#1GitLab Investor Presentation First Quarter Fiscal Year 2023#2This presentation contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding our future operating results and financial position, anticipated future expenses and investments, expectations relating to certain of our key financial and operating metrics, our business strategy and plans, market growth, our market position and potential market opportunities, and our objectives for future operations. The words "believe," "may," "will," "estimate," "potential," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "target," and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on management's expectations, assumptions, and projections based on information available at the time the statements were made. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change due to inherent risks and uncertainties, many of which are beyond our control. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include the following: our ability to appropriately manage future growth; our revenue growth rate in the future; our ability to achieve and sustain profitability, our business, financial condition, and operating results; our intense competition and loss of market share to our competitors; the market for our services may not grow; a decline in our customer renewals and expansions; our transparency; our publicly available company Handbook; security and privacy breaches; customers staying on our open-source or free SaaS product offering; fluctuations in our operating results; our limited operating history; our ability to manage our growth effectively; our ability to respond to rapid technological changes; our ability to accurately predict the long-term rate of customer subscription renewals or adoption, or the impact of these renewals and adoption; and our hiring model. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. This presentation also contains estimates and other statistical data made by independent parties and by GitLab relating to market size and growth and other industry data. Such data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. GitLab has not independently verified the statistical and other industry data generated by independent parties and contained in this presentation and, accordingly, it cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of its future performance and the future performance of the markets in which GitLab competes are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results or outcomes to differ materially from those expressed in the estimates made by the independent parties and by GitLab. This presentation includes certain financial measures not presented in accordance with generally accepted accounting principles in the United States ("GAAP"), which are used by management as a supplemental measure, have certain limitations, and should not be construed as alternatives to financial measures determined in accordance with GAAP. The non-GAAP measures as defined by us may not be comparable to similar non-GAAP measures presented by other companies. Our presentation of such measures, which may include adjustments to exclude unusual or non-recurring items, should not be construed as an inference that our future results will be unaffected by other unusual or non-recurring items. A reconciliation is provided in the Appendix to the most directly comparable financial measure stated in accordance with GAAP. For further information with respect to GitLab, we refer you to our most recent Quarterly Report on Form 10-Q filed with the SEC. In addition, we are subject to the information and reporting requirements of the Securities Exchange Act of 1934 and, accordingly file periodic reports, current reports, proxy statements and other information with the SEC. These periodic reports, current reports, proxy statements and other information are available for review at the SEC's website at http://www.sec.gov.#3GitLab at a Glance KSI Business Fom Financial со 1 Platform $ $350M Run-Rate Revenue¹ 5,168 Base Customers¹ 75% YOY Run-Rate Revenue Growth² Note: Figures as of the three months ended April 30, 2022 (Q1 FY23) unless otherwise noted. 1 Definition can be found in the Appendix. 2 Represents growth in revenue from annualized Q1 FY22 to annualized Q1 FY23. 3 See Appendix for reconciliation with most directly comparable GAAP figure. 