Investor
Presentation
February 28, 2024

Disclaimers
Forward Looking Statements
This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, andfurther include, without limitation, statements reﬂecting the current views of TaskUs, Inc. (“TaskUs” or the “Company”) with respect to, among other things, our operations, our ﬁnancial performance, our industry, theimpact of the current macroeconomic environment on our business, and other non-historical statements including the statements in the “Financial Outlook” section of this presentation. In some cases, you can identify
these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,”“anticipates,” “position us” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.
Accordingly, there are or will be important factors that could cause actual outcomes or results to diﬀer materially from those indicated in these statements. These factors include but are not limited to: the dependence ofour business on key clients; the risk of loss of business or non-payment from clients; our failure to cost-eﬀectively acquire and retain new clients; the risk that we may provide inadequate service or cause disruptions in ourclients’ businesses or fail to comply with the quality standards required by our clients under our agreements; utilization of artiﬁcial intelligence by our clients or our failure to incorporate artiﬁcial intelligence into ouroperations; our inability to anticipate clients’ needs by adapting to market and technology trends; unauthorized or improper disclosure of personal or other sensitive information, or security breaches and incidents;
negative publicity or liability or diﬃculty recruiting and retaining employees; our failure to detect and deter criminal or fraudulent activities or other misconduct by our employees or third parties; global economic andpolitical conditions, especially in the social media and meal delivery and transport industries from which we generate signiﬁcant revenue; the dependence of our business on our international operations, particularly in thePhilippines and India; our failure to comply with applicable data privacy and security laws and regulations; ﬂuctuations against the US dollar in the local currencies in the countries in which we operate; our inability tomaintain and enhance our brand; competitive pricing pressure; unfavorable or uncertain economic and political conditions; our dependence on senior management and key employees; increases in employee expenses
and changes to labor laws; failure to attract, hire, train and retain a suﬃcient number of skilled employees to support operations; our inability to eﬀectively expand our operations into countries or industries in which wehave no prior operating experience and in which we may be subject to increased business, economic and regulatory risks; reliance on owned and third-party technology and computer systems; failure to maintain asset
utilization levels, price appropriately and control costs; the control of aﬃliates of Blackstone Inc. and our Co-Founders over us; and the dual class structure of our common stock. Additional risks and uncertainties include
but are not limited to those described under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”), ﬁled with the Securities and Exchange
Commission (the “SEC”) on March 6, 2023, as such factors may be updated from time to time in our periodic ﬁlings with the SEC, including the Company’s Annual Report on Form 10-K for the ﬁscal year ended
December 31, 2023, which is expected to be ﬁled no later than the applicable SEC deadline, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should
be read in conjunction with the other cautionary ﬁlings with the SEC, which are or will be accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in
conjunction with other cautionary statements that are included in the Company's SEC ﬁlings. TaskUs undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as required by law.
Non-GAAP Measures
This presentation includes certain ﬁnancial measures not presented in accordance with United States generally accepted accounting principles (“GAAP”), including Adjusted Net Income and Adjusted Net Income Margin,
Adjusted Earnings Per Share, EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin, Free Cash Flow (excluding payment for earn-out consideration) and Conversion of Adjusted EBITDA (excluding payment for earn-out
consideration). Management believes these measures help illustrate underlying trends in TaskUs’ business and uses the measures to establish budgets and operational goals, communicate internally and externally, andmanage TaskUs’ business and evaluate its performance. Management also believes these measures help investors compare TaskUs’ operating performance with its results in prior periods. TaskUs anticipates that it willcontinue to report both GAAP and certain non-GAAP ﬁnancial measures in its ﬁnancial results, including non-GAAP results that exclude the impact of certain costs, losses and gains that are required to be included in our
proﬁt and loss measures under GAAP. Because TaskUs’ reported non-GAAP ﬁnancial measures are not calculated in accordance with GAAP, these measures are not comparable to GAAP and may not be comparable tosimilarly described non-GAAP measures reported by other companies within TaskUs’ industry. Consequently TaskUs’ non-GAAP ﬁnancial measures should not be evaluated in isolation or supplant comparable GAAP
measures, but rather, should be considered together with the information in TaskUs’ consolidated ﬁnancial statements, which are prepared in accordance with GAAP. Deﬁnitions of non-GAAP ﬁnancial measures and thereconciliations to the most directly comparable measures in accordance with GAAP are provided in subsequent sections of this presentation narrative.
Because GAAP ﬁnancial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable eﬀort, we have not provided reconciliations for forward-looking
non-GAAP measures, other than Free Cash Flow (excluding payment for earn-out consideration). For the same reasons, we are unable to address the probable signiﬁcance of the unavailable information, which could bematerial to future results.

