#1Q Palantir BUSINESS UPDATE -Q3 2020 November 2020 Ⓒ2020 Palantir Technologies Inc.#2Safe Harbor This presentation and the accompanying oral commentary contain "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, expectations of future operating results or financial performance, market size and growth opportunities, the calculation of certain of our key financial and operating metrics, plans for future operations, competitive position, technological capabilities, and strategic relationships, 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"), including in our prospectus filed with the SEC pursuant to Rule 424(b), dated September 22, 2020, our quarterly report on Form 10-Q for the quarter ended September 30, 2020, and other filings and reports that we may file from time to time with the SEC. You can locate these reports on our investor relations website (https://investors.palantir.com/financials/sec-filings/) 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 contribution margin; gross profit and gross margin, excluding stock-based compensation; and adjusted operating income (loss) and adjusted operating margin 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 statement 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 contains 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 also contains 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. 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 the potential future performance of our business. 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. QPalantir#3Congratulations to the U.S. Justice Department on its settlement with Purdue Pharma and fight against the Opioid epidemic in America. Supporting the Department of Justice with Palantir Gotham DEPARTMENT OF JUSTICE-OFFICE OF PUBLIC AFFAIRS Justice Department Announces Global Resolution of Criminal and Civil Investigations with Opioid Manufacturer Purdue Pharma and Civil Settlement with Members of the Sackler Family OCT 21, 2020 QPalantir READ MORE > DEPA D ARTIMENT DEPA DOMINA OF STITIA SE STICE STITIA SEQUITUR JUSTINS Yuri Gripas/AFP via Getty Images#4Congratulations to the World Food Programme on its Nobel Peace Prize. Supporting WFP with Palantir Foundry UN NEWS-PEACE AND SECURITY UN World Food Programme wins 2020 Nobel Peace Prize, as hunger mounts ОСТ 9, 2020 QPalantir READ MORE 71 WFP Food World Food Programme#5In awe of and grateful for the service of our Special Operators. October's rescue is yet another amazing accomplishment - one that often goes unrecognized. Supporting Special Operators NPR-WORLD U.S. Special Operations Forces Rescue American Hostage In Nigeria OCT 31, 2020 Q Palantir READ MORE > U.S. Army photo by Staff Sgt. Marcus Fichtl#6Q3 2020 Financial Highlights FIG 01 Revenue REVENUE Q Palantir $191M Q3 2019 +52% $289M Q3 2020 FIG 02 Adjusted Operating Income (Loss) ADJUSTED OPERATING INCOME (LOSS) - ADJUSTED OPERATING MARGIN (48%) ($92M) Q3 2019 $73M 25% Q3 2020 Adjusted operating income (loss) and adjusted operating margin exclude stock-based compensation, employer taxes related to stock-based compensation, and expenses primarily related to the direct listing. Refer to the Appendix for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures.