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Q3 2026 Earnings Presentation November 3, 2026
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Safe Harbor Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding our financial outlook, the expected launch and operating capacity of our data centers, our market opportunity, industry and competitor forecasts, the value and differentiation of our software, the differentiation of our business, the durability of our growth, our future leverage and our balance sheet flexibility. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these words or other similar terms or expressions. These forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to: (1) fluctuations in our financial results make it difficult to project future results; (2) our ability to sustain profitability in the future; (3) our ability to expand usage of our platform by existing customers and/or attract new customers and/ or retain existing customers; (4) the speed at which the market for our platform and solutions develops; (5) the success of the development and use of our artificial intelligence and machine learning (AI/ML) product offerings or use of third-party AI/ML-based tools; (6) our ability to release updates and new features to our platform and adapt and respond effectively to rapidly changing technology or customer needs; (7) our ability to control costs, including our operating expenses, and the timing of payment for expenses; (8) the amount and timing of non-cash expenses, including stock-based compensation, goodwill impairments and other non-cash charges; (9) breaches in our security measures allowing unauthorized access to our platform, data, or customers' data; (10) the competitive markets in which we participate; (11) our ability to effectively integrate, and retain new members of our executive leadership team and senior management; (12) the effects of acquisitions and their integration; (13) general market, political, economic, and business conditions, including changes in trade policies, such as trade wars, tariffs and other restrictions or the threat of such actions; (14) the impact of new accounting pronouncements; (15) our ability to control fraudulent registrations and usage of our platform, reduce bad debt and lessen capacity constraints on our data centers, servers and equipment; (16) our customers' ability to have continued and unimpeded access to our platform, including as a result of evolving laws and industry standards; (17) our plans with respect to accelerating investments in data centers and GPU capacity; and (18) the timing and availability of data center capacity, power, GPUs and other equipment.. Further information on these and additional risks, uncertainties, assumptions and other factors that could cause actual results or outcomes to differ materially from those included in or contemplated by the forward-looking statements in this presentation are included under the caption “Risk Factors” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent filings and reports we make with the SEC. We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur. The forward-looking statements in this presentation relate only to events as of the date on which the statements are made. We assume no obligation to, and do not currently intend to, update any such forward-looking statements after the date hereof. 2026 DigitalOcean. All rights reserved 2
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Growing T raction on Complete Cloud 2 Leader in both tokens and agents, grew token volume roughly 10x QoQ and 90% of AI customer revenue now comes from customers also consuming core cloud primitives Software Makes Our MW More Valuable 3 Earn industry-leading ARR per active megawatt across our entire fleet, and our software will widen that premium as we scale 4 Fastest Growth in a Decade 1 40% revenue growth, fifth consecutive quarter of sequential acceleration, added record $160M ARR and beat every key metric Accelerating Growth With Disciplined Execution 2026 DigitalOcean. All rights reserved We are Different by Design Delivering MWs of tier-one DC capacity on time or early, no customer concentration, profitable, minimal leverage, and flexible balance sheet Raising Q4 2026 revenue guidance to 44-45% Y o Y and projected FY 2027 growth to 60%+ 3
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2026 DigitalOcean. All rights reserved Record Q3 Revenue Results & Strong Profitability $321M Q3 Revenue 40% Y o Y $160M 266% Y o Y Incremental ARR 45% Q3 Adjusted EBITDA Margin 20% TTM Adjusted FCF Margin 23% Q3 Adjusted Operating Income Margin Note: Refer to the Appendix for definitions of metrics and reconciliations of Non-GAAP measures to GAAP. $376M AI Customer ARR 288% Y o Y 4
