#1Q4 2022 Financials May 2022 dynatrace#2Legal Disclaimer This presentation includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding management's expectations of future financial and operational performance and operational expenditures, expected growth, and business outlook, including our financial guidance for the first quarter and full year of fiscal 2023, statements regarding the impact of the COVID-19 pandemic and related economic conditions on our business and results of operations; statements regarding the impact of the war in Ukraine and related governmental sanctions on our business and results of operations; statements regarding the impact of past and potential future cyber security breaches on our business and results of operations; and statements regarding the size of our market and our positioning for capturing a larger share of our market. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, the effect of the COVID-19 pandemic, the war in Ukraine and cyber security breaches on our business operations and demand for our products as well as its impact on general economic and financial market conditions; our ability to maintain our subscription revenue growth rates in future periods, our ability to service our substantial level of indebtedness, market adoption of software intelligence solutions for application performance monitoring, digital experience monitoring and infrastructure monitoring, continued spending on and demand for software intelligence solutions, our ability to maintain and acquire new customers, our ability to differentiate our platform from competing products and technologies; our ability to successfully recruit and retain highly-qualified personnel; the price volatility of our common stock, and other risks set forth under the caption "Risk Factors" in our most recently filed annual report on Form 10-K and quarterly reports on Form 10-Q, and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. This presentation includes non-GAAP financial measures which have certain limitations and should not be considered in isolation, or as alternatives to or substitutes for, financial measures determined in accordance with generally accepted accounting principles in the United States ("GAAP"). The non-GAAP measures as defined by the Company may not be comparable to similar non-GAAP measures presented by other companies. The Company's presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that its future results will be unaffected by these or other unusual or non-recurring items. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is included in the Appendix to these slides. © 2022 Dynatrace, Inc. All Rights Reserved 2#31) 2) 3) Compelling Financial Profile ✓ G S Rapid ARR growth Predictable model Healthy growth dynamics Investing for growth, balancing healthy margins $995M Q4-22 ARR¹, Adjusted ARR¹ up 35% YoY CC 93% Q4-22 subscription revenue, up 31% YoY CC² $253M Q4-22 total revenue, up 31% YoY CC², $1B+ annual run rate 120%+ Dynatrace net expansion rate¹ for 16 consecutive quarters 21% FY22 New Logo growth YoY 35% and 47% YoY FY22³ R&D and S&M increased investments, respectively 25% FY22 uFCF margin See Appendix for definitions. Denotes growth when adjusted for constant currency exchange rates. Non-GAAP R&D, S&M and uFCF are non-GAAP financial measures. See Appendix for reconciliation of GAAP to non-GAAP financial measures. © 2022 Dynatrace, Inc. All Rights Reserved 3#41) 2) 3) Sustainable ARR Growth at CC % Total Adjusted ARR Growth (YoY)2,3 Annual and Quarterly Total ARR amounts shown in bar graphs are 'As Reported' metrics. See Appendix for definition. Perpetual license headwind was not material before Q2-21. NMF³ $601 Quarterly Total ARR ($M, as reported)¹ 35% $638 33% $722 35% $774 36% $823 38% $864 36% $930 35% $995 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 © 2022 Dynatrace, Inc. All Rights Reserved 4#51) 2) 3) 4) Total Adjusted ARR Growth at CC Q4-22 +$268M year over year or 35% at CC $1,100 $1,000 $ 900 $ 800 $ 700 $ 600 $ 500 $ 400 $300 $ 200 $774 Q4-21 Total ARR +38% YOY¹ $86 ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ New Logo Land +28% YoY² $268M of TTM Adjusted ARR Growth³ Represents total new logo dollars adding in the trailing-twelve-month period ending March 31, 2022, compared to the same TTM period a year ago ending March 31, 2021. Represents total net expansion dollars added in the TTM period ending March 31, 2022, compared to the same TTM period a year ago ending March 31, 2021. Represents total new logo and net expansion dollars added in the TTM period ending March 31, 2022, compared to as reported Adjusted ARR a year ago ending March 31, 2022. See appendix for definition. $ 181 Dynatrace Expansion ‒‒‒‒‒‒‒‒‒‒ 35% $1,041 Q4-22 4 Total Adjusted ARR © 2022 Dynatrace, Inc. All Rights Reserved LO 5#61) 2) 3) 4) FY22 ARR vs. High End of Guidance (as reported) $1,000 $950 $900 $850 $800 $996 FY22 Guidance (high end) +1% $9 Q4 Outperformance $1B+ $ 1,005 FY22 ARR Performance Before Impacts ² $4 Reflects midpoint of Total ARR guidance provided on our February 2, 2022 earnings call. Reflects Q4 performance compared to guidance prior to negative impacts associated with the further strengthening of the U.S. Dollar and discontinuation of business in Russia. Reflects impact to ARR when comparing exchange rates used at time of issuing guidance (December 31, 2021) with March 31, 2022 rates. Represents impact from discontinuation of business in Russia. Currency Impact $6 -1% FX + Russia Impact Russia Impact 4 $ 995 FY22 Actual Results © 2022 Dynatrace, Inc. All Rights Reserved 6#71) 2) 3) 4) New ARR Growth Quarterly ARR Expansion @ CC ex-Perp Annual New ARR ($M)¹ New ARR Growth @CC ex-Perp (YoY)² NMF³ $180 11% FY20 $201 11 -$4 -$18 FY21 36%4 $274 ➖➖➖➖ $6 -$27 FY22 FY 2020 16% 55% $36 $38 Q1 Q2 50% $65 Quarterly New ARR ($M)¹ FY 2021 (17) % (25) % 17% 35% $41 -$1 -$11 Q4 Q1 Q2 Q3 Q4 ⠀ 61% 63% 92% 22% $76 $67 $54 $49 Juli $30 $28 - $3 -$4 -$4 -$6 Q3 Total ARR ex-Perp Runoff @ CC Perp Runoff @ CC Impact from Russia Exit Annual and Quarterly New ARR amounts shown in bar graphs represent Total ARR at constant currency excluding the amount of Dynatrace perpetual license ARR at constant currency that had reached the end of its revenue recognition schedule, net of new perpetual ARR signed in the period. See Appendix for more detail. Constant currency growth rates reflect YoY growth when using exchange rates compared to the as reported results from the same quarter in the prior year. New ARR Growth was not meaningful prior to FY20. FY22 and Q4-22 New ARR growth rates represents total ARR at constant currency excluding the impact of quarterly perpetual license rolloff and the $6M impact associated with the discontinuation of business in Russia.. FY 2022 $93 16%4 $77 $6 -$5 -$12 Q1 Q2 Q3 Q4 © 2022 Dynatrace, Inc. All Rights Reserved 7#8Subscription & Total Revenue Growth at CC Annual Revenue ($M) Total Revenue Growth CC (YoY)¹ Subscription Revenue Growth CC (YoY)¹ 29% 42% $546 $488 FY20 28% 33% $704 $655 FY21 32% 32% $929 $870 FY22 30% 1) Constant currency growth rates reflect YoY growth when using exchange rates from the same quarter in the prior year. 2) Total revenue includes subscription, services and license revenue. 37% $156 $144 Q1-21 Subscription Revenue Total Revenue² 30% 35% $169 $158 Quarterly Revenue ($M) 25% 30% $183 $170 27% 32% $197 $183 29% 30% $210 $197 Q2-21 Q3-21 Q4-21 Q1-22 33% 33% $226 $213 33% 34% $241 $226 Q2-22 Q3-22 31% 31% $253 $235 Q4-22 © 2022 Dynatrace, Inc. All Rights Reserved 8#91) Efficient Model with Best-in-Class Margins¹ Non-GAAP Gross Profit Margin 88% 83% 25% FY20 89% 85% 31% FY21 88% 85% 32% FY22 Subscription GM Total GM Services GM Non-GAAP OPEX $'s & as % of Revenue ($M) These are non-GAAP financial measures. See Appendix to presentation for reconciliation of GAAP to non-GAAP financial measures. $321 15% 33% 11% FY20 FY22 Non-GAAP OPEX reflects increased investments in S&M and R&D $392 14% 31% 11% FY21 $552 14% 35% 10% FY22 R&D S&M G&A © 2022 Dynatrace, Inc. All Rights Reserved S#101) 2) Proven