Skillz Investor Presentation Deck

BUSINESS MODEL GAMER 1 YOU WIN! GAMER 2 YOU LOSE $0.60 Entry Fee $0.60 Entry Fee $1.20 Gross Marketplace Volume ($1.01) Prizes, Incentives & Dev Profit Share $0.19 x 94% $0.18 $0.16 $0.02 Revenue (16% take-rate) Gross margin Gross profit OpEx (excl. SBC, D&A, non-recurring items and UA) Adj. EBITDA before UA (13% of Revenue) Note: All dollar amounts are illustrative and based on actual take-rate and margin structure and reflect rounding. The Company defines and calculates Adjusted EBITDA as net income (loss) before interest, other non-operating expense or income, (benefit) provision for income taxes, and depreciation and amortization, and further adjusted for stock-based compensation and other special items determined by management, including, but not limited to, fair value adjustments for certain financial liabilities (including derivatives) associated with debt and equity transactions, impairment charges, acquisition related expenses for transaction costs and certain loss contingency accruals. D&A means Depreciation and Amortization. UA or UA Marketing is the total cost to acquire new users in that skillz period. UA Marketing was $242.2 million in 2021. See Appendix for a reconciliation of Adjusted EBITDA to the most comparable GAAP metrics. 15

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