Q1 FY26 Financial Highlights & Guidance Workday

Q1 FY26 Financial Highlights & Guidance Workday

• 1. Investor Presentation Q1 FY26

• 2. Safe Harbor Statement This presentation may contain forward-looking statements for which there are risks, uncertainties, and assumptions. Forward-looking statements may include any statements regarding strategies or plans for future operations; any statements concerning new features, enhancements or upgrades to our existing applications or plans for future applications; any projections of revenues, gross margins, earnings, or other financial items; and any statements of expectation or belief. Forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements, and therefore you should not rely on any forward-looking statements that we may make. Further information on risks that could affect Workday’s results is included in our filings with the Securities and Exchange Commission which are available on the Workday investor relations webpage: investor.workday.com. Workday assumes no obligation for, and does not intend to update, any forward-looking statements, except as required by law. Any unreleased services, features, functionality or enhancements referenced in any Workday document, roadmap, blog, our website, press release or public statement that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

• 3. In addition to financial results presented in accordance with US generally accepted accounting principles (GAAP), this presentation includes certain non-GAAP financial measures of performance. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP, and may be different from nonGAAP financial measures used by other companies. In addition, these non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Workday’s results of operations or cash flows as determined in accordance with GAAP. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are contained in the Appendix to this presentation. The Company has not provided a reconciliation of its forward outlook for non-GAAP operating margin with its forward-looking GAAP operating margin in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company is unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate this nonGAAP financial measure, particularly related to stock-based compensation and its related tax effects, acquisition-related costs, and restructuring costs. Use of Non-GAAP Measures

• 4. Workday at a Glance Workday at a Glance

• 5. $160B Market Opportunity1 $7.961B 15.5% YoY Growth Trailing Twelve Month Subscription Revenues2 Leading AI Platform For Finance, HR, Planning, Spend Management and Analytics 11,000+ Global Customers Operating across 175+ Countries Serving 60%+ of the Fortune 500 Including 70%+ of the top 50 Fortune 500 companies 70M+ Users Under Contract Generating more than 1 trillion transactions annually4 Workday by the Numbers $2.547B 29.3% Margin Trailing Twelve Month Operating Cash Flow2,3 ~19,300 Employees Worldwide5 Offices in 30+ Countries 1 TAM estimates based on Workday and third-party data as of 9.17.2024 2 For the trailing twelve months ended 4.30.2025 3 Reconciliations of GAAP to Non-GAAP financial data included in the Appendix 4 Reflects transaction volume as of fiscal 2025 5 As of 5.19.2025. Reflects the restructuring plan announced on 2.5.2025, which reduced our workforce by approximately 7.5% $2.349B 27.0% Margin Trailing Twelve Month Non-GAAP Operating Income2,3

• 6. Core Technology Security Resiliency Business Process Data Model The Workday Product Portfolio AI Agents Agent Gateway Agent System of Record HR Finance Planning • Industry Solutions • Analytics Experience Natural Language Interactions Unified Experience Mobile Partner Integrations Extensibility and Interoperability Workday Extend Workday Integration Cloud The Workday Platform Workday Services Customer’s Industry Ecosystem Enterprise LLMs Workday Marketplace Intelligent Data Core

• 7. 98% Driving Profitable Growth at Scale Annual Subscription Revenues Non-GAAP Operating Margin $4.546B FY22 22.9% FY221 28.5% FY26E2 18% CAGR Gross Revenue Retention3 560 bps $8.800B FY26E2 1 Reconciliations of GAAP to Non-GAAP financial data included in the Appendix 2 FY26 subscription revenue and Non-GAAP operating margin guidance as provided on 5.22.2025 3 Refer to Appendix - Other Business Metrics for further details Note: Lines not drawn to scale

