#1Investor Presentation June 2023 SEMRUSH#2Safe harbor This presentation may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 relating to our business, operations, and financial conditions, including but not limited to current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, our future addressable market, our product development plans, and other future conditions. Words such as, but not limited to, "look forward to," "believe," "expect," "anticipate," "estimate,” “intend," "plan," "would," "should," "could," and similar expressions or words, identify forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. Although we believe the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, the risks set forth under Part II Item 1A. Risk Factors in our Quarterly Report on Form 10-Q filed May 10, 2023 and our other SEC filings. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of such forward-looking statements. Certain information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy, or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while we believe our own internal research is reliable, such research has not been verified by any independent source. This presentation includes non-GAAP financial measures which have certain limitations and should not be considered in isolation, or as alternatives to or substitutes for, financial measures determined in accordance with generally accepted accounting principles in the United States ("GAAP"). The non-GAAP measures as defined by us may not be comparable to similar non-GAAP measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by these or other unusual or non-recurring items. See the "GAAP to Non-GAAP Reconciliation" slide for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures. This presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM, O or Ⓡ symbols, but we assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights.#3Meet our team Oleg Shchegolev Co-founder and CEO Eugene Levin President Former Target Global Brian Mulroy Chief Financial Officer Former Microsoft & Nuance Vitalii Obishchenko Chief Operating Officer Former SEO Quake Tatiana Starikova Chief HR Officer Former Realweb & Adhands Andrew Warden Chief Marketing Officer Former Cisco & SoftServe Channing Ferrer Chief Sales Officer Former HubSpot & Built In David Mason General Counsel Former Kayak & EverQuote#4Key investment highlights Leading digital marketing platform Trusted by businesses to manage and enhance their online visibility across key channels Proprietary tech and data Covering key aspects of online visibility with deep third-party integrations Large and diverse customer base Highly efficient go-to-market approach Rapid growth with robust margins Highly attractive customer cohorts and cost-effective SaaS model Large market opportunity Proven ability to expand TAM over time with innovative products and third-party apps#5Company snapshot Countries served 150+ Full time employees 1,500+ Paying customers 100,000+ ARR growth year over year Up 23% Free active users 885,000+ FY 2022 Gross Margin 81% Offices worldwide FY 2022 revenue Net Revenue Retention Rate 13 $254M 116% Numbers reflect data as at March 31, 2023 unless otherwise indicated ARR is defined as of a given date as the monthly recurring revenue that we expect to contractually receive from all paid subscription agreements that are actively generating revenue as of that date multiplied by 12 Dollar Based Net Revenue Retention is defined as (a) the revenue from our customers during the twelve-month period ending one year prior to such period as the denominator and (b) the revenue from those same customers during the twelve months ending as of the end of such period as the numerator#6Problem we are solving 1 The volume of information online is increasing everyday, so it's becoming harder to reach customers 2 who are bombarded with ads, social posts, offers and new content The number of new businesses increases everyday, so it's becoming harder to stand out and compete for the customer overwhelmed by choice The human attention span online is rapidly decreasing, so it's becoming harder to capture, maintain, 3 Tnd human attention span 4 The average consumer spends 7+ hours online everyday, but search engine algorithms constantly change, so it's becoming harder to create marketing content that ranks and resonates consistently#7We enhance online visibility Our platform is