#1• DigitalOcean Earnings Presentation Q1 2022#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 Driving 30% + Revenue Growth Strong Revenue Growth Scaling ARR Total Customers Customers Spending More Than $50 per Month Customers Spending More than $50 per Month Percentage of Total Company Revenue ARPU Increase Improving Net Dollar Retention Q1'22 $127.3M $524M 623K 102.4K 84% $68.90 117% Q1'21 $93.7M $388M 585K 85.2K 80% $53.68 107% Y-O-Y Growth +36% +35% +6% +20% +400 bps +28% +1000 bps digitalocean.com 4#5Large and Rapidly Growing Market Opportunity Individuals and Companies with <500 Employees laaS $72Bn $25Bn $47Bn 2022 PaaS 27% CAGR Source: IDC: Public Cloud Service Spending Guide (January 2022) $145Bn $54Bn $91Bn 2025 5#643M Developers by 2025 Sources of Market Growth 100M SMBs globally + 14M Yearly net new SMBs Source: IDC: Understanding the Significance of the Worldwide Developer Forecast, 2020-2025 (March 2021) 6#7ņ $ ? 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 7#8DigitalOcean'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 Source Enabling faster, lower cost innovation without locking users into a proprietary stack 8#9DigitalOcean 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 2018-2022+ Essential elements to help developers and growing SMBs scale such as Managed Kubernetes, Managed Databases, Marketplace, App Platform, and Serverless 9#10Global Infrastructure Supports 623k Customers in 185 Countries 14 Data Centers Across 8 Regions San Francisco North America 38% of revenue 000 . Toronto New York Europe 29% of revenue London ROW 10% of revenue Customers in ~185 Countries Amsterdam ● Frankfurt Bangalore Singapore Notes: % based on Q1'22 revenue. *Sydney data center to open in Q4'22 200 Asia 23% of revenue Sydney* 10#11ņ 623K Total Customers with 102K Customers Paying More Than $50 per Month Total Customers (K) Customers paying more than $50/month (K) 546 70 (77%) 554 (%)- share of total company revenue Q1'20 73 (77%) 559 Q2'20 76 (78%) Q3'20 573 80 (79%) Q4'20 585 85 (80%) Q1'21 602 91 (82%) Q2'21 598 +6% 95 (83%) +20% Q3'21 609 99 (83%) Q4'21 623 102 (84%) ↑ Q1'22 digitalocean.com 11#12? Customer Case Study - Scaling with DigitalOcean and increasing monthly spend 700X over 2 years Customer Overview A two-year-old startup that provides a video chat platform to make virtual interactions more human. They enable people across the world to work, socialize, and learn online more effectively. They serve over 10M users and have hosted over 20,000 professional events. Why DigitalOcean? 201 Easy to test prototypes, & rapidly scale production apps Globally distributed data centers that reduce latency Significant savings vs. competition due to low cost bandwidth Stability of the infrastructure DigitalOcean Product Usage The video chat platform runs on DigitalOcean and utilizes most of our core products. 700X increase in DigitalOcean spend: Began in May 2020 with $276 spend and spending $193K/month as of March 2022 of Began in May 2020 with Droplets (Cloud VMs) Added Load Balancers in September 2020 Added Databases in November 2020 Added Kubernetes in November 2020 Added Spaces Object Storage in January 2021 Added Volumes Block Storage in August 2021 + Added Container Registry in November 2021#13• DigitalOcean " Financials#14ņ Quarterly Revenue ($M) $125 $100 $75 $50 $25 $0 Consistent Performance with Recent Acceleration (ARR) $524M in ARR Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 digitalocean.com 14#15? Scale with Free Cash Flow $800 $600 $400 $200 $0 26% $255 2019 Revenue (M) 25% $318 2020 Revenue 35% $429 2021 32% $566 2022E YOY Revenue Growth $100 $50 $0 -$50 -$100 -$45 2019 Free Cash Flow (M) Free Cash Flow -$57 2020 Notes: 2022E based on the midpoint of financial outlook as of May 4, 2022 6% $24 2021 9% $51 2022E Free Cash Flow as % of Revenue digitalocean.com 15#16ņ Strong Top Line Growth 40% 35% 30% 25% 20% 25% Q1'20 Revenue Growth 29% Q1'21 36% Q1'22 40% 35% 30% 25% 20% 26% Q1'20 ARR Growth 30% Q1'21 35% Q1'22 digitalocean.com 16#17ņ Improving Customer Economics 120% 110% 100% 90% Net Dollar Retention Rate 101% Q1'20 107% Q1'21 117% Q1'22 $70.00 $60.00 $50.00 $40.00 $30.00 $44.68 Q1'20 Monthly ARPU $53.68 Q1'21 $68.90 Q1'22 digitalocean.com 17#18ņ Financial Outlook Metric Revenue Non-GAAP Operating Margin Non-GAAP Diluted Net Income Per Share Free Cash Flow as a % of Revenue Fully Diluted Weighted Average Shares Outstanding Q2 2022 $133-$135M 10%-11% $0.09-$0.10 ΝΑ 122-124M FY 2022 $564-$568M 13%-15% $0.70-$0.71 8%-10% 123-125M digitalocean.com 18#19→ Appendix digitalocean.com#20→ Financial Highlights and KPIs Revenue (M) Revenue Growth ARR (M) ARR Increase (M) Adj. EBITDA (M) Non-GAAP Operating Income Net Dollar Retention Rate (NDR) Average Revenue Per Customer (ARPU) Total Customers Customers Spending More than $50/month Customers Spending More than $50/month percentage of total company revenue Capex as % of Revenue Q1'20 $72.8 25% $299 $14 $18.4 $(3.1) 101% $44.68 546k 69.8k 77% 44% Q2'20 Q3'20 $76.9 24% $313 $14 $23.9 $4.5 102% 554k 72.8k 77% $81.2 40% 24% $46.44 $48.58 $335 $22 $26.4 $6.0 104% 559k 76.5k 78% 32% Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 $87.5 26% $357 $22 $27.1 $6.2 105% $51.25 573k 80.2k 79% 35% $93.7 29% $388 $31 $30.7 $9.9 107% $53.68 585k 85.2k 80% 25% $103.8 35% $426 $38 $31.4 $9.6 113% $58.07 602k 90.7k 82% 25% $111.4 37% $455 $29 $36.4 $16.9 116% $61.97 598k 94.6k 83% 24% $119.7 37% $490 $35 $37.8 $14.1 116% $65.87 609k 99.3k 83% 27% $127.3 36% $524 $34 $38.5 $13.6 117% $68.90 623k 102.5k 84% 20% digitalocean.com 20#21? Adjusted Gross Profit and Adjusted Gross Margin (In thousands) Gross profit Adjustments: Depreciation and amortization Stock-based compensation Adjusted gross profit Gross margin Adjusted gross margin $ Three Months Ended March 31, 2022 80,570 22,262 432 103,264 63% 81% 2021 54,117 19,225 196 73,538 58% 79 % digitalocean.com 21#22ņ Non-GAAP Income from Operations and Non-GAAP Operating Margin (In thousands) (Loss) income from operations Adjustments: Stock-based compensation Loss on sublease Non-GAAP income from operations Operating margin Non-GAAP operating margin $ $ Three Months Ended March 31, 2022 (13,139) $ 25,981 788 13,630 (10)% 11 % $ 2021 3,254 6,624 9,878 3% 11% digitalocean.com 22#23? Historical Non-GAAP Income from Operations and Non-GAAP Operating Margin (In thousands) (Loss) income from operations Adjustments: Stock-based compensation Non-GAAP Income from operations Operating margin Non-GAAP Operating margin Q1'20 Q2'20 Q3'20 $(12,487) $1,778 9,382 2.757 $(3,105) $4,535 (17)% 4% Three Months Ended Q4'20 Q1'21 $(6,720) $1,638 $3,254 2% 6% 12,726 4,591 6,624 $6,006 $6,229 $9,878 (8)% 7% 2% 7% 3% 11 % Q2'21 Q3'21 Q4'21 $(2,630) $(1,671) $(10,139) 12,201 18,555 $9,571 (3)% 9% $16,884 (1)% 15 % 24,197 $14,058 (8)% 12% digitalocean.com 23#24? Adjusted EBITDA and Adjusted EBITDA Margin (In thousands) Net loss attributable to common stockholders Adjustments: Depreciation and amortization Stock compensation expense Interest expense (Gain) loss on Sublease Income tax expense Loss on extinguishment of debt Asset impairment(¹) Revaluation of warrants Acquisition related costs Other (2) Adjusted EBITDA Adjusted EBITDA margin $ $ $ Three Months Ended March 31, 2022 (18,123) 23,933 25,981 2,059 788 3,338 407 120 (46) 38,457 30 % $ 2021 (3,339) 20,951 6,624 2,256 996 3,435 (556) 315 30,682 33 % (1) Consists of internal-use software impairment charges related to software that is no longer being used. (2) Consists primarily of third-party consulting costs to enhance our finance function. digitalocean.com 24#25? Non-GAAP Net Income (loss) and Non-GAAP Diluted Net Income (loss) per Share (In thousands) GAAP Net loss attributable to common stockholders Stock-based compensation Amortization of acquired intangible assets Acquisition related costs Loss on sublease Income tax effects of non-GAAP adjustments (¹) Non-GAAP net income (2) Non-GAAP diluted net income per share (2) Weighted-average shares used to compute Non-GAAP diluted net income per share $ $ Three Months Ended March 31, 2022 (18,123) 25,981 462 (46) 788 309 9,371 $ 0.07 $ 126,555 2021 (3,339) 6,624 76 135 3,496 0.03 103,403 (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) Amounts are attributable for both the common and convertible preferred stockholders, treated as one class of stock. digitalocean.com 25#26ņ Free Cash Flow and Free Cash Flow Margin (In thousands) Net cash provided by operating activities Adjustments: Capital expenditures - property and equipment Capital expenditures - internal-use software development Free cash flow As a percentage of revenue: Net cash provided by operating activities Free cash flow margin $ $ $ Three Months Ended March 31, 2022 30,283 (22,976) $ (2,276) 5,031 $ 24 % 4% 2021 19,791 (22,398) (1,370) (3,977) 21 % (4)% digitalocean.com 26#27→ Non-GAAP Sales and Marketing Expense (In thousands) Sales and marketing Adjustments: Stock compensation expense Non-GAAP sales and marketing As a percent of revenue $ Three Months Ended March 31, 2022 19,044 (3,346) 15,698 12% digitalocean.com 27#28ņ Stock-Based Compensation (In thousands) Cost of revenue Research and development Sales and marketing General and administrative Total $ $ Three Months Ended March 31, 2022 432 S 9,720 3,346 12,483 25,981 $ 2021 196 2,636 1,137 2,655 6,624 digitalocean.com 28