ON24 DIGITAL EXPERIENCE PLATFORM

© 2021 ON24, Inc. | Confidential

ON24

DIGITAL EXPERIENCE PLATFORM

August 2021


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meaning. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include statements relating to our future financial

performance, our business prospects and strategy, our market opportunity and the potential growth of that market, our anticipated financial position, our liquidity and capital needs and

other similar matters. These forward-looking statements are based on management’s current expectations and assumptions about future events, which are inherently subject to

uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those expressed in, or implied by, the forward-looking

statements included in this presentation as a result of various factors, including: our ability to sustain our recent revenue growth rate in the future, attract new customers and expand

sales to existing customers; fluctuations in our performance; our history of net losses and expected increases in our expenses; competition and technological development in our markets

and any decline in demand for our solutions or generally in our markets; our ability to expand our sales and marketing capabilities and otherwise manage our growth; the impact of the

COVID-19 pandemic; disruptions, interruptions, outages or other issues with our technology or our use of third-party services, data connectors and data centers; any cybersecurity-

related attack, significant data breach or disruption of the information technology systems or networks on which we rely; our sales cycle, our international expansion and our timing of

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from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation.

Accordingly, you are cautioned not to place undue reliance on these forward-looking statements.

The information herein does not purport to be complete or to contain all relevant information. Statements contained herein are made as of the date of this presentation unless stated

otherwise, and we undertake no obligation to update any statement after the date hereof, except as required by law.

Certain information contained in this presentation relates to or is based on market and industry data from publicly available industry publications, as well as the Company’s own internal

estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no

representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this

presentation involves a number of assumptions and limitations, including with respect to the COVID-19 pandemic, and there can be no guarantee as to the accuracy or reliability of such

assumptions. Finally, while we believe our own internal research is reliable, such research has not been verified by any independent source.

This presentation includes certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, not a substitute for or superior to, measures of financial

performance prepared in accordance with U.S. GAAP. See the Appendix for a reconciliation of non-GAAP financial measures to the most directly comparable GAAP measures.

3 © 2021 ON24, Inc. | Confidential

DIGITAL

EXPERIENCE

PLATFORM

Revenue Run Rate

Q2’21(1)

$200M+

Revenue Growth

Q2’21 YoY(1)

47%

Gross Margin

Q2’21 (2)

78%+

Global Customers

Q2’21

2,078

Current Employees(4)

690TAM(3)

$44B

Digital Experiences per

Year(5)

200K+

Engagement Minutes per

Year(5)

2B+

Cash-flow Positive(6)

(1) Excludes Legacy revenue. (2) Non-GAAP Gross Margin (3) As of June 30, 2020; Source: 2017 US Census data for number of potentially addressable companies within each of the

Enterprise, Mid-market and SMB categories in the United States. Includes firms in Educational Services, Finance and Insurance, Health Care and Social Assistance, Information,

Management of Companies and Enterprises, Manufacturing, Other Services (except Public Administration), Professional, Scientific, and Technical Services, Real Estate and Rental and

Leasing. (4) Full-time employees as of June 30, 2021. (5) Year determined as TTM for period ending June 30, 2021. (6) For the period April 1, 2021, to June 30, 2021.


TECHNOLOGY MANUFACTURERSFINANCIAL

SERVICESLIFE SCIENCE

PROFESSIONAL

SERVICES

MEDIA & INFO

SERVICES

ENABLING INDUSTRIES THROUGH ENGAGEMENT


135%Increase in

Marketing Pipeline

200%Increase in Engaged

Health Care Professionals

#1Pipeline-Driving

Channel

156%Increase in Leads

400%Increase in Campaign

Leads to Pipeline

38% 200% 10%

7XExpansion in

Client Reach

5XIncrease in Marketing

Qualified LeadsExceeded SQL targets Increase in Average

Deal Size

More pipeline compared

to in person events

7.2%Conversion to Paying

Customer

45%Increase in Enabled

Distribution Partners

CUSTOMER ROI EXAMPLES


SYSTEM OF ENGAGEMENT

DATA

ENGAGEMENTPERSONALIZATION

EXPERIENCES


DIGITAL RE-ENGINEERING OF B2B GO-TO-MARKET

96% of B2B sales teams shifted their

go-to-market model during COVID-19,

and most B2B decision makers believe

the new model is just as effective as, or

more effective than, their prior model.(2)

96%

BUSINESS TRANSFORMATION

~80%

By 2025, almost 80% of B2B sales

interactions between suppliers and

buyers will occur in digital channels.(1)

GO-TO-MARKET

Nearly 70% of B2B buyers prefer to

research online on their own.(3)

~70%

SELF-EDUCATED BUYER

(1) Gartner, Future of Sales 2025: Why B2B Sales Needs a Digital-First Approach, September 2020 (used in reference to estimates of the percentage of B2B sales interactions expected to occur using digital channels by 2025);

(2) McKinsey & Company, How B2B Sales Have Changed During COVID-19, July 2020; (3) Forrester, Welcome to the B2B Marketing Renaissance, January 2019.

