monday.com Investor Presentation Deck

Operating leverage while investing in growth Quarterly expenses as a % of revenue (40%) 100% 18% 11% Q1-22 (12%) 70% 19% 12% Q2-22 (2%) 60% 19% 11% Q3-22 10% Note: Non-GAAP financial measures, see Appendix. 54% 16% 10% Q4-22 (0%) 63% 18% 10% Q1-23 Operating margin S&M as % of revenue Annual expenses as a % of revenue (53%) 113% 19% 9% FY-20 R&D as % of revenue (17%) 79% 17% 11% FY-21 G&A as % of revenue (9%) 69% 18% 11% FY-22

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