Kahoot! ASA

Investor Presentation • Feb 17, 2022

Make learning awesome

Q4 2021 Presentation February 17 2022

Disclaimer

The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated ('relevant persons'). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. Information in the following presentation relating to the price at which relevant investments have been bought or sold in the past or the yield on such investments cannot be relied upon as a guide to the future performance of such investments.

This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Kahoot! ASA. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about, and observe, such restrictions.

This presentation contains statements regarding the future in connection with the Kahoot! Group's growth initiatives, outlook, strategies and objectives. All statements regarding the future are subject to inherent risks and uncertainties, and many factors can lead to actual profits and developments deviating substantially from what has been expressed or implied in such statements. The comments in the presentation are related to Kahoot!'s development in 2021 compared to the same quarter of 2020, unless otherwise stated.

Our mission is to make learning awesome

Our vision is to build the leading learning platform in the world

Making learning awesome

Motivated by its mission to make learning awesome, and powered by its global brand and viral platform, Kahoot! is optimally positioned at the intersection of learning and audience engagement needs across diverse demographics and user contexts, including education, business and the global creator economy

Q4 2021 market environment

Despite a market impacted by some disruption due to the Covid-19 Omicron variant at the end of Q4, we observed:

Global growth and application of digital learning tools continues to increase at pace, with digital adoption accelerating across industries

Solid viral growth of the Kahoot! platform, with an increasingly diverse portfolio of offerings for widening demographics

Further strong usage of Clever in the world's largest learning market, North America, signalling a robust, ongoing demand for digital learning solutions.

Global market trends

Company culture and employee

engagement gain increasingly vital importance as organizations contend with the realities of dispersed workforces and spikes in staff turnover.

Tertiary education is on the cusp of significant and delayed transformation, as the increasing necessity for lifelong learning grows in the face of an unrelenting demand for up/reskilling.

Gamification's unique potential for effective learning continues to gain traction both in the classroom and at home.

Global creator economy continues to diversify and evolve, continually seeking new tools and platforms to engage audiences and monetize content.

Kahoot! is uniquely positioned to capture a significant share of a fragmented global market

Kahoot! platform growth levers

Lead with engagement and distinct software solutions for learning with great user experience

Expand commercial offerings to drive even greater operating leverage

Continuously deliver innovative solutions

across user segments and geographies

Leverage and productify vast platform and ecosystem of users, partners and content

Solid free cash flow to support growth through organic initiatives and inorganic investments

Leveraging Kahoot!'s strong global engagement brand and platform to capture increasing investment in learning across all segments

New and existing customers are making learning awesome in Q4 2021

Highlights Q4 2021

Strong growth with \$39.7m invoiced revenue in Q4, up 126% YoY (vs reported)

Boosted commercialization reaching 1.1m paying subscriptions, up 64% YoY

All-time high adjusted cash flow from operations of \$13.4m representing 41% of operating revenue

Continued viral adoption of the core Kahoot! platform with 30.9m active accounts, up 25% YoY

Solid performance by Clever with \$12.8m invoiced revenue and positive cash contribution

Continued high Gross Margin of 92% for the Kahoot! Group

Expanding subscription offerings through Kahoot! Kids App, Kahoot!+ Study and Math Labs

Record high invoiced revenues from Kahoot! at Work reaching \$49m in 2021, over 80% YoY growth

Launched Kahoot+ AccessPass, first commercial service on Kahoot Academy Marketplace

2022 priorities

Continue to improve commercial efforts across group, while maintaining discipline on cost management, to secure sustainable, profitable growth

Deploy majority of group resources to continued innovation and development of our products and solutions, for all user groups and learning contexts

Finalize integration of Motimate and Actimo to unify Kahoot! platform offerings to at Work business customers, as well as developing customized branding for larger organizations

Further scale and develop Kahoot! Academy Marketplace and launch new commercial services to monetize content from premium partners and verified educators

Deliver against Clever-Kahoot! joint ambitions of '22 back-to-school season, as well as expansion of Clever offerings into first international markets, and leverage new commercial services to Clever network

