#1e + Where Technology Means MoreⓇ ePlus inc. Investor Presentation August 2022 © 2022 ePlus inc. Confidential and Proprietary.#2Safe Harbor Statement Statements in this presentation that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from national and international political instability fostering uncertainty and volatility in the global economy including exposure to fluctuation in foreign currency rates, interest rates, and inflation, including increases in our costs and price increases to our customers which may result in adverse changes in our gross profit; the duration and ongoing impact of the COVID-19 pandemic, including but not limited to the impact and severity of new variants, vaccine efficacy and immunization rates, the closure of non-essential businesses and other associated governmental containment actions, and the increase in cyber-security attacks that have occurred while employees work remotely; significant and rapid inflation may cause price, wage, and interest rate increases, as well as increases in operating costs which may impact the arrangements that have pricing commitments over the term of the agreement; serious natural disruptions or catastrophic events, as well as extreme weather events; supply chain issues, including a shortage of IT products, may increase our costs or cause a delay in fulfilling customer orders, or increase our need for working capital, or completing professional services, or purchasing IT products or services needed to support our internal infrastructure or operations, resulting in an adverse impact on our financial results; reduction of vendor incentives provided to us restrictions on our access to capital necessary to fund our operations; significant adverse changes in, reductions in, or losses of relationships with our larger volume customers or vendors; our ability to implement comprehensive plans for the integration of sales forces, cost containment, asset rationalization, systems integration and other key strategies; our ability to secure our own and our customers' electronic and other confidential information and remain secure during a cyber-security attack; a possible decrease in the capital spending budgets of our customers or a decrease in purchases from us; disruptions or a security breach in our or our vendors' or suppliers' IT systems and data and audio communications networks; the possibility of additional goodwill impairment charges; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; our ability to adapt to changes in the IT industry and/or rapid changes in product offerings, including the proliferation of the cloud, infrastructure as a service, software as a service and platform as a service; maintaining and increasing advanced professional services by recruiting and retaining highly skilled, competent personnel, and vendor certifications; our ability to realize our investment in leased equipment; reliance on third-parties to perform some of our service obligations to our customers, and the reliance on a small number of key vendors in our supply chain with whom we do not have long-term supply agreements, guaranteed price agreements, or assurance of stock availability; domestic and international economic regulations uncertainty (e.g. tariffs, sanctions, and trade agreements); our ability to protect our intellectual property; our ability to successfully perform due diligence and integrate acquired businesses; the creditworthiness of our customers; our ability to raise capital, maintain or increase as needed our lines of credit with vendors or floor planning facility, or obtain debt for our financing transactions or the effect of those changes on our common stock price; our ability to reserve adequately for credit losses; our dependency on continued innovations in hardware, software and services offerings by our vendors, availability