Q3 FISCAL 2022 RESULTS

November 23, 2021

Q3 Fiscal 2022 Results

© 2021 Pure Storage,Inc.

2©2021 Pure Storage, Inc.

FORWARD LOOKING STATEMENTSAND NON-GAAP INFORMATION

This presentation contains “forward-looking” statements that are based on our beliefs and assumptions and on information currently available to us. Such forward-looking statements includestatements concerning our possible or expected future financial or operating results, business strategies, product development plans, technical and business advantages, competitive position,industry trends and potential growth opportunities. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,”“could,” “seek,” “estimate,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or similar expressions and the negatives of those terms.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from anyfuture results, performance or achievements expressed or implied by the forward-looking statements, including risks, uncertainties and other factors relating to our beliefs about financial results,our momentum and growth potential, growth and market position, technological leadership and market opportunity, introduction of new functionality and products, demand for our productsand subscription services, the success of the Portworx acquisition and technology, customer spending priorities, our competitive position and industry dynamics, pricing environment, globaleconomic situation, disruption to our contract manufacturer or other supply arrangements, and relationships with third parties, including partners, customers, suppliers and contractmanufacturers and the duration and scope of the COVID-19 pandemic and related restrictions and its impact on our business, operating results, cash flows and/or financial condition. Additionalrisks, uncertainties and other factors are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our reportspreviously filed with the SEC, which are available on our website at investor.purestorage.com and on the SEC's website at www.sec.gov.

Forward-looking statements represent our beliefs and assumptions only as of the date of this presentation. Except as required by law, we assume no obligation to update these forward-lookingstatements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in thefuture.

This presentation includes certain non-GAAP financial measures as defined by SEC rules. As required by Regulation G, we have provided reconciliations of those measures to the most directlycomparable GAAP measures, which are available in the Appendix. We have not reconciled our guidance regarding non-GAAP operating income (loss) to its most directly comparable GAAPmeasure because items such as stock-based compensation expense and payroll tax expense related to stock-based activities that impact these measures are not within our control and/or cannotbe reasonably predicted. Accordingly, a reconciliation of the non-GAAP operating income (loss) to the corresponding GAAP measure is not available without unreasonable effort.

http://investor.purestorage.com/

http://www.sec.gov/

Company Overview

© 2021 Pure Storage,Inc. 3


Pure delivers a modern data experience that helps customers put

data to use and allows them to run their operations as a true, automated, storage as-a-service model seamlessly across multiple clouds.

Who are we?


5©2021 Pure Storage, Inc. 5© 2021 Pure Storage, Inc.

Pure Storage At A Glance

~34512% Y/Y Growth

Q3 FY22 Customer AdditionsQ3 FY22 RevenueQ3 FY22 Subscription Annual Recurring Revenue (ARR)(1)

$563 M37% Y/Y Growth

Customers

>50%*Of Fortune 500 companies

$788 M30% Y/Y Growth

9,500+*

Global Customers

CustomersFY21 Annual Revenue Leadership

$1.68 BSatisfaction

83.5 NPSTop 1% of B2B Companies

8 Year LeaderGartner Magic Quadrant

(1) Subscription ARR is a key business metric that refers to total annualized contract value of all active subscription agreements, including Evergreen, on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four.

(*) As of the end of Q3 FY22


Unified Fast File and Object Storage

Mission-CriticalBlock Storage

All-FlashSecondary Storage

Cloud Block Store

Modernizing Infrastructure All-Flash Storage for Accelerating Traditional

Applications

Delivering the Modern Data Experience

Modernizing Operations Automating Storage to Deliver the Cloud as-a-

Service Experience

Modernizing Applications Delivering the Hybrid Cloud Platform for

Tomorrow’s Data Applications

SaaS-Based, AI-Driven Management & Support

Subscription to Continuous SW + HW Innovation

Unified as-a-Service Subscription

Hybrid Data Management for Kubernetes Applications

Hybrid Mobility for Tier1 Apps

Unified Fast File and Object Storage

Autonomous Self-ServiceStorage as Code

1-Click Deployment ofKubernetes Data Services

7©2021 Pure Storage, Inc.©2021 Pure Storage, Inc.

