C3 ai : Q1 (opens in new window)

Business Update FY22-Q1

September 1, 2021

Disclaimer

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation other than statements of historical facts, including the business strategy, plans, and objectives for future operations of C3.ai, Inc. and its subsidiaries ("we," "us," or "our"), and our financial outlook, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "will" and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks and uncertainties. Some of these risks are described in greater detail under the heading "Risk Factors" in the Quarterly Report on Form 10-Q that we have filed with the Securities and Exchange Commission (the "SEC") for the quarter ended July 31, 2021, although new and unanticipated risks may arise. The future events and trends discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward- looking statements. Although we believe that the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Except to the extent required by law, we do not undertake to update any of these forward-looking statements after the date of this presentation to conform these statements to actual results or revised expectations.

This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk.

In addition to the financials presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation includes non-GAAP financial information. We believe that non-GAAP financial information, when taken collectively with financial information presented in accordance with GAAP, 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 non-GAAP financial 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 non- GAAP financial information with the financial information presented in accordance with GAAP, and not to rely on any single financial measure to evaluate our business.

• © 2021 C3.ai Inc. All Rights Reserved.

We began our fiscal year 2022 with strong

results in the first quarter, including year-over-year increases of 29% in revenue and 31% in

gross profit," said CEO Thomas M. Siebel. "We significantly expanded our market-partner ecosystem in Q1, entering into a strategic alliance with Google Cloud to allow the entire Google Cloud global sales and service organization to co-sell and service the entire family of C3 AI applications."

Thomas M. Siebel

Chairman and Chief Executive Officer

C3 AI

• © 2021 C3.ai Inc. All Rights Reserved.

FY22-Q1 Summary Financial Results

	FY22-Q1	% Change Y/Y
Revenue	$52.4 million	+29%
Subscription Revenue	$46.1 million	+29%
Gross Profit	$39.4 million	+31%
Remaining Performance Obligations ("RPO")	$290.6 million	+6%
Non-GAAP Remaining Performance Obligations ("RPO")	$357.3 million	+28%
Customer Count	98	+85%

Note: Non-GAAP RPO is a non-GAAP financial measure defined as our GAAP RPO plus associated cancellable contracted backlog. Refer to the Appendix for a reconciliation of this non-GAAP financial measure to the most directly comparable GAAP measure. Numbers are rounded for presentation purposes.

• © 2021 C3.ai Inc. All Rights Reserved.

C3 AI Entered into a Global Strategic Partnership with Google Cloud

• © 2021 C3.ai Inc. All Rights Reserved.