Profitable Business Model Non-GAAP Operating Income and Unlevered Free Cash Flow (uFCF) ¹,2 ($M) 24% $131 27% $150 FY20 29% These are non-GAAP financial measures. See Appendix to presentation for reconciliation of GAAP to non-GAAP financial measures. As reported dollars and percent of revenue. $207 34% $237 FY21 Non-GAAP Operating Income uFCF 25% 25% $234 $234 FY22 FY21 Non-GAAP Op Inc and uFCF driven by COVID-related cost savings. FY22 driven by increased investments in S&M and R&D. © 2022 Dynatrace, Inc. All Rights Reserved 10#11FY23 Guidance Summary Our guidance is based on foreign exchange rates as of April 30, 2022. Since March 31, 2022, the U.S. dollar has continued to strengthen, which results in a sizeable foreign exchange ("FX") headwind. For Fiscal 2023, we expect total FX headwind to be approximately $20 million dollars on ARR and revenue. In addition, on March 8, 2022, we announced that we would discontinue business in Russia and Belarus which results in a $6 million impact to ARR for Fiscal 2023. Growth rates for Adjusted ARR, Total revenue, and Subscription revenue are presented in constant currency in the table below to provide better visibility into the underlying growth of the business. Based on information available, as of May 18, 2022, Dynatrace is issuing guidance for the first quarter Fiscal 2023 and full year Fiscal 2023 as follows: 1) (in millions, except per share data) Total ARR As reported Constant currency Adjusted ARR growth Total revenue As reported Constant currency Subscription revenue As reported Constant currency Non-GAAP operating income Non-GAAP net income Non-GAAP net income per diluted share Diluted weighted average shares outstanding Free cash flow¹ Free cash flow margin See Appendix for definition. Full Year Fiscal 2023 Guidance $1,250 $1,265 26% - 27% 28% -29% 29% - 30% $1,142 $1,158 23% - 25% 27% -28% $1,071 - $1,086 23% - 25% 27% -28% $257 $266 $216 - $225 $0.74 $0.77 292 - 294 $330 $345 29% - 30% (in millions, except per share data) Total revenue As reported Constant currency Subscription revenue As reported Constant currency Non-GAAP operating income Non-GAAP net income Q1 Fiscal 2023 Guidance $261 $263.5 24% -26% 29% - 31% $244.5 $246.5 24% - 25% 29% - 30% $60 - $62 $50 - $52 Non-GAAP net income per diluted share Diluted weighted average shares outstanding All growth rates are compared to the first quarter and full year of fiscal 2022 unless otherwise noted. $0.17 $0.18 291 - 292 © 2022 Dynatrace, Inc. All Rights Reserved#12Definitions & Non-GAAP Reconciliations dynatrace#13Appendix - Definitions 1. Annual Recurring Revenue "ARR" is defined as the daily revenue of all subscription agreements that are actively generating revenue as of the last day of the reporting period multiplied by 365. We exclude from our calculation of Total ARR any revenues derived from month-to-month agreements and/or product usage overage billings. 2. Adjusted ARR is defined as ARR excluding the impact of foreign exchange rate fluctuations that occurred over the trailing twelve- month period. This calculation also excludes the headwind associated with the Dynatrace perpetual license ARR that rolled off in the trailing twelve-month period. 3. Adjusted ARR Growth is defined as year-over-year growth in Adjusted ARR divided by ARR as reported. 4. Subscription Revenue is defined as Software-as-a-service ("SaaS") agreements, Dynatrace® term-based licenses, for which revenue is recognized ratably over the contract term, Dynatrace perpetual licenses, which are recognized ratably over the term of the expected optional maintenance renewals, which is generally three years, and maintenance and support agreements. 5. Unlevered Free Cash Flow is defined as net cash provided by (used in) operating activities and adjusted to exclude cash paid for interest (net of tax), non-recurring restructuring and acquisition related costs, along with costs associated with one-time offerings and filings, less cash used in investing activities for acquisition of property and equipment. However, given our debt obligations, unlevered free cash flow does not represent residual cash flow available for discretionary expenses. 