#1braze#2Disclaimer Bizh in the Company Braze court has a registration statement on Form as amended including a preliminary prospectus with the Securities and Exchange Commission the SC) for the offering to awth this presentation tes The cffening will be made sniy by means of a prospectus Befom you you should read this time statement, including the preliminary prasp tus, and other documents we have filed with the SEE moremplete information about the Company and this offering You may get these documents for free by visiting EDGAR on the SEO Web site at www.sec.goy Alternatively, copies of the preliminary prospectus may be obtained from Goldman Sachs & Co LUC Pespectus Department 200 West Street New York, NY 10262 telephone 1-566-471-2526 facsimile: 212-902-936 or by emailing Prospectus cyanyemalgs.com JP Morgan Secuntes LLC c/c Broatedge Finance Solutions Attention Prospectus Department 1155 Long Island Avenue Edgewood NY 11717, or by telephone at 1-866-803 9234 or Barclays Cepital c do Broadridge lancul Solutions Attention Prospectus Depammint 155 Long Island Avenios Edgewood NY 11712, or by tolmphony at 1-888-603-5647 Thingistration statement relating to the Company's scunas has not yet becama efective and the secure may not be sold or may oftend cepted, pior to the time to gatration statement becomes olfactive Teia pretentation shall not constitute an offer to all or the solicitation of an offer to bug any secuntin not phall the be any sale of such securities in any offer, noluitation or sale would be unlawtul prion to registration or qualification under the laws of any such state of jurisdiction We are not soliciting nor will we post offers to truy secties of the Company in any juliadiction when the offer a sale is not permitted Forward-Looking Statements This presentation contains Torward-Hooking statements within the meaning of Section 27A of the Act and Section 21E of the Securibes Exchange Act of 1954, as amended in some cases you can identify forward-locking statements by terma such as anticipate beleve contemplate tats expect intend "may might pn proct wit would," "should could egative of these terms and similar expressions intended to identify forward-looking statements Howwer not afterward-locking statements contar these identifying words These statements may impact on trom the COV- pandemic, aur mixt size and growth strategy out estimated and projected costs margins, reventa expenditures and custome and financial growth rates, oui tirancial outlook. ubjectives for future operations growth initiatives de strategies. By the nature, these statements are t numerous uncertaints and riskt beyond our control that could actorul renuits performance or schement to differ matemally and achversely from those anticipated or implied in the forward-locking statements. These msumption uncertenties and risks include that among others the effects of the COMID-19 pandemic and the governmental actions taken to combat the pandemic may matonally affect how we and our customers operate our business and the duration and extent to which this thestars our future results of operations and overall financial pert mance a uncertain any decline in new customers, renewals or upgrades out limited operating history makes it difficut to evaluate our prospects and future results of operations, we operate in competitive markets, we may not be able to sustain our revenue growth rate in the future, our buriness would be harmect by any significant Interuptions delays or outages services from our platform or certain ac midis pistforms, and a cybemecurty-witted attack, eignificant data brach ordemption of the information technology systems or networks yould negatively affect tim y por forward-looking statements as prediction of futur the risks tratice statement on Fot ang the dected under the headings Risk actors and Note Regarding Forward-looking Statements in the preliminary prospectus Forward-looking statements speak only as if the date the w meds and are based on information availablito Baze at the timethose statememade and/ nagements belor se ot that time with respect future events Bran assume a naponsibility for the accuracy and completeness of the forward-looking