Kahoot! Group financials Q4 2021

• Strong organic growth on the Kahoot! platform with 30.9m active accounts last twelve months, up 25% YoY
• Reached 1.1m paid subscriptions across all services, up 64% YoY, representing an organic increase from the third quarter of 95K, whereof 60K on the Kahoot! platform. Per the end of Q4, Kahoot! At Work reached 490K paid subscriptions, Kahoot! At School reached 365K paid subscriptions and Kahoot! At Home & Study reached 255K paid subscriptions
• Invoiced revenue (billings) reached \$39.7m in the fourth quarter, up 126% YoY, including Clever, which contributed \$12.8m in the quarter. Excluding Clever, invoiced revenue in the fourth quarter grew \$9.3m YoY to \$26.9m, up 53%. For the full year 2021 invoiced revenue grew \$61.9m YoY to \$107.2m (including \$18.5m from Clever for September-December), up 137%. Clever exceeded \$49m for the full year

25%

YoY growth LTM in active accounts - Kahoot! platform

64% YoY growth in paid subscriptions per Q4

126%

Q4 YoY growth in invoiced revenue

Kahoot! Group financials Q4 2021

• Total revenue and other operating income of \$33.0m, up 193% YoY. For the full year 2021 total revenue and other operating income grew \$61.9m YoY to \$91.3 million, up 211%
• ARR (Annual Recurring Revenue) of \$133m, up 122% YoY, whereof Clever contributed with approx. \$47m from its U.S. ecosystem partners
• Adjusted EBITDA (excluding share-based compensation expenses and related payroll taxes, acquisition related expenses and listing cost) of \$5.5m, up \$5.4m YoY. For the full year 2021 adjusted EBITDA grew \$18.6m YoY to \$19.3 m
• Cash flow from operations (excluding payment of listing and acquisition cost, and cash effects related to share-based compensation) of \$13.4m, up 92% YoY, with positive contribution from Clever, and \$31.3m for 2021, up 80% YoY
• Cash and cash equivalents as of 31 December 2021, totaled \$107.8m, the Group has no interest-bearing debt

193% Q4 YoY growth in total revenue

21% 2021 adjusted EBITDA margin

41%

Q4 cash flow margin from operations of operating revenue

Kahoot! Group accelerating momentum

Paid subscriptions 1)

\$39.7m Invoiced revenue Q4 2)

• Reached more than 1.1m paid subscriptions across all services by the end of 2021, up 64% YoY, representing an organic increase from Q3 2021 of 95K, whereof 60K on the Kahoot! platform
• At the end of 2021, Kahoot! At Work reached 490K paid subscriptions, Kahoot! At School reached 365K paid subscriptions and Kahoot! At Home & Study reached 255K paid subscriptions

1) Paid subscriptions is defined as total number of users on paid subscription per the end of the period, including new units from the time of acquisition 2) Conversion to paid subscriptions in all segments from customers in more than 150 countries, includes \$12.8m from Clever in Q4 2021

Kahoot! platform – continued growth

Continued organic user growth on the Kahoot! platform in 2021. 30.9 million active accounts, up 6 million YoY. 310 million hosted sessions, up 60 million YoY. Approx. 2.0 billion participants (non-unique) globally, up 500 million YoY and 172K YoY growth in core Kahoot! paid subscriptions.

1) Paid subscriptions is defined as total number of users on paid subscription on the core Kahoot! platform (not including acquired units) per the end of the period 2) Active accounts, hosted sessions and participating players (non-unique) on the Kahoot! platform last twelve months

Full year 2022 outlook

The Kahoot! Group reiterates the ambition to exceed \$190m in invoiced revenues for 2022, with recognized revenues exceeding \$155m and adjusted cash flow from operations of approx. 35% of recognized revenue

	Reported Q4 2021	Guidance Q1 2022	Reported FY 2021	Guidance FY 2022
Recognized revenue YoY growth	\$33.0m 193%	\$34-35m 110-116%	\$91.3m 211%	\$155-165m 70-81%
Invoiced revenue (billings) YoY growth	\$39.7m 126%	\$34-35m 78-83%	\$107.2m 137%	\$190-200m 77-87%
Gross margin 2)	92%		92%
Adjusted EBITDA margin 3)	17 %		21%
Capex	~\$0.5m	~\$0.5m	<\$1m	~\$2.0m
Adjusted cash flow from operations 3)	\$13.4m		\$31.3m	~\$55m

