#111.monday.com Investor day 2023 domol ol#2Agenda. Opening remarks Byron Stephen - Director, Investor Relations Strategic vision Roy Mann & Eran Zinman - Co-Founders & Co-CEOs Product strategy Daniel Leyera -Chief Product & Technology Officer Go-to-market overview Yoni Osherov - Chief Revenue Officer Financial strategy Eliran Glazer - Chief Financial Officer Q&A 01 02 03 04 05 06 11.monday.com#3Safe harbor This presentation has been prepared by monday.com Ltd. ("we," "us," "our," "monday.com" or the "Company"). This presentation (including oral commentary that accompanies this presentation) contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding our financial outlook and market positioning. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections, as well as the beliefs and assumptions of management. Words such as "outlook," "guidance," "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond monday.com's control. monday.com's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including, but not limited to, our limited operating history, fluctuations in operating results, and the fact that we derive a majority of revenues from a single product; our history of net losses and risks related to our ability to achieve or maintain profitability and manage our growth or business plan effectively; foreign currency exchange rate fluctuations; real or perceived errors, failures, vulnerabilities or bugs or interruptions or performance problems in the technology or infrastructure underlying our platform; our ability to attract customers, grow our retention rates and expand usage within organizations; risks related to our subscription- based business model; our ability to offer high-quality customer support and consistent sales strategies; our ability to enhance our reputation, brand, and market awareness of our products; risks related to international operations; difficulties in integration of partnerships, acquisitions and alliances; risks associated with environmental and social responsibility; our ability to attract and retain highly skilled employees; our ability to raise additional capital or generate cash flows necessary to grow our business; our ability to generate new capabilities to compete in a market that is new and rapidly changing; uncertain global economic conditions; the ability of our Work OS to interoperate with a variety of software applications; our dependence on third parties for web engine searches, the maintenance of our infrastructure, the hosting of our platform, and mobile application distribution; risks related to security disruptions, unauthorized system access and evolving privacy laws and regulations; the novelty of our Digital Lift Initiative; changes in tax law and regulations; our ability to maintain, protect or enforce our intellectual property rights or risks related to claims that we infringe the intellectual property rights of others; risks related to the use of Al and Al-related products; risks related to our use of open-source software; risks related to our founder shares that provide certain veto rights; risks related to our status as a foreign private issuer located in Israel, including those related to the ongoing war between Israel and Hamas; our expectation not to pay dividends for the foreseeable future; risks related to legal and regulatory matters; and other factors described in "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2022, filed with the SEC on March 14, 2023. Further information on potential risks that could affect actual results will be included in the subsequent filings that monday.com makes with the Securities and Exchange Commission from time to time. Past performance is not necessarily indicative of future results. The forward-looking statements included in this presentation represent monday.com's views as of the date of this presentation. monday.com anticipates that subsequent events and developments will cause its views to change. monday.com undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing monday.com's views as of any date subsequent to the date of this presentation. This presentation contains certain supplemental financial measures that are not calculated pursuant to GAAP. The Company believes that these non-GAAP financial measures, when presented in conjunction with comparable GAAP measures, provide useful information about its operating results and enhance the overall ability to assess the Company's financial performance. These non-GAAP financial measures are in addition to, and not as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their most directly comparable GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. 11.monday.com#4monday.com Strategic vision Roy Mann & Eran Zinman Co-Founders & Co-CEOs#5A Traditional work software is broken. Businesses are unable to fulfill their potential because their software is limiting their ability to execute Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#6Businesses have two bad options ●● Rigid off-the-shelf point solutions Usually designed for SMBs and don't enable scaling. Strategic vision | Product strategy | Go-to-market overview | Financial strategy .. A Complex enterprise software Huge implementation and maintenance costs. Implementation takes a long time and is very costly. Changes are slow and dependent on tech teams. 11.monday.com#7Ultimately, it slows them down. Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#8What is monday.com? A platform to run the core of all work. monday work management monday Work OS platform powered by mondayDB Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday sales CRM 11.monday.com#9It's been an amazing journey so far FY23 estimates $835M+ Annual recurring revenue (ARR)* ~40% Revenue growth* *** 2M+ Monthly active paying people (MAPP)* ~225K Customers Strategic vision | Product strategy | Go-to-market overview | Financial strategy ~25% Free cash flow margin** $1.0B+ Cash and cash equivalents *For definitions of ARR and MAPP, see Appendix **Non-GAAP financial measures ***FY23 guidance calls for YOY revenue growth of 39%-40% ~7% Non-GAAP operating margin** 1,800+ Employees 11.monday.com#10We have quickly built a strong, diverse customer base Total customers 90K 2019 114K 2020 152K 2021 186K 2022 ~225K 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy +26% Customers CAGR 2019-2023F 11.monday.com#11Spanning across 200+ industries Construction O. Finance Marketing Technology Consulting Healthcare Real estate Telecoms Strategic vision | Product strategy | Go-to-market overview | Financial strategy Design HR Retail & many more... Education Industrials Publishing Legal [4]. Energy Media 11.monday.com#12In 200+ markets around the world % of revenue in Q3 2023 North America 54% LatAm 6% Strategic vision | Product strategy | Go-to-market overview | Financial strategy Europe 26% MEA 6% Note: data as of the end of Q3 FY23 APAC 9% 11.monday.com#13Our vast customer base enables us to grow fast Total revenue $78M 2019 $161M 2020 $308M 2021 $519M 2022 ~$725M 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy +75% Revenue CAGR 2019-2023F Note: FY23 guidance calls for total revenue of $723M-$725M 11.monday.com#14While improving efficiency Operating margin Non-GAAP (91%) 2019 (53%) 2020 (17%) 2021 (9%) 2022 ~7% 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy +9,800 bps Operating margin improvement 2019-2023F 11.monday.com#15The