Investor Presentation

First Quarter Fiscal Year 2023

This 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.
GitLab at a Glance

1 5,168 545 100% Remote

Base Customers1 Since inception
Business Platform >$100K Customers

$350M 75% >130% 90%

Financial Run-Rate Revenue1 YoY Run-Rate Dollar-Based Net Non-GAAP Gross
Revenue Growth2 Retention Rate1 Margin3

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.
Every Company is Becoming a Software Company
Financial Services Public Sector Retail Transportation
THEN
NOW

Mobile
Banking

© UBS 2019 All rights

reserved
DevOps is
The Way to Make Software

Waterfall Agile DevOps

Time
The Four Phases of DevOps
BYO DevOps BIC DevOps DIY DevOps DevOps Platform
Bring-Your-Own Best-In-Class Do-It-Yourself Single Application

Disparate set of tools Standardized toolchain Custom integration

 Business Developers Security Operations

The One
DevOps Platform
One user interface

for software innovation

○ Project planning Plan Create Package Release Monitor

○ Source code management

○ Continuous integration
○ Infrastructure configuration Manage Verify Secure Configure Protect
○ Incident monitoring
○ Application security
○ And so much more...
Unified data model
Consolidation onto DevOps Platforms
Supports Long-Term Market Growth

60%
“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
20%

2021 2024

Increase in Platform usage correlates to a decrease in point solution usage

1
Gartner 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
GitLab Streamlines Collaboration Across Personas

Compliance R&D Product Designers Developers Security Operations Platform Security

Pros Execs Managers Pros Pros Engineers Pros

The One DevOps Platform

Manage Plan Create Verify Secure Package Release Configure Monitor Protect
The One
DevOps
Platform
for software innovation
Creating Interdependence and Driving Adoption Downstream

Manage
Subgroups Audit events Value stream Insights Audit reports Compliance Code analytics DevOps
management management reports

Land Current expansion Future expansion

Foundational entry point

Plan Create Verify Secure Package Release Configure Monitor Protect

Issue tracking Source code Continuous SAST Package Auto DevOps Incident Container
Continuous
management integration registry management scanning
delivery (CD)
Time tracking (SCM) (CI) DAST Kubernetes
Dependency management Metrics Container
Boards Code review Accessibility Fuzz testing proxy Pages host security
testing Infrastructure Error tracking
Epics Snippets Dependency Container Review apps as code Container
Code testing testing registry Logging network
Service desk Wiki and coverage Advanced Secrets security
Secret Helm chart deployments management Product
Design Static site Merge trains detection registry analytics Security
management editor Feature flags ChatOps orchestration
Performance Vulnerability Release Tracing
Roadmaps Web IDE testing management evidence Release Serverless
orchestration Runbooks
Requirements Live preview Usability Code quality Git LFS Cluster cost
management testing management On-call
License schedule
Quality compliance management
management

Lovable/complete Viable Minimal

Accelerate
New product
Innovation version released
127 Months1
in a row
Dual-Flywheel
Development Strategy

1
As of April 30, 2022
GitLab Can Enable Level 4
Delivery of 407% ROI Revenue acceleration due to faster cycle time

Within Three years

Level 3
of Deployment1 Higher productivity due to a
better developer experience

Level 2
Typical break-even point Eliminate tool chain integration costs

ROI
Level 1
Software tool license cost reduction

Time (with growing GitLab adoption across your organization)

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.
Our Opportunity
Aligning our Go-to-Market Strategy
to our Opportunity

Go-to-Market Advantages
High value
enterprise sales
• Viral product adoption
• Strong product familiarity
Large Enterprise
• Bottoms-Up adoption High velocity
inside sales
• Massive base of Free Users
• Demanded by Developers Mid-Market

Self-serve
SMB
We Don’t Price Per Stage
Free Premium Ultimate
$
0 per user
per month
$
19 per user
per month
$
99 per user
per month