• 8. While Growing Responsibly Putting People First Protecting the Planet Net-Zero Carbon Footprint Achieved net-zero carbon emissions1 every year since fiscal 2021 and continued matching 100% of the electricity we use at our offices and data centers globally with clean, renewable sources Commitment to 1.5ºC Science-based targets across all three scopes of emissions For More Information: Sustainability and Reporting with Workday Download our 2024 Global Impact Report Acting with Integrity Delivering Responsible AI Developing trustworthy AI solutions to drive meaningful business results Driving Policy Change Working to advance policies that support the development of responsible AI and a skills-based approach to talent Data Privacy and Security Industry-leading privacy and security practices, designed to safeguard our customers' data 1 All references to “net-zero” encompass Workday emissions from offices, data centers and public cloud, and business travel. Skills Based Organization Investing in employee growth and development by putting skills at the center of our talent strategy VIBE Value Inclusion, Belonging, and Equity for All by leveraging the unique skills of our people to ignite innovation and build tomorrow's solutions Investing in Talent and Training To help ensure we attract, recruit, hire, and advance employees of all backgrounds

• 9. Financial Highlights and Guidance

• 10. Q1 FY26 Financial Highlights 1 Reconciliations of GAAP to Non-GAAP financial data included in the Appendix Q1 FY26 Results Increase (Decrease) YoY Total Revenues $2.240B 12.6% Subscription Revenues $2.059B 13.4% Total Subscription Revenue Backlog $24.62B 19.1% 12-month Subscription Revenue Backlog $7.63B 15.6% GAAP Operating Margin 1.8% (144) bps Non-GAAP Operating Margin1 30.2% 437 bps Operating Cash Flows $457M 23.0% Free Cash Flows1 $421M 44.6%

• 11. Q1 FY26 Customer Wins and Expansions

• 12. Q1 FY26 Business Highlights • Workday introduced new Illuminate Agents to accelerate hiring, enhance frontline worker experiences, simplify financial processes, and improve employee information access. • Evisort’s AI-powered contract intelligence and contract lifecycle management solutions became available through Workday. • Workday welcomed new customers including Dover Corporation, Mutual of Omaha Insurance Company, and United Airlines, and expanded existing relationships with ASDA stores, Chipotle, CVS Health, and Decathlon. • Workday was named a Leader in the 2025 Gartner® Magic Quadrant for Higher Education Student Information System Software as a Service1 and Talent Acquisition (Recruiting) Suites.2 • Workday was recognized as one of the 2025 World’s Most Ethical Companies® by Ethisphere for the fifth consecutive year. • Workday saw notable industry growth in Q1, with the technology & media and manufacturing verticals each crossing $1 billion in annual recurring revenue. • Workday continued its international expansion by going live on the AWS U.K. public cloud and announcing a new location for its EMEA headquarters in Dublin. • Workday announced that its Board of Directors approved a new share repurchase program to repurchase up to an additional $1.0 billion of shares of its Class A common stock. 1 2025 Gartner® Magic Quadrant for Higher Education Student Information System Software as a Service. By Grace Farrell, Robert Yanckello, 24 March 2025. 2 2025 Gartner® Magic Quadrant for Talent Acquisition (Recruiting) Suites. By Rania Stewart, Jackie Watrous, Hiten Sheth, Emi Chiba, 2 April 2025.

• 13. Guidance Summary As provided on Q1 FY26 Earnings Call on 5.22.2025 Q2 FY26 Quarterly Guidance Increase (Decrease) YoY Total Revenues $2.340B 12% Subscription Revenues $2.160B 13% 12-month Subscription Revenue Backlog n/a 15% - 16% Non-GAAP Operating Margin 28% 314 bps GAAP Operating Margin ~20 points lower than non-GAAP n/a Full Year FY26 Full Year Guidance Increase (Decrease) YoY Total Revenues $9.500B 12% Subscription Revenues $8.800B 14% Non-GAAP Operating Margin 28.5% 262 bps GAAP Operating Margin ~21 points lower than non-GAAP n/a Non-GAAP Tax Rate 19% n/a Operating Cash Flows $2.750B 12% Capital Expenditures $250M (7)%

