#1Q3 Palantir Business Update оо ©2023 Palantir Technologies Inc. 2023#2Disclaimer Safe Harbor Copyright © 2023 Palantir Technologies Inc. ("Palantir"). This presentation contains "forward-looking" statements within the meaning of the federal securities laws, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding our financial outlook, product development, distribution, and pricing, expected benefits of and applications for our software platforms, business strategy and plans (including strategy and plans relating to our Artificial Intelligence Platform ("AIP"), sales and marketing efforts, sales force, partnerships, and customers), investments in our business, market trends and market size, expectations regarding any current or potential customers, partnerships, or other business relationships or initiatives, opportunities (including growth opportunities), our expectations regarding our existing and potential investments in, and commercial contracts with, various entities, our expectations regarding macroeconomic events, our expectations regarding potential eligibility or inclusion in market indices, our expectations regarding our share repurchase program, and positioning, as well as assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, you can identify forward-looking statements by terminology such as "guidance," "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," and variations of these terms or the negative of these terms and similar expressions. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to risks detailed in our filings with the Securities and Exchange Commission (the "SEC"). You can locate these reports on our investor relations website (investors.palantir.com) or on the SEC website (www.sec.gov). If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. Except as required by law, we assume no obligation and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectations. We use the non-GAAP financial measures adjusted free cash flow and adjusted free cash flow margin; adjusted gross profit and adjusted gross margin; billings; adjusted operating income and adjusted operating margin; adjusted earnings (loss) per share ("EPS"), diluted; and adjusted expenses to help us evaluate our business, identify trends affecting our business, formulate business plans and financial projections, and make strategic decisions. Our definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Further, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statements of operations. Thus, these non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from, measures prepared in accordance with GAAP. We compensate for these limitations by providing reconciliations of these non-GAAP financial measures to the most comparable GAAP measures. We encourage investors and others to review our business, results of operations, and financial information in its entirety, not to rely on any single financial measure, and to view these non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. This presentation may contain statistical data, estimates, and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation. This presentation may also contain links to publicly-available websites, data, or other information. We have not independently verified the accuracy or completeness of such websites, data, or information and accordingly we make no representations as to their accuracy or completeness nor do we undertake to update such data or information after the date of this presentation. The inclusion of external links does not constitute endorsement by Palantir of the linked websites or the data or information contained therein. This presentation may refer to various growth rates when discussing our business. These rates reflect year-over-year comparisons unless otherwise stated. Any non-Palantir logos or trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the platform and products of Palantir. The appearance of any US Department of Defense (DoD) visual information does not imply or constitute DoD endorsements. By attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of such information, including the potential future performance of our business.