HashiCorp Results Presentation Deck

Non-GAAP Operating Expenses Quarterly Non-GAAP Operating Expenses¹ (% of Revenue) Annual Non-GAAP Operating Expenses¹ (% of Revenue) Non-GAAP Operating Margin 16% 32% 72% 13% -39% 28% 61% 18% -21% 30% FY2020 FY2021 FY2022 64% -27% 72% 76% 73% 35% 34% 32% 18% 16% Q1 Q2 15% Q3 FY2020 -43% -46% -39% 1. Non-GAAP metrics are calculated on a Non-GAAP basis. See appendix for a reconciliation of Non-GAAP financial measures. 67% 29% 73% 32% 16% 15% Q4 Q1 -31% -39% 66% 30% 13% Q2 57% 12% 26% 25% 26% 53% FY2021 -29% -14% 13% 57% Q3 Q4 Q1 -9% 18% -20% 66% Non- GAAP G&A Non-GAAP R&D Non-GAAP S&M 33% Q2 64% 16% 16% 31% -31% 2 FY2022 66% 31% 22% Q3 Q4 -24% -32% 17

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