Salesforce, Inc. · NYSE:CRM
Salesforce — Investor Day (October 2025)
79 slides from Salesforce's investor day presentation, Oct 15, 2025
Slide 1: Welcome to Investor Day at Dreamforce 2025
~ dreamforce Welcome to Investor Day aft Dreamforce 2025 Welcome and Introduction Mike Spencer Executive Vice President of Investor Relations
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Slide 3: Forward looking statements
Forward looking statements “Safe harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements about, among other things, trend analyses and statements regarding future financial performance and events, anticipated growth and indu
Slide 4: Agenda
1:00 PM - 1:05 PM Welcome 1:05 PM - 1:35 PM Vision for the Agentic Enterprise Steve Fisher 1:35 PM - 2:20 PM Delivering Customer Success in the Agentic Era + Customer Interviews Miguel Milano 2:20 PM - 3:00 PM The Lean Agentic Enterprise Robin Washington 3:00 PM - 4:00 PM Marc Closing Thoughts and Q
Slide 5: The Agentic Enterprise
© The Agentic Enterprise w @ Agentforce Agentforce 7 Bare arketngasor Industries Growth Investments Profitable Growth @ Financial Services Agentforce Agentforce Commerce Healthcare & © Lite Sciences AM Public Sector q Capturing the unprecedented . 4 Agentic Enterprise Do Growth Drivers opportunity 4
Slide 6: Vision for the Agentic Enterprise
Vision for the Agentic Enterprise S&S Steve Fisher
Slide 7: Dreamforce
> dreamforce & Thank you ~—
Slide 8: Product strategy evolution
Product strategy evolution — -
Slide 9: Agentforce is trusted by thousands of customers
Agentforce is trusted © , by thousands of customers INFORGE ay yPearson = LENNAR = @ nostic Spepsico SCA WILLIAMS-sonoma,inc. SEN WA THE ADECCO GROUP VOLKSWAGEN Adecco meconis LHH SOUP IN| NExO FISHER & PAYKEL @ lululemon PANDORA IBERIA Prine Pflege’ Wena “indeed reMarkable Say globoply Bi smartshee
Slide 10: Agentforce unites humans, agents, apps, and data
Agentforce 360 unites humans, agents, apps, & data Al alone is not enough In the flow of work Disconnected 4 from systems Stays accurate with context an User & sharing models No rules or 3 permissions Built-in governance Breaks trust Helps in any channel
Slide 11: The next generation of Data Cloud
The next generation of Data Cloud +) Data 360 Delivering trusted context to the Agentic Enterprise Deeply integrated into the Salesforce platform. Connect to any data with Zero Copy. Personalization for every customer. Context for every agent.
Slide 12: Agentforce Intelligent Platform
Agentforce Intelligent lel 360 Platfo rm agenttorce Voice GA October ’25 = on * oO me pi Aes ‘ -—& Reasoning Action Engine Agent Script Beta November '25
Slide 13: Agentforce orchestrates every app
Agentforce orchestrates every app Agentforce Sales Account Planning q Pilot now Sales Workspace Pilot now Prospecting + GA Feb ’26 Agenitforce Marketing Journey Decisioning GA now Adaptive Websites GA Dec ’25 Two-Way Email GA Feb ’26 + Agentforce Service Service Portals GA now Service Console GA now
Slide 14: Agentforce 360 Platform
@ 4 Agentforce Agentforce ; ~ Sales Marketing & SDR # Industries g en orce Agentforce Renita @ Financial Services Service Commerce ga, Healthcare & customers Life Sciences MM Public Sector Connect with your customers, Ks ste ; Q ey & be od Manufacturing employees, operations & Agentforce o Consumer
Slide 15: Welcome to the Agentic Enterprise
Welcome to the Agentiic Enterprise Where humans & agents drive customer success together Elevated employee Customer loyalty grows \2 Trust deepens Employees achieve more Operations run leaner 40% “a a of work at Fortune / e . 1000 companies will be elevated by Al by 2029 ins Decisions get smarter :
Slide 16: The Agentic Enterprise
© The Agentic Enterprise w @ Agentforce Ld Sales Agentforce Marketing sor = Agentforce Commerce Agentforce Data 360 Agentforce Tableau ro) & CRM Analytics & MuleSoft Anypoint MuleSoft Ue Agentforce Agent Fabric HR Service Operation® Agentforce Agentforce Revenue Management ThService @ .] ‘Agentforce