#3Palantir stands with Israel. © 2023 Palantir Technologies Inc.#4Q3 Business Update Q3 2023 Highlights → Third consecutive quarter of GAAP operating profitability; 7% margin, up 2,000 basis points Y/Y ↑ Fourth consecutive quarter of GAAP profitability; GAAP EPS of $0.03 ↑ Revenue grew +17% Y/Y to $558 million US commercial revenue grew +33% Y/Y to $116 million US commercial customer count grew +37% Y/Y → Adjusted operating margin of 29%; fourth consecutive quarter of expanding adjusted operating margins → Cash from operations of $133 million; 24% margin → Adjusted free cash flow of $141 million; 25% margin Ⓒ2023 Palantir Technologies Inc. We define a customer as an organization from which we have recognized revenue during the trailing twelve months period. Adjusted operating margin excludes stock-based compensation expense and related employer payroll taxes. Adjusted free cash flow and adjusted free cash flow margin exclude employer payroll taxes related to stock-based compensation and purchases of property and equipment. Please see the appendix for reconciliations of these and other non-GAAP financial measures to the most directly comparable GAAP measures.#5Q3 Business Update Q3 2023 TTM Highlights $147 million GAAP Net Income $403 million US Commercial Revenue +23% Y/Y US Commercial Revenue Ⓒ2023 Palantir Technologies Inc. $36 million GAAP Operating Income $502 million Adjusted Free Cash Flow 24% Adjusted Free Cash Flow Margin $538 million Adjusted Operating Income 25% Adjusted Operating Margin Adjusted operating income excludes stock-based compensation and related employer payroll taxes. Please see the appendix for reconciliations of these and other non-GAAP financial measures to the most directly comparable GAAP measures. "TTM" refers to the trailing twelve months ending in the period indicated.#603 Business Update Palantir is proud to support the Ministry of Digital Transformation of Ukraine as they accelerate Ukraine's digital reconstruction with AIP. 66 We are working on a technology that will help the state save millions, make effective management decisions, and become a virtual assistant for the Government. Mykhailo Fedorov, Deputy Prime Minister for Innovation, Education, Science and Technology Development - Minister of Digital Transformation of Ukraine © 2023 Palantir Technologies Inc. Legend Find Q D Yuzhnoukrainsk Voznesensk 6 H24 Nova Odesa No value No value Mykolai # Hazardous Areas 30 km ++AIP & Hromadas 195 MIS Hola Prystan Kherson Hazardous Sqm No value 349717.7357912 No value P55 A Accidents 513 Bobrynets Novyi Buh Building Density 0 PB1 224512.6890355 21473584.00749 5 5 M14 News 5 # Educational Institution All data shown is notional. H23 Dolynska H11 ⒸMapbox © OpenStreetMap Improve this map Mapbox © OpenStreetMap Improve this map © Maxar Nova Kakhovka Hazardous Sqm Kryvyi Rih 349717.7357912 No value No value M14 M30 Zhovti Vody 0 Apostolow Distance To School 211.750585 4406.894007#703 Business Update PalantirMaster Class © 2023 Palantir Technologies Inc. HOSPITAL OPERATIONS Digitally Transforming Care Team Allocation Staff input Talent profile Manual process and/or no data trail Digital Process with data Note: Hospital beds data is based on hospital admissions Staff schedule preferences Ⓡ Nurse Leader Volume Initial schedule Posted Systen put Cout deta Ⓡ Other inpute Staffiss adjustment betale Burles Leader input Feedback Loup Our software is used by 16% of hospital beds across the US, up from roughly 1% a year ago. 66 We've been able to scale this across our acute in-patient units at 9 facilities, and we're looking ahead to the future. We'll be at 180+ hospitals... that's 90,000 nurses strong. Whitney Staub-Juergens DNP-HSL, MSN, RN, CCRN-K, NE-BC, VP of Clinical Operations at HCA Healthcare Watch