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Marketo Investor Update May 2016

© Copyright 2016. Marketo, Inc. All rights reserved. 2

Safe Harbor This presentation contains forward-looking statements. These forward-looking statements include general statements about our opportunities for growth, our achievement of long-term objectives and specific statements about our GAAP and non-GAAP financial targets. The achievement or success of the matters covered by such forward-looking statements involves risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, the company’s results could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties that could cause actual results to differ from the results predicted include, but are not limited to, risks associated with: possible fluctuations in the company’s financial and operating results; the company’s rate of growth and anticipated revenue run rate, including the company’s ability to convert deferred revenue and unbilled deferred revenue into revenue and, as appropriate, cash flow, and the continued growth and ability to maintain deferred revenue and unbilled deferred revenue; errors, interruptions or delays in the company’s service or the company’s Web hosting; the company’s ability to maintain and expand its customer base; breaches of the company’s security measures; privacy concerns of the company’s customers; the financial impact of any previous and future acquisitions; the nature of the company’s business model; the company’s ability to continue to release, and gain customer acceptance of, new and improved versions of the company’s service; successful customer deployment and utilization of the company’s existing and future services; changes in the company’s sales cycle; competition; relationships with platform and service providers; various financial aspects of the company’s subscription model; unexpected increases in attrition or decreases in new business; the markets in which the company operates, including emerging and other international markets; unique aspects of entering or expanding in international markets, the company’s ability to hire, retain, train and motivate employees, to ramp our sales team and to manage the company’s growth; changes in the company’s customer base; technological developments; regulatory developments; litigation related to intellectual property and other matters, and any related claims, negotiations and settlements; unanticipated changes in the company’s effective tax rate; fluctuations in the number of shares we have outstanding and the price of such shares; foreign currency exchange rates; collection of receivables; interest rates; factors affecting our deferred tax assets and ability to value and utilize them; the risks and expenses associated with the company’s real estate and office facilities space; and general developments in the economy, financial markets, and credit markets. Further information about factors that could affect the company’s financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings the company makes with the Securities and Exchange Commission from time to time.

Marketo assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

$150M 56% YoY

$32.3 $36.0

$39.3 $42.3

$19.7

$22.5

$25.5

$28.2

$95.9M 64% YoY

$12.2

$13.9 $15.4

$16.8

$58.4M 80% YoY

Rapid Growth and Momentum

2013 2012 2014 2015

Rev

enu

e (M

illio

ns)

$50.7

$46.0

$210M 40% YoY

$54.9

$58.3

35% YoY

(YTD) $62.2

2016

4,615 Customers (As of 3/31/2016)

Marketo Engagement Marketing Solution

Marketing First

Most Complete Ecosystem

Most Innovative Platform

Deepest Expertise

Unique mix of speed and sophistication

Convergence of B2C & B2B best

practices Hundreds of partners across 20+ categories

CUSTOMER

Engage people in a meaningful, enduring and personalized way across channels

Measure and maximize impact of marketing investments

Generate awareness and ensure potential customers can find you

Plan, manage and coordinate marketing activities across your teams

Marketing Calendar

• Unified planning & execution

• Specialized views for team members

• Real-time campaign coordination

• Content Marketing • SEO / SEM • Social Campaigns • Landing Pages

• Nurturing and Scoring • Email Marketing • Marketing Automation • Event Marketing • Productive Prospecting

• Return on Marketing Investment • Cross-campaign Allocation • Opportunity Analysis • Revenue Attribution

Marketo Engagement Marketing Solution

Engagement Marketing Platform & Applications Applications

Audience Hub customer interaction system of record

Applications 12 categories including LaunchPoint

© Copyright 2016. Marketo, Inc. All rights reserved.

Email Marketing

Lead Management

Consumer Marketing

Customer Base Marketing

Mobile Marketing

Engagement Marketing Solutions

Email Marketing: Build long term customer relationships with meaningful conversations at scale.

Lead Management: Attract the right buyers, nurture them, and deliver win-ready leads to sales.

Consumer Marketing: Grow lifetime value by engaging consumers seamlessly across channels.

Customer Base Marketing: Create engagement across channels to deepen customer relationships over time.

Mobile Marketing: Weave mobile experiences into campaigns for deeper customer relationships.

7

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Multiple Growth Opportunities

Scale direct sales

Expand agency & OEM partners

Broaden referral network

Expand geographies

New Customer Velocity

Grow Existing Customers

Expand usage rights

Cross-sell new applications

Division to enterprise expansion

Enter New Markets

Additional CRM ecosystems

Vertical industries

Pursue selective acquisitions

Broad B2C markets

Marketo’s Customers Across Industries Life Sciences & Healthcare

Manufacturing & Energy Software & Cloud Business Services

Financial Services Communications & Infrastructure Media & Consumer Education

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Phil Fernandez Chairman & CEO

An Experienced Team Built for Scale

Sanjay Dholakia Chief Marketing Officer

Frederick Ball EVP, Chief Administrative Officer

Jason Holmes EVP, Chief Operating Officer

Nick Bonfiglio SVP, Product Development

Margo Smith SVP, Legal Affairs & General Counsel

Steve Winter EVP, Worldwide Field Operations

Brian Kinion Chief Financial Officer

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Predictable SaaS Subscription Model

