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© 2026 UiPath, Inc. All rights reserved. This material is for informational purposes only. No part of it may be reproduced, distributed, or transmitted without the prior written consent of UiPath, Inc. The UiPath word mark, logos, and robots are trademarks or registered trademarks of UiPath, Inc. and its affiliates in the United States and other countries. See TMEP §906. UiPath Investor Day September 22, 2026
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Safe Harbor 2 Statements we make in this presentation may include statements which are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, which are usually identified by the use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and variations of such words or similar expressions, including the negatives of these words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements include, but are not limited to, statements regarding: our financial guidance for the third fiscal quarter and full year 2027; our ability to drive and accelerate future growth and operational efficiency and grow our platform, product offerings, and market opportunity; our business strategy; plans and objectives of management for future operations; the estimated addressable market opportunity for our platform and the growth of the enterprise automation market; the success of our platform and new releases including the incorporation of AI; the success of our collaborations with third parties; our customers’ behaviors and potential automation spend; and details of UiPath’s stock repurchase program. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, risks and uncertainties related to: our expectations regarding our revenue, annualized renewal run-rate (ARR), expenses, and other operating results; our ability to effectively manage our growth and sustain profitability; our ability to acquire new customers and successfully retain existing customers; the ability of the UiPath Platform to satisfy and adapt to customer demands and our ability to increase its adoption; our ability to grow our platform and release new functionality in a timely manner, including integration of artificial intelligence and machine learning technologies and capabilities; our ability to responsibly develop and use AI technologies in compliance with evolving legal and regulatory requirements; future investments in our business, our anticipated capital expenditures, and our estimates regarding our capital requirements; the costs and success of our marketing efforts and our ability to evolve and enhance our brand; our growth strategies; the estimated addressable market opportunity for our platform and for orchestration and automation in general; our reliance on key personnel and our ability to attract, integrate, and retain highly-qualified personnel and execute management transitions; our ability to obtain, maintain, and enforce our intellectual property rights and any costs associated therewith; the effect of significant events with macroeconomic impacts, including but not limited to military conflicts, changes in international trade policies, and other changes in geopolitical relationships and inflationary cost trends, on our business, industry, and the global economy; our reliance on third-party providers of cloud- based infrastructure and large language models; our ability to compete effectively with existing competitors and new market entrants, including new, potentially disruptive technologies; the size and growth rates of the markets in which we compete; and the price volatility of our Class A common stock. Further information on risks that could cause actual results to differ materially from our guidance and other forward-looking statements can be found in our Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the United States Securities and Exchange Commission (SEC) on March 25, 2026, and in other filings and reports that we may file from time to time with the SEC. Any forward-looking statements contained in this presentation are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements. Our fiscal year end is January 31, and our fiscal quarters end on April 30, July 31, and October 31. All third-party trademarks, including names, logos and brands, referenced by us in this presentation are property of their respective owners. All references to third-party trademarks are for identification purposes only. Such use should not be construed as an endorsement of the products or services of us. Non-GAAP financial measures and key performance metric UiPath uses certain non-GAAP financial measures in this presentation, including non-GAAP gross margin, non-GAAP operating expenses, non-GAAP sales & marketing, non-GAAP research & development, non-GAAP general & administrative, non-GAAP operating income and margin, and non-GAAP adjusted free cash flow. Non-GAAP financial measures are financial measures that are derived from the condensed consolidated financial statements, but that are not presented in accordance with generally accepted accounting principles in the United States, or GAAP. We believe they are useful to investors, by excluding the effects ofitems that do not reflect the ordinary earnings of our operations, and as a supplement to GAAP measures. Investors should consider these non-GAAP financial measures in addition to, and not as a substitute for, our financial performance measures prepared in accordance with GAAP. Further, our non-GAAP information may be different from the non-GAAP information provided by other companies. Please refer to the Appendix hereto, the tables in our earnings release, and the Investor Relations section of our website for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures. Reconciliation of non-GAAP gross margin, non-GAAP sales & marketing, non-GAAP research & development, non-GAAP general & administrative, non-GAAP operating margin targets to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity, and low visibility with respect to the charges excluded from this non-GAAP measure, including, in particular, the effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results. We encourage investors to consider our GAAP results alongside our supplemental non-GAAP measures, and to review the reconciliation between GAAP results and non-GAAP measures that is included at the end of this presentation. Annualized Renewal Run-rate (ARR) is the key performance metric we use in managing our business because it illustrates our ability to acquire new subscription customers and to maintain and expand our relationships with existing subscription customers. We define ARR as annualized invoiced amounts per solution SKU from subscription licenses and maintenance and support obligations assuming no increases or reductions in customers’ subscriptions. ARR does not include the costs we may incur to obtain such subscription licenses or provide such maintenance and support. ARR also does not reflect nonrecurring rebates payable to partners (upon establishing sufficient history of their nonrecurring nature), the impact of nonrecurring incentives (such as one-time discounts provided under sales promotional programs), and any actual or anticipated reductions in invoiced value due to contract non- renewals or service cancellations other than for certain reserves (for example those for credit losses or disputed amounts). ARR does not include invoiced amounts associated with perpetual licenses or professional services. ARR is not a forecast of future revenue, which is impacted by contract start and end dates and duration. ARR should be viewed independently of revenue and deferred revenue as ARR is an operating metric and is not intended to replace these items. Dollar-based net retention rate represents the rate of net expansion of our ARR from existing customers over the preceding 12 months. We calculate dollar-based net retention rate as of a period end by starting with ARR from the cohort of all customers as of 12 months prior to such period end (Prior Period ARR). We then calculate the ARR from these same customers as of the current period end (Current Period ARR). Current Period ARR includes any expansion and is net of any contraction or attrition over the preceding 12 months but does not include ARR from new customers in the current period. We then divide total Current Period ARR by total Prior Period ARR to arrive at dollar-based net retention rate. Dollar-based net retention rate may fluctuate based on the customers that qualify to be included in the cohort used for calculation and may not reflect our actual performance. Investors should not place undue reliance on ARR or dollar-based net retention rate as an indicator of future or expected results. Our presentation of these metrics may differ from similarly titled metrics presented by other companies and therefore comparability may be limited. Use of Data Information in this presentation is based on data and analyses from various sources as of the date of this presentation, unless otherwise indicated. References to "$" are to U.S. dollars. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size, growth and other industry data. These estimates and data involve a number of assumptions and limitations, and you are cautioned not to give them undue weight. While the company believes these third-party sources to be reliable as of the date of this presentation, we have not independently verified the estimates and other statistical data generated by independent parties and contained in this presentation and, accordingly, cannot guarantee their accuracy or completeness. Any independent industry publications used in this presentation were not prepared on the company's behalf. In addition, while the company believes its own internal estimates and research are reliable, such estimates and research have not been verified by any independent source. Expectations, assumptions, estimates and projections of the future performance of relevant markets in which the company operates are necessarily subject to a high degree of uncertainty and risk. Accordingly, such information and data may not be included in, may be adjusted in, or may be presented differently in, any registration statement, prospectus, proxy statement or other document to be filed or furnished with the SEC.
