Limeade : FY21 Annual Report

onlyuse personalFor Annual Report 2021

Limeade, Inc. ARBN 637 017 602

For personal use only

Contents

1. Chair and CEO Letter

1. Limeade at a Glance

1. A History of Success

1. Environmental, Social and Governance

1. Directors' Report

1. Remuneration Report

1. Financial Report
2. Independent Auditors' Report

1. Additional Securities Exchange Information
   iii Corporate Directory

ii

LIMEADE

For personal use only

At Limeade,

we transform work into a source of positivity, energy, humanity and purpose.

2021 ANNUAL REPORT

1

Chair and CEO Letter

For personal use only

Shareholders,

We are pleased to present the Annual Report for the financial year ended 31 December 2021 (FY21).

Our Compass Guides our Actions

Limeade is on a mission to transform work into a source of positivity, energy, humanity and purpose. The company and its Board have ratified this purpose and the values and behaviors that support it as our compass. Our compass is informed by Limeade Institute science, and guides our strategy, our investments in human-centric innovation, our TINYpulse acquisition and everything else we do to set the company up for long-term success.

We are grateful to serve millions of people at hundreds of companies in over 100 countries. They use Limeade solutions - Limeade Well-Being, Limeade EX and Limeade Advanced Listening (TINYpulse) - to navigate the intertwined future of life and work. By putting well-being at the heart of the employee experience, Limeade helps reduce burnout and turnover while increasing well- being and engagement - ultimately leading to improved business performance.

Employees who sense care from their companies are four times less likely to burn out and ten times more likely to recommend their company as a great place to work. Limeade is ideally positioned to help companies support employees and their companies in times of change.

Employee engagement is the engine of any company's success.

Well-Being is the fuel.

Limeade Advanced Listening - TINYpulse Acquisition

In July, Limeade acquired Seattle- and Saigon-based employee listening leader TINYpulse for $9.1 million in cash. This strategic acquisition gives Limeade direct access to executive HR buyers at thousands of mid-market and SME customers. It establishes Limeade

as perhaps the only company with world-classwell-being, employee experience (EX) and listening solutions. Limeade Advanced Listening allows helps company leaders hear the heartbeat of their workforces, discover engagement, inclusion and burnout hotspots - and take

"Listening is the heart of well-being, and well-being is the heart of the employee experience."

- Henry Albrecht

focused action with Key Driver Analysis (KDA).

We are pleased with the integration of the acquisition to date. Limeade Advanced Listening (TINYpulse) CARR has grown to $7.3 million, ahead of Limeade expectations at the time the transaction settled. Simply put, it helps us keep our promise to help companies hear more, know more and do more for their people.

Limeade also started offering its flagship Limeade Well-Being solution to mid-market customers with

500 to 5,000 employees, starting in Q4 FY21. Offering our Well-Being, EX and Advanced Listening solutions directly to the mid-market helps increase our total addressable market.

2

LIMEADE

For personal use only

Product and Technology Innovation

• Real-TimeDashboards that prove the value of increased company benefit and resource utilization, positive health & well-being trends and more
• Integrations with Microsoft Viva and Microsoft Teams that provide refreshing ways to infuse well- being experiences into the flow of work, increasing utilization from new and dynamic interfaces
• Global Optimization that makes Limeade Well-Being and EX solutions available in 17 languages for large companies to amplify care from company leaders across their globally distributed workforces

Strengthening our Commitment to Diversity, Equity and Inclusion

Limeade has strengthened its C-Suite, adding Chief Financial Officer Todd Spartz, Chief People Officer Liz Carver, Chief Marketing Officer Dr. Patti Fletcher, among many other moves. We have continued to diversify every part of the company as part of our ongoing commitment to diversity, equity and inclusion. Rare in the technology sector, 50% of the Limeade workforce identify as women.

On behalf of Limeade, we appreciate and thank our valuable employees, our LimeMates, for making a positive difference in our business and in our customers' businesses by delivering healthier employee experiences to millions of people.

Industry Recognition

We were pleased to once again receive industry recognition for our commitment to our workplace. Limeade was certified by Great Place to Work for the fifth time, named one of Washington's 2021 Best Workplaces by the Puget Sound Business Journal for the eighth time and honoured as one of Washington's 2021 Best Companies to Work For by Seattle Business Magazine for the fifth time. By creating a world-class employee experience for its own employees, Limeade is well suited to deliver software that helps other companies create great places to work.

2021 ANNUAL REPORT

3