Backblaze Announces Launch of Initial Public Offering

Backblaze, Inc. (“Backblaze”), a leading storage cloud platform, today announced that it has launched the roadshow for its initial public offering. Backblaze has filed a registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) to offer 6,250,000 shares of its Class A common stock to the public. In addition, the underwriters will have a 30-day option to purchase up to an additional 937,500 shares of Class A common stock from Backblaze. The initial public offering price is expected to be between $15.00 and $17.00 per share. Backblaze has applied to list its Class A common stock on the Nasdaq Global Market under the ticker symbol "BLZE."

Oppenheimer & Co., William Blair and Raymond James will act as lead book-running managers for the proposed offering, with JMP Securities and B. Riley Securities acting as joint book-running managers. Lake Street will act as co-manager for the proposed offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained, when available, from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad St., 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com; William Blair & Company, L.L.C. Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by telephone at (800) 621-0687 or by email at prospectus@williamblair.com; or Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, email: prospectus@raymondjames.com, telephone: 800-248-8863.

A registration statement relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Backblaze: Backblaze makes it astonishingly easy to store, use, and protect data. The Backblaze Storage Cloud provides a foundation for businesses, developers, IT professionals, and individuals to store, back up and archive data, host content, manage media, build their applications, and more. With nearly two exabytes of data storage under management, the company currently works with close to 500,000 customers in over 175 countries. Founded in 2007, the company is based in San Mateo, CA. For more information, please go to www.backblaze.com.

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