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Agenda TIME SESSION PRESENTER 11:30 – 11:50 Company Overview and PATH forward Daniel Dines, Founder & CEO 11:50 – 12:50 Product Strategy and Roadmap Raghu Malpani, CPTO 12:50 – 1:05 Break 1:05 – 1:30 GTM Overview & Strategy Ashim Gupta, COO 1:30 – 2:00 Customer Panel Eric Bouchard, President Americas 2:00 – 2:30 Financial Update Hitesh Ramani, CFO 2:30 – 3:00 Q&A Session Executive Team 3:00 – 3:45 Investor Reception Executive Team
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Company Vision Daniel Dines Founder and Chief Executive Officer
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DURABLE GROWTH UiPath's growth and profitability at $2B+ scale INCREASED PROFITABILITY CASH GENERATION $2B+ ARR1,3 24% Non-GAAP Adjusted Free Cash Flow Margin 2,4 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) 2. See Appendix for reconciliation of GAAP to Non -GAAP results 3. FY27 Guidance as of September 3, 2026 4. FY27 Modeling Points as of September 3, 2026 24% Non-GAAP Operating Margin 2,3 >3.5X since IPO ~28% improvement since IPO ~20% improvement since IPO
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20 YEARS AGO People absorbed complexity More work meant more people 10 YEARS AGO RPA extended capacity Repetitive work gained reliable rails TODAY Orchestration governs complexity Work moves across people and technology The work outgrew the workforce Automation extended capacity. Orchestration now connects the enterprise.
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Workflows Our journey to Business Orchestration and Automation RPA Pioneer 2005 – 2018 A software robot for every person RPA ★ Founded 2005 · Studio, Robot, Computer Vision Business Automation Platform 2019 – 2024 A full automation platform, infused with AI IPO 2021 · PATH ◆ ACQUIRED ProcessGold (2019) process mining ◆ ACQUIRED Re:infer (2022) communications mining Business Orchestration and Automation Platform 2025 → Agents + robots + people, orchestrated Orchestration Deterministic Automation Agentic Automation IDP/IXP Application Testing Industry Solutions ◆ ACQUIRED Peak (2025) decision-intelligence agents ◆ ACQUIRED WorkFusion (2026) financial-crime compliance Processes Agentic DiscoveryAPI IDP RPA Process / Task Mining Product categories Acquisitions Tasks 1 2 3
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✓ UiPath named a Leader in Gartner® Magic Quadrant for Business Orchestration and Automation Technologies 1 2026 Industry Analyst Recognition Disclaimer: Gartner does not endorse any company, vendor, product or service depicted in its publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner publications consist of the opinions of Gartner’s business and technology insights organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this publication, including any warranties of merchantability or fitness for a particular purpose. Gartner and Magic Quadrant are trademarks of Gartner, Inc. and/or its affiliates. This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from UiPath. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved. 1. Gartner, Magic Quadrant for Business Orchestration and Automation Technologies, By Saikat Ray, Arthur Villa, Sachin Joshi, Adam Briggs, Tushar Srivastava, Mike Warren, 14 September 2026
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Evolving AI landscape is a secular tailwind AI PROPOSES PEOPLE DECIDE AUTOMATION EXECUTES
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The hardest problem isn't the choice of AI model
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The hardest problem isn't the choice of AI model It’s the missing process context.
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Process context lives in countless places.
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Continuous improvement Process Maestro | Pre-packaged UiPath solutions Task RPA | API | Agents | People Foundation AI Trust Layer | Security | Observability | Data LIVE | CUSTOMER-OWNED | GOVERNED Built on modern AI-native stack Map of Work One of the core missing ingredients: Process context
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Your Business Orchestration and Automation Platform * roadmap Build • Test • Deploy • Operate • Improve • Govern with Coding Agents F O U N D A T I O N Trust Trust every action Governance • AI Trust Layer • Guardrails • Audit compliance • Security • FedRAMP • HIPAA Observability See every action Traceability • Insights • ROI dashboards • Cost metrics • Anomaly detection Extensibility Right model, every task Open and extensible • Model agnostic / BYO Model • System agnostic Interoperability Connect your systems Connector catalog • Connector builder • SDKs • Event triggers A2A • MCP • CLI Deployment Flexibility Run it your way Cloud • On -premises • Dedicated Data & Documents Understand your content Structured • Semi-structured • Entity Services • Unstructured • Context Grounding • Business Ontology P R O C E S S C O N T E X T Map of Work Model how work runs Structured Knowledge • Operating Knowledge • Decision Ledger* • Prebuilt Maps / SME -attested Maps S Y S T E M O F A C T I O N D E T E R M I N I S T I C C A P A B I L I T I E S C O G N I T I V E C A P A B I L I T I E S Process Orchestration • Case Management • Business RulesProcess Coordinate work end to end Case Agent • Multi-agent Orchestration API • RPA (UI Automation) • FunctionsTask Do the actual work Task Agents • Computer Use • Self Healing Enterprise AppsExperience Surface work to humans Cowork • HITL
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Large and growing addressable market1 T otal addressable market, $B 2026 2030 $66B $142B Business Orchestration & Automation Industry Solutions Testing 1. Based on Gartner Research, UiPath Analysis, and additional research reports
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Why UiPath Wins Combining process context, orchestration, deterministic automation and cognitive capabilities on one platform. End-to-end automation for complex processes Build faster with coding agents across the whole lifecycle Integrated into your tech- stack and model agnostic Open and secure ecosystem Horizontal platform, vertical depth with enterprise context Tangible ROI
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17 Key themes for today We have built the leading Business Orchestration and Automation platform Differentiated and durable right to win combining orchestration, governance, exactness, and AI Transformed operating model supports sustainable profitable growth Go-to-market model is deepening customer relationships and creating multiple vectors of durable growth
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Product Strategy and Roadmap Raghu Malpani Chief Product and Technology Officer
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19 Key themes for today Transformed operating model supports sustainable profitable growth We have built the leading Business Orchestration and Automation platform Differentiated and durable right to win combining orchestration, governance, exactness, and AI Go-to-market model is deepening customer relationships and creating multiple vectors of durable growth
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Agenda UiPath – your business orchestration and automation platform01 Map of Work and verticalized use-cases02 UiPath Solutions 03 Process Atlas and Cartographer04 Dark testing factory 05 Why UiPath06 Here and Now:
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Enterprises are adopting AI faster than they can run it & the problem is compounding with increasing AI needs 66% 29% Why deployments stall — % citing as a top barrier 32% 32% 33% 36% 37% Change management Talent & skills Governance & compliance Data quality & readiness Integration with existing systems The gap is orchestration. report agentic AI fully embedded or adopted among select teams say AI workflows have fully embedded orchestration capabilities Source: UiPath 2026 Agentic AI & Orchestration Report, “Beyond Adoption: Orchestrating the Agentic Enterprise.” Survey conduc ted by Wakefield Research for UiPath among 590 C -suite and IT practitioners (50/50 quota) at companies with ≥$1B annual revenue (public sector: ≥1,000 employees), across the US, UK, France, Germany, India and Singapore; UK and India oversampled to 100 r espondents per market at ≥$500M revenue; fielded May 25 – June 8, 2026 via online survey, with representative industry quotas. Independent figures: Gartner (June 2025); MIT NANDA (Aug 2025). But only