6. Free Cash Flow is defined as net cash provided by (used in) operating activities and adjusted to exclude cash used in investing activities for acquisition of property and equipment and may from time to time be subject to adjustments for non-recurring items. © 2022 Dynatrace, Inc. All Rights Reserved 13#141234567 1) Total ARR Expansion Trends¹ ($ in millions) Year-over-Year ARR (As Reported) Year-over-Year increase TTM FX headwind/(tailwind)² ARR - Constant Currency Year-over-Year ARR Increase - Constant Currency³ TTM Perpetual License Rolloff - Constant Currency4 ARR Excluding TTM Perp License Rolloff - Constant Currency Year-over-Year ARR Growth ex-Perp - Constant Currency Quarter-over-Quarter ARR (As Reported) Net New ARR (As Reported)5 Quarterly FX headwind/(tailwind) Net New ARR - Constant Currency Quarterly Perpetual License Rolloff - Constant Currency7 Net New ARR Excluding Perpetual License Rolloff - Constant Currency Year-over-Year ARR Growth ex-Perp - Constant Currency Q1-21 6) Quarterly FX impact using exchange rates from the prior quarter. Q1-21 601 37% 8 609 39% 4 613 39% 601 29 1 30 0 30 (17)% Q2-21 Q2-21 638 35% (9) 629 33% 7 635 35% 638 37 (11) 26 3 28 (25)% FY21 Q3-21 Q3-21 722 35% (18) 704 32% 8 711 33% 722 84 (12) 72 4 76 17% Values have been rounded and may not add up precisely to the totals 2) Year-over-year FX headwind/(tailwind) using exchange rates from the same quarter in the prior year. 3) Represents the year-over-year growth rate excluding the FX headwind/(tailwind). 4) Represents the cumulative trailing-twelve-month amount of Dynatrace perpetual license ARR that had reached the end of its revenue recognition schedule. 5) Defined as the quarterly increase/(decrease) in the current quarter as reported ARR compared to the previous quarters as reported ARR. Q4-21 Q4-21 774 35% (19) 755 32% 18 773 35% 774 52 3 56 11 67 61% TTM 201 (18) 183 18 201 11% 7) Represents the quarterly amount of Dynatrace perpetual license ARR that had reached the end of its revenue recognition schedule in constant currency, net of new perpetual license ARR signed in the quarter. Q1-22 Q1-22 823 37% (30) 794 32% 24 817 36% 823 49 (6) 43 6 49 63% Q2-22 864 35% (8) 856 34% 25 Q2-22 881 38% 864 41 10 50 4 54 92% FY22 Q3-22 Q3-22 930 29% 21 951 32% 34 985 36% 930 66 15 81 12 93 22% Q4-22 995 29% 20 1,014 31% 27 1,041 Q4-22 35% 995 65 1 66 5 71 7% TTM 221 19 240 27 268 33% © 2022 Dynatrace, Inc. All Rights Reserved 14#151) Non-GAAP Operating Income Reconciliation ($ in millions) Cost of Revenues Gross Profit Gross Margin Research and Development Sales and Marketing General and Administrative Amortization of other intangibles Restructuring and other Operating Income (loss)¹ Operating Margin GAAP $128 $576 82% 111 245 92 35 $92 13% Values have been rounded and may not add up precisely to the total. Stock- Based Comp. $(7) $7 (12) (24) (15) $58 FY21¹ Employer Payroll Tax on Employee Stock trans. $(1) $1 (1) (2) 1 $4 Amort of Other Intangibles $(15) $15 (35) $50 Restructuring & Other (3) 1 $3 Non-GAAP $ 104 $ 599 85% 98 220 74 I $207 29% GAAP $173 $757 81% $156 $362 $127 $30 $81 9% Stock- Based Comp. $(13) $13 $(21) $(36) $(29) $100 FY22¹ Employer Payroll Tax on Employee Stock trans. $(1) $1 $(2) $(2) $(1) $6 Amort. of Other Intangibles (16) $16 $(30) $46 Restructuring & Other $(1) $1 Non-GAAP $143 $786 85% $133 $324 $95 $234 25% © 2022 Dynatrace, Inc. All Rights Reserved#161) uFCF & FCF Reconciliation¹ Values have been rounded and may not add up precisely to the totals. ($ in millions) Free Cash Flow Net Cash Provided by Operating Activities PP&E Total FCF Unlevered Free Cash Flow Cash paid for interest expense Discrete tax items Transaction, restructuring, and other Total uFCF Interest Tax Adjustment uFCF (After tax adjustment) uFCF % of Revenue FY21 $ 220 (14) $ 206 12 18 3 $240 (3) $ 237 34% FY22 $ 251 (18) $ 233 8 (7) 1 $236 (2) $ 234 25% © 2022 Dynatrace, Inc. All Rights Reserved 16