The Operating System for Financial WellnessInvestor Presentation

Spring • Summer 2020

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Safe Harbor Disclosure

This presentation contains forward-looking statements. These forward-looking statements include, inparticular, statements about our plans, strategies and prospects. These statements are based on ourcurrent expectations and projections about future events. The words “may,” “will,” “should,” “expect,”“scheduled,” “plan,” “seek,” “intend,” “anticipate,” “believe,” “estimate,” “aim,” “potential” or “continue” orthe negative of those terms or other similar expressions are intended to identify forward-lookingstatements and information. You are cautioned not to place undue reliance on these forward-lookingstatements, which speak only as of their dates. These forward-looking statements are based onassumptions and estimates by our management that, although we believe to be reasonable, areinherently uncertain and subject to risks and uncertainties that could cause actual results to differ fromhistorical results or those anticipated or predicted by our forward-looking statements. These risks anduncertainties include those described in our filings with the SEC. In light of these risks anduncertainties, the matters referred to in the forward-looking statements contained in this presentationmay not in fact occur.We undertake no obligation to update or revise any forward-looking statement after the date of thispresentationas a result of new information, future events or otherwise, except as required by law.We qualify all of our forward-looking statements by these cautionary statements.

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The Operating System for Financial Wellness that empowers clients with actionable intelligence to

attain improved financial outcomes and better lives

Market-leading operating system for wealth

management in large and growing $20 trillion advisor

marketplace

Integrated technology platform for all mission-

critical advisor applications, including secure, seamless

connectivity to third parties

Next-generation enterprise data management solution,

leveraging leading data aggregation and analytics

capabilities

Envestnet (NYSE: ENV)Envestnet is the Market Leading Financial Wellness Network Offering a Comprehensive Suite of Solutions That Serves More Financial Advisors and Consumers than any other Platform in the Industry

76%

24%

Wealth Data & Analytics

55%42%

4%

Asset-BasedSubscription-BasedProfessional Services

$901M2019 Revenue

$193M2019 Adj. EBITDA

$3.3T+Total Platform

Assets

+12.3MInvestor Accounts

26M+End Client Adopters

4,900+Enterprises

500+of the Largest

RIAs

22,000+Data Sources

Next-generation enterprise data

management solution, leveraging leading data

aggregation and analytics capabilities

Integrated technology platform for all mission-

critical advisor applications, including

secure, seamless connectivity to 3rd parties

Revenue by Segment Revenue by Type

96% recurring

Envestnet is the industry leader in high growth segments of financial technology

Market-leading financial

wellness network in large and growing $20

trillion advisor marketplace

5As of 3/31/2020

6

$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Proven Record of Innovation and Growth CONSOLIDATING ACQUISITION STRATEGIC ACQUISITION PLATFORM MILESTONE

NAM

First web-based wealth management platform for fee-based advisors

First integrated Advisor-as-Portfolio Manager Program

FIDUCIARY SOLUTIONS ENVESTNET UNBUNDLES ADVISOR TECHNOLOGY

First “TAMP” to unbundle technology and services from asset management

First Sleeve-based UMA

GOES PUBLIC JULY 29, 2010

Begin Consolidation of TAMP industry

Broaden focus from Investment-centric platform to Advice-Centric platform

First fully mobile wealth management platform

WMS

Reve

nue

($ m

illion

s)

Advisor services

7

i

Best-in-Class Solutions Drive Industry Leading Position

RIAs and National Advisory Platforms

Broker DealersFinTech

Banks and Financial Institutions

8

Virtuous Cycle Has Created Significant Competitive Advantages in Accelerating Growth

• Benefit from increased data and scale• Higher post-consolidation adjusted

EBITDA and expanded margins from operating synergies

• Slower top line growth

CONSOLIDATING ACQUISITIONS

WMS

• Businesses and technologies that benefit from complementary capabilities

• Expand and improve product offerings and addressable markets

• Synergy potential

STRATEGIC ACQUISITIONS

CAPABILITIES AND

OFFERINGS

Rich Data Set to Leverage across Markets and Products

Network Partners Provide Valuable “Finapps” to Advisors and Their Customers

SIGNIFICANT ADDRESSABLE

MARKET EXPANSION

ENTERPRISE AND ADVISOR

ADOPTION

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Our Unique Network was Built Through a Multi-Pronged Strategy Including Organic Initiatives, Smart Acquisitions and a Core Tenant of Integration. Envestnet's Market Position, Scope of Capabilities and Strategic Roadmap Set the Stage for Further Disruption