Investor Presentation | 2

Our Vision

Outsourcing
reimaginedfor theinnovationage

Our Solutions

Our Results

3.8%

Digital Customer
Experience

2023 YoY
Revenue Decline

2.6%$924mm2023 Revenue

Headcount Decline(2023)

Trust + Safety$221mm2023 Adj
EBITDA1

AI Services

23.9%
Adj. EBITDA Margin(2023)1

56%

Total Client Win Rate
1

See appendix for reconciliation to most comparable GAAP measure

Investor Presentation | 3

Continued Proﬁtable Performance in Q4 2023
Quarterly Revenue / YoY Growth
$242M

$235M

$229M

$226M

Client & Growth Highlights

Q4 Key Client Wins

$234M

25.2%

%

7%

(2)%

(7)%

(3)%

(3)%

Q4
2022

Q1

Q2

Q3

Q4

Q4 Adj EBITDA1
Margin2023- DCX contracts with 1) a large credit union providing
U.S.-based support and 2) a European-based ﬁnancial
services client leveraging our heloo acquisition capabilities- Trust + Safety (incl. Risk + Response) contracts in On
Demand Travel & Transportation, FinTech, and Social Media- Combined DCX and Risk + Response contract with aconsumer credit building and ﬁnancial education solutions
providerOther Highlights
Focused &EngagedTeam~48,200+2.6%

Headcount asof December 31, 2023

Versus Prior Quarter- Beat Revenue, Adj. EBITDA, and Free Cash Flow
Guidance- Finished 2023 with 47 new clients, most since 2018
- In Q1 2024 we announced AssistAI, our knowledge
assist technology based on the TaskGPT platform- Named a Leader in Everest Group's Financial Crime &Compliance Operations Services PEAK Matrix

1

See appendix for reconciliation to most comparable GAAP measure- Q4 Revenue in Latin America grew 78% YoY
Investor Presentation | 4

Expanding Our Global Footprint
28 sites and a fully-functional, scaled work at home solution across 12 countries
Croatia - 2 Sites

Greece - 1 Site

as of December 31, 2023

India - 5 Sites

Ireland - WFH

Taiwan - 1 Site

Our Headcount~48,200

Serbia - WFH

USA - 4 Sites
Japan -WFH
Mexico - 1 Site
Philippines - 10 Sites
Colombia - 2 Sites

Work@Home

Malaysia - 2 Sites

Investor Presentation | 5

Service Oﬀerings

Digital Oﬀerings Powered by Diﬀerentiated Technology Solutions

DigitalCustomer Experience

Trust + Safety

AI Services

66%

20%

14%

Note: Percentages based on contribution to year end December 2023 revenue

Investor Presentation | 7

SOLUTIONS:

Digital Customer Experience
Ever-increasing user expectations and competition necessitate worldclass customer care. Founded on innovation and a people-ﬁrst culture,
TaskUs delivers excellent CX support consistently for the world’s
leading brands. The digital nature of the support we provide allows us
to automate a greater portion of these interactions using proprietary
tools like TaskGPT, support multiple interactions concurrently, and use
teammates based in higher margin, oﬀshore markets.

Omni-Channel Care

Sales & Customer Acquisition

Learning Experience Services

Technical Support

New Product or Market Launches

Consulting Services

27%
Omni-Channel

2023 Revenue:$606mm

66%

17%

56%
Non-Voice

Voice

Note: Percentages based on 2023 DCX revenue

Investor Presentation | 8

Trust + Safety
Content Moderation

Risk + Response

User generated content is growing at an exponential rate. Wherever content
is created by users, platforms must review and enforce policy guidelines toprotect their communities. Today, TaskUs teammates review content posted
by users and advertisers across these social networks as well as dating
apps, job sites, and marketplaces.