Whitney's Master Class on Transforming Healthcare Staffing with Strategic Scheduling#803 Business Update Palantir ranked #1 vendor in the 2023 Al, Data Science, and Machine Learning Wisdom of Crowds® Market Study published by Dresner Advisory Services. Read the report to see why Copyright 2023 - Dresner Advisory Services © 2023 Palantir Technologies Inc. August 31, 2023 Dresner Advisory Services, LLC 2023 Ession Al, Data Science, and Machine Learning Market Study#903 Business Update At AIPCon@, our customers unveiled their AIP workflows. Launched just five months ago, AIP is already used by nearly 300 organizations across sectors ranging from energy to finance, hospitality, and healthcare. cintra ASSOCIATED MATERIALS desh INTUIT Panasonic ENERGY KINDER MORGAN MOLSON COORS beverage company Ⓒ2023 Palantir Technologies Inc. AIPCON HIGHLIGHTS INC. CAZ EATON INVESTMENTS fiserv. J.D. POWER STRATEGIC LEGAL PRACTICES A PROFESSIONAL CORPORATION NAVISTAR® Hertz CISCO RENFROE FOCUS BRANDS KOMATSU SURFAIR WesTrac CAT YAMATO Cleveland Clinic HCA+ Healthcare MILLER'S ALE HOUSE genpact aramark RBC Tampa (TGH General Hospital. Cardinal Health™ CONE HEALTH. FUJITSU sonnedix CONCORDANCE HEALTHCARE SOLUTIONS SOMPO ホールディングス WestRock CONⓇ CPKC HENCE NYSE AVIS UNITED ATD#10Q3 Business Update 66 We've got patients' lives at stake, ... so the ability to have the tool show us exactly where it found the information... is critically important. HCA* Healthcare AIPCON HIGHLIGHTS © 2023 Palantir Technologies Inc. Dr. Michael Schlosser, MD, MBA SVP Care Transformation and Innovation 66 We like to say that, 'We make what matters work.' Palantir is helping us focus on what matters. EATON Brian Fifarek Vice President Supply Chain Digitalization AIR It is important that in real-time we can send out help right away. So that we can not only make our operations more efficient, but it can save lives. 66 cintra Jen Duthie Head of Innovation#1103 Business Update AIP BOOTCAMP AIP BOOTCAMPS From 0 to Use Case in 5 days or less. Our new go-to-market approach for AIP We're on track to conduct AIP Bootcamps for more than 140 organizations by the end of November. These immersive, hands-on-keyboard sessions allow new and existing customers to build live alongside Palantir engineers, all working toward the common goal of deploying AI in operations. © 2023 Palantir Technologies Inc. 4 3/ Onboard and train users for rollout AIP ↳ Bootcamp Outcomes 1/ Understand how to apply AI to mission-critical operations 2/ Develop initial use cases in AIP#1203 Business Update FC > Schedule an AIP Bootcamp today © 2023 Palantir Technologies Inc. BOOTCAMP TESTIMONIAL H I approached this engagement very critically [...] It's hard for someone to come in and build a product in one day, especially when we have been working with other entities for months and hadn't seen results. TRINITY INDUSTRIES, INC. AIP ↳ Bootcamp We worked with Palantir and got the results that we wanted in less than eight hours. We presented to our CEO the very next day. Elliot Smith Data Scientist#13Q3 Business Update GOVERNMENT WEB SERVICES Enabling frontline innovators to go further, faster. By leveraging the technology built from our hard-earned experiences delivering to the government, our customers and partners can focus their attention on the next generation of development. © 2023 Palantir Technologies Inc. PALANTIR/SOFTWARE FOUNDATIONAL SOFTWARE OF TOMORROW. DELIVERED TODAY.™ EST. 2003 / PALO ALTO, CA HQ / DENVER, CO WORLD-CLASS SOFTWARE FOR DATA ANALYTICS O & DATA-DRIVEN DECISION MAKING [✔] © COPYRIGHT ALL RIGHTS RESERVED Announcing Palantir Government Web Services Technical Annex (O PALANTIR TECHNOLOGIES INC. -PALANTIR.COM#1403 Business Update FEDSTART FedStart transforms the usual 18 month, ~$2M accreditation process into something that can be done in as little as 6 weeks, and at a fraction of the cost. We're proud to welcome our 9 newest FedStart partners © 2023 Palantir Technologies Inc. MANIFEST ••Meaning SPARTA SCIENCE CALYPSOAI NIH National Center for Advancing Translational Sciences SPECTEROPS ABACUS.AI drant Palantir ↳ FedStart ::: Primer#1503 Business Update At Palantir's Software for Government Summit, Mark Brunner shared how Primer Al is reshaping defense with Al solutions, overcoming access and accreditation challenges through Palantir's FedStart program. 