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2026 DigitalOcean. All rights reserved The AI-Native Cloud Flywheel Every layer a customer adopts pulls them into the next 2026 DigitalOcean. All rights reserved Inference Engine Managed Agents Data & Learning Cloud Primitives More consumption Higher utilizationLower cost to serve Better price-performance ADOPTION UNIT ECONOMICS 90% of AI Customer Revenue from Customers also using Core Cloud Compounding on our infrastructure Token Flow Agentic Flow 5
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2026 DigitalOcean. All rights reserved THINK Model Library Open models Frontier models Decision models Bring Your Own Model Inference Engine Inference Router Fine-tuning Serverless ACT Harness Runtime MicroVM Checkpoint Fork Session Mgmt Durable sessions Action Gateway MCP tools Find by intent Live web IMPROVE Agent Data Services Your multimodal data Indexed Web T races, Signals & Logs Agent Learning Services Insights Signals Evaluations Simulations TRACES · OUTCOMES BETTER MODELS · POLICIES SUBSTRATE Cloud Primitives Kubernetes Droplets (CPU & GPU) VPC Storage (object · block · file) High-performance NFS Databases Infrastructure 20 data centers, liquid-cooled NVIDIA H100 · H200 · B300 AMD MI300X · MI350X · MI355X Identity & Policy Agent identity Brokered keys Policy Approvals Audit RLDedicated Batch Active CPU billing 6 DigitalOcean AI-Native Cloud AGENTS RUN HERE MODELS REASON HERE THE LOOP CLOSES HERE CORE FOUNDATIONS
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2026 DigitalOcean. All rights reserved Customers Are Adopting The Full AI Native Cloud Amplitude Wave, built on DigitalOcean Amplitude (NASDAQ:AMPL) whose product analytics platform powers some of the world's largest digital brands. Wave is their new agentic product team for building self-improving products. Managed Agents powers Wave with agent runtime, tool access and inferencing Open models on DigitalOcean run a core Wave workload about 67% cheaper than a frontier model Agent, model, data and cloud primitives in one data center: no cross-cloud latency, no margin stacking, no glue code Open stack, not just open weights: no lock-in, Amplitude owns its intelligence ~60% of total revenue came from customers on four or more products ~75% of $100K+ AI accounts run four or more products ~90% of AI Customer Revenue comes from customers that also buy Core Cloud 7 Multi-layer adoption proof points
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2026 DigitalOcean. All rights reserved ↑ $/MW T oday ~$18M total ARR per average active megawatt 1 2 Short-term contracts Captures rising prices, already landing deals above $20M ARR per MW 3 4 Our Software Makes Our Megawatts More Valuable 8 Returns per active megawatt, fleet-wide, on currently deployed technology generations. Steps show direction, not magnitude; not to scale. Elastic compute Leverage elastic compute fleet to maximize utilization Platform adoption AI pulls through higher margin primitives including core cloud, creating stickier customers Newer GPU generations More token efficient, more ARR per megawatt
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2026 DigitalOcean. All rights reserved Committed Capacity and Balance Sheet Flexibility Support Sustained Acceleration Note: Committed capacity reflects signed agreements; Active MW reflects revenue-ready capacity Actively pursuing more capacity Execution Funding Data Centers delivered on / ahead of schedule Richmond Q1, Kansas City Q2, Memphis Q3 ~180 MW Committed Capacity Actively pursuing additional 2028 capacity and beyond $785M equipment lease facility Financing equipment, matching outflows to revenue $1B at-the-market equity program Provides additional opportunistic funding flexibility <1.5x Net Leverage as of Q3 Additional 30 Signed MWs for 2028 9
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2026 DigitalOcean. All rights reserved What it means › Lower concentration risk Broader customer base drives more durable growth, no single customer risk › Higher return More ARR generated per MW of capacity delivers higher ROIC › Durable base 15-year cloud business provides growth from profitable base Concerns with industry Customer concentration Hyperscaler & AI lab customers who can bring capacity in house Low ROIC Long-term Bare metal neocloud contracts at low prices AI-only exposure No diversification, entirely reliant on ability to generate future profitability and cash flow Negative margins Unprofitable & burning cash › Stronger profitability Meaningfully higher margins, generating cash with clear expansion runway Note: DigitalOcean metrics as of Q3 2026. Highly Differentiated Profile 27% T op 25 customers % of revenue ~$18M T otal ARR per active MW $900M+ Core Cloud ARR, double-digit YoY growth 10% Q3 GAAP operating margin Materially different business model and financial profile vs. other industry participants 10