545 >$100K Customers >130% Dollar-Based Net Retention Rate¹ Ic 100% Remote Since inception المهم 90% Non-GAAP Gross Margin³#4Every Company is Becoming a Software Company THEN ΜΟΝ Financial Services UBS Mobile Banking Public Sector Retail Ra Begran H-E-B Transportation BOADING PASS#5DevOps is The Way to Make Software Waterfall Agile Time 8 DevOps#6The Four Phases of DevOps BYO DevOps Bring-Your-Own BIC DevOps Best-In-Class 01 X< 10 X X CHI X 89 X S Ⓡ 070 ง Ⓡ Ⓡ C ›› Disparate set of tools (1) 0₁ Ⓒ C Y D Standardized toolchain DIY DevOps Do-It-Yourself A-1 (1) 93 Custom integration DevOps Platform Single Application Monitor 0 rotect Configure A îni Manage Single DevOps Platform Release Plan Secure 7 Creat </> T Package g Verify#7The One DevOps Platform for software innovation o Project planning o o o GitLab O 0 0 Source code management Continuous integration Infrastructure configuration Incident monitoring o Application security O And so much more... Business Developers Į Į ល Plan Create Manage One user interface Verify Security Operations Į Į Package Secure Release Configure Unified data model Monitor Protect#8Consolidation onto DevOps Platforms Supports Long-Term Market Growth 20% 2021 60% 2024 "By 2024, 60% of organizations will have switched from multiple point solutions to value stream delivery platforms to streamline application delivery, up from 20% in 2021"1 Increase in Platform usage correlates to a decrease in point solution usage ¹Gartner Market Guide for Value Stream Delivery Platforms, Manjunath Bhat, Thomas Murphy, Daniel Betts, Chris Saunderson, Hassan Ennaciri, Joachim Herschmann, 18 October 2021 GARTNER is a registered trade and service mark of Gartner, Inc. and/or its affiliates in the US and internationally and is used herein with permission. All rights reserved. Graphic created by GitLab#9GitLab Streamlines Collaboration Across Personas N Point Solutions Compliance R&D Pros Product Designers Developers Execs Managers ÛÛ Manage N Plan Create Single DevOps Platform Security Pros GitLab The One DevOps Platform Verify Secure </> ° Package Operations Platform Pros Engineers Release a Configure Monitor Security Pros Protect#10GitLab The One DevOps Platform for software innovation X3#11Creating Interdependence and Driving Adoption Downstream Plan Issue tracking Time tracking Boards Epics Service desk Design management Roadmaps Requirements management Quality management Subgroups Land Foundational entry point Create Source code BINIB management (SCM) Code review Snippets Wiki Static site Audit events editor Web IDE Live preview Verify Continuous integration (CI) Accessibility testing Code testing and coverage Merge trains Performance testing Value stream management Usability testing Secure SAST Current expansion DAST Fuzz testing Dependency testing Secret detection Insights Vulnerability management Code quality License compliance Manage Package Package registry Dependency proxy Container registry Audit reports Helm chart registry Release evidence Git LFS Compliance management Release Continuous delivery (CD) Pages Review apps Advanced deployments Feature flags Release orchestration Code analytics Future expansion Configure Monitor Incident management Auto DevOps Kubernetes management Infrastructure as code Secrets management ChatOps Serverless Cluster cost management Metrics Error tracking Logging Product analytics Tracing DevOps reports Runbooks On-call schedule management Feature maturity key: Lovable/complete Viable Protect Container scanning Container host security Container network security Security orchestration Minimal#12Accelerate Innovation Dual-Flywheel Development Strategy Additional R&D contributions 1 As of April 30, 2022 New product version released 127 Months¹ in a row More users More features#13GitLab Can Enable Delivery of 407% ROI Within Three years of Deployment Typical break-even point ROI Time (with growing GitLab adoption across your organization) Level 4 Revenue acceleration due to faster cycle time Level 3 Higher productivity due to a better developer experience Level 2 Eliminate tool chain integration costs Level 1 Software tool license cost reduction Source: GitLab commissioned a Total Economic Impact study in 2020 conducted by Forrester Consulting that found GitLab customers can see a 407% return within just the first three years of deployment. 1 When Deployed to Revenue-Generating Applications.