HashiCorp Investor Presentation Deck

Durable Growth | $100K + Customer Growth Revenue Model: Number of >=$100K Customers * TTM Revenue per >=$100K Customers/ % of Revenue from Customers >= $100K Number of Customers with > $100K in ARR 200 Q1 238 288 338 FY2020 384 Q2 Q3 Q4 Q1 419 450 499 FY2021 522 558 Q2 Q3 Q4 Q1 Q2 595 Q3 FY2022 655 Q4 704 Q1 FY2023 Total Customers Customers >= $100K in ARR Average Revenue Per Customer >=$100K in ARR³ TTM Revenue Per Customer4 >=$100K in ARR³ % of Revenue from Customers >= $100K in ARR Q1 FY2022 1,736 523 $124K $423K 1. Number of customers is measured at the end of each fiscal quarter and is defined as the number of accounts with a unique account identifier for which we have an active contract in the period. 2. Annual Recurring Revenue (ARR) is defined as the annualized value of all recurring subscription contracts with active entitlements as of the end of the applicable period, and in the case of our monthly, or consumption-based customers, the annual value of their last month's spend. 3. Revenue attributable to Customers equal to or greater than $100K in ARR divided by the number of such customers in the relevant period. 4. Trailing Twelve Month Revenue attributable to Customers equal to or greater than $100K in ARR is equal to the sum of the last four quarters of revenue from this cohort divided by the average customers for the period 88% Q1 FY2023 3,240 704 $141K $496K 88% 41

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