Veritone : Investor Presentation April 2024

Investor Presentation

April 2024

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

Forward Looking Statements & Disclaimers

This presentation of Veritone, Inc. (the "Company") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties.

Without limiting the generality of the foregoing, words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "continue," "can," "may," "plans," "potential," "projects," "seeks," "should," "will," "would," or similar expressions and the negatives of those expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. The forward-looking statements contained in this presentation reflect our current views with respect to future events.

Forward-looking statements represent our management's beliefs and assumptions only as of the date of this presentation. We have included important factors in the cautionary statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and other periodic reports that we have filed and may in the future file with the Securities and Exchange Commission (the "SEC"), particularly in the Risk Factors sections, that we believe could cause actual results or events to differ materially from the forward-looking statements that we make. Those factors include, but are not limited to: our ability to expand our aiWARE SaaS business; declines or limited growth in the market for AI-based software applications and concerns over the use of AI that may hinder the adoption of AI technologies; our requirements for additional capital and liquidity to support our operations, our business growth, service our debt obligations and refinance maturing debt obligations, and the availability of such capital on acceptable terms, if at all; our reliance upon a limited number of key customers for a significant portion of our revenue; declines in customers' usage of our products and other offerings; our ability to realize the intended benefits of our acquisitions and divestitures, including our ability to successfully integrate our recent acquisition of Broadbean; our identification of existing material weaknesses in our internal control over financial reporting; fluctuations in our results over time; the impact of seasonality on our business; our ability to manage our growth, including through acquisitions and our expansion into international markets; our ability to enhance our existing products and introduce new products that achieve market acceptance and keep pace with technological developments; actions by our competitors, partners and others that may block us from using the technology in our aiWARE platform, offering it for free to the public or making it cost prohibitive to continue to incorporate technologies into our platform; interruptions, performance problems or security issues with our technology and infrastructure, or that of our third party service providers; the impact of the continuing economic disruption caused by macroeconomic and geopolitical factors, including the COVID-19 pandemic, the Russia-Ukraine conflict, the war in Israel, financial instability, inflation rates and the responses by central banking authorities to control inflation, monetary supply shifts and the threat of recession in the United States and around the world on our business operations and those of our existing and potential customers. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Before you invest, you should read the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, Quarterly Reports on Form 10-Q and the other documents the Company has filed and may in the future file with the SEC for more complete information about the Company. You may obtain these documents for free on the Company's website or by visiting EDGAR on the SEC website at www.sec.gov.

In addition to the Company's financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), this presentation also includes certain non-GAAP financial measures. Tables detailing the items excluded from these non-GAAP financial measures and reconciling such non-GAAP financial measures with the most directly comparable GAAP financial measures are included in the Appendix.

The Company has provided these non-GAAP financial measures because management believes such information to be important supplemental measures of performance that are commonly used by securities analysts, investors and other interested parties in the evaluation of companies in its industry. Management also uses this information internally for forecasting and budgeting.

These non-GAAP financial measures should not be considered as an alternative to net income (loss), operating income (loss) or any other financial measures so calculated and presented, nor as an alternative to cash flow from operating activities as a measure of liquidity. Other companies (including the Company's competitors) may define these non-GAAP measures differently. These non-GAAP measures may not be indicative of the historical operating results of the Company or predictive of potential future results. Investors should not consider these non-GAAP financial measures in isolation or as a substitute for analysis of the Company's results reported in accordance with GAAP.

This presentation also contains information using industry publications that generally state that the information contained therein has been obtained from sources believed to be reliable, but such information may not be accurate or complete. While we are not aware of any misstatements regarding the information from these industry publications, we have not independently verified any of the data from third-party sources nor have we ascertained the underlying economic assumptions relied on therein.

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.	2

The Enterprise AI

Company That Makes

Humans Even Better

Veritone is a leading enterprise AI software, applications and services provider with one mission - to advance the capabilities of AI to empower people to do more than they ever thought possible.

Founded in

NASDAQ:

Employees:

Customers:

2014 VERI 650+* 3,460*

*Employees and customer count as of March 25, 2024.

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

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Earnings Results Snapshot

KEY INDICATORS IN Q4 2023 & FY23

FINANCIALS

$34M

Q4 2023

Total Revenue

$128M

FY 2023

Total Revenue

KPIs

3,460

Q4 Total Software

Products & Service

Customers(2))

$20M

Q4 2023

Software Revenue

$83M

FY 2023

Pro-Forma Software

Revenue(1))

$82M

Q4 Annual Recurring Revenue

$79M

Cash & Cash Equivalents as of 12/31/2023

>90%

Q4 2023 Gross Revenue Retention(2))

(1)	Calculated on a Pro Forma basis; for definitions and more information, see the Supplemental Financial Information and applicable reconciliations slides in the Appendix.
(2)	As of December 31, 2023.	4
Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

Recent Business Highlights

NOV	Veritone Joins the Generative AI Center of Excellence

28 for AWS Partners

Veritone will serve as a contributing company to the newly launched Generative

AI Center of Excellence for Amazon Web Services Partners ("AWS") in the AWS

Partner Network. Veritone will contribute its expertise to support the growing

landscape of generative AI tools, applications and use cases.

