Cloudflare Investor Presentation Deck

GAAP to Non-GAAP Reconciliation (Quarterly) 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 Less: Amortization of acquired intangible assets Less: Acquisition-related and other expenses 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 Q2 2021 Q3 2021 Q4 2021 $35,029 $37,525 $42,496 -$803 -$1,040 -$1,337 -$700 -$700 -$846 $33,526 $35,785 $40,313 $117,399 $134,822 $151,100 $803 $1,040 $1,337 $700 $700 $846 $118,902 $136,562 $153,283 78% 79% $85,877 -$8,271 77% 78% $75,995 -$7,579 $68,416 50% 45% $41,349 -$11,280 $30,069 27% 20% $28,927 -$4,486 $24,441 19% 16% -$28,872 $24,148 $700 -$4,024 -19% -3% $77,606 50% 45% $46,770 -$13,971 $32,799 27% 19% $28,669 -$4,742 $23,927 17% 14% $2,230 -15% 78% 79% 1% 79% $96,219 $100,057 -$10,184 -$10,379 $37,015 32% 19% $86,035 50% 44% $61,762 $67,054 -$24,747 -$24,079 -$2,639 $40,336 32% 19% $38,029 -$6,018 $34,183 -$5,830 -$380 $27,973 18% -$26,494 -$41,064 $28,024 $42,098 $700 $846 $380 $2,260 -21% 14% Q1 2022 $47,051 -$1,323 -$507 $45,221 $165,116 $1,323 $507 $166,946 78% 1% $89,678 47% 42% $32,011 18% 15% -$40,024 $41,799 $507 $2,639 $4,921 -19% 2% Q2 2022 $55,804 -$2,001 -$4,312 $49,491 $178,713 $2,001 $4,312 $185,026 76% 79% $117,622 -$12,907 -$575 -$265 $103,875 50% 44% $75,114 -$27,873 -$1,043 $46,198 32% 20% $50,518 -$14,674 $35,844 22% 15% -$64,541 $57,455 $4,887 $1,308 -$891 -28% 0%

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