#7COVID-19 forced institutions to transform quickly in order to survive. READ MORE 71 We are helping those customers do more with less. READ MORE 71 Palantir boar#8An energy supermajor deployed our ERP suite in hours. READ MORE 71 Within two weeks, they generated $57 million of cash savings and expect to generate $1 billion on an annualized basis. WATCH VIDEO 7 Q Palantir ARAS RODY PAST Tools ERP > Demos > Data > ERP Semantic Layer File Help SC Tx Q e Layout Undo/redo Clean Select Expand Color Find Remove Align O C MIL master 300 XD Layout Group by color by color Source (1) Semantic Layer ... (30) Ontology (3) Show Color Group Editor ● Legend Actions Share E Custom color Node color options ERP Tables (19) Knowledge Repos... (13) || All data s notional. a#9An aerospace customer signed the largest commercial deal we've ever done in the midst of a pandemic that shook their entire industry. WATCH VIDEO 7 $300 million FIVE-YEAR RENEWAL QPalantir Defect Status: All Aircraft Type: All Date From: Date To: Aircraft: Search for keywords: Categories: 28 December, 2018 ATAS: 29 December, 2018 Interior Positions: MIS Status: All Export Refresh X Triage Cabin Defects Seatmapping Status: Seatmapping OK ● Missing Seatmap SH Config □ Defect ID → 73662- 30066 10F 11F 108 SW- R4705 12E 120 451204- SW- 31499 V6867 412917- SW- 40062 C9004 203433- 9357 330686- 37632 990591- SW- Y4173 SW- 13061 SW- En V/373 Browse Aircraft Layouts Tail ✿ Issue Time 14E 180 170 2018-12-29 00:55 +0100 2018-12-28 10:40 +0100 2018-12-29 13:06 +0100 2018-12-28 07:59 +0100 Showing 1 to 10 of 10 entries 2018-12-29 04:50 +0100 2018-12-28 17.0/ 0100 17C 19E 21F 22F 19C 20C 21C Description 24F 25F 26F 27F 28F 29F 26E 27E 240 250 SEAT 43A IFE SCREEN INOP SEAT 43A IFE SCREEN INOP IFE COLLAPSE RESETS ITSELF 15J 280 IFE COLLAPSE RESETS ITSELF 15J FWD ESPRESSO MACHN IS NOT BREWING PROPERLY FWD ESPRESSO MACHN IS NOT DREWING PROPERLY Cat. ● IFE IFE IFE IFE Galley SH Config IFE Loc → 43A 43A 15J 15J KPIs Status All data Open Open Open Closed Unspecific Open Unspecific Closed Previous s notional.#10A Fortune 100 consumer goods company deployed ERP Suite to quickly respond to COVID-related disruptions. Now, our platforms are connecting the entire value chain - from procurement to distribution. Q Palantir AAAll Data Connection All sources> DISKOVER_ERP_IDES> Main ERP Context Q Search for tables by name... Syncs Sources Agents Webhooks Modules Workflows Proactive Customer Service A ERP COVID Overlay Supply Chain Resiliency Value Chain Visibility Working Capital Visibility Multi-ERP Harmonization Other Tables + Proactive Customer Service Missing Delivery Deadlines Welcome to Foundry ERP Explorer Here are some workflows that you can start ingesting. Click any of them to get started. Supply Chain Resiliency Supply Chain Resiliency Working Capital Visibility Inventory Management Other Tables A ERP COVID Overlay ITEMS TO SYNC Supply Chain Entities COVID Overlay Value Chain Visibility Bill of materials (BOM) Multi-ERP Harmonization Harmonization materials across ERP systems All data s notional.#11A top 5 pharmaceutical company is linking data from more than 2,000 clinical trials in Foundry to uncover trends across trials and securely analyze outcomes at a population level. QPalantir ... ☎ O Q x admin > ebond > Test File Help Starting population is defined as: All Patients no global filters Currently active sub-population: COVID Positive ✓ Keep patients where Q MedDRA Codes of: 1,384,396 patients. ↑ Save Expand > Change > + Add filter I Demographics Table Biomarker explorer Principal Component Analysis (PCA) Percentage 48% 42% 38% 36%- 34% 32% 30%- 28%- 24%- 22% 20% 18% 14%- 10% 8.0% - 6.0%- 2.0 %- 20 40 60 Patient - Current Age 80 100 54% 52% 50% 48% 44% 40% 36% 34% 32% 30% 28% 26% 24% 22% 20% 18% 16% 14% 10% 8.0 % 6.0% 2.0% Male Patient Gender Female 2.1% 2.0 % - 1.9% 1.8% 1.7% 1.5% 1.3%- 1.2% - 0.90% 0.80% 0.70% 0.60%- 0.50%- 0.40%- 0.30 % - 0.20% 0.10%- Chronic Diagnosis - Histology Serous (5/0996) 1 Count 1900 1800 1700 1400 1500 1400 1300 1200 1100 1000 900 800 700- 600 500 400 All data notional.