Strong Retention & Customer Loyalty Rapid Revenue Growth Powerful Saas Model 112% 18x 82% 87% Subscriber Growth Subscription CY19 – CY20E 4Q20 Net Revenue CY18-CY20E Gross Margin Retention Profitable Unit Economics Accelerating Subscription Mix Growth in Gross Margin +3300 bps +1700 bps 12x 53% 86% 56% 73% Subscription as % of Total Revenue CY20E Lifetime Value (“LTV”)/ Customer CY20E CY25E CY20E CY25E Acquisition Cost (“CAC”) Notes: CY19 subject to adjustment Subscription gross margin is 2020E and is calculated as subscription revenue less cost of goods sold for subscription, excluding amortization of capitalized software Gross margin estimates for CY20-CY25 exclude stock-based compensation expense Net revenue retention compares the revenue from active subscriber accounts in 4Q19, excluding variable revenue, to the revenue generated in 4Q20 by those same accounts Subscription revenue mix is calculated as subscription plus license revenue divided by total revenue LTV / CAC is calculated as the quotient of the product of the average subscription revenue per subscriber multiplied by subscription gross margin and revenue churn rate, divided by the quotient of sales and marketing expense and total new paid subscribers 23