• The Kahoot! Group's annual revenue cycle is influenced by natural seasonality and market dynamics of key business areas, with the main driver being the back-toschool season for Kahoot! and for Clever in the second half of the year
• Expected invoiced revenue split of approx. 40/60 in H1 and H2, in line with previous years
• For the first quarter 2022, invoiced revenue is expected at \$34-35m, representing approx. 80% YoY growth, including effect of Clever seasonality1) and with solid cash flow from operations

1) Clever's invoicing seasonality in 2021 was approx ⅓ in the first half and ⅔ in the second half of the year. For 2022 the invoicing growth will be driven by the billing cycle for "back to school" season in the second half of the year

2) Gross margin only reflects direct third-party sales and distribution cost

3) Not including share-based payment expenses and related payroll taxes for the Group's share option program, and acquisition-related expenses and listing cost

Kahoot! Group strategic priorities

Create awesome experiences

Enable the creator economy

Scalable development

for every user, customer and partner across all our products and offerings

by connecting the Kahoot! ecosystem of partners, learners and educators through marketplace functionality

in all parts of the Kahoot! operating model

Strong organic growth across all customer groups and products fueled by the viral user growth on the Kahoot! platform

Kahoot! Group ambition 2022-2025

• The Kahoot! Group's ambition is to exceed \$500m in invoiced revenues in 2025, representing approx. 40% annual invoiced revenue growth, whereof approx. 1/3 from Kahoot! at Work, 1/3 from Kahoot! at School including Clever, and 1/3 from Kahoot! at Home & Study including Kahoot! Academy Marketplace
• The operational cost base2) is over the period expected to be converged to approx. 60% of invoiced revenue which indicates approx. 40% cash conversion of invoiced revenue in 2025
• Financial ambitions outlined does not depend on any material acquisitions in the period
• As previously communicated the Company is exploring the opportunity for a secondary listing. After concluding its initial assessment, the Company has decided that it will continue to explore preparations for a potential secondary listing in the U.S. The Company will update the market in line with applicable regulatory requirements

1) Reported invoiced revenue was \$107m and included invoiced revenue from Clever for the four-month period from September till December 2021

2) The operational cost base does not include depreciation and amortization, and is adjusted for special operating items. Special operating items are material expenses and other material transactions of either a non-recurring nature or special in nature compared to ordinary operational expenses and include adjustments for share based compensation expenses and related payroll taxes, acquisition-related expenses, and listing cost preparations.

Kahoot! Group investment highlights

Join the Kahoot! journey

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kahoot.com/school kahoot.com/study kahoot.com/work kahoot.com/investor kahoot.com/home

Stay up to date, visit kahoot.com/news

Stay tuned!

Kahoot! will host a virtual investor day in May 2022

Q4 Financials Appendix

Full Year 2021 status

	FY 2018	FY 2019	FY 2020	FY 2021
Invoiced revenue	\$3.5m	\$13m	\$45m	\$107m+
Paid subscriptions*	46K	170K	675K	1.1m

• For the full year 2021, the Kahoot! Group exceeded \$107 million in invoiced revenue up from \$45 million in 2020, with continued solid positive cash flow from operations, and reached 1.1 million paid subscriptions. The contribution from Clever included in the full year 2021 invoiced revenue was \$18.5 million for the four-month period from September till December 2021. Clever reached \$49 million in invoiced revenue for the full year 2021, representing more than 30% YoY growth
• For the fourth quarter 2021, the Kahoot Group invoiced revenue reached \$39.7 million with \$26.9 million from the Kahoot! Group (excluding Clever) and \$12.8 million from Clever, with continued solid positive cash flow from operations