#14GitLab Our Opportunity#15Aligning our Go-to-Market Strategy to our Opportunity ● Go-to-Market Advantages ● Viral product adoption Strong product familiarity Bottoms-Up adoption • Massive base of Free Users • Demanded by Developers Large Enterprise Mid-Market SMB High value enterprise sales High velocity inside sales Self-serve#16We Don't Price Per Stage . Free ● $0 Buyer Persona: Individual Contributors All stages of the DevOps lifecycle Open source license (MIT) per user per month . Buyer Persona: Directors (all users within organization have the same plan*) . . . . Premium $19 . per user per month All the benefits of Free Faster code reviews Operational insights Project management Code and deployment release controls 24/7 customer support * Highest level plan in use at the organization will be the one rolled out to all users within the business. Ultimate $99 Buyer Persona: Executives (all users within organization have the same plan*) . per user per month All the benefits of Premium Advanced security testing Portfolio management Compliance and planning Value stream analytics Unlimited guest users at no additional cost Fastest Growing Tier#17Agnostic to How We Deploy Our Platform GitLab.com (SaaS) Fully-Managed • Software fully managed by GitLab For customers who want to consume as a service Self-Managed Majority of installations are in the public cloud • Software instance managed by the customer • For customers seeking control of deployment Single codebase across both deployment options#18Customers Across a Wide Array of Verticals Media & Telecom Consumer/ Retail Public Sector Bendigoand AdelaideBank FINOS King sher Group Financial Services GENERAL DYNAMICS Mission Systems KIWI COM Aussie Broadband axway Zebra TUI GROUP Goldman Sachs KnowBe4 Human error. Conquered. CERN UBS hackerone Haven H Life LOCKHEED MARTIN SIEMENS smartsheet sopra steria SUZUKI UNIVERSITY OF SURREY CLOUD NATIVE COMPUTING FOUNDATION NVIDIA® Industrials here W UNIVERSITY of WASHINGTON Pearson ECRETARY OF CHIEF SOF Aco CA CRÉDIT AGRICOLE omes HERIOT WANT ifood indeed UNIVERSITY · Ping Identity Software / Core Tech UNITED STATES PATENT AND TRADEMARK OFFICE uspto Disclaimer: Gitlab does not own any right, title or interest to any marks shown. All trademarks and logos are owned by the applicable entity (ies)). K EQUINIX swisscom TMobile THALES ticketmaster® wish PrivatBank RA Internet vistaprint Fanatics IRON MOUNTAIN" Rockwell Automation#19Challenge T-Mobile was looking for a unified platform that would allow developers to deliver value to their customers faster while decreasing the cognitive load and context switching concerns that resulted from their prior toolchain. SUSHI Benefits Consistent developer experience: Using GitLab as the DevOps platform, they have improved developer output, running about 3 million CI/CD jobs every month. VEGAN Better products faster: T-Mobile has achieved 10x the deployment frequency by switching to GitLab, while also preserving the end-user experience by easily adjusting and rolling back changes when needed. Improved Time to Value with SaaS: T-Mobile's development team is able to consume requested fixes at a much faster rate: from 3-6 months using On-Premise solutions to just 3 weeks with GitLab SaaS Premium. T Mobile "At the end of the day, GitLab is primarily focused on creating a better developer experience. Just like T-Mobile is. So we're aligned on vision; we're aligned in terms of communication from a transparency perspective. We also talk about how we can improve [something] on the GitLab side or on the T-Mobile side and both parties are coming up with ideas to make for a better experience. That's the definition of a strategic partnership." 8,500+ developers run 3 million+ CI/CD jobs monthly and have 10x deployments after replacing point-solutions with GitLab SaaS Premium#20Challenge UBS's cloud journey is targeted at developing a market-leading, dynamic development experience - with the ultimate goal of producing faster, high-quality, innovative solutions for clients while increasing efficiency. e Benefits • Consistent developer experience: Using GitLab as the DevOps platform, they have improved developer output, running about 3 million CI/CD jobs every month. ● Enabled UBS to engineer solutions that offer a improved client experience • Accelerated their ability to roll out development, production, failover, and test environments to achieve auto scaling cloud-natively within the security parameters of an air gapped environment Increased productivity and market competitiveness by unifying app engineering through a single platform of the UBS 12,000 users and 54,000 source code repositories migrated from two legacy point-solutions to GitLab Ultimate Self-Managed This case study is based on correspondence and interviews with the UBS Information Technology (UBS IT) team as conducted by the Gitlab team during the adoption of the GitLab DevOps Platform, while UBS IT is an affiliate of UBS IB, no member of the UBS IT team had a role or part in the drafting or preparation of this case study.