drivers of our product success Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#16monday.com is unique. Built like no other software. Platform Built as a true platform, with all Work OS products sharing a common code base Full control Allows customers to adapt the software on their own, giving them full control Strategic vision | Product strategy | Go-to-market overview | Financial strategy Flexible & simple Able to scale with the business and adapt to changing needs 11.monday.com#17monday.com is unique. Built like no other software. Platform Built as a true platform, with all Work OS products sharing a common code base t↓t Full control Allows customers to adapt the software on their own, giving them full control Strategic vision | Product strategy | Go-to-market overview | Financial strategy Flexible & simple Able to scale with the business and adapt to changing needs 11.monday.com#18monday.com is unique. Built like no other software. Platform Built as a true platform, with all Work OS products sharing a common code base Full control Allows customers to adapt the software on their own, giving them full control Strategic vision | Product strategy | Go-to-market overview | Financial strategy Flexible & simple Able to scale with the business and adapt to changing needs 11.monday.com#19the platform is the product & the product is the platform Strategic vision | Product strategy | Go-to-market overview | Financial strategy 1. monday Team planning Team progress overview ● Working on it Stuck Done Owner Board view C When Status changes to for review, create an update in item + Add to board 11.monday.com#20Multi-product strategy Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#21Our current multi-product offering monday WorkCanvas monday WorkForms monday work management monday Work OS platform powered by monday DB Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday sales CRM#22Their early growth has been phenomenal O monday sales CRM ARR growth vs. monday.com 5 sales CRM - 22X monday.com - 6x 10 # of months after wide release Strategic vision | Product strategy | Go-to-market overview | Financial strategy 15 O monday dev ARR growth vs. monday.com 2 4 6 dev - 4X monday.com - 4X 8 # of months after wide release 10 11.monday.com#23• Ticket management monday service Home My Work C Services Search IT Help desk Incidents Tickets dashboard Getting Started Q + monday service • Portal • SLA management • CSAT + Add widget Tickets dashboard Unresolved 40% 30% Tickets per category 20% 55 0% Introducing Search COMING SOON! Overdue 4 Due today 11 Person 2+ Y Filter v Open 28 Working on it ● Asset management Q Stuck ? 11. + Share/1 On hold Ticket reviewing progress 28 ● Reviewed 11.monday.com#24Expanding our product offering monday WorkCanvas monday WorkForms monday work management monday dev monday sales CRM Work OS platform powered by mondayDB Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday service#25Large and growing Total Addressable Market (TAM) 14% CAGR $101B 2023 $150B 2026F WM $45B Strategic vision | Product strategy | Go-to-market overview | Financial strategy CRM $30B DEV $17B SERV $9B Collaborative applications ● Project and portfolio management Sales force productivity and management Marketing campaign management Customer service Application development System and service management Collaboration and planning IT service management IT operations management Request management Sources: Current and projected TAM from the relevant segments of the following reports. IDC Worldwide Collaborative Applications Forecast 2023-2027, IDC Worldwide Project and Portfolio Management Software Forecast 2023-2027, IDC Worldwide Customer Relationship Management Applications Software Forecast 2022-2026, IDC Worldwide DevOps Software Tools Forecast 2023-2027, IDC Worldwide ITSM Applications Forecast 2023-2027#26Expanding upmarket Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#27Sales and partner network has driven larger adoptions $50k+ ARR customers* 76 2019 264 2020 793 2021 1,474 2022 ~2,200 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy 132% CAGR 2019-2023F *Data as of the last day of each fiscal year 11.monday.com#28Superior product performance at scale with mondayDB 2023 Speed JUN monday DB 1.0 mondayDB 1.0 Large boards loaded at <4 seconds NOV mondayDB 1.1 Large dashboards Loaded at <5 seconds NEXT MILESTONE DEC mondayDB 1.2 New monday API capabilities: • Filter • Sort Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday DB 2024 Scale MAR mondayDB 2.0 mondayDB 2.0 100K items per board 500K items per dashboard* SEP mondayDB 2.1 Smarter automations Formula calculations in automations 2025 Premium monday DB 3.0 MAR mondayDB 3.0 Premium 1M items per board 5M items per dashboard 11.monday.com#2925,000 Our largest seat count Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#30Democratizing Al Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#31Giving anyone the power to build Al applications monday Al assistant Ä Strategic vision | Product strategy | Go-to-market overview | Financial strategy Al Automation Blocks ●■ monday Bots 11.monday.com#32Giving anyone the power to build Al applications monday Al assistant Al assistant marketplace Ä Al Automation Blocks Al automation blocks marketplace Strategic vision | Product strategy | Go-to-market overview | Financial strategy ●■ monday Bots Al bots marketplace 11.monday.com#33The future of monday.com Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#34Where do we want to go from here? Becoming the go-to work platform for business D Expanding our core work product lines Strategic vision | Product strategy | Go-to-market overview | Financial strategy Cultivating a strong ecosystem for a long-tail of use cases 11.monday.com#35Where do we want to go from here? Becoming the go-to work platform for business D Expanding our core work product lines Strategic vision | Product strategy | Go-to-market overview | Financial strategy Cultivating a strong ecosystem for a long-tail of use cases 11.monday.com#36Where do we want to go from here? Becoming the go-to work platform for business D Expanding our core work product lines Strategic vision | Product strategy | Go-to-market overview | Financial strategy Cultivating a strong ecosystem for a long-tail of use cases 11.monday.com#37Key takeaways Strategic vision | Product strategy | Go-to-market overview | Financial strategy 2 mondayDB can handle larger and more complex use cases, supporting our expansion upmarket. 3 4 monday.com is a true platform company, allowing us to open product lines easily and efficiently. 5 Our core product portfolio is growing fast and building market share. We operate in multiple TAMs that are large and growing. Al will be a growth catalyst for us over the long term. 11.monday.com#38What you will hear today 1 2 Product Our unique platform infrastructure and team culture allows us to innovate quickly and build best-in-class solutions that customers love. Go-to-Market Our GTM continues to evolve as we invest in expanding our global sales and partner networks to serve more customers. Financial 3 We remain on a clear path to deliver strong revenue growth and build market share while improving profitability and cash generation. Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#39monday.com Product strategy O Daniel Lereya Chief Product & Technology Officer#4001 Rapid product innovation Strategic vision | Product strategy | Go-to-market overview | Financial strategy 02 The future of monday.com Work OS 11.monday.com#41It's all about rapid innovation. Strategic vision | Product strategy | Go-to-market overview | Financial strategy 01 11.monday.com#42Unprecedented and innovation Total revenue Product Launch 2014 BigBrain BI System 2015 Mobile app execution pace 2016 Board template Columns $11M 2017 Strategic vision | Product strategy | Go-to-market overview | Financial strategy Views $32M 2018 Workload widget Automations & Integrations Dashboards Localization 13 Languages Apps Marketplace 2019 $78M Custom Role based account permissions (CRM) Emails & Activities WorkDocs My Work $161M 2020 (CRM) Mass emails & Analytics (Dev) Kanban 2.0 Multi-regional support (EU & AU) mondayDB (Dev) Sprint management monday WorkCanvas monday WorkForms monday Sales CRM $308M 2021 *Estimate for FY23 Note: FY23 guidance calls for total revenue of $723M-$725M monday dev $519M 2022 monday monday Workflows $725M* 2023F#43A product that people love and use for their core work "The high degree of personalization available on Monday.com is its most notable quality. Users are not limited by the platform's predefined structure but rather can mold it to their own needs..." "I'm very happy and impressed with the value Monday has produced for me and my company." "I love using monday for its ease of use and functionality to manage projects and tasks." Source: Capterra reviews https://www.capterra.co.il/reviews/147657/monday-com Capterra reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Capterra or its affiliates. Gartner Digital Markets reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Gartner or its affiliates. Strategic vision | Product strategy | Go-to-market overview | Financial strategy A single work week for monday.com users 1.3M New boards, columns, dashboards, and docs created every week 300M Human actions saved by automations every week 11.3M Items marked as "Done" every week 19.7M Interactions between users every week Note: all data points represent weekly averages over the period from August 31, 2023 through November 30, 2023, with the exception of human actions saved by automations, which represents a weekly average over the period from October 31, 2023 through November 30, 2023 11.monday.com#44monday.com named a Leader. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER and Magic Quadrant are registered trademarks and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. The Gartner document is available upon request from monday.com. The Gartner content described herein, (the "Gartner Content") represent(s) research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and are not representations of fact. Gartner Content speaks as of its original publication date (and not as of the date of this presentation) and the opinions expressed in the Gartner Content are subject to change without notice. The Gartner document is available upon request from monday.com. Strategic vision | Product strategy | Go-to-market overview | Financial strategy Gartner® Magic QuadrantTM for Adaptive Project Management and Reporting ABILITY TO EXECUTE Adobe CHALLENGERS ProjectManager.com NICHE PLAYERS COMPLETENESS OF VISION WorkOtter ProSymmetry Sciforma Keyedin Smartsheet Proggio Asana LEADERS monday.com ONEPOINT Projects Wrike Planview Planisware VISIONARIES As of May 2023 Gartner, Inc 11.monday.com#45What makes our execution exceptional? 1. Unique product architecture 2. Underlying technology Strategic vision | Product strategy | Go-to-market overview | Financial strategy 3. High performing team culture 11.monday.com#46What makes our execution exceptional? 1. Unique product architecture 2. Underlying technology Strategic vision | Product strategy | Go-to-market overview | Financial strategy 3. High performing team culture 11.monday.com#47Our unique product architecture enables us to build superior products rapidly and efficiently Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#481 - Unique product architecture A robust and mature platform is the cornerstone of our product architecture Over the past 10 years, we have built a strong platform with powerful low-code/no-code building blocks. We have also invested heavily in security, compliance, reliability, and scale. Strategic vision | Product strategy | Go-to-market overview | Financial strategy Platform Data building blocks: boards and columns, boards linkage, hierarchy Extendible: API & monday apps framework Native mobile apps User management & permissions Governance & admin Security Visualization building blocks: board views, widgets, dashboards WorkDocs mondayDB Logic building blocks: automations and workflows Compliance: ISO27001 certified (+4 ISO27x), SOC2 report, GDPR and HIPAA compliant WorkForms WorkCanvas 11.monday.com#491 - Unique product architecture Our platform is not an infrastructure, it's the product Our low-code/no-code building blocks allow everyone to build their own software, with the same interface. Our users have built solutions for thousands of use cases, across 200+ industries. This allows us to learn from what our users are successfully building, and quickly bring a dedicated Work OS product to market. Strategic vision | Product strategy | Go-to-market overview | Financial strategy ... Team planning Main table This month Gantt Finalize kickoff materials Refine objectives Identify key resources Test plan Team progress overview ● Working on it ● Stuck ◆ Done UP Kanban Owner On Owner € Owner Timeline meline When Status changes to for review, create an update in item + Add to board Status Done Working on it Done Stuck Status Working on it Done Stuck Working on it 11.monday.com#501 - Unique product architecture Each Work OS product adds a thin layer built on top of the platform All Work OS products are built on top of the platform, sharing 80% of the same code. Each Work OS product adds specific, deep features and has a dedicated GTM. Strategic vision | Product strategy | Go-to-market overview | Financial strategy 20% 80% CRM dedicated features Platform Data building blocks: boards and columns, boards linkage, hierarchy Extendible: API & monday apps framework Native mobile apps User management & permissions Governance & admin Security Visualization building blocks: board views, widgets, dashboards WorkDocs mondayDB Logic building blocks: automations and workflows Compliance: ISO27001 certified (+4 ISO27x), SOC2 report, GDPR and HIPAA compliant WorkForms WorkCanvas 11.monday.com#511 - Unique product architecture One flexible platform, many Work OS products Our customers get maximum value from the combination of both the product and the platform. As a result, Work OS products are mature from day 1. The first version of monday sales CRM was built with just four developers, monday dev with three. Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday work management work management dedicated features Platform Data building blocks: boards and columns, boards linkage, hierarchy Extendible: API & monday apps framework Native mobile apps User management & permissions Governance & admin Security Visualization building blocks: board views, widgets, dashboards WorkDocs mondayDB Logic building blocks: automations and workflows Compliance: ISO27001 certified (+4 ISO27x), SOC2 report, GDPR and HIPAA compliant WorkForms WorkCanvas 11.monday.com#521 - Unique product architecture One flexible platform, many Work OS products Our customers get maximum value from the combination of both the product and the platform. As a result, Work OS products are mature from day 1. The first version of monday sales CRM was built with just four developers, monday dev with three. Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday dev dev dedicated features Platform Data building blocks: boards and columns, boards linkage, hierarchy Extendible: API & monday apps framework Native mobile apps User management & permissions Governance & admin Security Visualization building blocks: board views, widgets, dashboards WorkDocs mondayDB Logic building blocks: automations and workflows Compliance: ISO27001 certified (+4 ISO27x), SOC2 report, GDPR and HIPAA compliant WorkForms WorkCanvas 11.monday.com#531 - Unique product architecture One flexible platform, many Work OS products Our customers get maximum value from the combination of both the product and the platform. As a result, Work OS products are mature from day 1. The first version of monday sales CRM was built with just four developers, monday dev with three. Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday sales CRM CRM dedicated features Platform Data building blocks: boards and columns, boards linkage, hierarchy Extendible: API & monday apps framework Native mobile apps User management & permissions Governance & admin Security Visualization building blocks: board views, widgets, dashboards WorkDocs mondayDB Logic building blocks: automations and workflows Compliance: ISO27001 certified (+4 ISO27x), SOC2 report, GDPR and HIPAA compliant WorkForms WorkCanvas 11.monday.com#541 - Unique product architecture Each Work OS product leverages monday.com's key advantages Based on real customer reviews on G2.com Easy-to-use 66 Being able to customize things quickly and easily without being a super user is really important." Robustness 66 The CRM feature in monday is a complete package. Aside from the fact that it is highly customizable based on your use case..." Strategic vision | Product strategy | Go-to-market overview | Financial strategy Flexibility 66 It is super versatile. We use it as an investor database to manage our Series A fundraising efforts." Customizable 66 The CRM and platform at large is fully customizable so you can mold it to fit your specific needs and uses." 11.monday.com#551 - Unique product architecture One flexible platform, supercharging all of our products Efficient execution and fast time to market Adding an additional Work OS product requires relatively minimal effort, by a small team Invest once, harvest everywhere: each addition to the platform makes all of our Work OS better Strategic vision | Product strategy | Go-to-market overview | Financial strategy Work OS products are superior Our key differentiators are flexibility and user experience Products are mature from day 1 Products are deeply connected by nature 11.monday.com#56What makes our execution exceptional? 1. Unique product architecture 2. Underlying technology Strategic vision | Product strategy | Go-to-market overview | Financial strategy 3. High performing team culture 11.monday.com#57Our technology is fundamentally different. Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#582- Underlying technology This is how traditional software is built In traditional software architecture, you start with defining the database, then build a UI to reflect it. Database Rigid database schema 0- Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#592- Underlying technology This is how traditional software is built In traditional software architecture, you start with defining the database, then build a UI to reflect it. DB schema is typically rigid. Every change requires developers to do massive work and is often risky. Database Rigid database schema 0- Strategic vision | Product strategy | Go-to-market overview | Financial strategy Tasks Rigid application structure 11.monday.com#602 - Underlying technology At monday.com, we built it the other way around Our DB schema is built dynamically by our users, allowing full flexibility in the application. Strategic vision | Product strategy | Go-to-market overview | Financial strategy Timeline = monday Deals Owner @@@@@ No-code building blocks which allows full flexibility in the application 11.monday.com#612 - Underlying technology At monday.com, we built it the other way around Our DB schema is built dynamically by our users, allowing full flexibility in the application. Yearly Budget OKR Underlying DB is schemeless, built dynamically by our users Strategic vision | Product strategy | Go-to-market overview | Financial strategy Timeline = monday Deals Owner @@@@@ No-code building blocks which allows full flexibility in the application 11.monday.com#62What makes our execution exceptional? 1. Unique product architecture 2. Underlying technology Strategic vision | Product strategy | Go-to-market overview | Financial strategy 3. High performing team culture 11.monday.com#633 - High performing team culture 'Builders' is an organizational structure optimized for speed Multi-disciplinary teams of engineers, designers, product managers, and data analysts Empowered to make fast, independent decisions Teams are small, autonomous, and agile High talent density - quality over quantity Strategic vision | Product strategy | Go-to-market overview | Financial strategy Builders Product Design Data Engineering 11.monday.com#643 - High performing team culture Quick-to-market, efficient, and high-quality execution 1 Extreme ownership and alignment 2 Fast and iterative execution 3 Data and impact driven, with real-world KPIs Strategic vision | Product strategy | Go-to-market overview | Financial strategy Product Engineers Team KPIs Analysts Design 11.monday.com#653 - High performing team culture Quick-to-market, efficient, and high-quality execution 1 Extreme ownership and alignment 2 Fast and iterative execution 3 Data and impact driven, with real-world KPIs Strategic vision | Product strategy | Go-to-market overview | Financial strategy We launch a new version of monday.com every day A. B A• Why B W. Shorter feedback loop → faster execution 11.monday.com#663 - High performing team culture Quick-to-market, efficient, and high-quality execution 1 Extreme ownership and alignment 2 Fast and iterative execution 3 Data and impact driven, with real-world KPIs Strategic vision | Product strategy | Go-to-market overview | Financial strategy Real-world feedback monday.com community A 15 K Internal feedback Data Yuly Roberman Tech Lead 23 Cill C Facebook groups 16 comments 1.8k views 11.monday.com#67The future of monday.com Work OS Strategic vision | Product strategy | Go-to-market overview | Financial strategy 02 11.monday.com#68Our mission Drive the core of all work for information workers around the world. Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#69Product offering today monday WorkCanvas monday WorkForms monday work management monday Work OS platform powered by monday DB Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday sales CRM 11.monday.com#70What's next Standalone monday WorkCanvas TO monday WorkForms monday Knowledge base Products monday work management Resource management Portfolio management OKRs & goals monday Product discovery & planning Sprint management QA & bug tracking Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday sales CRM Sales pipeline management Customer support Email campaigns Work OS platform powered by mondayDB monday service Help desk Portal Asset management 11.monday.com#71Bigger TAM Bigger customers Wall-to-wall deployments Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#72How are we re we going to get there? Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#73Product focus areas to accelerate growth. ENTERPRISE-GRADE WORK OS PLATFORM A strong Work OS platform for both small and large organizations is the basis for everything that we build. PRODUCT SUITE Going deeper in each product offering to make them best-in- class. l.. Strategic vision | Product strategy | Go-to-market overview | Financial strategy ECOSYSTEM Open platform that allows customers and external builders to extend and add functionality. I 11.monday.com#74Product focus areas to accelerate growth. ENTERPRISE-GRADE WORK OS PLATFORM A strong Work OS platform for both small and large organizations is the basis for everything that we build. PRODUCT SUITE Going deeper in each product offering to make them best-in- class. l.. Strategic vision | Product strategy | Go-to-market overview | Financial strategy ECOSYSTEM Open platform that allows customers and external builders to extend and add functionality. I 11.monday.com#75Breaking barriers with our new mondayDB infrastructure r Built for scale, speed, and flexibility Faster load times Strategic vision | Product strategy | Go-to-market overview | Financial strategy Bigger boards and dashboards ²0 Supports larger and more complex use cases 11.monday.com#76Rollout of mondayDB is on schedule 2023 Speed JUN monday DB 1.0 mondayDB 1.0 Large boards loaded at <4 seconds NOV mondayDB 1.1 Large dashboards Loaded at <5 seconds NEXT MILESTONE DEC mondayDB 1.2 New monday API capabilities: • Filter • Sort Strategic vision | Product strategy | Go-to-market overview | Financial strategy monday DB 2024 Scale MAR mondayDB 2.0 mondayDB 2.0 100K items per board 500K items per dashboard* SEP mondayDB 2.1 Smarter automations Formula calculations in automations 2025 Premium monday DB 3.0 MAR mondayDB 3.0 Premium 1M items per board 5M items per dashboard 11.monday.com#77Showing strong results with boards Median board load time Slower seconds Faster 0 5K total # of items + subitems + linked items 10K Strategic vision | Product strategy | Go-to-market overview | Financial strategy 15K Before mondayDB 5x faster After mondayDB Large and complex boards load up to 5x FASTER 11.monday.com#78And strong initial results with dashboards Median dashboard load time Slower seconds Faster 5K 3x faster 10K total # of items + subitems + linked items 15K Strategic vision | Product strategy | Go-to-market overview | Financial strategy Before mondayDB 4x faster After mondayDB 20K Large and complex dashboards load 4x FASTER 11.monday.com#79Taking enterprise-grade platform admin and security capabilities to the next level Workflow standardization & governance Providing a toolkit for efficient data management and operation flows at scale, which enables standardization and alignment between all departments. Enhanced security Enabling our largest customers to better protect their accounts with tenant-level encryption and bring your own key (BYOK), multiple SSO, DLP and more. Strategic vision | Product strategy | Go-to-market overview | Financial strategy Multi-layer permission management Introducing new layers of data and subscription protection, allowing administrators to easily adopt and customize monday's platform permissions model to suit their organizational needs. IL User management at scale New user management API and integrations, providing enhanced experience for users and external guest provisioning, at scale. 11.monday.com#80Supercharging our platform with Al OUR APPROACH We're in a unique position to make technology accessible, democratizing the power of Al. OUR PLANS All 3 tracks will be open for extension by external developers. Summarize Unsolved ticket Employee John Smith IT Team members involved Sarah Adams Mark Thompson Emily Johnson Michael Anderson Al assistant layer A Summarize Cancel Create an update Automations center Al blocks templates When an input is received, Assess sentiment Search automations or integrations Strategic vision | Product strategy | Go-to-market overview | Financial strategy When an input is received, Extract action items Active automations/4 When an item is created, Assign owner The tempat Al building blocks within automations and workflows Ⓒ D D O Ⓒ D ✪ Sprint insight Task has exceeded its planned 1. Task with dependencies is stuck. A Task reaching its deadline Task can win before dedline A Task has missing data A Task has missing data A Task has missing data monday bots Scrum Bot ^vx The task Velocity chart is 'MUST' priority task that hasn't been started yet. Change status Move task to next iteration Explain this Ping Anna ...... 11.monday.com#81Product focus areas to accelerate growth ENTERPRISE-GRADE WORK OS PLATFORM A strong Work OS platform for both small and large organizations is the basis for everything that we build. PRODUCT SUITE Going deeper in each product offering to make them best-in- class. Strategic vision | Product strategy | Go-to-market overview | Financial strategy ● ECOSYSTEM Open platform that allows customers and external builders to extend and add functionality. I 11.monday.com#82monday work management ADVANTAGES Complete solution to manage all aspects of work, from management goals to daily tasks, at any scale Quickly connect departments to power cross-team collaboration and processes Streamline operations through integrations with most other software tools WHAT'S NEXT 65 projects off track View all Show projects by A-2 Done tasks Planned VS Actual Project manager Software Performance Optimization Customer Support Ticket System 11 37 Show projects by Project manager projects at risk Dona tasks Panned VS Actual View all 0% Tasks Done Customer Portal Revamp 2023 Portfolio management ⒸON Tasks Done Cloud Migration Initiative 15 pro on 1 42 View Show projects by A-2 Done tasks Planned VS Actu Project manager 10 late Cloud Migration Initiative Resource Allocation + Add new 1300 resources Q Search Ariel Druk Front-end developer Jordyn Donin Brand designer Jackson Aminoff Filter Strategic vision | Product strategy | Go-to-market overview | Financial strategy < Color by KEY STATS 2014 Launch ¹2, Effort Mo 22 Resource management Tu 23 Week 4 Jan 21-Jan 27 We 24 Tod Th 25 $45B 2023 TAM* Company OKR'S Portfolios by KPI Goal status Hiring Alpha Beta Gamme Planned vs. actual effort Planned 51 +16% TAM CAGR (2023-2026) Goals & OKRS Actual 41 *Sources: Current and projected TAM from the relevant segments of the following reports. IDC Worldwide Collaborative Applications Forecast 2023-2027, IDC Worldwide Project and Portfolio Management Software Forecast 2023-2027 Active projects Goal 46% 10% this month Goals achieved Notifications Project 4 Project 4 wasn't updated 11.monday.com#83ADVANTAGES Unified CRM to manage full customer lifecycle - from lead to post-sale activities Quick setup and intuitive adoption Can be customized by anyone to fit any workflow Strong reporting capabilities - colorful and innovative reports to see where things stand at a glance monday sales CRM WHAT'S NEXT 1 2 3 Yes 4 M New prospect email Ở After 2 days If Zoom call scheduled