of those products from our vendors and our ability to partner with them; our failure to comply with public sector contracts or applicable laws or regulations; and other risks or uncertainties detailed in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and other periodic filings with the Securities and Exchange Commission and available at the SEC's website at http://www.sec.gov. We wish to caution you that these factors could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. All information set forth in this presentation is current as of the date of this presentation and ePlus undertakes no duty or obligation to update this information. 2022 ePlus inc. Confidential and Proprietary. © 2022 ePlus inc. 12 + e*#3©2022 ePlus inc. Confidential and Proprietary. Mark Marron Chief Executive Officer O 2022 ePlus inc. 13 e* +#4By the Numbers 30 Years as a leading, global technology integrator 11% Listed companies in business for 30+ years PLUS Nasdaq Listed 3,500+ customers 8 88 2022 ePlus inc. Confidential and Proprietary. 1,000+ OEM Vendor Partnerships 1,500+ employees مين ३ مه ماما e* 2,900+ certifications $2.62B* FY22 adjusted gross billings *See Non-GAAP Financial Information $1.82B FY22 net sales#5Experienced Leadership Team Mark Marron Chief Executive Officer Joined ePlus in 2005 35+ Years of Experience Elaine Marion Chief Financial Officer Joined ePlus in 1998 30+ Years of Experience Darren Raiguel Chief Operating Officer, President of ePlus Technology, inc. Joined ePlus in 1997 25+ Years of Experience 2022 ePlus inc. Confidential and Proprietary. Dan Farrell Senior Vice President, National Professional Services Joined ePlus in 2010 35+ Years of Experience Kley Parkhurst Senior Vice President, Corporate Development Joined ePlus in 1991 35+ Years of Experience Erica Stoecker General Counsel Joined ePlus in 2001 25+ Years of Experience Doug King Chief Information Officer Joined ePlus in 2018 25+ Years of Experience Ken Farber President, ePlus Software, LLC Joined ePlus in 2001 30+ Years of Experience © 2022 ePlus inc. 15 e +#6Expanding Footprint Resources to implement locally and globally + e* UK SINGAPORE INTERNATIONAL OFFICES INDIA REGIONAL OFFICE OSALES OFFICES MANAGED SERVICES CENTERS INTEGRATION CENTERS 30+ locations serving the U.S., Europe, and Asia-Pac 24/7/365 managed services operations and integration centers strategically placed throughout the U.S. 2,900+ certifications from the top IT manufacturers in the world © 2022 ePlus inc. 16#7CISCO. + + Hewlett Packard + Enterprise + NetApp® + DELL Technologies + paloalto + NETWORKS Independent Provider with Deep Strategic Relationships SELECT STRATEGIC PARTNERS + All core products plus data center, collaboration, security, enterprise software, and lifecycle services + ePlus has over 170 Cisco certified individuals Converged infrastructure, enterprise storage, networking and virtualization Cloud, server and storage solutions Software-Defined Wide-Area-Network (SD-WAN) Network storage (including All Flash Data Storage arrays), Hyperconverged Infrastructure (HCI) and services focused applications, file server consolidation, private and public cloud ePlus professionals maintain a variety of Dell Technologies engineering certifications Client, servers, networking, services, and storage including the legacy EMC offerings Broad next-generation platform for security from the network to cloud native to secure access services edge (SASE) as well as security operations, threat intelligence and incident response PURESTORAGE vmware rubrik A NUTANIX. intel CHECK POINT™ FORTINET f5 Gigamon® ADDITIONAL CATEGORY SPECIFIC PARTNERS Juniper ARISTA NETWORKS NVIDIA aws hp netskope VARONIS Qumulo impervą okta proofpoint Ui Path COHESITY COMMVAULT 2022 ePlus inc. Confidential and Proprietary. Veeam Google splunk> Lenovo ☑A kubernetes © 2022 ePlus