Workiva : 2023 ESG Impact Report

1

ESG Impact Report

2023

Powering transparent reporting for a better world

Table of Contents

Letter from the CEO	3
About Workiva	4
By the numbers
Recognitions & partnerships
About this Report	6

Scope of reporting

Data collection and oversight

Assurance of selected data

Alignment to standards

Transparency of corrections or restatements of information

Our ESG Approach & Strategy

8

Strategy

2023 highlights & challenges narrative ESG materiality

Pulse check & new roadmap 2023 ESG targets & highlights

ESG Governance

13

Board responsibilities & ESG competence

ESG task force

ESG advisory council

Stakeholder engagement

Our value chain

Risk & Responsible Business Practices

18

ESG risks & opportunities

ESG risk management

Data security and privacy

Product responsibility (AI)

2

Innovation

21

Our platform & products-clean tech

Economic impact study

Customer impact stories

Innovation target

Environment

25

Environment targets

Travel policy & event offsets

Climate transition plan

Philanthropy

32

Philanthropy targets

Giving

Volunteering

Code.org

People

35

People targets

Diversity, equity, inclusion, & belonging

Talent optimization & pay equity

Benefits & wellbeing

Career development

Appendix	41
Disclaimers	43

3

Letter from the CEO

Dear Workiva Stakeholders:

Workiva is on a mission to power transparent reporting for a better world. Our mission is driven by the urgent need to disrupt the status quo technologies supporting financial services, ESG, and GRC teams that rely on manual business processes and legacy software. With a diverse and talented team of more than 2,500 members, we have established ourselves as a leading SaaS platform for assured integrated reporting, serving over 6,000 organizations worldwide.

Today's complex business challenges and stakeholders demand more from businesses. A number of new and emerging sustainability reporting rules and regulations, including the Corporate Sustainability Reporting Directive (CSRD) in Europe, the Climate Corporate Data Accountability Act in California, and the SEC climate-related disclosure rule in the United States, have brought renewed attention to the need for transparency and trusted disclosure of financial and non-financial ESG data. Regardless of whether companies disclose such data on a voluntary basis or to comply with regulations, both numbers and narrative must be accurate. Our solutions are well positioned to help our customers navigate the complex and rapidly changing global regulatory landscape.

In an era where stakeholders continue to express interest in environmental and social considerations, this report serves as a transparent account of our commitment to sustainable and responsible business practices. Our four ESG targets-innovation, environment, philanthropy, and people-are aligned with the UN Sustainable Development Goals and represent the areas in which we believe we can add the most value to business and society. I am delighted to report that we met or exceeded projections for all ESG target milestones in 2023. We also:

• Received an AAA rating in the 2023 MSCI ESG ratings assessment for the second year in a row
• Committed to set science-based targets with the Science Based Targets initiative (SBTi)
• Achieved 93% engagement score in the Great Place To Work® Trust IndexTM Survey
• Were named a Fortune 100 Best Companies to Work For® for fifth consecutive year1

Our dedication to transparent and accurate ESG practices is a fundamental principle that guides our decision-making. This impact report highlights our efforts to align our business practices with the principles of sustainability, social responsibility, and good corporate governance. I invite you to explore this report, which was created using our own ESG solution, and gain insights into Workiva's ESG journey.

Julie Iskow

President and Chief Executive Officer

• Fortune 100 Best Companies to Work For® is a registered trademark of Fortune Media IP Limited and is used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Workiva

About Workiva

Our unified platform

Workiva is on a mission to power transparent reporting for a better world. We believe in this mission because the status quo technologies supporting financial reporting, ESG, and GRC teams have been fragmented for far too long. The work of these teams has become larger in scope, broader in impact, significantly more complex, and more increasingly intertwined than ever before. Financial reporting teams are being asked to integrate ESG data into their reports but sometimes with questionable data. Auditors are wrestling with the increasing risk that public ESG reporting is introducing, while the ESG team is scrambling to implement data flows and processes that are ready for both financial reporting and audit scrutiny.