Slide 17: Customer Success in the Agentic Era
Customer Success in the Agentic Era S&S Miguel Milano CRO
Slide 18: Dreamforce
> dreamforce & Thank you ~—
Slide 19: We are investing in growth
We are investing in growth ES Foundational investments to capture the Agentic Enterprise opportunity o o Capturing the unprecedented Agentic Investing wisely to be Reimagining customer Enterprise opportunity ready for this opportunity success for the Agentic era Agentic Enterprise Playbook AE Capaci
Slide 20: Every company wants to become an Agentic Enterprise
Every company wants to become an Agentic Enterprise Al agents create new pathways to ) Growth » Productivi Organizations that roductivity proactively pursue these > opportunities become... Customer Success Oo ) Employee Empowerment E e ~~ oO <n An Agentic + Enterprise Brings a conversational UI to a
Slide 21: This is our Agentic Enterprise Playbook
This is our Agentic Enterprise Playbook Our new sales motion to win CEO hearts and minds eo = 4 ry ek Commercial Structure
Slide 22: We will develop an Agentic Enterprise POV for every industry
We will develop an Agentic Enterprise POV & for every industry Agentic Telecom Enterprise with 80+ AI Agents MAINTAIN, LEAVE or C pscover / JOIN-BUY JOIN-ONBOARD HELP CHANGE COLLABORATE © Concierge Agent * Solution Recommendation Agent © Billing Agent ‘© Solution Upgrade/ Competitive Insights * SDR
Slide 23: Pricing that meets the customer where they are
Pricing that meets the customer &> where they are New Editions New Buying Models 7 iti -as- . P Agentic Enterprise Seat-based editions Pay-as-you-go Pre-commit Flex Agreement license Agreement Unlimited Employee Flexibility for the The more you Allows customers to Unlimited access at a Agents with c
Slide 24: What is an AELA?
150+ Target Accounts in H2 What is an AELA? Predictable and flexible pricing that meets customers where they are Agentic Enterprise License Agreement Unlimited Consumption Unlimited Licenses (when required) ® DatalGloud User based SKU’s Org based SKU’s © Agentforce QB 100% of Employees a& Security C
Slide 25: We are investing in growth
We are investing in growth ES Foundational investments to capture the Agentic Enterprise opportunity Investing wisely to be ready for this opportunity AE Capacity
Slide 26: Resource allocation is a balancing act
Resource allocation is a balancing act; we have &®» been investing wisely to drive profitable growth Prioritize where you can deliver, Prioritize where there is growth Cost to with maximum impact and productivity book he. o | = ABILITY TO CAPTURE + - PRODUCTIVITY + + TAM / STRATEGIC GROWTH
Slide 27: We've grown sales capacity +20% YoY
We've grown sales capacity +20% YoY &> Illustrative Prioritize where you can deliver, Prioritize where there is growth with maximum impact and productivity + + SMB South Asia S) Commercial 7 Japan : g z b 8 = oO = & - le Markets @segments | e - ABILITY TO CAPTURE + - PRODUCTIVITY + fj @ Products | @
Slide 28: While ensuring a steady increase in AE productivity
~While ensuring a steady increase in > AE productivity | ® © Performance Culture Revamped Enablement Pricing & Packaging Rigorous performance Accelerating onboarding while Delivering high-value cross- management across the leveraging Agentforce, cloud editions at a premium organization reducing time
Slide 29: We have agentified our sales cycle
We have agentified our sales cycle S&S to drive productivity and growth a? Generate & Nurture + SDR Agent Leads + Sales Agent + Sales Coach Agent @® % Account Research ® Lead ® Lead Capture Nurture ® Sales Coach Phase 2 Work Deals + Sales Agent Sales Customer Competitive Exec Brief @ +: Phase 3 Supp
Slide 30: We are investing in growth
We are investing in growth ES Foundational investments to capture the Agentic Enterprise opportunity Reimagining customer success for the Agentic era NNAOV
Slide 31: Reimagining customer success to enable the Agentic Enterprise
