Veeva Data Cloud Presentation

Durable Operating Model FY182 FY19 FY20 FY21 FY223 Non-GAAP 71% 73% 75% 75% -75% Gross Margin 1 S&M % of Revenue 16% 15% 14% 12% ~12% (Non-GAAP) 1 R&D % of Revenue 17% 16% 16% 16% ~16% (Non-GAAP) 1 G&A % of Revenue 7% 7% 8% 7% 7% (Non-GAAP) 1 Non-GAAP 32% 36% 37% 40% ~40%3 Operating Margin¹ Fiscal Year Ending January 31 1 A reconciliation of GAAP to non-GAAP measures is set forth in the Appendix 2 Restated for ASC 606 3 Based on the high end of our guidance issued September 1, 2021 Copyright Veeva Systems 2021

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