HashiCorp Investor Presentation Deck

Non-GAAP Operating Expenses Quarterly Non-GAAP Operating Expenses¹ (% of Revenue) Annual Non-GAAP Operating Expenses¹ (% of Revenue) 16% 32% 72% FY2020 Non-GAAP Operating -39% Margin 13% 28% 61% FY2021 -21% 18% 30% 64% FY2022 -27% 72% 76% 73% 35% 34% 32% 18% 16% 15% 16% FY2020 67% -43% -46% -39% 29% 1. Non-GAAP metrics are calculated on a Non-GAAP basis. See appendix for a reconciliation of Non-GAAP financial measures. 73% Q1 Q2 Q3 Q4 Q1 32% 15% -31% -39% 66% 30% 57% 13% 12% Q2 Q3 -29% 26% 25% 26% FY2021 53% -14% 57% 13% 18% Q4 Q1 -9% -20% 66% 33% Q2 Non- GAAP G&A Non-GAAP R&D Non-GAAP S&M 64% 16% 16% -31% FY2022 66% 31% 31% 32% 2 -24% 21% 65% Q3 Q4 Q1 19% FY2023 -32% -32% 48

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