inc. 17 e* +#8Broad and Diverse Customer Base TECHNOLOGY GOVERNMENT & EDUCATION TELECOM, ENTERTAINMENT & MEDIA FINANCIAL SERVICES HEALTHCARE OTHER AAdobe COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK Disney PENFED CREDIT UNION CHOC Children's. NewYork- Presbyterian EA Bloomberg CISCO n NetApp™ NIVERSITY THE 1868 FIPUB CONN SIGILLUM STATE OF THE ST PENNSY CALIFORNI Cold Spring Finra BREWING CO. verizon GEICO Bottomline 14% JOHNS HOPKINS UNIVERSITY II 14% 29% Percentages are based on net sales during the twelve months ended June 30, 2022. M 9% ALCOA BE THE MATCHⓇ Texas Children's Hospital Quest Diagnostics Yale NewHaven Health J jiffy lube NORTHROP GRUMMAN 16% 18% © 2022 ePlus inc. 18 e* +#9e + Where technology means more Helping customers use technology to successfully navigate business challenges is at the center of everything we do. SERVICES O C O O CLOUD DATA CENTER NETWORKING COLLABORATION AI/EMERGING ++ SECURITY FINANCING e + ©2022 ePlus inc. 19#10Accelerated Adoption Of Strategic Solutions ©2021 ePlus inc. Confidential and Proprietary. Customer transformation is accelerating, which plays to our strengths as having the resources to strategically focus on the fastest growing solutions. e* + Recalibration of Business Strategies caused by: + Global Pandemic + Talent Shortage + Increased Regulatory & Compliance Requirements + Complex / Distributed Environments + Appeal of "As a Service" © 2022 ePlus inc. | 10#11Supporting Digital Modernization Transformative technologies span the breadth of our solutions portfolio and provide customers with a solid but flexible foundation to pivot as needed. Refined over 30 years, our expertise and capabilities position us well to be a partner of choice as customer organizations navigate disruption and modernize across: e* + + Infrastructure + Storage and Backup + Applications + Finops + Distributed Computing (Private, Public, Hybrid) + Collaboration platforms + Security + Emerging technology ©2022 ePlus inc. Confidential and Proprietary + "X"-as-a-Service ePlus inc. 11#12Cloud Focused Solutions Building Connected Workforces Through Agility and Modernization e* + 2022 ePlus inc. Confident O HIO III O DATA CENTER Servers Storage MODERN DATA CENTER CLOUD Assessments Advanced PS/MS Workshops Traditional Backup Basic PS/MS EMS Converged/HCI Modern Data, Protection Automation, Containers Hybrid Cloud Platforms End-User Compute Design Migration Modernization Cloud Managed Services ePlus Cloud Hosted Services 2022 ePlus inc. | 12#13+ Security: Go Beyond and Drive Successful Business Outcomes ePlus designs and delivers effective, integrated cybersecurity programs centered on culture and technology, aimed at mitigating business risk, enabling innovation and empowering digital transformation. e* Security Technologies Advisory and Managed Services Secure Mission Critical Data + Network + Assessments + Endpoint + Workshops + Cloud + Consulting & Compliance + Application + + Data + Cyber Hygiene (as-a-service offerings) SOC Services + SecOps Reduce Your Attack Surface Stop Disruptive Cyber Threats We work with your organization to understand the skills, processes and technology in which you have already made investments and will tailor our approach to maximize your return, ensuring your organization is best positioned to mitigate critical risks. Secure Multi-Cloud Workloads Optimize Your Defenses 2022 ePlus inc. Confidential and Proprietary. O 2022 ePlus inc. | 13.