*Including acquired units, except Clever

Key financial figures development

	Q4'21	Q3'21	Q2'21	Q1'21	Q4'20	Q3'20	Q2'20	Q1'20
Invoiced revenue	39.7	27.8	20.6	19.1	17.5	11.6	9.6	6.5
Invoiced revenue growth YoY	22.2	16.2	11.0	12.6	12.2	8.2	7.3	4.5
Invoiced revenue growth YoY %	126 %	139 %	114 %	195 %	230 %	241 %	317%	222 %
Invoiced revenue growth QoQ	11.9	7.2	1.5	1.6	5.9	2.0	3.1	1.1
Invoiced revenue growth QoQ %	35 %	35%	8%	9 %	50 %	21%	49 %	21%
ARR	133	124	75	69	60	32	25	18
Revenue and operating income	33.0	23.7	18.4	16.2	11.3	9.0	5.2	3.8
Cost of sales 1	2.6	1.3	1.7	1.3	1.3	1.4	0.7	0.4
Employee benefit expenses 2	13.9 °	8.7	6.5	6.2	5.7	3.2	2.5	2.9
Other operating expenses 3	11.1	7.6	6.1	5.0	4.1	2.3	2.3	1.9
Total operating cost	27.6	17.7	14.2	12.5	11.2	6.9	5.4	5.2
Adjusted EBITDA	5.5	6.0	4.2	3.7	0.1	2.2	$-0.3$	$-1.3$
Adjusted EBITDA margin	17%	25 %	23 %	23 %	1%	24 %	$-5%$	$-35%$
Net cash flow from operations 4	13.4	7.4	5.0	5.4	7.0	5.2	3.9	1.1
Cash flow from oper. in % of revenue	41 %	31%	27%	34 %	62 %	58 %	76 %	28 %
Cash and cash equivalents	108	206	440	254	256	73	73	34
Employee full time equivalents	422	415	244	204	182	127	128	120

Comments:

• Continued strong quarterly YoY invoiced revenue growth of more than 100% for the past eight consecutive quarters
• Recurring revenue business model growing ARR to \$133m by the end of 2021 whereof Clever contributed with \$47m
• Scalable business model with increased leverage; Infrastructure cost for both free and paid users included in existing cost base
• Continued YoY growth for adjusted EBITDA, which reached \$19.3m for the full year 2021
• Solid net cash flow from operations 4) of \$31.3m for 2021, up 80% YoY, representing 34% of operating revenue for the year

1) Cost of sales only include direct third-party sales and distribution cost

• 2) Not including calculated share-based payment expenses and related payroll taxes for the Group's share option program
• 3) Not including acquisition-related expenses and listing cost
• 4) Adjusted for cash outflow for acquisition and listing cost, and cash effects related to share based payment

Condensed profit and loss statement

	Q4 2021 4 Q4 2020 5		FY 2021 4	FY 2020 5
Total revenue and other operating income	33.0	11.3	91.3	29.3
Cost of sales 1	2.6	1.3	7.0	3.7
Employee benefit expenses 2	13.9	5.7	35.2	14.4
Other operating expenses 3	11.1	4.1	29.7	10.6
Total operating expenses	27.6	11.2	72.0	28.7
Adjusted EBITDA	5.5	0.1	19.3	0.7
Adjusted EBITDA margin	17%	1 %	21 %	2 %
Share based compensation expenses	3.7	2.0	10.4	3.1
Payroll tax share based compensation	(3.1)	9.4	(7.6)	14.2
Acquisition transaction and listing cost	0.3	1.0	6.6	1.0
Reported EBITDA	4.5	(12.2)	9.8	(17.6)

1) Cost of sales are direct third-party sales and distribution cost

2) Calculated share-based payment expenses and related payroll taxes for the Group's share option program are not included

• 3) Acquisition-related expenses and listing cost are not included
• 4) Includes Clever from 1 September 2021

5) Restated, ref. note 1 and 8 to the interim consolidated financial statements in the Q4 2021 report

Comments:

• Continued strong YoY revenue growth in Q4 of 193%, up \$21.7m to \$33.0m. Full year revenue growth YoY of 211%, up \$61.9m to \$91.3m
• Operational payroll and related benefit expenses ² were \$13.9m in Q4, up \$8.1m YoY impacted by consolidation effect of acquired companies
• Total operating expenses 2,3 of \$27.6m in Q4, up \$10.8m, and \$72.0m for 2021, up \$43.3m impacted by consolidation effect of acquired companies
• Adjusted EBITDA for Q4 of \$5.5m, up \$5.4m YoY, and \$19.3m for 2021, up \$18.6m YoY
• Reported EBITDA for Q4 of \$4.5m, up \$16.7m YoY, and \$9.8m for 2021, up \$27.4m YoY

Condensed balance sheet

	31.12.2021	31.12.2020 1
Goodwill	510.2	77.8
Intangible assets	173.3	34.4
Property, plant and equipment	0.6	0.4
Right-of-use assets	2.9	3.2
Total non-current assets	687.1	115.7
Trade receivables	11.8	3.2
Other current assets	5.3	3.2
Cash and cash equivalents	107.8	256.1
Total current assets	124.8	262.5
Total assets	811.9	378.2
Total equity	585.8	286.0
Lease liabilities	2.0	2.3
Deferred tax liability	46.3	5.8
Other non-current liabilities	43.1	15.4
Total non-current liabilities	91.4	23.6
Lease liabilities	1.0	1.0
Trade payables	5.4	1.8
Contract liabilities (deferred revenue)	60.8	30.7
Other current liabilities	67.6	35.1
Total current liabilities	134.7	68.6
Total equity and liabilities	811.9	378.2