Reimagining customer success to enable the &> Agentic Enterprise and accelerate NNAOV + + FDEs Embedded technical resources: hands-on specialists to accelerate Agentforce and Data Cloud consumption Customer feedback: Establishes a close feedback loop with Product to guide future Agentforce innovatio
Slide 32: Seeing bookings reaccelerate
Seeing bookings reaccelerate S&S Inflection in NNAOV growth happening now NNAOV = ACV - Attrition NNAOV growth FY23- 2 Bookings acceleration + FY25 slower than AOV attrition improvement = ©} growth NNAOV acceleration NNAOV YoY 1O% YOY - f------------2----2- eee Meee O% YOY -------oorn errr E - — — —
Slide 33: Welcome to the Agentic Enterprise
Welcome fo the Agentic Enterprise Humans with Agents drive customer success together PANDORA 3 PEPSICO Technologies “... ifs only a small beginning on one brand. We have many brands, as you know. We're looking forward to using different versions of this on our brands.” Laura Alber, President & CEO,
Slide 34: Welcome to the Agentic Enterprise
Welcome to the Agentic Enterprise Humans with Agents drive customer success together — —_— AI Spend Top pure play LLM providers have 3X spend with us over the last year
Slide 35: Only with Customer apps, Data and Agentforce
Only with Customer 360 apps, Data 360 and Agentforce 360 &S> can become an Agentic Enterprise Ageniforce use cases Digital Assistant Agent Support Assist Agent Field Service Assist Agent Inventory Agent ARR Sales Assist Agent SWOT Agent LinkedIn Agent ee centic
Slide 36: Finnair becomes an Agentic Enterprise
Only with Customer 360 apps, Data 360 and Agentforce 360 Fi INA, INA, [=] y | 2 can Finnair become an Agentic Enterprise Agentforce v FDE elevates customer Gi \ FAQ Agent experience with Agentforce ae Use pl Heels Secreto 9 Bi 9 oats Web Search Agent t. s Data Quality Agent “Sisu” Service Agent: ser
Slide 37: one.nz elevates customer experience with Agentforce
O one.nz elevates customer experience with Ageniforce Initial Use Cases Consumer “One Assistant”: self-serve plan reviews and changes; 300% improvement in results Enterprise “One Assistant”: FAQs, complaints, modify account details, customer insights Internal Employee Agent: knowledge, modify accoun
Slide 38: CaixaBank is an Agentic Enterprise
CaixaBank is an Agentic Enterprise Luis Javier Blas Agiieros
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Slide 40: Vivint is an Agentic Enterprise
vivint4 is an Agentic Enterprise SN Ryan Gee SVP of Engineering
Slide 41: Vivint
vivint®
Slide 42: Welcome to the Agentic Enterprise
Welcome to the Agentic Enterprise Humans with Agents drive customer success together FINNAIR JK CaixaBank vivint & Opportunity aa LLIAMS- SONOMA, INC. PANDORA @ pEPpsico
Slide 43: Capturing the unprecedented Agentic Enterprise opportunity
Capturing the unprecedented Agentic Enterprise opportunity Playbook and pricing structures to help customers become agentic enterprises wherever they are on their journey Investing wisely to be ready for this opportunity Prioritizing investments to maximize growth and productivity Reimagining custom
Slide 44: Delivering the Lean Agentic Enterprise
Delivering the Lean Agentic Enterprise & Robin Washington Ls = ay oat
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Slide 46: The Agentic Enterprise
© The Agentic Enterprise w @ Agentforce Agentforce 7 Bare arketngasor Industries Growth Investments Profitable Growth @ Financial Services Agentforce Agentforce Commerce Healthcare & © Lite Sciences AM Public Sector q Capturing the unprecedented . 4 Agentic Enterprise Do Growth Drivers opportunity 4
Slide 47: Seeing Bookings Reaccelerate
Seeing Bookings Reaccelerate SS Expect a gradual revenue inflection in 12-18 months, committed to profitable growth AOV and NNAOV Growth NNAOV growth FY23- 2 Bookings acceleration+ Revenue accelerates FY25 slower than AOV attrition improvement = when NNAOV growth > growth NNAOV acceleration AOV grow