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22 W H Y O R C H E S T R A T I O N The steps work. The handoffs, control, ownership don't. Work is fragmented across people, systems, robots, and agents. More agents add more coordination points. Orchestration is the missing layer. Robot ? System ? Agent handoffs between every kind of actor → Orchestration Systems Agents People T H E P R O B L E M T O D A Y T H E P R O B L E M C O M P O U N D I N G T H E A N S W E R
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Maestro orchestrates · governs · adapts — across every actor Agents Robots People Systems Data Documents Maestro is the orchestration layer for the enterprise Durable execution fabric
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Maestro is the complete business orchestration platform Across process types, complexity, buyer personas, and users ▤ ◇ </>
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Maestro Case Dynamic, stage-driven case lifecycle for complex, semi-structured investigative work. WHO Ops teams & case managers DIFFERENTIATORS • Agent-led orchestration • Cross-system • Event-driven • End-to-end platform • AI-native build • Durable execution TOP USE CASES Claims, loan origination, fraud investigation COMPETES WITH Case management platforms
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Maestro BPMN Visual BPMN standard modeling for structured processes. WHO Enterprise architects & process owners DIFFERENTIATORS • Agent-first BPMN nodes • Optimize via process mining • End-to-end platform • AI-native build • Durable execution TOP USE CASES Telecom number portability , procure-to-pay, order-to- fulfilment COMPETES WITH Traditional process orchestration platforms
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Maestro Flow A single canvas for coding agents and developers to build and visualize flows. WHO Developers + pro-code builders DIFFERENTIATORS • Governance & security • Instance-level control • Durable execution • End-to-end platform • AI-native build TOP USE CASES Order-to-cash, procure-to-pay, onboarding COMPETES WITH Hyperscalers & orchestration frameworks
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✓ UiPath named a Leader in Gartner® Magic Quadrant for Business Orchestration and Automation Technologies 1 2026 Industry Analyst Recognition Disclaimer: Gartner does not endorse any company, vendor, product or service depicted in its publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner publications consist of the opinions of Gartner’s business and technology insights organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this publication, including any warranties of merchantability or fitness for a particular purpose. Gartner and Magic Quadrant are trademarks of Gartner, Inc. and/or its affiliates. This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from UiPath. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved. 1. Gartner, Magic Quadrant for Business Orchestration and Automation Technologies, By Saikat Ray, Arthur Villa, Sachin Joshi, Adam Briggs, Tushar Srivastava, Mike Warren, 14 September 2026
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10 Enterprise customers with $1M+ ARR1 running Maestro in production2 We're seeing promising momentum from our customers 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) 2. Since launch in 1Q 2026
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30 Customers are already transforming with UiPath C Y C LE TIM E C O ST Q U A L ITY J U D G M EN T C O N T R O L 10 min to provision mobile accounts from 10 days TELCO 96% Improvement in time to resolve disputes BANKING 97% faster to resolve incidents than target ENERGY
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The rules of the work, written down. LIVE | CUSTOMER-OWNED | GOVERNED Map of Work The judgment behind every decision, and why. Decision LedgerStructured Knowledge Operating Knowledge What your experienced people know. Map of Work is the process context that stores how work actually runs.
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• Case plans • Business policies and rules • Business ontology Structured Knowledge The rules of the work, written down. Map of Work
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Map of Work Operating Knowledge What your experienced people know. • Institutional knowledge • Exceptions handled • Worked examples
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Map of Work Decision Ledger The judgment behind every decision, and why. • Who decided • On what evidence • Continuous improvements
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The rules of the work, written down. LIVE | CUSTOMER-OWNED | GOVERNED Map of Work The judgment behind every decision, and why. Decision LedgerStructured Knowledge Operating Knowledge What your experienced people know. Map of Work is the process context that stores how work actually runs.
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How the Map of Work gets drawn and maintained
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The Cartographer Owns and maintains the enterprise Map of Work THE PERSON UiPath Cartographer THE PRODUCT Assists the Cartographer in delivering faster, better outcomes across the enterprise ▪ Consolidates sources of context ▪ Builds process maps ▪ Supports collaboration and reviews ▪ Maintains each map as a live, governed asset How the Map of Work gets drawn and maintained
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The governed context Map of Work CAPTURE UiPath Cartographer 1 BUILD UiPath for Coding Agents 2 UiPath Maestro RUN 3 LEARN Decision Ledger4 UiPath reimagines your enterprise processes in a live, self-improving loop.
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UiPath has curated Maps of Work for verticalized processes.100+
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Where you start depends on your process.
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Prebuilt Maps with UiPath Solutions Deployed Common across industries and departments. So we built the whole map. Complete on day one.
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Prior Authorization Medical Necessity Analysis Claim Denial Resolution and Prevention Denial Prevention, Denial Resolution Medical Record Summarization Summarization, CodingPrebuilt Maps with UiPath Solutions Deployed Common across industries and departments. So we built the whole map. Complete on day one. Healthcare Mfg · Telecom · Utilities Financial Services Cross Industry Inventory Management Inventory Mgmt, Demand Forecasting Quote-to-Order Quote Intake, Quote Price Optimization Merchandising (Retail) Markdown, Promotions, Rebuy, Replenishment Loan Origination Loan Setup, Loan Closing and Compliance (QA/QC) Financial Crime Compliance Name Screening, Transaction Screening, Adverse Media, Fraud Alert, High-Risk Reviews, KYC Reviews Source-to-Pay Procurement Management, Invoice Processing, Supplier Communications Order-to-Cash Collections and Dunning
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An afternoon of configuration. Not a quarter of code. Your policyYour tiers Your line Your numbers. Not ours. Drop in the document. The rules follow. Where the machine stops and a person starts. ≤ $5,000 Cost center manager ≤ $25,000 + Director > $100,000 + CFO PRO-002 Rev 7 18 rules live Suggest Decide Built by us. Maintained by us. Improved by us. You manage your business and we’ll manage the rest.
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Build your own map Customized Dozens of maps for the processes too variable to pre-build. For your bespoke processes.
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Process Atlas with expert attestations Adapted Dozens of maps for the processes too variable to pre-build. Better with every edition.