Comments:

• Total assets increased in 2021 by \$433.7m to \$811.9m, primarily attributable to acquisitions
• Per year-end 2021, non-current assets were \$687.1m up from \$115.7 million due to goodwill and intangible assets from the acquisitions of Clever, Motimate and Whiteboard
• Total liabilities increased in 2021 by \$134.0m to \$226.1m, whereof deferred tax liability represents \$46.3m and contract liabilities (deferred revenue) \$60.8m. Deferred and contingent consideration for acquisitions amounts to \$95.1m (whereof \$42.8m are non-current) to be settled in combination of approx. 22% shares and 78% cash.
• The Group has no interest-bearing debt and equity ratio of 72% per 31 December 2021

1) Restated, ref. note 1 and 8 to the interim consolidated financial statements in the Q4 2021 report

Cash flow statement

FY 2021 FY 2020
17.4 23.7
(34.4) (367.7)
231.1 195.5
(148.5) 214.1
256.1 40.9
1.2 0.2
256.1 107.8
17.4 31.3

1) Adjusted for cash outflow related to share based payment, acquisition and listing cost,

Comments:

• Adjusted cash flow from operations for Q4 of \$13.4m, up 92% YoY, 2021 adjusted cash flow from operations of \$31.3m, up 80% YoY
• Cash flow from investing activities of -\$102.5m Q4 mainly due to payment for deferred consideration for the acquisition of Clever. For the full year 2021, cash flow from investing activities was-\$367.7 million which includes the acquisitions of Motimate, Whiteboard and Clever

Company overview

Viral growth

Free and paid subscription for individuals, teachers and students with premium offerings for schools and organizations

Community & Brand

Lifelong learning platform with global footprint in home, schools and corporations

User generated content

100 million kahoots created by users and premium content partners easily accessible

Innovation

Easy to use and engaging user experience for all use cases being continuously improved – live and on demand

Kahoot! making learning awesome

Engagement & Communication

Connect with every employee, strengthen company culture, and improve corporate learning outcomes in a hybrid workplace!

engagement

learning

engagement app

Interactive presentations & meetings

Training & development

at work

Engaging employees globally in the new world of work

Q4 Highlights

• ➔ Added 55,000 paid subscriptions reaching 490,000 this quarter
• ➔ Continued to empower employee learning, audience engagement and corporate culture with an increasingly multi-faceted suite of solutions due to the continued integration of Motimate and Actimo
• ➔ Kahoot!'s enterprise offering, Kahoot! 360 Spirit, saw the effect of its enhanced offerings including the newly launched Kahoot! Courses through significant uptake in subscriptions

Selected new and existing business customers making learning awesome in Q4 2021

10K educational institutions have already deployed multiuser Kahoot! teacher licenses

Over

Maximize student engagement by designing full class, interactive sessions

Elevate learning at your entire school or district

Making learning fun, engaging, and impactful at school!

at school

Bring math to life!

Online whiteboard tool

Equip IT admins with increased control, security & compliance

Choose the perfect game mode Play live or assign a challenge! courses

Embraced by over 9 million

teachers globally, engaging 100s of millions of students

Making learning fun, engaging and impactful at school at school

Q4 Highlights

• teachers and educators ➔ Added 30,000 paid subscriptions, reaching 365,000 this quarter
• ➔ Further evolved the offerings to the more than 9 million teachers (LTM), hundreds of millions of students and thousands of schools, campuses, universities and districts
• ➔ The Kahoot! EDU offering was extended with the features such as Team mode and the launch of Math Labs by DragonBox, well received by educators and students around the globe.

Selected new and existing schools, campuses, universities and districts making learning awesome in Q4 2021

10m+

are using Kahoot! at home with over 100 million games played by families

100 million games

A safe and fun learning experience for kids age 2-7

played by families

…with over

Just launched!

for the entire family Kids Teens Students Family & friends

Learn at home, with study peers or on the go

at home

Exploration sparks curiosity

Learn to read, learn math & algebra - apps

Premium subscription for awesome learning

Social study for higher-ed students

Language learning made easy.