#21Investing in Building out our Ecosystem Infrastructure Partners Allow GitLab to deliver better software faster. Our cloud native integrations are a direct line to environments trusted by developers aws Google Cloud Technical Partners Integrate with GitLab to deliver customized DevOps solutions across industries and use cases Representative Partners A ATLASSIAN Service Partners IB Sales and integration partners that help customers achieve technical and business goals in digital transformation $ boxboat Insight#22Driven by a Distinguished Company Culture CREDIT Value Hierarchy Prioritizes Results Collaboration Iteration Results Transparency FOL Diversity, inclusion and belonging 20 Documented ways in which we reinforce Our Values Efficiency#23All-remote Company since 2014 Wider, more diverse, and more uniquely skilled global talent pool Measurable objectives > prescribed hours Shifts based on when employees are most productive Engaged and passionate team No physical locations 1,700+ Team Members ~65 Countries 2,300+ 0 Handbook Webpages Headquarters#24GitLab Financial Highlights#25Financial Highlights Q1 FY'2023 ¹ Definition can be found in the Appendix. 2 Represents growth in revenue from annualized Q1 FY22 to annualized Q1 FY23. 3 See Appendix for reconciliation with most directly comparable GAAP figure. $350M Run-Rate Revenue¹ 5,168 Base Customers¹ 90% Non-GAAP Gross Margin³ 75% YOY Run-Rate Revenue Growth² 545 > $100K Customers >130% Dollar-Based Net Retention#26Strong Momentum at Scale Run-Rate Revenue¹ (millions) $118 $137 Q1 FY21 1 Definition can be found in the Appendix. Q2 FY21 $169 Q3 FY21 $185 Q4 FY21 $200 Q1 FY22 $233 Q2 FY22 $267 Q3 FY22 $311 Q4 FY22 75% YOY Growth $350 Q1 FY23#27Growing Customer Base 1,888 Q1-FY21 2,126 Q2-FY21 Base Customers ¹ 2,438 Q3-FY21 2,745 Q4-FY21 3,142 Q1-FY22 3,632 Q2-FY22 1 Definition can be found in the Appendix. 4,057 Q3-FY22 4,593 Q4-FY22 5,168 Q1-FY23 196 Q1-FY21 Customers Generating > $100K ARR 219 Q2-FY21 247 Q3-FY21 283 Q4-FY21 324 Q1-FY22 383 Q2-FY22 427 Q3-FY22 492 Q4-FY22 545 Q1-FY23#28Continued Investment in Growth with Significant Operating Leverage 87% 89% 89% 89% 87% 88% 90% Q1-FY21 Non-GAAP Gross Margin 1 Q2-FY21 Q3-FY21 Q4-FY21 Q1-FY22 Q2-FY22 Q3-FY22 89% Q4-FY22 90% Q1-FY23 1 Non-GAAP Operating Expenses ¹ (% of Revenue) 1 Non-GAAP metrics-see Appendix for reconciliation with most directly comparable GAAP figure. 105% 63% 22% Q1-FY21 92% 56% 20% 81% 77% 75% 73% 72% 67% Q2-FY21 44% 41% 41% 36% 18% Q3-FY21 S&M as % of Revenue 18% 17% 21% 20% Q4-FY21 Q1-FY22 34% Q2-FY22 R&D as % of Revenue Q3-FY22 32% Q4-FY22 68% 31% 25% 20% Q1-FY23 G&A as % of Revenue#29Driving Operating Efficiency While Maintaining Growth Non-GAAP Operating Loss¹ (% of Revenue) (103%) Q1-FY21 (78%) Q2-FY21 (53%) Q3-FY21 (48%) (45%) (42%) Q4-FY21 Q2-FY22 (36%) (35%) Increasing operating leverage Q1-FY22 Q3-FY22 (28%) Q4-FY22 Q1-FY23 1 Non-GAAP metrics-see Appendix for reconciliation with most directly comparable GAAP figure. GAAP Operating Cash Flow (% of Revenue) || (77%) (86%) Q1-FY21 Q2-FY21 (34%) Q3-FY21 (16%) Q4-FY21 (43%) Q1-FY22 (29%) Q2-FY22 (15%) | Q3-FY22 (1%) Cash efficient business I (32%) Q4-FY22 Q1-FY23#30Enduring Tailwinds Platform shift is still early High productivity helps reduce growing cost of quality engineers Ultimate penetration has room to expand Large and growing number of open source registrations Strong ARPU growth#31Financial Outlook Second Quarter and Fiscal Year 2023 ($ in millions, except per share data) Revenue Non-GAAP operating loss Non-GAAP net loss per share Q2 FY 2023 Guidance $93.5-$94.5 $(34.0) - $(33.0) $(0.24) - $(0.23) FY 2023 Guidance $398.0 $402.0 $(130.5) - $(127.5) $(0.93) - $(0.89) Note: Non-GAAP net loss per share assuming approximately 147 million and 148 million weighted average shares outstanding as of 2Q FY2023 and FY23, respectively.