Slide 48: Confident in Reaccelerating Growth
Confident in Reaccelerating Growth &> New growth drivers will fuel a reacceleration and a return to double-digit growth 260 B ns FY30 Revenue Target oo. Excluding Informatica “3 ag? 0 eS $41.3B | eo fe) &e 0 $37.9B | FY25 O ] 0% ep ‘ $34.9B | FY24 O $31.48 | FY23 O Organic $26.58 |FY22 O FY26-FY30 C
Slide 49: Delivering the Lean Agentic Enterprise
Delivering the Lean Agentic Enterprise Profitable Growth Framework Subs & Non-GAAP Support CC Operating Growth % Margin a © by FY30
Slide 50: Delivering the Lean Agentic Enterprise
Delivering the Lean Agentic Enterprise &> Continued focus on profitable growth a © s : Responsible Growth Drivers 9 fe ing Capital Allocation Trust + Customer Success <> Innovation <> Equality <> Sustainability
Slide 51: Growth Drivers in the Agentic Era
we Growth Drivers in the Agentic Era
Slide 52: Massive Agentic Growth Opportunity
Massive Agentic Growth Opportunity S&S Well positioned to lead the Agentic Revolution 708) IDC Al IT Apps & Platform Spend! $628B ‘i al i; | er IDC, Werlawide Artic Inteligence IT Spending Forecast, 2025-2029, Aug 2025. FY26 represent calendar 2025, FY27 represents clendor 2026, FY28 represents cale
Slide 53: Growth
Growth 360 SS 2 @ Agentforce __Agenttforce ; ¢ Sales Marketing & SDR J Industries @ Financial Services Growth 360 Agentforce Service Agentforce Commerce ¢ Healthcare & Life Sciences stom cu ers AM Public Sector ste . . “& Ww 4@ Manutacturing Multi-Cloud Agentforce Slack & m2 Consumer Goods Data 360
Slide 54: Organic Innovation Across the Platform
Organic Innovation Across the Platform Partner Cloud }- ‘eg =F IT Service Scheduling re > Guided B2C im 6. + Marketing Cloud Next ~ Search & Channels organic R&D spend FY24 - FY26 YTD 10%+ Organic Revenue FY26-FY30 CAGR Ageniforce 360 S)
Slide 55: Data + AI Innovation Driving Growth
Data + Al Innovation Driving Growth Momentum expected to continue Including $1.2B+ 34. — Agentic Al ARR Data 360 + Al ARR az 26 Agentforce aries exp ~*... +400% Y/Y ? Agentforce 120% Y/Y = Sea
Slide 56: Accelerating the Consumption Flywheel
Accelerating the Consumption Flywheel & Our deeply unified platform drives workflow & data gravity Usage ramps as business processes become agentic Answering Questions Take Action Be Proactive ...and use cases expand across the Customer 360 Agentic Enterprise”
Slide 57: Accelerating the Consumption Flywheel
Accelerating the Consumption Flywheel Our deeply unified platform drives workflow & data gravity . 2 Usage ramps as business processes become agentic Answering Questions Take Action Consumption Flywheel Be Proactive ...and use cases expand across the Customer 360 Agentic Enterprise”
Slide 58: Monetization of the Agentic Enterprise
Monetization of the Agentic Enterprise & Significant ARR expansion when customers adopt the Agentic Enterprise Averages 3 clouds, primarily on mid-tier editions Expands to additional clouds, adopts Industries <r ARR uplift Adopts Agentforce in Support and core expansion, with some seat optimization
Slide 59: Early Adopters are Becoming Agentic
Early Adopters are Becoming Agentic Consumer goods customer leading with Agentforce 1.5x ARR Expansion poner iii Agentience : a @ ®@ Adopted ai: Al Agentforce > FY26 YTD Data graphed represents actual ARR “annual recurring revenue” for each fiscal quarter FY21 through 8/1/25.
Slide 60: Early Adopters are Becoming Agentic
Early Adopters are Becoming Agentic es Telecom customer leading with Data Cloud ARR Expansion ) Adopted Agentforce -——————._ ARR ——————+ > FY26 YTD Data graphed represents actual ARR “annual recurring revenue” for each fiscal quarter FY24 through 8/1/25.
Slide 61: Early Adopters are Becoming Agentic
Early Adopters are Becoming Agentic es Consumer electronics customer leading with AI + DATA ARR Expansion 4 RB © @ Adopted Agentforce > FY26 YTD Data graphed represents actual ARR “annual recurring revenue” for each fiscal quarter FY24 through 8/1/25.
