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123456789101112 © 2026 Everpure | Financial Analyst Day FinancialAnalystMeeting2026
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123456789101112 © 2026 Everpure | Financial Analyst Day Forward Looking Statements and Non-GAAP InformationThis presentation contains forward-looking statements regarding our products, business, operations and financial performance, including but not limited to our views relating to our future period financial and business results, including our expectations regarding rule of 40; our capital allocation priorities, includingresearch and development investment, strategic mergers and acquisitions and the return of excess capital; our total addressable and serviceable addressable market estimates and our expectations regarding market growth and continued market share gains; the expected mix of core and new product revenue; demand for our products and subscription and consumption offerings, including Evergreen//One, and the related sales mix; our sales pipeline and the timing and magnitude of large orders, including sales to hyperscalersand large enterprises; our technology and product strategy and roadmap, including DirectFlash, FlashBlade//EXA, the Enterprise Data Cloud and our expansion into data intelligence; our opportunity in modern data software, scale AI, and hyperscale environments, our ability to meet hyperscalers’ performance, price and other requirements, to expand with existing and land new hyperscale customers, and the timing and amount of hyperscale revenue; theexpected contribution to our revenue from modern data software, scale AI, and hyperscale products; our ability to manage supply chain disruptions and procure sufficient flash and other components; the impact of component cost increases and NAND pricing cycles on our pricing, gross margin and share gains; the anticipated effects of our acquisition of 1touch; our expectations regarding product and technology differentiation, sustainability and energy savings for customers, new investments and partnerships; and the impact of inflation, currency fluctuations, tariffs or otheradverse economic conditions.Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “expect,” “could,” “seek,” “estimate,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” or similar expressions and the negatives of thoseterms. The forward-looking statements in this presentation are based on information currently available to us and represent our beliefs and assumptions only as of the date of this presentation. Exceptas required by law, we assume no obligation to update these statements publicly, or to update the reasons actual results could differ materially from those anticipated, even if new information becomes available in the future.Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied. Additional risks, uncertainties and other factors are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our reports previously filed with the SEC, which are available on our website at investor.everpuredata.comand on the SEC's website at www.sec.gov.This presentation includes non-GAAP financial measures as defined by SEC rules. As required by Regulation G, we have provided reconciliations of those measures to the most directly comparable GAAP measures, which are available in the Appendix. We have not reconciled our forward-looking non-GAAP measures to the most directly comparable GAAP measures because items such as stock-based compensation expense and payroll tax expense related to stock-based activities that impact these measures are not within our control and/or cannot be reasonably predicted. Accordingly, reconciliations of these non-GAAP financial measures are not available without unreasonable effort.Note about 52/53-week fiscal year: We use a 52/53-week fiscal year ending on the first Sunday after January 30.
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123456789101112 © 2026 Everpure | Financial Analyst Day Everpure strategy overview and expanded opportunityCharles GiancarloChairman and Chief Executive Officer
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123456789101112 © 2026 Everpure | Financial Analyst Day AgendaTECHNOLOGY DEEP-DIVESLive webcast · 9:00–11:05am9:00amDoors open for a light breakfast9:30amOpening & introductionsPaul Ziots, Vice President Investor Relations9:35amData primacy: Data management strategy for the AI eraPrakash Darji, General Manager DX, andAshish Gupta, General Manager, Data Management9:55amBuilding the foundation for Enterprise AIChadd Kenney, Vice President Product Management10:15amMeet FlashBlade//EXA. More AI. Less waiting.Rob Lee, Chief Technology and Growth Officer10:35amCombined Q&A11:05amEnd session MAIN SESSIONLive webcast · 12:00–2:40pm12:00pmEverpure strategy overview & expanding our opportunityCharles Giancarlo, Chairman and CEO12:30pmEverpure’sfundamental advantages & right to winRob Lee, Chief Technology and Growth Officer1:10pmFoundation for further growth & long-term financial frameworkTarek Robbiati, Chief Financial Officer1:55pmQ&ACharles Giancarlo, Tarek Robbiati, Rob Lee, John “Coz” Colgrove, Founder & Chief Visionary Officer, Bill Cerreta, GM of Hyperscale, Prakash Darji2:40pmEnd session