• 14. Appendix

• 15. (in millions, except percentages and per share data) Three Months Ended April 30, 2025 2024 Non-GAAP operating income Operating income (loss) $ 39 $ 64 Share-based compensation expense(1) 417 385 Employer payroll tax-related items on employee stock transactions(1) 27 38 Amortization of acquisition-related intangible assets 21 17 Acquisition-related costs 7 3 Restructuring costs(2) 166 8 Non-GAAP operating income $ 677 $ 515 Non-GAAP operating margin(3) Operating margin 1.8 % 3.2 Share-based compensation expense(1) 18.6 % 19.3 Employer payroll tax-related items on employee stock transactions (1) 1.2 % 1.9 Amortization of acquisition-related intangible assets 0.9 % 0.9 Acquisition-related costs 0.3 % 0.2 Restructuring costs(2) 7.4 % 0.4 Non-GAAP operating margin 30.2 % 25.9 Reconciliations of GAAP to Non-GAAP Data

• 16. (in millions, except percentages and per share data) Three Months Ended April 30, 2025 2024 Non-GAAP diluted net income per share(3)(4) Diluted net income per share $ 0.25 $ 0.40 Share-based compensation expense(1) 1.54 1.42 Employer payroll tax-related items on employee stock transactions(1) 0.10 0.14 Amortization of acquisition-related intangible assets 0.08 0.06 Acquisition-related costs 0.02 0.01 Restructuring costs(2) 0.61 0.03 Losses (gains) on strategic investments, net 0.00 0.03 Income tax effects (0.37) (0.35) Non-GAAP diluted net income per share $ 2.23 $ 1.74 Reconciliations of GAAP to Non-GAAP Data (cont’d) 1 The Share-based compensation expense and Employer payroll tax-related items on employee stock transactions lines in the GAAP to non-GAAP reconciliation tables above exclude $42 million and $2 million, respectively, related to restructuring initiatives for the three months ended April 30, 2025. These expenses are included in the Restructuring costs lines. 2 In February 2025, Workday announced a restructuring plan (“Fiscal 2026 Restructuring Plan”) intended to prioritize its investments and continue advancing Workday’s ongoing focus on durable growth. The plan reduced Workday’s workforce by approximately 7.5%. In connection with the plan, Workday has exited certain owned office space. During the three months ended April 30, 2025, Workday recorded expenses of $132 million for employee transition, severance payments, employee benefits, and share-based compensation expense, and $34 million related to an impairment of office space under the Fiscal 2026 Restructuring Plan. During the three months ended April 30, 2024, Workday recorded exit charges of $8 million associated with office space reductions under a separate restructuring plan. 3 Operating margin and diluted net income per share are calculated using unrounded data. 4 For the three months ended April 30, 2025, GAAP and non-GAAP diluted net income per share were calculated based upon 270,296 diluted weighted-average shares of common stock. For the three months ended April 30, 2024, GAAP and non-GAAP diluted net income per share were calculated based upon 270,298 diluted weighted-average shares of common stock.

• 17. (in millions, except percentages and per share data) Year Ended January 31, 2022 Non-GAAP operating margin(1) Operating margin (2.3) % Share-based compensation expense 21.6 % Employer payroll tax-related items on employee stock transactions 1.5 % Amortization of acquisition-related intangible assets 1.5 % Acquisition-related costs 0.6 % Non-GAAP operating margin 22.9 % 1 Operating margin is calculated based upon the respective underlying, non-rounded data. Reconciliations of GAAP to Non-GAAP Data

• 18. (in millions) Three Months Ended April 30, 2025 2024 Net cash provided by operating activities $ 457 $ 372 Less: Capital expenditures (36) (81) Free cash flows $ 421 $ 291 Reconciliations of GAAP to Non-GAAP Data Cash from Operations to Free Cash Flows