Slide 62: Growth Fuels Reacceleration
Growth 360 Fuels Reacceleration S> Reacceleration to 10%+ Revenue CAGR FY26-FY30 °60B+ FY30 Revenue Target Excluding Informatica Growth 360 zs Multi-Cloud Pricing & Packaging $41.3B | FY26 Guidance Payee @ Balanced Portfolio $ ple . 34.98 | FY24 -Q- Innovation 6 $31.4B | FY23 i $26.5B | FY22 $21.38
Slide 63: Operational Excellence
© Operational Excellence
Slide 64: Profitable Growth in Action
Profitable Growth in Action Continued to drive profitable growth while investing in innovation Operating Margin Expansion Lean Agentic Principles | nee Investing in high growth areas, & é po rebalancing headcount across I the business = a Ruthlessly prioritizing, driving fe) On track to discipline &
Slide 65: Lean Agentic Enterprise Playbook
Lean Agentic Enterprise Playbook Robust opportunity to drive efficiency across the company Productivity Automation Organize by Al efficiency buyer & segment Customer Zero
Slide 66: Leading as Customer Zero
Leading as Customer Zero Critical to operating as a lean agentic enterprise S&M COGS/R&D G&A Growth Scale Efficiency SDR Agent Salesforce Help Agent Techforce Agent 80K+ leads engaged 1.8M+ conversations 40% IT resolution Website Agent Procurement Agent 250K+ conversations Engineering Agent 80% defl
Slide 67: Customer Zero as the Agentic Enterprise
Customer Zero as the Agentic Enterprise & Enabling a rebalancing of resources and reinvestment in key growth areas We improve the Employee Experience Employee Streamlines employee knowledge access, routine tasks Techforce Issue support for IT Service requests HR Support Case resolution Manager Provi
Slide 68: Responsible Capital Allocation
Responsible Capital Allocation
Slide 69: Profitable Growth drives Cash Flow
Profitable Growth drives Cash Flow Significant cash flow to fuel responsible capital allocation strategy Free Cash Flow Expansion i On track to more than triple free cash flow in five years Capital Allocation Framework Organic Innovation Inorganic innovation within our responsible M&A framework Robu
Slide 70: Delivering Robust Capital Return
Delivering Robust Capital Return &> Diluted share count declining (1%) y/y on average since buyback program Expect an approx. 50% 81% of FCF step-up in repurchases in 2H’26 vs 1H’26 Total Capital Returns since inception (hetual trough sept 2025) of — Diluted Share Count 80%+ of FCF Dividends I Share
Slide 71: M&A Strategy Supports Innovation
M&A Strategy Supports Innovation & Recent focus on Data and AI accelerators Tech & Talent Adjacencies Strategic Complementary a . Rationale IP& Talent to augment products that accelerate pees scaled offerings innovation product roadmap ‘or customer success Financial Future product and Modest tailwin
Slide 72: Responsible M&A in Action
Responsible M&A in Action Accelerates Salesforce product differentiation strategy Customer Success & Best-in-class product with extensive ecosystem Strategic Fit Represents an attractive customer opportunity Strong ability to increase monetization Acceleration Cultural and organizational alignment O
Slide 73: Delivering the Profitable Growth Framework
Delivering the Profitable growth framework ca Growth Drivers FY30 Revenue $60B+ 10%+ CAGR FY26-FY30 Excluding Informatica © Operational Excellence Profitable Growth Framework 50 by FY30 Subs & Support Revenue CC Growth + Non-GAAP Operating Margin Capital Allocation Continued Free Cash Flow Expansion
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Slide 75: Closing thoughts
Closing thoughts Mare Benioff CEO
Slide 76: Q&A
Q&A & Marc Benioff Robin Washington Miguel Milano Steve Fisher Srini Tallapragada Parker Harris Chair and Chief Operating and Chief Revenue Chief Product Chief Executive Co-founder and CEO Financial Officer Officer Officer Engineering and Slack CTO Customer Success Officer
Slide 77: Appendix
dreamforce + Appendix . ‘,
Slide 78: Non-GAAP Financial Measures
Non-GAAP Financial Measures &S> This presentation includes information about non-GAAP operating margin, free cash flow, and constant currency revenue growth rates (collectively the “non-GAAP financial measures”). These non-GAAP financial measures are measurements of financial performance that are no
Slide 79: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation (in millions) Non-GAAP income from operations FY24 FY25 Full Year F¥26 GAAP income from operations $5,011 $7,205 GAAP Operating Margin 21.2% Plus: Plus: Amortization of purchased intangibles $1,869 $1,651 Amortization of purchased intangibles 3.7% Stock-base