Assured integrated reporting

That's why we've put all our effort into building the world's leading cloud platform for assured integrated reporting-bringing financial reporting, ESG, and GRC teams together in one controlled, secure, audit-ready environment and helping them orchestrate work across departments and eliminate technology silos. No matter the reporting, assurance, or risk exercise, we remove the complexities by easily connecting to data sources. We centralize that data, allowing teams to work together in an automated, auditable environment to create accurate, consistent financial and non- financial reports and disclosures for stakeholders. Our platform and technology have never been more relevant-or more important.

4

Workiva by the Numbers

as of December 31, 2023

6,000+ 2,500+

customers	full-time
	employees

$630M	85%
in revenue	of the top 500
	companies by
	revenue are customers

98%*	19
revenue retention	offices across
	North America, Europe,
	Asia Pacific, plus remote teams

340k+ 27%

*Our methodology for calculating subscription and support revenue retention rate can be found in the Key Performance Indicators section on page 49 of our 2023 Form 10-K.

platform users	revenue invested
across 180+ countries	in R&D

5

Recognition & Partnerships

Received an AAA rating in the MSCI ESG Ratings assessment, signifying industry- leader status in managing significant ESG risks and opportunities1

Forrester Consulting's Total Economic Impact™ study found the return on investment of deploying the Workiva platform for financial reporting, ESG reporting, and audit and risk management to be 204% over a three-year period5

Listed as

2023 Fortune

100 Best Companies to Work For®2

Ranked in top 25% of global Software &

Services Industry by Morningstar

Sustainalytics in 20233

Named a Winter 2024 Leader by G2 for both Sustainability Management and ESG Reporting Software

Achieved CDP Gold Accredited Provider status project in 20234

Recognized as "Committed" to sustainability by EcoVadis in January 2024 for progress made in 2023

WORLD

ECONOMIC

FORUM

Joined the World

JoinedEconomictwoForumCentresasalong withmemberthe CFOof CFOandandCSOCSO communitiies

Signed on as one of 130 "early movers" with the UN Global Compact's Forward Faster initiative

1. The use by Workiva of any MSCI ESG Research LLC or its affiliates ("MSCI") data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Workiva by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
2. From Fortune. ©2024 Fortune Media IP Limited. All rights reserved. Used under license.

1. Copyright ©2024 Morningstar Sustainalytics. All rights reserved. This publication contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers
2. Workiva has been an accredited provider since 2021.
3. According to a commissioned study conducted by Forrester Consulting on behalf of Workivaand completed in 2023 that included five representative interviews and data aggregation, Forrester concluded that the three-year financial impact of Workiva included the above.

6

About This Report

This ESG Impact Report provides information about our performance on ESG topics and contains data and disclosures that cover the period from January 1, 2023, through December 31, 2023, unless otherwise stated. In this document and our ESG disclosures on the Sustainability section of our website, we use the term "material" or "materiality" to refer to Workiva's assessment of ESG priorities to reflect the ESG issues of importance to us and our stakeholders. Used in this context, these terms are distinct from, and should not be confused with, the terms "material" and "materiality" as defined by or construed in accordance with securities law or used in the context of financial statements and reporting. Our financial disclosures for this period can be found in our 2023 Annual Report on Form 10-K.

This document covers all of Workiva's operations included in its 2023 financial statements, unless otherwise stated. On April 1, 2022, Workiva acquired ParsePort ApS ("ParsePort"). Unless otherwise stated, certain customer data and GHG emissions data measures presented relating to 2022 exclude ParsePort results, whereas other measures presented relating to 2022 include ParsePort information. Unless otherwise stated, all measures presented related to 2023 include ParsePort results and information. Where relevant, data measurement techniques, the bases of calculations, and changes in the basis for reporting or reclassifications or updates of previously reported data are reported as footnotes.

The topics covered in this report have been identified through our stakeholder engagement process and ESG materiality assessments and take into consideration frameworks such as the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) Standards, the International Sustainability Standards Board (ISSB), and International Financial Reporting Standards (IFRS). Our ESG programs and reporting are also aligned with many of the United Nations Sustainable Development Goals (SDGs). The relevant UN SDG icons are displayed in each section of the report, and a consolidated framework index can be found at the end of this document.