Envestnet Has Led the Industry Through Wealth and Data Innovation

Product Distribution NetworkTechnology Platform and Data

1.0 2.0 3.0

Wea

lthD

ata

& A

naly

tics

Wealth Management Platform Financial Wellness NetworkManaged Account Platform• Turnkey advisor solution for

access to stocks, bonds, funds and managed accounts

• Advisor solution for access, back-office administration and reporting

• Investment advice = asset allocation and product selection

• Data-centric planning tools enhance platform

• Deep integration to all relevant wealth technology applications

• Advice = balancing short-term objectives, long-term goals and investment portfolios

FinAppsData Aggregation• Account verification• Online personal financial

management• Screen scraping

• Reconciliation• Normalization and quality• Data enrichment

• Leverage one-of-a-kind network to empower clients with technology, data and solutions beyond “wealth management”

• Advice = comprehensive planning and seamless integration of ALL solutions, driven by data

• Intelligent data, AI enabled through a user friendly developer experience

• Wealth• Credit• Payments • Analytics

Data Intelligence

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Financial Wellness Defined

• Developing plans for short and long-term goals

• Spend patterns relative to income (where and when)

• Short-term savings

PLANNING & BUDGETING

• Have sufficient long-term investment assets

• Hard assets (real estate, etc.)

INVESTING

• Credit balances, loans, mortgages for education, real estate and business

MANAGING CREDIT

• Insurance• Identity protection

PROTECTING CAPITAL

ADVISOR

Managing Credit

InvestingProtecting Capital

Financial Planning & Budgeting

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The Envestnet Difference: Scalable Platform Powered By Data

Envestnet Wealth + Data & Analytics = Data Powered Financial Wellness Network

• Industry leading TAMP at scale and growing

• Comprehensive marketplace of Exchanges for all financial needs (insurance, credit, health, etc.)

• Scaled cloud infrastructure, API enabled, from back office to client

• Financial Planning as the gateway to client engagement

• Enterprise data management• Wealth analytics and benchmarks

1,300+Companies

22K+Data Sources

26M+End Client Adopters

• Credit• Payments• Wealth • Analytics

• FinApps and Developers Portal• Standardized APIs • Cloud infrastructure

• Data aggregation• Data enrichment• Security

103K+Advisors

12.3M+Investor

Accounts

$3.3T+Total Platform

Assets

Integrated Financial Wellness Network Leveraging Scaled Infrastructure

Integrated Data and Tech Capabilities Fueled By Massive Scale of Financial Data

Wealth Data & Analytics

Financial WellnessNetwork

Solu

tions

Plat

form

Dat

aSolutionsPlatform

Data

Metrics as of 3/31/2020

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The Envestnet Vision: Deliver Financial Wellness for All Advisors and Clients by Integrating Technology, Data, and SolutionsEnvestnet’s Financial Wellness Network has Disrupted the Wealth Management Sector Successfully; Now Ready to Disrupt the Broader Financial Services Industry, Creating a Massive Opportunity

ExchangesINV INS Credit Future

Advisor Portal

Enterprise Portal

Support

Client Portal

Financial Wellness Scorecard

Vision

PortfolioMix

RiskProtection

ImpactTax

Fin Apps

Financial Planning

APIs Data Management Account Administration and Service Clearing, Custody, Trust

Optimization Engine Advisor Services

EnvestnetData

Capability

EnvestnetConnect

Data Aggregation Data Intelligence Security Data Management Solutions Money Movement