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Healthcare Provider Patient Appointment Scheduling Medical Billing & Patient Collections Provider Credentialing Referral Intake and Indexing Payer Claims Intake, Validation & Adjudication Clinical Quality Event Life Sciences Clinical Trial Site Activation Supplier Onboarding Mfg · Telecom · Utilities Production & Quality Production Deviation Investigation Quality Control to Product Release Supplier Non-Conformance Supply Chain & Orders Supply Planning & MRP Exceptions CPG/FMCG Order to Cash CPG/FMCG PO Intake Provisioning & Onboarding Order-to-Fulfillment / Provisioning Service Configuration & Activation Large-Scale Migration / Onboarding Assurance & Incidents Equipment Warranty Resolution Fault Mgmt & Trouble Ticketing Major Service Outage War Room Network Incident Investigation Asset, Compliance & Billing Asset Maintenance Scheduling Environmental & Reg. Compliance Meter-to-Cash Financial Services & Insurance Merchant Onboarding Payment Processing & Exceptions Auto Loan Servicing Lien Release & Title Transfer GAP Claim Processing Total Auto Loss Cards Dispute & Chargeback Mgmt Payment Exceptions Wire Transfer Exceptions Client Onboarding / Acct Opening Deficiency Balance Mgmt & Collections Cross-Industry Supply Chain & Logistics Demand-to-Fulfill Shipment Exception Warehouse-to-Ship Orchestration Finance & Accounting Procurement Exception Mgmt Credit Risk Assessment Sourcing & Contracting HR & Workforce Hire-to-Retire Background Investigations Workplace Incident Investigation IT Operations Ticket-to-Resolution Change Management Workflow Major Incident War Room Sales & Commercial Lead-to-Opportunity Enterprise Deal Desk Claims Management (P&C) FNOL & Claim Triage Motor Claims Property Claims Total Loss & Salvage Commercial Underwriting Risk Rating & Pricing Submission & Referral Review Fraud Investigation Suspicious-Claim Triage Investigator Collaboration Life & Annuity Claims Beneficiary & Death Claims Workers' Comp Claims Disability & Leave Coordination Broker Placement Submission Intake Process Atlas with expert attestations Adapted Dozens of maps for the processes too variable to pre-build. Better with every edition.
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Prebuilt Maps with UiPath Solutions Deployed Common across industries and departments. So we built the whole map. Complete on day one. Process Atlas with expert attestations Adapted Dozens of maps for the processes too variable to pre-build. Better with every edition. Build your own map Customized Draw any process from scratch with UiPath Cartographer. Always there. For your bespoke processes.
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UiPath Cartographer, now generally available
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UiPath Cartographer, now generally available Build your Map of Work, collaboratively Cartographer maps how work runs today. Build with UiPath Process Atlas Expert-vetted process knowledge across industries
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UiPath for Coding Agents is generally available, across the full platform.
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UiPath for Coding Agents is available, across the full platform. Build at agent speed. Run at enterprise scale. 3-5x faster time to deployment 59% productivity boost
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Business orchestration and automation, at work across your enterprise. A world of work in motion Cobalt Ridge UiPath Cartographer Captures how work actually happens Map of Work Source of truth for how work gets done Coding Agents for UiPath Turn understanding into end to end orchestration
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More applications, more agents, more things that break. A world of work in motion Cobalt Ridge
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The pressure gap? We feel it every day. THE GAP 2025 Today 20272022 2023 2024 Testing demand Testing supply Source: Faros AI: AI Engineering Report 2026, April 2026
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We create risk faster than we can test. THE GAP 2025 Today 20272022 2023 2024 Software quality Source: Faros AI: AI Engineering Report 2026, April 2026 Number of bugs per dev +54% Software quality declines Deployments per week -11% Software delivery slows Task completion per dev +34% Development speeds up Testing demand Testing supply
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Recognized as a Leader in software testing by Gartner, Forrester, and IDC
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Dark testing factory Where software testing runs itself
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Manual testing — you perform every step by hand. Run API test cases Run web test cases Run mobile test cases Run SAP test cases Run Oracle test cases Run Epic test cases Regenerate & deploy data Reset test environment Package failed tests Fix failed automation Review and approve fixes Commit changes Define test strategy Set quality objectives Weight risk factors Evaluate requirements Identify risk factors Synchronize requirements Design test cases Review test design Prioritize test cases Define test scope Create test automation Review test automation Refactor test automation Debug test automation Configure environments Spin-up environment Generate test data Anonymize test data Generate test report Teardown environment Submit defects Notify key stakeholders Update test strategy Improve coverage Provision test data Schedule test runs Run usability scenarios Run security scenarios Performance test execution Monitor test runs Human
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Automated testing — You script it, the machine runs it. Run API test cases Run web test cases Run mobile test cases Run SAP test cases Run Oracle test cases Run Epic test cases Regenerate & deploy data Reset test environment Packaged failed tests Fix failed automation Review and approve fixes Commit changes Evaluate requirements Weight risk factors Define test strategy Set quality objectives Identify risk factors Design test cases Review test design Prioritize test cases Define test scope Create test automation Review test automation Refactor test automation Debug test automation Configure environments Spin-up environment Generate test data Anonymize test data Generate test report Teardown environment Submit defects Notify key stakeholders Update test strategy Improve coverage Provision test data Schedule test runs Run usability scenarios Run security scenarios Performance test execution Monitor test runs Human Automation Synchronize requirements
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AI-augmented testing — You prompt AI, it guides you. Run API test cases Run web test cases Run mobile test cases Run SAP test cases Run Oracle test cases Run Epic test cases Regenerate & deploy data Reset test environment Packaged failed tests Fix failed automation Review and approve fixes Commit changes Evaluate requirements Weight risk factors Define test strategy Set quality objectives Identify risk factors Design test cases Review test design Prioritize test cases Define test scope Create test automation Review test automation Refactor test automation Debug test automation Configure environments Spin-up environment Generate test data Anonymize test data Generate test report Teardown environment Submit defects Notify key stakeholders Update test strategy Improve coverage Provision test data Schedule test runs Run usability scenarios Run security scenarios Performance test execution Monitor test runs Synchronize requirements Human Automation Agent
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Run functional regression tests Execution passed? Changes approved? Start End Yes No Yes No Autonomous testing — You draw the lane, AI executes. Human Automation Agent Spin-up environment Generate test data Provision test data Run API test cases Run web test cases Run mobile test cases Run SAP test cases Run Oracle test cases Run Epic test cases Performance test execution Fix failed automation Review and approve fixes Teardown environment Generate test report Notify key stakeholders Commit changes Packaged failed tests Reset test environment Regenerate & deploy data
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We're not walking toward autonomy, we're racing. Speed Gain Manual Testing1 - You perform every step by hand Autonomy Automated Testing2 1x You script it, the machine runs it Autonomy AI-Augmented Testing3 3x You prompt AI, it guides you Autonomy Autonomous Testing4 6x You draw the lane, AI executes Autonomy
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Autonomy moves from feature to factory. Speed Gain Manual Testing1 - You perform every step by hand Autonomy Automated Testing2 1x You script it, the machine runs it Autonomy AI-Augmented Testing3 3x You prompt AI, it guides you Autonomy Autonomous Testing4 6x You draw the lane, AI executes Autonomy Dark Testing Factory5 12xYou set goals, testing runs itself Autonomy
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Release at full speed without the quality tax. Turning testing from something you run to something that runs.
