Palantir Technologies : Q1 2024 Presentation↗

Q1	©224 Palanr Technologies Inc.

224

Business Update

Disclaimer Safe Harbor

Copyright © 224 Palanr Technologies Inc. ("Palanr").

This presentaon contains "forward-looking" statements within the meaning of the federal securies laws, and these statements involve substanal risks and uncertaines. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding our financial outlook, product development, distribuon, and pricing, expected benefits of and applicaons for our soware platforms, business strategy and plans (including strategy and plans relang to our Arficial Intelligence Platform ("AIP"), sales and markeng eorts, sales force, partnerships, and customers), investments in our business, market trends and market size, expectaons regarding any current or potenal customers, partnerships, or other business relaonships or iniaves, opportunies (including growth opportunies), our expectaons regarding our exisng and potenal investments in, and commercial contracts with, various enes, our expectaons regarding macroeconomic events, our expectaons regarding potenal eligibility or inclusion in market indices, our expectaons regarding our share repurchase program, and posioning, as well as assumpons relang to the foregoing. Forward-looking statements are inherently subject to risks and uncertaines, some of which cannot be predicted or quanfied. In some cases, you can idenfy forward-looking statements by terminology such as "guidance," "expect," "ancipate," "should," "believe," "hope," "target," "project," "plan," "goals," "esmate," "potenal," "predict," "may," "will," "might," "could," "intend," "shall," and variaons of these terms or the negave of these terms and similar expressions. You should not put undue reliance on any forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indicaons of the mes at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to a number of risks and uncertaines, many of which involve factors or circumstances that are beyond our control. Our actual results could dier materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to risks detailed in our filings with the Securies and Exchange Commission (the "SEC"). You can locate these reports on our investor relaons website (investors.palanr.com) or on the SEC website (www.sec.gov). If the risks or uncertaines ever materialize or the assumpons prove incorrect, our results may dier materially from those expressed or implied by such forward-looking statements. Except as required by law, we assume no obligaon and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectaons.

We use the non-GAAP financial measures adjusted free cash flow and adjusted free cash flow margin; adjusted gross profit and adjusted gross margin; billings; adjusted operang income and adjusted operang margin; adjusted earnings per share ("EPS"), diluted; and adjusted expenses to help us evaluate our business, idenfy trends aecng our business, formulate business plans and financial projecons, and make strategic decisions. Our definions may dier from the definions used by other companies and therefore comparability may be limited. In addion, other companies may not publish these or similar metrics. Further, these metrics have certain limitaons in that they do not include the impact of certain expenses that are reflected in our consolidated statements of operaons. Thus, these non-GAAP financial measures should be considered in addion to, not as a substute for, or in isolaon from, measures prepared in accordance with GAAP. We compensate for these limitaons by providing reconciliaons of these non-GAAP financial measures to the most comparable GAAP measures. We encourage investors and others to review our business, results of operaons, and financial informaon in its enrety, not to rely on any single financial measure, and to view these non-GAAP financial measures in conjuncon with the most directly comparable GAAP financial measures.

This presentaon may contain stascal data, esmates, and forecasts that are based on independent industry publicaons or other publicly available informaon, as well as other informaon based on our internal sources. This informaon involves many assumpons and limitaons, and you are cauoned not to give undue weight to these esmates. We have not independently verified the accuracy or completeness of the data contained in these industry publicaons and other publicly available informaon. Accordingly, we make no representaons as to the accuracy or completeness of that data nor do we undertake to update such data aer the date of this presentaon.

This presentaon may also contain links to publicly-available websites, data, or other informaon. We have not independently verified the accuracy or completeness of such websites, data, or informaon and accordingly we make no representaons as to their accuracy or completeness nor do we undertake to update such data or informaon aer the date of this presentaon. The inclusion of external links does not constute endorsement by Palanr of the linked websites or the data or informaon contained therein.

This presentaon may refer to various growth rates when discussing our business. These rates reflect year-over-year comparisons unless otherwise stated.