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2026 DigitalOcean. All rights reserved Accelerating Growth Y o Y Revenue Growth 11
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Record Quarterly Revenue on All Key Metrics 2026 DigitalOcean. All rights reserved 12 3Q23 Revenue ($M) 3Q24 3Q25 3Q26 $1M+ Customer ARR ($M) 3Q23 AI Customer ARR ($M) 3Q24 3Q25 3Q26 3Q23 3Q24 3Q25 3Q26 40% 273% 288% Note: Refer to the Appendix for reconciliations of Non-GAAP measures to GAAP and definitions of customer categories, customer count and ARR metrics and our Form 10-Q filed with the SEC for a description of our prior methodology. Prior periods have been recast using our current methodology. 3Q23 3Q24 3Q25 3Q26 Incremental ARR ($M) 266% 12
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% of total ARR 25% 41% 15% 33% 11% 30% Q3 2025 Q3 2026 $100K+ Customer ARR ($M) Note: Refer to the Appendix for definitions of customer categories, customer count and ARR metrics and our Form 10-Q filed with the SEC for a description of our prior methodology. Prior periods have been recast using our current methodology. Certain growth rates may not recalculate precisely to numbers shown due to rounding. 2026 DigitalOcean. All rights reserved 13 $1M+ Customer ARR Reached $386M and Grew 273% Y o Y $500K+ Customer ARR ($M) Q3 2025 Q3 2026 $1M+ Customer ARR ($M) Q3 2025 Q3 2026 +133% +214% +273% 13
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Note: Refer to the Appendix for definitions of AI Customers and AI Customer ARR. Core Cloud includes: VM, VPC, Storage, High Performance NFS. CPU Kubernetes & Droplets. Inferences Services includes: all non bare metal inference capabilities. 2026 DigitalOcean. All rights reserved AI Customer ARR Reached $376M and Grew 288% Y o Y Q3 YoY ARR Growth Bare Metal Inference Services Core Cloud T otal AI Customer ARR ($M) % Non Bare-metal 61% 70% 81% 85% 90% 14
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Operating Leverage Remains Strong 2026 DigitalOcean. All rights reserved Adjusted EBITDA ($M) & Margin Adjusted Operating Income ($M) & Margin TTM Adjusted Free Cash Flow ($M) & Margin Note: Refer to the Appendix for definitions of metrics and reconciliations of Non-GAAP measures to GAAP. GAAP Gross Profit ($M) & Margin 3Q23 43% 3Q24 44% 3Q25 43% 3Q26 45% +45% 3Q23 29% 3Q24 28% 3Q25 30% 3Q26 23% 3Q23 24% 3Q24 17% 3Q25 21% 3Q26 20% 3Q23 60% 3Q24 59% 3Q25 60% 3Q26 50% +24%+6% +18% 15 Margin (%) Margin (%) Margin (%) Margin (%)
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2026 DigitalOcean. All rights reserved Strong Balance Sheet Provides Significant Financial Flexibility Strong Balance Sheet Funding Flexibility Repurchased ~$472M principal of 0.00% 2030 convertible notes Funded by concurrent registered direct offering Wide range of financial alternatives available Utilize other pools of debt and equity to balance cost of capital, dilution and leverage Equipment leasing and asset backed financing Primary funding strategy; Matching outflows with revenue Retiring remaining $312M of 2026 convertible notes At or before maturity, from cash on hand Secured $785M equipment lease facility Closed at attractive rates in debt market increasingly focused on financial discipline Similar or better ROI on new capacity Higher equipment cost per MW offset by higher expected ARR per MW Note: Refer to the Appendix for definitions of metrics and reconciliations of Non-GAAP measures to GAAP. <1.5x Net Leverage no material debt maturities until 2030 $220M TTM aFCF at 20% margin up 24% YoY; raising FY26 aFCF guide to 20%-22% ~$1.2B Total liquidity $666M cash + $179M securities + $397M revolver 16
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Quarterly Guidance Full Y ear Guidance Metric Q4 2026 FY 2026 (as of 8/4) FY 2026 (as of 11/3) FY Delta (at midpoint) Revenue ($M) $348 - $351 $1,170 - $1,180 $1,208 - $1,211 +34.5M Revenue Growth 44% - 45% 30% - 31% ~34% +350bps Adjusted EBITDA Margin 42% - 43% 38.5% - 39.5% 41% - 42% +250bps Non-GAAP Diluted Net Income Per Share $0.30 - $0.32 $1.35 - $1.40 $1.60 - $1.62 +$0.24 Adjusted Free Cash Flow Margin N/A 11% - 13% 20% - 22% +900bps Non-GAAP Diluted Weighted Average Shares Outstanding 128M - 129M 122M - 123M 122M - 123M N/A 2026 DigitalOcean. All rights reserved Raising 2026 Outlook Note: A reconciliation of non-GAAP outlook measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future, although it is important to note that these factors could be material to our results computed in accordance with GAAP. 17