#32GitLab Appendix#33Definitions Customer: a single organization with separate subsidiaries, segments, or divisions that use The DevOps Platform is considered a single customer for determining each organization's ARR. Reseller or distributor channel partners are not counted as customers. In cases where customers subscribe to The DevOps Platform through our channel partners, each end customer is counted separately. Base Customers: customers generating $5,000 or more in ARR. Monthly Recurring Revenue ("MRR"): aggregate monthly revenue for all customers during that month from committed contractual amounts of subscriptions, including self-managed and SaaS offerings but excluding professional services. Annual Recurring Revenue ("ARR"): monthly recurring revenue multiplied by 12. Current Period ARR: includes any upsells, price adjustments, user growth within a customer, contraction, and attrition. Dollar-Based Net Retention: the percentage change in ARR derived from the customer base at a point in time. Calculated as of a period end by starting with customers as of 12 months prior to such period end ("Prior Period ARR"). Then ARR for the same customers is calculated as of the current period end ("Current Period ARR"). Then divide the total Current Period ARR by the total Prior Period ARR to arrive at the Dollar-Based Net Retention Rate. Run-Rate Revenue: the sum of the most recent three months of revenue at the end of each quarter multiplied by 4.#34GAAP to Non-GAAP Reconciliation Gross Profit ($ in thousands) GAAP Gross Profit Add: Stock-based Compensation Expense Add: Amortization of Intangible Assets Non-GAAP Gross Profit Non-GAAP Gross Profit Margin % Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. FY 2021 FY 2022 $133,713 $222,668 1,185 1,300 0 334 $134,898 $224,302 89% 89% Q1 FY22 $43,505 152 O $43,657 87% Q1 FY23 $77,559 790 504 $78,853 90%#35GAAP to Non-GAAP Reconciliation Sales & Marketing Expense ($ in thousands) Sales & Marketing Expense Less: Stock-based Compensation Expense Non-GAAP Sales & Marketing Expense As% of Revenue Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. FY 2021 FY 2022 $154,086 $190,754 (21,504) (10,550) $132,582 $180,204 87% 71% Q1 FY22 Q1 FY23 $38,854 $66,710 (1,439) (7,051) $37,415 $59,659 75% 68%#36GAAP to Non-GAAP Reconciliation Research & Development Expense ($ in thousands) Research & Development Expense Less: Stock-based Compensation Expense Non-GAAP Research & Development Expense As % of Revenue Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. FY 2021 $106,643 (31,519) $75,124 49% FY 2022 $97,217 (8,305) $88,912 35% Q1 FY22 $21,340 (965) $20,375 41% Q1 FY23 $31,830 (5,036) $26,794 31%#37GAAP to Non-GAAP Reconciliation General & Administrative Expense ($ in thousands) General & Administrative Expense Less: Stock-based Compensation Expense Add: Amortization of Acquired Intangibles Non-GAAP General & Administrative Expense As % of Revenue Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. FY 2021 FY 2022 $86,868 $63,654 (57,638) (9,854) (222) (331) $29,008 $53,469 19% 21% Q1 FY22 Q1 FY23 $9,339 $21,892 (875) (4,594) (77) (84) $8,380 $17,221 17% 20%#38GAAP to Non-GAAP Reconciliation Operating Loss ($ in thousands) GAAP Operating Loss Add: Stock-based Compensation Expense Add: Amortization of Acquired Intangibles Non-GAAP Operating Loss Non-GAAP Operating Loss Margin % FY 2021 FY 2022 $(213,884) $(128,957) 111,846 30,009 222 $(101,816) (67%) 665 $(98,283) (39%) Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. Q1 FY22 Q1 FY23 $(26,028) $(42,873) 3,431 17,471 84 581 $(22,513) $(24,821) (45%) (28%)#39GAAP to Non-GAAP Reconciliation Net Loss Attributable to GitLab ($ in thousands) Net Loss Attributable to GitLab Add: Stock-based Compensation Expense Add: Amortization of Acquired Intangibles Add: Foreign Exchange (Gains) Losses, Net Add: Loss from Equity Method Investment, Net of Tax Add: De-Consolidation (Gains) Losses Non-GAAP Net Loss Attributable to GitLab Non-GAAP Net Loss Margin % Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. FY 2021 FY 2022 $(155,138) 30,009 665 29,140 $(192,194) 111,846 222 (23,423) 0 $(103,549) $(95,324) (68%) (38%) Q1 FY22 Q1 FY23 $(27,937) $(26,099) 3,431 17,471 84 581 1,051 (860) 0 203 (17,798) $(23,371) $(26,502) 0 (47%) (30%)#40GitLab Thank you HI {