Buyer Persona: Individual Contributors Buyer Persona: Directors (all users Buyer Persona: Executives (all users
within organization have the same plan*) within organization have the same
• All stages of the DevOps lifecycle plan*)
• Open source license (MIT) • All the benefits of Free
• Faster code reviews • All the benefits of Premium
• Operational insights • Advanced security testing
• Project management • Portfolio management
• Code and deployment release controls • Compliance and planning
• 24/7 customer support • Value stream analytics
• Unlimited guest users at no additional cost

Fastest Growing Tier

* Highest level plan in use at the organization will be the one rolled out to all users within the business.
Agnostic to How We Deploy Our Platform

GitLab.com (SaaS) Fully-Managed Self-Managed

• Software fully managed by GitLab • Majority of installations are in the public cloud

• For customers who want to consume as • Software instance managed by the customer
a service
• For customers seeking control of deployment

Single codebase across both deployment options

Customers Across a Wide Array of Verticals
Public Financial Media & Consumer / Software /
Industrials Internet
Sector Services Telecom Retail Core Tech

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)).
Challenge
• 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.
“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
Benefits in terms of communication from a transparency
• Consistent developer experience: Using GitLab as the perspective. We also talk about how we can improve
DevOps platform, they have improved developer output, [something] on the GitLab side or on the T-Mobile
running about 3 million CI/CD jobs every month. side and both parties are coming up with ideas to
• Better products faster: T-Mobile has achieved 10x the make for a better experience. That's the definition of
deployment frequency by switching to GitLab, while also a strategic partnership.”
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. 8,500+ developers run 3 million+ CI/CD jobs
monthly and have 10x deployments after replacing
point-solutions with GitLab SaaS Premium
Challenge
• 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.

Benefits
• Consistent developer experience: Using GitLab as the
DevOps platform, they have improved developer output, 12,000 users and 54,000 source code
running about 3 million CI/CD jobs every month. repositories migrated from two legacy
• Enabled UBS to engineer solutions that offer a improved point-solutions to GitLab Ultimate
client experience Self-Managed
• 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

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.
Investing in Building out our Ecosystem

Infrastructure Partners Technical Partners Service Partners

Allow GitLab to deliver better Integrate with GitLab to deliver Sales and integration partners
software faster. Our cloud customized DevOps solutions that help customers achieve
native integrations are a across industries and use cases technical and business goals in
direct line to environments digital transformation
trusted by developers

Representative Partners
Driven by a Distinguished Company Culture
CREDIT Value Hierarchy Prioritizes Results

Results

Iteration Transparency

Collaboration Diversity, inclusion and belonging Efficiency

20 Documented ways in which we reinforce Our Values

All-remote
Company 1,700+ ~65
Team Members Countries
since 2014
● Wider, more diverse, and more uniquely skilled

●
global talent pool
Measurable objectives > prescribed hours
2,300+ 0
● Shifts based on when employees are most Handbook Webpages Headquarters
productive
● Engaged and passionate team
● No physical locations
Financial Highlights
Financial $350M 75%
Highlights Run-Rate Revenue1 YoY Run-Rate
Revenue Growth2

5,168 545
Base Customers1 > $100K Customers
Q1 FY’2023

1
Definition can be found in the Appendix.
90% >130%
2
Represents growth in revenue from annualized Q1 FY22 to annualized Q1 FY23. Non-GAAP Gross Dollar-Based Net
3
See Appendix for reconciliation with most directly comparable GAAP figure. Margin3 Retention
 75%
Strong Momentum at Scale YOY Growth

Run-Rate Revenue1 (millions)

1 Definition can be found in the Appendix.

Growing Customer Base

Base Customers 1 Customers Generating > $100k ARR

1 Definition can be found in the Appendix.

Continued Investment in Growth with
Significant Operating Leverage
Non-GAAP Gross Margin 1 Non-GAAP Operating Expenses 1 (% of Revenue)

1 Non-GAAP metrics-see Appendix for reconciliation with most directly comparable GAAP figure.
Driving Operating Efficiency While Maintaining Growth
Non-GAAP Operating Loss1 (% of Revenue) GAAP Operating Cash Flow (% of Revenue)

