Consistent Execution with a Long-term View

Key Takeaways - TFC Change Consistent TFC treatment of customers with MYR deals Impact to FY24 • ~$60M one-time reduction to revenue for deals without TFC, resulting in a ~150bps headwind to non-GAAP operating margin With continued execution, we do not expect an impact to: • Cash flows ⚫ Billings • Expected total revenue on MYR deals No expected impact to delivering our 2025 $3B revenue run rate target about one year ahead and 35%+ operating margin Copyright Veeva Systems 2022

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