Consistent Execution with a Long-term View

Disciplined Approach to Spending and Profitability 20% Q2'23 Total Spend¹ as a % of Total Revenue Services Revenue and Gross Margin¹ 15% 14% 11% 10% 5% 0% Cost of Cost of Subscription Services 1 Total spend and gross margin are on a non-GAAP basis. A reconciliation of GAAP to non-GAAP measures is set forth in the Appendix. 18% 12% 8% 34% 31% 29% 30% 28% Revenue --Gross Margin 367 286 208 168 131 R&D S&M G&A FY18 FY19 FY20 FY21 FY22 Copyright Veeva Systems 2022

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