Digital Wealth Experience -Open APIs

Digital / Mobile Client Experience

Dynamic Configurations Predictive, Complete

Financial Wellness Recommendations

Financial Planning

Highly Configurable Integrated Account Opening and

Proposal Sophisticated Trading,

Rebalancing Multi Custody Integration Compliance Oversight for Advisor

/ Sponsor Comprehensive and Flexible

Billing

Performance Reporting Comprehensive View

Integrated Across the Full Solution Set

Accurate, Reconciled Data Customized Reporting

Marketplace of Exchanges Research and Consulting Services Portfolio Administration and Overlay

Services Portfolio Management and

Rebalancing Integrated Insurance Network Integrated Lending and Financing

Solutions

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Envestnet to Power the Next Phase of Advice

ImplicationsThemes driving change

Redefining what it means to be prepared

Understanding the trade offs and “what-if” scenarios will be the underpinning of advancements and usage of planning

Digital becomes more “human” Hybrid is the only engagement model and the “fidelity” will need to be the same across every medium

The fusion of health and wealth Behavioral, holistic wellness across all assets and liabilities will be the mandate, supported by an integrated tech platform

A new level of trust and relevance are the currency of valued engagement

Family and communities lead the way forward

Creating a new playbook for a sustainable business

Transparency, authenticity and logic supported by predictive analytics will be the baseline for how a client values the information and advice provider they engage with

The new mutuality, “we’re all in this together” drives the connectedness and strength of communities

The need for scale (digitizing, analytics, outsourcing, and strategic partnerships) will be the focus over product selection

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Fundamental Trends Support Growth Opportunity

Increasing reliance on technology to support evolving relationship between advisors and investors

Commission-based accounts transitioning to fee-based accounts ($Trillion)

Increasing advisor and enterprise dependence on data and analytics

Integrated technology delivers massive gains in operational efficiency.

75%

67%

64%

60%

55%

54%

Big data & smart analytics

Open architecture & APIs

Central data master mgt

Agile way of working

A.I. & machine learning

Intelligent workflows

$3.6 $4.7$6.8 $7.9 $9.7

$16.7

2009 2011 2013 2015 2017 2021E

Source: BCG Global Wealth Report, 2017 Source: Cerulli Managed Accounts Quantitative Update 2018

Source: Aite Group, September 2016 “Technology Integration Turbocharges Advisor Productivity: Making Time for Clients” survey of 330 advisors in

April 2016

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Integrated Data and Technology Turbocharges Productivity

57% more clients served78% larger book of business46% higher practice revenue/production

44% more clients servedDoubled their book of business73% higher practice revenue/production

20% more time for client management76% higher practice revenue

RIAs

IBDs

Bank BDs/Trust

Source: Aite Group, September 2016 “Technology Integration Turbocharges Advisor Productivity: Making Time for Clients” survey of 330 advisors in April 2016

Advisors+

IntegratedData & Technology

=Better Outcomes

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Delivering Long-Term Growth

Leadership position in growing and evolving advice-centric wealth management industry

Emerging network to leverage power of data and analytics to deliver better financial outcomes

Substantial organic and strategic growth opportunities

Highly recurring, visible revenues; strong free cash flow generation and operating leverage

17

Add New Enterprises

Growth Strategy

Increase Number of Use Cases

Gain Advisors / Users Leverage Data for Analytics

Broker Dealer Firms

RIA Firms Banks Insurance Companies

Other Financial Institutions

FinTech Companies

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Wealth Solutions Total Addressable MarketEnvestnet’s Wealth Business Plays in a Large and Attractive Total Addressable Market of $39 billion

Note: Represents projected 2023E Total Addressable Market and current Envestnet penetration measured by revenue. Per company research.

Org

anic

Adj

acen

t

$9.6bnTAMP

$6.3bnOptimization

Engine$5.5bn

Custody$3.7bn

Trust$2.9bn

Credit$1.2bn

AdvisorServices

$0.5bnRobo

$4.6bnWealth Tech $1.9bn

Insurance $0.6bnRetirement

$0.5bnWealth Data

$1.6bnAlt / Impact

Organic TAM: $19 billion

Adjacent TAM: $20 billion

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Data & Analytics Market Trends Fueling Greater DemandEnvestnet’s Data and Analytics Operates in a Rapidly Growing Total Addressable Market of $6 billion

