KnowBe4 : Analyst Day 2022 Presentation

Building your last line of defense

Disclaimer

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally relate to future events or our future performance. In some cases, you can identify forward-looking statements because they contain words such as "will," "expect," "plan," "anticipate," "going to," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, priorities, plans or intentions. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.

The forward-looking statements in this presentation are based on information available to us as of the date hereof, and we disclaim any obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this presentation may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. Forward-looking statements in this presentation include, but are not limited to, our expectations regarding branding and launch of new products under development; our expectations regarding future product performance; the anticipated expansion of our TAM from products under development; our expected increases in KnowBe4's ARR, revenue and expenses; our business strategy and plans and objectives of management for future operations of KnowBe4 and its subsidiaries. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties, including changes in our plans or assumptions, that could cause actual results to differ materially from those projected. These risks include our ability to develop new products and services and enhance our existing products and services, our ability to attract and retain customers, our ability to develop new products and services and enhance existing products and services, and our ability to compete in the rapidly changing cybersecurity environment in which we operate. The forward-looking statements contained in this presentation are also subject to other risks and uncertainties, including those more fully described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. 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 make.

In addition to the GAAP financials, this presentation also includes certain non-GAAP financial measures, including free cash flow, free cash flow margin and non-GAAP operating margin. The non-GAAP measures have limitations as analytical tools and you should not consider them in isolation or as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies, including companies in the company's industry, may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the company's non-GAAP financial measures as tools for comparison. Definitions of these measures along with reconciliations of these measures the most directly comparable GAAP measures is included at the end of this presentation.

This presentation also contains estimates and other statistical data made by independent parties and by the Company relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this presentation and, accordingly, it cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of its future performance and the future performance of the markets in which it competes are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results or outcomes to differ materially from those expressed in the estimates made by the independent parties and by KnowBe4.

The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company or this proposed offering.

This presentation has been prepared by KnowBe4, Inc. ("we," "us," "our," or the "Company") for the exclusive use of the party to whom the Company delivers this presentation.

Time 2:00 - 2:30pm 2:30 - 2:50pm 2:50 - 3:20pm

Topic Introduction & AMA

Presenter Stu Sjouwerman

Title

Founder, CEO & President

Sales

Stu Sjouwerman

Founder, CEO & President

Product Vision

Greg Kras

Chief Cloud Officer & Chief Product Officer

3:20 - 3:40pm

Content

John Just

Chief Learning Officer

3:40 - 4:10pm 4:10 - 4:40pm 4:40 - 5:00pm 6:00 - 7:00pm

Strategy & Competition

Perry Carpenter

Chief Evangelist & Strategy

Officer

Finance

Bob Reich

Chief Financial Officer

Q&A

Management "Speed Dating"

All Management All Management

Founder, CEO & President

Stu Sjouwerman

Mission-Driven and Experienced Management Team and Board

Stu Sjouwerman Founder, Chief Executive Officer and President

Bob Reich Chief Financial

OfficerPerry Carpenter Chief Evangelist & Strategy OfficerGreg Kras Chief Product & Cloud Officer

John Just Chief Learning

Officer