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2026 DigitalOcean. All rights reserved Continuing to Raise the Bar for 2027 Raised both 2026 and implied 2027 revenue outlook in every guidance update since February 2027 implied = 2026 guidance midpoint x guided growth floor. Y-axis is linear from $1,000M, so line slopes are to scale. Note: reconciliation of non-GAAP outlook measures to GAAP not available on a forward-looking basis 18 2027 implied revenue midpoint2026 guidance midpoint 2/24 guide 5/5 guide 8/4 guide ~30% 50%+ 50%+ 60%+$1,417+ $1,706+ $1,763+ $1,935+ $1,090 $1,138 $1,175 $1,210 +$518M total 2027 implied guide increase, 2/24 to 11/3 +$120M total 2026 guide increase, 2/24 to 11/3 11/3 guide
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Growing T raction on Complete Cloud 2 Leader in both tokens and agents, grew token volume roughly 10x QoQ and 90% of AI customer revenue now comes from customers also consuming core cloud primitives Software Makes Our MW More Valuable 3 Earn industry-leading ARR per active megawatt across our entire fleet, and our software will widen that premium as we scale 4 Fastest Growth in a Decade 1 40% revenue growth, fifth consecutive quarter of sequential acceleration, added record $160M ARR and beat every key metric Accelerating Growth With Disciplined Execution 2026 DigitalOcean. All rights reserved We are Different by Design Delivering MWs of tier-one DC capacity on time or early, no customer concentration, profitable, minimal leverage, and flexible balance sheet Raising Q4 2026 revenue guidance to 44-45% Y o Y and projected FY 2027 growth to 60%+ 19
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Appendix
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Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Revenue (M) $229.6 $242.4 $257.9 $281.2 $321.2 Revenue Growth Y ear-over-year 16% 18% 22% 29% 40% ARR (M) $919 $970 $1,032 $1,125 $1,285 ARR Increase (M) $44 $51 $62 $93 $160 Adj. Operating Income (M) $70 $64 $64 $67 $74 Adj. EBITDA (M) $99.8 $99.3 $104.6 $113.6 $144.2 DNE Customer ARR % of total company ARR 60% 62% 64% 67% 69% $1M+ Customer ARR (M) $104 $133 $183 $259 $386 AI Customer ARR % of total company ARR 11% 12% 16% 21% 29% 2026 DigitalOcean. All rights reserved Financial Highlights and Key Business Metrics Note: Refer to this Appendix for definitions of metrics and reconciliations of Non-GAAP measures to GAAP. 21
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2026 DigitalOcean. All rights reserved Over 70 releases in 65business days Jul 1 Jul 6 Jul 13 Jul 20 Jul 27 Aug 3 Aug 10 Aug 17 Aug 24 Aug 31 Sep 7 Sep 14 Sep 21 Sep 28 PUBLIC PREVIEW Insights Logs, metrics and traces PUBLIC PREVIEW Agent Droplets One price, one bill for agents PRIVATE PREVIEW MicroVMs Isolated compute for agents PUBLIC PREVIEW Managed Agents 20,000+ governed tools GA Advanced Edition PostgreSQL & MySQL GA v5 Droplets 5th Gen AMD EPYC PRIVATE PREVIEW Managed Agents Runtime Agent sandboxes and tool access CACHE-AWARE Inference Router Keeps prompt caches warm Kimi K3 2.8T open model PUBLIC PREVIEW Model synthesis Up to 8 models, one answer PUBLIC PREVIEW Prompt caching Automatic for open models Product & platform AI model Landmark launch 22
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2026 DigitalOcean. All rights reserved Metrics Definitions Customers We calculate customer count as the average number of customers as of the last day of the month for each month in the most recent quarter. Customers are classified in the following categories based on the amount of their spend in a given month and individual customers may fall within different categories within a reporting period (customer spend in a month in whole dollars): ● DNE Customers: users that spend more than $500 in a month. ● $100K+ Customers: users that spend more than $8,333 in a month. ● $500K+ Customers: users that spend more than $41,667 in a month. ● $1M+ Customers: users that spend more than $83,333 in a month. ARR We calculate ARR by multiplying total revenue for the most recent quarter by four. AI Customers We define AI Customers as customers that utilize one or more of our AI-related products or infrastructure offerings during a given month. A customer is classified as an AI Customer in any month in which they incur revenue associated with AI-specific workloads, including but not limited to GPU-based infrastructure, AI platform services, model deployment, or other AI-optimized offerings. AI Customer ARR We calculate AI Customer ARR by multiplying total AI Customer Revenue for the most recent quarter by four. AI Customer Revenue is defined as the total revenue generated from customers who utilize one or more of our AI/ML offerings, inclusive of their revenue from our IaaS and PaaS/SaaS offerings during the period. 23