designed to help customers break through the noise by enhancing their online visibility. In the attention economy, it's the businesses seen online that are going to come out on top. We ignite marketing engines for companies so their current and future customers are more likely to connect with them, learn from them, and buy from them. We help small businesses, agencies, and large companies learn about their market segments and competitors' strategies, identify growth opportunities, create high quality content, execute marketing campaigns, and measure the results. We strengthen how and where businesses show up when people use search engines and social networks. Our mission is to make it easy for anyone to grow their business online#8Top of funnel leadership We built and maintained an integral position in the marketing funnel to help companies appear on customer's radars We provide access and tutorials to 55+ products, tools and add-ons across SEO, SEM, content marketing, market research, advertising research, local marketing, reporting, social media management, and digital PR We integrate with Google Analytics, Google Search Console, Data Studio, Wordpress, task management tools and social platforms for seamless workflows We are globally diversified, industry diversified, and vertically diversified, demonstrating our ability to help grow businesses in any market SEO | Digital Advertising | Digital PR | Content Marketing | SEM | SMM Online Visibility Management SEMRUSH Awareness Interaction Engagement Web Analytics m Digital Experience Conversion CRM Loyalty Feedback -sprinklr Optimizely ON24 HubSpot Email Marketing and Social Media Management sprout social HubSpot Surveys Survey Monkey Qualtrica CoreXM#9Expanding market opportunity Total Global Businesses + Online Penetration + Avg. Revenue per Customer Current Global Opportunity $16bn Future Global Opportunity $20bn+ We estimate our global opportunity based on the number of small and medium sized companies (those with less than 500 employees) and large companies (those with 500 or more employees) in the U.S per the U.S. Census Bureau. As of December 31, 2021, approximately 95% of our customers are in the small and medium sized category and had an ARR per paying customer of $2,500, while our large enterprise customers had an ARR per paying customer of $4,500. We believe the opportunity internationally is at least as large as in the U.S. We assume 50% online penetration in the small company segment (those with less than 20 employees) and 100% penetration in the medium sized (those with between 20 and 499 employees) and large company segments.#10Diversified and leading customer base Headcount Retail Consumer Internet Finance Agencies Software Other 50-500 DRIZLY Arkadium smartasset™ acronym →pendo Seeking Alpha 500-1K ETR BLACK RIFLEⓇ COFFEE COMPANY Quora BREX VAYNERMEDIA GONG The Washington Post 1K-5K iP The RealReal Skyscanner 47 WISE iProspect mailchimp Time Inc. dentsu 5K+ ebay f BNP PARIBAS AEGIS network salesforce Disney#11Our platform differentiation Superior Data Significant breadth and depth of data from different sources allows us to build strong online visibility profiles of businesses of all sizes around the globe ⚫ Better Insights By leveraging data from multiple sources, we build unique insights that other solutions may not uncover ⚫ Powerful Integrations We provide complete workflow through our integrations with industry standard applications such as Trello, Gmail, Google Docs, Wordpress, GA, GSC as well as social networks and reporting tools • Ease Of Use By providing all tools in one interface we reduce time customers spend on switching between tools. Our data for different channels is presented in the same format and can be easily analyzed Online Reviews • Efficiency Comparable capabilities from other solutions may cost meaningfully more on average • Team Collaboration By combining products for PPC, SMM, Content Marketing and SEO in one platform we connect teams, eliminate silos, improve communications and increase their productivity Website Index User Behavior Website Structure Crawl Data Online Visibility Profile Social Media Metrics Keywords Panel Search Index Data#12Strong market positioning SEO Content Analytics Local SEO Local Listing Management Competitive Intelligence Marketing Analytics Social Media Management Market Intelligence Content Analytics Media & Influencer Targeting SEMRUSH