#1Investor Presentation Second Quarter 2021 walk me#2walk me | Safe harbor and other information. Certain statements in this presentation may constitute "forward-looking" statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "seek," "believe," "estimate," "predict," "potential," "continue," "contemplate," "possible" or similar words. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to manage our growth effectively, sustain our historical growth rate in the future or achieve or maintain profitability; the impact of the COVID-19 pandemic, including variants, on our business, financial condition and results of operations; the growth and expansion of the markets for our offerings and our ability to adapt and respond effectively to evolving market conditions; the effects of increased competition in our target markets and our ability to compete effectively; our ability to attract and retain new customers and to expand within our existing customer base; the percentage of our remaining performance obligations that we expect to recognize as revenue; our ability to effectively develop and expand our marketing and sales capabilities; risks related to our international operations and our ability to expand our international business operations; the effects of unfavorable conditions in our industry or the global economy or reductions in information technology spending; and other risk factors set forth in the section titled "Risk Factors" in our Prospectus filed with the Securities and Exchange Commission on June 16, 2021, and other documents filed with or furnished to the SEC. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Unless otherwise indicated, information contained in this presentation concerning economic conditions, our industry, the markets in which we operate and our competitive position is based on a variety of sources, including information from independent industry analysts and publications, as well as our own estimates and research. Management estimates are derived from publicly available information released by independent third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data and our knowledge of our industry and the markets in which we operate, which we believe to be reasonable. Although we believe the data from these third-party sources is reliable, we have not independently verified any such information, and these sources generally state that the information they contain has been obtained from sources believed to be reliable. In addition, as discussed above, projections, assumptions and estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors that could cause our actual results to differ materially from those expressed in the estimates made by the independent third parties and by us. © All Rights Reserved 2#3walk me | Our use of Non-GAAP financial measures. In addition to our financial information reported in accordance with GAAP, this presentation may contain one or more of the following non-GAAP financial measures: Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP Operating Income (Loss), Non-GAAP Operating Margin, Non-GAAP Net Income (Loss) attributable to WalkMe Ltd., Non-GAAP Net Income (Loss) per share attributable to WalkMe Ltd. and Free Cash Flow, all of which are non-GAAP financial measures. We believe that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. Non-GAAP financial metrics have limitations as analytical tools and may differ from similarly titled metrics presented by other companies. The presentation of this financial information is not intended to be considered as a substitute for the financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business. Non-GAAP Gross Profit and Non-GAAP Gross Margin. We define Non-GAAP Gross Profit as gross profit excluding share-based compensation and amortization of acquired intangibles. We exclude these items because they occur for reasons that may be unrelated to our core operating performance during the period, and because we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. We use Non-GAAP Gross Profit with traditional GAAP measures to evaluate our financial performance. Non-GAAP Gross Margin is calculated as a percentage of revenues. Non-GAAP Operating Income (Loss) and Non-GAAP Operating Margin. We define Non-GAAP Operating Income (Loss) as income (loss) from operations excluding share-based compensation and amortization of acquired intangibles. We exclude these items because they occur for reasons that may be unrelated to our core operating performance during the period, and because we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. We use Non-GAAP Operating Income (Loss) with traditional GAAP measures to evaluate our financial performance. Non-GAAP Operating Margin is calculated as a percentage of revenues. Non-GAAP Net Income (Loss) attributable to