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THE ENTERPRISE PROCESS End user-experience Business outcomes Long-running orchestration Identity, RBAC, secrets Case management & exceptions An audit trail a regulator accepts Retry, recovery, compensation Data residency & sovereignty Human approval & escalation with SLAs FedRAMP · HIPAA · SOC 2 Mixed-estate reach, UI, API, mainframe Change control & upgrades Document understanding Vertical process knowledge Build on the platform. Don’t rebuild the platform. ▼ Build with UiPath Process controls
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Why UiPath Wins Combining process context, orchestration, deterministic automation and cognitive capabilities on one platform. End-to-end automation for complex processes Build faster with coding agents across the whole lifecycle Integrated into your tech- stack and model agnostic Open and secure ecosystem Horizontal platform, vertical depth with enterprise context Tangible ROI
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GTM Overview & Strategy Ashim Gupta Chief Operating Officer
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68 Key themes for today We have built the leading Business Orchestration and Automation platform Differentiated and durable right to win combining orchestration, governance, exactness, and AI Go-to-market model is deepening customer relationships and creating multiple vectors of durable growth Transformed operating model supports sustainable profitable growth
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The market and our customers T opics 01 Strategy to reach our customers 02 How we operationalize the strategy 03
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AI agents expected by 2028 — yet 65% of enterprises struggle to scale and just 13% have adequate governance higher cost per agentic -AI interaction and 93% of enterprises already exceed their AI budgets more software defects expected by 2028 from prompt-to-app tools of organizations expect vertical, domain-specific agents Proliferation of AI agents driving greater orchestration complexity andgovernance Token economics favor deterministic execution AI code generation raises the bar for testing Rising demand for industry specific solutions with faster time-to-value 3 Secular tailwinds expand our growth opportunity 150,000 ~30x 2,500% 90% Gartner / KPMG EY / McKinsey Gartner IDC / AWS
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Patient Appointment Scheduling Medical Billing & Patient Collections Provider Credentialing Referral Intake and Indexing Claims Intake, Validation & Adjudication Clinical Quality Event Clinical Trial Site Activation Supplier Onboarding Production Deviation Investigation Quality Control to Product Release Supplier Non-Conformance Supply Planning & MRP Exceptions CPG/FMCG Order to Cash CPG/FMCG PO Intake Order-to-Fulfillment / Provisioning Service Configuration & Activation Large-Scale Migration / Onboarding Fault Mgmt & Trouble Ticketing Major Service Outage War Room Network Incident Investigation Asset Maintenance Scheduling Environmental & Reg. Compliance Meter-to-Cash Payment Processing & Exceptions Lien Release & Title Transfer GAP Claim Processing Total Auto Loss Wire Transfer Exceptions Deficiency Balance Mgmt & Collections Demand-to-Fulfill Shipment Exception Warehouse-to-Ship Orchestration Procurement Exception Mgmt Credit Risk Assessment Sourcing & Contracting Hire-to-Retire Background Investigations Workplace Incident Investigation Ticket-to-Resolution Change Management Workflow Major Incident War Room Lead-to-Opportunity Enterprise Deal Desk FNOL & Claim Triage Motor Claims Property Claims Total Loss & Salvage Risk Rating & Pricing Submission & Referral Review Suspicious-Claim Triage Investigator Collaboration Beneficiary & Death Claims Disability & Leave Coordination Submission Intake We solve the hardest problems for long running complex workflows...
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Mfg · TMT · UtilitiesHealthcare & Life Sciences Other IndustriesOther IndustriesCross IndustryBanking, Financial Services, & Insurance Banking, Financial Services, & Insurance … across a wide range of industries Illustrative process examples PROVIDER Patient Appointment Scheduling Medical Billing & Patient Collections Provider Credentialing Referral Intake and Indexing PAYER Claims Intake, Validation & Adjudication Clinical Quality Event LIFE SCIENCES Clinical Trial Site Activation Supplier Onboarding Production & Quality Production Deviation Investigation Quality Control to Product Release Supplier Non-Conformance Supply Chain & Orders Supply Planning & MRP Exceptions CPG/FMCG Order to Cash CPG/FMCG PO Intake Provisioning & Onboarding Order-to-Fulfillment / Provisioning Service Configuration & Activation Large-Scale Migration / Onboarding Assurance & Incidents Fault Mgmt & Trouble Ticketing Major Service Outage War Room Network Incident Investigation Asset, Compliance & Billing Asset Maintenance Scheduling Environmental & Reg. Compliance Meter-to-Cash Merchant Onboarding Payment Processing & Exceptions Auto Loan Servicing Lien Release & Title Transfer GAP Claim Processing Total Auto Loss Cards Dispute & Chargeback Mgmt Payment Exceptions Wire Transfer Exceptions Client Onboarding / Acct Opening Deficiency Balance Mgmt & Collections Insurance FNOL & Claim Triage Motor Claims Property Claims Total Loss & Salvage Risk Rating & Pricing Submission & Referral Review Suspicious-Claim Triage Investigator Collaboration Beneficiary & Death Claims Disability & Leave Coordination Submission Intake Supply Chain & Logistics Demand-to-Fulfill Shipment Exception Warehouse-to-Ship Orchestration Finance & Accounting Procurement Exception Mgmt Credit Risk Assessment Sourcing & Contracting HR & Workforce Hire-to-Retire Background Investigations Workplace Incident Investigation IT Operations Ticket-to-Resolution Change Management Workflow Major Incident War Room Sales & Commercial Lead-to-Opportunity Enterprise Deal Desk
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Deep enterprise penetration provides a powerful foundation for growth 73 Energy & Utilities Communication & Media Technology Financial Services & Insurance Healthcare & Lifesciences ManufacturingTransportation & Logistics 9 OUT OF TOP 10 8 OUT OF TOP 10 8 OUT OF TOP 10 7 OUT OF TOP 10 7 OUT OF TOP 10 5 OUT OF TOP 10 6 OUT OF TOP 10 Based on the Fortune 500
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74 The Strategy in Practice Land New Logos Drive Platform Adoption Expand customers into new products with Professional Services, and FDEs delivering customer value realization Scaling Partner Ecosystem Partner-led advisory and delivery accelerates time-to-valueLand larger, higher quality logos
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75 Landing New Logos at Scale Focusing cost of sale on highest return areas 2Q 2026 TTM 2Q 2027 TTM 2Q 2026 TTM 2Q 2027 TTM Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) New Logos ≥$100K ARR1 Average Land Size ≥$100K ARR1
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The market and our customers T opics 01 Strategy to reach our customers 02 How we operationalize the strategy 03
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We’re expanding our buyer personas to efficiently capture the market 77 ONE CENTRALIZED BUYER FOUR BUYERS – MOVING UP IN THE ORGANIZATION RPA Center of Excellence A centralized team that develops and executes automations for the enterprise. Center of Excellence RPA + AI AI Architect Business Orchestration and Automation Line of business buyer Industry solutions Head of Applications T esting
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78 Three go-to-market motions expand how we land and grow Business Orchestration & Automation Industry Solutions and Use Cases Application Testing Center of Excellence AI Architect Line of business buyer Head of Applications Motion 2 Motion 3Motion 1
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79 Platform expansion turns task automation into broader process orchestration Expand to high-volume, business critical, workflows e.g., Intelligent extraction, comms mining Automate the hardest, longest running processes with Orchestration BPMN / Case Mgmt. Initial land Full product Breadth TASKS WORKFLOWS PROCESSES 90%+ of $1M+ ARR1,2 customers already use at least one AI product on the platform Land with for specific use cases RPA automation and API workflows Automate and accelerate judgment Agents RPA COE + AI Teams AI Architects with proof of value from RPA COE + AI Teams Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) 2. As of July 31, 2026
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$- $1 $2 $3 $4 $5 $6 2Q 2018 2Q 2019 2Q 2020 2Q 2021 2Q 2022 2Q 2023 2Q 2024 2Q 2025 2Q 2026 2Q 2027 Millions Deterministic AI Total ARR Leading Global Insurance Company Landed with deterministic and expanded the platform enterprise - wide leveraging agents and orchestration Deterministic Foundation Enterprise-Wide Agentic Scale 50% productivity gains 40% cost reductions FDE Driven IXP , Maestro, Agents, Deterministic Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) ~20X ARR1 expansion