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123456789101112 © 2026 Everpure | Financial Analyst Day 12 Year enterprise storage market share NET Gain / LossEverpure+14.2%NetApp-0.4%HPE-1.4%Dell/EMC-2.7%Hitachi-3.5%IBM-6.2%-1 0% -5 % 0% 5% 10 % 15 % CY'13 CY'26 Note: Shares among the top six vendors in the External OEM (Ex-China) market FlashArrayFlashBladeAIRI Cloud Block Store (CBS) EG//1PortworxFlashBlade//S EDCFlashBlade//EXAData StreamData Intelligence CY’20132014201520162017201820192020202120222023202420252026 //E Family
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123456789101112 © 2026 Everpure | Financial Analyst Day Everpure’ssustainable competitive advantageEverpure treats data as high technology not a commodity “When a new model changes the economics of an industry and is difficult to replicate, it can by itself create a strong competitive advantage.”—Joan Magretta, “Why Business Models Matter”, Harvard Business Review, May 2002
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123456789101112 © 2026 Everpure | Financial Analyst Day A LeaderCUSTOMER MOMENTUM84Net Promoter Score14,500+Customers64%of the Fortune 500 CUSTOMER MOMENTUM84Net Promoter Score+~15,000Customers64%of the Fortune 500 Growth funds innovation. Innovation funds more growth. LARGEST R&D INVESTMENT IN THE INDUSTRY TTM R&D Spend>$1B* *Calculated as trailing twelve-month GAAP R&D spend as of Q2'FY27Gartner and Magic Quadrant are trademarks of Gartner, Inc. Gartner and Forrester do not endorse any vendor, product or service depicted in their research publications.+Net Promoter Score Per Audited NPS customer score for 2025
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123456789101112 © 2026 Everpure | Financial Analyst Day A LeaderCUSTOMER MOMENTUM84Net Promoter Score14,500+Customers64%of the Fortune 500 CUSTOMER MOMENTUM84Net Promoter Score+~15,000Customers64%of the Fortune 500 Growth funds innovation. Innovation funds more growth. LARGEST R&D INVESTMENT IN THE INDUSTRY TTM R&D Spend>$1B* *Calculated as trailing twelve-month GAAP R&D spend as of Q2'FY27Gartner and Magic Quadrant are trademarks of Gartner, Inc. Gartner and Forrester do not endorse any vendor, product or service depicted in their research publications.+Net Promoter Score Per Audited NPS customer score for 2025
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123456789101112 © 2026 Everpure | Financial Analyst Day A LeaderCUSTOMER MOMENTUM84Net Promoter Score14,500+Customers64%of the Fortune 500 CUSTOMER MOMENTUM84Net Promoter Score+~15,000Customers64%of the Fortune 500 Growth funds innovation. Innovation funds more growth. LARGEST R&D INVESTMENT IN THE INDUSTRY TTM R&D Spend>$1B* *Calculated as trailing twelve-month GAAP R&D spend as of Q2'FY27Gartner and Magic Quadrant are trademarks of Gartner, Inc. Gartner and Forrester do not endorse any vendor, product or service depicted in their research publications.+Net Promoter Score Per Audited NPS customer score for 2025
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123456789101112 © 2026 Everpure | Financial Analyst Day One software foundation serves every storage segmentAny workload. Any protocol. Any scale. Any economics. All on Purity. Core & Core AI FlashArray FlashBlade Evergreen//One Scale AI FlashBlade//EXA Hyperscale Solutions DirectFlash PurityOne software foundation across every platformBlockFileObject DirectFlashRaw NAND, no SSD controller in the data path Customer benefitsConsistency, quality, simplicityEverpure benefitsScale, efficiency, quality, focusShareholder benefitsScale & growth efficiencies Evergreen Architecture –Always non-disruptive, never gets old
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123456789101112 © 2026 Everpure | Financial Analyst Day 64%2,33044%4,065 40%6~15,00032CRN 2025 300+ 8 Scaled sales and marketing engineGlobal Sales OrganizationOne team, customer driven CommercialScale and velocity Enterprise/GlobalsFranchise-account growth InternationalLocal execution, global leverage GovernmentMission critical outcomes GLOBAL SALES ORG OF FORTUNE 500OF GLOBAL 2000 VARPARTNERS GLOBAL STRATEGIC PARTNERS OF U.S. FEDERAL AGENCIES NET PROMOTER SCORE84 MAJOR GSI PARTNERSCUSTOMERS WWCOUNTRIES PRODUCT OF THE YEAR • AI 100 CLOUD 100 • TOP IT INNOVATORS INT’L GOV’T AGENCIES 50GLOBAL TECHNOLOGY PARTNERS
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123456789101112 © 2026 Everpure | Financial Analyst Day Everpure has reached an inflection pointGrowth has accelerated for eight consecutive quarters: based on growth of our core businessREVENUE GROWTH, YEAR-ON-YEAR 9%11%12%13%16%20% 35%38% Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27 01Durable, not a spikeEight consecutive quarters of accelerating growth 02Growing with increasing margin52% TTM Non-GAAP operating income growth* 03Innovation led growthEfficient investment in R&D and expansion *Growth in trailing twelve-month Non-GAAP Operating Income, Q3’FY26-Q2’FY27 vs. Q3’FY25-Q2’FY26. See GAAP to Non-GAAP reconciliation in Appendix.