66 FEDSTART Palantir's FedStart program gave us that one-stop shop and an economically viable platform to FedRAMP High. This is a game-changer initiative for a company like ours. Mark Brunner, President, Public Sector, Primer Al Watch his full keynote © 2023 Palantir Technologies Inc. Palantir ↳ FedStart#16Q3 Palantir Financials оо ©2023 Palantir Technologies Inc. 2023#17Q3 Financials US commercial accelerated in Q3 2023 alongside AIP revolution +33% Y/Y US Commercial Revenue 102 +13% Q/Q US Commercial Revenue US Commercial Deals Closed Ⓒ2023 Palantir Technologies Inc. +65% Q/Q US Commercial Deals Closed 10x +37% Y/Y US Commercial Customer Count +12% Q/Q US Commercial Customer Count 3-Year US Commercial Customer Count Growth $252M US Commercial TCV +55% Y/Y On a Dollar-Weighted Duration Basis Total contract value ("TCV") is the total potential lifetime value of contracts entered into with, or awarded by, our customers at the time of contract execution. TCV presumes the exercise of all contract options available to our customers and no termination of contracts. However, the majority of our contracts are subject to termination provisions, including for convenience, and there can be no guarantee that contracts are not terminated or that contract options will be exercised. Dollar-weighted duration basis refers to the total value of contracts closed in the applicable period divided by the dollar-weighted average duration of those same contracts.#18Q3 Financials We achieved GAAP profitability for the fourth consecutive quarter. Our Q3 2023 GAAP earnings per share was $0.03, up $0.09 Y/Y. © 2023 Palantir Technologies Inc. GAAP Net Income (Loss) $120.0M $60.0M $ ($60.0M) ($120.0M) ($123.9M) Q3 2022 $30.9M Q4 2022 $16.8M Q1 2023 $28.1M Q2 2023 $71.5M Q3 2023#19Q3 Financials We achieved GAAP operating profitability for the third consecutive quarter. © 2023 Palantir Technologies Inc. GAAP Operating Income (Loss) $60.0M $40.0M $20.0M ($20.0M) ($40.0M) ($60.0M) ($17.8M) ($62.2M) Q3 2022 Q4 2022 $4.1M Q1 2023 $10.1M Q2 2023 $40.0M Q3 2023#2003 Financials US Commercial Revenue Growth $120M $100M $80M $60M $40M © 2023 Palantir Technologies Inc. $88M Q3 2022 +33% $116M Q3 2023 US Government Revenue Growth $250M $225M $200M $175M $150M $209M Q3 2022 +10% $229M Q3 2023#2103 Financials Commercial Revenue Growth $275M $250M $225M $200M $175M $150M $125M © 2023 Palantir Technologies Inc. $204M Q3 2022 +23% $251M Q3 2023 Government Revenue Growth $325M $300M $275M $250M $225M $200M $175M $274M Q3 2022 +12% $308M Q3 2023#22Q3 Financials Total revenue grew 17% Y/Y, driven by the continued acceleration of our US commercial business. © 2023 Palantir Technologies Inc. Total Revenue Growth $550M $500M $450M $400M $350M $300M $478M Q3 2022 +17% $558M Q3 2023#2303 Financials Average TTM Revenue per Top 20 Customers $55M $50M $45M $40M $35M $30M © 2023 Palantir Technologies Inc. $48M Q3 2022 +13% $54M Q3 2023 Average TTM revenue per customer is defined as (a) the Company's trailing twelve months of revenue as of each period divided by (b) the number of customers from which that period's revenue was derived. Average TTM revenue from our top twenty customers for each period presented is the average revenue recognized from the twenty customers with the greatest amount of revenue recognized in each respective period. Billings $550M $500M $450M $400M $350M $300M $509M Q3 2022 +8% Billings is defined as revenue plus the change in contract liabilities for the period presented. Please see the appendix for reconciliations of this and other non-GAAP financial measures to the most directly comparable GAAP measures. $550M Q3 2023#2403 Financials ADJ. GROSS MARGIN © 2023 Palantir Technologies Inc. 80% Q3 2022 82% Q4 2022 81% Q1 2023 81% Q2 2023 Adjusted gross margin excludes stock-based compensation. Please see the appendix for reconciliations of this and other non-GAAP financial measures to the most directly comparable GAAP measures. 