Top 10 Reasons Customers Buy Pure

Simplicity - Easy to buy, install and operate

Innovation – 8x leader in Gartner Magic Quadrant

Reliability - Six 9s of reliability

Leadership - 1st flash that costs less than hybrid disk arrays

Flexibility - Differentiated unified as-a-service offering

Trust - Top 1% of NPS of industry B2B scores

Enterprise Proven - Expanding in Global F500 & key verticals

Cloud Chosen - Trusted by the largest and most demanding

Green - Evergreen Storage = less waste

Fair - Transparency & pay as you go


>9,500CUSTOMERS TO-DATE

~345NEW CUSTOMER ADDITIONS

IN Q3 FY22

>50%OF FORTUNE 500

~$2*Incremental purchases from all

customers within 24 months of initial purchase of $1

~$11*Incremental purchases from top 25

customers within 18 months of initial purchase of $1

(*) Note: Incremental Purchases exclude Evergreen and Unified Subscription Services purchases

TOTAL AND NEW CUSTOMERS

>7,000>8,000

>9,500

06012018024030036042048054060066072078084090096010201080114012001260132013801440150015601620168017401800186019201980204021002160222022802340240024602520258026402700276028202880294030003060312031803240330033603420348035403600366037203780384039003960402040804140420042604320438044404500456046204680474048004860492049805040510051605220528053405400546055205580564057005760582058805940600060606120618062406300636064206480654066006660672067806840690069607020708071407200726073207380744075007560762076807740780078607920798080408100816082208280834084008460852085808640870087608820888089409000

FY20 Q3 FY21 Q3 FY22 Q3

~12%New Customer Additions

Q3 FY22 Y/Y

Financial Overview



KEY HIGHLIGHTS

1

2

3

4

5

Q3 revenue growth of 37% Y/Y with balanced contributions across our entire portfolio, key geographies, and market segments

Leadership positions in both of Gartner’s Storage Magic Quadrants, recognizing our execution and vision in primary storage and in the rapidly-growing file and object market for unstructured data

Subscription ARR(1) achieved $788 million exiting the quarter, growth of 30% Y/Y

Strong non-GAAP operating profit* of $69 million or approximately 12.3% non-GAAP operating margin*, driven by increasing revenue growth, improving sales efficiency, and effects of the COVID environment

Raised FY22 revenue outlook to $2.1 billion, growing approximately 25% Y/Y, and non-GAAP operating profit outlook to $206 million or approximately 10% non-GAAP operating margin

(1) Subscription ARR is a key business metric that refers to the total annualized contract value of all active subscription agreements, including Evergreen, on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four.

(*) See GAAP to non-GAAP reconciliation in our Appendix.


Q3 FY22 FINANCIAL SUMMARY

Financial Metrics Guidance Actuals Y/Y

Revenue $ 530 Million $ 563 Million +37%

Subscription ARR(1) $ 788 Million +30%

Remaining Performance Obligations (RPO) $ 1,248 Million +27%

Non-GAAP Operating Income * $ 40 Million $ 69 Million

Non-GAAP Operating Margin * 12.3%

(1) Subscription ARR is a key business metric that refers to total annualized contract value of all active subscription agreements, including Evergreen, on the last day of the quarter, plus on-demand revenue for the quarter multiplied by four.

(*) See GAAP to non-GAAP reconciliation in our Appendix.