#14ePlus Services: See the Forest and the Trees 閩 We bring deep and broad services expertise across thousands of customers and multiple industries to make the best decisions for your business and discover more from your technology. Strategize for more agility Architect for better outcomes Accelerate for faster ROI Optimize for greater resiliency e Consulting Services Assessments and Workshops Virtual Consulting Technical Consulting Business Consulting + A Strategist Professional Services Configuration Center Services Security Services Cloud Adoption Lifecycle + An Architect Training Services Technology Workshops Technical Training AI/ML/DL Training Boot Camps + A Trainer Optimized Services Managed Services Strategic Technology Staffing On-Demand Support Services + A Teammate +#15Targeted M&A Strategy with Track Record of Success ○ Future Com + July 2022 Cybersecurity Delivered. + Texas and the South-Central region + Cybersecurity, consulting, cloud security SMP + December 2020 + Upstate New York and the Northeast + Collaboration, Al, cloud, audio visual, data center, staffing A ABS TECHNOLOGY + August 2019 + Southern and Western Virginia + New customers, SLED focus, and managed services SLAIT Consulting + January 2019 + Southern and central Virginia + Security managed services and consulting, helpdesk, staffing; new customers IDS + September 2017 + Chicago and Indianapolis data centers + New geography and customers OneCloud + May 2017 Consulting + Cloud-based services, solutions and DevOps + Offices in Milpitas, CA and India Consolidated® communications + December 2016 (division of CCI) + Minneapolis, MN Cisco VAR + New geography and customers IGXGLOBAL + December 2015 + UK location to serve UK and global customers + Expand security offerings ©2022 ePlus inc. Confidential and Proprietary. © 2022 ePlus inc. | 15 e* +#16Well Positioned within the IT Ecosystem Our range of complex solutions and services places us in high end of the IT market e Vendors Distributors VARS IT Solutions Services/Integrators 21 - 67% GM 6-13% GM 15-19% GM 23-26% GM 29-32% GM .11.11. CISCO. DELL Technologies Hewlett Packard Enterprise NetApp Juniper NETWORKS 1 Based on approximate LTM GAAP gross margin. 2022 ePlus inc. Confidential and Proprietary. GROSS MARGIN 1 TD SYNNEX scansource AVNET DISTRIBUTION FOCUSED CDW Connection we solve IT Insight INCREASING CUSTOMER VALUE AND VENDOR MARGINS accenture + e* SERVICE ORIENTED © 2022 ePlus inc. | 16 +#17e GIVES BACK grit More... A Commitment to Corporate Social Responsibility BE THE MATCHⓇ Habitat for HumanityⓇ BCRF BREAST CANCER RESEARCH FOUNDATION e" TECH DAY OF PINK Lessige Challene BE THE MATCH ONE TREE PLANTED TOYS FOR TOTS 2022 ePlus inc. Confidential and Proprietary. BE THE MATCH $40,200!! PennState Health SOLES SOULS Children's Hospital WEANING OUT POVERTYS Covenant House DESTINATION: HOME TECH DAY OF PINK NewYork-Presbyterian KiDS Morgan Stanley Children's Hospital TURN 2 FOUNDATION, INC. © 2022 ePlus inc. | 17#18Who We Are + An Advisor + A Strategist + A Designer + A Trainer + A Problem Solver + An Architect + An Extra Set of Hands + A Teammate Our unparalleled expertise has been refined over more than three decades of hands-on engagement and experience, helping customers successfully navigate unforeseen and unprecedented challenges while maximizing the return on their technology investments. A Partner with: More depth. More breadth. More perspective. 2022 ePlus inc. Confidential and Proprietary. 1011 e* +#19©2022 ePlus inc. Confidential and Proprietary. Elaine Marion Chief Financial Officer O 2022 ePlus inc. | 19 e* +#20Strong Financial Results FYE March 31 / Trailing twelve months ended June 30, unaudited + Operations are conducted through two segments. The technology segment sells information technology products, software and services, while the financing segment provides lease and financing solutions. Net Sales and Adjusted Gross Billings * ($mm) $3,000 $2,500 Net Sales CAGR = 6% AGB CAGR = 8% Growth 14% Sales w GB Grow AGB wth = 14% 50.0% $2,690 $2,621 45.0% $2,350 $2,264 $2,228 + The majority of our net sales are derived from our technology segment, representing 95% of $2,000 $1,900 $1,919 $1,821 $1,863 40.0% $1,588 $1,568 $1,630 revenues in