WalkMe Ltd. We define Non-GAAP Net Income (Loss) attributable to WalkMe Ltd. as net income (loss) attributable to WalkMe Ltd. excluding share-based compensation and amortization of acquired intangibles. We exclude these items because they occur for reasons that may be unrelated to our core operating performance during the period, and because we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. We use Non-GAAP Net Income (Loss) attributable to WalkMe Ltd. with traditional GAAP measures to evaluate our financial performance. Non-GAAP Net Income (Loss) per Share attributable to WalkMe Ltd. is calculated based on ordinary shares outstanding after accounting for the exchange of our outstanding convertible preferred shares into ordinary shares as though such event had occurred at the beginning of the periods. Free Cash Flow. We define Free Cash Flow as net cash provided by (used in) operating activities, less cash used for purchases of property and equipment and capitalized internal-use software costs. We believe that Free Cash Flow is a useful indicator of liquidity that provides information to management and investors, even if negative, about the amount of cash used in our business. Our Free Cash Flow may vary from period to period and be impacted as we continue to invest for growth in our business. For more information on the non-GAAP financial measures, please see the reconciliation tables provided in the appendix to this presentation. The accompanying reconciliation tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures. © All Rights Reserved 3#4WalkMe at a glance. Digital Adoption Platform accredited market category 4 2011 Founded E 950 Employees $191M 48% Annual Recurring Y/Y Increase in RPO and 68% LT Y/Y. Revenue 8 900M 38M Unique Users in 2020 Automations Triggered in 2020 117% $-Net Retention T4Q, customers with +500 employees. 31% Y/Y Subscription Revenue Growth. Total Revenue growth at 28% 21B Interactions with WalkMe in 2020 (1) Based on rounded numbers | (2) Financial, customer, and employee data as of June 30, 2021 | (3) Estimated 2021 Total Addressable Market#5| Realize exponential value with technology. 77% Data Digital Transformation Analytics Unlock deep analytics into the organizations tech stack and business processes. Understand how employees and customers are interacting with software and identify the challenges. Employees & Customers walk me Digital Adoption Platform Action Unified Enterprise User Experience Take action on the data unlocked and deliver elegant experiences with a no-code editor on top of any enterprise application to ensure the full value from technology. walk me © All Rights Reserved 5#6| Defining and Leading a new market category - Digital Adoption. salesforce CRM workday. HCM servicenow Service Management DocuSign E-Signature okta Identity Management walk me Digital Adoption Platform (DAP) walk me © All Rights Reserved 6#766 By 2025, 70% of organizations will use digital adoption solutions across the entire technology stack to overcome still insufficient application user experience. Gartner November 2020 (1) Based on rounded numbers | (2) Financial, customer, and employee data as of March 31, 2021 | (3) Estimated 2021 Total Addressable Market Digital Adoption TAM $34B walk me © All Rights Reserved 7#8| Our value proposition. CIO & Management Realize the ROI of digital transformation Gain visibility into the tech stack as you constantly identify gaps and problem areas to drive user adoption of digital assets. Employees & Customers Experience success Effortlessly use any digital asset as you remain efficient and productive across digital journeys. walk me © All Rights Reserved 8#9The digital transformation challenge.#10| A steady stream of new applications creates a compounding problem. CIO Lacks Visibility Without insight to digital assets and business processes, extracting value from apps requires clicking through logs in every app to find actionable data. Each new app makes it that much harder to have proper visibility to the entire tech stack. R 55 bi X O SAD S walk me Poor User Experiences Software for single use cases do not, by their nature, consider the user experience across all of the apps required to complete business processes. With no Ul standards for apps, employees and customers are increasingly overwhelmed. © All Rights Reserved 10#11Achieving digital transformation remains elusive for organizations. (1) Boston Consulting Group, Flipping the Odds of Digital Transformation Success, October 2020 70% of digital transformations fall short of their objectives (¹) X Inability to drive change in user behaviors X Proliferation of enterprise applications X Lack of analytics to optimize digital initiatives Inconsistent user adoption drives low return on technology investments. walk me © All Rights Reserved 11#12The Digital Adoption Platform.