Asana : Investor Overview

Asana Investor Overview

Q4FY24

Forward-Looking Statements

This presentation and the accompanying oral presentation include express and implied "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, product development, business strategy and plans, and market trends, opportunities and positioning. These forward-looking statements are based on current expectations, estimates, forecasts and projections. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. For example, our focus on long-term growth may negatively impact our near- and medium-term profitability; the market for our platform may develop more slowly than expected or than it has in the past; our platform may not develop as anticipated, including the integration of new technologies such as artificial intelligence; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers' data could damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward-looking statements as predictions of future events. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption "Risk Factors" and elsewhere in our most recent filings with the Securities and Exchange Commission (the "SEC"), including the Quarterly Report on Form 10-Q for the quarter ended October 31, 2023 and other documents we have filed, or will file, with the SEC.

Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events, or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events.

Use of Non-GAAP Financial Information

In addition to the financials presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation includes the following non-GAAP metrics: non-GAAP gross margin and non-GAAP operating margin. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. There are a number of limitations related to the use of these non-GAAP metrics versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP metrics differently or may use other metrics to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial metrics as tools for comparison. We urge you to review the reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measures set forth in the Appendix to this presentation, and not to rely on any single financial measure to evaluate our business.

This presentation and the accompanying oral presentation also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry and business. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the industry data generated by independent parties and contained in this presentation and, accordingly, we cannot guarantee their accuracy or completeness. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we compete are necessarily subject to a high degree of uncertainty and risk.

2

Overview

19%

FY24 total revenue

growth

115%

DBNRR from

$100K+ customers

Q4FY24

$653M	29%
FY24 total revenue	FY24 revenue
	growth from $100K+
	customers

20%	90%
Customer growth from	Non-GAAP
$100K+ customers	gross margin
Q4FY24	Q4FY24

Note: Growth rate is year-over-year. We calculate our DBNRR, dollar-based net retention rate, by comparing our revenues from the same set of customers in a given quarter, relative to the	3
comparable prior-year period. Our reported rate equals the average of the prior four quarters. All metrics as of quarter ended January 31, 2024.

Asana is recognized as a work management leader

"Asana's goal-oriented approach drives greater enterprise adoption"

Voice of the Customer for

Collaborative Work Management

Gartner, Voice of the Customer for Collaborative Work Management, By Peer Contributors, 28 June 2023.

Asana Received a Gartner® Peer Insights™ Customer's Choice distinction

Enterprise leader in usability, speed to implementation and more

The Forrester Wave™: Collaborative Work Management Tools, Q4 2022

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the US and internationally. Peer Insights is a registered trademark and THE GARTNER PEER INSIGHTS CUSTOMERS' CHOICE badge is a trademark and service mark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Gartner Peer Insights content consists of the opinions of individual end users based on their experiences and should not be constituted as statements of fact, nor do they represent the views of Gartner or its4 affiliates. Gartner does not endorse any vendor, product or service depicted in this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

The problem we solved

Prep	for
company	All
Hands

Nearly

3 days/ week

wasted on busy work*

*Anatomy of Work Global Index, 2023

Review	QBR

Get	upDATE	on
	GOAL
laUNCH

Prep	investor
day
notes

5

The culprit: your teams and tools are disconnected

IT	PRODUCT/ R&D	MARKETING	OPERATIONS	SALES
When is it due?		Where are
	the assets?
		Is this for brand
			or pipeline?
				What are
				the targets?

Can the operations

team support?

6

There's a smarter way to work

Goal

Strategic plan

Ops Marketing IT

Company-wide productivity

Departmental productivity

Personal productivity

7

The business value of Asana

IDC's research demonstrates how Asana helps organizations ensure collaboration, leverage automation, and better focus on priorities.

As a result, participants have achieved more effective business operations, delivered more projects on time, and ensured higher customer satisfaction.

214%

1-year ROI

33%	57%	82%
faster completion of	more projects	higher employee
digital transformation	delivered on time	satisfaction with
initiatives		collaboration tools

A clear link of Asana to more effective sales team outcomes:

"We win more business with Asana because we have access to historically what worked and what didn't ... Our sales team is gaining information from other teams to help close deals and they are providing client information to the teams that can then execute on that information."

IDC White Paper, sponsored by Asana, The Business Value of the Asana Platform, Doc. #US50642023, May 2023

8

The Asana

Enterprise Work Mission

Management

Platform

Goals
Integrity	Comms
632 members	6,183 members
Portfolios	811 members
	Data

Projects	95 members
	Growth

R&D

5,041 members

Tasks

Teams

Marketing

Operations

IT

Sales

Product

AI	Automation	Integrations	Reporting	Resource Management	Security	Workflows
		Powered by The Asana Work Graph Data Model		9

The power of Asana Intelligence

Maximize impact

Drive clarity and accountability

Scale with confidence

10