Cloudflare Investor Presentation Deck

GAAP to Non-GAAP Reconciliation (Annual) CLOUDFLARE © Copyright Cloudflare, Inc. GAAP Cost of Revenue Less: Stock-based Compensation Expense & Related Payroll Taxes Less: Amortization of Acquired Intangible Assets Non-GAAP Cost of Revenue GAAP Gross Profit Add: Stock-based Compensation & Related Payroll Taxes Add: Amortization of Acquired Intangible Assets Non-GAAP Gross Profit GAAP Gross Margin Non-GAAP Gross Margin GAAP Sales and Marketing Less: Stock-based Compensation & Related Payroll Taxes Non-GAAP Sales and Marketing GAAP S&M Expense as a % of Revenue Non-GAAP S&M Expense as a % of Revenue GAAP Research and Development Less: Stock-based Compensation & Related Payroll Taxes Less: Acquisition-related and other expenses Non-GAAP Research and Development GAAP R&D Expense as a % of Revenue Non-GAAP R&D Expense as a % of Revenue GAAP General and Administrative Less: Stock-based Compensation & Related Payroll Taxes Less: Acquisition-related and other expenses Non-GAAP General and Administrative Expense GAAP G&A Expense as a % of Revenue Non-GAAP G&A Expense as a % of Revenue GAAP Loss from Operations Add: Stock-based Compensation & Related Payroll Taxes Add: Amortization of Acquired Intangible Assets Add: Acquisition-related and other expenses Non-GAAP Loss from Operations GAAP Operating Margin Non-GAAP Operating Margin 2019 $63,423 -$716 -$125 $62,582 $223,599 $716 $125 $224,440 78% 78% $159,298 -$8,709 $150,589 56% 52% $90,669 -$13,037 $77,632 32% 27% $81,578 -$14,165 $67,413 28% 23% -$107,946 $36,627 $125 -$71,194 -38% -25% 2020 $101,055 -$1,466 -$3,081 $96,508 $330,004 $1,466 $3,081 $334,551 77% 78% $217,875 -$17,678 $200,197 51% 46% $127,144 -$30,497 -$5,725 $90,922 29% 21% $91,753 -$13,875 -$554 $77,324 21% 18% -$106,768 $63,516 $3,081 $6,279 -$33,892 -25% -8% 2021 $147,134 -$3,703 -$2,946 $140,485 $509,292 $3,703 $2,946 $515,941 78% 79% $328,065 -$32,869 $295,196 50% 45% $189,408 -$61,056 $128,352 29% 20% $119,503 -$19,706 -$380 $99,417 18% 15% -$127,684 $117,334 $2,946 $380 -$7,024 -19% -1%

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