TaskUs solves for two growing problems faced by tech disruptors: thereputational risks posed by new forms of online fraud and ﬁnancial crime andthe cost of complying with increasing regulatory complexity. TaskUs Risk +Response provides digital identity veriﬁcation, ﬁncrime compliance, andanti-fraud solutions to help businesses overcome these challenges.

Policy Development

Tools & Innovation

Resiliency Studio

Digital Identity

FinCrime Compliance2023 Revenue:$187mm20%

Investor Presentation | 9Fighting Fraud

Autonomous Vehicles

AI Services
In our AI Services service line, our teammates collect, annotate, and evaluate
data to create the raw materials that artiﬁcial intelligence solutions, such aslarge language models and multi-modal generative AI, are built on. Nearly
every AI application being built today requires these human-in-the-loop
services that we oﬀer through our professional annotators and gig workers
from our TaskVerse platform. We also provide expert response writing, ranking
and scoring, prompt review, and adversarial testing for our GenAI clients. We
leverage technology, automation, and advanced instructional design and QA
processes to optimize results for our clients.

Optical Character
Recognition
Compliance Tracking

Generative AI

2023 Revenue:$132mm14%
Object Identiﬁcation& Classiﬁcation
Investor Presentation | 10

Speech to Text &Contextual
Annotation

Why We Win +Growth Strategies

Why We Win

Expertise

CultureSpeed

We specialize in the uniqueinnovative industry segmentsof our clients. We build teams ofexperts, processes, and tools
for each segment.

We have built a culture that feels
much more like our tech clients
than the service providers wecompete with.

We are agile, ﬂexible, andresponsive. Our clients are
growing exponentially. We
understand “speed matters.”

Investor Presentation | 12

Expertise: Focused on The World's Most Innovative Companies
TARGET MARKETSCLIENT HIGHLIGHTS● ~200 clients globally● #1 audio and #1 video streaming

Social Media

Retail +E-commerceEntertainment +GamingStreaming
Media

service providers● 4 of the Magniﬁcent 7 Tech Stocks● 15+ HealthTech & Healthcare$
On Demand
Travel +Transportation

Autonomous
VehiclesTechnology&
Generative AI

FinTech&Banking, Financial
Services &Insurance

clients

HealthTech&
Healthcare● 30+ FinTech & BFSI clients

Note: Client highlights as of Year End 2023

Investor Presentation | 13

Focused Growth Levers for 2024

1
2
3
4

Take Share From Competitors to Grow Big Tech and Enterprise Clients
Expand with new and existing large global tech and enterprise clients. We continue to see meaningful opportunities
where we are under-penetrated from a wallet-share perspective and from recent industry consolidation as clientslook to diversify their vendor networks.

Leverage our Industry Expertise to Cross-Sell our Specialized Services
Take advantage of the signiﬁcant opportunities where we are perfectly positioned via our specialized service
oﬀerings. Opportunities in areas such as Healthtech and the Generative AI space are particularly exciting.

Diversify our Client Base and Industry Verticals
Expand our client base by landing enterprise clients in areas like Banking & Financial Services and Healthcare tocreate a stable ballast of revenues, while maintaining our leadership in servicing high-growth technology clients.

Lead the Industry in Deployment of Generative AI Tools
We believe the future of this industry requires us to deliver an integrated solution of well-trained teammates andtechnologies to solve client challenges. With the launch of TaskGPT and the availability of AssistAI to all clients, weare making strong progress towards this vision.
Investor Presentation | 14

Strong Track Record of Sales Wins Across New and Existing Clients
Total Win Rate ($ basis) as %1> $10M Clients2

New Clients Won (#)

21
60%

47

62%

17

60%

41
57%
56%

55%

16

40

36

50%

8
45%

40%

2020

1)
2)

2021

2022

2023

2020

2021

2022

2023

2020

2021

Total Win Rate included opportunities from both New and Existing Clients
Based on revenue contribution