#12Our software is becoming the de facto operating system of US and Allied Defense. READ MORE 71 Q Palantir 96 96#13Signed a two-year, $91 million contract with the U.S. Army Research Laboratory. Q Palantir BUSINESS WIRE U.S. Army Research Lab Selects Palantir Technologies Inc. for $91M Artificial Intelligence and Machine Learning Development OCT 1, 2020 READ MORE > Autonomy Project Everyone Saved Map layers Slope Terrain Analyze terrain and land cover in an area to inform movement Key terrain Detect important terrain features in an area Key terrain. Heatmap sup Data sources y aggregate on your map Heatmap O Range ring Range Ring Ballistic Share Tools Projection Bridges Calculate the distance between any given point and an object or target Line of Sight GRG builder Add groups of sequential reference points to your map to coordinate communications about important locations Route Create a route and search for relevant data along the path Online. Some sources cannot be reached. View Adding to Russian Far Ea... O D ⠀ Q Find objects and locations on the map SYMBOL ON # + New *** < Maritime Aircraft Fueling PR AEW Aircraft 57UVU 62737 90306 O 31.84 m O Search nearby READ MORE 71 # All data notional.#14Enabling Mission Command for NORAD & USNORTHCOM (N/NC) Joint All-Domain Command & Control (JADC2) • Scaled from an all-domain Common Operating Picture (COP) at the onset of COVID-19 to the JADC2 doctrinal paradigm across all mission areas • Inform accurate Course of Action (COA) development with integrated operational readiness data • Use Al to evaluate COAs and answer complex pattern-of-life questions in seconds, not hours QPalantir ... All data notional.#15Our software is becoming the infrastructure for the U.S. healthcare system - from R&D to distribution, from public to private. QPalantir ORNING **** POSITUK L + ion torrent ion torre iontorrent POM 10#16Signed a $36 million contract to support NCATS efforts, including cancer research, COVID-19 research, and PEPFAR. Q Palantir FEDSCOOP-ACQUISITION NIH expanding enclave for COVID-19 data with $36M Palantir contract SEP 29, 2020 READ MORE 71 Q Home Projects & files Recent Search..... APPS View all Object explorer Contour Il Reports Data connection. Data lineage >>> Code workbook Fusion Slate TEAMS View all Palantir Cohort Characterization * PROJECTS & FILES View all COVID-19 Hospital Visits N3C Progress Dashboard [Safe Harbor) Feature En... Project - Cohort Characte.. Full Data Harmonization.... How to set up a Research... Notifications Help & support NO Accoun 0 N3C COVID-19 HOSPITAL VISITS NIH) National Ins of Health Map View Analytics Another tab National COVID Cohort Collaborative Visits (Cumulative) 2087 VISITS 3 READ MORE 71 # of Days Past 01/01/2020 60 All data is publicly available at https://covid.cd2h.org/enclave_projects#17Powering N3C / UNITE, an effort from NIH to collaborate with clinical and research institutions. NIH's N3C is the largest COVID-19 clinical data asset in the world, with over 1 million patients across more than 30 hospitals - all assembled in Foundry in less than 5 months. WATCH VIDEO 7 THE VERGE The ambitious effort to piece together America's fragmented health data OCT 19, 2020 Q Palantir READ MORE > Home Projects & files Recent Q Search... APPS View all Q Object explorer Contour Il Reports Data connection Data lineage >>> Code workbook 10 Fusion Slate TEAMS Palantir View all Cohort Characterization E Notifications ? Help & support NQ Account HJ PROJECTS & FILES View all COVID-19 Hospital Visits N3C Progress Dashboard [Safe Harbor] Feature En... Project - Cohort Characte... Full Data Harmonization... How to set up a Research... SEARCH PROJECTS Projects to Join Title Title List of Existing Projects 0 Title Orthopaedic Surgery in the National COVID D N3C Pregnancy Task Team: COVID- 19 Incidence, N3C Cohort Characterization Use. Safety and Projects to