Email campaigns & sequences No Moon Inc. deal $200 K 14 Days 92% M Mailchimp Zoom Gmail Propa Strategic vision | Product strategy | Go-to-market overview | Financial strategy HergUrtietiee_ KEY STATS 2022 Launch Catract St More Contact V Customer 360 - see all customer interactions from every tool, in one centralized place Moon.inc deal & Ron Doyle Email 14 Days $30B 2023 TAM* +14% TAM CAGR (2023-2026) monday sales CRM. Maria 9 deals at risk Gratia 80K Compi inc. 50K ~$25M ARR +500% YoY growth Sho.lo Shoka 20K 30K Dandis F.T.A 12K 100K 10K Oppis Foum... 5K D.nuty 18K *Source: Current and projected TAM from the relevant segments of the following reports. IDC Worldwide Customer Relationship Management Applications Software Forecast 2022-2026 0 @ & @ $100K/$600K Innovative pipeline management & forecasting 11.monday.com#84ADVANTAGES monday dev Holistic solution for the entire product development lifecycle (product, dev, design) Full collaboration between product & delivery teams and the business stakeholders & GTM teams Can be customized by anyone to fit any WHAT'S NEXT Theme 01 User experience Therme 01 Infra Q1 2023 Setup flow Design system build Figma integration Roadmap management Q2 2023 User testing Add workflow r 20 3 60 Done/2 Task High Task 0.5 SP High Prep 0 Task 6 D Strategic vision | Product strategy | Go-to-market overview | Financial strategy 20 1 Dev ecosystem 99 KEY STATS 2023 Launch Activity Github bacance @ged the stato in Progress Jenkins $17B 2023 TAM* +14% TAM CAGR (2023-2026) 35 SP 30 SP 25 SP 20 SP 15 SP 10 SP 5 SP 376P 22.5 SP Meration 168 STARE 16.5 SP iteration 169 16.5 SP 15.5 SP Maration 170 136P B.5 SP sertion 177 13.5P 12.5 SP 2.5 SP theation 172 10:59 Insights & reports 7.5 SP theation 173 *Source: Current and projected TAM from the relevant segments of the following reports. IDC Worldwide DevOps Applications Software Forecast 2023-2027 ~1,300 Paying accounts +300% Account YoY growth 6.5 SP {B}{2}} 7 SP 1555P ration 17 18557 1 sp Meration 177 5.5 SP iteration 179 2099 5.5 SP 11.monday.com#85monday service WHY MONDAY SERVICE? Competitive landscape Like CRM, current market solutions are either simple to use but rigid, or flexible yet complex. Product market fit Our platform, with the addition of WorkForms, already provides a good solution for many of our customers. Cross-sale driver Internal requests are a cross-company use case that can be a great entry point to the monday.com ecosystem. Strategic vision | Product strategy | Go-to-market overview | Financial strategy KEY STATS Late 2024 Expected Launch WHAT TO EXPECT? Ticket management Routing & SLA $9B 2023 TAM* Email server +10% TAM CAGR (2023-2026) Portal CSAT Analytics *Source: Current and projected TAM from the relevant segments of the following reports. IDC Worldwide ITSM Applications Software Forecast 2023-2027 11.monday.com#86Product focus areas to accelerate growth ENTERPRISE-GRADE WORK OS PLATFORM A strong Work OS platform for both small and large organizations is the basis for everything that we build. PRODUCT SUITE Going deeper in each product offering to make them best-in- class. l.. Strategic vision | Product strategy | Go-to-market overview | Financial strategy ECOSYSTEM Open platform that allows customers and external builders to extend and add functionality. I 11.monday.com#87Open API access for developers and customers Al Automation & Insights Recruiting ziflow Enhancing capabilities with 11.monday app marketplace Creative collaboration Phone solution Communication C Support 393 marketplace apps Automated Emails Visme Presentation software Proofing Strategic vision | Product strategy | Go-to-market overview | Financial strategy Time tracking € 218 apps collecting payments Doc generator DocuSign Compliance р CRM Invoice collection Collaboration Note: data as of November 2023 700K+ app installs Form Builder (8 Online Marketing حم Document compliance 40% of customers installed at least one app Dashboard reporting Sales Communication ECSE Task Management Subitem support fer.mBoard Resource Management Marketing videos II. monday#88Key takeaways Strategic vision | Product strategy | Go-to-market overview | Financial strategy 1 2 3 4 Built as a schemeless platform from day 1, with unique underlying technology. The Work OS platform is enterprise-grade, powered by mondayDB. Developing Work OS products on top of the platform is highly efficient and allows fast time-to-market. We build highly flexible, best-in-class products that customers love. 11.monday.com#89✓monday.com Go-to-market overview e Yoni Osherov Chief Revenue Officer#90Go-to-market evolution Performance marketing- driven organization 2017 2018 Established Sales & Partners organization Opened London office 2019 Strategic vision | Product strategy | Go-to-market overview | Financial strategy 2020 Opened Sydney office *For definition of ACV, see Appendix Established B2B marketing organization 2022 Enterprise expansion and multi-product growth driving wall-to- wall deployments and increased ACV* Future 2023 Established CRO organization 11.monday.com#91In five years we transformed the business model 2018 SMB-focused Self-serve only Performance marketing only Largest accounts ~$50K Bottom-up focus Strategic vision | Product strategy | Go-to-market overview | Financial strategy 2023 SMB + mid-market + enterprise Self-serve supported by sales + partners Land and expand + B2B marketing Largest accounts >$1M Bottom-up + top-down 11.monday.com#92Shift in ARR channel distribution provides better retention & stickiness 12% 17% 71% 2019 Added ARR* channel composition 10% 25% 64% 2020 Self-Serve Strategic vision | Product strategy | Go-to-market overview | Financial strategy 13% 31% 55% 2021 Sales Gross added ARR Partners 17% 43% 40% 2022 19% 43% 37% 2023F 11.monday.com#93*FY23 estimate * Serving ~225K customers across 200+ industries Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#94Global expansion of CRO to address customer demand Denver Chicago New York Miami monday.com offices Strategic vision | Product strategy | Go-to-market overview | Financial strategy São Paulo London Warsaw Tel Aviv Tokyo Sydney Melbourne 11.monday.com#95Supported by a robust global partner network 210 active channel partners* ~2K referral partners* *Data as of Q3 FY23 Countries with with partner presence 11. monday.com offices Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#96Winning combination: our efficient bottom-up machine with a top-down motion is driving optimal results Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#97Efficient bottom-up flywheel motion Huge market reach - 200K+ signups/month Multiple entry points to an organization Bottom-up approach Fueled by sales and customer success to drive expansion Strategic vision | Product strategy | Go-to-market overview | Financial strategy Attract Thousands of signups a day Filter self-serve or sales Delight and expand Engage 11.monday.com#98Landing and expanding with large enterprises Case study Large U.S. gaming company 5 users Initial land by engineers via self service Initial Land +325 users AM and CSM assigned to account Year 1 +1,700 users Expanded to marketing, creative design, PM, HR & OPS Year 2 Strategic vision | Product strategy | Go-to-market overview | Financial strategy +1,300 users Full wall-to-wall deployment Year 3 +1,000 users Expanding with the company as it grows Year 4 +2,000 users Year 5 7,500 users