#1• DigitalOcean Earnings Presentation Q1 2023#2→ Safe Harbor This presentation contains forward-looking statements that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "estimate," "believe," "predict," "potential" or "continue" or the negative terms or other similar expressions intended to identify statements about the future. These statements speak only as of the date of this presentation and involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. We cannot assure you that the forward-looking statements in this presentation will prove to be accurate. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. You should, however, review the factors and risks and other information we describe in the reports we file from time to time with the SEC. This presentation includes statistical and other industry and market data that we obtained from industry publications and research, surveys and studies conducted by third parties as well as our own estimates of potential market opportunities. All of the market data used involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such data, industry publications and third-party research, surveys and studies generally indicate that their information has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. Our estimates of the potential market opportunities for our product candidates include several key assumptions based on our industry knowledge, industry publications, third-party research and other surveys, which may be based on a small sample size and may fail to accurately reflect market opportunities. While we believe that our internal assumptions are reasonable, no independent source has verified such assumptions. In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. The non-GAAP financial measures used by DigitalOcean Holdings, Inc. may differ from the non-GAAP financial measures used by other companies. A reconciliation of these measures to the most directly comparable U.S. GAAP measure is included in our filings with the SEC. digitalocean.com#3→ Our Mission DigitalOcean simplifies cloud computing so builders can spend more time creating software that changes the world. digitalocean.com#4ņ Key Performance Indicators Strong Revenue Growth Scaling ARR Adjusted EBITDA Margin ARPU¹ Adjusted Free Cash Flow Margin Repurchases of Common Stock Q1'22 $127.3M $523.7M 29% $76.45 4% $150.0M 1 The ARPU calculation excludes testers' revenue (approximately $1M/month) from the numerator and excludes the number of testers (approximately 60k) from the denominator. See slide 11 for our definition of testers. Q1'23 $165.1M $669.1M 34% $88.35 16% $265.9M Y-O-Y Growth +30% +28% +500 bps +16% +1200 bps +77% digitalocean.com 4#5Large and Rapidly Growing Market Opportunity Individuals and Companies with <500 Employees laaS $98Bn $36Bn $62Bn 2023 PaaS 26% CAGR Source: IDC: Worldwide Software and Public Cloud Services Spending Guide (Jan. 2023) $195Bn $78Bn $116Bn 2026 5#6ņ $ ? 8 What is the Problem DigitalOcean Solves for SMBs? Complex systems: Enterprise-focused vendors have complicated implementation processes which limit onboarding for startups and SMBs. Onerous pricing: Existing providers have intricate and unpredictable pricing models that lack transparency. Lack of support: Traditional public cloud vendors target large enterprise customers and smaller buyers often do not get the necessary level of support they require. Uncurated set of offerings: Hyperscalers have built their platforms to serve global enterprises with large dev teams. Ancillary products and services create challenges. digitalocean.com 6#7DigitalOcean's Offerings are Highly Differentiated Simplicity Infrastructure and Platform Technologies that can be spun up quickly, intuitively, and independently Support Live, personal support to all customers regardless of their spend or scale Community Free knowledge base with tens of thousands of pieces of content, including Q&A and tutorials to help developers and entrepreneurs Open Enabling faster, lower cost innovation without locking users into a proprietary stack 7#8DigitalOcean Offers a Cloud Platform Purpose Built for Developers and SMBs VPS Hosting 2012-2015 Droplets: Simple and scalable virtual machines Cloud Infrastructure 2015-2018 Key components underpinning cloud such as Volumes, Load Balancers, Spaces, and Firewalls Developer & SMB Cloud 2018-2023+ Essential elements to help