Explore N3C ImmunoSuppressed /Compromised Task Nonconfidential Research Statement The purpose of this study is to analyze the admission rate and inpatient hospitalization measures associated with orthopedic patients who presented during the global COVID-19 pandemic. [N3C Operational] Phenotype and Data Acquisition [N3C Operational] Data gestion and Harmonization [N3C Operational] Collaborative Analytics [N3C Operational) This project seeks to understand associations between SARS-CoV-2 infection and treatment for COVID-19 with maternal and infant outcomes in the N3C cohort. We also seek to understand associations The aims of this project are to clinically and geographically characterize the adults (SA 1) and children (SA 2) in the NIH-funded National COVID Cohort Collaborative (N3C) database and their The coronavirus pandemic has generated enormous interest in Association of Dupilumab with Protection from Outcomes of Acute Pulmonary Embolism in COVID- Al-Assisted Operational Projects (N3C Technical Development) Nonconfidential Research Statement Individuals with compromised or suppressed immune systems (ISC) are considered high-risk for developing severe or life-threatening symptoms due to viral infections; however, little is known about the We hypothesize that IL-13 is a cause of acute hypoxic respiratory failure in COVID-19 by inducing type 2 inflammation in the lung. This study will explore Dupilumab rates of use and outcomes in COVID Nonconfidential Research Statement Lead Investigator Name Eli Levitt The [N3C Operational] Collaborative Analytics data user request allows a small set of N3C staff and community members, like common data model subject matter experts, medical specialist, informaticians, Description ELAINE HILL Tell Bennett Lead Investigator Name Amy Olex Higher incidence of acute pulmonary embolism has been noted in in COVID-19 is higher than in other viral infections. Although it is assumed Muhammad Gul that pulmonary embolism has an impact on the prognosis in COVID-19 COVID-19 is a severe infectious respiratory disease. In this pandemic, Asser Johanna Loomba Lead Investigator Name N3C operations to work with contributing sites to submit their data in ACT, PCORnet, OMOP, or TriNetX format. This team is also heavily involved in running various data quality checks on submitted data, N3C operations to extract, transform, and load data from contributing sites into a common format. Additionally, the team will contribute to the Christopher Chute cross-workstream efforts of normalize data elements into a common Emily Pfaff Ken Gersing Email Lead Investigator Email Email Email Email Lead Investigator Email Email Email Email Lead Investigator Email Email Email Lead Investigator Accessing Institution University of Alabama at Birmingham University of Rochester University Colorado Anschutz Medical Campus Lead Investigator Accessing Institution Virginia Commonwealth University University of Virginia University of Kentucky Lead Investigator Accessing Institution University of North Carolina Johns Hopkins University National Center for Advancing Translational Sciences Chapel Hill Is Domain Team Project No No No Review Status Accepted Accepted Accepted Review Status Accepted Accepted Accepted Review Status Accepted Accepted Accepted Allow Joinings Do not allow Do not allow Do not allow Allow Joining Do not allow All data is publicly available at https://covid.cd2h.org/enclave_projects Allow Allow#18Supporting the complex supply chain and logistics for COVID-19 vaccine distribution. READ MORE 7 QPalantir WALL STREET JOURNAL-BUSINESS Palantir to Help U.S. Track Covid-19 Vaccines OCT 22, 2020 READ MORE 71#19We are powering secure cross-border collaboration for pandemic response and beyond. QPalantir#20Powering the NHS England's allocation and distribution of more than 2.7 billion pieces of PPE, from port to patient. Q Palantir KW Supply Chain ...