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81 Industry solutions open new buyers and accelerate time-to-value Solutions package multiple pieces of the platform Value drivers 1 Faster time to value 2 Domain expertise 3 Pricing aligned to the outcome Financial Crimes Chief Compliance Officer Healthcare RCM VP Revenue Cycle Loan Origination VP Lending Office of the CFO CFO / Controller Further industry use cases and customer customization through Atlas and pre-configured process maps
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$0.0 $0.5 $1.0 $1.5 $2.0 $2.5 2Q 2022 2Q 2023 2Q 2024 2Q 2025 2Q 2026 2Q 2027 Deterministic AI Total ARR End-to-end process automation and oCFO industry solutionsExpanded the platform with oCFO industry solutions for accounts payable >45 additional use cases identified IXP , Agents, Maestro, oCFO Industry Solution Fortune 500 Automotive Retail Company Deterministic Foundation Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) ~16X ARR1 expansion Millions
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83 Application T esting expands our reach Land Partners Land with a specific application testing use case Scale Expand across modules and other applications UiPath Test Cloud MSP / BPO partner Delivers testing as a service End client End client End client One partner deal reaches many end clients Expand Business Orchestration and Automation / Industry Solutions Buyer: COE, AI Architect, or line of business Test Cross sell to a new buyer: app test developer
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$0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 2Q 2021 2Q 2022 2Q 2023 2Q 2024 2Q 2025 2Q 2026 2Q 2027 Deterministic AI Application Testing Total ARR Deterministic Foundation IDP & Test Cloud Expansion Scaling across Test, Agents, & Coding Agents Across Automation Lifecycle App Testing ~11X ARR expansion ~11X ARR expansion From citizen developer to Platform Expansion + Application Testing Agentic Testing Supporting S/4 HANA Migration Deterministic, Agents, App Test, Coding Agents Leading U.S. Oil & Gas Company ~24X ARR1 expansion Millions Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR)
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85 Expanding our delivery capabilities to accelerate customer outcomes Forward Deployed Engineers Partner Ecosystem Professional Services Extend the platform Advise and deliver Deliver at scale
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The market and our customers T opics 01 Strategy to reach our customers 02 How we operationalize the strategy 03
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Our go-to-market segmentation Strategic Core Commercial Largest opportunity to scale and innovate – dedicated teams for every customer Core Enterprise – programmatic approach with domain experts and implementation partners High volume, channel supported motion
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Global footprint expands our reach Go-to-market prioritization by region Mature North America, France, DACH, UK & Ireland, Japan Growth Latin America, rest of Europe, Australia & NZ, Middle East, Korea, South & Southeast Asia Selective Africa, China, Central Asia Japan ~8% of salesforce Americas 31% of salesforce Europe incl. Romania hub 42% of salesforce MEA & APAC 19% of salesforce
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Flexible buying models support every stage of adoption Platform Core platform capabilities that unlock, govern, and scale automation and orchestration workloads across the enterprise Examples: Standard, Enterprise Consumable product capabilities that cover most capabilities including AI and Orchestration usage Examples: Platform Units Core automation capabilities that form the workforce of the platform and allow people to engage with the platform Examples: Unattended Robots, Pro Users, Plus Users, Basic Users Consumables Robots & Users
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Resell UiPath products DIAMOND PLATINUM GOLD AUTHORIZED NEW Deliver value-added services DIAMOND PLATINUM GOLD NEW Recognize testing expertise Badges make verified capability visible to customers Partners may qualify across multiple pathways RECOGNITION Contributions across the customer lifecycle DIFFERENTIATION Clearer ways for partners to stand out REWARDS Performance tied to customer success and growth Partner ecosystem expands reach & accelerates customer value Resell Pathway Services Pathway Global Test Partner
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… strengthened by a world class Global network of partners1 1. Partner sources can be found on https://www.uipath.com/partners Tech Partners GTM Partners
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Customer Panel Srini Nanduri VP, Head of Data and AI PPL Corporation Jairo Quiros SVP Global Business Services & Product Engineering Centre’s Equifax Pramod Dibble Director, AI and Automation, Technology, and Data USAA Paru Puttanna SVP, Workplace Technology Voya Financial Hosted by: Eric Bouchard, President Americas
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Financial Update Hitesh Ramani Chief Financial Officer
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94 Key themes for today We have built the leading Business Orchestration and Automation platform Differentiated and durable right to win combining orchestration, governance, exactness, and AI Transformed operating model supports sustainable profitable growth Go-to-market model is deepening customer relationships and creating multiple vectors of durable growth
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Driving durable growth ARR1 $ in millions Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) and dollar based net retention rate. 2. ARR, YoY ARR growth rate, Dollar based net retention rate, and Dollar based gross retention rate as of July 31, 2026. 3. FY27 Guidance as of September 3, 2026 $925 $1,204 $1,464 $1,666 $1,853 $2,068 2022 2023 2024 2025 2026 2027G 97% Dollar-based gross retention rate 1,2 12% ARR1,2 growth rate year-over-year 109% Dollar-based net retention rate 1,2 95 3
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96 Diversity of Customers1 25% 16% 13% 13% 11% 10% 11% Banking, Financial Services, & Insurance Manufacturing Public Sector Healthcare & Lifesciences Technology, Media & Telecommunications Professional Services Other Banking, Financial Services, & Insurance ~20% ARR CAGR2,3 Manufacturing ~20% ARR CAGR2,3 Public Sector ~25% ARR CAGR2,3 Healthcare & Lifesciences ~35% ARR CAGR2,3 Notes: 1. ARR Industry breakout as of July 31, 2026 2. See Appendix for definition of Annualized Renewal Run -rate (ARR) and dollar based net retention rate. 3. CAGR reflects the compound annual growth rate from 2Q 2022 to 2Q 2027
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97 Our largest customers continue to scale 0 500 1,000 1,500 2,000 2,500 3,000 2Q 2023 2Q 2024 2Q 2025 2Q 2026 2Q 2027 Customers $100K - $1M Customers $1M - $5M Customers ≥$5M $- $500 $1,000 $1,500 $2,000 2Q 2023 2Q 2024 2Q 2025 2Q 2026 2Q 2027 <$100K $100K - $1M $1M - $5M ≥$5M Customer Count by ARR1 Cohort ARR1 by Customer Cohort Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR)
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98 Customer Spend Momentum Top customer average ARR1 Top 25 Customers Top 100 Customers 2Q 2020 2Q 2024 2Q 2027 2Q 2020 2Q 2024 2Q 2027 ~5x expansion ~6x expansion $2M+ $7M+ $10M+ $1M+ $4M+ ~$6M Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR)
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Land and Expand Business Model1,2 $- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 99 Top 25 Customers Multiple 62X Top 50 Customers Multiple 36X Top 100 Customers Multiple 21X Notes: 1. ARR by customer cohort 2. See Appendix for definition of Annualized Renewal Run -rate (ARR)
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Multiple vectors for future growth
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101 Three product engines for growth Business Orchestration & Automation Industry Solutions and Use Cases Application Testing
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102 $250M+ AI ARR1, 2 >50% AI ARR1, 2 growth year over year Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) 2. AI ARR includes Agentic, Maestro, IDP and Vertical Solutions 3. As of July 31, 2026
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Stronger execution is translating into improving DBNRR1 ▪ Continued execution ▪ Driving AI products across the base ▪ Higher value use cases 107% 109% 4Q 2026 2Q 2027 Notes: 1. See Appendix for definition of dollar based net retention rate.