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123456789101112 © 2026 Everpure | Financial Analyst Day OnestoragearchitectureOne future target → Scaled data managementCore & Core AIEnterprise data storage, Product and/or subscription, including AI FlashBlade, FlashArray, Evergreen//One Scale AIGPU-attached storage for neoclouds and AI-native providers; the same IP at 10 and 100 times the scale FlashBlade//EXA Hyperscale SolutionsTens of exabytes for the largest buyers in the world, on the same software DirectFlashModules,Purity/DirectFlashSoftware Software that ensures data mobility, continuous protection, and intelligence Data Intelligence, Data Stream, Modern virtualization Modern Data Software
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123456789101112 © 2026 Everpure | Financial Analyst Day Core product growth acceleratingProduct growth continues to accelerate: a trend, not a one-time resultPRODUCT REVENUE EQUIVALENT GROWTH, YEAR-ON-YEARProduct70% of Subscription Services TCV* 9% 14% 13% 19% 26% 58% 65% Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27 01Accelerating Product GrowthExpanding product coverage, adding markets, high leverage 02Taking share, outpacing the marketThe gap widens every year 03Momentum as the launchpadCustomer and operational momentum, driven by relentless innovation *Product Revenue Equivalent is a Non-GAAP financial measure, calculated as GAAP product revenue plus a management-estimated portion of Subscription Services total contract value ("TCV") sold in the period. Management estimates this portion at 70% of booked TCV as an approximation of the product revenue equivalent of those sales. Seeappendix for GAAP to non-GAAP reconciliation. Core & Core AI
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123456789101112 © 2026 Everpure | Financial Analyst Day Core AI: Accelerating GPU connected arrays Pilots → Production Accelerating opportunities & sales Purity & Evergreen value propositionAI data platform plug & play//S & //EXA synergy Install & production ready in hoursProduction level quality 2026 models significantly improvedopen weight models driving adoptionStarting with AI Data Platform deployment Accelerating on-prem GPU deployments Core & Core AI GPU-Attached systems H1 26H2 26H1 27EH2 27E
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123456789101112 © 2026 Everpure | Financial Analyst Day RepeatabilityConsistencyDiagnosabilityAccuracy From Data Processing to Data Primacy: The Agentic Inversion of Work and IT Architecture How sixty years of enterprise computing came full circle —and what it means for enterprise architecture and designing workAug 26, 2026 —by Andy Brown, Charlie Giancarloin Perspectives The industrial and AI revolutions v1.0 v2.0 With AI…Data primacy is the new foundation of enterprise IT Modern Data Software
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123456789101112 © 2026 Everpure | Financial Analyst Day Data primacy requires data intelligenceModern Data Software DiscoverFinding and connecting to data ClassifyIdentifying and labeling metadata ContextualizeAdding information about business purpose, meaning and relationships Universal Data IntelligenceUnderstandthe Data Govern the DataStore the Data EverpureData SaaSAppsMainframe Other Data
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123456789101112 © 2026 Everpure | Financial Analyst Day From enterprise AI to exabyte AIGROWING SALES FOR //EXA•Neoclouds, Sovereign and AI-native providers •Performance, scale, quality and flexibilitySAME PURITY ENGINE -ACROSS ALL NEOCLOUD USE CASES•//EXA extends proven Everpurevalue into AI build-out•No new platform to fund, no new stack to supportSCALE WITHOUT SURPRISES•Consistent performance and predictable pricing across thousands of GPUs•1 to 50 TB/s. 100 PB to exabytes. Trillions of files. Same Purity platform100x the ceilingScale AI
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123456789101112 © 2026 Everpure | Financial Analyst Day PotentialTotal Available Market >>1,000 Exabytes annuallyDFM Exabytes PurchasedExabytes FY’25 FY’26 FY’27 FY’28 FY’29 FY’30 Customer benefit Reliability, performance, density, simplicity, lifetimeLower operating costLess complex integrationNAND software abstraction Strategy Replace all SSD & HDD architectures with DirectFlashFrom high performance (AI) to low cost (HDD)* and everything in between *(when NAND prices revert) Hyperscale SolutionsEverpureHyperscale solutions
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123456789101112 © 2026 Everpure | Financial Analyst Day Summing up
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123456789101112 © 2026 Everpure | Financial Analyst Day 01Eight quarters of increasing revenue growth and share gains in core enterprise storage market show durable core sales acceleration 02Concentrated R&D on one architecture promises highly leveraged operating model 03New high-growth markets are non-overlapping with the core and each other 04Hyperscalervalue proposition clear, repeatable, and operates both in SSD and HDD environments —both in high-and low-cost NAND environments © 2026 Everpure | Financial Analyst Day KEY TAKEAWAYSTransition to durable accelerated growth
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123456789101112 © 2026 Everpure | Financial Analyst Day One architecture. Many paths to growth. One core of technology and IP DirectFlashPurity EvergreenData Intelligence Core & Core AIAccelerating share growth and AI-based TAM expansion CORE BUSINESS AI requires enterprise data to be ready, governed and accessible, expanding our opportunity from storing data to managing it Scale AIAI Storage Infrastructure for the most demanding and largest GPU environments in Neoclouds, GPU-aaSProviders and Tech Titans Hyperscale SolutionsThe world’s largest data centersare moving from disk to flash, opening a new market for our differentiated flash architecture and software Modern Data Software NEW MARKETS +
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123456789101112 © 2026 Everpure | Financial Analyst Day Paths to growth and right-to-winRob LeeChief Technology and Growth Officer
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123456789101112 © 2026 Everpure | Financial Analyst Day Foundation for future growth17 years of IP & ~15,000 customers served Core & Core AIAccelerating share growth and AI-based TAM expansion CORE BUSINESS AI requires enterprise data to be ready, governed and accessible, expanding our opportunity from storing data to managing it Scale AIAI Storage Infrastructure for the most demanding and largest GPU environments in Neoclouds, GPU-aaSProviders and Tech Titans Hyperscale SolutionsThe world’s largest data centersare moving from disk to flash, opening a new market for our differentiated flash architecture and software Modern Data Software NEW MARKETS One foundation. Many paths to growth. +
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123456789101112 © 2026 Everpure | Financial Analyst Day We continue to gain share across the enterprise 01Core business –A significant growth engine02 Enterprise Storage market growth, accelerated by AI 03 Core AIGPU-attached storage deployment growing in Enterprise
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123456789101112 © 2026 Everpure | Financial Analyst Day 01Complete platform & enterprise-wide valueOne platform across block, file and object, on-prem and cloud, as a product or a service 02Stickiness and network-effectEach deployment expands our footprint and makes the next workload easier to win 03Expanding technology differentiationA flash-first lead that widens as software, automation and data management decide outcomes 04Innovation at scaleConcentrated R&D on one architecture, extended across the whole portfolio Enterprise AI amplifies every one of them.SAME PLATFORM · SAME CUSTOMERS Core advantages drive accelerating growth
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123456789101112 © 2026 Everpure | Financial Analyst Day Innovation drives continued market share gainsLARGEST R&D INVESTMENT IN THE INDUSTRY >$1B*TTM R&D Spend•One shared technology concentrates R&D investments•>95% of R&D focused on software•Evergreen/NDU drives faster innovation cycle R&D Re-investment•Highest leadership position in Gartner MQ•Portfolio and workload expansion to cover Block, File, & Object, across Tier0 -Archive•Expanding our lead in Flash Management•Pioneering industry shifts with as-a-Service and Enterprise Data Cloud•Enterprise AI Expanding Differentiation 84 NPS•50%+ lower TCO•5-10x power & space efficiency•25-50x+ greater reliability•5-10x less automation & laborThird-party audited NPS customer score for 2025 Customer Outcomes *Calculated as trailing twelve-month GAAP R&D spend as of Q2'FY27.Gartner and Magic Quadrant are trademarks of Gartner, Inc. Gartner and Forrester do not endorse any vendor, product or service depicted in their research publications.
