Q2 2021 Financial Highlights & Product Launches

39 Approach to Capital Allocation FY 2020 ARISTA Share Repurchase 54% 1 Need to 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 3 M&A (if the deal actually makes sense from multiple angles) 4. Share repurchases (if the price is below a reasonable range estimate of intrinsic value) 5 Dividends as business matures Awake / Big Switch Acquisition 31% FY2020 Cash from Operations Copyright Arista 2021. All rights reserved. Retained in the Business 15%

View entire presentation