#13WalkMe's Digital Adoption Platform (DAP) is a code-free software & platform that enables organizations to measure, drive, and act to ultimately maximize the impact of their digital transformation and accelerate the return on their software investment. walk me © All Rights Reserved 13#14| The WalkMe Digital Adoption Platform. Data Management Dashboards Digital Experience Analytics Build Deployment WalkMe Engagement Analytics Session Playback & Session Stream Ul Intelligence Editor Security Employees & Customers Share walk me 1 Integration Center Guidance Experience Engagement Automation Solution Accelerators ActionBot Workstation Core Technology walk me © All Rights Reserved 14#15| Data & visibility. WalkMe provides business executives with visibility across the tech stack and the insights needed to measure, drive, and act to ultimately maximize the impact of their digital transformation strategy. Management Dashboards 000 <<> WalkMe Sales Stack song of the w The 100% Uglesforce lightning Rorganization 74% 300 g ww ing to press conn (Q 225 55% gres Cesvence Organiton Track & measure digital transformation initiatives WalkMe Engagement Analytics Active +0 Systems Overview T Digital Experience Analytics WAN by atte Analyze tech-stack adoption and utilization Ⓒonce 13 OR MA 20% 20% An Session Playback & Session Stream C < Funnole M S 100% 0 CO promoting Make data-based decisions across your organization FR C 10.5% Comp 13.3% Con O walk me © All Rights Reserved 15#16| Experience. User experience is the driving force of WalkMe. Design unified, contextual and personalized experiences that engage and drive user adoption of your digital assets on mobile, web, and desktop. Engagement By WalkMa 000 Edit 00001393 WalkMe Automation in action! WalkMe went ahead and selected the correct values to save you time! Click Next to continua. Case Reason Card is locked Dat Code Next Status Guidance Working Pronty Hol Contact Pl (214) 314-33-44 Contact Email [email protected] Cose Org web Ste Proactively drive users to complete any business process across applications ActionBot wolkime Hiw How can I help you today? Please remember, I'm a bot. Suggestions Automation Take time off Create new Opportunity with Workstation Go to an Account Go to an Opportunity Type message... X Workstation (D Simplify user experiences by automating mundane tasks- within and across applications. me Anne Orging A Serchanything Hi there Welcome to Workstation! Connect more appa wy La *commis upcoming www 0:23 1:50 2:45 Ny User rew es wiedraming 11 Incomplete Onboarding Task Open a support bryster tretie D DE A SHAL walk me Centralize and simplify search, form fills or the need to sift through convoluted flows © All Rights Reserved 16#17| Build. My Shoutout GREET 29 FORMA [x CLAIK 0 SCH B With WalkMe's code-free editor, design elegant experiences for employees and customers using a suite of features to deliver guidance and drive user engagement, productivity, and efficiency. D T Appearance Editor 000 O FPC (O Free Share Fosture Adoption Example ins wel how Wars No-code simplicity, enterprise grade functionality Solution Accelerators walking 000 Sol a woko Solutions Gallery workday. What's New in 2020 Release 27 workday Accelerated Launch Person workday Manager Year-End Performance Review workday Employee: Year-End Performance Review C Best practices and templates for ease of use and immediate time-to-value +0 000 (<> wek ge Shield Search in folder ANS P Need New Profia jupka) de profis thank Acquire Profe hanguion ATM Duty Codes Card Accuptor CSCFeature Selection Miscellaneous Feature Suppor Miscellaneous Feature Suppor e Processing DNI Expresspay Feature Support Dial Wate Faut indicators For Fraud Indicators F02 Faut indicators Fo SafeKey Debra Results ← Miscellaneous Feature Support (x b. 293 Misc. Feature Support Lo] 01-01 Click Need Help? Extended Financial Addenda +0 walk me Agile to website changes, browser updates, and platform version releases © All Rights Reserved 17#18| Core technology. Powered by Ul Intelligence, our core, patented technology leverages machine learning and Al to drive users to success. ● Deployment Ul Intelligence Security Simple and flexible deployment across any enterprise environment Cloud-native architecture for performance, reliability, and availability Security and privacy by design Integration Center VOOR 05 href="/s2.mysite.com" /> ct" href="//www.mysite.com" /> $||0; mtcreateElement("script"); script'; s:' == document.location; walk me © All Rights Reserved 18#19Customers & ROI.