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123456789101112 © 2026 Everpure | Financial Analyst Day Enterprise market growth –Accelerated by AIMore data, kept longer, held closer +Core storage market benefits indirectly from AI•Data growth increases•AI makes data significantly more valuable•AI requires data to be accessible and performant•Data sovereignty, control, retention drives data storage CORE TAM GROWTH $51B12%+ CAGRCore & Core AI TAM EXPANDING TAM (CORE AI)GPU-connected storage for AI inference or agents•Performance AND enterprise mission-criticality•AI is moving to the data•Everpureperfectly suited to needs of new AI workloads
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123456789101112 © 2026 Everpure | Financial Analyst Day CORE AI WINLarge Multi-National Bank•Build and deploy financial AI agents•FlashBladeproviding agent and user-memory to 1000’s of users•FlashBladedeployed as a part of NVIDIA reference stack•Competitive displacement, chosen for performance AND usability, simplicity and reliability Enterprise applicationsDatabases ·VMs · AnalyticsEnterprise AIRAG · Inference· Agents AI is coming to the dataBusiness-critical AI runs next to the applications that feed it, on the platform customers already run Core AI –Growing as an enterprise workload
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123456789101112 © 2026 Everpure | Financial Analyst Day CORE AI WINLarge Multi-National Bank•Build and deploy financial AI agents•FlashBladeproviding agent and user-memory to 1000’s of users•FlashBladedeployed as a part of NVIDIA reference stack•Competitive displacement, chosen for performance AND usability, simplicity and reliabilityAI is coming to the dataBusiness-critical AI runs next to the applications that feed it, on the platform customers already run Enterprise applicationsDatabases ·VMs · Analytics PerformanceConcurrencyResiliencyGovernanceEvergreen Enterprise AIRAG · Inference· Agents Core AI –Growing as an enterprise workload
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123456789101112 © 2026 Everpure | Financial Analyst Day Innovation & differentiation+Customer outcomes & NPS+Platform stickiness & network-effect=Continued share gains×Data growth+AI increases value of data+Inference and agent workloads (Core AI)=Accelerated market growth Core growth Core business growth –A simple equation
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123456789101112 © 2026 Everpure | Financial Analyst Day Three distinct new opportunitiesDifferent customers, different dynamics, one shared foundation 01 02Scale AI Concentrated GPU infrastructure for AI workloads 03 Modern data softwareExpanding from storing data to managing it Hyperscale solutionsBringing benefits of DirectFlashto the largest Hyperscalers
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123456789101112 © 2026 Everpure | Financial Analyst Day Modern data software01 02The applications consuming it, and where they run, are modernizing 03 AI needs the right data –organized, governed, and accessible first We start where the data already lives
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123456789101112 © 2026 Everpure | Financial Analyst Day Modern data software Hybrid & multi-cloud•Connect and access data-assets in-place•Cloud portability and capabilities for both traditional and modern appsEverpureCloudPortworx AI needs the right data•Finding and cataloguing data across silos•Ensuring the right data is being used in the right ways Data Intelligence •Automatic data ingestion, indexing and vectorization•Organizing data for easy access to RAG & Inference•Robust data security Organizing data for AI Data Stream Modern applications•Data pipelines, inference and agents applications container & kubernetes-based•Traditional applications and virtualization shifting as well Portworx
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123456789101112 © 2026 Everpure | Financial Analyst Day Scale AI opportunity01 02Extending core IP and enterprise capabilities to Neoclouds 03 Largest-scale AI infrastructure demands new solutions Entire spectrum of AI infrastructure
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123456789101112 © 2026 Everpure | Financial Analyst Day AI infrastructure needs Enterprise (Core AI)10s-100s of GPUs1-10s PB100s users FlashBlade//S100s GB/s performanceRAG, inference, agent deployment 10–100xscale Extension of same technology Large-scale AI1K-100K GPUs100s of PB to 1 EB+10000s users FlashBlade//EXA10s TB/s performanceLarge-scale training and inference
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123456789101112 © 2026 Everpure | Financial Analyst Day From enterprise AI to exabyte AIScale AI METADATA PERFORMANCEKey-value database on FlashBladeHighly consumable metadataNative NFS solution, no databaseBuilt on open-standards SCALEPerformance and capacity scaling1 TB/s to 50 TB/s100 PB to multiple EBNear-unlimited namespaces RELIABILITY AND PREDICTABILITYPerformance without compromisesNo headaches of parallel filesystemsBuilt on FlashBlade//S core technology and reliabilityFlexibility to grow and scale from smallest to largest