statements and assumes no obligation to update forward-looking statements to reflect events of after Use of Non-GAAP Financial Measures ating suutsi and inampating We have provided in this presentation cemen fuecial information that has not been prepamd in accordance with generally accepted accounting primplesnited States "GAAP Ourreanagement to these non-GAAR Frenciales internaty in analyong our finaal s that of these nery GAAP final to investors is an additional to evalu rew-GAAM fancial messures Non-GAAP financial mea the considered in inca abstitutu peab prepared cordance with GAAP At the end of nilation of our historical roh GAAP Enamais should the read only s to the most directly comparable GAAP Customer Metrics and Market Data Unless otherwise noted, information in this presentation concerning out industry including industry statists and treats, competitive position party scalces and management estimates Management estimates are derived from publicly available informaceleased by independent industry Fropictions independently verified the county nicom dertake to update inacety of fecor We Secubiay b with CA the information paded by indepe with Trademarks All third-party teams and builded by the station a property thepictam mers All referentes the party aderatorentation purpos sted financlat ests and other third party sources, as wel data from our internal reach and as based on upons made by os padomasis the indunya ons, other third parties of other publicly available ents in this presentation#3Ra braze Bill Magnuson CEO & Cofounder#4Braze Overview#5N b Relevant Real Time Cross Channel IZ#6Channel Centric ● Do#7Customer Centric 8#8Welcome new rewards members THANKS FOR JOINING PIZZA REWARDS UN MTD POINTS TOWARD FREE PIZZA YOU SPEND ONLINE Start Earning $1=2#9Celebrate milestones Happy Birthday To You We heard someone (that'd be you) is celebrating a special day this month. We couldn't decide what to get so you have to pick out your birthday treat HAPPY BIRTHDAY! We hope your day, wsk, month and year are as awesome as you are. REDEEM YOUR GIFT#10Bring customers back for more Thanks for placing an order with Pizza QSR. Your order will be ready in 45 minutes. Type T when you arrive at the restaurant, and we will bring your pizza out to you! A team member will be out with your order. Thanks!#11T PIZZA REWARDS '1=2 Cross-channel experience Thanks for placing an order with Pizza QSR Your order will be ready in 45 minutes Type T when you anive at the restaurant, and we will bring your pizza out to you A team member will be out with your order#12LISTEN UNDERSTAND ACT 8 Data Ingestion Classification Orchestration Personalization Action#13braz Campaign Design Orchestration Message Sending Data Analytics#14braze Create Imagine Evolve#151,000+ Customers Worldwide#163.3 billion Monthly Active Users#177+ trillion Data Points#181 trillion Messages#19Product Deep Dive#20M Jon Hyman CTO & Cofounder#21LISTEN UNDERSTAND ACT Data Ingestion#22LISTEN UNDERSTAND ACT Data Ingestion Classification Orchestration Personalization Variant 1 Schedule Exceptions Campaign Settings Variant 2 Schedule Triggers Messages#23LISTEN UNDERSTAND ACT Data Ingestion Classification Orchestration Personalization Create Campaign Add Personalization || Insert Personalization#24Al Tools Predictive Audience Creation Send-Time Optimization Channel Affinity Scores Multi-Armed Bandit Optimization#25LISTEN UNDERSTAND ACT Data Ingestion Classification Orchestration Personalization Action#26In-Product Channels In-App Messages In-Browser Messages Content Cards#27Out-of-Product Channels Mobile Push Notifications Web Push Notifications Email SMS and MMS Messages OTT (Over-the-Top Messaging) Connected TV Channels#28LISTEN UNDERSTAND ACT Data Ingestion Classification Orchestration Personalization Action Braze Currents Data Warehouse & Visualiration snowflake looker Data Storage Microsoft aws Azure Google Cloud Customer Data Management segment Customer Data Management Amplitude mixpanel mparticle#29braze Bonfire#30Go-to-Market & Growth Opportunities.