>> Supply Chain Network - Chained... ✰ File Help 1 go Supply Chain Resiliency Graph> View sub-graph. G Info Layers Selection Search Histogram Supply Chain Resiliency Graph Asset map of our Supply Chain showing forward and backward looking asset resiliency Add Section RELATED FILES Supply Chain:Data Lineage X Supply Chain Control Tower Supply Chain Model Management X Data Lineage Supply Chain Map View Model management view Supply Chain Control Tower r 1 1 1 y y y Select object J 1 O Q ^ 1 y 1 > -E- Show data from Base Simulation: Case Study 11/9/2020 4:50:18 PM J r y r n 1 1 y Time selection s y نکر Compare with Case Study 1, Simulation 2 11/9/2020 4:50:18 PM r r € Clear < Series Model: Case Study 1 Simulation Case Study 1 Time Advanced options 11/9/2020 04:50:18 PM Model 11/9/2020 4:50:18 PM 11/9/2020 4:50:18 PM + INPUTS 1 Surgical mask production 2 Respirator mask production 3 Ventilator production OUTPUTS Model 4 Plant Argon production capacity 5 Add input or output INPUTS 5 Surgical mask customer demand 6 Surgical mask Inventory 7 Surgical mask production OUTPUTS 8 Surgical mask customer_demand alert READ MORE 71 Add input or output UNIT ArgonPlantProduction... T 0.1.0 UNIT UNIT UNIT ↓ UNIT UNIT UNIT Save UNIT Baudin Vala SurgicalMaskDemand... 601.00 300.00 601.00 Add model -1052.00 Simulation 1 26.00 571.00 601.00 974.70 601.00 300.00 601.00 -1052.00 ✓ 10s 26.00 571.00 601.00 2. Share Baseline Vale Smation Simulation 2 Y 974.70 ✓10 All data s notional. Simon 2 c1 400 300.00 800 0.1.0- c1 -1050.00 ✓ Bs 26.00 571,00 400 773.70#21Supporting the President of Colombia through the nation's pandemic response. QPalantir de Ma indicadores G 2 Cases Artis Cases Fallecidos Tr Activ per 10mil Habitantes A Ch es por Tom Hab ... • Sel P via y lugn Detalle de DC Instituciones Prestadoras de Salud ... . Viser COMID-19 car Color 5.76 Casos 25.70% 12.60% 41.41% C Indicator General Carne 3.20% 1.30% B Para capa de can yan ECCIONE MUNICIPES-DIVISIÓN SUBUNICIPAL Instituciones Prestadores de Mac SELECCIONE UN DEPARTAMENTO PARA VER SUMOVILIDAD d TITLE A Archi Ma P T ht * Viser COVID-19 División Submunicipa Ningun C fav Inciones Pres n Hit Coun Mar Caribe READ MORE 71 Hapana 4.57 Ma 174.22% 16.57% All data s notional. Terras 1.10 5.31% 412.42 1.66%#22FINANCIAL UPDATE Q Palantir Ⓒ2020 Palantir Technologies Inc.#23We grew our revenue by 52% year-over-year in Q3 2020. QPalantir FIG 03 Revenue REVENUE GROWTH $191M Q3 2019 +52% $289M Q3 2020#24We continue to grow existing contracts as our customers derive more value from their software subscriptions. QPalantir FIG 04 Average Revenue Per Customer AVERAGE REVENUE $4.2M +38% 9 MONTHS ENDED SEPTEMBER 30, 2019 GROWTH $5.8M 9 MONTHS ENDED SEPTEMBER 30, 2020 FIG 05 Average Revenue of Top 20 Customers AVERAGE REVENUE GROWTH 9 MONTHS ENDED SEPTEMBER 30, 2019 $23.6M +36% $17.4M 11 9 MONTHS ENDED SEPTEMBER 30, 2020 We define a customer as an organization from which we have recognized revenue in a reporting period. For large government agencies, where a single institution has multiple divisions, units, or subsidiary agencies, each such division, unit, or subsidiary agency that enters into a separate contract with us and is invoiced as a separate entity is treated as a separate customer.#25Our adjusted operating income in Q3 2020 was $73 million, and adjusted operating margin was 25%. QPalantir FIG 06 Adjusted Operating Income (Loss) ADJUSTED OPERATING INCOME (LOSS) ADJUSTED OPERATING MARGIN (48%) ($92M) Q3 2019 $73M Q3 2020 25% Adjusted operating income (loss) excludes stock-based compensation, expenses primarily related to our direct listing, and employer payroll taxes related to stock-based compensation. Refer to the Appendix for reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures.#26Revenue from our top 20 customers continues to grow, while customer concentration is decreasing. QPalantir FIG 07 In the 9 months ended September 30, 2019, revenue from our top 20 customers comprised 68% of total revenue. 9 MONTHS ENDED SEPTEMBER 30, 2019 REVENUE FROM TOP 20 CUSTOMERS $348M FIG 08 In the 9 months ended September 30, 2020, revenue from our top 20 customers comprised 61% of total revenue. 9 MONTHS ENDED SEPTEMBER 30, 2020 REVENUE FROM TOP 20 CUSTOMERS $471M#27In Q3 2020, our commercial business grew 35% year-over-year, and we signed the largest commercial deal in our history. ● $300 million license renewal in the aerospace industry starting in 2021 • New deals across a variety of verticals, including consumer goods, healthcare, and financial services QPalantir FIG 09 Commercial Revenue REVENUE GROWTH $94M Q3 2019 +35% $127M Q3 2020#28In Q3 2020, our government business grew 68% year-over-year. ● ● Two-year, $91 million contract with the U.S. Army Research Laboratory READ MORE 71 $36 million, IDIQ award with the National Center for Advancing Translational Sciences READ MORE 71 QPalantir FIG 10 Government Revenue REVENUE GROWTH $97M Q3 2019 +68% $163M Q3 2020#29We accelerated growth in all three phases of our business model. FIG 11 Acquire Phase O REVENUE O CONTRIBUTION $19M QPalantir ($14M) 6 MONTHS ENDED JUNE 30, 2020 $41M ($4M) 9 MONTHS ENDED SEPTEMBER 30, 2020 FIG 12 Expand Phase ● REVENUE O CONTRIBUTION MARGIN $161M 35% 6 MONTHS ENDED JUNE 30, 2020 $254M 41% 9 MONTHS ENDED SEPTEMBER 30, 2020 FIG 13 Scale Phase O REVENUE O CONTRIBUTION MARGIN $296M 68% 6 MONTHS ENDED JUNE 30, 2020 $452M 69% 9 MONTHS ENDED SEPTEMBER 30, 2020#30In addition to customers accounted for by our three-phase model, revenue from customers acquired in the 9 months ended September 30, 2020 grew by 175% year-over-year. We are signing up new customers and converting them to significant revenue-generating positions in record time. QPalantir FIG 14 Revenue from Customers Acquired in the 9 Months Ended September 30, 2019 and 2020 GROWTH REVENUE $8.3M 9 MONTHS ENDED SEPTEMBER 30, 2019 +175% $22.8M 9 MONTHS ENDED SEPTEMBER 30, 2020 The customers acquired in the nine months ended September 30, 2019 were not in a cohort as of December 31, 2018, and were assigned a cohort as of December 31, 2019. The customers acquired in the nine months ended September 30, 2020 were not in a cohort as of December 31, 2019, and will be assigned a cohort as of December 31, 2020.#31Our gross margin, excluding stock-based compensation, was 81%, up from 70% in Q3 2019. QPalantir FIG 15 Gross Margin, Excluding Stock-Based Compensation GROSS MARGIN, EXCLUDING STOCK-BASED COMPENSATION 70% Q3 2019 81% Q3 2020 Gross margin, excluding stock-based compensation, is a non-GAAP financial measure. Refer to the Appendix for reconciliations of this non-GAAP financial measure to the most directly comparable GAAP measure.#32We have strong and increased visibility into future revenue across our customer base. We calculate expected average contract duration on a dollar-weighted basis. QPalantir FIG 16 Expected Average Contract Duration O EXPECTED AVERAGE DURATION (YEARS) 3.5 Q2 2020 3.6 Q3 2020 Expected average duration includes existing contractual obligations and assumes that our customers exercise all of the contractual options available to them and do not terminate for convenience.#33We continue to have a strong balance sheet. $1.8B Cash and cash equivalents as of September 30, 2020 QPalantir#34GUIDANCE Q Palantir Ⓒ2020 Palantir Technologies Inc.