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123456789101112 © 2026 Everpure | Financial Analyst Day #1in EVERY checkpointing & KV-cache metric submitted Closed Division (Standardized) 877 GiB/speak checkpoint write throughput1T model, 30 data nodes 85,736 tok/sKV-cache throughputLlama 3.1 8B, storage-only FlashBlade//EXA The #1 AI Storage Platform in MLPerf®v3.0 MLPerfStorage v3.0, Closed division: standardized benchmark, identical workloads across all vendors. Checkpointing tested at 1T (1250B) parameter scale —the storage load of a 1,024-accelerator training cluster, driven by 32 client hosts. Full results: mlcommons.org
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123456789101112 © 2026 Everpure | Financial Analyst Day Buying criteria are shifting toward Everpure'sstrengthsTHE INITIAL RUSHRaw performance and benchmarks AS THE MARKET MATURESPerformance still matters. Customers are no longer willing to give up reliability, security or simplicity to get it Large scale AI environments are mission critical 01Needs expanded from just raw perf to also all the enterprise abilities 02We are uniquely positioned to meet both needs 03
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123456789101112 © 2026 Everpure | Financial Analyst Day Hyperscale solutions01 02A single consistent architecture across performance tiers 03 We deliver technical and structural advantages Limited competitive options
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123456789101112 © 2026 Everpure | Financial Analyst Day Last 10 years of Hyperscale storage + = Perf/TBrequired TimePerformance needs growing Perf/TBprovided Time Flash HDD HDDs keep getting slower Exabytesshipped Time QLCFlash Driving race to deploy QLC
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123456789101112 © 2026 Everpure | Financial Analyst Day OPTION AConventional SSDsWill continue, but require long qual cycles and suffer from inefficient architecture Increasingly inefficient OPTION BBuild it in-houseMaintenance and qualification, every vendor and generation of flash Significant R&D and opportunity cost OPTION CEverpureThe best of both worlds —efficiency andreliability, without onerous R&D Proven, easy-to-integrate, time-to-market Every Hyperscaleris scrambling toSecure QLC SSD supply contracts1Qualify SSDs from multiple vendors for rapidly changing workloads2Maximize efficiency of the investment3
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123456789101112 © 2026 Everpure | Financial Analyst Day We offer technical and structural advantages Hard Disk Drives•Growing slightly larger, but also much slower•Additional complexity required to mitigate low performance•Mechanical failures limit reliability•Performance and reliability severely diminish efficiency Solid State Drives•SSDs present NAND as an HDD•Complex, inefficient and unreliable firmware is required•Firmware requires significant resources and HW/SW validation of each vendor•SSD architecture limits ability to scale, with significant performance, reliability and efficiency trade-offs Hyperscale Solutions•Purpose-built to natively access NAND flash•Host-side flash management•Simplified drives, more efficient•Removes the SSD architecture limits on scale, performance, reliability and efficiency
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123456789101112 © 2026 Everpure | Financial Analyst Day One consistent, software-controlled architectureHyperscalerDistributed Storage Software SSD Hybrid HDD & SSD Hard Disk Drive HOT WARM COLD / ARCHIVE One architecture across tiersSame media, same software, same operations from hot to archive SSD, hybrid and hard disk: three stacks to qualify and operate One DirectFlash architecture across all three tiersDifferent performance tiers rely on SSDs, hard drives and hybrid approaches. Complexity at every tierA path to standardization as hyperscalerstransition to flash over time PERFORMANCE DENSITY SOFTWARE &MEDIA CONTROLLED Software drives consistency across tiers Same media, same software, same operations from hot to archive —across existing and new workloads
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123456789101112 © 2026 Everpure | Financial Analyst Day One consistent, software-controlled architecture HyperscalerDistributed Storage Software Hybrid HDD & SSD Hard Disk Drive HOT WARM COLD / ARCHIVE One architecture across tiersSame media, same software, same operations from hot to archive —across existing and new workloads More qualification cycles and stranded capacity One DirectFlash architecture across all three tiers PERFORMANCE DENSITY SOFTWARE &MEDIA CONTROLLED Software drives consistency across tiers & flexibility for new workloads CONTENT AI/MLCACHELOGS NEWOBJECTDATA WORKLOADS NEWDBDATALAKE SSD SSD SSD
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123456789101112 © 2026 Everpure | Financial Analyst Day MultipleNANDgenerationsMultiplesuppliersContinuousqualificationReliabilityengineeringMediaoptimizationProductionexperience Our innovation enables Hyperscale success17 YEARS OF ACCUMULATED FLASH ENGINEERING DirectFlash + Purity · refined every generation2015 FlashArray//M seeds the module design 2016 FlashBlade ships raw flash blades, managed by Purity 2017 FlashArray//X: first DirectFlash Modules on NVMe 2019 FlashArray//C: QLC flash in an enterprise array 2022 FlashBlade//S: one DFM design across both platforms 2023 75 TB DFM ships 2024 150 TB DFM, 800K+ modules shipped 2026 300 TB DFM 2025202120202018
