Arista's Approach to Secure Observability

59 Our Approach to Capital Allocation FY2022 Net Income $1.4B 1. Maintain a healthy Balance Sheet (Fund the business / large aggressive competitors) 2. Invest to strengthen operations / position of existing business if we earn a reasonable return e.g. Working Capital investments 3. M&A (strategic opportunities) 4. Share repurchases to offset dilution and return cash to shareholders (if the price is below a reasonable range estimate of intrinsic value) 5. Dividends as business matures Copyright Arista 2023. All rights reserved. M&A $145M Share Repurchase $670M ARISTA 2022 Use of Cash & Investments ($384M) Retain in the Business Working Capital Investment $912M

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