• 19. Supplemental Financial Information (in millions) Three Months Ended April 30, 2025 2024 Share-based compensation expense(1) Costs and expenses: Costs of subscription services $ 42 $ 38 Costs of professional services 30 31 Product development 183 173 Sales and marketing 92 72 General and administrative 70 71 Restructuring 0 0 Total share-based compensation expense $ 417 $ 385 Employer payroll tax-related items on employee stock transactions Costs and expenses: Costs of subscription services $ 3 $ 3 Costs of professional services 3 5 Product development 12 18 Sales and marketing 6 8 General and administrative 3 4 Restructuring 0 0 Total employer payroll tax-related items on employee stock transactions $ 27 $ 38 Amortization of acquisition-related intangible assets Costs and expenses: Costs of subscription services $ 12 $ 9 Costs of professional services 0 0 Product development 0 0 Sales and marketing 9 8 General and administrative 0 0 Restructuring 0 0 Total amortization of acquisition-related intangible assets $ 21 $ 17

• 20. Supplemental Financial Information (cont’d) (in millions) Three Months Ended April 30, 2025 2024 Acquisition-related costs Costs and expenses: Costs of subscription services $ 0 $ 0 Costs of professional services 0 0 Product development 3 1 Sales and marketing 1 0 General and administrative 3 2 Restructuring 0 0 Total acquisition-related costs $ 7 $ 3 Restructuring costs Costs and expenses: Costs of subscription services $ 0 $ 0 Costs of professional services 0 0 Product development 0 0 Sales and marketing 0 0 General and administrative 0 0 Restructuring 166 8 Total restructuring costs $ 166 $ 8 1 Share-based compensation expense and Employer payroll tax-related items on employee stock transactions lines in the Supplemental Financial Information table above exclude $42 million and $2 million, respectively, related to restructuring initiatives for the three months ended April 30, 2025. These expenses are included in Restructuring costs.

• 21. To provide investors and others with additional information regarding Workday’s results, the following non-GAAP financial measures are disclosed: non-GAAP operating income, non-GAAP operating margin, non-GAAP diluted net income per share, and free cash flows. Workday has provided a reconciliation of each non-GAAP financial measure used in this presentation to the most directly comparable GAAP financial measure. Non-GAAP operating income and non-GAAP operating margin differ from GAAP in that they exclude sharebased compensation expense, employer payroll tax-related items on employee stock transactions, amortization expense for acquisition-related intangible assets, acquisition-related costs, and restructuring costs. Non-GAAP diluted net income per share differs from GAAP in that it excludes share-based compensation expense, employer payroll tax-related items on employee stock transactions, amortization expense for acquisition-related intangible assets, acquisition-related costs, restructuring costs, gains and losses on strategic investments, and income tax effects. Free cash flows differ from GAAP cash flows from operating activities in that it treats capital expenditures as a reduction to cash flows. Workday’s management uses these non-GAAP financial measures to understand and compare operating results across accounting periods, for internal budgeting and forecasting purposes, for short- and long-term operating plans, and to evaluate Workday’s financial performance. Management believes these non-GAAP financial measures reflect Workday’s ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in Workday’s business. Management also believes that these nonGAAP financial measures provide useful information to investors and others in understanding and evaluating Workday’s operating results and prospects in the same manner as management and in comparing financial results across accounting periods and to those of peer companies. Management believes excluding the following items from the GAAP Condensed Consolidated Statements of Operations is useful to investors and others in assessing Workday’s operating performance due to the following factors: • Share-based compensation expense. Share-based compensation primarily consists of non-cash expenses for employee restricted stock units and our employee stock purchase plan. Although share-based compensation is an important aspect of the compensation of our employees and executives, this expense is determined using a number of factors, including our stock price, volatility, and forfeiture rates, that are beyond our control and generally unrelated to operational decisions and performance in any particular period. Further, share-based compensation expense is not reflective of the value ultimately received by the grant recipients. • Employer payroll tax-related items on employee stock transactions. We exclude the employer payroll tax-related items on employee stock transactions in order to show the full effect that excluding share-based compensation expense has on our operating results. Similar to share-based compensation expense, this tax expense is dependent on our stock price and other factors that are beyond our control and do not correlate to the operation of our business. About Non-GAAP Financial Measures