DEC	Airspeeder, Veritone and base Revolutionise eVTOL

14 Racing Series With Digital Media Hub Partnership

Airspeeder, the world's first racing series for crewed electric flying cars, has partnered with Veritone to use our Digital Media Hub ("DMH") as the foundation for current and future media platform activities. In a multi-year deal that will

enhance the growth of the new sport, Airspeeder digital media, broadcast content

and data is being managed in DMH and leveraged for distribution, monetisation, AI-assisted editing, packaging for press publications and remote production enhancement.

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

FEB Veritone Announces Restructuring Initiatives

21

Announced restructuring of organization in Q1 2024, resulting in forecasted annualized savings of 15% of operating expenses, accelerating projected near- term cash flow profitability to as early as Q4 2024. These initiatives, which began in January 2024, include a workforce reduction, with the majority of these workforce actions being completed by the end of the 1Q24. Veritone expects to incur up to $2.0 million in costs and expenses as a result of these reductions.

MAR	Dalet and Veritone reach agreement to distribute,
06	transact and monetize media archives
	Announced a technology partnership with Dalet, a leading technology and
	service provider for media-rich organizations, enabling a seamless workflow from
	content creation through production, creation, packaging and distribution,
	empowering media, sports and entertainment customers to monetize their digital
	media archives.

MAR	Veritone Launches AI-Powered iDEMS for Public
12	Safety and Judicial Agencies
	Veritone launched its new Intelligent Digital Evidence Management Systems
	("iDEMS"), one of the industry's first cloud-based digital evidence management
	solutions that integrates AI to help public safety and judicial agencies accelerate
	investigations. iDEMS combines Veritone's market-leading solutions for state and
	local law enforcement agencies - including Investigate, which is now available in
	the AWS marketplace - to form a centralized repository with AI-enabled
	applications that automate workflows and extract valuable data and insights,
	significantly improving upon legacy evidentiary software.	5

Veritone's

Growth

Drivers

(1) International Data Corporation (IDC)

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

DOUBLE DOWN ON CORE VERTICALS

• Deepen exposure to industries we serve
• Leverage track record of AI partner model success to increase market share
• Grow our diverse customer and revenue base

UNLOCK THE POTENTIAL OF EXISTING CUSTOMERS

• Showcase expanding market applications of solutions across core verticals to existing customers
• Upsell additional volume to current customers
• Cross-sellexpanding use cases
• Convert trial customers, particularly in government and regulated industries, to long- term customers

CAPITALIZE ON DATA & INTEGRATION CAPABILITIES

• Deliver best-in-class ecosystem to drive operational efficiencies, accelerate decision making and increase profitability
• Market ability to integrate and orchestrate disparate data and workflows

HARNESS EXPANDING MARKET OPPORTUNITY

• Expand our offerings to meet the demands of increasing spend and use cases of AI within enterprises
• Global AI market expected to grow at 19% CAGR and reach ~$900B by 2026(1)

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An Ever-Expanding Partner & Customer Ecosystem

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Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

Investment Highlights

Large & Growing	A Leading Operating System and	Focused Growth and Pathway
Enterprise AI Market	applications for Artificial Intelligence (AI)	Towards Profitability Through Strategic
	Driving Enterprise AI Transformation	and Organic Opportunities

Critical Enterprise Solutions	Founder-Led Entrepreneurial Management	Attractive Financial Model and
with Growing, and Attractive,	Team with Extensive Experience in Building
High Gross Margins
Blue Chip Customer Base	"Data-Centric" Businesses

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

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Extensible AI Platform Accelerating Digital Transformation

Veritone's proven Enterprise AI platform, aiWARETM, is the foundation upon which Veritone has helped

customers and partners:

BUILD

AI-powered solutions and applications faster and cost- effectively

ACCELERATE

AI enterprise implementation and adoption, increasing operational efficiency

LEVERAGE

A vast ecosystem of proprietary and third-party

AI models with minimal integration costs

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.

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1. decade of leading the way

• Initial Public Offering on NASDAQ

• Veritone aiWARETM established

• Acquires Atigeo

• Acquires Machine Box; company exceeds 300 full-time employees
• aiWARE applications include IDentify, Redact and Attribute
• Acquires Performance Bridge Media
• Acquires Wazee Digital
• First $1M quarter for aiWARE
• Anaheim PD becomes first government agency to use aiWARE; launch first GovCloud (AWS) environment for U.S. government agency use

• • Launches GenAI; Veritone acquires Broadbean and forms Veritone Hire
• Veritone acquires PandoLogic

• Launches SPORTX; multi-lingualsynthetic voice offering becomes available

• USPTO issues

			three patents to
	ROI Media		Veritone
	becomes
	Veritone
	Media	•	aiWARE launched on
			Microsoft Azure
Series B financing			GovCloud
	•	aiWARE receives
complete,
		FedRAMP authorization
acquires ROI
•	Veritone CMS;
Media
•	Veritone Collection;
	• Veritone Admin; and
	•	Veritone Discovery launch

Copyright © 2024 Veritone, Inc. All rights reserved. Trademarks are the property of their respective owners.	10