HashiCorp Investor Day Presentation Deck

34 Focus on Maintaining Strong Gross Margin¹, 2 Annual Non-GAAP Gross Margin (%) Quarterly Non-GAAP Gross Margin (%) Non-GAAP Gross Margin Self-Managed GM Cloud-Hosted Services GM 86.8% 81.0% (17.6%) FY2021 89.8% © 2023 HASHICORP 85.0% 39.9% FY2022 90.0% 85.0% 59.8% FY2023 Non-GAAP Gross Margin 91.0% 86.6% 81.0% 0.5% Q1 88.3% 83.0% 30.2% Q2 87.0% 87.0% 55.0% FY2022 1. Non-GAAP Gross Margin is calculated on a Non-GAAP basis. See appendix for a reconciliation of Non-GAAP financial measures. 2. Numbers may vary due to rounding 92.1% Q3 49.9% Q4 Cloud-Hosted Services GM 89.6% 84.0% 54.5% Q1 89.5% 84.0% 52.9% Q2 90.3% 85.0% Q3 FY2023 Self-Managed GM 90.4% 85.0% 62.8% 63.9% 63.6% Q4 88.8% 88.4% 83.0% 83.0% Q1 66.2% FY2024 Q2

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