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123456789101112 © 2026 Everpure | Financial Analyst Day Why Hyperscalerschoose Everpure300 TBDENSITY2×LIFETIME80–90%LOWER FOOTPRINT2–5×MORE RELIABLE<250 µsPREDICTABLE PERFORMANCE10-20%+MORE FLASH UTILIZATION15+YEARS OF FLASH INNOVATION More capacity per rack, fewer racks per exabyte Increased resiliency and uptime, lower failure rates Power, space and cooling reclaimed for AI and others Fewer device-level failures than enterprise SSDs Consistent latency under mixed workloads More usable capacity from every NAND die than SSDs A mature capability, validated at the largest scale
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123456789101112 © 2026 Everpure | Financial Analyst Day What Hyperscalersare balancing and our valueHYPERSCALERS BALANCEWE GIVE THEM EfficiencyPower, rack space, density, reliability, lifetime and operating cost Technical efficienciesThe density, power, reliability and lifecycle attributes of DirectFlash UniformityPredictable behavioracross scale and operations, fewer stacks to qualify and manage A single consistent architectureOperate across performance tiers in a uniform way Supplier diversityMultiple suppliers and technology paths, reduced dependency Risk diversitySits side by side with their off-the-shelf storage nodes Hyperscale Solutions interest expanding beyond top-5
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123456789101112 © 2026 Everpure | Financial Analyst Day ← CUSTOMER SCALE OF DEPLOYMENT →CommercialEnterpriseNeocloudTech TitanHyperscalerCore & Core AI Modern Data Software Scale AI Hyperscale Solutions ONE FOUNDATION 15K Customers17 Years of IP One Architectural FoundationTwo HyperscalerDesign WinsOne Global Sales Organization One foundation, for every customer
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123456789101112 © 2026 Everpure | Financial Analyst Day Foundation for further growth and long - term financial frameworkTarek RobbiatiChief Financial Officer
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123456789101112 © 2026 Everpure | Financial Analyst Day We are at an inflection point in our company’s history Our foundation is solid and our performance is accelerating 01 We intend to grow beyond our core and capture share in new adjacent markets 02 Our long-term financial profile is resetting durably 03
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123456789101112 © 2026 Everpure | Financial Analyst Day Q2FY27 Everpureat-a-glance Total Revenue $1.19B38% Y/Y Growth Subscription ARR $2.13B(1) 20% Y/Y Growth Storage as a Service Offerings $277M(2) 121% Y/Y Growth Remaining Performance Obligations$4.09B44% Y/Y Growth Non-GAAP Operating Margin 19.4%(3) Non-GAAP Total Cash & Marketable Securities$1.01B(4) Balance sheet strength Global Customers 14,500+~64% of Fortune 500 Customer Satisfaction 84 NPS(5) One of the highest in the Industry (1) Subscription ARR is a key business metric that refers to the annualized recurring contract value of all active, non-cancelablecustomer subscription agreements with subscription terms of any length at the end of the quarter, plus on-demand billings for the quarter multiplied by four.(2) Total Contract Value (TCV) Sales, or bookings, of Everpure'sEvergreen//One and similar consumption-and subscription-based offerings is an operating metric, representing the value of orders received during the period. (4) Consists of cash in banks, cash equivalents (highly liquid investments with an original maturity of three months or less), and available-for-sale securities. (3) See GAAP to Non-GAAP reconciliation in Appendix. (5) Per Audited NPS customer score for 2025.
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123456789101112 © 2026 Everpure | Financial Analyst Day Total revenue18%+CAGRFY22 –FY27E 38%Year-on-Year growthFY26 –FY27E Long-term growth across economic cycles and last 18-months acceleration $2.18B FY22FY23FY24FY25FY26FY27E $2.75B$2.83B$3.17B$3.66B $5.05B* *Midpoint of FY27E Guidance.
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123456789101112 © 2026 Everpure | Financial Analyst Day *Total Contract Value (TCV) Sales, or bookings, of Everpure's Evergreen//One and similar consumption-and subscription-based offerings is an operating metric, representing the value of orders received during the period. FY22FY23FY24FY25FY26FY27E $141M$181M $404M$393M$520M $1B+ Evergreen//One is driving recurring revenue and earningsFY27E Evergreen//One TCV*annualized run rate of $1B+
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123456789101112 © 2026 Everpure | Financial Analyst Day Non-GAAP operating income & margin32%+CAGROperating Income · FY22 –FY27E Long-term profitable growth and ability to scale 50%Year-on-Year growthFY26 –FY27E (1) (1) See GAAP to Non-GAAP reconciliations in Appendix.(2) Midpoint of FY27E Guidance. FY22FY23FY24FY25FY26FY27E $235M$457M$458M$559M$635M $950M 10.8% 16.6%16.2% 17.7%17.3% 18.8%(2) (2) Non-GAAP Operating IncomeNon-GAAP Operating Margin
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123456789101112 © 2026 Everpure | Financial Analyst Day Highest rate of R&D investment in the industry* ~19%of revenueR&D Expense · FY22 –FY26 Constantly enhancing unique platform to expand the core FY22FY23FY24FY25FY26 $418M$513M$556M$593M$714M 19.2% 18.6% 19.7% 18.7% 19.5% *See GAAP to Non-GAAP reconciliations in Appendix.Non-GAAP R&D expense Non-GAAP R&D as % of revenue