Average Contract Length: > 1 year (Ranges from one year to three years)

Billing Frequency (Quarterly and annual)

Subscription and Support Pricing (Usage based: names in database, number of seats)

High Subscription Dollar Retention Rate (Averages 105% for the last year)

Professional Services (Expert services to educate and assist in implementation)

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Revenue Measures

SMB / Enterprise Subscription Mix International Contribution

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

$0

$10

$20

$30

$40

$50

$60

In M

illio

ns

SMB Enterprise

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Investing for Growth

% of Revenue

Note: Financials are non-GAAP and exclude stock-based compensation and amortization of acquired intangible assets. See Appendix for GAAP to Non-GAAP reconciliation of historical Operating Expenses.

% of Revenue % of Revenue

$0

$10

$20

$30

2012 2013 2014 2015 Q1 '16

R&D

0%

20%

40%

60%

80%

100%

2012 2013 2014 2015 Q1 '16

R&D

$0

$50

$100

$150

2012 2013 2014 2015 Q1 '16

S&M

0%

20%

40%

60%

80%

100%

2012 2013 2014 2015 Q1 '16

S&M

$0

$10

$20

$30

2012 2013 2014 2015 Q1 '16

G&A

0%

20%

40%

60%

80%

100%

2012 2013 2014 2015 Q1 '16

G&A

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Long Term Model ACTUAL

TARGET MODEL 2013 2014 2015 Q1 2016

Gross Margin 62% 70% 70% 69% 75% - 80%

% of revenue

R&D 22% 17% 15% 15% 12% - 15%

S&M 63% 60% 55% 54% 35% - 40%

G&A 15% 12% 12% 12% 7% - 10%

Income (Loss) from Operations

(38)% (19)% (13%) (12%) 20%

Note: Financials are non-GAAP and exclude stock-based compensation, amortization of acquired intangible assets, litigation settlement and integration costs. See Appendix for GAAP to Non-GAAP reconciliations of historical financial results. Targets reflect long-term goals.

© Copyright 2016. Marketo, Inc. All rights reserved.

Marketo Investor Update Appendix

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GAAP To Non-GAAP Reconciliation

$ '000's

% of

Revenues $ '000's

% of

Revenues $ '000's

% of

Revenues $ '000's

% of

Revenues $ '000's

% of

Revenues

Cost of revenue:

GAAP Subscription and support 16,216 28% 24,681 26% 28,742 19% 40,632 19% 12,310 20%

Stock-based compensation (216) 0% (496) -1% (1,626) -1% (2,691) -1% (762) -1%

Amortization of acquired intangible assets - 0% (267) 0% (1,156) -1% (1,508) -1% (377) -1%

Non-GAAP subscription and support 16,000 27% 23,918 25% 25,960 17% 36,433 17% 11,171 18%

GAAP Professional services and other 8,442 14% 13,298 14% 22,059 15% 31,484 15% 9,068 15%

Stock-based compensation (169) 0% (690) -1% (2,363) -2% (4,320) -2% (1,212) -2%

Amortization of acquired intangible assets - 0% - 0% - 0% - 0% - 0%

Non-GAAP professional services and other 8,273 14% 12,608 13% 19,696 13% 27,164 13% 7,856 13%

Operating expenses reconciliation:

GAAP Research and development 18,799 32% 23,321 24% 30,337 20% 39,077 19% 11,001 18%

Stock-based compensation (575) -1% (2,084) -2% (5,353) -4% (7,637) -4% (1,805) -3%

Amortization of acquired intangible assets (205) 0% - 0% (6) 0% (150) 0% (37) 0%

Non-GAAP research and development 18,019 31% 21,237 22% 24,978 17% 31,290 15% 9,159 15%

GAAP Sales and marketing 37,776 65% 62,769 65% 98,843 66% 129,072 62% 37,113 60%

Stock-based compensation (966) -2% (2,293) -2% (8,860) -6% (12,655) -6% (3,074) -5%

Amortization of acquired intangible assets (121) 0% (181) 0% (566) 0% (547) 0% (137) 0%

Non-GAAP sales and marketing 36,689 63% 60,295 63% 89,417 60% 115,870 55% 33,902 54%

GAAP General and administrative 11,388 19% 18,655 19% 25,583 17% 38,056 18% 10,872 17%

Stock-based compensation (1,046) -2% (2,512) -3% (6,918) -5% (11,879) -6% (3,147) -5%

Amortization of acquired intangible assets (71) 0% (103) 0% (184) 0% (183) 0% (46) 0%

Litigation settlement - 0% (950) -1% - 0% - 0% - 0%

Acquistion related costs - 0% (734) -1% (185) 0% - 0% - 0%

Non-GAAP general and administrative 10,271 18% 14,356 15% 18,296 12% 25,994 12% 7,679 12%

Q1 20162014

Year Ended December 31,

2012 2013 2015