Third Amendment to the Loan and Security Agreement, dated as of January 20, 2023, by and between the Registrant and City National Bank

This Third Amendment to Loan and Security Agreement (this “Amendment”) is entered into as of January 20, 2023, by and between City National Bank (“Bank”) and Backblaze, Inc. (“Borrower”).

NOW, THEREFORE, the parties agree as follows:

1.Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.

2.1Section 1.1 (Definitions).

(a) The defined term “Permitted Indebtedness” is hereby amended by deleting the “and” at the end of clause (f), replacing the “.” at the end of clause (g) with “; and” and adding the following new clause (h), as follows:

“(h) Indebtedness consisting of guarantees of the lease obligations of Netherlands Subsidiary in favor of Data Sales CO US, Data Sales Netherlands BV, Dell-US and/or Dell-EMEA.”

(b) The defined term “Permitted Investment” is hereby amended by deleting the “and” at the end of clause (c), replacing the “.” at the end of clause (d) with “; and” and adding the following new clause (e), as follows:

“(e) Investments in (i) Backblaze Netherlands B.V., a Subsidiary organized under the laws of the Netherlands (“Netherlands Subsidiary”) and (ii) Backblaze Worldwide, Inc., a Subsidiary organized under the laws of the State of Delaware to own the capital stock of Netherlands Subsidiary (“Delaware Subsidiary”).”

2.2Section 2.4 (Interest Rates). The first sentence of Section 2.4(a) is amended and restated to read as follows:

“Except as set forth in Section 2.4(b), Advances consisting of Average SOFR Advances shall bear interest, on the outstanding Daily Balance thereof, at a rate equal to Average SOFR plus two percent (2.0%).”

2.3Section 6.9 (Accounts). Section 6.9 is amended and restated to read as follows:

“6.9 Accounts. Borrower shall use its best efforts to maintain and cause each of its Subsidiaries to maintain its depository, operating, and investment accounts with Bank. For each account that Borrower maintains outside of Bank, Borrower shall cause the applicable bank or financial institution at or with which any such account is maintained to execute and deliver an account control agreement or other appropriate instrument in form and substance satisfactory to Bank; provided however, that Borrower shall be permitted to maintain its existing accounts with Wells Fargo Bank, and provided, further, that Netherlands Subsidiary may maintain account(s) in the Netherlands and shall not be required to execute and deliver account control agreements with respect to such account(s).”

2.4 Exhibit D (Compliance Certificate). Exhibit D to the Loan Agreement is hereby replaced in its entirety with Exhibit D attached hereto.

3.Consent. Bank consents to the formation of Netherlands Subsidiary and Delaware Subsidiary. Notwithstanding the provisions of Section 6.7 of the Loan Agreement, neither Netherlands Subsidiary nor Delaware

Subsidiary shall be required to become Borrowers under the Loan Agreement or otherwise guarantee the Obligations.

5.Representation and Warranties. To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as follows:

6.Ratification of Perfection Certificate. Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of October 21, 2021, and acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Perfection Certificate have not changed (other than as set forth in written notices to Bank), as of the date hereof.

7.Integration. This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.

8.Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

9.Electronic Execution of Documents. Each party hereto may execute this Amendment by electronic means and recognizes and accepts the use of electronic signatures and records by any other party hereto in connection with the execution and storage hereof.

10.Effectiveness. This Amendment shall be deemed effective upon (a) the due execution and delivery to Bank of this Amendment by each party hereto and (b) payment of an amount equal to the Bank Expenses incurred in connection with the negotiation and preparation of this Amendment.