Growth and Scale in Cloud Security

CLOUDFLARE Strong Dollar-Based Net Retention 125% 124% 124% 123% 119% Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 © Copyright Cloudflare, Inc. Note: See the Appendix for how we define "Dollar-Based Net Retention." Gross revenue retention is defined as 1 - gross revenue churn. Do DNR includes all paying customers Large customers are a tailwind to DNR Gross retention above 90% DNR benefits from strong upsell, expansion, and new product introductions Cloudflare One offers 1 bundling opportunities

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