| --- | --- | --- | --- | --- | |-----------------------------------------|-------|--------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Bentley Systems' 21Q4 Operating Results | | | | | | Greg Bentley Nicholas Cumins | | Werner Andre | | | Chief Executive Officer Chief Operating Officer Chief Investment Officer Chief Financial Officer 1 | © 2022 Bentley Systems, Incorporated © 2022 Bentley Systems, Incorporated Disclaimer • This presentation includes forward-looking statements r ...

Revenue Growth - Total recurring revenues for the last twelve months reached $834,150,000, an increase of 31% from $696,662,000 in the previous year[330]. - The annualized recurring revenues (ARR) growth rate was 26%, compared to 8% in the prior year[330]. - The recurring revenues dollar-based net retention rate improved to 109%, up from 107% in the previous year[330]. - Subscriptions accounted for 84% of total revenues, with recurring revenues making up 86% of total revenues[313]. - Total revenues increased by $163,502, or 20.4%, to $965,046 for the year ended December 31, 2021, primarily driven by improvements in business performance and acquisitions[400]. - Subscription revenues reached $812,807, an increase of $133,534 or 19.7% compared to the previous year[400]. - Service revenues grew by 52.8% to $99,159, reflecting strong demand and positive foreign currency effects[400]. Account Retention and Diversification - The account retention rate remained high at 98% for the last twelve months[330]. - The company has a highly diversified account base, with the largest account contributing no more than 2.5% of total revenues[313]. - The recurring revenues dollar-based net retention rate for the year ended December 31, 2021, was 86%, highlighting the company's success in growing revenues within existing accounts[338]. Research and Development - The company continues to invest significantly in research and development to enhance existing offerings and develop new technologies[310]. - Research and development expenses increased to $220,915, up from $185,515 in 2020, indicating continued investment in innovation[397]. - Research and development expenses increased by $35,400, or 19.1%, for the year ended December 31, 2021, with a constant currency increase of 16.5%[418]. Financial Performance - Adjusted EBITDA for the year ended December 31, 2021, was $324.948 million, an increase of 22% from $266.376 million in 2020[342]. - Adjusted Net Income for the year ended December 31, 2021, was $266.940 million, compared to $192.812 million in 2020, reflecting a significant increase[343]. - For the year ended December 31, 2021, net income decreased by $33,329 to $93,192 compared to $126,521 in 2020[433]. - Adjusted EBITDA for the year ended December 31, 2021 increased by $58,572 to $324,948, representing 33.7% of total revenues[434]. - Adjusted Net Income for the year ended December 31, 2021 increased by $74,128 to $266,940, accounting for 27.7% of total revenues[435]. Acquisitions - The company completed the acquisition of Seequent for approximately $883.336 million in cash and stock, incurring $16.557 million in related expenses[358]. - The company completed 13 acquisitions in 2021, compared to six in 2020, indicating a strategy of growth through acquisitions[364]. - The company plans to selectively acquire adjacent software solutions and new technologies to enhance its existing portfolio[364]. Expenses and Costs - Total cost of revenues was $216,539, up from $167,155 in 2020, with costs of subscriptions and licenses at $124,321 and costs of services at $92,218[397]. - Selling and marketing expenses rose to $162,240, reflecting strategic investments in global business systems[397]. - General and administrative expenses increased to $150,116, with expectations of continued growth as a public company[387]. - Total operating expenses for the year ended December 31, 2021, were $653,918, an increase of $169,679, or 35.0%[418]. - Cost of revenues increased by $49,384, or 29.5%, for the year ended December 31, 2021, with a constant currency increase of 26.1%[414]. Cash and Financing - As of December 31, 2021, total cash and cash equivalents amounted to $329,337 million, a significant increase from $122,006 million in 2020[477]. - The Credit Facility was increased from $500,000 million to $850,000 million, with a maturity date extended to November 15, 2025[478]. - A new $200,000 million senior secured term loan was established with a maturity of November 15, 2025, requiring quarterly principal repayments starting at $1,250[480]. - The company incurred $15,065 million in expenses related to the 2027 Notes offering, using $536,062 million to repay outstanding indebtedness under the Credit Facility[492]. - As of December 31, 2021, the company had $849,850 million available under the Credit Facility[484]. Currency Impact - In 2021, 47% of total revenues and 42% of total operating expenses were denominated in various foreign currencies, impacting financial results due to exchange rate fluctuations[361].

Bentley Systems, Incorporated (BSY) Q3 2021 Earnings Conference Call November 9, 2021 8:15 AM ET Company Participants Carey Mann - Vice President-Investor Relations Greg Bentley - Chief Executive Officer David Hollister - Chief Financial Officer Conference Call Participants Matthew Broome - Mizuho Securities Jason Celino - KeyBanc Capital Markets Matt Swanson - RBC Capital Markets Gal Munda - Berenberg Capital Markets Joe Vruwink - Baird Kash Rangan - Goldman Sachs Carey Mann Good morning, everyone and than ...

Bentley Systems' 21Q3 Operating Results Greg Bentley, CEO David Hollister, CFO 1 | © 2021 Bentley Systems, Incorporated © 2021 Bentley Systems, Incorporated Disclaimer • This presentation includes forward-looking statements regarding the future results of operations and financial position, business strategy and plans and objectives for future operations of Bentley Systems, Incorporated (the "Company", "we", "us" and words of similar import). All such statements contained in or made during this presentation, ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ Title of each class Trading Symbol Name of each exchange on which registered Class B Common Stock, par value $0.01 per share BSY The Nasdaq Stock Market LLC FORM 10-Q ___________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 1 ...

Bentley Systems, Inc. (NASDAQ:BSY) Q2 2021 Earnings Conference Call August 10, 2021 8:15 AM ET Company Participants Carey Mann – Vice President-Investor Relations Greg Bentley – Chief Executive Officer Nicholas Cumins – Chief Product Officer David Hollister – Chief Financial Officer Conference Call Participants Matt Hedberg – RBC Jason Celino – KeyBanc Matthew Broome – Mizuho Kash Rangan – Goldman Sachs Joe Vruwink – Baird Jay Vleeschhouwer – Griffin Carey Mann Good morning, everyone. And thank you for join ...

Press Release Investor Contact: Ankit Hira or Ed Yuen Solebury Trout for Bentley Systems ir@bentley.com 1-610-458-2777 Media Contact: Carey Mann carey.mann@bentley.com 1-610-458-3170 Bentley Systems Announces Operating Results for the Second Quarter of 2021 and Updates Its 2021 Financial Outlook EXTON, Pa. – August 10, 2021 – Bentley Systems, Incorporated (Nasdaq: BSY) ("Bentley Systems" or the "Company"), the infrastructure engineering software company, today announced operating results for its second quar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ Title of each class Trading Symbol Name of each exchange on which registered Class B Common Stock, par value $0.01 per share BSY The Nasdaq Stock Market LLC FORM 10-Q ___________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) ...

Bentley Systems, Incorporated (NASDAQ:BSY) Q1 2021 Earnings Conference Call May 11, 2021 8:30 AM ET Company Participants Carey Mann - Vice President-Investor Relations Greg Bentley - Chief Executive Officer David Hollister - Chief Financial Officer Conference Call Participants Gal Munda - Berenberg Matt Hedberg - RBC Jason Celino - KeyBanc Joe Vruwink - Robert W. Baird Matt Broome - Mizuho Brian Essex - Goldman Sachs Carey Mann Good morning everyone, and thank you for joining us for Bentley Systems' Q1 2021 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39548 ___________________________________ BENTLEY SYSTE ...