Slides
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1 2 3 4 5 6 7 8 9 10 11 12 © 2026 Everpure | Financial Analyst Day Everpure Everpure Financial Analyst Meeting Non-GAAP Reconciliations
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1 2 3 4 5 6 7 8 9 10 11 12 © 2026 Everpure | Financial Analyst Day Everpure Product Gross Profit and Gross Margin (GAAP to Non-GAAP Reconciliation)
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1 2 3 4 5 6 7 8 9 10 11 12 © 2026 Everpure | Financial Analyst Day Everpure R&D Expense (GAAP to Non-GAAP Reconciliation) ($ in Millions) FY22 FY23 FY24 FY25 FY26 $ (%) $ (%) $ (%) $ (%) $ (%) R&D (GAAP) $ 581.9 26.7 % $ 692.5 25.2 % $ 736.8 26.1 % $ 804.4 25.4 % $ 963.3 26.3 % Less: SBC (142.3) (6.5) % (161.7) (5.9) % (167.3) (6.0) % (201.1) (6.3) % (238.0) (6.5) % Less: Payments to former shareholders of acquired companies (17.2) (0.8) % (6.0) (0.2) % (2.3) - % - - % - - % Less: Payroll tax related to stock-based activities (4.8) (0.2) % (6.2) (0.3) % (7.0) (0.3) % (10.1) (0.4) % (9.6) (0.3) % Less: Expenses for severance and termination benefits related to workforce realignment - - % - - % - - % - - % (2.2) - % Less: Duplicate lease costs during the transition of our corporate headquarters - - % (5.7) (0.2) % (3.9) (0.1) % - - % - - % R&D (non-GAAP) $ 417.6 19.2 % $ 512.9 18.6 % $ 556.3 19.7 % $ 593.2 18.7 % $ 713.5 19.5 %
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1 2 3 4 5 6 7 8 9 10 11 12 © 2026 Everpure | Financial Analyst Day Everpure Operating Income & Margin (GAAP to Non-GAAP Reconciliation)
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1 2 3 4 5 6 7 8 9 10 11 12 © 2026 Everpure | Financial Analyst Day Everpure Product Revenue Equivalent (GAAP to Non-GAAP Reconciliation) ($ in Millions, unaudited) The following table presents a reconciliation of GAAP product revenue growth, year over year, to Product Revenue Equivalent g rowth, year over year (1) GAAP product revenue for each period is as reported in the Company's Quarterly Report on Form 10-Q for the applicable quarter. Fourth-quarter product revenue is not separately presented in the Company's Annual Report on Form 10-K; fourth-quarter amounts are as reported in the Company's fourth-quarter earnings release furnished on Form 8-K for the applicable period, and may also be derived by subtracting nine-month product revenue reported in the third-quarter Form 10-Q from full-year product revenue reported in the Form 10-K. (2) Subscription Services Total Contract Value (TCV) is an operating metric that represents sales of Everpure's Evergreen//One and similar consumption- and subscription-based offerings, representing the contract value of orders received during the period. Subscription Services TCV is not revenue and is recognized as part of RPO in the period booked. Revenue from these sales is recognized over the contract term in accordance with GAAP. (3) The management estimate applied to Subscription Services TCV reflects management's estimate that 70% of subscription sales in the applicable period is economically equivalent to product revenue in that period. ($ in Millions) Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Product revenue (GAAP) (1) $ 494.7 $ 372.2 $ 446.3 $ 534.8 $ 618.5 $ 576.5 $ 686.8 Subscription Services Total Contract Value (2) 139.8 95.3 125.5 120.1 179.2 165.0 277.1 Management's estimate of the portion of Subscription Services TCV as equivalent to product revenue: 70% (3) 97.9 66.7 87.9 84.1 125.4 115.5 194.0 Product Revenue Equivalent (Non-GAAP) $ 592.6 $ 438.9 $ 534.2 $ 618.9 $ 743.9 $ 692.0 $ 880.8 Year-over-year growth Product revenue YoY growth 7.3 % 7.1 % 10.9 % 17.6 % 25.0 % 54.9 % 53.9 % Subscription Services TCV as equivalent to product revenue, YoY growth 1.9 % 6.4 % 2.0 % 1.0 % 0.5 % 2.8 % 11.0 % Product revenue equivalent, YoY growth 9.3 % 13.5 % 12.9 % 18.6 % 25.5 % 57.7 % 64.9 % Definition Product Revenue Equivalent ("PRE") is a non-GAAP financial measure, calculated as GAAP product revenue plus a management-estimated portion of Subscription Services total contract value ("TCV") sales for the period. PRE is not a measure of revenue, is not p repared in accordance with GAAP, and should not be considered in isolation from or as a substitute for GAAP product revenue.