Investor Presentaiton

Return on Invested Capital (ROIC) Calculation (dollars in millions) blackbaud Total Assets Less: Restricted cash and customer funds receivable Less: Non-interest bearing current liabilities Add: Accumulated depreciation Add: Accumulated amortization of software development Add: Accumulated amortization of ROU assets¹ Add: Accumulated amortization of intangibles Less: Purchase price of 2020 acquisition² Add: Research & development (excluding stock-based compensation) 3Y Expense³ Invested Capital Income from Operations Add: Rent/Lease expense Add: Depreciation Add: Amortization of software development Add: Amortization of intangibles EBITDA4 Add: Stock-based compensation Add: R&D Exp (excl SBC) Adjusted EBITDA4 Less: Implied taxes (assumes 20% tax rate) Adjusted NOPAT4 Return on invested capital (ROIC) (1) With adoption of ASC842 and subsequent addition of right-of-use assets on the balance sheet, value of leased assets is replaced (2) No acquisition completed in 2020 (3) Sum of previous three years R&D expense excluding any stock-based compensation (4) Non-GAAP EBITDA, Adjusted EBITDA, Adjusted NOPAT 2020 $2,045 (610) (392) 70 53 24 277 0 266 $1,732 37 42 32232 19 42 173 87 82 342 (7) $335 19.3% 41

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