Today 11.monday.com#99Efficient performance marketing - driven by our BigBrain capabilities Strategic vision | Product strategy | Go-to-market overview | Financial strategy BIGBRAIN our internal business intelligence tool • The foundation of our data driven culture ● Supports consistent cash-on-cash return in <12 months Meet BigBrain 11.monday.com#100Our top-down sales motion continues to mature Top-down Targeting decision makers Sales-driven Focus on verticalized products Strategic vision | Product strategy | Go-to-market overview | Financial strategy R Targeting end-users Marketing-driven Focus on flexible solutions Bottom-Up 11.monday.com#101Expansion is driving the majority of growth % of added ARR* 42% 58% 2019 Strategic vision | Product strategy | Go-to-market overview | Financial strategy Gross added ARR 69% 31% 2023F Expansion New business 11.monday.com#102Leading to more customers with higher seats and ARR 76 % of ARR $50k+ ARR customers 132% CAGR 264 793 1,474 ~2,200 2019 5% 2020 11% Strategic vision | Product strategy | Go-to-market overview | Financial strategy 2021 2022 2023F 27% 32% 20% 16 $100K+ ARR customers 167% CAGR 73 267 2019 2020 2021 2% 5% 12% 527 ~810 2022 2023F 17% 20% 11.monday.com#103Double Annual Contract Value (ACV) by 2026 01 Expansion opportunities 02 Cross-sell and upsell Strategic vision | Product strategy | Go-to-market overview | Financial strategy Note: for definition of ACV, see Appendix 03 Pricing adjustment 11.monday.com#1041 Expansion opportunities Significant untapped expansion opportunity 61% of Fortune 500 are monday.com customers Average seat size for Fortune 500 customers is ~275 seats 10% of the Fortune 500 is using either monday sales CRM or monday dev Strategic vision | Product strategy | Go-to-market overview | Financial strategy Untapped Fortune 500 potential <1% Avg. penetration within Fortune 500 customers Note: Data as of Oct. 31, 2023 11.monday.com#1052- Cross-sell and upsell Large cross-sell & upsell opportunities Multi-product monday work management monday dev Untapped opportunity Approx. ¹13 of monday customers have used a CRM or DevOps template in 2023 monday service monday sales CRM Strategic vision | Product strategy | Go-to-market overview | Financial strategy Add-ons Automation pack Emails and activities Premium support 11.monday.com#1062- Cross-sell and upsell Positive signs for cross- selling motion CRM & Dev paying accounts from cross-sell 25 Q1'22 80 Q2'22 236 460 Q3'22 Q4'22 +974% YOY 975 Q1'23 1,656 Q2'23 Strategic vision | Product strategy | Go-to-market overview | Financial strategy 2,534 Q3'23 Note: for definition of ACV, see Appendix The ACV of these accounts is ~1.7x the avg. ARR 11.monday.com#1073- Pricing adjustment Pricing strategy and updates 2024 PLANS Added significant value in recent years Market conditions and competitive landscape call for a price adjustment Plan to roll out adjustments gradually in H2-FY24 for new and existing customers (upon renewals) Estimated impact on 2024 revenues ~$10M Estimated impact on 2025 revenues ~$30M Strategic vision | Product strategy | Go-to-market overview | Financial strategy FUTURE PLANS 01 Product-specific pricing 02 Multi-product bundles 03 Consumption pricing for add-ons 11.monday.com#108Our partner ecosystem: a crucial contributor to our success ~20% of added ARR* Note: FY23 estimate (actual estimate 19%) *Gross added ARR TCS cloud migration governance solution Solution by tos TATA CONSULTANCY SERVICES Driving strategic services through GSI Examples of packaged solution by our partners SOX over monday.com Solution by 8/10 Top marketplace apps* built by partners *Top apps by ARR KPMG Strategic vision | Product strategy | Go-to-market overview | Financial strategy Real estate solution Solution by PURPLE PLUM Building packaged solutions CONSULTING#109Customer satisfaction is high and improving 4.7 Score Avg. in G2 crowd reviews Source: G2.com, Inc Customer support channels 18 Awards G2 2023 Best Software Awards Customer Experience Strategic vision | Product strategy | Go-to-market overview | Financial strategy Source: G2.com, Inc Customer Success "monday.com is powerful, flexible, and easy to use." "A Powerful and User- Friendly CRM Solution for Sales Excellence" "Easy for everyone to use from Ops to Developers" Source: G2.com, Inc Professional Services 11.monday.com#110Key takeaways Strategic vision | Product strategy | Go-to-market overview | Financial strategy 2 3 4 Strong flywheel model augmented with a top- down sales and partner GTM motion. Successfully maturing up-market. Massive untapped opportunity to further expand within our base. Plan to 2x ACV by 2026 through expansion opportunities, cross-sell and upsell, and pricing. 11.monday.com#111monday.com Financial strategy Eliran Glazer Chief Financial Officer#112Why own monday.com? Large growth potential Multiple growth levers to capture new markets and build share in large and growing TAMs Diverse customer base Expanding customer base across industries, geographies, and company sizes One of the biggest opportunities in software. Strategic vision | Product strategy | Go-to-market overview | Financial strategy Strong financial performance Track record of strong execution, with durable revenue growth, improving profitability, and significant cash generation 11.monday.com#113New customer demand has been consistently strong Total customers 90K 2019 114K 2020 152K 2021 186K 2022 ~225K 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy 26% CAGR 2019-2023F 11.monday.com#114Durable growth across all cohorts Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 pre-2017 Q1 18 Q2 18 Q3 18 2017 Q4 18 Q1 19 Q2 19 2018 Strategic vision | Product strategy | Go-to-market overview | Financial strategy Q3 19 Q4 19 2019 Q1 20 Q2 20 Q3 20 2020 Q4 20 Q1 21 Q2 21 2021 Q3 21 Q4 21 Q1 22 2022 Q2 22 Q3 22 2023 Q4 22 Note: This chart illustrates the total ARR of each cohort as of September 30, 2023 over the periods presented. Each cohort represents customers who made their first purchase from us in a given year. For example, the 2022 cohort includes all customers that made their first purchase from us between January 1, 2022 and December 31, 2022. Note: For definition of ARR, see Appendix Q1 23 Q2 23 Q3 23 11.monday.com#115ARR trends reflect more upmarket adoption % of ARR - contract size ~5% ~45% ~50% 2019 0-$5K $5K-$50K ~30% ~55% ~15% 2023F $50K+ % of ARR- contract duration ~70% ~30% 2019 Strategic vision | Product strategy | Go-to-market overview | Financial strategy Monthly ~80% ~20% 2023F | Annually % of ARR - customer type* ~20% ~20% ~60% 2019 SMB Mid-market *Segments defined by company size. SMB = less than 100 employees; mid-market = 100-1,500 employees; enterprise = greater than 1,500 employees ~25% ~30% ~45% 2023F Enterprise 11.monday.com#116Signs of stabilization in net dollar retention (NDR) 100% 100% 140% 130% 130% 135% 105% 100% Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 135% GN $50k+ customers 135% 105% 145% 145% 150% 110% 150% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q4 Q2 Q3 Q4 20 20 20 20 21 21 21 21 22 22 22 22 Q1 23 All customers Strategic vision | Product strategy | Go-to-market overview | Financial strategy 115% 120% 125% | 120% 115% 11 Q2 Q3 23 23 125% 115% 125% 120% 120% | Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 120% 125% Note: For definition of NDR, see Appendix 130% $100k+ customers 135% 145% 150% 115% 155% 150% 140% 110% 135% 125% 110% 115% 115% m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 20 20 20 20 21 21 21 21 22 22 22 22 23 23 23 11.monday.com#117New demand and expansion has driven robust revenue growth Total revenue $78M 2019 $161M 2020 $308M 2021 $519M 2022 ~$725M 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy Total revenue 75% CAGR 2019-2023F Note: FY23 guidance calls for total revenue of $723M-$725M 11.monday.com#118monday.com is running on a super efficient business model Strategic vision | Product strategy | Go-to-market overview | Financial strategy Competing and winning in multiple product areas with low incremental costs Every product is a thin layer on top of the Work OS platform, making it cost-efficient to launch new products Enhancements and upgrades to the platform benefit all products 11.monday.com#119As we scale, our efficiency continues to improve Non-GAAP operating margin (91%) 2019 (53%) 2020 (17%) 2021 (9%) 2022 ~7% 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy Non-GAAP profitability 2023. 