FY22. $1,500 $1,419 $1,373 35.0% + From FY18 to FY22, adjusted gross billings and net sales have increased at a compound annual rate $1,000 30.0% of 8% and 6%, respectively, as the gross to net adjustment has increased from 27.7% to 33.9% of the adjusted gross billings. $500 25.0% FY18** FY19 FY20 FY21 FY22 TTM 1022 TTM 1023 I Net Sales, Technology Adjusted Gross Billings Net Sales, Financing Gross to Net Adjustment % 2022 ePlus inc. Confidential and Proprietary. * See Non-GAAP Financial Information ** Amounts for FY18 have been adjusted to reflect the adoption of Topic 606. © 2022 ePlus inc. | 20 e* +#21Strong Financial Results + Service revenue includes professional services, managed services, and staffing services. FYE March 31 / Trailing twelve months ended June 30, unaudited Service Revenue ($mm) + From FY18 to FY22, service revenue has $300 increased at a compound annual rate of 17%. $240 + Service revenue as a percentage of Service Revenue CAGR = 17% $241 $202 $193 consolidated net sales grew from 9.1% in FY18 $180 to 13.2% in FY22. $149 $129 $120 2022 ePlus inc. Confidential and Proprietary. Service Revenue Growth = 18% 30.0% $248 24.0% $210 18.0% 12.0% 12.9% 13.2% 12.9% 13.3% 12.2% 10.9% 9.1% $60 6.0% $0 FY18 FY19 FY20 FY21 FY22 0.0% TTM 1022 TTM 1Q23 Professional Services Managed Services Service as % of Consolidated Net Sales © 2022 ePlus inc. | 21 e* +#22Strong Financial Results + Consolidated gross profit increased at a compounded annual rate of 9% from FY18 to FY22. Technology segment represented 89% of our total gross profit in FY22. FYE March 31/ Trailing twelve months ended June 30, unaudited $550 Gross Profit and Gross Margin ($mm) Gross Profit CAGR = 9% $461 $450 + Consolidated gross margin has increased from 22.8% in FY18 to 25.3% in FY22. $391 $394 $350 $323 $330 + Gross Profit Growth = 17% $401 40.0% $469 35.0% 30.0% Technology segment gross margin has increased from 20.9% in FY18 to 23.6% in FY22, as services capabilities continued to expand, and a larger portion of sales were recognized on a net basis. 2022 ePlus inc. Confidential and Proprietary. $250 25.0% 25.1% 25.3% 25.2% 24.6% 24.6% 24.1% 22.8% $150 20.0% $50 FY18 FY19 FY20 FY21 FY22 Gross Profit, Technology Gross Profit, Financing 15.0% TTM 1022 TTM 1Q23 Gross Margin © 2022 ePlus inc. | 22 e* +#23Strong Financial Results + From FY18 to FY22, net earnings increased at a compounded annual rate of 18% as a result of focusing on gross profit growth and cost management. $150 $120 $90 $60 + EPS and non-GAAP EPS CAGR were 19% and 15%, respectively, from FY18 to FY22. $30 $70 $82 $55 $63 $70 $69 $86 FYE March 31 / Trailing twelve months ended June 30, unaudited Net Earnings and Non-GAAP Net Earnings * ($mm) Net Earnings CAGR = 18% Non-GAAP Net Earnings CAGR = 14% Net Earnings Growth = 30% Non-GAAP Net Earnings Growth = 29% $106 $118 $118 $104 $92 $74 $81 $0 FY18 FY19 FY20 + Non-GAAP EPS excluded other income (expense), share based compensation, and acquisition and integration expenses, and the related tax effects; and the tax (benefit) expense due to the re-measurement of our deferred tax assets and liabilities at the new U.S. tax rate, and an adjustment to our tax expense in FY18 assuming a 21% U.S. federal statutory income tax rate for U.S. operations. 