Secureworks : Investor Presentation

Investor Presentation

March 2024

Classification: //Secureworks/Public Use

Disclaimers

Non-GAAP

This presentation includes information about the Company's non-GAAP revenue,

non-GAAP gross profit, non-GAAP gross margin, non-GAAP Taegis Subscription Solutions revenue, non-GAAP Taegis Subscription Solutions cost of revenue, non- GAAP Taegis Subscription Solutions gross profit, non-GAAP Taegis Subscription Solutions gross margin, non-GAAP Managed Security Services revenue, non-GAAP Managed Security Services cost of revenue, non-GAAP Managed Security Services gross profit, non-GAAP Managed Security Services gross margin, non-GAAP subscription revenue, non-GAAP subscription cost of revenue, non-GAAP subscription gross profit, non-GAAP subscription gross margin, non-GAAP professional services revenue, non-GAAP professional services cost of revenue, non-GAAP professional services gross profit, non-GAAP professional services gross margin, non-GAAP operating expenses, non-GAAP research and development expenses, non-GAAP sales and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating income (loss), non-GAAP net income (loss), non-GAAP net income (loss) per share, weighted average common shares outstanding - diluted (non-GAAP), and adjusted EBITDA, which are non-GAAP financial measures provided as a supplement to the results provided in accordance with accounting principles generally accepted in the United States of America ("GAAP"). A reconciliation of each of the foregoing non-GAAP financial measures to the most directly comparable GAAP financial measure is provided below for each of the fiscal periods indicated.

Operating Metrics

The Company defines annual recurring revenue (ARR) as the value of its subscription contracts as of a particular date. Because the Company uses recurring revenue as a leading indicator of future annual revenue, it includes operational backlog. Operational backlog is defined as the recurring revenue associated with pending contracts, which are contracts that have been sold but for which the service period has not yet commenced.

Special Note on Forward-Looking Statements

Statements in this material that relate to future results and events are forward-looking statements and are based on SecureWorks Corp.'s current expectations. These forward-looking statements include, but are not limited to, the statements in this

presentation with respect to the Company's expectations regarding total revenue, GAAP

net income (loss), GAAP net income (loss) per share, non-GAAP net income (loss), non- GAAP net income (loss) per share, and adjusted EBITDA for the first quarter of fiscal 2025, and total revenue, total annual recurring revenue ("ARR"), GAAP net income (loss), GAAP net income (loss) per share, non-GAAP net income (loss), non-GAAP net income (loss) per share, and adjusted EBITDA for full year fiscal 2025, all of which reflect the Company's current analysis of existing trends and information. In some cases, you can identify these statements by such forward-looking words as "anticipate,"

"believe," "could," "estimate," "expect," "intend," "confidence," "may," "plan," "potential," "should" and "would," or similar expressions. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking

statements because of a number of risks, uncertainties and other factors, including those discussed in SecureWorks Corp.'s periodic reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this presentation. SecureWorks Corp. assumes no obligation to update its forward- looking statements.

Classification: //Secureworks/Public Use

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Business Overview

Classification: //Secureworks/Public Use

Our Mission

To secure human progress by outpacing and outmaneuvering the adversary

Secureworks at a Glance

$285M 4K

$366M	Taegis Platform	Customers
ARR2

FY24 Revenue1

20+ Years

		Threat Actor Intelligence
700B+		and Security Research
1,500
Daily Events
Processed3	Teammates	~98%
	Across the Globe
Industry Leader		MITRE ATT&CK®
	Framework Coverage
Gartner, Forrester, IDC, Frost & Sullivan
	175+	~3,000

1. As reported in our Q4 FY24 earnings results.
2. Reported ARR for Taegis in Q4 FY24 Earnings

Threat Groups	Incident Response and Adversarial
Monitored	Testing Engagements Annually

3 As of March 2024	5
Classification: //Secureworks/Public Use

Securing 4K Customers Across >70 Countries

9 of the Fortune 50	4 of the Top 20 Financials
20 of the Fortune 100	4 of the Top 20 Manufacturers

Library of Secureworks Case Studies: Cybersecurity Case Study Library | Secureworks	6
Classification: //Secureworks/Public Use

Banking, Financial Services

and Insurance

26%

Manufacturing

21%

SLED and Utilities

15%

Professional and

Business Services, 10%

Technology, Media and Telecom, 8%

Others 20%

Our Growth Engine - Q4 Snapshot

Continued Strong Taegis Momentum

Strong

Recurring Revenue

Trajectory

Taegis ARR

+9%

Growth YoY

Software-led

Transformation

Taegis ARR

96%

of Total ARR

Attractive

Customer

Economics

Taegis ARPC

$145K

Premium to

industry average

Scalable

Business

Model

Non-GAAP Taegis

Gross Margin

+73%

and expanding

Committed to

Profitability

Adjusted EBITDA

+$4M

and guiding to

positive EBITDA in FY25

*As reported in our Q4 FY24 Earnings Release and 10-K filing	7
Classification: //Secureworks/Public Use

We Solve for the Evolving Threat Landscape

!

!

Rapid Attack

Surface Expansion

Digital transformation initiatives are rapidly expanding customer attack surfaces.

Compliance with

Increasing

Regulation

SEC now requires

public organizations to report material cyber incidents within four business days.

Cybersecurity

Skills Shortage

Organizations have gaps in security talent as they struggle to find, hire, and retain qualified personnel.

Minimizing

Cybersecurity Risks

within Budget

Customers desire

comprehensive solutions

and outcomes at predictable prices.

Classification: //Secureworks/Public Use

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We Protect the Entire Modern Attack Surface

Taegis closes the gaps in point security controls that adversaries attempt to exploit

Market Data from Gartner, IDC Classification: //Secureworks/Public Use

EPP

Cloud

Security

IAMPrevent

Detect

Firewall

Respond

Web

Gateway

ID/PS

Email

Protection

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ATTACK SURFACE

Employees, Corporate Individual

Contractors Managed Managed

Identities Identities

Corporate	BYO	Remote
Issued	Mobile	Access
Laptop	Devices

Email

SaaS apps

Public Cloud

Temporary	OT / IoT	Private
Virtual Desktop		Datacenter

Our Taegis Platform Provides a Full Suite of Cloud-Native

Security Solutions Using AI & Machine Learning

Taegis ManagedXDR Solutions

MDR		THREAT HUNTING		OT SECURITY		VULNERABILITY		INCIDENT READINESS		SECURITY
			MANAGEMENT		& RESPONSE		TESTING

Taegis XDR Platform IDENTIFY

PROTECT DETECT

RESPOND

RECOVER

AI-Assisted Workflows & Experiences

DATA LAKE

ENTITY GRAPH

THREAT GRAPH

AI & ANALYTICS

REPORTING &

RISK &

ORCHESTRATION

DASHBOARDS

PRIORITIZATION

& AUTOMATION

Abstraction & Normalization Layer (Bi-directional Integrations)

(API/SDK)	Extensibility

Taegis-native Security Controls

TAEGIS		TAEGIS		TAEGIS
AGENT		ISENSOR		VDR
(EDR)		(IDPS)		(VM)

Integrated Security Controls

ENDPOINT	CLOUD	EMAIL		OT	CONTAINER	LOGS
NETWORK	IDENTITY	EXPOSURE	TI		APPS

Classification: //Secureworks/Public Use

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