82% Q3 2023#25Q3 Financials We continue to invest aggressively in AIP and the US while driving operating leverage at scale. © 2023 Palantir Technologies Inc. Q3 2023 adjusted operating income was $163M, representing a margin of 29% ● ADJUSTED OPERATING MARGIN $175M $150M $125M $100M $75M $50M $25M $81M 17% Q3 2022 $114M 22% Q4 2022 $125M 24% Q1 2023 $135M 25% Q2 2023 $163M O 29% Q3 2023#2603 Financials Customer Count 500 400 300 200 100 337 TTM ENDED SEP 30, 2022 © 2023 Palantir Technologies Inc. +9% 367 TTM ENDED DEC 31, 2022 +34% Y/Y +7% 391 TTM ENDED MAR 31, 2023 +8% 421 TTM ENDED JUN 30, 2023 +8% 453 TTM ENDED SEP 30, 2023 Commercial Customer Count 350 300 250 200 228 TTM ENDED SEP 30, 2022 +14% 260 TTM ENDED DEC 31, 2022 +45% Y/Y +8% 280 TTM ENDED MAR 31, 2023 +8% 302 TTM ENDED JUN 30, 2023 +9% 330 TTM ENDED SEP 30, 2023#27Q3 Financials During Q3 2023, we closed 80 deals of at least $1 million. 29 of which were at least $5 million. © 2023 Palantir Technologies Inc. The value of deals closed reflects the total contract value of contracts that have been entered into with, or awarded by, our government and commercial customers and includes existing contractual obligations and unexercised contract options available to those customers. 12 of which were at least $10 million.#28Q3 Financials We ended Q3 2023 with $3.3B in cash, cash equivalents, and US treasury securities and no debt. © 2023 Palantir Technologies Inc. Cash from Operations and Adjusted Free Cash Flow $150M $100M $50M CASH FROM OPERATIONS $47M Q3 2022 $133M Q3 2023 ADJUSTED FREE CASH FLOW $37M Q3 2022 $141M Q3 2023#2903 Financials Q4 2023 For fourth quarter 2023, we expect: Revenue of between $599 million - $603 million. Adjusted income from operations of between $184 million - $188 million. → GAAP net income. © 2023 Palantir Technologies Inc. FY 2023 For full year 2023: We are raising our revenue guidance to between $2.216 billion $2.220 billion. — We are raising our adjusted income from operations guidance to between $607 million $611 million. — → We continue to expect GAAP net income in each quarter of this year.#30Q3 Palantir Appendix оо ©2023 Palantir Technologies Inc. 2023#31Appendix Additional Metrics and Notes ($ MILLIONS) Total RPO Short-Term RPO Long-Term RPO Billings $ Ⓒ2023 Palantir Technologies Inc. $ $ $ Q3 2022 1,254 555 699 509 $ $ $ $ Q4 2022 973 517 456 387 $ $ $ $ 01 2023 936 529 407 614 $ $ $ $ Q2 2023 968 558 410 603 $ $ Ś $ Q3 2023 Net dollar retention was 107% in Q3 2023, impacted primarily by the headwinds from our commercial business in continental Europe. Net dollar retention does not include revenue from new customers that we acquired in the past 12 months and is therefore not reflective of the recent acceleration in our US commercial business. 988 560 428 550 Net dollar retention is calculated as (a) revenue for the trailing twelve months as of each period attributable to the customers as counted for the prior trailing twelve months divided by (b) revenue for the prior trailing twelve months recognized from those same customers. Remaining performance obligations ("RPO") reflects the values of contracts that have been entered into with, or awarded by, our government and commercial customers and represents non-cancelable contracted revenue that has not yet been recognized, which includes deferred revenue and, in certain instances, amounts that will be invoiced. We have elected the practical expedient, as permitted under Accounting Standards Codification 606 - Revenue from Contracts with Customers, to not disclose remaining performance obligations for contracts with original terms of twelve months or less.