1-2019 Q2-2019 ¹ See appendix for the definition of first job post (FJP). SEM overhaul began Q3-2019 Test Google tROAS non-brand SEM SEO optimization began Q4-2019 Test Google tROAS int'l + mobile SEM Q1-2020 All non-brand SEM TROAS Q2-2020 SEM Non-brand SEM broad match + new countries + proprietary bidding tool Q3-2020 SEO Non-brand Mobile + int'l expansion Q4-2020 54

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