Any non-Palanr logos or trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the platform and products of Palanr. The appearance of any US Department of Defense (DoD) visual informaon does not imply or constute DoD endorsements.

By aending or receiving this presentaon you acknowledge that you will be solely responsible for your own assessment of the market and our market posion and that you will conduct your own analysis and be solely responsible for forming your own view of such informaon, including the potenal future performance of our business.

Q1

Business Update

Q1 2024 Highlights

US commercial revenue grew +40% Y/Yand +14% Q/Qto $150 million

Commercial revenue grew +27% Y/Yand +5% Q/Qto $299 million

Revenue grew +21% Y/Yand +4% Q/Qto $634 million

Closed 87 deals over $1 million

US commercial customer count grew +69% Y/Yand +19% Q/Q

Adjusted operang income of $226 million; 36% margin and the sixth consecuve quarter of expanding adjusted operang margins Fih consecuve quarter of GAAP operang profitability; 13% margin

Sixth consecuve quarter of GAAP profitability; 17% margin

Adjusted free cash flow of $149 million; 23% margin

GAAP EPS of $0.04; Adjusted EPS of $0.08

	The value of deals closed reflects the total contract value of contracts that have been entered into with, or awarded by, our government and commercial customers and includes exisng contractual obligaons and unexercised contract opons available to those customers. We define a customer as an organizaon from
	which we have recognized revenue during the trailing twelve months period. Adjusted operang income and adjusted operang margin excludes stock-based compensaon expense and related employer payroll taxes. Adjusted free cash flow and adjusted free cash flow margin exclude employer payroll taxes related to
	stock-based compensaon and purchases of property and equipment. Adjusted EPS excludes stock-based compensaon expense, related employer payroll taxes, income tax eects and adjustments, and other nonrecurring items. Please see the appendix for reconciliaons of these and other non-GAAP financial
© 224 Palanr Technologies Inc.	measures to the most directly comparable GAAP measures.

Q1

Unchecked ansemism at US universies mandates a response.

Last December, we iniated a program for all university students, regardless of background, who have been aected by or are concerned about safety on campus, inving them to join Palanr as University Fellows.

In light of the historical levels of hate and ansemism plaguing our universies, we are expanding and extending this Fellowship.

Apply here

© 224 Palanr Technologies Inc.

Q1

Business Update

Palanr builds products

to meet the moment.

© 224 Palanr Technologies Inc.

Q1

Business Update

In Q1, the US Army awarded Palanr over $178M to deliver TITAN Next Generaon Deep-Sensing Capability.

As the prime for the Army's first AI-defined vehicle, Palanr will provide the crical foundaon to correlate, fuse, and integrate sensor data for more advanced beyond-line-of-sight targeng.

See TITAN in acon

© 224 Palanr Technologies Inc.

Q1

Business Update

Palanr & the

How data-driven

acquision idenfied over $90M in savings for the Department of Veterans Aairs in six months.

Read more

© 224 Palanr Technologies Inc.

Q1

Business Update

Palanr & Oracle

Partnering to provide secure cloud and AI soluons that power businesses and governments around the world.

Read more

© 224 Palanr Technologies Inc.

Q1

Business Update AIP BOOTCAMPS

P Bootcamps: Deploying Full Spectrum n Days

"... these AIP bootcamps are like doing four months of work in one day..."

Stephen Ecker → Vice President of Data & Analycs

© 224 Palanr Technologies Inc.

Q1

Business Update AIP BOOTCAMPS

Since launching AIP in mid-2023, we have completed AIP Bootcamps with 915+ organizaons in the United States and around the world.

"We're saving about $14M annually, and it's only deployed to a part of our network."

Dave Jacke,

Sr. Director, Supply Chain

Digital Transformaon

"In less than four months, we created something from POC all the way to producon. Palanr has made us faster and smarter."

Elaina Wheeldon,

VP of Data Products,

Applied AI, & Analycs

"You all have changed the percepon of technology delivery. This is absolutely game-changing."

Fred Rothman,

Chief Operang Ocer

© 224 Palanr Technologies Inc.