TOTAL REVENUE

$1,076 $1,239 $1,144

$284

$405$540

250

750

1250

1750

FY19 FY20 FY21

Product Revenue (Millions) Subscription Services Revenue (Millions)

$323 $275 $375

$105

$136

$188

50

110

170

230

290

350

410

470

530

FY20 Q3 FY21 Q3 FY22 Q3

+18%Total Revenue 3-Year CAGR*

+37%Total Revenue

Q3 FY22 Y/Y Growth

+42% Subscription Services

3-Year CAGR*

$1,360

$1,643$1,684

$428$411

$563

+38% Subscription Services Q3

FY22 Y/Y Growth

Annual Revenue Third Quarter Revenue

(*) Represents compounded annual growth rate from end of FY18 to end of FY21


$643$697 $706 $724 $763

$844 $866 $910 $950

$168 $183 $206

$232 $222 *

$250 $263 $285

$298

$811 $880

$912 $956 $985 *

$1,094 $1,129

$1,195$1,248

FY20 Q3 FY20 Q4 FY21 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY22 Q1 FY22 Q2 FY22 Q3

Axis TitleDeferred Revenue (Millions) Unbilled Remaining Performance Obligations (Millions)

REMAINING PERFORMANCE OBLIGATIONS

(*) Previously reported amount was reduced by $25 million arising from the expiration of a non-PaaS reseller contract.

+27%RPO

Q3 FY22 Y/Y Growth


$307$284

$386

71.7%

69.1% 68.5%

FY20 Q3 FY21 Q3 FY22 Q3

GROSS PROFIT & MARGINNon-GAAP as a Percentage of Revenue

See GAAP to non-GAAP reconciliation in our appendix

$919

$1,159 $1,179

67.6%

70.5% 70.0%

FY19 FY20 FY21

LONG-TERMGM TARGET

70%

65%

Non-GAAP Gross Profit (Millions)

Annual Gross Profit & Margin Third Quarter Gross Profit & Margin

Gross Profit Margin


7.4%

$51

7.8%

$56

8.2%

$4637.8% 40.0% 38.5%

18.7%19.3% 20.6%

07.5%

$29

8.3% $3 6.7%

$6939.1% 38.1%30.7%

18.3% 21.9%

18.8%

-25

3.7% 3.4% 2.7%

6.8%

0.8%

12.3%

OPERATING INCOME & MARGINNon-GAAP as a Percentage of Revenue

63.9%*

FY19 FY20 FY21

64.9%* 68.3%*

56.2%*

67.1%* 67.3%*

G&A S&M R&D Operating Income (Millions) Non-GAAP Operating Margin

Annual Operating Income & Margin Third Quarter Operating Income & Margin

FY20 Q3 FY21 Q3 FY22 Q3

(*) Non-GAAP operating expenses as a percentage of revenue



$43 $8 $101

$21

$25

$26

-41

19

79

139

$64 $102 $93

$100

$88$95

50

110

170

FY19 FY20 FY21FY19 FY20 FY21

Capital Expenditures (Millions) Free Cash Flow (Millions)

CASH FLOW


$164

$190 $188

$64

$33

$127

-FY20 Q3 FY21 Q3 FY22 Q3

(5.6% ofrevenue)

(5.3% ofrevenue)

(7.4% ofrevenue)

(4.9% of revenue)

(6.1% ofrevenue)

(4.6% ofrevenue)

Annual Operating Cash Flow (Millions) Third Quarter Operating Cash Flow (Millions)


Guidance

(1) We have not reconciled guidance for non-GAAP operating income and non-GAAP operating margin to their most directly comparable GAAP measures because items such as stock-based compensation expense and payroll tax expense related to stock-based activities that impact these measures are not within our control and/or cannot be reasonably predicted. Accordingly, a reconciliation of these non-GAAP financial measures guidance to their corresponding GAAP measures is not available without unreasonable effort.

. Q4 FY22 FY22

Revenue $ 630 Million $ 2.1 Billion

Non-GAAP Operating Income(1) $ 90 Million $ 206 Million

Non-GAAP Operating Margin(1) approx. 14% approx. 10%

Appendix



GROSS PROFIT & MARGINGAAP TO NON-GAAP RECONCILIATION


OPERATING EXPENSESGAAP TO NON-GAAP RECONCILIATION


FREE CASH FLOWGAAP TO NON-GAAP RECONCILIATION

OPERATING INCOME (LOSS) & MARGINGAAP TO NON-GAAP RECONCILIATION

Documents

Q3 FISCAL 2022 RESULTS