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AI products increases the value of our installed base 114% Total Customers $100K-$1M DBNRR2 >120% BOAT Customers1 $100K-$1M DBNRR 1. BOAT Customers have both Deterministic and AI ARR as of July 31, 2026 2. See Appendix for definition of dollar based net retention rate. ▪ BOAT customers1 demonstrate stronger durability ▪ BOAT adoption creates a foundation for broader, more complex process transformation ▪ Broader platform adoption accelerates deterministic automation
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105 BOAT2 Drives Larger Land Sizes 1Q 2026 2Q 2026 3Q 2026 4Q 2026 1Q 2027 2Q 2027 BOAT Deterministic Median Land ARR1 – BOAT2 vs Deterministic 4X Larger BOAT2 vs Deterministic Lands Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) 2. BOAT Customers have both Deterministic and AI ARR as of July 31, 2026
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$0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0 2Q 2022 2Q 2023 2Q 2024 2Q 2025 2Q 2026 2Q 2027 Deterministic AI Total ARR Deterministic Foundation Expansion to Intelligent Document Processing Fortune 500 Global Medical Supply Company Deterministic Foundation – scaled to an agentic AI platform Agentic Vendor Chargeback Process Expected 7 Figure Cost Savings UiPath FDE Driven Expansion FDE Supported Agentic Expansion Notes: 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) ~24X ARR1 expansion Millions
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Continued focus on operating leverage
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8% 18% 23% FY22 FY24 FY26 108 Strong track record of driving operating leverage Non-GAAP Operating Margin1 1,500 BPS improvement 1. See Appendix for reconciliation of GAAP to Non -GAAP results
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Best in class gross margin 1. See Appendix for reconciliation of GAAP to Non -GAAP results 2. FY 2027 Modeling Points as of September 3, 2026 84% Non-GAAP Gross Margin1,2 Flexible on-prem and cloud deployment supports strong unit economics and enterprise requirements for secure AI at scale
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110 Continued investment in innovation while driving operational efficiency Non-GAAP R&D1 (% of Revenue) Non-GAAP S&M1 (% of Revenue) Non-GAAP G&A1 (% of Revenue) 15% 16% 16% FY22 FY24 FY26 47% 43% 36% FY22 FY24 FY26 16% 11% 10% FY22 FY24 FY26 • Sustained investment in innovation • Optimized global engineering footprint • AI and automation increasing developer productivity • Efficient land-and-expand motion • Investment focused on highest-return opportunities • AI and automation increasing productivity • Global talent strategy improving cost efficiency 1. See Appendix for reconciliation of GAAP to Non -GAAP results
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Our global footprint supports scale and growth 1. See Appendix for definition of Annualized Renewal Run -rate (ARR) 2. As of Q2 fiscal year 2027 3. Customer count based on parent entity Americas International ~50% Total ARR(1,2) ~25% of total customers(2,3) ~1,000 employees ~50% Total ARR(1, 2) ~75% of total customers(2,3) ~3,000 employees
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S&M Customer Zero: Agentic Automation Sales Ops & Marketing Agents research prospects, analyze buy signals, and prep outreach. Deal Ops Maestro orchestrates deal booking, licensing and billing in one flow. Sales Surfaces next-step and forecast guidance in Salesforce - savings reps ~20K+ hours annually. Process Documentation Agents draft 45% of process documentation content, cutting time from design to build. Development Coding agents have cut internal development effort by an estimated 60%. Testing T est agents scale test coverage. Finance & Accounting Agents analyze complex contracts terms and flag exceptions. Accounting Close Robots draft journal entries, agents review exceptions, and humans approve - accelerating the close cycle. People, IT and Legal Performance review cycles run themselves, and IT tickets and access requests auto-approve against policy. R&D G&A 112 Agentic automation running across every business function ~80 High Impact Agentic solutions live today
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Stock-Based Compensation1 113 Balancing talent investment with shareholder value 58% 28% 18% 12% 0% 10% 20% 30% 40% 50% 60% 70% FY 2022 FY 2024 FY 2026 1H FY 2027 1. Stock-based compensation as a percentage of revenue
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Sustainable GAAP profitability 114 -56% -13% 4% 7% -60% -50% -40% -30% -20% -10% 0% 10% 20% FY22 FY24 FY26 1H FY27 GAAP Operating Margin 114 ▪ Operating leverage driving GAAP profitability ▪ Continued focus on reducing SBC as a percentage of revenue ▪ Disciplined investment supporting sustainable, profitable growth
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Strong Cash Flow Supporting Meaningful Shareholder Returns $309 $328 $372 $425 400 420 440 460 480 500 520 540 560 580 $200 $250 $300 $350 $400 $450 FY 2024 FY 2025 FY 2026 FY 2027G Non-GAAP Adjusted Free Cash Flow Weighted Average Shares Outstanding $1B+ returned to shareholders to date <0% Dilution for FY 2027 115 1 1. See Appendix for reconciliation of GAAP to Non -GAAP results 2. FY 2027 Modeling Points as of September 3, 2026 2 $ In millions
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Long-term model
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CONFIDENTIAL Guidance1 Notes: 1. Guidance inherently is forward-looking and is subject to the risks and uncertainties noted elsewhere in these materials and in our special notes regarding forward-looking statements disclosed and to be disclosed in our SEC filings 2. See Appendix for definition of Annualized Renewal Run-rate (ARR) 3. Reconciliation of non-GAAP operating income guidance to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from this non-GAAP measure; in particular, the effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results. 3Q 2027 Guidance1 Revenue $440 million – $445 million ARR2 $1.992 billion – $1.997 billion Non-GAAP Operating Income3 ~$100 million FY 2027 Guidance1 Revenue $1.789 billion – $1.794 billion ARR2 $2.065 billion – $2.070 billion Non-GAAP Operating Income3 ~$445 million 117
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Long-term model1,2 Notes: 1. Fiscal year ended January 31. 2. Excludes stock-based compensation & other Non-GAAP adjustments (see appendix for GAAP reconciliation). 3. Figures presented in millions are calculated based upon the respective underlying unrounded data. Minor differences in totals or percentages may exist due to rounding 4. Reflects our long-term targets, which are not projections or estimates of future financial results. Our ability to achieve these long-term targets is subject to various risks and uncertainties. There are important factors that could cause our future results to differ materially from those suggested by these long-term targets, including, but not limited to, the risks and uncertainties described under the heading “Risk Factors” disclosed and to be disclosed in our SEC filings. There can be no assurance that we will achieve the long-term targets presented on this slide in a timely manner or at all. Please see Slide 2 for additional information regarding forward-looking statements. % of Total Revenue Expense Category At IPO1,3 FY 20261,3 Non-GAAP gross margin2 90% 85% Non-GAAP sales & marketing2 60% 36% Non-GAAP research & development2 16% 16% Non-GAAP general & administrative2 17% 10% Non-GAAP operating margin2 (4%) 23% Stock Based Compensation as a percentage of revenue Long-term Profile 4 80%+ 29% − 31% 14% − 16% 6% − 8% 30%+ 8-10% 118
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Our Capital Allocation Framework Platform innovation and expansion Complement existing capabilities Increase platform value Organic Reinvestment Strategic M&A Capital Returns Opportunistic repurchases Customer acquisition and expansion Strong balance sheet
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Key takeaways Large and expanding market Multiple growth vectors Proven operating leverage Strong cash generation
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Questions?