#35With strong visibility into future revenue and the continued acceleration of our business, we are raising our full-year 2020 revenue and adjusted operating income guidance. QPalantir FIG 17 2020 Revenue Guidance GUIDANCE GROWTH $1.071B 2020 +44% FIG 18 2020 Adjusted Operating Income Guidance GUIDANCE ADJUSTED OPERATING MARGIN $133M 2020 12% Adjusted operating income excludes stock-based compensation and employer payroll taxes related to stock-based compensation as well as direct listing related costs. A reconciliation of adjusted operating income to the corresponding GAAP measure is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, reconciling items that may be incurred in the future such as stock-based compensation, and employer payroll taxes related to stock-based compensation, the effect of which may be significant. For 2020 guidance, numbers reflect the midpoint of the estimated range for such measures.#36We are expecting 31% revenue growth in Q4 2020, and year-over-year revenue growth to be greater than 30% through 2021. QPalantir FIG 19 Q4 2020 Revenue Guidance GUIDANCE GROWTH $300M +31% FIG 20 Q4 2020 Adjusted Operating Income Guidance GUIDANCE ADJUSTED OPERATING MARGIN $47M 16% Q4 2020 Q4 2020 Adjusted operating income excludes stock-based compensation and employer payroll taxes related to stock-based compensation as well as direct listing related costs. A reconciliation of adjusted operating income to the corresponding GAAP measure is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, reconciling items that may be incurred in the future such as stock-based compensation, and employer payroll taxes related to stock-based compensation, the effect of which may be significant. For Q4 2020 guidance, numbers reflect the midpoint of the estimated range for such measures.#37APPENDIX Q Palantir Ⓒ2020 Palantir Technologies Inc.#38Reconciliation of Gross Profit to Gross Profit and Gross Margin, Excluding Stock-Based Compensation ($k) Gross Profit Add: Stock-Based Compensation Gross Profit, Excluding Stock-Based Compensation Gross Margin, Excluding Stock-Based Compensation QPalantir Q3 2019 $125,468 $7,183 $132,651 70% Q3 2020 $140,026 $94,385 $234,411 81% All figures in reconciliation tables are unaudited. The tables present direct or indirect reconciliations of the selected non-GAAP financial measures to the most comparable GAAP financial measures.#39Reconciliation of Loss from Operations to Contribution Margin ($k) Loss from Operations Add: Research and Development Expenses, Excluding Stock-Based Compensation General and Administrative Expenses, Excluding Stock-Based Compensation Stock-Based Compensation Contribution Contribution Margin QPalantir 6 MONTHS ENDED JUNE 30, 2020 ($169,330) $99,686 $119,325 $181,955 $231,636 48% 9 MONTHS ENDED SEPTEMBER 30, 2020 ($1,017,107) $156,832 $226,455 $1,028,914 $395,094 51% All figures in reconciliation tables are unaudited. The tables present direct or indirect reconciliations of the selected non-GAAP financial measures to the most comparable GAAP financial measures.#40Reconciliation of Loss from Operations to Adjusted Operating Income (Loss) and Adjusted Operating Margin ($k) Loss from Operations Add: Stock-Based Compensation and Related Employer Payroll Taxes Non-Recurring Charges Adjusted Operating Income (Loss) Adjusted Operating Margin QPalantir Q3 2019 ($144,140) $51,763 ($92,377) (48%) Q3 2020 ($847,777) $867,131 $53,737 $73,091 25% All figures in reconciliation tables are unaudited. The tables present direct or indirect reconciliations of the selected non-GAAP financial measures to the most comparable GAAP financial measures. Non-recurring charges includes charges related to the Direct Listing and public company readiness initiatives.