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2026 DigitalOcean. All rights reserved Metrics Definitions Remaining Performance Obligation Remaining performance obligation (“RPO”) represents commitments in customer contracts for future services that have not yet been recognized in the condensed consolidated financial statements. RPO is not necessarily indicative of future revenue growth because it does not account for the timing of customers’ consumption or their usage beyond their contracted capacity. Additionally, RPO may increase when customers transition from usage-based to commitment-based agreements, which does not always reflect incremental revenue growth. RPO is influenced by a number of factors, including the timing and size of renewals, the timing and size of purchases of additional capacity and average contract term. Due to these factors, it is important to review RPO in conjunction with revenue and other financial metrics contained in this release and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent filings and reports we make with the SEC. Net Leverage We calculate net leverage as Net Debt divided by trailing-12-months (“TTM”) adjusted EBITDA. Net debt is calculated as outstanding principal of our 2026 Convertible Notes and 2030 Convertible Notes, and the total amount of our finance lease liabilities and equipment financing obligations, less cash, cash equivalents, and marketable securities. TTM adjusted EBITDA is adjusted EBITDA for the most recent 12 consecutive months. 24
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2026 DigitalOcean. All rights reserved Use of Non-GAAP Metrics This presentation includes certain non-GAAP metrics, which have not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP metrics are in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP metrics versus their nearest GAAP equivalents. Other companies, including companies in our industry, may calculate non-GAAP metrics differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP metrics as tools for comparison. We urge you to review the reconciliation of our non-GAAP metrics to the most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business. See this Appendix for a reconciliation between each non-GAAP metric and the most comparable GAAP measure and our press release dated November 3, 2026 for a definition of each non-GAAP metric not otherwise defined herein. Adjusted Operating Income and Adjusted Operating Income Margin Adjusted operating income is a non-GAAP financial measure that we define as operating income, adjusted to exclude stock-based compensation, amortization of acquired intangible assets, acquisition related compensation, acquisition and integration related costs, restructuring and other charges, restructuring related charges, impairment of certain long-lived assets and other charges. We define adjusted operating income margin as adjusted operating income as a percentage of revenue. Adjusted Free Cash Flow and Adjusted Free Cash Flow Margin Adjusted free cash flow is a non-GAAP financial measure that we define as net cash provided by operating activities less purchases of property and equipment, capitalized internal-use software costs, purchase of intangible assets, and excluding cash paid for restructuring and other charges, acquisition related compensation, restructuring related charges, and acquisition and integration related costs. Adjusted free cash flow margin is calculated as adjusted free cash flow divided by total revenue. Unlevered Adjusted Free Cash Flow and Unlevered Adjusted Free Cash Flow Margin Unlevered adjusted free cash flow is a non-GAAP financial measure that we define as adjusted free cash flow excluding cash paid for interest and interest income. Unlevered adjusted free cash flow margin is calculated as unlevered adjusted free cash flow divided by total revenue. TTM Adjusted Free Cash Flow and TTM Adjusted Free Cash Flow Margin TTM Adjusted free cash flow is Adjusted free cash flow for the most recent 12 consecutive months. TTM Adjusted free cash flow margin is calculated as Adjusted free cash flow for the most recent 12 consecutive months divided by total Revenue for the most recent 12 consecutive months. 25
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2026 DigitalOcean. All rights reserved Adjusted Operating Income and Adjusted Operating Income Margin 1) For the three months ended September 30, 2023, non-GAAP stock-based compensation excludes a $31.3 million reversal related to the former CEO’s forfeited MRSU award that is reported in Restructuring related charges. 2) For the three months ended September 30, 2023, primarily consists of a $31.3 million reversal of stock-based compensation related to the former CEO’s forfeited MRSU award, partially offset by salary continuation charges, executive reorganization charges including severance, CEO search firm fees, and other legal and professional service costs. For the three months ended September 30, 2024, primarily consists of executive reorganization charges. 26