8 © 2021 ON24, Inc. | Confidential(1) Average number based on experiences with more than 5 attendees for period ending Jan 1, 2020, to June 30, 2021; (2) Represents the minimum number of datapoints per attendee collected for events for the year

determined as TTM for period ending June 30, 2021; (3) Year determined as TTM for period ending June 30, 2021.

THE ERA OF ENGAGEMENT IS HERE

Customer Data

Cu

sto

me

r E

ng

ag

em

en

t

Websites

Email

Advertising

Social

Physical Events

200+ 50+ 20+

2B+ 3M+

Attendees(1) Minutes(1) Data points

per attendee(2)

Engagement min

per year(3)

Professionals

per month(3)

THE ON24 MULTIPLIER EFFECT

Engagement of Average ON24 Live Experience

Engagement Across ON24 Network


ON24 DATA ADVANTAGE

✓ Click

✓ View

✓Download

COMPANYMetropolis

INDUSTRYFinancial Services

ROLEDirector, Network Security

ENGAGEMENT DATA

NAME

Paula Price

AUTOMATED MARKETING

ANALYTICS

✓ Attended event

ENGAGEMENT DATA

PHYSICAL EVENT ANALYTICS

COMPANYMetropolis


ROLEDirector, Network Security

NAME

Paula Price

✓ Polls Answered

✓ Surveys Answered

✓ Questions Asked

✓ Resources Viewed

✓ Live Attended

✓ Live Minutes

✓ Group Chat

✓ Social Shares

✓ Colleague Referrals

✓ CTAs Clicked

ENGAGEMENT DATA

NAMEPaula Price

COMPANYMetropolis


ROLE, Network Security

ON24 PROSPECT ANALYTICS

✓ Demos Booked

✓ Meetings Booked

✓ Free Trials Started

✓ Contact Requests

✓ Pricing Requests

✓ Chat with Sales

BUYING SIGNALS



DIGITAL EXPERIENCE PLATFORM

Rest API

Library

Map, CRM, BI

ON24

Engagement

Hub

ON24 EliteON24 Virtual

Conference

ON24 Target

ON24 AI Driven

Personalization

Engine

Engagement

and Prospect

Analytics



TURN ENGAGEMENT INTO ACTIONABLE DATA WITH ON24

TARGET PERSONA

Paula Price

COMPANYMetropolis

INDUSTRYFinancialServices

ROLEVice President,

Network Security


ENGAGEMENT TOOLS

BUYING SIGNALS

CONVERSATIONAL

INTELLIGENCE

VIDEO BREAKOUTS

1:1 MEETINGS

PERSONALIZATION

Welcome! Would you like

to speak to a sales rep

about CloudTek

solutions?

Yes, I’m ready!

Not yet.

AUTOMATED

CAPTIONING

LIVE EXPERIENCE PERSONALIZED EXPERIENCE LIVE EXPERIENCEALWAYS-ON EXPERIENCE

Attends “TekTALKS” and signs

up for Cloudtek Free Trial


ON24 TARGET

Engages with Free Trial content, subscribes

to CloudTek Learning Hub and talks to Sales

Check out the

CloudTek Learning Hub

Subscribe Now

ON24 TARGET




Talk to

Sales

Videos

Watched

Resources

Downloaded

Minutes

Engaged

Subscribe

to Content


Visits CloudTek Learning Hub and registers for

upcoming user conference, TekNEXT 2020

ON24 ENGAGEMENT HUB

Recommended

For You

Recommended

For You

Recommended

For You






Event

Registration

Videos

Watched

Resources

Downloaded

Minutes

Engaged


Attends TekNEXT 2020 and meets

with Sales Rep to discuss pricing

ON24 VIRTUAL ENVIRONMENT

TekExpo

Breakout Sessions

Survey

Peer

Networking

My Resources

Chat Room

My Meetings1

My Profile

Visits CloudTek Learning Hub and registers for

upcoming user conference, TekNEXT 2020






Get

Pricing

Minutes

Engaged

Resources

Downloaded

Sessions

Watched

Survey

Answers

Booths

Visited

16

PROSPECT ENGAGEMENT PROFILE

Paula PriceVice President,

Network Security

Metropolis


PLATFORM FOR AI/ML-DRIVEN PERSONALIZATION

✓ Demos Booked

✓ Meetings Booked

✓ Contact Requests

✓ Free Trials

✓ Price Requests

✓ Engagement

Score

✓ Polls Answered

✓ Surveys

Answered

✓ Questions Asked

✓ Resources Viewed

✓ Live Attended

✓ Live Minutes

✓ Group Chat

✓ Social Shares

✓ Colleague

Referrals

✓ Certification

ENGAGEMENT DATA

AI/MLENGINE

PERSONALIZED CONTENT RECOMMENDATIONS

SALES

PROSPECTS CONVERTED PROSPECTS


18 © 2021 ON24, Inc. | Confidential18 © 2021 ON24, Inc. | Confidential

ON24 CONNECT: LARGE ECOSYSTEM OF 3RD PARTY INTEGRATIONS

ON24 REST API

BUSINESS INTELLIGENCEENGAGEMENT DATA &

360° PROSPECT VIEWREAL-TIME

BUYING SIGNALS

FLEXIBLE AUDIENCE REGISTRATION

MARKETER SALES

REAL-TIME, DEEP INTEGRATIONS WITH

CRM & MARKETING AUTOMATION PLATFORMS


CRM &

Marketing

Automation

Platform

Customer

Experience

Management

Video

Conferencing &

Collaboration Tools

ON24 IS AT THE EPICENTER OF CUSTOMER ENGAGEMENT


US Market TAM = $22B

SMB

Mid-Market

Enterprise

International Markets

AverageSpendPotential

(2,000+ Employees)