#20| Global customers. CONSUMER & RETAIL ULTA Nestle FINANCIAL SERVICES BANK WEST BNP PARIBAS HEALTHCARE & LIFE SCIENCES Geisinger citi Goldman Sachs EDUCATION & NON PRO Make-A-Wish EXTRADEⓇ Quest Diagnostics™ AstraZeneca KAPLAN Stanford MEDICINE (1) Based on rounded numbers | (2) Financial, customer, and employee data as of March 31, 2021 | (3) Estimated 2021 Total Addressable Market TECHNOLOGY unity Linked in ENERGY, INDUSTRIAL, & TRANSPORTATION Schneider Electric American Airlines COMMUNICATIONS BT LUMEN 2000 Global customers ......... CISCO Red Hat sprinklr 32% Fortune 500 walk me © All Rights Reserved 20#21| Demonstrated customer value & return on investment. We want to be able to effectively understand how people are using our tools and services, and WalkMe allows us to do that-to gain insights we wouldn't be able to gain otherwise. Chief Information Officer, Red Hat 20+ 93% 93% Applications utilize WalkMe to boost productivity Fewer clicks for a key sales-related process Projected annual savings in software licences Red Hat 2016 Customer Since: Company Size: ~12,000 employees Use Case: Employee Experience walk me#22| Demonstrated customer value & return on investment. 66 Ultimately, all of our investments in technology are to improve the quality of healthcare we provide to our patients, and WalkMe helps make that a reality. Head of Talent Technology, CHRISTUS Health 30+ $1M month 90%+ Applications use WalkMe to support rapid digital transformation In improved payment outcomes Open rates for internal announcements sent through Workstation CHRISTUS HealthⓇ Customer Since: 2018 Company Size: 45,000+ employees Use Case: Employee Experience 199 walk me#23| Demonstrated customer value & return on investment. 66 WalkMe allows us to create a frictionless user experience internally and externally. This helps us make our customers happier and supports our growth goals VP Customer Delight & Operations, Sprinklr 11+ 330% 84% Internal applications utilize WalkMe to improve user experience Increase in % feature adoption - 85% N Increase in engagement with new product announcements Reduction in support on travel and expense applications sprinklr Customer Since: 2019 Company Size: 2000+ employees Use Case: Employee Experience Customer Experience Change Contact Information Preas "Change to change the personal information of your contact person or press next and WalkMe will do that for you. By Wolse Next walk me#24| Total economic impact of WalkMe. 368% <3 Month Payback Period $20,042,842 Benefits from employee-facing apps Reduction in 60% training time Benefits from customer-facing services 35% Increase in customer retention FORRESTER Savings in IT and 50% Help Desk tickets Present Value Benefits over 3 Years 10% Revenue growth from current customers 20% licensing fees Savings in software 50% Savings in customer support costs Source: Forrester Consulting. The Total Economic Impact of WalkMe Digital Adoption Platform, October 2020 | Note: The Forrester Consulting study referred to above was based on information provided to Forrester Consulting during interviews they conducted with organizational decision-makers from four representative customers, selected by us, with experience using our Digital Adoption Platform, as well as Forrester's assumptions based on its own research in selecting customers to participate in the study, we sought to assemble a group of customers that would provide a fulsome representation of our platform's capabilities. As a result, we selected customers from diverse industries, each with a diverse portfolio of use cases. All customers we selected to participate in the study agreed to participate. The information provided during these customer interviews was then used by Forrester Consulting to create a modeled composite of representative customers reflecting characteristics of the interviewed organizations in order to examine the return on investment that organizations may potentially realize from deploying our Digital Adoption Platform.#25Financial Overview.#26| Q2-21 Financial Highlights. $191.0M Annual Recurring Revenue & 31% Y/Y Subscription Revenue Growth. Total Revenue Growth at 28% FR 117% $-Net Retention T4Q, Customers with +500 Employees 48% Y/Y Increase in RPO and 68% LT YOY 129% Y/Y DAP ARR Growth in (34% of total ARR) 30% Y/Y Growth in # of Customers >$100k مهما $13.4M Q2 21 Net New ARR walk me © All Rights Reserved 26#27| Multiple growth drivers. Innovate and advance platform Acquire new customers Increase usage and spend from existing customers International and industry expansion walk me Ecosystem development © All Rights Reserved 27#28| Increasing Annualized Recurring Revenue. ($ in MM) > 500 Employee Accounts < 500 Employee Accounts $93 25% 75% Q1-19 $103 23% 77% Q2-19 $117 22% 78% Q3-19 $131 20% 80% Q4-19 > 500 Employee Accounts ARR Y/Y Growth Total ARR Y/Y Growth $138 19% 81% Q1-20 59% 48% $146 18% 82% Q2-20 50% 41% $154 17% 83% Q3-20 39% 32% $164 17% 83% Q4-20 31% 25% $178 14% 86% Q1-21 36% 29% $191 13% 87% Q2-21 38% 31% walk me © All Rights Reserved 28#29| Increasing ARR from