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2026 DigitalOcean. All rights reserved Adjusted EBITDA and Adjusted EBITDA Margin 1) For the three months ended September 30, 2023, non-GAAP stock-based compensation excludes a $31.3 million, reversal related to the former CEO’s forfeited MRSU award that is reported in Restructuring related charges. 2) For the three months ended September 30, 2023, primarily consists of a $31.3 million reversal of stock-based compensation related to the former CEO’s forfeited MRSU award, partially offset by salary continuation charges, executive reorganization charges including severance, CEO search firm fees, and other legal and professional service costs. For the three months ended September 30, 2024, primarily consists of executive reorganization charges. 3) For the three months ended September 30, 2023, September 30, 2024 and September 30, 2026, primarily consists of interest and accretion income from our cash and cash equivalents and marketable securities. For the three months ended September 30, 2025, December 31, 2025, March 31, 2026 and June 30, 2026 primarily consists of interest income from our cash and cash equivalents. 27
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2026 DigitalOcean. All rights reserved Non-GAAP Net Income 1) For the three and nine months ended September 30, 2026, excludes tax impact which is presented in Non-GAAP income tax adjustment. 2) For the periods in fiscal year 2026 and 2025, we used a tax rate of 16%, which we believe is a reasonable estimate of our long-term effective tax rate applicable to non-GAAP pre-tax income for each respective year. 3) Consists of non-cash interest expense for amortization of debt issuance costs related to our Convertible Notes. 4) Consist of charges associated with the wind-down of our legacy dedicated bare metal CPU offering. 28
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2026 DigitalOcean. All rights reserved Non-GAAP Diluted Net Income per Share 1) For the three and nine months ended September 30, 2026, excludes tax impact which is presented in Non-GAAP income tax adjustment. 2) For the periods in fiscal year 2026 and 2025, we used a tax rate of 16%, which we believe is a reasonable estimate of our long-term effective tax rate applicable to non-GAAP pre-tax income for each respective year. 3) Consists of non-cash interest expense for amortization of debt issuance costs related to our Convertible Notes. 4) May not foot due to rounding. 5) Excludes the in-the-money portion of our 2030 Convertible Notes for non-GAAP weighted-average diluted shares as they are covered by our capped call transactions. Our outstanding capped call transactions are antidilutive under GAAP, but are expected to mitigate the dilutive effect of our 2030 Convertible Notes, and therefore are included in the calculation of non-GAAP diluted shares outstanding. The capped calls have an antidilutive impact when the average stock price of our common stock in a given period is higher than their exercise price. 6) Includes the potentially dilutive effect of our convertible notes as if the entire principal amount outstanding were converted into shares for all periods presented. The Company has the election of settling any conversion in cash, shares of our common stock, or a combination of both. Refer to our Quarterly Report on Form 10-Q for the three months ended September 30, 2026 for further details. 7) Consist of costs associated with the wind-down of our legacy dedicated bare metal CPU offering. 29
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2026 DigitalOcean. All rights reserved Adjusted Free Cash Flow, Unlevered Adjusted Free Cash Flow, Adjusted Free Cash Flow Margin and Unlevered Adjusted Free Cash Flow Margin 30
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2026 DigitalOcean. All rights reserved TTM Adjusted Free Cash Flow and TTM Adjusted Free Cash Flow Margin 1) For the periods ended September 30, 2023 through December 31, 2023, primarily consists of salary continuation charges and executive reorganization charges, including CEO search firm fees and other legal and professional service costs. For the periods September 30, 2024 through December 31, 2024, primarily consists of executive reorganization charges. 31
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2026 DigitalOcean. All rights reserved Non-GAAP Operating Expenses 32
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2026 DigitalOcean. All rights reserved Net Leverage 33