11.monday.com#120Maintaining strong cash generation Adjusted free cash flow (FCF) margin (Non-GAAP) (49%) 2019 (25%) 2020 3% 2021 2% 2022 ~25% 2023F Strategic vision | Product strategy | Go-to-market overview | Financial strategy FCF at historical highs 11.monday.com#12194% 143% Industry-leading financial performance A rule of 60+ company (49%) 2019 81% 106% (25%) 2020 Revenue Growth Strategic vision | Product strategy | Go-to-market overview | Financial strategy 94% 3% 91% 2021 FCF Margin 70% 2% 68% 2022 Rule of 40 Note: FY23 guidance calls for total revenue of $723M-$725M 65% 25% 40% 2023F 11.monday.com#122Investment priorities for growth TALENT Investing in global R&D, product, and sales WORK OS PLATFORM Investing in infrastructure and enhancing capabilities PRODUCT SUITE Investing in existing and new products EXPANDING ECOSYSTEM Investing in the marketplace, Al, and other building blocks Strategic vision | Product strategy | Go-to-market overview | Financial strategy 350 Total headcount 705 1,064 1,549 1,800+ ~2,400 2019 2020 2021 2022 2023F 2024F 11.monday.com#123Financial framework FY23 guidance Revenue growth YoY%** Gross margin* R&D % of revenue* S&M % of revenue* G&A % of revenue* Operating margin* Free cash flow margin* Share-based compensation (SBC)% of revenue 39%-40% High 80s Mid teens Mid 50% ~10% ~7% ~25% ~14% Deteriorating macro Mid 20s High 80s Mid teens Mid 40s High single digits ~10% High 20s Low teens Strategic vision | Product strategy | Go-to-market overview | Financial strategy FY 2024 - 2026 guidance Base Case High 20s / Low 30s High 80s High teens High 40s ~10% Mid/High single digits Mid 20s Low/Mid teens Improving macro Mid 30s Mid/High 80s High teens Low 50s Low 10s Mid single digits Low 20s Mid/High teens *Non-GAAP financial measures **Growth rates represent annual improvement over each of the three years (2024-2026) 11.monday.com#124We expect to generate $1 billion in free cash flow from 2023-2026. Strategic vision | Product strategy | Go-to-market overview | Financial strategy 11.monday.com#125Capital allocation focused on building market share 1 Investing in organic growth • Platform infrastructure • Product suite offerings Sales and marketing M&A guiding principles Complement, not complicate, our current platform and products 2 Inorganic M&A • Small tuck-in acquisitions • Fill out our product roadmap • Grow in talent and technology Strategic vision | Product strategy | Go-to-market overview | Financial strategy New capabilities we do not currently have ôć 3 Share repurchases • Long-term consideration Possible talent acquisitions 11.monday.com#126Key takeaways Strategic vision | Product strategy | Go-to-market overview | Financial strategy 1 We have a strong track record of delivering on our business and financial objectives. 2 We are well positioned to continue driving efficient growth and long-term shareholder value. 3 Top-line growth and building market share remain our top priorities. 5 4 We expect to surpass $1 billion in ARR in FY24. We expect to generate ~$1 billion in free cash flow from 2023 to 2026. 11.monday.com#12711.monday.com Executive Q&A#128Appendix Supplementary materials#129Definitions (1) Annual recurring revenue ("ARR") is defined to mean, as of a measurement date, the annualized value of our customer subscription plans assuming that any contract that expires during the next 12 months is renewed on its existing terms. (2) Monthly active paying people ("MAPP") measures the number of current paying users that have performed at least one meaningful action on the monday.com platform over the last 30 days. (3) We calculate Net Dollar Retention Rate as of a period end by starting with the ARR from customers as of the 12 months prior to such period end ("Prior Period ARR"). We then calculate the ARR from these customers as of the current period end ("Current Period ARR"). The calculation of Current Period ARR includes any upsells, contraction and attrition. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net dollar retention rate. We then use a weighted average of this calculation of our quarterly Net Dollar Retention Rate for the four quarters ending with the most recent quarter. (4) Annual Contract Value ("ACV”) is calculated by dividing ARR by the total number of customers as of the end of the relevant period. 11.monday.com#130Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) Net cash provided by (used in) operating activities Purchase of PP&E Capitalized software development costs Purchase of property and equipment related to build-out of new corporate headquarters Adjusted free cash flow Adjusted free cash flow margin FY-19 (36.7) (1.4) (0.3) (38.4) (49%) FY-20 (37.2) (4.4) (1.1) 2.0 (40.7) (25%) FY-21 16.4 (11.6) (2.2) 7.3 9.9 3% FY-22 27.1 (16.0) (3.0) 8.1 2% 11.monday.com#131Reconciliation of non-GAAP financial measures Non-GAAP operating loss ($ in thousands) Reconciliation of gross profit: GAAP gross profit Add: Share-based compensation Non-GAAP gross profit Reconciliation of gross margin: GAAP gross margin Non-GAAP adjustments Non-GAAP gross margin Reconciliation of operating expenses: GAAP research and development Less: Share-based compensation Non-GAAP research and development GAAP sales and marketing Less: Share-based compensation Non-GAAP sales and marketing FY-19 66,111 970 67,081 85% 1% 86% 24,637 9,396 15,241 118,534 3,283 115,251 FY-20 138,635 2,720 141,355 86% 2% 88% 43,480 12,142 31,338 191,353 10,068 181,285 FY-21 269,137 7,681 276,818 87% 3% 90% 73,686 21,779 51,907 268,083 23,135 244,948 FY-22 452,501 10,406 462,907 87% 2% 89% 127,047 32,957 94,090 392,068 33,457 358,611#132Reconciliation of non-GAAP financial measures Non-GAAP operating loss (cont.) ($ in thousands) Reconciliation of operating expenses (cont.): GAAP general and administrative Less: Share-based compensation Non-GAAP general and administrative Reconciliation of operating loss and margin: GAAP operating loss Add: Share-based compensation Non-GAAP operating loss GAAP operating margin Non-GAAP adjustments Non-GAAP operating margin FY-19 15,458 8,190 7,268 (92,518) 21,839 (70,679) (118%) 27% (91%) FY-20 54,339 39,415 14,924 (150,537) 64,345 (86,192) (93%) 40% (53%) FY-21 53,493 20,934 32,559 (126,125) 73,529 (52,596) (41%) 24% (17%) FY-22 85,401 28,100 57,301 (152,015) 104,920 (47,095) (29%) 20% (9%) 11.monday.com