2022 ePlus inc. Confidential and Proprietary. FY21 FY22 TTM 1022 TTM 1Q23 ■Net Earnings ■Non-GAAP Net Earnings EPS and Non-GAAP EPS * $6.00 EPS CAGR 19% $4.80 Non-GAAP EPS CAGR = 15% EPS Growth = 30% Non-GAAP EPS Growth = 29% $3.60 $2.40 $3.93 $3.06 $3.19 $1.20 $1.97 $2.52 $2.33 $2.56 $2.57 $2.77 $4.39 $3.00 $3.42 $3.90 $4.40 $0.00 FY18 FY19 FY20 FY21 FY22 TTM 1022 TTM 1Q23 EPS Non-GAAP EPS * See Non-GAAP Financial Information. EPS and non-GAAP EPS have been retroactively adjusted to reflect the two-for-one stock split on December 13, 2021. © 2022 ePlus inc. | 23 e* +#24Strong Financial Results + Adjusted EBITDA represents net earnings before interest expense, depreciation and amortization, share based compensation, acquisition and integration expenses, provision for income taxes, and other income. Interest on notes payable and depreciation expense presented within cost of sales represent operating expenses of financing segment, as such they are not added back to net earnings. FYE March 31 / Trailing twelve months ended June 30, unaudited $200 Adjusted EBITDA * ($mm) $160 Adj. EBITDA CAGR = 13% $170 $128 $119 $120 $103 $100 $80 Adj. EBITDA Growth = 25% $136 20.0% $170 16.0% 12.0% 9.3% 8.0% 9.1% 8.2% 8.3% 7.2% 7.3% 7.5% $40 4.0% + From FY18 to FY22, adjusted EBITDA increased at a compounded annual rate of 13%. $0 FY18 FY19 FY20 FY21 FY22 0.0% TTM 1022 TTM 1Q23 + Adjusted EBITDA margin increased from 7.2% to Adjusted EBITDA Adjusted EBITDA Margin 9.3% from FY18 to FY22. 2022 ePlus inc. Confidential and Proprietary. * See Non-GAAP Financial Information © 2022 ePlus inc. | 24. e* +#25Q1 FY23 Financial Results Net Sales and Adjusted Gross Billings * ($mm) Gross Profit and Gross Margin ($mm) $1,000 Net Sales Growth = 10% AGB Growth = 11% $150 Gross Profit Growth = 8% $800 $701.9 $633.0 $120 $105.5 $600 $458.4 $416.6 $90 $400 $60 25.3% $200 $30 $0 $0 50.0% $113.5 40.0% 30.0% 20.0% 24.8% 10.0% 0.0% 1022 1Q23 1Q22 ■Net Sales, Technology Net Sales, Financing Adjusted Gross Billings Gross Profit, Technology 1023 Gross Profit, Financing Gross Margin Net Earnings and Non-GAAP Net Earnings * ($mm) EPS and Non-GAAP EPS * $50 Net Earnings Growth = (5%) $1.50 EPS Growth (3%) Non-GAAP Net Earnings Growth = 1% Non-GAAP EPS Growth 1% $40 $1.20 $30 $0.90 $20 $0.60 $0.98 $0.99 $26.4 $26.5 $0.87 $0.84 $10 $23.5 $22.3 $0.30 $0 $0.00 1Q22 1023 EPS Non-GAAP EPS 1022 1023 ■Net Earnings Non-GAAP Net Earnings 2022 ePlus inc. Confidential and Proprietary. * See Non-GAAP Financial Information. EPS and non-GAAP EPS have been retroactively adjusted to reflect the two-for-one stock split on December 13, 2021. © 2022 ePlus inc. | 25 + e*#26Growing Customer Facing Personnel + Acquiring consultative sales professionals to bring successful business outcomes to our customers. + Focused on growing engineering talent in cloud, security, and digital infrastructure. + Customer facing personnel increased by 303 from FY18 to FY22, which represented 91% of the total increase in headcount. 1,800 1,600 Employee Headcount Growth by Function 1,245 1,400 7 1,200 287 24% 1,000 800 451 600 400 500 200 + Leveraging our operational infrastructure as we expand. 0 March 31, 2018 2022 ePlus inc. Confidential and Proprietary. ■Sales and Marketing Administration and Internal IT 76% 1,577 6 317 20% 666 588 March 31, 2022 Professional Services ■Executive Management 80% © 2022 ePlus inc. | 26 e* +#27Strong Balance Sheet $ in millions + e* + $83 million in cash and equivalents Assets June 30, 2022 March 31, 2022 + Financing portfolio of $144 million, representing investments in leases and notes Cash and equivalents Accounts receivable Inventory Financing investments Goodwill & other intangibles $ 83 $ 155 530 479 247 155 144 126 151 154 + Portfolio monetization can be utilized to raise additional cash Property & equipment, deferred costs and other Total assets 101 97 $ 1,256 $ 1,166 + + $375 million credit limit with Wells Fargo Commercial Distribution Finance, LLC (WFCDF) ROIC 14.1% for the twelve months ended June 30, 20221 1 See details in Appendix - Return on Invested Capital 2022 ePlus inc. Confidential and Proprietary. Liabilities Accounts payable 304 281 Recourse notes payable 51 13 Non-recourse notes payable Other liabilities Total liabilities 27 21 198 190 $ 580 $ 505 Shareholders' Equity Equity Total liabilities & equity 676 661 $ 1,256 $ 1,166 © 2022 ePlus inc. | 27#28Customized Solutions. Measurable