FAANG Increases Pressure on FI

Broad Adoption Compels Omni-

Channel Provision

Chatbot | Mobile

Leverages AI to Produce

Actionable Insights

Increasing Demand for

Incumbent FIs to Deploy FinTech

Capabilities

Enables consumer access to financial data

AI Big Tech FinTech Open BankingFinancial Wellness

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Multiple Vectors for Long-Term Growth in Data & Analytics

Expand End User Usage

with Existing Customers

Grow Number of Customers

Increase International

Market Penetration

Big Data Opportunities

Enhanced Value

Offerings

New Channels New Markets

GROW NUMBER OF USERS GROW REVENUE PER USER GROW MARKETSHARE

• Mobile, FinApps, Integration of Financial data into core offerings, Segmented Experiences

• Rapidly Expanding FinTech EcoSystem

• FI increasing demand for FinTechoptions

• Establish Deeper Presence in UK, Australia, Canada, India

• Marketing Insights• Vertical Insights• Research

• TDE• Investment Data

Enrichment• Credit Products• Insights

• Small Business Insights

• Investment Managers

• Consumer Marketing

• Credit/Payments• InsurTech• RegTech/

BlockChain• Healthcare

• EU• Asia

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Compelling Financial Model

Growth - Expanding addressable market with broader access to FinTech, financial institutions and advisors

Visibility - Asset-based revenue billed quarterly in advance and subscription revenue on multi-year contracts

Recurring – 96% recurring revenue, long-term subscription agreements based on high level of customer retention

Significant operating leverage - Margins benefit from scalable business model and long-term market appreciation

22

Revenue Model

22

Asset-Based Recurring Revenue

55% of revenue

37% of adjusted net revenue (1)

Subscription-Based Recurring

Revenue42% of revenue

59% of adjusted net revenue (1)

RECURRING REVENUE BASED ON VALUE OF PLATFORM ASSETS• More than 90% billed quarterly in advance• Client AUM/AUA mix is approximately 45% U.S. equity, 15% international equity, 30% fixed

income, and 10% commodities, alternatives and cash

REVENUE FOR CURRENT QUARTER IS HIGHLY PREDICTABLE• Timing of net flows drives partial impact • Intra-quarter market fluctuations impact arrears-billing accounts only

REVENUE FOR FUTURE QUARTERS IS PREDICTABLE• Net flows in the previous quarter take effect the following quarter• Recurring revenue base updates for quarter-over-quarter market fluctuations

Typically earn software- and services-based fees in multi-year agreements

Subscriptions agreements primarily with large RIAs and enterprise clients

Fees are based on the level and types of investment solutions and services provided

Within contract term, revenue not subject to asset or account volatility

(1) Adjusted net revenues represents adjusted revenues less asset-based cost of revenues. Under GAAP, we are required to recognize as revenue certain fees paid to investment managers and other third parties needed for implementation of investment solutions included in our assets under management. Those fees also are required to be recorded as cost of revenues. This non-GAAP metric presents adjusted revenues without such fees included, as they have no impact on our profitability.

As of first quarter ended March 31, 2020.

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Track Record Of Solid Top- And Bottom-Line Growth Strong organic growth, accelerated by disciplined acquisition strategy

Earnings growth > organic revenue growth demonstrating scale, operating leverage

Revenue ($M)

Asset-Based Fees (%of Rev.)73 78 80

Adjusted EBITDA ($M) (1)

Note: Numbers may not sum due to rounding.(1) Adjusted EBITDA is a non-GAAP financial measure. See Appendix for additional information.

83

11 18

27 24 39

56

76

99

139

158

193

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Growth Rates (%)2009 – 2019 (CAGR)28%2019 vs. 2018 (YoY) 11%

84

Growth Rates (%)2009 – 2019 (CAGR)34%

2019 vs. 2018 (YoY) 23%

Subscription-based

Asset-based

79 61

Professional services and other

6081

36

379

484

78 98123

157

243

349

421

578

684

812

900

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

59 54

LONG-TERM GROWTH TARGETS

Organic Growth Rate in Stable Markets at a Premium to Publicly-Traded FinTech Peer Group

