Hewlett Packard : 2023 Proxy Statement

Hewlett Packard	2023 Proxy Statement
Enterprise

The last three years have tested all of us with new challenges. Faced with the pandemic, supply chain disruptions, the war in Ukraine, energy shortages, social injustice, and more, we continue to overcome. I am extremely proud of all Hewlett Packard Enterprise has accomplished this past year and of our 60,200 team members around the globe who rise to every challenge and deliver for our customers, partners, and one another.

Working together is the only way we will continue to move forward and accelerate positive change. Working with our customers to solve problems, we can bring revolutionary ideas to life and change the world - advancing the way people live and work.

In 2022, we reached a historic milestone in enabling AI at scale to create new breakthroughs when we crossed the threshold of exascale computing. Together with the U.S. Department of Energy's Oak Ridge National Laboratory and partner AMD, we introduced "Frontier," the world's fastest supercomputer on the Top 500 list. Exascale computing speed will enable organizations to solve problems in ways that were not previously possible.

In the coming years, more advancements in leading-edge technologies will introduce new possibilities. As we work to unlock the promise of these technologies in the future, we have an obligation today to drive transformations that have a positive impact.

HPE is focused on being the technology provider of choice for organizations around the world as they continue to adapt post-pandemic and accelerate their own business transformations.

HPE GreenLake Delivering for Our Customers

Over the last several years, new megatrends around edge, cloud, and data have emerged to shape customer expectations for enterprise technology. We are seeing organizations across every industry continue to accelerate their digital transformations, increasingly with hybrid multi-cloud strategies. Customers are looking for ways to unify their multi-gen IT strategies with a consistent cloud experience across their applications and data - while also enhancing their sustainability.

Anticipating these changes, in 2016, we declared the world would be hybrid and that organizations would use a mix of on- premises and off-premises technology solutions in their digital transformations. And, in 2019, HPE committed to make all our solutions available as a service through a differentiated edge-to-cloud experience. I am proud to say that we have achieved that goal.

Our management team has deployed a strategy that capitalizes on these megatrends and enables HPE to deliver a data- first modernization approach to our customers. The core of our strategy is the HPE GreenLake platform, which offers customers a unified, automated, and secure hybrid-cloud experience, integrated across the edge, data centers, co- locations, and public clouds. Because customers can flexibly scale their IT to meet their business demands, the platform reduces IT inefficiencies, which are a significant source of cost and environmental impact for many organizations. As a result, we can help our customers link digital transformation with sustainable business transformation through HPE GreenLake.

Hewlett Packard	2023 Proxy Statement
Enterprise

HPE exited fiscal 2022 with more than $8.3 billion in HPE GreenLake total contract value - more than twice what it was two years ago. Already, 80 of our top 100 customers have adopted the HPE GreenLake platform. HPE GreenLake enables more than 120,000 users, powers more than two million connected devices, and manages more than one exabyte of data. Our customers are receiving industry-leading operational support and managed services experiences, which has resulted in a 96 percent customer retention rate.

Driving Shareholder Value

HPE GreenLake is accelerating shareholder value creation. In pivoting to a richer mix of software and services, and implementing a consumption-based business model, HPE is increasing both durable recurring revenues and higher gross margins, all of which will drive greater free cash flow.

HPE delivered on its commitments to our shareholders in fiscal year 2022, and our momentum is strong in fiscal year 2023. Our total HPE orders, including as-a service bookings, were the highest ever in 2022, demonstrating enduring demand for our differentiated edge-to-cloud portfolio. In fiscal 2022, we produced $28.5 billion in revenue, five percent higher compared to 2021, and our operational performance resulted in record non-GAAP diluted net earnings per share of $2.02. We generated the second-highest free cash flow in a fiscal year, a total of $1.8 billion - three times what it was in fiscal 2020.

Our distinct innovation with the HPE GreenLake platform, combined with our strong execution, positions us to generate higher recurring revenues, expanded gross and operating margins, and increased free cash flow in fiscal year 2023.

As we shared at our October 2022 Securities Analyst Meeting, in fiscal year 2023 we expect to grow revenue two percent to four percent, adjusted for currency, and grow non-GAAP operating profit four percent to five percent year-over- year. We expect GAAP diluted net EPS of $1.38 to $1.46 and non-GAAP diluted net EPS of between $1.96 and $2.04. And we expect to increase our free cash flow generation in fiscal year 2023 to between $1.9 billion and $2.1 billion.

Our ESG Strategy is Core to Our Business

HPE's ESG strategy is rooted in our business strategy and continues to be an important area of focus, with a company purpose to advance the way people live and work.

Our environmental strategy, focused on minimizing our footprint and enabling transformative efficiency gains, is underpinned by aggressive goals. In 2022, we reaffirmed our promise to become a net-zero enterprise across our entire value chain, accelerating our target date by 10 years from 2050 to 2040. Our transition to an as-a-service company goes hand in hand with our sustainability agenda; the greatest opportunity we have to make a positive impact on the planet is by enabling our customers to transform sustainably through efficient technology and cloud consumption models.

In addition to creating a more sustainable world, we are investing in a diverse and inclusive workforce, recognizing that nothing we do as a company is possible without the right talent bringing different perspectives and ideas to fuel innovation. We are enhancing the diversity throughout HPE by setting diverse hiring, advancement, and representation goals and sharing our progress.

Our team members around the world make our transformation possible through their ingenuity and engagement. They are bringing their energy and ideas to write HPE's next chapter and cement us as the edge-to-cloud market leader.

We have a winning strategy and a winning team. And, with your much appreciated support and confidence in our mission, together, we will ensure the global organizations and communities we serve continue to adapt and thrive.

Antonio Neri President & CEO Hewlett Packard Enterprise

Hewlett Packard	2023 Proxy Statement
Enterprise

Board of Directors*

Daniel Ammann

Pamela L. Carter

Frank A. D'Amelio

Regina E. Dugan

Jean M. Hobby

George R. Kurtz

Raymond J. Lane

Ann M. Livermore

Antonio F. Neri

Charles H. Noski

Raymond E. Ozzie

Gary M. Reiner

Patricia F. Russo

Executive Team*

Thomas E. Black, Jr.	Philip J. Mottram
Executive Vice President,	Executive Vice President,
General Manager, Storage	General Manager, Intelligent Edge
Gerri A. Gold	Antonio F. Neri
Executive Vice President,	President and
President and CEO,	Chief Executive Officer
HPE Financial Services	Tarek Robbiati
Justin Hotard	Executive Vice President,
Executive Vice President,	Chief Financial Officer
General Manager, HPC and AI	John F. Schultz
Neil B. MacDonald	Executive Vice President,
Executive Vice President,	Chief Operating and Legal Officer
General Manager, Compute
Alan R. May
Executive Vice President,
Chief People Officer

* Members of the Board and Executive Team as of February 6, 2023.