Results. Positioned squarely at the forefront of today's most transformative technologies, ePlus' solutions, services, and financing expertise help organizations imagine, implement, and achieve more from technology. Q & A e* + O ALL Cloud Data Center Security g Networking Collaboration Emerging Services Financial and Consumption Models © 2022 ePlus inc. | 28#29Appendix e + © 2022 ePlus inc. | 29#30Non-GAAP Financial Information $ in thousands Year Ended March 31, TTM Ended June 30, 2022 2021 2020 Technology segment net sales [1] $ 1,733,036 $ 1,507,954 $ 1,530,138 $ 2019 2018 1,329,520 $ 1,372,765 2022 2021 $ 1,781,463 $ 1,567,088 Costs incurred related to sales of third-party maintenance, software assurance and subs cirption/SaaS licenses, and servi Adjusted gross billings 887,578 755,911 697,747 $ 2,620,614 $ 2,263,865 $ 2,227,885 $ 589,475 1,918,995 526,920 $ 1,899,685 908,087 $ 2,689,550 783,390 $ 2,350,478 Net earnings Provision for income taxes $ 105,600 74,397 $ 69,082 $ 63,192 $ 55,122 $ 104,421 $ 80,555 41,284 32,509 26,877 23,038 28,769 40,918 33,831 Depreciation and amortization [2] 14,646 13,951 14,156 11,824 9,921 13,930 14,361 Share based compensation Acquisition and integration expense Interest and financing costs [3] 7,114 7,167 7,954 7,244 6,464 7,152 6,995 271 1,676 1,813 2,150 242 928 521 294 907 415 Other (income) expense [4] Adjusted EBITDA Adjusted EBITDA margin 432 (571) (680) (6,696) 348 $ 170,004 $ 9.3% 128,245 8.2% $ 119,359 $ 100,415 $ 7.5% 7.3% 102,774 7.2% $ 2,708 170,036 $ 9.1% (596) 135,803 8.3% [1] Amounts for fiscal year 2018 have been adjusted to reflect the adoption of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. [2] Amount excludes depreciation related to the financing segment. [3] Amount excludes interest on notes payable from our financing segment. [4] Other income, interest income, and foreign currency transaction gains and losses. 2022 ePlus inc. Confidential and Proprietary. © 2022 ePlus inc. | 30 e* +#31Non-GAAP Financial Information $ in thousands, except per share information Year Ended March 31, TTM Ended June 30, 2022 2021 2020 2019 2018 2022 2021 GAAP: Earnings before tax Share based compensation Acquisition and integration expense Acquisition related amortization expense [1] Other (income) expense [2] Non-GAAP: Earnings before taxes $ 146,884 7,114 $ 106,906 7,167 $ 95,959 $ 86,230 $ 83,891 $ 7,954 7,244 6,464 145,339 7,152 $ 114,386 6,995 271 1,676 1,813 2,150 242 10,072 9,116 9,217 7,423 5,978 9,559 9,584 432 (571) (680) (6,696) 348 2,708 (596) 164,502 122,889 114,126 96,014 98,831 164,758 130,611 GAAP: Provision for income taxes 41,284 32,509 26,877 23,038 28,769 40,918 33,831 Share based compensation 2,014 2,188 2,218 1,988 1,866 2,026 2,097 Acquisition and integration expense 78 490 522 621 69 Acquisition related amortization expense [1] 2,803 2,730 2,487 1,916 1,598 2,663 2,820 Other (income) expense [2] 120 (143) (200) (1,702) 101 771 (148) Re-measurement of deferred taxes [3] 1,654 Adjustment to U.S. federal income tax rate to 21% (7,635) Tax benefit (expense) on restricted stock 317 (40) 87 672 1,444 Non-GAAP: Provision for income taxes 46,538 37,322 31,959 26,434 28,418 256 46,634 229 38,898 Non-GAAP: Net earnings $ 117,964 $ 85,567 $ 82,167 $ 69,580 $ 70,413 $ 118,124 $ 91,713 GAAP: Net earnings per common share - diluted [4] $ 3.93 $ 2.77 $ 2.57 $ 2.33 $ 1.97 $ 3.90 $ 3.00 Share based compensation 0.20 0.19 0.22 0.18 0.17 0.19 0.19 Acquisition and integration expense 0.01 0.04 0.04 0.05 Acquisition related amortization expense [1] 0.26 0.24 0.25 0.19 0.16 0.25 0.25 Other (income) expense [2] Re-measurement of deferred taxes [3] Adjustment to U.S. federal income tax rate to 21% Tax benefit (expense) on restricted stock Total non-GAAP adjustments - net of tax 0.01 (0.02) (0.02) (0.16) 0.01 0.07 (0.01) (0.06) 0.27 (0.01) (0.02) (0.05) (0.01) (0.01) $ 0.46 $ 0.42 $ 0.49 $ 0.23 $ 0.55 $ 0.50 $ 0.42 Non-GAAP: Net earnings per common share - diluted [4] $ 4.39 $ 3.19 S 3.06 $ 2.56 $ 2.52 $ 4.40 $ 3.42 [1] Amount consists of amortization of intangible assets from acquired businesses. [2] Other income, interest income, and foreign currency transaction gains and losses. 