#31Myles Kleeger President & CCO#32Traditional Enterprises 2016 2017 2018 2019 2020 2021 Emerging Disruptors#3340% Revenue Derived Internationally Note numbers as of FY21#34Growth Vectors Add New Customers Invest in New Products Deepen Partner Ecosystem Expand within Existing Customers V#35E-Commerce Company Content Cards Triggered Email Channel Web Push In-App Messages Mobile Push SMS#36Global Entertainment Company News Brands TV Travel & Leisure H Sports Theme Parks Streamers#37$ Mobile Payment Company Transactional Use Case Lifecycle Promotional#38Global QSR Company Consumer Business Line Restaurants Drivers#39Food On-Demand Company Canada Mexico & Brazil USA Regions UK & France LatAm Hong Kong South Africa Australia#40$16+ billion U.S. TAM in 2021 <1% Current Penetration#41Our Team#42Jon Hyman, CTO & Cofounder Kevin Wang, SVP, Product#43Myles Kleeger, President & CCO Susan Wiseman, General Counsel Dan Head, CRO#44Sara Spivey, CMO Isabelle Winkles, CFO Jessica Bartlett, SVP, People Pankaj Malik, CAO#45©2021, Fortes Media LLC. Used with permissi Forbes 2021 THE CLOUD 100 WORLD'S BEST CLOUD COMPANIES Bessemer Venture Partners ventures CRAIN'S 2021 best places to work in NYC FORTUNE BEST WORKPLACES FOR MILLENNIALS™ 2021 Best Workplaces™ For Women Medium Organisations Great Place To Work. UK 2021#46Financial Overview Lo#47d Isabelle Winkles CFO#48$150 million in Revenue 56% YOY Growth Note: All metrics represent FY 21. Fiscal year ends January 31.#4950% ARR from Large Customers¹ Note: All metrics represent FY 21. Fiscal year ends January 31, 1. Customers with $500K+ ARR#50d 123% Dollar-Based NRR 133% Large Customer¹ Dollar-Based NRR Note: All metrics represent FY 21. Fiscal year ends January 31, 1. Customers with $500K+ ARR#51d 94% Subscription Revenue 64% Gross Margin Note: All metrics represent FY 21. Fiscal year ends January 31, See Glossary page for GAAP to Non-GAAP reconciliations and other key definitions.#52$ $223m Quarterly Revenue Run Rate 55% YOY Revenue Growth 50% ARR From Large Customers¹ M 125% Dollar-Based NRR 135% Large Customer¹ Dollar-Based NRR $ 93% Subscription Revenue 67% Gross Margin Note: All metrics represent figures from the quarter ending July 2021, except for percent of subscription revenue and gross margin, which are from the six months ended July 2021. Fiscal year ends January 31. See Glossary page for GAAP to Non-GAAP reconciliations and other key definitions 1. Customers with $500K+ ARR#5341% 25% 16% 59% FY '20 ARR by Customer Spend 50% 33% 17% 50% FY '21 50% Customers with under $500K ARR 37% 13% 50% Q2 FY '22 728 18 27 638 FY '20 Customers with $500k -$1M ARR Note: Fiscal year ends January 31. 1. Customers with $500K+ ARR Number of Customers 58% Growth in large customer count 890 31 40 819 FY '21 Customers with over $1M ARR 1,119 41 41 1,037 Q2 FY '22 82#54Growth Vectors More Users Higher Messaging Volumes New Products Expanding Use Cases Deepening Brand Penetration Extending with our Customers into New Geographies FY'16 FY'17 FY'18 FY'19 FY'20 Note: Fiscal year ends January 31. See Glossary page for GAAP to Non-GAAP reconciliations and other key definitions. FY'21 Expansion of cohort ARR since initial year FY '20 FY '19 FY '18 FY '17 FY '16 1.3x 1.5x 1.9x 3.0x 3.2x#55% of Subscription 93% FY '20 94% FY '21 93% Q2 FY '22 Note: Fiscal year ends January 31. ~24 month dollar-weighted average contract length#56Stable Margins While Investing for Growth 63% FY '20 Gross Margin 64% FY '21 64% 1H FY '21 67% 1H FY '22 (10)% FY '20 (7)% FY '21 FCF Margin Note: Fiscal year ends January 31. See Glossary page for GAAP to Non-GAAP reconciliations and other key definitions. (4)% 1H FY '21 (10)% 1H FY '22#57d Monthly Active Users 1.6 billion Jan 2019 3.3 billion Jul 2021#58d Contract Components Monthly Active User Count CPM Pricing for Email and SMS Annual Platform Fee Add-on Features#59Long-Term Target Model Non-GAAP Measures Gross Margin S&M expense as % of revenue R&D expense as % of revenue G&A expense as % of revenue Operating Margin FY '20 63% 53% 17% 15% (22)% FY 21 64% 45% 18% 17% (16)% H1 FY 22 67% 46% 19% 15% (13)% Long-Term Target 65-70% 23-25% 13-15% 8-10% -20% Note: Fiscal year ends January 31. See Glossary page for GAAP to Non GAAP reconciliations and other key definitions The long-term targets presented on this slide are not projections or estimates of future financial