Investor Presentation | 15

2022

2023

Financial Performance

Specialized Services Revenue Proﬁle
Revenue by Service Line (%)

$960

$960

$924

AI Services
14%

10%
16%

United States$761

Philippines

$761

11%

7%

19%

14%

$924

Rest of World
India

15%

Trust and Safety
Digital Customer Experience

Revenue by Delivery Geography (%)

USD Million

20%

13%

8%
26%

16%

22%

$478

$478

32%

5%
3%

10%
27%

36%
66%

66%
53%

64%

53%

63%

2020

55%

56%

2021

2022

2023

2020

2021

2022

Note: Numbers may not sum to 100% due to rounding

Investor Presentation | 172023

USD Million

Attractive Proﬁtability and Margin ProﬁleAdjusted EBITDA1
24.7%
Margin (%)

22.4%

23.2%

$223

USD Million

Adjusted Net Income1
23.9%

17.0%

$221
Margin (%)

14.5%

14.9%

$188

13.7%

$143
$129

$127

$107
$69

Adjusted
Net
Income1

Adjusted
EBITDA1

2020
1

2021

2022

2023

2020

2021

2022

See Appendix for reconciliation to most comparable GAAP measure

Investor Presentation | 182023

Financial Highlights

FY 2022

FY 2023

Increasingly diversiﬁed revenue base

$960mm$924mmConsistent track record of proﬁtability

Revenue

RevenueSigniﬁcant operating leverage

26.3%

Revenue Growth YoY

23.2%

Adj.EBITDA Margin1
1(3.8)%

Revenue Decline YoY

23.9%

Adj. EBITDA Margin1

Strong free cash ﬂow
Low leverage on balance sheet
Capital returns to shareholders via
repurchases

See appendix for reconciliation to most comparable GAAP measure

Investor Presentation | 19

Our 2024 Outlook
2021 Outlook 1
2024 Outlook(in $ millions)First Quarter

Full Year$222.5 to $224.5$900 to $950

Revenue change (YoY) at midpoint(5.0)%

0.1%

Adjusted EBITDA Margin~22%

22% to 23%

Free Cash Flow

N/A

$120 to $130

Revenue

1

Financial outlook provided as of February 28, 2024 as part of TaskUs’ Q4 2023 earnings call. With respect to the non-GAAP Adjusted EBITDA margin outlook provided above, a reconciliation to the closest GAAP ﬁnancial measure has not been provided
as the quantiﬁcation of certain items included in the calculation of GAAP net income cannot be calculated or predicted at this time without unreasonable eﬀorts. Net cash provided by operating activities for the full year 2024 is expected to beapproximately $157 million and purchase of property and equipment is expected to be approximately $32 million.

Investor Presentation | 20

Outsourcing reimaginedfor the innovation age.

Investor Presentation | 21

Appendix

Non-GAAP Reconciliations
Adjusted EBITDA

Net income
Provision for income taxes
Financing expenses
Depreciation
Amortization of intangible assets
EBITDA
Transaction costs
Earn-out consideration
Foreign currency losses (gains)
Loss on disposal of assets
Severance costs
Stock-based compensation expense
Interest income
Adjusted EBITDA
Net Income Margin
Adjusted EBITDA Margin

USD Thousand

Three months ended
December 31,

Year ended December 31,

2023

2022

2023

2022

$16,277
11,417
5,576
10,8895,070$49,229
(885)
550
224
10,454(556)$59,016
6.9%
25.2%$15,742
11,840
4,256
9,929
5,117
$46,884365
4,753(8,400)49
14,292$57,943
6.5%
23.9%$45,690
29,342
21,71740,391
20,346$157,486
245
7,863
431
1,322
1,852
53,179(1,581)$220,797
4.9%
23.9%

$40,422
24,111
11,921
37,91519,882$134,251
953
9,729
7,967
31
821
69,452$223,204
4.2%
23.2%

Investor Presentation | 23

Non-GAAP Reconciliations
Adjusted Net Income
Three months ended MarchUSD Thousand