REVENUE

• Growth rate at or above 1.2x Organic Revenue Growth Rate

ADJUSTED EBITDA

• Subscription-based recurring revenue: mid- to high-teens

• Asset-based recurring revenue: low double digits

• Selective acquisitions can further accelerate growth

• Example: 15% revenue growth should yield at least 18% growth in adjusted EBITDA

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APPENDIX

26

Wealth Management Growth Opportunity

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Envestnet

+$3.3 Trillion

+103,000 Advisors

304,000 advisors ($19.9 trillion)Total Advisor Market

23,000 ($1.4 trillion)BANK BROKER DEALERS & TRUST

69,000 ($0.8 trillion)INSURANCE BROKER DEALERS

64,000 ($4.8 trillion)REGISTERED INVESTMENT ADVISORS

59,000 ($2.8 trillion)INDEPENDENT BROKER DEALERS

43,000 ($3.3 trillion)NATIONAL AND REGIONAL BROKER DEALERS

Grow Existing Relationships

Opportunity for 87,000 additional advisors

~$4 Trillion

Add New Relationships

Opportunity for 114,000 additional

advisors

~$12 trillion

Source: Cerulli Associates U.S. Intermediary Distribution 2019 (using 2018 data), Company estimates.

46,000 ($6.8 trillion)WIREHOUSE FIRMS

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Subscription-Based Revenue Growth Drivers

• Wealth Management Technology Offerings– Enterprise platform technology used by broker-dealers, insurance and

banks– Tamarac platform used by high-end RIAs– Client portal, financial planning and data aggregation, and enterprise

data management offerings• Data and Analytics Offerings

– Financial Enterprise data aggregation and data management solutions– Personal Financial Management Apps– Aggregation and analytics platform for FinTech innovators– Data Analytics

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Illustrative Growth Model for Asset-Based Revenue

Advisors AccountsAdvisors

AssetsAccount

RevenueAsset

Revenue

“average account size”

“effective fee rate”

1.07 1.09 1

1.166, or 16.6% asset growth 0.95

(5%)mix impact

10.8% revenue growth

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Illustrative Market ImpactAssuming +/-10% market change

(1) Non-GAAP financial measure. Please see appendix for reconciliations to the most directly comparable GAAP information.Amounts represent annualized impact applicable to subsequent quarter following assumed market change. Amounts based off of 1Q2020 actual revenue.

See additional information on slide 32 which provides calculations and other statements.

~$32M

Asset-based revenues

Management has visibility into expected performance allowing operating decisions that may impact hiring plans, variable compensation and other spending initiatives.

~$16M

Cost of Revenues

~$16M

Adjusted EBITDA(1)

unmitigated

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Illustrative Market Impact Calculations

• Given Envestnet’s high degree of subscription-based revenue and limited exposure to equity markets, a 10% equity market decline would have a 3-4% impact on our revenue.

• Approximately 90% of our asset-based revenue is billed quarterly, in advance. As such, the majority of any market impact would be seen in future quarters. Example: March 31 asset values drive our second quarter asset-based revenue.

• Approximately half of our asset-based revenue is paid to third party managers and strategists. This naturally reduces the impact on our profit from a market decline. In the above scenario, a 10% equity market decline would have a 7-8% impact on our adjusted EBITDA.

• This represents the unmitigated impact. Depending on the severity of the impact, management may choose to offset a portion of this impact through lower variable compensation, and changing its discretionary hiring and spending plans.

(1) Non-GAAP financial measure. Please see slide 32 for reconciliations to the most directly comparable GAAP information.

