Revenue and Financial Overview

in GAAP to Non-GAAP Reconciliations (Continued) ($ in millions) GAAP general and administrative expense Stock-based compensation Non-GAAP general and administrative expense 2021 2022 2023 $143.5 $169.0 $211.3 (27.1) (30.1) (37.9) $116.4 $138.9 $173.4 Non-GAAP general and administrative expense as a percentage of revenue 3.5% 3.1% 3.3% GAAP Gain on IP matter $(4.6) $(4.6) $(4.6) Gain on IP matter 4.6 4.6 4.6 Non-GAAP gain on IP matter $- $- $- -% -% ―% Non-GAAP gain on IP matter as a percentage of revenue GAAP total operating expense Stock-based compensation Amortization of acquired intangible assets Gain on IP matter Non-GAAP total operating expense Non-GAAP total operating expense as a percentage of revenue GAAP operating income Stock-based compensation Amortization of acquired intangible assets Gain on IP Matter Non-GAAP operating income Non-GAAP operating margin $1,908.8 $2,362.9 $2,826.5 (193.8) (199.3) (226.5) (5.6) (6.1) (4.0) 4.6 4.6 4.6 $1,714.0 $2,162.1 $2,600.6 51.3% 48.9% 49.0% $650.4 $969.6 $1,241.1 211.2 219.8 251.6 18.5 23.3 18.9 (4.6) (4.6) (4.6) $875.5 $1,208.1 $1,507.0 26.2% 27.3% 28.4% © Fortinet Inc. All Rights Reserved. | 31

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