Interwoven Analyst Day W Hotel Union Square New York November 15, 2007 Interwoven Confidential Interwoven Executive Team • Joe Cowan, CEO • Max Carnecchia, President • John Calonico, Chief Financial Officer • Ben Kiker, SVP and Chief Marketing Officer • Rafiq Mohammadi, Chief Strategy Officer • Brian Andersen, VP, Corporate Development • Mark Wachen, Managing Director and former CEO, Optimost 2 Today’s Interwoven Executive Presentations • Ben Kiker, Chief Marketing Officer Market Trends • Joe Cowan, Chief Executive Officer Corporate Strategy • Rafiq Mohammadi, Chief Strategy Officer Portfolio Strategy • Mark Wachen, Managing Director & Former CEO, Optimost Optimost Corporate Overview • Max Carnecchia, President Go-To-Market Strategy 3 Today’s Customer and Partner Presentations Avenue A | Razorfish: Pete Stein, Senior Vice President & General Manager Delta Air Lines: Brian DAmato, General Manager, Strategy and Measurement Abby Stephenson, Usability Manager Holland & Knight LLP: Ralph Barber, Chief Technology Officer 4 Forward-Looking Statements This presentation contains "forward-looking" statements, including statements about historical results that may suggest trends in our business, that are time sensitive and accurate as of the date of November 15, 2007 only. These statements are based on estimates and information available to us at the time of this presentation and are not guarantees of future performance. All statements other than statements of historical fact are statements that could be deemed as forward-looking statements. For example, statements about the implementation of our business strategy, about customer and market opportunities, financial forecasts and product roadmaps are forward-looking and subject to change, and any software purchase decisions should be based upon the features and functionality currently available without relying upon roadmap deliverables. Actual results could differ materially from our current expectations as a result of many factors, including: the discovery of additional information relevant to the company’s review of historical option grant practices and expected restatement, any additional conclusions of the company's Audit Committee (and the timing of such conclusions) concerning matters relating to such review and the impact of the review (including any possible accounting impact), the timing of review and conclusions of our independent registered public accounting firm regarding our historical stock option grants and related accounting, accounting adjustments to the our consolidated financial statements for certain periods, an unanticipated delay in the preparation and filing of our required reports with the Securities and Exchange Commission or an inability to meet the requirements of the NASDAQ Global Market for continued listing of our shares, any employee litigation and action by the Securities and Exchange Commission relating to such review and our expected restatement; our ability to develop new products, services, features and functionality successfully and on a timely basis; customer acceptance of our solutions, new product releases and services may be slower than we anticipate; changes in customer spending on enterprise content management initiatives; our ability to cross-sell and up-sell additional products into our installed base of customers; changes in key personnel; the success of our strategic business alliances; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; development of certain products and services may not proceed as planned; the introduction of new products or services by competitors; and the ongoing consolidation in our market place. 5 Market Trends Ben Kiker SVP & Chief Marketing Officer Interwoven Confidential Explosion of business venues and information “Retail, online and phone shopping channels are expanding, increasingly prompting customers to demand a seamless – and painless – experience.” Customer Service Champs, Business Week 7 WhatWhat areare WeWe FacingFacing NowNow?? DramaticallyDramatically differentdifferent expectationsexpectations “This is the most high-maintenance workforce in the history of the world. The good news is they’re also going to be the most high-performing.” Rainmaker / Thinking 8 WhatWhat areare WeWe FacingFacing NowNow?? AA veryvery differentdifferent competitivecompetitive landscapelandscape “Over a five year period, businesses that successfully tailor product and service offerings to desirable customer segments post annual growth profit of about 15%.” Bain & Company 9 Caught in the Middle Collapsing old model, new model under construction “The accelerating pace of change is creating a wide range of potential new priorities.” McKinsey Quarterly 10 Common Themes We’re