Illustrative Market Impact Model Assumptions

Total revenue 1Q20 revenue, annualized $986 x % asset-based ~55% of total revenue 55%x % exposure to equities Approximate 60% equity allocation 60%x % market change Assuming 10% equity market decline -10%

= revenue impact ($33) 3-4% impact on total revenue

- impact on asset-based cost of revenue Currently 51% of asset-based revenue ($16)

= impact on adjusted EBITDA(1) Unmitigated impact ($16) 7-8% impact on adjusted EBITDA

(in $millions)

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Reconciliation of Non-GAAP Financial MeasuresThree Months Ended

March 31,(in thousands) (unaudited) 2020 2019

Total revenues $ 246,539 $ 199,666Deferred revenue fair value adjustment 439 6

Adjusted revenues 246,978 199,672Asset-based cost of revenues (68,592) (53,842)

Adjusted net revenues $ 178,386 $ 145,830

Net loss $ (7,190) $ (18,268)Add (deduct):Deferred revenue fair value adjustment 439 6Interest income (391) (1,510)Interest expense 7,134 7,096Accretion on contingent consideration and purchase liability 599 240Income tax provision (benefit) (1,964) 3,768Depreciation and amortization 27,683 19,517Non-cash compensation expense 13,470 12,864Restructuring charges and transaction costs 2,820 7,366Severance 13,982 2,480Non-recurring litigation and regulatory related expenses 703 —Foreign currency (494) (1)Non-income tax expense adjustment 188 210Non-recurring gain (4,230) —Loss allocation from equity method investment 2,030 203(Income) loss attributable to non-controlling interest (201) 31

Adjusted EBITDA $ 54,578 $ 34,002

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Reconciliation of Non-GAAP Financial Measures32

Note: Numbers may not sum due to rounding.

Year ended December 31,(in millions, except share and per share information) (unaudited) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Net income (loss) 23.94 5.26 (0.87) (0.63) 7.61 0.47 3.66 13.98 4.44 (55.57) (3.28) 4.01 (17.20)

Accretion on contingent consideration and purchase liability - - - - - - - - 0.89 0.15 0.51 0.22 1.77Bad debt expense - - 0.38 2.67 - - - - - - - - -Contract settlement charges - - - - 1.18 - - - - - - - -Customer inducement costs - - 0.02 3.24 4.57 - - - - - - - -Deferred revenue fair value adjustment - - - - - 1.25 0.16 - 0.32 1.27 0.13 0.12 9.27Depreciation and amortization 2.92 3.54 4.50 5.70 6.38 12.40 15.33 18.65 27.96 64.00 62.82 77.63 101.27Fair market value adjustment on contingent consideration liability - - - - - - 0.50 (1.43) (4.15) 1.59 - - (8.13)Foreign currency - - - - - - - - - (0.72) 0.49 (0.59) (0.07)Impairment of customer inducement assets - - - - 0.17 - - - - - - - -Impairment of equity method investment - - - - - - - - - 0.73 - - -Impairment on investments - 0.68 3.60 - - - - - - - - - -Imputed interest expense on contingent consideration - - - - - - 0.79 1.47 - - - - -Income tax provision (benefit) (14.15) 4.61 1.81 1.53 2.98 2.60 2.05 8.53 4.55 15.08 1.59 (13.17) (30.89)Interest expense - - - 0.56 0.79 - - 0.63 10.27 16.60 16.35 25.20 32.52Interest income (1.15) (0.81) (0.22) (0.15) (0.08) (0.03) (0.02) (0.14) (0.34) (0.04) (0.20) (2.36) (3.35)Litigation related expense - - 0.60 1.93 0.13 0.27 0.01 0.02 0.07 5.59 1.03 - 2.88Loss allocation from equity method investment - - - - - - - - - 1.42 1.47 1.15 2.36Loss attributable to non-controlling interest - - - - - - - 1.23 1.64 1.08 0.32 1.79 0.11Non-cash compensation expense - 0.45 0.78 1.73 3.06 4.04 8.92 11.42 15.16 33.28 31.33 40.25 60.44Non-income tax expense adjustment - - - - - - - - - 6.23 0.35 (0.59) 0.37Other - - - - (1.10) - - (1.83) 0.07 (1.38) - - -Re-audit related expenses - - - - - - 3.11 - - - - - -Restructuring charges and transaction costs - - - 0.86 1.05 2.72 3.30 2.67 13.50 5.78 13.67 15.58 26.56Severance - - - 0.67 0.70 0.28 0.79 0.74 1.70 4.34 2.32 8.32 15.37

Adjusted EBITDA 11.56 13.73 10.60 18.11 27.44 23.99 38.59 55.94 76.07 99.44 128.89 157.55 193.29