Increasing operating leverage Cash efficient business

1 Non-GAAP metrics-see Appendix for reconciliation with most directly comparable GAAP figure.
Enduring 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

Financial Outlook
Second Quarter and Fiscal Year 2023
($ in millions, except per share data)

Q2 FY 2023 Guidance FY 2023 Guidance

Revenue $93.5 - $94.5 $398.0 - $402.0
Non-GAAP operating loss $(34.0) - $(33.0) $(130.5) - $(127.5)
Non-GAAP net loss per share $(0.24) - $(0.23) $(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.
Appendix
Definitions
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.
GAAP to Non-GAAP Reconciliation
Gross Profit ($ in thousands)

FY 2021 FY 2022 Q1 FY22 Q1 FY23

GAAP Gross Profit $133,713 $222,668 $43,505 $77,559
Add: Stock-based Compensation Expense 1,185 1,300 152 790
Add: Amortization of Intangible Assets 0 334 0 504
Non-GAAP Gross Profit $134,898 $224,302 $43,657 $78,853
Non-GAAP Gross Profit Margin % 89% 89% 87% 90%

Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes.
GAAP to Non-GAAP Reconciliation
Sales & Marketing Expense ($ in thousands)

FY 2021 FY 2022 Q1 FY22 Q1 FY23

Sales & Marketing Expense $154,086 $190,754 $38,854 $66,710
Less: Stock-based Compensation Expense (21,504) (10,550) (1,439) (7,051)
Non-GAAP Sales & Marketing Expense $132,582 $180,204 $37,415 $59,659
As % of Revenue 87% 71% 75% 68%

Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes.
GAAP to Non-GAAP Reconciliation
Research & Development Expense ($ in thousands)

FY 2021 FY 2022 Q1 FY22 Q1 FY23

Research & Development Expense $106,643 $97,217 $21,340 $31,830
Less: Stock-based Compensation Expense (31,519) (8,305) (965) (5,036)
Non-GAAP Research & Development Expense $75,124 $88,912 $20,375 $26,794
As % of Revenue 49% 35% 41% 31%

Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes.
GAAP to Non-GAAP Reconciliation
General & Administrative Expense ($ in thousands)

FY 2021 FY 2022 Q1 FY22 Q1 FY23

General & Administrative Expense $86,868 $63,654 $9,339 $21,892
Less: Stock-based Compensation Expense (57,638) (9,854) (875) (4,594)
Add: Amortization of Acquired Intangibles (222) (331) (84) (77)
Non-GAAP General & Administrative Expense $29,008 $53,469 $8,380 $17,221
As % of Revenue 19% 21% 17% 20%

Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes.
GAAP to Non-GAAP Reconciliation
Operating Loss ($ in thousands)

FY 2021 FY 2022 Q1 FY22 Q1 FY23

GAAP Operating Loss $(213,884) $(128,957) $(26,028) $(42,873)
Add: Stock-based Compensation Expense 111,846 30,009 3,431 17,471
Add: Amortization of Acquired Intangibles 222 665 84 581
Non-GAAP Operating Loss $(101,816) $(98,283) $(22,513) $(24,821)
Non-GAAP Operating Loss Margin % (67%) (39%) (45%) (28%)

Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes.
GAAP to Non-GAAP Reconciliation
Net Loss Attributable to GitLab ($ in thousands)

FY 2021 FY 2022 Q1 FY22 Q1 FY23

Net Loss Attributable to GitLab $(192,194) $(155,138) $(27,937) $(26,099)
Add: Stock-based Compensation Expense 111,846 30,009 3,431 17,471
Add: Amortization of Acquired Intangibles 222 665 84 581
Add: Foreign Exchange (Gains) Losses, Net (23,423) 29,140 1,051 (860)
Add: Loss from Equity Method Investment, Net of Tax 0 0 0 203
Add: De-Consolidation (Gains) Losses 0 0 0 (17,798)
Non-GAAP Net Loss Attributable to GitLab $(103,549) $(95,324) $(23,371) $(26,502)
Non-GAAP Net Loss Margin % (68%) (38%) (47%) (30%)

Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes.
Thank you