(200-1,999 employees)

(50-199 employees)

~1x of US Market $44B

International TAM = $22B

As of June 30, 2021; Source: 2017 US Census data for number of potentially addressable companies within each of the Enterprise, Mid-market and SMB categories in the United

States. Includes Firms in Educational Services, Finance and Insurance, Health Care and Social Assistance, Information, Management of Companies and Enterprises, Manufacturing,

Other Services (except Public Administration), Professional, Scientific, and Technical Services, Real Estate and Rental and Leasing

MASSIVE GLOBAL TAM


In-Person Engagement Digital Engagement

PRE-COVID TODAY A HYBRID WORLD

EVOLUTION OF ENGAGEMENT


$67.2M

$114.2M

$164.1M

Q2'19 Q2'20 Q2'21

$35.5M

$52.1M

Q2'20 Q2'21

$68.8M $80.7M

$154.8M

2018 2019 2020

TOPLINE GROWTH

ARR1 Revenue1 - FY Revenue1 – Q2

44% 92% 47%

% YoY Growth

(1) Excludes Legacy Revenue.


CUSTOMER COUNT

Customer Count Over TimeCustomers Greater Than $100K in

ARR

149%Net Retention Rate

29% ARRin multiyear

agreements

2020 Metrics

17% to 30%Customers buying 2+

products as of Dec. 31,

2019, and Dec. 31, 2020,

respectively

1,314

1,769

2,078

Q2'19 Q2'20 Q2'21

124

229

345

Q2'19 Q2'20 Q2'21


GROSS MARGIN AND OPEX

Total Gross & Subscription Non-GAAP Gross Margin1 Non-GAAP OPEX as a % of Total Revenue1

1 Excludes stock-based compensation; revenue including legacy

70% 70%

79% 79%

78%79%

77%

83% 83%82%

2018 2019 2020 Q1'21 Q2'21

Gross Margin Subscription Gross Margin

56%

53%

38%

44%46%

17% 17%

12%14%

14%

15% 16%

13%15%

13%

2018 2019 2020 Q1'21 Q2'21

Sales & Marketing Research & Development

General & Administrative

APPENDIX


GAAP TO NON-GAAP GROSS PROFIT RECONCILIATION

Non-GAAP Gross Profit

($ in millions) 2018 2019 2020 Q1'21 Q2'21

GAAP Gross Profit $57.7 $62.0 $123.6 $39.4 $40.2

Stock-Based Compensation $0.1 $0.1 $0.2 $0.3 $0.4

Non-GAAP Gross Profit $57.8 $62.1 $123.8 $39.7 $40.7

Margin 70% 70% 79% 79% 78%


GAAP TO NON-GAAP SUBSCRIPTION GROSS PROFIT RECONCILIATION

Non-GAAP Subscription Gross Profit

($ in millions) 2018 2019 2020 Q1'21 Q2'21

Subscription Gross Profit $51.8 $55.9 $101.9 $35.4 $36.2

Stock-Based Compensation $0.1 $0.1 $0.2 $0.2 $0.3

Non-GAAP Subscription Gross Profit $51.9 $56.0 $102.0 $35.7 $36.5

Margin 79% 77% 83% 83% 82%


GAAP TO NON-GAAP OPERATING EXPENSE RECONCILIATION

Sales and Marketing Research and Development

General and Administrative

($ in millions) 2018 2019 2020 Q1'21 Q2'21

GAAP Sales and Marketing $47.0 $47.8 $60.6 $23.9 $25.5

Stock-based compensation $0.6 $0.9 $1.1 $1.7 $1.6

Non-GAAP Sales and Marketing $46.3 $46.9 $59.6 $22.2 $23.9

% of Total Revenue 56% 53% 38% 44% 46%

($ in millions) 2018 2019 2020 Q1'21 Q2'21

GAAP Research and Development $14.3 $15.7 $19.3 $7.9 $8.2


Non-GAAP Research and Development $14.1 $15.5 $18.9 $7.2 $7.3

% of Total Revenue 17% 17% 12% 14% 14%

($ in millions) 2018 2019 2020 Q1'21 Q2'21

GAAP General and Administrative $13.3 $14.6 $21.9 $9.8 $9.1


Non-GAAP General and Administrative $12.8 $13.9 $20.5 $7.6 $7.0

% of Total Revenue 15% 16% 13% 15% 13%

ON24 DIGITAL EXPERIENCE PLATFORM

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