results. Our ability to achieve these long-term targets is subject to various risks and uncertainties. There are important factors that could cause our future results to differ materially from those suggested by these long-term targets, including, but not limited to, the risks and uncertainties described under the heading "Risk Factors in the prospectus for the offering to which this presentation relates. There can be no assurance that we will achieve the long-term targets presented on this slide in a timely manner or at all. Please see the disclaimer side for additional information regarding forward-looking statements#60braze#61Non-GAAP gross margin, sales and marketing expense, research and development expense, general and administrative expense and operating margin We calculate non-0AAP sales and maketing expense, non-GAAPresearch and development expense and non-GAAP general and administrative penseleach as a percentage of revenue by adding back stock-based compensation expense to the corresponding GAAP matric and dividing the sum by our revenue for the applicable period. Glossary: GAAP to Non-GAAP Reconciliation We calculate non-0AAP gross margin by adding back stock-based compensation expense associated with cost of revenue to GAAP gross proft and non-GAAP operating margin by adding back stock-based compensation associated with sales and marketing expense, research and development expense and general and administrative expense to GAAP less from operations and, in each case, dividing the resulting sum by our revenue for the applicable period The relevant stock-based compensation amounts are set forth in the "Results of Operations table We provide these non GAAPmetrics as supplemental measures because we believe they assist investors in analyzing our performance without the effect of stock based compensation, which may net directly relate to our underlying operating performance in the applicable penod. You should not consider these non-GAAP metrics in isolation or as substitutes for analysis of our results as reported under GAAP, and you should be aware that other companies may define similarly titled matrices differently we calculate gross margin under GAAP as our gross profit as a percentage of our revenue for the applicable period. We calculate operating margin undar OAAP as our less from operations as a percentage of our revenue for the applicable penod Net cash used in operating activities.. Less: Free Cash Flow Purchases of property and equipment Capitalized internal-use software costs. Free cash flow.... Net cash (used in) provided by investing activities Net cash provided by financing activities... Fiscal Year Ended January 31, 2021 Six Months Ended July 31. 2021 in thousands) $ (7,365) $ (6,080) $ (221) $ (8,414) (1,724) (2.466) (1,800) (755) (830) (1,886) (980) (1.172) $ (9.919) S(10,432) $ (3,001) $(10,341) $(87,234) $ 22,472 $18,331 $18,885 $ 1,257 $ 4,866 $ 318 $ 2,584 Consolidated Statement of Operations Data: Revenue.... Cost of revenue Gross profit Operating expenses: Sales and marketing. Research and development General and administrative() Total operating expenses Loss from operations..... Other income (expense): Investment income... Other income (expense), net Loss before provision for income taxes Provision for income taxes Net loss. Results of Operations (1) Includes stock-based compensation expense as follows: Cost of revenue. Sales and marketing Research and development. General and administrative. Toul stock-based compensation expense. Fiscal Year Ended January 31. Six Months Ended July 31, 2020 2021 2021 (in thousands, except share and per share data) $ 96,364 $ 150,191 $ 35,686 54,511 60,678 95,680 57,348 20,339 16,524 94,211 (33,533) (32,152) 2,127 48 (31,358) 452 70,661 29,212 27,959 840 (120) (31,432) 537 (31,810) $ (31,969) S $ 276 6,365 3,705 2,062 $12,408 67,929 $ 24,801 43,128 127,832 55,974 (12,846) 31,061 12,759 12,154 $ 650 2,892 2.102 1,896 $7,540 Fiscal Year Ended January 31. Six Months Ended July 31. 2020 2020 2021 in thousands) 103,633 34,562 69,071 589 86 85 (351) (12,172) (25,440) 223 326 (12,395) S (25,766) 51,843 23,392 19,011 94,246 (25,175) $ 200 1,055 657 815 $2,727 S 367 4,295 4,158 3,786 $12,606