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Appendix
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123 Definitions and calculations Annualized Renewal Run-rate (ARR): Annualized Renewal Run-rate (ARR) is the key performance metric we use in managing our business because it illustrates our ability to acquire new subscription customers and to maintain and expand our relationships with existing subscription customers. We define ARR as annualized invoiced amounts per solution SKU from subscription licenses and maintenance and support obligations assuming no increases or reductions in customers’ subscriptions. ARR does not include the costs we may incur to obtain such subscription licenses or provide such maintenance and support. ARR also does not reflect nonrecurring rebates payable to partners (upon establishing sufficient history of their nonrecurring nature), the impact of nonrecurring incentives (such as one-time discounts provided under sales promotional programs), and any actual or anticipated reductions in invoiced value due to contract non- renewals or service cancellations other than for certain reserves (for example those for credit losses or disputed amounts). ARR does not include invoiced amounts associated with perpetual licenses or professional services. ARR is not a forecast of future revenue, which is impacted by contract start and end dates and duration. ARR should be viewed independently of revenue and deferred revenue as ARR is an operating metric and is not intended to replace these items. Dollar-Based Net Retention Rate: Dollar-based net retention rate represents the rate of net expansion of our ARR from existing customers over the preceding 12 months. We calculate dollar-based net retention rate as of a period end by starting with ARR from the cohort of all customers as of 12 months prior to such period end (Prior Period ARR). We then calculate the ARR from these same customers as of the current period end (Current Period ARR). Current Period ARR includes any expansion and is net of any contraction or attrition over the preceding 12 months but does not include ARR from new customers in the current period. We then divide total Current Period ARR by total Prior Period ARR to arrive at dollar-based net retention rate. Dollar-based net retention rate may fluctuate based on the customers that qualify to be included in the cohort used for calculation and may not reflect our actual performance.
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GAAP to Non-GAAP reconciliation1 2Q 2027 2Q 2026 GAAP revenue $410.3 $361.7 GAAP gross profit $329.7 $297.3 GAAP gross margin 80% 82% Add: Stock-based compensation expense $3.2 $6.0 Amortization of acquired intangible assets $3.0 $1.2 Employer payroll tax expense related to employee equity transactions $0.1 $0.1 Restructuring costs $0.1 $0.1 Non-GAAP gross profit $336.0 $304.8 Non-GAAP gross margin 82% 84% 1. Figures presented in millions are calculated based upon the respective underlying unrounded data. Minor differences in totals or percentages may exist due to rounding Gross margin ($M) 124
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GAAP to Non-GAAP reconciliation1 (cont’d) 1. Figures presented in millions are calculated based upon the respective underlying unrounded data. Minor differences in totals or percentages may exist due to rounding 2Q 2027 2Q 2026 GAAP general and administrative $50.1 $52.9 Less: Stock-based compensation expense $6.9 $12.5 Employer payroll tax expense related to employee equity transactions $0.1 $0.1 Restructuring costs $1.4 $0.4 Change in fair value of contingent consideration $0.8 $(0.3) Non-GAAP general and administrative $40.9 $40.1 2Q 2027 2Q 2026 GAAP sales and marketing $164.6 $166.3 Less: Stock-based compensation expense $13.9 $23.4 Amortization of acquired intangible assets $3.0 $1.0 Employer payroll tax expense related to employee equity transactions $0.3 $0.4 Restructuring costs $3.3 $0.5 Non-GAAP sales and marketing $144.0 $140.9 2Q 2027 2Q 2026 GAAP research and development $83.4 $98.3 Less: Stock-based compensation expense $21.0 $36.1 Employer payroll tax expense related to employee equity transactions $0.2 $0.5 Restructuring costs $0.1 $0.3 Non-GAAP research and development $62.1 $61.5 125
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GAAP to Non-GAAP reconciliation1 (cont’d) 2Q 2027 2Q 2026 GAAP revenue $410.3 $361.7 GAAP operating income (loss) $31.6 $(20.2) GAAP operating margin 8% (6)% Add: Stock-based compensation expense $45.0 $78.0 Amortization of acquired intangible assets $6.0 $2.3 Employer payroll tax expense related to employee equity transactions $0.6 $1.1 Restructuring costs $5.0 $1.4 Change in fair value of contingent consideration $0.8 $(0.3) Non-GAAP operating income $89.0 $62.3 Non-GAAP operating margin 22% 17% 1. Figures presented in millions are calculated based upon the respective underlying unrounded data. Minor differences in totals or percentages may exist due to rounding Operating margin ($M) 126
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GAAP to Non-GAAP reconciliation1 (cont’d) 1. Figures presented in millions are calculated based upon the respective underlying unrounded data. Minor differences in totals or percentages may exist due to rounding 2Q 2027 2Q 2026 GAAP net cash provided by operating activities $30.7 $41.6 Purchases of property and equipment $(1.4) $-- Cash paid for employer payroll taxes related to employee equity transactions $0.9 $1.2 Net (receipts) payments of employee tax withholdings on stock option exercises $(0.1) -- Cash paid for restructuring costs $0.5 $1.8 Non-GAAP adjusted free cash flow $30.6 $44.5 GAAP net cash used in investing activities $(15.7) $(0.7) GAAP net cash used in financing activities $(34.9) $(111.6) Non-GAAP adjusted free cash flow ($M) 127
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Thank you