developers and growing SMBs scale such as Managed Kubernetes, Managed Databases, Marketplace, App Platform, Functions and Managed Hosting 8#9Global Infrastructure Supports Customers in 190 Countries 15 Data Centers Across 9 Regions San Francisco North America 38% of revenue 000 . Toronto New York Europe 29% of revenue London ROW 10% of revenue Customers in 190 Countries Amsterdam ● Frankfurt Bangalore Notes: % based on Q1'23 revenue. Singapore 200 Asia 23% of revenue Sydney 9#10ņ 147K Customers Paying More Than $50 per Month Builders and Scalers (K) Revenue Contribution from Builders And Scalers 85 Q1'21 91 Q1'21 Q2'21 95 Q2'21 Q3'21 99 Q3'21 Q4'21 81% 82% 83% 84% 84% 103 Q4'21 Q1'22 Q1'22 105 Q2'22 85% Q2'22 142 +43% Q3'22 +2% 144 Q3'22 Q4'22 86% 86% 86% 147 Q4'22 Q1'23 Q1'23 digitalocean.com 10#11ņ Customer Concentration, Revenue Contribution and Growth Mar 2023 100% 75% 50% 25% 0% 15K 614K 131K 468K Customers Testers Learners Builders $56M $30M $18M $7M Monthly Revenue Scalers $1M (figures as of Mar-23) Total¹ Scalers Builders Learners Customer Growth² % y-o-y 12% 39% 43% 5% ARPU³ $88 $1,962 $135 $15 ARR Growth4 % 29% 24% 41% 19% Customer Growth2,5 q-o-q 1,860 366 1,959 -465 Customer Growth²% q-o-q 0% 2% 2% 0% 1. Scalers spend more than $500 per month, Builders spend between $50 and $500 per month, Learners spend less than $50 per month and have been customers for at least 3 months. Testers spend less than $50 per month and have been customers for less than 3 months and contribute revenue of approximately $1M per month. 2. 614K total customers excludes testers on an aggregate basis. 3. ARPU excludes testers' revenue and tester customer count from the calculation. 4. ARR growth is calculated by monthly revenue of March 2023 over the same period in March 2022. 5. Quarter over quarter customer growth includes net graduation less customer churn. digitalocean.com 11#12• DigitalOcean " Financials#13ņ Balanced Profile of Growth and Profitability $1,000 $750 $500 $250 $0 35% $429 FY'21 Revenue (M) Revenue 34% $576 FY'22 23% $710 FY'23E YOY Revenue Growth $400 $300 $200 $100 $0 Adjusted EBITDA (M) 32% $137 FY¹21 Adjusted EBITDA Notes: 2023E based on the midpoint of financial outlook as of May 9, 2023 34% $198 FY'22 38.5% $277 FY'23E Adjusted EBITDA Margin digitalocean.com 13#14ņ Return on Invested Capital Drivers $200 $150 $100 $50 $0 Adjusted Free Cash Flow (M) 6% $25 FY'21 Adj. Free Cash Flow 13% $78 FY'22 21.5% $153 FY'23E Adj. Free Cash Flow Margin 125 115 105 95 85 75 Diluted Weighted Average Shares Outstanding 118M FY'21 Notes: 2023E based on the midpoint of financial outlook as of May 9, 2023 118M FY'22 104M FY¹23E digitalocean.com 14#15ņ Healthy Customer Economics 120% 115% 110% 105% 100% 95% Net Dollar Retention Rate 107% Q1'21 117% Q1'22 107% Q1'23 $100.00 $90.00 $80.00 $70.00 $60.00 $50.00 $59.32 Q1'21 ARPU $76.45 Q1'22 $88.35 Q1'23 digitalocean.com 15#16? Financial Outlook Metric Revenue Adjusted EBITDA Margin Non-GAAP Diluted Net Income Per Share Adjusted Free Cash Flow Margin Fully Diluted Weighted Average Shares Outstanding Q2 2023 $169.5-$170.5M 37-38% $0.40-$0.41 ΝΑ ~103M FY 2023 (as of 2/16) $700-$720M 38-39% $1.65-$1.69 21-22% 114-116M FY 2023 (as of 5/9) $700-$720M 38-39% $1.70-$1.73 21-22% 103-105M digitalocean.com 16#17→ Appendix digitalocean.com#18→ Financial Financial Highlights and KPIs Revenue (M) Revenue Growth ARR (M) ARR Increase (M) Adj. EBITDA (M)¹ Net Dollar Retention Rate (NDR) Average Revenue Per Customer (ARPU)² Builders and Scalers (Customers that spend more than $50 per month) Builders and Scalers % of total company revenue Capex as % of Revenue Q1'21 $93.7 $103.8 29% $388 $31 $31.1 107% $59.32 Q2'21 Q3'21 Q4'21 81% 25% 35% $426 $38 113% $111.4 37% $31.2 $36.6 82% $455 25% $28 85.2k 90.7k 94.6k $63.93 $67.65 116% 83% 24% (1) Includes the impact of the adoption of ASC 842 for all periods within fiscal year 2022. (2) Restated to conform to our current definition of ARPU, which excludes testers. $119.7 37% $35 $490 $524 $37.8 116% $72.01 99.4k 84% Q1'22 $127.3 $133.9 $152.1 27% 36% $34 $37.2 117% $76.45 102.5k 84% 20% Q2'22 Q3'22 Q4'22 29% $544 $20 $45.5 112% $79.74 105.4K 85% 24% 37% $641 $97 118% $86.54 142.1K $61.5 $54.2 86% $163.0 21% 36% $659 $18 112% $87.52 144.2k 86% 19% Q1'23 $165.1 30% $669 $10 $56.2 107% $88.35 146.5k 86% 15% digitalocean.com 18#19ņ Adjusted EBITDA and Adjusted EBITDA Margin (In thousands) GAAP Net loss attributable to common stockholders Adjustments: Depreciation and amortization Stock-based compensation Interest expense Acquisition related compensation Acquisition and integration related costs Income tax expense Loss on extinguishment of debt Restructuring and other charges Restructuring related salary continuation charges Impairment of long-lived assets Other expense (¹) Adjusted EBITDA As a percentage of revenue: Adjusted EBITDA margin $ $ Three Months Ended March 31, 2023 (34,937) $ 28,913 27,594 2,189 7,601 1,301 7,608 20,869 1,907 553 (7,394) 56,204 34% $ 2022 (18,568) 23,933 25,981 2,059 (46) 3,338 407 908 (820) 37,192 29% (1) Other income (expense), net primarily consists of interest and accretion income from our marketable securities. digitalocean.com 19#20ņ Non-GAAP Net Income and Non-GAAP Diluted Net Income Per Share (In thousands) GAAP Net loss attributable to common stockholders Stock-based compensation Acquisition related compensation Amortization of acquired intangibles Acquisition and integration related costs Loss on extinguishment of debt Impairment of long-lived assets Restructuring and other charges Restructuring related salary continuation charges Income tax effects of non-GAAP adjustments(¹) Non-GAAP net income Deferred financing fees(2) Non-GAAP net income used in computing Non-GAAP diluted net income per share (2) Weighted-average shares used to compute Non-GAAP diluted net income per share Non-GAAP diluted net income per share $ $ $ $ Three Months Ended March 31, 2023 (34,937) $ 27,594 7,601 3,790 1,301 553 20,869 1,907 36 28,714 $ 1,879 30,593 $ 111,224 0.28 $ 2022 (18,568) 25,981 462 (46) 407 908 309 9,453 1,868 11,321 126,555 0.09 (1) The income tax effects of non-GAAP adjustments are calculated based on the applicable statutory tax rate for the relevant jurisdiction, except for those items which are non-taxable or subject to valuation allowances for which the tax expense (benefit) was calculated at 0%. The tax benefit for amortization is calculated in a similar manner as the tax effects of the non-GAAP adjustments. (2) Non-GAAP net income has been adjusted for the dilutive impact of deferred financing fees related to the Convertible Notes. digitalocean.com 20#21ņ Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin (In thousands) GAAP Net cash provided by operating activities Adjustments: Capital expenditures - property and equipment Capital expenditures - internal-use software development Restructuring related costs Restructuring related salary continuation charges Acquisition and integration related costs Adjusted free cash flow As a percentage of revenue: GAAP Net cash provided by operating activities Adjusted free cash flow margin $ $ Three Months Ended March 31, 2023 36.215 (23,314) (1,794) 11,261 1,907 1,468 25.743 22 % 16 % $ $ 2022 30,401 (23,045) (2.276) 97 5,177 24% 4% digitalocean.com 21#22ņ Non-GAAP Operating Expenses (In thousands) GAAP Cost of revenue Less: Amortization of acquired intangible assets Less: Stock-based compensation Less: Impairment of long-lived assets Non-GAAP Cost of revenue GAAP Research and development Less: Amortization of acquired intangible assets Less: Stock-based compensation Less: Impairment of long-lived assets Less: Acquisition related compensation Less: Acquisition and integration related costs Less: Restructuring related salary continuation charges Non-GAAP Research and development $ Three Months Ended March 31, 2023 71,879 $ 1,700 392 542 69,245 $ 38,272 $ 275 9,590 11 250 59 1,546 26,541 $ 2022 47,202 76 432 46,694 37,241 275 9,720 120 27,126 digitalocean.com 22#23ņ Non-GAAP Operating Expenses (cont.) (In thousands) GAAP Sales and marketing Adjustments: Less: Amortization of acquired intangible assets Less: Stock-based compensation Less: Restructuring related salary continuation charges Non-GAAP Sales and marketing GAAP General and administrative Less: Amortization of acquired intangible assets Less: Stock-based compensation Less: Impairment of long-lived assets Less: Acquisition related compensation Less: Acquisition and integration related costs Less: Restructuring related salary continuation charges Non-GAAP General and administrative $ Three Months Ended March 31, 2023 17,709 $ 1,815 3,332 261 12,301 $ 48,939 $ 14,279 7,351 1,242 100 25,967 $ 2022 19,044 3,346 15,698 37,424 111 12,483 788 - (46) 24,088 digitalocean.com 23