RingCentral : RNG First Quarter 2024 Earning Presentation

Q1 2024

Earnings Presentation

May 7, 2024

©2024 RingCentral

Safe Harbor and Non-GAAP Measures

This presentation includes forward-looking statements within the meaning of the federal securities laws. These statements relate to, among other things, our business strategy and goals, growth of the market for our services, our future financial and operating results, including our GAAP and non- GAAP guidance, the assumptions underlying our guidance, expected contributions from new products, as well as macroeconomic factors, including Russia's ongoing invasion of Ukraine and the armed conflict involving Israel.

Although we believe the assumptions upon which these forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct.

Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors including those that are described in greater detail in our most recent Form 10-K filed with the Securities and Exchange Commission, and in our other filings with the Securities and Exchange Commission from time to time. All future written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the previous statements. We undertake no obligation to update any forward-looking statements that may be made to reflect events or circumstances that occur, or that we become aware of, after the date of this presentation.

In this presentation, we provide certain historical non-GAAP financial measures, which are reconciled to their directly comparable GAAP financial measures. These reconciliations are presented in the Appendix at the end of this presentation.

We provide guidance on forecasted non-GAAP operating margin, non-GAAP tax rates, non-GAAP EPS, free cash flow and free cash flow margin. Reconciliations of our forecasted non-GAAP operating margin to the most directly comparable GAAP financial measure is presented in the Reconciliation slides at the end of this presentation. We have not reconciled our forecasted non- GAAP EPS to its respective forecasted GAAP measure because we do not provide guidance on it.

We do not provide guidance on forecasted GAAP EPS because of the inherent uncertainty and complexity involved in forecasting the intercompany remeasurement gain (loss), gain (loss) associated with investments, gain (loss) on early debt conversions, and provision (benefit) from income taxes, which could be significant reconciling items between the non-GAAP and respective GAAP measures. The intercompany remeasurement gain (loss) is affected by the movement in various exchange rates relative to the U.S. Dollar, which is difficult to predict and subject to constant change. We do not provide guidance on gain (loss) associated with investments as it is based on future share prices, which are difficult to predict and subject to inherent uncertainties. We do not provide guidance on gain (loss) on debt early conversions as it is based on future conversion requests, future share prices, and interest rates, which are difficult to predict and are subject to inherent uncertainties. We do not provide guidance on forecasted GAAP tax rates as we do not forecast discrete tax items as they are difficult to predict. The provision (benefit) from income taxes, excluding discrete items, is expected to have an immaterial impact to our GAAP EPS. We utilized a projected long-term tax rate in our computation of the non-GAAP income tax provision. For fiscal 2024, we have determined the projected non-GAAP tax rate to be 22.5%. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort. We have not reconciled free cash flow or free cash flow margin guidance to net cash provided by (used in) operating activities because we do not provide guidance on the reconciling items between net cash provided by (used in) operating activities and free cash flow due to the uncertainty regarding, and the potential variability of, these items. Accordingly, a reconciliation of net cash provided by (used in) operating activities to free cash flow or free cash flow margin guidance is not available without unreasonable effort.

We also provide other measures such as software subscriptions annualized exit monthly recurring subscriptions (ARR), mid-market and enterprise ARR, enterprise ARR, and bookings.

2	©2024 RingCentral

RingCentral at a Glance

Global

Scale

Expanding

Profitability with Consistent Customer Retention

400K+	#1	~4K	18
Customers	In UCaaS Revenue	Employees (2)	Languages +
	Market Share (1)		46 MVP Countries

82%	24%	21%	99%+
Q1'24	Q1'24 Adj.	Q1'24	Q1'24 Net Monthly
Subscription GM% (3)	EBITDA Margin (3)	Operating Margin (3)	Subscription
	Up 340 bps Y/Y	Up 350 bps Y/Y	Dollar Retention(4)

Unless otherwise noted, company metrics as of Q1'24

1. Source: Synergy Research Group, UC Market Tracker - UCaaS Firmographics, Worldwide Revenue for Q1'22 to Q4'23, March 19, 2024
2. Full time employees, as of 12/31/2023
3. Non-GAAPfinancial measure; see appendix for a reconciliation to the most comparable GAAP measure
4. See appendix for definition.

©2024 RingCentral

3

Strategic Priorities

Deliver durable, profitable growth and value from core

Expand Total Addressable Market through multi-product portfolio

Drive continued free cash flow (FCF) generation and materially reduce SBC

4	©2024 RingCentral

Commitment to Trust
100x Better Reliability vs Three Nines		23
					straight quarters
	Annual	99.9%	99.99%	99.999%	of 99.999%
	downtime	performance
	8.8 hours	52.6 minutes	5.3 minutes
	allowed

"RingCentral is fully redundant geographically in every location where the company operates. This is a key differentiator between RingCentral and its competitors as many are not geographically redundant internationally."

5	©2024 RingCentral

Trusted communications for everyone

Mobile Worker

RingEX

Customers

RingEX and RingCX

Customer Service Teams
RingCX	Marketers
		RC Events

Knowledge Workers

RingEX

Frontline Workers

Sales Teams

RingSense for Sales

6	Push-to-Talk	©2024 RingCentral

Innovation

Leader

RingSense AI

7	©2024 RingCentral

New RingSense AI Capabilities in RingEX

Real-time smart notes

Instantly captures call notes, key updates, decisions taken, and action items for on-the-spot reference, boosting accuracy and engagement in conversations.

Post-call highlights

Enrich recordings with AI- generated distilled summaries, topics, coaching tips, and recording highlights

AI writer

AI speeds up work by composing messages tailored to customers input and recent chats, in a customizable tone and length

Generative AI search

Simplify search by naturally asking AI questions for fast, intuitive info retrieval from real- time and historical conversations across calls, SMS, and voicemail.

8	AI for Personal Productivity

©2024 RingCentral

Why RingCX wins

AI-powered	Rich omnichannel	Easy-to-deploy	Simple-to-use	Best value
•	Before, during and	•	Single pane of glass for	•	Administer from	•	Unified with	•	Unlimited
	post interactions		voice and all digital		single interface		RingEx App		minutes
•	AI-based Workforce	•	Omnichannel reporting	•	Pre-packaged	•	Key CRM integrations	•	Lowest total cost
	Engagement		and analytics		deployment options				of ownership

EX+CX | Trusted Communications

9	©2024 RingCentral

What RingCX customers are saying

"What amazes me is how intuitive RingCX is. It provides voice and all digital channels in a single

pane of glass."

"RingCX enabled a seamless transition from our legacy system and will deliver significant cost- savings as we transform our service operations."

"We switched to RingCX, which translated to $1000/agent cost savings per year."

"Our decision to upgrade to RingCX was driven by the desire to leverage the cutting-edgetechnologies of voice, digital and AI."

"RingCX gives us everything we need - voice call routing, fantastic analytics, and digital options all in a single package."

"We knew we needed a more robust IVR system, and RingCX's capabilities stood out among

the competition."

10	©2024 RingCentral