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Braze Investor Day Presentation Deck

36 Efficiencies in GTM Motion to Drive S&M Leverage 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 H1 FY'23 68.6% 51.7% 19.3% 19.3% (21.7%) 1. Reflects our long-term targets, which 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 an uncertainties described under the heading "Risk Factors in our Quarterly Report on Form 10-Q for the period ended July 31, 2022 and filed with the SEC on September 13, 2022. 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 Slide 3 for additional information regarding forward-looking statements. Long-Term Target¹ 23 - 25% ~20% S&M Levers • Improved sales productivity . Efficiencies in our go-to- market motion, including: Growing GSI relationships Expanding reseller and co-seller programs Emerging OEM relationships Product led growth • Cost optimized locations Note: Braze operates on a January 31 fiscal year end See Appendix for GAAP to non-GAAP Reconciliations and other key definitions • Automation . Efficiencies in our sales and customer success headcount braze

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