klue Hootsuite™ HubSpot conductor Xe 6 similarweb ahrefs ☑ ✓ ✓ ✓ ☑ Sourced from G2.com on May 18, 2023. Rank for Media & Influencer Targeting is for Prowly, which is a fully owned subsidiary of Semrush Inc. Birdeye CISION#13Strategic growth drivers Achieved 100K paying customers in Q123 Expect continued growth in number of core platform users and improved customer engagement W Currently have 55+ tools, with over 20% of clients using multiple solutions Plan to launch new digital marketing tools, cross-sell, and move up-market with offerings for large businesses Expanding marketplace of third party apps Leveraging our brand, selling power, expertise, and operational excellence#14Industry recognition and awards 27 G TR Leader in 20 categories (2022) 4.5/5 Top-rated in 7 categories (2023) 18 industry awards since 2018 TrustRadius 8.8/10 Top-performer 2023 Capterra 4.7/5 Great Place 2022 & To Work®Ⓡ 2023#15Customer testimonials I love how I am able to efficiently crawl and audit sites. The software is advanced and amazing at helping digital marketers find site issues and fix them. Senior Content Strategist, Upwork Global Inc. Stephanie Marie "Delgado What I really appreciate about Semrush is how instructive it is. If you don't know how to tackle a technical issue, the Site Audit tool will always have the answer. Search Marketing Specialist, Lush Cosmetics Laure Hessin With the help of Semrush we've grown our Organic traffic by 20% despite competing with the toughest players in the industry. SEO Content Executive, Air Europa Davina Alemany Segui It's literally the number one tool we use. Semrush is our go-to source for establishing the value of keywords. Be it for our blog or for the product taxonomy, Semrush lets us see what the organic search vendor is actually looking for around that product topic idea and a quantifiable result. SEO Director, Thrive Market When we started The Cycleverse, we had big ambitions and grand visions but very little traffic. By focusing all our efforts on SEO and using Semrush, we, in only one year, grew our traffic by 200x and became one of the biggest players in the German market. смо, Jeff Sonst The Cycleverse Even if it's on the national level and we want to bring it to the local level, Semrush's keyword data is a game-changer. We're not just stabbing keywords on a wall, we have the data to back it up. I'm a firm believer that if you follow the SEO Writing Assistant, it will yield results. Yannick Van Noy Lead SEO Specialist, Universal Health Services Tony Morisset#16Financial highlights SEMRUSH#17Q1 2023 highlights سا ୪ ㅁㅁ First quarter revenue of $70.9 million ARR of $293 million Over 100,000 paying customers Over 885,000 free, active users Up 24% year over year Up 23% year over year Up 15% from a year ago Up 36% from a year ago ARR is defined as of a given date as the monthly recurring revenue that we expect to contractually receive from all paid subscription agreements that are actively generating revenue as of that date multiplied by 12#18Geographic revenue breakdown 47% US 10% UK 43% Rest of the world O Denotes breakdown as at December 31, 2022#19Strong track record of revenue growth Revenue (USD mln) FY18 FY19 FY20 FY21 FY22 254.3 188.0 124.9 92.1 63.5 Revenue 62.8% 45.0% 35.6% 50.6% 35.3% Growth (%)#20Cohort analysis Annual Subscription Revenue (USD mln) New Registered Customers Pre 2017 2017 2018 2019 2020 2021 2022 300 250 200 150 100 50 50 0 Dollar-Based Net Revenue Retention Rate 116% 2014 2015 2016 2017 2018 2019 2020 2021 2022#21Long-term target operating model 2019 2020 2021 2022 Target Model Gross Margin 76% 76% 78% 81% 80% Sales & Marketing 45% 44% 43% 49.9% 35% Research & Development 15% 14% 13% 16.2% 15% General & Administrative 24% 23% 23% 24.7% 10% Operating Loss (9%) (5%) (1%) (14.3)% 20% Non-GAAP Net Loss (8%) (4%) (0%) (10.4)% >20% Note: All metrics are calculated as a percentage of revenue. Non-GAAP net loss excludes stock-based compensation expense.#22Appendix#23GAAP to Non-GAAP reconciliation (USD in millions) FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 GAAP net cash and cash equivalents provided by operating activities 2.6 (1.9) 1.9 5.9 23.8 (9.6) Purchases of property & equipment and (1.4) (1.1) (1.2) (3.4) (3.8) (5.9) capitalization of software development costs GAAP net loss (8.2) (6.1) (3.3) (33.8) Stock-based compensation expense Non-GAAP net loss 0.5 1.0 2.7 7.4 (7.7) (5.1) (0.5) (26.5)