• 22. • Amortization of acquisition-related intangible assets. For business combinations, we generally allocate a portion of the purchase price to intangible assets. The amount of the allocation is based on estimates and assumptions made by management and is subject to amortization. The amount of purchase price allocated to intangible assets and the term of the related amortization can vary significantly and are unique to each acquisition and thus we do not believe this activity is reflective of our ongoing operations. Although we exclude the amortization of acquisition-related intangible assets from these non-GAAP financial measures, we believe that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. • Acquisition-related costs. Acquisition-related costs include direct transaction costs, such as due diligence and advisory fees, and certain compensation and integrationrelated expenses. We exclude the effects of acquisition-related costs as we believe these transaction-specific expenses are inconsistent in amount and frequency and do not correlate to the operation of our business. • Restructuring costs. Restructuring costs are associated with a formal restructuring plan and are primarily related to workforce reductions, the closure of facilities, and other exit and disposal activities. We exclude these expenses because they are not reflective of ongoing business and operating results. • Gains and losses on strategic investments. Our strategic investments include investments in early stage companies that are valuable to Workday customers and complementary to Workday products. Gains and losses on strategic investments may result from observable price adjustments and impairment charges on non-marketable equity securities, ongoing mark-to-market adjustments on marketable equity securities, and the sale of equity investments. We do not rely on these securities to fund our ongoing operations nor do we actively trade publicly held securities, and therefore we do not consider the gains and losses on these strategic investments to be reflective of our ongoing operations. • Income tax effects. We utilize a fixed long-term projected tax rate in our computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. In projecting this long-term non-GAAP tax rate, we utilize a three year financial projection that excludes the direct impact of the items excluded from GAAP income in calculating our non-GAAP income. The projected rate considers other factors such as our current operating structure, existing tax positions in various jurisdictions, and key legislation in major jurisdictions where we operate. For fiscal 2026 and 2025, we determined the projected non-GAAP tax rate to be 19%, which reflects currently available information, as well as other factors and assumptions. We will periodically re-evaluate this tax rate, as necessary, for significant events, relevant tax law changes, material changes in the forecasted geographic earnings mix, and any significant acquisitions. Additionally, with regards to free cash flows, Workday’s management believes that reducing cash provided by operating activities by capital expenditures is meaningful to investors and others because it provides an enhanced view of cash flow generation from the ongoing operations of our business, and it balances operating results, cash management, and capital efficiency. The use of these non-GAAP measures have certain limitations as they do not reflect all items of expense or cash that affect Workday’s operations. Workday compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable GAAP financial measures. These non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, measures prepared in accordance with GAAP. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore comparability may be limited. Management encourages investors and others to review Workday’s financial information in its entirety and not rely on a single financial measure. About Non-GAAP Financial Measures (cont’d)

• 23. Gross Revenue Retention Rate Gross revenue retention rate measures the percentage of recurring revenue retained from existing customers and is calculated by taking total annual recurring revenue (“ARR”) of our customers as of the corresponding prior period-end and comparing that to ARR from that same set of customers as of the current period-end. The metric takes into account recurring revenues lost to product or customer churn but does not account for additional revenue earned from add-ons or net expansions, which include volume and price adjustments. Our gross revenue retention rate is based on ARR, which represents the annualized value of active subscription contracts as of the end of each period. Each subscription contract is annualized by dividing the total contract value by the number of days in the contract term and then multiplying by 365. We exclude certain subscription contracts from the calculation, including contracts with terms less than one year that are distinct from our core product offering, such as contracts for tenants which are used for implementation and testing. To the extent that we are negotiating a renewal with a customer after the expiration of the subscription, ARR is only adjusted if the customer churns. We calculate ARR on a constant currency basis using exchange rates set at the beginning of each fiscal year. ARR is a non-GAAP financial measure and should be viewed independently of, and not as a substitute for or combined with, revenue and unearned revenue. Other Business Metrics