Learning and fun for the entire family at home

Q4 Highlights

• teachers and educators ➔ Added 10,000 paid subscriptions, reaching 255,000 this quarter
• ➔ Expanded offerings through new commercial products customized for even more user segments
• ◆ The newly launched Kahoot! Kids app empowers parents with a fun, explorative and safe experience to spark curiosity in young learners preschool
• ◆ The new Kahoot!+ Study subscription supports higher ed students to leverage engagement in their study and exam preparation, connecting students with a range of new features and tools to make studying more impactful

Who says studying can't be fun? Social study for higher-ed students

Kahoot! Kids: Fun learning experience for kids age 2-7

A safe and customized user experience, with world class read aloud technology

Available in 13 languages, including simplified and traditional Chinese. Arabic launching soon!

Global learning unleashed!

The Kahoot! app and live game just launched in Arabic and Simplified and Traditional Chinese, in addition to the 11 languages already available: Japanese, Turkish, Polish, Dutch, English, Spanish, Portuguese (BR), French, Norwegian, German & Italian!

Go from zero to hero with the new Kahoot! Multiplication app by DragonBox

Purchase alone or as a part of the Kahoot! Family+ learning apps

Verified content creators

New!

First subscription for premium content on Marketplace

Marketplace Coming soon

Buy and sell ready-to-use, high quality learning content!

Enhanced learning experience with premium IP

Kahoot! Communities

Let's educators grow their own community to share knowledge

Knowledge portal

Premium learning content embraced by 40m+ monthly players

A global community and knowledge platform for content creators and learners

Premium content partners

Global community, knowledge platform and marketplace

Q4 Highlights

• teachers and educators ➔ Reached 40 million monthly participants of content created by verified educators and premium partners
• ➔ Took a major step in enriching its offering for creators and learners with the recent launch of the subscription service Kahoot!+ AccessPass. This represents the first commercial service on Kahoot!'s global digital marketplace, where verified creators and partners can monetize premium content
• ➔ Partnered with world-renowned brands for premium content creation, launching new partnership including Minecraft, The U.S Census Bureau and SEL with Microsoft

marketplace

Supporting passionate educators, creators, subject matter experts and publishing partners in commercialising premium learning content and connecting with millions in Kahoot!'s global learning community at school, at work and at home

: First premium content subscription service launched in Q4

Making a world of digital learning instantly available

Q4 Highlights

• ➔ Strong first half of the 21-22 school year, with over 60% of all U.S K-12 Schools using the single sign-on platform and more than 22 million monthly active students and 1.4 million monthly active teachers on the platform
• ➔ Reached more than 740 app partners on the platform, whereof 440 paying
• ➔ Clever remains focused on laying a robust foundation for growth and commercial added-value for its vast network, including the launch of the click-to-buy App Store and international expansion in 2022

Kahoot! main growth initiatives 2022

Complete offering for professional development and learning with organization-wide license plan

Elevated learning with complete site licenses for schools, districts and campuses

Premium subscription for the entire family, study-peers and friends

Leveraging global user base and partner ecosystem to offer commercial marketplace for verified content creators

The leading digital learning platform for U.S K-12, a community for students, families and educators

Kahoot!

Kahoot! started 2012 as a quiz-based game to ensure attention, create engagement and provide knowledge in classrooms

Global recognized brand with a viral distribution model based on scalable technology platform

User centric, data-driven and iterative approach to product development and innovation

Over 200m user generated Kahoots, 300m games played last 12 months with 2bn participating players

The Kahoot! journey

Development of cumulative nonunique players since launch

2013-18 2019 2020 2021

Launched September 2013

Top 3 tool in US education

Launched first commercial editions in 2018 with 40k paid subscriptions

75+ employees

New commercial subscription editions for all segments

subscriptions

Acquisition of Poio and DragonBox

120+ employees

More commercial offerings and over 550k paid subscriptions

Reaching 170k paid Launched first platform service

Acquisition of Actimo and Drops

200+ employees

6 Billion

7 Billion

More features and over 1.1M paid subscriptions

Available in over 11 languages

Acquisition of Whiteboard.fi, Motimate and Clever

500+ employees

www.kahoot.com/investor