2014-2018

2020-2021

2022

2023

Timeline

• Published annual Corporate Social Responsibility (CSR) reports
• Launched a digital sustainability reporting page & data center (workiva.com/about/our-sustainability) on our website
• Produced first Workiva ESG Highlights & Executive Summary
• Developed our United Nations Sustainable Development Goals (UN SDG) Index
• Published information regarding our calculated GHG emissions
• Published our first Task Force on Climate-Related Financial Disclosures (TCFD) Index
• Released a holistic Human Capital Management Statement
• Consolidated our Enterprise Human Rights Policy
• Developed a Cybersecurity and Data Privacy Statement
• Disclosed first Environment and Climate Change Statement
• Issued our first annual ESG Impact Report
• Received limited assurance on selected greenhouse gas (GHG) emissions data from an independent third party
• Published first Sustainable Accounting Standards Board (SASB) Index and Global Reporting Initiative (GRI) Index
• Disclosed our Climate Transition Plan

7

Data collection and oversight

We used our own leading ESG reporting solution to build this 2023 ESG Impact Report. 2023 metrics and supporting evidence were collected and centralized within the Workiva platform from subject matter experts and systems throughout the company. The Workiva platform enables reporting teams to verify the data source and approvers and to connect data from source systems directly to end reports. To mitigate any risks related to data collection and reporting, the company developed an internal risk and control matrix for all relevant ESG data in 2023, with testing of controls to begin in 2024.

Selected ESG data within this report, including our 2023 reported GHG inventory, employee demographics, DEIB training hours completed, and philanthropic donations and volunteer hours, has been reviewed by an independent third party using the Audit Binder feature within the Workiva platform. Workiva engaged Apex Companies, LLC as an independent third party to review and provide assurance on selected ESG data, as well as the underlying systems and processes used to collect, analyze, and review the information. This limited assurance extends to our global Scope 1 and Scope 2 (location- and market-based) GHG emissions, and Scope 3 GHG emissions related to purchased goods and services, business travel, employee commuting, and upstream leased assets, RECs and offsets, and operational net zero claim. The limited assurance statement letter can be viewed here.

The Audit Committee of our Board of Directors oversees the company's financial reporting and disclosure process. Part of this responsibility includes reviewing and discussing with management and the internal audit department any risks, controls, and procedures relating to the company's public disclosures of ESG and human capital data. Workiva's ESG Disclosure Group, a working group of the company's governing ESG Task Force, is comprised of senior members of the Legal, Finance, Accounting, Internal Audit, and other teams, and has primary responsibility for preparation and review of all ESG disclosures. The Audit Committee charter can be found on our Corporate Governance website.

Transparency of corrections or restatements of information

We are continuously refining our ESG data and calculations to deliver trustworthy information for our stakeholders. Accordingly, from time to time, in subsequent reports, Workiva may make retrospective changes in previously reported values due to updated availability of new information, changes in calculation or estimation methodology, or correction of calculation or other errors. Previously reported values for Scope 1 fugitive emissions, Scope 2 market-based emissions, and Scope 3 business travel emissions have been updated based on what we have subsequently determined to be more accurate calculation methodologies and updated emissions factors, which are described in the environmental section of this report.

For further information contact

Mandi McReynolds

Vice President, Global ESG

[e-mail]

2900 University Boulevard, Ames, Iowa 50010

• Submitted our first public response to CDP questionnaire

Our ESG Approach & Strategy

Our commitment to environmental stewardship, social responsibility, and corporate governance is an important pillar of our business strategy. We believe we can maximize long-term value for our stakeholders when we deliver innovative solutions to our customers, plan for energy and environmental transitions, strengthen local communities and partnerships, and enhance employees' experience, growth, and opportunities. Our holistic ESG strategy includes ESG materiality assessments, stakeholder engagement, establishing and seeking to achieve targets, adherence to global compliance and voluntary reporting frameworks, and initiatives that connect with financial and sustainability opportunity and risk to drive value.

ESG materiality assessment

We conducted our first ESG materiality assessment in 2021 with key internal and external stakeholders, including our company founders, executives, and employees; and investors, customers, and suppliers. We recognize stakeholders' priorities may evolve over time and can be impacted by a variety of trends, so we periodically update this assessment through pulse checks. We take into account evolving ESG reporting frameworks, the regulatory landscape, and industry best practices. Through our ESG materiality assessments, we identify and prioritize ESG topics based on their impact on our business and our own impact on the environment and society.