2022 ePlus inc. Confidential and Proprietary. [3] Tax expense for the re-measurement of U.S. deferred income tax assets and liabilities at 21% federal income tax rate for U.S. operations. [4] Per share information has been reroactively adjusted to reflect the two-for-one stock split on December 13, 2021. 2022 ePlus inc. | 31 + e*#32Non-GAAP Financial Information $ in thousands, except per share information Technology segment net sales Costs incurred related to sales of third-party maintenance, software assurance and subscirption/SaaS licenses, and services Adjusted gross billings Net earnings Provision for income taxes Depreciation and amortization [1] Share based compensation Interest and financing costs [2] Other (income) expense [3] Adjusted EBITDA Adjusted EBITDA margin Three Months Ended June 30, 2022 2021 $ 448,785 $ 400,358 253,158 232,649 $ 701,943 $ 633,007 $ 22,339 $ 23,518 8,691 9,057 3,210 3,926 1,773 1,735 138. 159 2,153 (123) $ 38,304 S 38,272 8.4% 9.2% GAAP: Earnings before tax Share based compensation Acquisition related amortization expense [4] Other (income) expense [3] Non-GAAP: Earnings before provision for income taxes GAAP: Provision for income taxes Share based compensation Acquisition related amortization expense [4] Other (income) expense [3] $ 31,030 S 32,575 1,773 1,735 2,183 2,696 2,153 (123) 37,139 36,883 8,691 9,057 508 496 617 757 616 (35) Tax benefit (expense) on restricted stock Non-GAAP: Provision for income taxes Non-GAAP: Net earnings GAAP: Net earnings per common share - diluted Share based compensation Acquisition related amortization expense [4] Other (income) expense [3] Tax benefit (expense) on restricted stock Total non-GAAP adjustments - net of tax Non-GAAP: Net earnings per common share - diluted [5] [1] Amount excludes depreciation related to the financing segment. [2] Amount excludes interest on notes payable from our financing segment. 194 255 10,626 10,530 $ 26,513 26,353 $ 0.84 $ 0.87 0.04 0.05 0.06 0.07 0.06 - (0.01) (0.01) $ 0.15 0.11 $ 0.99 S 0.98 [4] Amount consists of amortization of intangible assets from acquired businesses. [5] Per share information has been reroactively adjusted reflect the two-for-one stock split on December 13, 2021. [3] Other income, interest income, and foreign currency transaction gains and losses. 2022 ePlus inc. Confidential and Proprietary. © 2022 ePlus inc. | 32 + e*#33Return on Invested Capital 2022 2021 $ in thousands Year Ended March 31, 2020 2019 2018 TTM Ended June 30, 2022 2021 Numerator Operating income $ Less: Taxes [1] Net operating profit after taxes $ 147,316 (41,396) 105,920 $ $ 106,335 $ (32,326) 74,009 $ 95,279 (26,678) 68,601 $ 79,534 $ (21,236) $ 58,298 $ 84,239 (28,894) 55,345 $ $ 148,047 (41,675) 106,372 $ $ 113,790 (33,659) 80,131 Denominator Recourse notes payable $ 13,108 $ 18,108 $ 37,256 $ 28 $ Non-recourse notes payable 21,178 Total stockholders' equity 660,738 Total invested capital $ 695,024 $ 56,061 562,410 636,579 35,502 486,145 $ 558,903 $ 48,619 424,253 472,900 1,343 50,935 $ 51,407 $ 17,013 26,442 15,287 372,603 676,288 583,619 $ 424,881 $ 754,137 $ 615,919 Return on invested capital [1] Based on the effective income tax rates. 2022 ePlus inc. Confidential and Proprietary. 15.2% 11.6% 12.3% 12.3% 13.0% 14.1% 13.0% © 2022 ePlus inc. | 33 + e*#34e + Where Technology Means MoreⓇ Investor Relations Kley Parkhurst, SVP (703) 984-8150 [email protected] ePlus inc. 13595 Dulles Technology Drive Herndon, VA 20171-3413 (703) 984-8400 / eplus.com