customers who have broadly adopted*. Number of DAP customers more than doubled VS. prior year and more than 3x since Q2-19 $9 Q1-19 $13 $17 $19 $21 $28 $32 +129% $42 $56 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 $64 Q2-21 103 (110% y/y growth) Customers as of Q2-21 $624k (9% y/y growth) Q2-21 ARR walk me * Customers who have purchased enterprise-wide subscriptions or who have department-wide usage of our Digital Adoption Platform across four or more applications © All Rights Reserved 29#30| Growing mix of large customers. Customers with $100K in ARR 193 211 233 265 54% 56% 59% 284 306 +30% 328 347 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 62% 63% 65% 67% 68% +8% 368 71% 397 Q2-21 73% % of ARR Customers with > $1M in ARR 5 Q1-19 9% co Q2-19 10% 00 Q3-19 13% 12 Q4-19 16% 13 14 16% 17 17% +86% 19 18% 11 11 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 +18% 18% 22 26 22% walk me 24% © All Rights Reserved 30#31| Re-accelerating $-based Net Retention. Greater than 500 Employees 117% 117% 118% 119% 121% 123% 122% 120% Trailing 4 Quarters 118% 117% Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 117% 117% 121% 123% $-Based Net Retention Definition: Trailing four quarters customer value growth; reflects customer renewals, expansion, contraction and churn. Enterprise is customers with 500 employees or more. 123% 126% 118% Quarterly View 112% 118% walk me Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 121% © All Rights Reserved 31#32| Delivering Rapid Subscription Revenue Growth. ($ in MM) Subscription Professional Services $22 8% 92% Q1-19 $25 11% 89% Q2-19 $28 1% 89% Q3-19 $30 9% 91% Q4-19 Subscription Revenue Y/Y Growth Total Revenue Y/Y Growth $34 13% 87% Q1-20 47% 56% $37 12% 88% Q2-20 45% 47% $39 13% 87% Q3-20 35% 38% $39 10% 90% Q4-20 27% 28% $43 10% 90% Q1-21 30% 25% $47 10% 90% Q2-21 31% 28% walk me © All Rights Reserved 32#33| Growing Remaining Performance Obligations. Numbers in millions Long Term $300 $200 $100 $0 $174 Short Term +36% (LT +48%) $110 $64 Mar-20 $237 $142 $95 Mar-21 $177 +48% (LT +68%) $111 $65 Jun-20 $260 $151 $109 Jun-21 walk me © All Rights Reserved 33#34GAAP to Non-GAAP Reconciliation. walk me © All Rights Reserved 34#35| Reconciliation from GAAP to Non-GAAP Results. (In thousands; unaudited) Reconciliation of gross profit and gross margin GAAP gross profit Plus: Share-based compensation expense Plus: Amortization of acquired intangibles Non-GAAP gross profit GAAP gross margin Non-GAAP gross margin Reconciliation of operating loss and operating margin GAAP operating loss Plus: Share-based compensation expense Plus: Amortization of acquired intangibles Non-GAAP operating loss GAAP operating margin Non-GAAP operating margin $ $ $ Three months ended June 30, 2021 35,609 $ 279 56 35,944 $ 76% 77% (17,838) $ 6,085 56 (11,697) $ (38)% (25)% 2020 27,577 $ 43 27,620 $ 76% 76% (3,515) $ 617 (2,898) $ (10)% (8)% Six months ended June 30, 2021 67,494 $ 456 56 68,006 $ 75% 76% (30,883) $ 9,617 56 (21,210) $ (35)% (24)% 2020 52,538 77 44 52,659 74% 74% (14,764) 1,398 44 (13,322) (21)% (19)% walk me © All Rights Reserved 35#36| Reconciliation from GAAP to Non-GAAP Results (cont.). (In thousands, except per share; unaudited) Reconciliation of net loss GAAP net loss attributable to WalkMe Ltd. Plus: Share-based compensation expense Plus: Amortization of acquired intangibles Plus: Adjustment attributable to non-controlling interest Plus: Deemed dividend to ordinary shareholders Non-GAAP net loss attributable to WalkMe Ltd. Non-GAAP net loss per share attributable to WalkMe Ltd. basic and diluted Shares used in non-GAAP per share calculations: GAAP weighted-average shares used to compute net loss per share, basic and diluted Add: Additional weighted average shares giving effect to exchange of convertible preferred shares at the beginning of the period Non-GAAP weighted-average shares used to compute net loss per share, basic and diluted $ $ $ Three months ended June 30, 2021 (22,546) $ 6,085 56 4,287 (12,118) $ (0.16) $ 24,960,581 50.075.826 75,036,407 2020 (3,607) $ 617 481 (2,509) $ (0.04) $ 13,078,576 58,030,923 71,109,499 Six months ended June 30, 2021 (46.520) $ 9.617 56 15.103 (21,744) $ (0.29) $ 19,509,660 54,603,023 74,112,683 2020 (20,477) 1,398 44 962 4,569 (13,504) (0.19) 12,935,628 57,542,205 70,477,833 walk me © All Rights Reserved 36#37| Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow. (In thousands; unaudited) Net cash provided by (used in) operating activities Less: Purchases of property and equipment Less: Capitalized software development costs Free cash flow $ $ Three months ended June 30, 2021 (6,185) $ (340) (911) (7,436) $ 2020 443 $ (151) (406) (114) $ Six months ended June 30, 2021 (9,067) $ (828) (1,622) (11,517) $ 2020 (6,985) (557) (723) (8,265) walk me © All Rights Reserved 37