#32Appendix Reconciliation of Cash Flow from Operating Activities to Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin Adjusted free cash flow margin is calculated as adjusted free cash flow divided by revenue ($ THOUSANDS) Cash Flow from Operating Activities Add: Cash Paid for Employer Payroll Taxes Related to Stock-Based Compensation Less: Cash Used to Purchase Property and Equipment Adjusted Free Cash Flow Adjusted Free Cash Flow Margin © 2023 Palantir Technologies Inc. $ Q3 2022 47,066 3,930 (14,436) $ 36,560 8% Q3 2023 $ 133,443 8,969 (1,565) $ 140,847 25% TTM Q3 2023 $ 489,774 26,933 (15,172) $ 501,535 24%#33Appendix Reconciliation of Gross Profit to Adjusted Gross Profit & Adjusted Gross Margin Excluding Stock-Based Compensation Adjusted gross margin is calculated as adjusted gross profit divided by revenue ($ THOUSANDS) Gross Profit Add: Stock-Based Compensation Adjusted Gross Profit Adjusted Gross Margin © 2023 Palantir Technologies Inc. $ $ Q3 2022 370,269 10,525 380,794 80% $ Q4 2022 404,313 10,648 $ 414,961 82% $ $ Q1 2023 417,541 9,177 426,718 81% Q2 2023 $ 426,418 8,004 $ 434,422 81% $ $ Q3 2023 450,237 7,814 458,051 82%#34Appendix Reconciliation of Income (Loss) from Operations to Adjusted Operating Income and Adjusted Operating Margin Excluding Stock-Based Compensation and Related Employer Payroll Taxes ($ THOUSANDS) Income (Loss) From Operations Add: Stock-Based Compensation Employer Payroll Taxes Related to Stock-Based Compensation Adjusted Operating Income Adjusted Operating Margin © 2023 Palantir Technologies Inc. Q3 2022 $ (62,191) $ 140,308 3,133 81,250 17% Q4 2022 $ (17,826) 129,398 2,692 $ 114,264 22% Q1 2023 $ 4,115 114,714 6,285 $ 125,114 24% $ Q2 2023 10,074 114,201 10,760 $ 135,035 25% $ Q3 2023 39,983 114,380 8,909 $ 163,272 29% TTM Q3 2023 $ 36,346 472,693 28,646 $ 537,685 25%#35Appendix Reconciliation of GAAP Net Earnings (Loss) Per Share, Diluted to Adjusted Earnings (Loss) Per Share, Diluted (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) Net Income (Loss) Attributable to Common Stockholders Add/ (Less): Stock-Based Compensation Employer Payroll Taxes Related to Stock-Based Compensation Income Tax Effects and Adjustments [1] Adjusted Net Income Attributable to Common Stockholders Weighted-Average Shares Used in Computing GAAP Earnings (Loss) Per Share, Diluted Adjusted Weighted-Average Shares Used in Computing Adjusted Earnings Per Share, Diluted [2] Adjusted Earnings Per Share, Diluted Ⓒ2023 Palantir Technologies Inc. [1] [2] Income tax effect is based on an estimated long-term annual effective tax rate of 23.0% and 22.2% for the periods ended 2023 and 2022, respectively. The Company's estimated long-term annual effective tax rate excludes certain non-cash items, such as stock-based compensation, and is used in order to provide consistency across periods by eliminating the effects of certain items, such as changes in the tax valuation allowance. Includes an additional 69 million dilutive securities for the three months ended September 30, 2022 that were excluded from a GAAP perspective due to the Company's net loss position. $ Ś $ Q3 2022 (123,875) 140,308 3,133 (3,491) 16,075 2,073,265 2,142,506 0.01 $ $ $ Q3 2023 71,505 114,380 8,909 (39,775) 155,019 2,325,600 2,325,600 0.07#36Appendix Reconciliation of Revenue to Billings ($ THOUSANDS) Revenue Change in Contract Liabilities Billings © 2023 Palantir Technologies Inc. Q3 2022 $ 477,880 $ 30,807 508,687 $ $ Q4 2022 508,624 (121,589) 387,035 $ $ Q1 2023 525,186 88,614 613,800 $ $ Q2 2023 533,317 69,952 603,269 $ $ Q3 2023 558,159 (8,199) 549,960#37Appendix Reconciliation of Cost of Revenue and Total Operating Expenses to Adjusted Expenses ($ THOUSANDS) Total Expenses Less: Stock-Based Compensation Employer Payroll Taxes Related to Stock-Based Compensation Adjusted Expenses © 2023 Palantir Technologies Inc. $ $ Q3 2022 540,071 140,308 3,133 396,630 $ Q2 2023 523,243 114,201 10,760 $ 398,282 $ Q3 2023 518,176 114,380 8,909 $ 394,887