Three months ended
December 31,
2023
2022

Year ended December 31,
2023

2022

Net income$16,277$15,742$45,690$40,422

Amortization of intangible assets

5,070

5,117

20,346

19,882

Transaction costs

-

365

245

953

Earn-out consideration

-

4,753

7,863

9,729

Foreign currency losses (gains)(885)(8,400)

431

7,967

Loss on disposal of assets

550

49

1,322

31

Severance costs

224

-

1,852

821

Stock-based compensation expense

10,454

14,292

53,17969,452

Tax impacts of adjustments

558

1,385

(4,386)(6,442)Adjusted Net Income$32,248$33,303$126,542$142,815

Net Income Margin

6.9%

6.5%

4.9%

4.2%

Adjusted Net Income Margin

13.8%

13.7%

13.7%

14.9%

Investor Presentation | 24

Non-GAAP Reconciliations
Adjusted earnings per share
Three months ended
December 31,
2022
2023

Year ended December 31,
2023

2022

GAAP diluted EPS$ 0.18$ 0.16$ 0.48$ 0.39Per share adjustments to net income

0.17

0.17

0.84

1.00

Adjusted EPS$ 0.35$ 0.33$ 1.32$ 1.3991,504,594

101,193,087

96,173,071

102,603,179

Weighted-average common stock outstanding - Diluted

Investor Presentation | 25

Non-GAAP Reconciliations
Free Cash Flow
USD Thousand

Three months ended
December 31,
2022
2023

Year ended December 31,
2023

2022

Adjusted EBITDA$59,016$57,943$220,797$223,204

Net cash provided by operating activities$39,775$32,631$143,670$147,095

Purchase of property and equipment(8,091)(7,748)(30,995)(43,758)

Free Cash Flow

$ 31,684$ 24,883$ 112,675$103,337--

18,341-

Free Cash Flow (excluding payment forearn-out consideration)$ 31,684$ 24,883$ 131,016$103,337

Conversion of Adjusted EBITDA

53.7%

42.9%

51.0%

46.3%

Conversion of Adjusted EBITDA (excluding
payment for earn-out consideration)

53.7%

42.9%

59.3%

46.3%

Payment for earn-out consideration

Investor Presentation | 26

USD Million

Year ended December 31,

Reconciliationsof Adjusted
EBITDA

2020

2021

Net Income (loss)$34.5$(58.7)

Provision for (beneﬁt from) income taxes

9.9

(2.3)

Financing expenses

7.5

6.5

Depreciation

20.2

29.0

Amortization of intangible assets

18.8

18.8

EBITDA$90.9$(6.6)

Oﬀering costs

0.9

7.0

Foreign currency (gains) losses

(1.5)

0.8

Loss on disposal of assets

1.1

0.1

Settlement of 2018 Credit Facility--

COVID-19 related expenses

7.5

6.1

Severance costs

2.6-

Lease termination costs

1.8-

Natural disaster costs-

0.4

Contingent consideration

3.6-

Phantom shares bonus

-

129.4

Teammate IPO bonus-

4.4

Stock-based compensation expense

-

46.4

Adjusted EBITDA$106.9$187.9Net Income (Loss) Margin

7.2%(7.7)%

Adjusted EBITDA Margin

22.4%

24.7%

Investor Presentation | 27

USD Million

Year ended December 31,

Reconciliationsof Adjusted Net
Income2020

2021

Net Income (loss)$34.5$(58.7)

Amortization of intangible assets

18.8

18.8

Oﬀering costs

0.9

7.0

Foreign currency (gains) losses

(1.5)

0.8

Loss on disposal of assets

1.1

0.1

COVID-19 related expenses

7.5

6.1

Severance costs

2.6-

Lease termination costs

1.8-

Natural disaster costs-

0.4

Contingent consideration

3.6-

Phantom shares bonus

-

129.4

Teammate IPO bonus-

4.4

Stock-based compensation expense

-

46.4

Tax impacts of adjustments-(25.2)$69.4$129.4Net Income (Loss) Margin

7.2%(7.7)%

Adjusted Net Income Margin

14.5%

17.0%

Adjusted Net Income

Investor Presentation | 28