A full description of our materiality assessment and stakeholder engagement process can be found in our 2022 ESG Impact Report. Our most recent pulse check occurred in 2023, during which our ESG Task Force approved the company's updated ESG materiality matrix based on feedback from internal stakeholders.

Our priority topics are divided into the four issue areas for which we have set our ESG targets (innovation, environment, philanthropy, and people). In 2023, our ESG Task Force considered the influence of pending regulations, affirmed the key topic areas, and developed a new three-year roadmap to outline action steps related to the topics and targets.

8

2023 ESG MATERIALITY MATRIX

In 2023, Workiva refreshed its corporate values and principles, through a multi-stage stakeholder engagement process. Our corporate values define the character of our company and are the foundation of the culture of Workiva.

Our principles describe the actions and behaviors that we expect from one another. Together, these values and principles define who we are as a company and are reflected in the world by way of our products, services, partnerships, and through every single connection we make.

Our Values

Win as a team

There are no lone heroes here-we chase goals, break barriers, and conquer challenges together.

Make a positive impact

We bring our best selves to do our best work and take action to positively affect the world around us.

Innovate fearlessly

We didn't get to where we are by following the status quo. We operate with appropriate urgency and build transformational products.

Amaze our customers

Simplifying the complex is our specialty, and our commitment to delight beyond expectation is what sets us apart.

Do the right thing

9

Our Principles

Accountability

Fulfill your commitments and take ownership of your actions.

Communication

Engage in the open and candid exchange of information, ideas, and feedback.

Respect

Treat others with dignity and set one another up for success.

Empathy

Put yourself in another person's shoes to understand their point of view.

Collaboration

Leverage each other's strengths to deliver the best outcome.

Inclusion

Uphold a diverse community where everyone belongs.

There are always choices, but with compassion, clarity, and confidence, we make the right calls to fulfill our commitments.

Trust

Believe in each other's capabilities and positive intentions.

Our corporate values include, among others, accountability and trust. In that spirit, we believe it is important for our ESG Impact Report to not only highlight what we did well in 2023 but also to note areas identified for potential improvement.

Notable successes in 2023

Met or exceeded projections for all ESG target milestones

Committed to set science-based targets with the Science Based Targets initiative (SBTi)

Received our first independent third-party limited assurance of certain of our 2022GHG emissions

Submitted our first public CDP response and received a "B" score, which, according to CDP, recognizes companies that have "addressed the environmental impacts of their business and ensure good environmental management"

Expanded disclosures to align with frameworks such as the GRI, SASB, and TCFD

Leveraged the Workiva platform for the centralization of our data collection and our generative AI solution to assist with drafting language for our ESG reports

Maintained strong ESG governance through an Executive ESG Task Force with oversight by the Nominating & Governance Committee of our Board of Directors, our ESG Disclosure Group, and expanded our external ESG Advisory Council

10

Areas for improvement

Although we achieved operational net-zero emissions across Scope 1 and 2 emissions at leased locations where we have full operational control, and Scope 3 upstream leased asset emissions, through reduction initiatives and the implementation of a Renewable Energy Certificate (REC) and carbon offset purchase program, we believe that REC and offsets are only part of the solution for the reduction of our emissions in our value chain. We plan to continue to work with local governments, industry associations, and suppliers to further our sustainability efforts.

While Workiva has made great strides in engaging our supply chain on both environmental and social practices, we are still working on formalized and widespread execution of sustainability-related risk analysis, environmental assessments, and audits of suppliers.

Stakeholders are asking companies to apply the same robust governance and rigor to their sustainability reporting as they do to their financial reporting, and the role of the CFO is evolving as a result. ESG considerations must be woven into the organization's strategic planning process, risk management initiatives, and impact assessments. Our approach has included leveraging our technology to streamline ESG data management and reporting so we can collectively make more informed, data-driven decisions.

-Jill Klindt, CFO and Executive Chair of ESG Task Force