Slide 1: Investor Briefing
Investor Briefing April 21, 2026
Slide 2: Disclaimer
Disclaimer GENERAL This presentation is property of Docebo Inc. (the “Company”, “Docebo”, “us” or “we”). It cannot be circulated or forwarded without our consent. Any graphs, tables or other information demonstrating our historical performance or that of any other entity contained in this presentati
Slide 3: Agenda
Agenda 01 CEO overview and corporate strategy Alessio Artuffo, Chief Executive Officer 02 Product demo Scott Peacock, Senior Vice President - Product 04 Financial overview Brandon Farber, Chief Financial Officer 05 Q&A
Slide 4: CEO overview
Alessio Artuffo CEO overview
Slide 5: History of SaaS
History of SaaS On-Prem Era SaaS Era Agentic Era (90s/early 2000’s) (mid-2000’s/early 2020’s) (2024+) Data + Workflow wins. Every time.
Slide 6: What We’re Building
What We’re Building Model Context Protocol AgentHub Enterprise Knowledge (MCP) Server 20+ 8x 3x External increase in Copilot adoption Connections Harmony search nearly tripled
Slide 7: Category Expansion: the closed loop
Category Expansion: the closed loop Docebo: the only closed-loop learning, knowledge, and skills platform LEGACY LMSs KNOWLEDGE LEARNING KNOWLEDGE (Cornerstone, SuccessFactors, Oracle) Learning only • Compliance check PLATFORMS (Enterprise Search, Wikis, AI Copilots) Powerful • Disconnected CLOSED-L
Slide 8: The Data Moat: AI without data is a demo
The Data Moat: AI without data is a demo Compliance Skills Learning External Records Graph History Training Data Legally mandated. The canonical map of Millions of learners. Data. Customers, Auditable. Can't be workforce capability. Years of data. Can't be partners, franchisees. hallucinated. Powere
Slide 9: Knowledge retrieval vs. Workforce readiness
Knowledge Workforce retrieval readiness Makes sure you don’t Finds the answer need to ask it again Indexes what exists Creates what doesn’t Proves the employee Surfaces the policy was trained on it Knowledge is not learning. Retrieval is not capability.
Slide 10: Docebo Workforce Readiness Platform
Docebo Workforce Readiness Platform Docebo AI AgentHub MCP Enterprise Knowledge Skills Intelligence Learn Roleplay Talent Marketplace eCommerce Text Career Developer Content Marketplace Voice Gap Analysis …and 20+ SKUS Video Evidence Engine The connective tissue & unified data layer
Slide 11: Product demo
Scott Peacock Product demo INSPIRE26
Slide 12: Improved core
Improved core Admin M o C ompanion en u & Navig sts D o ceb ation Interactive Podca Ru le Engine Lesson Narrator AI Tutor Enrollment Brand/Experience Studio AI Roleplay ILT Improvements lace Creator Games Content Marketp Training eCommerce Upgrades Credits Multicurrency Evaluation Hub ements Analyti
Slide 13: Docebo Companion
Docebo Companion The browser extension that turns the entire web into your learning platform.
Slide 14: Enrollment Rules Engine
Enrollment Rules Engine ● A single, scaleable engine ● Powerful automation, reporting, and governance management
Slide 15: AI Roleplay
AI Roleplay Set your own criteria with custom rubrics, so you can evaluate the skills that matter most to your business Human-in-the-loop reviews to validate learning as it happens
Slide 16: Content Marketplace
Content Marketplace A unified catalog for all libraries with standardized metadata and tracking Massively expanded catalog of content partners for more options natively in Docebo
Slide 17: The future of workforce readiness
The future of workforce readiness An agentic system where the learner profile gets richer, the intelligence gets sharper, and the path to readiness gets shorter, every cycle. ● Detects real skill needs ● Activates the right response ● Validates whether capability actually changed
Slide 18: AgentHub
AgentHub Build custom agents that do real work: Connected to your tech stack Knows your people, content, & skills Choose level of autonomy Fully configurable with no code
Slide 19: Financial overview
Brandon Farber Financial overview
Slide 20: Expanding our addressable market
Expanding our addressable market ~$40B $30.0B Corporate Learning $3.0B US Government (FED + SLED) $25B $7.0B Skills Intelligence 2023 TAM 2026 TAM Source: Docebo Analysis. Company and industry research, government data and publications.
Slide 21: Expanded GTM
Expanded GTM Mid Market EMEA Enterprise SMB Government Mid-Market Skills EMEA 2021 2026 Source: Docebo Analysis. Company and industry research, government data and publications.
Slide 22: ARR deceleration to re-acceleration
ARR and Year-over-Year Growth1 USD in Millions ARR deceleration to re-acceleration 19% Total ARR 2021 - 2025 CAGR Preliminary 1 The ARR estimate for the three months ended March 31, 2026 is preliminary and inherently uncertain due to a number of factors. ARR is also a Non-IFRS measure. See the discl
Slide 23: Moving upmarket
Moving +3X +9pt Enterprise Higher 3-Year Avg. customer count NDRR for $100K+ vs. upmarket increase <$50K Customers Customers with ARR < $50K Customers with ARR > $100K
Slide 24: Disciplined Execution Driving Margin Expansion
Adjusted EBITDA and margin %1 Disciplined USD in Millions Execution Driving Margin Expansion 20.5% 2026E Adjusted EBITDA Margins ≈ Guidance 1 The Adjusted EBITDA guidance for the fiscal year ended December 31, 2026 is forward-looking. Adjusted EBITDA is a Non-IFRS Measure. See "Non-IFRS Measures and
Slide 25: Disciplined dilution—by design
Disciplined dilution—by design Stock based compensation expense Total shares outstanding as a percent of revenue (USD in millions) Preliminary Preliminary
Slide 26: Ahead of plan. Raising the bar.
Ahead of plan. Raising the bar. Guidance FY26 Guidance Revised FY26 Guidance Metric as of February 27, 2026 as of April 21, 2026 Revenue Guidance $267.5M — $269.5M $271.0M — $273.0M Range1 Adjusted EBITDA $52.5M — $54.5M $54.5M — $56.5M Guidance Range 1 The Revenue guidance for the fiscal year ended
Slide 27: Target Operating Model
Target Operating Model1 Drive continued double digit revenue growth through subscription Revenues improved new customer adds and net retention 10%-15% revenue growth Research and Organic innovation accelerating leading to Development broadening product and module portfolio 15-17% of revenue General
Slide 28: OY | = «NY y S _ oo = — _} q q a.
OY | = «NY y S _ oo = — 7 _} q q a.
Slide 29: Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures
Appendix: Non-IFRS Measures and Reconciliation of Non-IFRS Measures Key Performance Indicators Annual Recurring Revenue: We define Annual Recurring Revenue as the annualized equivalent value of the subscription revenue of all existing contracts (including Original Equipment Manufacturer (“OEM”) cont
Slide 30: Grazie!
Grazie! INSPIRE?