Hearing Growth Brand and Speed Reputation Acquiring high value Experience-based Accelerate time to customers differentiation market Grow revenues from Engaging customer Process efficiency and existing customers experiences agility Global expansion Consistency across all Leverage existing channels assets 11 An Exciting Year of Transformation • Market trends creating new demand • Customers continuing to put “Interwoven at the Core” by expanding footprint • Strong foundation for growth • Executing on the opportunity 12 Interwoven Corporate Strategy Joe Cowan CEO Interwoven Confidential Our Foundation 14 Growing from a Foundation of Strength Strong Financials Strong Market Presence TTM Revenues: $217M Customers – over 4,000 YTD 13% License revenue growth Partners – over 300 $198M in cash (end of Q3’07) Developer Network – over 20,000 Strong Team 850 employees in 16 countries 15 Over 4,000 Customers – a strategic asset 16 Organized for both Short and Long-Term Success • Max: execute today • Annual and quarterly planning and execution • Customer facing teams • Joe: plan for long-term success • 2-5 year planning • Strategic planning / corporate development • Engineering 17 Continued Strong Execution License Revenues Total Revenues 18 Summary • Strong financial performance with revenue growth and cash generation • Very healthy balance sheet • Strong financial foundation to build on 19 Our Business 20 Our Business Three healthy, growing businesses 1. Web Content Management • Market-leader: most robust, scalable, flexible offering on market • Extending with Optimost acquisition 2. Professional Services Industry Solutions • Market-leader: legacy competitor has vacated the market • Extending with Interwoven Universal Search 3. Global Capital Markets • Market-leader: “Vendor of the Year” from Operations Management • Extending with Interwoven Peer-to-Peer and DealConnect for DTCC 21 Where we are going… 22 gov www.bankofamerica.com www.tyco.com www.staples.com www.adidas.comWebWeb ContentContent www.bluecross ManagementManagementma.com www.bbandt.com www.co www.hsbc.com www.visa.com www.experian.com www.tesc on.com www.transunion.com www.bt.com www.maquet.com www.ericsson.comMaximizeMaximize OnlineOnline www.toyota.com BusinessBusiness www.gmac.com PerformancePerformance www.ban www.mercerhr.com www.putnam.com www.aon.com www.departm www.sovereignbank.com www.novonordisk.com www.avaya.com air.com www.qantas.com www.singaporeairlines.com www nd.gov www.britishairways.comCreate and deploy contentwww.hilton.com-rich websites www.harrahs.com www.royalcaribbean.comAccelerate www.citi timegroup.com to web www.suntrust.com www. s.org www.russell.com www.principal.com www.konicaminolta.comDeliver dynamic www.anal customerogdevices.com experiences www.polycom.com www.channel4.co.ukMaximize oma.org marketing www.sun.com investments www.intel.com www.ibm.com www.nyc.gov com www.heidelberg.com www.nike.com www.allstate.com ww www.northwesternmutual.com www.aa.com www.chrysler.com w www.kaiserpermanente.org www.att.com www.fedex.com23 WCM Opportunity Interwoven Core Competencies Interwoven Core Assets Deep understanding of the • Customer Base (1000+)/Global 2000 content management Customers process as it applies to • Technology (Deep IP developed over Websites a decade) • Brand (Perceived as the Inventor of Content lifecycle WCM) Staging and deployment • Market Leadership (Provisioning) • Sales Knowledge and Leadership Meeting the complex needs of Global 2000 Customers • Global Reach Unique approach to managing • Knowledge through Service Websites organization Deep understanding of managing • Size and Financial Strength Rich media 24 24 Web Content Management Vision Online Marketing Suite Why? Opportunity • Based on heritage of Business problems • Strategic Plan: strong web content Deliver open, integrated management platform • Multiple niche vendors • supplying marketing marketing platform technologies • Closed loop analytics • Extend platform to power the entire online • No integrated solution • Usability tailored for marketing cycle • Lack of easy-to-use tools marketing professionals Business Issues • Integrated Web 2.0 • Content creation, delivery, optimization, • Web 2.0: Explosion of • Platform for SEO targeting & analysis user-generated content • Both company and user generated content • Engage customers through • Market Consolidation dynamic sites • Market data: IM Spend- • Easy to use for • Maintain brand 36% CAGR through 2012* business/marketing consistency • Time-to-market demands • Compelling, relevant customer experience • Increase conversion rates customer loyalty 25 * PriceWaterhouseCoopersProfessionalProfessional ServicesServices KPMG IndustryIndustry Deloitte PKF SolutionsSolutions