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123456789101112 © 2026 Everpure | Financial Analyst Day We are at an inflection point in our company’s history Our foundation is solid and our performance is acceleratingWe intend to grow beyond our core and capture share in new adjacent marketsOur long-term financial profile is resetting durably 01 02 03
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123456789101112 © 2026 Everpure | Financial Analyst Day Cumulative component cost increases in FY27 Since Q3FY26:•QLC NAND up 560% •TLC NAND up 465% •System COGS up 153% Q2 FY27Q1 FY27Q3 FY27Q3 FY26Q4 FY26
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123456789101112 © 2026 Everpure | Financial Analyst Day Gaining share through every NAND cycleEverpure external enterprise storage market share Note: Shares among the top six vendors in the External OEM (Ex-China) market. ■Inflationary (NAND price rising)■Deflationary (NAND price falling)-10% -5% 0% 5% 10% 15% CY '13 CY '26 Regime = YoY direction of worldwide NAND flash, all densities (ASP per GB): rising = inflationary, falling = deflationary. Cumulative share gain by regime +10.7 +3.514.2% Deflationary+1.1pp/yrInflationary+1.4 pp/yr 14.2pp+3.5pp +10.7pp
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123456789101112 © 2026 Everpure | Financial Analyst Day Source: Public filings (Non-GAAP product gross margin); Regime = YoY direction of worldwide NAND flash, all densities (ASP per GB): rising = inflationary, falling = deflationary. Product GM % premium to next nearest competitor(Avg. Q1 FY17–Q2 FY27) While maintaining premium marginsEverpurevs. next nearest competitor product gross margin (Non-GAAP) across NAND supply cycles* 66% 55% ■Inflationary (NAND price rising)■Deflationary (NAND price falling) next nearest competitor *See GAAP to Non-GAAP reconciliations in Appendix. Q1 FY17 Q2 FY27
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123456789101112 © 2026 Everpure | Financial Analyst Day Value premium driven by differentiated software Driving customer outcomesNPS score 84*Competitive configurations >10x More reliable>10-30x fewer service visits 5-10x Less laborto operateAutomation-driven cloud operating model Products are never obsoleteAlways-improving, non-disruptively 50%+*Lower TCO 2-5x*Less power and space 10x vs existing hard disk systems
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123456789101112 © 2026 Everpure | Financial Analyst Day We will track our progress in the core and new marketsCore + Core AIIncludes revenue from Core products on an aggregatedbasis:•FlashArray•FlashBlade•Subscription (Evergreen//One) … whether CPU or GPU attached (Core AI) New RevenueIncludes (on an aggregatedbasis):•Scale AI: EXA Solutions for Neoclouds•Modern Data Software: •Portworx, Pure Protect, EverpureCloud •Data Intelligence (1touch), Data Stream •Hyperscale Solutions: DirectFlashtechnology for Hyperscalers
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123456789101112 © 2026 Everpure | Financial Analyst Day 12%+ CAGR Historical TAM$50B Previous ~9%+HistoricalCAGR Core & Core AIHyperscale SolutionsModern Data Software 18%+ CAGR $51B 2026 $44B$9B$108B$5B $79B 2030E $97B $22B$207B$9B Scale AI 26%+ CAGR Note: Worldwide market excluding China, CY2026 and CY2030, product revenue basis. All figures are Everpureestimates based on third-party research and internal analysis; markets as defined by Everpure. TAM estimates reflect Everpure’scurrent solution set.Source: IDC, Gartner, TrendFocus, TechInsights(2026); Everpureanalysis.May not sum to total due to rounding. 22%+ CAGR Total Addressable Market
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123456789101112 © 2026 Everpure | Financial Analyst Day $34B $69B 12%+ CAGR 26%+ CAGR 55%+ CAGR 2026 $22B 2030E $34B Core & Core AI$9B $22BHyperscale Solutions$2B $7B Modern Data Software $1B $5B Scale AI 31%+ CAGR Serviceable Addressable Market Note: Worldwide market excluding China, CY2026 and CY2030, product revenue basis. All figures are Everpureestimates based on third-party research and internal analysis; markets as defined by Everpure. SAM reflects the portion of TAM addressable by Everpure'scurrent offerings, per Everpureestimates.Source: IDC, Gartner, TrendFocus, TechInsights(2026); Everpureanalysis.May not sum to total due to rounding.
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123456789101112 © 2026 Everpure | Financial Analyst Day FY28 –Preliminary revenue growth outlookTotal Revenue 38-41%FY26-FY28E CAGR FY26 $3.7B FY27E $5.03B -$5.07B FY28E $7.0B -$7.3B Core + Core AI RevenueNew Revenue 37% –38% YoY 39% –45% YoY 39-45%Total Revenue Year-on-Year growthFY27E –FY28E
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123456789101112 © 2026 Everpure | Financial Analyst Day 7pp to 9pp Margin Expansion FY28 –Preliminary operating income outlook*Total Non-GAAP Operating Income 64-73%FY26-FY28E CAGR Non-GAAP Operating IncomeNon-GAAP Operating Margin 80-100%Year-on-Year growthFY27E –FY28E Total Non-GAAP Operating Income 17.3% 18.7% -18.9% 24.0% -26.0% FY26 $635M FY27E $940M -$960M FY28E $1.7B -$1.9B 48% –51% YoY 80% -100% YoY *See GAAP to Non-GAAP reconciliations in Appendix.
