Klaviyo IPO Presentation Deck

GAAP to Non-GAAP reconciliation (cont'd) Non-GAAP Operating Expenses (in thousands) General and Administrative (G&A) Expense on a GAAP Basis Less: Amortization of Prepaid Marketing Expense Less: Stock-Based Compensation Expense ¹ Less: Restructuring Expense ² Non-GAAP G&A Expense Revenue G&A Expense as a % of Revenue Year Ended December 31 2021 $63,236 7,514 $55,722 $290,640 21.8% 2022 $81,834 4,458 $77,376 $472,748 17.3% Non-GAAP G&A Expense as a % of Revenue 19.2% ¹ Represents non-cash share-based awards granted. During the years ended December 31, 2022 and 2021, stock-based compensation expense of $1.5 million and $16.7 million, respectively, related to repurchasing and retiring our common stock which was paid in cash, and thus are excluded from the table above. 16.4% 2 Represents restructuring costs incurred in connection with a reduction in the Company's workforce announced in March 2023. During the period ended March 31, 2023, stock-based compensation expense of approximately $0.5 million related to the reduction in workforce is excluded from restructuring expense and included in stock-based compensation from the table above. Six Months Ended June 30 2022 $38,372 4,196 $34,176 $208,345 18.4% 16.4% 2023 Ⓒ Klaviyo 2023 $46,657 1,307 1,108 $44,242 $320,674 14.5% 13.8% Confidential 52

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