NerdWallet : Slide Presentation

MARCH 4, 2024

Investor

Presentation

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Important Information and Disclaimer

Forward-Looking Statements

This presentation contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this presentation are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "aim," "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "opportunity," "plan," "potential," "predict," "project," "prospective," "should," "target," "will" or "would" or other similar terminology. These forward-looking statements include, but are not limited to, statements concerning: the effect of macroeconomic developments and trends, including but not limited to, inflation, rising interest rates, tightening credit markets and general macroeconomic uncertainty on our business results of operations, financial condition and stock price; our expectations regarding our future financial and operating performance, including total revenue, cost of revenue, adjusted EBITDA, non-GAAP operating income, free cash flow and Monthly Unique Users; our plans and expectations regarding capital allocation strategies and their expected results; our ability to grow traffic and engagement on our platform; our expected returns on marketing investments and brand campaigns; our expectations about consumer demand for the products on our platform; our ability to convert users into registered users and improve repeat user rates; our ability to convert consumers into matches with financial services partners; our ability to grow within existing and new verticals; our ability to expand geographically; our ability to maintain and expand our relationships with our existing financial services partners and to identify new financial services partners; our ability to build efficient and scalable technical capabilities to deliver personalized guidance and nudge users; our ability to maintain and enhance our brand awareness and consumer trust; our ability to generate high quality, engaging consumer resources; our ability to adapt to the evolving financial interests of consumers; our ability to compete with existing and new competitors in existing and new market verticals; our ability to maintain the security and availability of our platform; our ability to maintain, protect and enhance our intellectual property; our ability to identify, attract and retain highly skilled, diverse personnel; our ability to stay in compliance with laws and regulations that currently apply or become applicable to our business; the sufficiency of our cash, cash equivalents, and investments to meet our liquidity needs; our ability to effectively manage our growth and expand our infrastructure and maintain our corporate culture; our ability to successfully identify, manage, and integrate any existing and potential acquisitions; and our ability to achieve expected synergies, accretive value and other benefits from completed acquisitions. The outcomes of the events described in these forward-looking statements are subject to risks, uncertainties and other factors described in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K and subsequent filings we make with the Securities and Exchange Commission (SEC) from time to time. These forward-looking statements speak only as of the date they are made and we undertake no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by law. Accordingly, you are cautioned not to place undue reliance on any forward-looking statements.

Non-GAAP Financial Measures

This presentation includes certain "non-GAAP financial measures" within the meaning of Regulation G under the Securities Exchange Act of 1934, including adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating income (loss) and non-GAAP operating income (loss) margin. These non-GAAP financial measures may not be comparable to similarly titled measures used by other companies and should not be used as substitutes for measures reported in accordance with GAAP. For reconciliations of these non-GAAP financial measures and additional information, refer to the Appendix of this presentation.

No Offer or Solicitation

This presentation does not constitute an offer to sell or solicitation of an offer to purchase any NerdWallet, Inc. securities.

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NerdWallet at a Glance

Large Market &	History of	Compounding
Audience	Operating Excellence	Growth at Scale

$30B+	Over 70%	$599M
Market Opportunity1	Organic Traffic3	2023 Revenue

23M | +16%	$26M	27%
Average MUUs2 in 2023	2023 Non-GAAP Operating Income4	Revenue CAGR 2019-2023

2019-2023 CAGR

1. eMarketer U.S. Financial Services Digital Ad Spending projected, Aug 2023 report
2. Monthly Unique Users, defined as a unique user with at least one session in a given month as determined by unique device identifiers
3. In the trailing twelve months as of December 31, 2023, over 70% of all traffic to NerdWallet came organically through direct or unpaid channels
4. Reconciliation of Non-GAAP figures, Non-GAAP Operating Income, are included in the Appendix of this presentation

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THE PROBLEM TODAY

Trustworthy financial guidance is hard to find

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OUR MISSION

Provide clarity for all of life's financial decisions.

OUR VISION

A world where everyone makes financial decisions with confidence.

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Our History

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Our Competitive Advantage is Our Brand & Reach … and We Cut Through the Noise for Both Our Consumers and Financial Institutions

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Our Product

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Our Growth Pillars

WHERE WE	LAND &	VERTICAL	REGISTRATIONS & DATA-
STARTED	EXPAND	INTEGRATION	DRIVEN ENGAGEMENT

YOU SPENT LESS THIS

MONTH, PUT THAT EXTRA

MONEY INTO A HIGH-YIELD

SAVINGS ACCOUNT!

On the Barrelhead

now NerdWallet

. . .

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Addressable Market is Large, Growing with Opportunity for Significant Continued Expansion

Significant Future Expansion in:

Commission Dollars +

Offline-to-Online Shift

Primary Addressable Market

2023 US Financial Services Digital Ad Spend3

$30B+

15% CAGR1,3

Comparison Shopping

Marketplaces2

$4B+

NerdWallet $599M

27% CAGR1

Credit Card Applications - Share by Offer Channel4

Comparison

11% Shopping

Marketplaces

44%	Issuer Digital
Marketing

45% Issuer

Offline

Marketing

Q4 2023

1- 2019 -2023 Compounded Annual Growth Rate

2- Comparison Shopping Marketplaces include Dec 31, 2023 T12M revenue for: NerdWallet, LendingTree, QuinStreet, EverQuote, MediaAlpha; CreditKarma (T12M ended Jan 31, 2024)

3- eMarketer U.S. Financial Services Digital Ad Spending estimated & projected; June 2021, July 2022, August 2023 reports

4- Comperemedia Credit Card Application Behavior Report Q4 2023; Issuers Offline Marketing= Received via Mail, In Person, Over the Phone, Other; Issuers Digital Marketing= Received via Email, Digitally from Bank Website or App, Social Media; Comparison Shopping Marketplaces= Received Digitally outside of a Bank Website or App

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