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123456789101112 © 2026 Everpure | Financial Analyst Day We are at an inflection point in our company’s history Our foundation is solid and our performance is acceleratingWe intend to grow beyond our core and capture share in new adjacent marketsOur long-term financial profile is resetting durably 01 02 03
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123456789101112 © 2026 Everpure | Financial Analyst Day Long-term financial profile FY2027-30Rule of 40 score 40 Rule of 40 Rule of 40 = YoY Revenue growth + Non-GAAP Operating Margin. See GAAP to Non-GAAP reconciliations in Appendix. •Capex as % of Revenue in mid-single digits to support EG//1 and Hyperscale Solutions growth•Annual Non-GAAP ETR of approximately ~20%•Annual FCF % to track Annual OP % Rule of 40 –Durable reset•Revenue growth + Operating Profit margin; a durable growth-and-profitability profile through FY30Revenue growth sustaining•Core+CoreAI to continue share gain•New Revenue to represent ~20% of total revenue by FY30Subscription revenue•ARR 3-year CAGR of >20%•RPO 3-year CAGR of >25%Capex, effective tax rate and FCF0 16% 17.3% ~33 FY26 37–38% 18.7–18.9% ~56–57 FY27E 39–45% 24–26% ~60–70 FY28EFY29EFY30ERevenue growthNon-GAAP Operating Margin FY29E–FY30E Range ~50–70
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123456789101112 © 2026 Everpure | Financial Analyst Day Capital allocation priorities 01Invest in the core business•R&D led investments to maintain our industry lead in the core and grow penetration of New Markets•Sales & marketing to scale with revenue•Capex investment to support EG//1 and Hyperscale Solutions growth•Strengthen balance sheet 02Strategic M&A•Strengthen position in Core and New Markets, extending right-to-play into right-to-win•Target differentiated technology, talent and GTM reach that deepen existing customer relationships•Evaluate on strategic fit, risk-adjusted return and integration complexity, with discipline on price, accretion and balance sheet 03Return of excess capital•Continue practice of share buy-backs to offset SBC dilution: •Market buy-backs •Withhold-to-cover purchases•Execute select buy-backs in addition
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123456789101112 © 2026 Everpure | Financial Analyst Day FinancialAnalystMeeting2026
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123456789101112 © 2026 Everpure | Financial Analyst Day Q&A Charles GiancarloChairman and Chief Executive OfficerTarek RobbiatiChief Financial OfficerRob LeeChief Technology and Growth OfficerJohn “Coz” ColgroveFounder and Chief Visionary OfficerBill CerretaGM of HyperscalePrakash DarjiGeneral Manager, DDX
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123456789101112 © 2026 Everpure | Financial Analyst Day
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123456789101112 © 2026 Everpure | Financial Analyst Day Everpure FinancialAnalyst MeetingNon-GAAP Reconciliations
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123456789101112 © 2026 Everpure | Financial Analyst Day Product Gross Profit and Gross Margin (GAAP to Non-GAAP Reconciliation)
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123456789101112 © 2026 Everpure | Financial Analyst Day R&D Expense (GAAP to Non-GAAP Reconciliation)($ in Millions)FY22FY23FY24FY25FY26$(%)$(%)$(%)$(%)$(%)R&D (GAAP)$581.926.7 %$692.525.2 %$736.826.1 %$804.425.4 %$963.326.3 %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) $417.619.2 %$512.918.6 %$556.319.7 %$593.218.7 %$713.519.5 %
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123456789101112 © 2026 Everpure | Financial Analyst Day Operating Income & Margin (GAAP to Non-GAAP Reconciliation)
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123456789101112 © 2026 Everpure | Financial Analyst Day Product Revenue Equivalent (GAAP to Non-GAAP Reconciliation)($ in Millions, unaudited)The following table presents a reconciliation of GAAP product revenue growth, year over year, to Product Revenue Equivalent growth, year over year (1)GAAPproductrevenueforeachperiodisasreportedintheCompany'sQuarterlyReportonForm10-Qfortheapplicablequarter.Fourth-quarterproductrevenueisnotseparatelypresentedintheCompany'sAnnualReportonForm10-K;fourth-quarteramountsareasreportedintheCompany'sfourth-quarterearningsreleasefurnishedonForm8-Kfortheapplicableperiod,andmayalsobederivedbysubtractingnine-monthproductrevenuereportedinthethird-quarterForm10-Qfromfull-yearproductrevenuereportedintheForm10-K.(2)SubscriptionServicesTotalContractValue(TCV)isanoperatingmetricthatrepresentssalesofEverpure'sEvergreen//Oneandsimilarconsumption-andsubscription-basedofferings,representingthecontractvalueofordersreceivedduringtheperiod.SubscriptionServicesTCVisnotrevenueandisrecognizedaspartofRPOintheperiodbooked.RevenuefromthesesalesisrecognizedoverthecontractterminaccordancewithGAAP.(3)ThemanagementestimateappliedtoSubscriptionServicesTCVreflectsmanagement'sestimatethat70%ofsubscriptionsalesintheapplicableperiodiseconomicallyequivalenttoproductrevenueinthatperiod. ($ in Millions)Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27Product revenue (GAAP) (1)$ 494.7$ 372.2$ 446.3$ 534.8$ 618.5$ 576.5$ 686.8Subscription Services Total Contract Value (2)139.895.3125.5120.1179.2165.0277.1Management's estimate of the portion of Subscription Services TCV as equivalent to product revenue: 70% (3)97.966.787.984.1125.4115.5194.0Product Revenue Equivalent (Non-GAAP)$ 592.6$ 438.9$ 534.2$ 618.9$ 743.9$ 692.0$ 880.8 Year-over-year growthProduct revenue YoY growth7.3 %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 growth9.3 %13.5 %12.9 %18.6 %25.5 %57.7 %64.9 % DefinitionProduct 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 prepared in accordance with GAAP, and should not be considered in isolation from or as a substitute for GAAP product revenue.