Consistent Execution with a Long-term View

Tracking About One Year Ahead of 2025 Targets Metric Total Revenue Run Rate Commercial R&D Non-GAAP Op Margin CY 2025 Targets $3B+ ~$1.2B ~$1.8B 35%+ We are not able, at this time, to provide GAAP targets for operating margin 2025 because of the difficulty of estimating certain items excluded from non-GAAP operating income that cannot be reasonably predicted, such as charges related to stock-based compensation expense. The effect of these excluded items may be significant. Copyright Veeva Systems 2022

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