Slide 1: Financial Results Q1 2026 Supplemental Information
Progress Financial Results Q1 2026 Supplemental Information March 30, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Progress has identified some of these forward-lookin
Slide 3: Conference Call Details
Conference Call Details What: Progress Fiscal Q1 ’26 Financial Results When: Monday, March 30, 2026 Time: 5:00 p.m. ET Register for the Live Call: Use this this link. Access the Webcast: here. Please note: Webcast is listen-only. © 2026 Progress Software Corporation and/or its subsidiaries or affili
Slide 4: Summary Highlights Q1 2026
Summary Highlights Q1 2026 Rev Growth 4%, Exceptional Margins and Cash Flow Debt Paydown and Buybacks Continue • Revenues of $248M vs. prior guidance of $244M - $250M, up 4% year-over-year as reported, or 2% in constant currency • ARR: $863M, up 2% year-over-year • NRR: 99% • Operating margin: 41% •
Slide 5: Annualized Recurring Revenue Trend (Pro Forma)
Annualized Recurring Revenue Trend (Pro Forma) ARR growth of 2% year-over-year ShareFile included in all periods Consistent Annual Growth All periods reported in constant currency, using current year budgeted exchange rates Net Retention % - TTM 102% 101% 100% 100% 100% 99% 100% 99% 99% © 2026 Progr
Slide 6: Total Growth Strategy
Total Growth Strategy Invest & Innovate Invest in our products and incorporate the latest technologies and capabilities to sustain relevance well into the future. Acquire & Integrate Disciplined M&A: pay a reasonable multiple for high-quality technology with strong recurring revenue; integrate quick
Slide 7: Total Growth Strategy: Driving ARR Growth
Total Growth Strategy: Driving ARR Growth ARR CAGR of 15% Q1 2021 – Q1 2026 All periods reported in constant currency, using current year budgeted exchange rates Excludes ARR values from acquisitions prior to purchase date © 2026 Progress Software Corporation and/or its subsidiaries or affiliates. A
Slide 8: Total Growth Strategy: Driving Revenue Growth
Total Growth Strategy: Driving Revenue Growth Revenue CAGR of 13% 2022 – 2026(E)* * Represents the mid-point of our FY’26 guidance range © 2026 Progress Software Corporation and/or its subsidiaries or affiliates. All rights reserved. 8
Slide 9: Total Growth Strategy: Growing Profitability
Total Growth Strategy: Growing Profitability Operating Income CAGR of 13% 2022 – 2026(E)* Best-in-class non-GAAP operating margins consistently above 35% * Represents the mid-point of our FY’26 guidance range © 2026 Progress Software Corporation and/or its subsidiaries or affiliates. All rights rese
Slide 10: Total Growth Strategy: Growing Unlevered Free Cash Flow
Total Growth Strategy: Growing Unlevered Free Cash Flow Unlevered FCF CAGR of 12% 2022 – 2026(E)* * Represents the mid-point of our FY’26 guidance range © 2026 Progress Software Corporation and/or its subsidiaries or affiliates. All rights reserved. 10
Slide 11: Capital Allocation Strategy
Capital Allocation Strategy PRIMARY Continue to prioritize accretive M&A opportunities that meet our disciplined FOCUS criteria to create the strongest returns. Use our significant free cash flow to aggressively pay down debt and reload for the next acquisition. • $60M repaid in Q1 ’26 • Currently m
Slide 12: Well Defined M&A Framework
Well Defined M&A Framework End Market ▪ Cast a wide net across infrastructure software Alignment for AI-resilient businesses ▪ Tight alignment increases synergy potential Appropriate ▪ ~10-25% of current Progress revenues Sizing ▪ Can be financed and integrated efficiently Financial ▪ High recurring
Slide 13: Summary Q1 2026 Financial Results
Summary Q1 2026 Financial Results Q1 2026 Results Prior Q1 2026 Outlook (provided on January 20, 2026) Revenue $248M $244M - $250M GAAP earnings per share (Diluted) $0.53 $0.47 - $0.53 Non-GAAP earnings per share (Diluted) $1.60 $1.56 - $1.62 GAAP Operating Margin 19% Not guided Non-GAAP Operating M
Slide 14: Business Outlook (as of March 30, 2026)
Business Outlook (as of March 30, 2026) Q2 2026 FY 2026 FY 2026 Current Outlook Prior Outlook Updated Outlook (provided on January 20, 2026) Revenue $240M - $246M $986M - $1B $988M - $1B GAAP EPS $0.35 - $0.41 $1.74 - $1.91 $1.71 - $1.87 Non-GAAP EPS $1.47 - $1.53 $5.82 - $5.96 $5.91 - $6.03 GAAP Op
Slide 15: Outstanding Debt and Potential Impact on Share Count
Outstanding Debt and Potential Impact on Share Count Convertible # 1 Convertible # 2 Revolver (as of 2/28/26) Balance: $360M Balance: $450M Balance: $540M drawn out of $1.5B Interest Rate: 1.00% Interest Rate: 3.50% Interest Rate: 1.25% to 2.5% above benchmark Conversion Price: $57.30 Conversion Pri
Slide 16: Supplemental Financial Information
Supplemental Financial Information
Slide 17: ARR Exchange Rate Comparison – 2025 by Quarter
ARR Exchange Rate Comparison – 2025 by Quarter* ARR is presented in constant currency, using our current year budgeted exchange rates “ARR at FY25 Rates” represents results reported translated using our FY25 budgeted exchange rates “ARR at FY26 Rates” represents those same results translated using o
Slide 18: ARR Exchange Rate Comparison – 2022-2025
ARR Exchange Rate Comparison – 2022-2025 ARR is presented in constant currency, using our current year budgeted exchange rates “ARR at FY25 Rates” represents results reported translated using our FY25 budgeted exchange rates “ARR at FY26 Rates” represents those same results translated using our FY26
Slide 19: Supplemental Revenue Information (Unaudited)
Supplemental Revenue Information (Unaudited) © 2026 Progress Software Corporation and/or its subsidiaries or affiliates. All rights reserved. 19
Slide 20: Important Information Regarding Non-GAAP Financial Information
Important Information Regarding Non-GAAP Financial Information Progress furnishes certain non-GAAP supplemental information to our financial results. We use such non-GAAP financial measures to evaluate our period-over-period operating performance because our management team believes that excluding t
Slide 21: Important Information Regarding Non-GAAP Financial Information
Important Information Regarding Non-GAAP Financial Information • Provision for income taxes - We adjust our income tax provision by excluding the tax impact of the non-GAAP adjustments discussed above. • Constant currency - Revenue from our international operations has historically represented a sub
Slide 22: Important Information Regarding Non-GAAP Financial Information
Important Information Regarding Non-GAAP Financial Information • ARR continued - ARR is not defined in GAAP and is not derived from a GAAP measure. Rather, ARR generally aligns to billings (as opposed to GAAP revenue which aligns to the transfer of control of each performance obligation). ARR does n
Slide 23: D Progress’
D Progress’