Investor Presentation Suresh Vasudevan, Chief Executive Officer Anup Singh, Chief Financial Officer As of February 27, 2014

Safe Harbor

1

This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently

available to management. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the U.S. Private Securities

Litigation Reform Act of 1995. Forward-looking statements include all statements other than statements of historical fact contained in this presentation, including information concerning our

financial outlook, business plans and objectives, potential growth opportunities, competitive position, industry environment and potential market opportunities.

Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors including, but not limited to, those related to our future financial performance,

market acceptance of our solutions, our ability to increase sales of our solutions, including to attract and retain customers and to selling additional solutions to our existing customers, our ability

to develop new solutions and bring them to market in a timely manner, pricing pressure (as a result of competition or otherwise), our ability to maintain, protect and enhance our brand and

intellectual property, global economic conditions and our ability to continue to expand our business and manage our growth. Moreover, we operate in very competitive and rapidly changing

environments, and new risks may emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to

which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and

other factors that could affect our financial results are included in our filings we make with the Securities and Exchange Commission, and may cause our actual results, performance or

achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements.

You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our forward-looking statements are

reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur.

Moreover, neither we, nor any other person, assume responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to publicly update any

forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations, except as required by law.

In addition to GAAP financial information, this presentation includes certain non-GAAP financial measures. The non-GAAP measures have limitations and you should not consider them in

isolation or as a substitute for our GAAP financial information. There are limitations to the use of non-GAAP measures. For example, bookings and free cash flow are not substitutes for

revenues or cash provided by operations. In addition, non-GAAP operating expenses exclude the impact of stock-based compensation expense, which is a recurring expense for us. See the

Appendix for a reconciliation of these non-GAAP financial measures to their nearest GAAP equivalent.

Founding Thesis: Opportunity for a Ground-Up Design of Storage

2

DAS Monolithic Storage

Modular Storage

Today 1980s 1990s 2000s

Cloud Flash

Suresh

Vasudevan

CEO

Varun Mehta

Founder, VP of

Engineering

Umesh

Maheshwari

Founder, CTO

Investment Highlights and Nimble Storage Snapshot

3 3

Disruptive platform built on two foundational innovations: CASL, flash-optimized file system

InfoSight, cloud-based management

Significant and broad-based traction Diverse base of enterprises and service providers

Broad set of workloads

$18B market opportunity*

Exceptional revenue growth with scalable margin profile

Experienced technology and management team

275

1,095

2,645

FY12 FY13 FY14

Cumulative Customer Base

$1.7 $14.0

$53.8

$125.7

FY11 FY12 FY13 FY14

Revenue Growth ($M)

+134%

*Source: Based on company estimates from IDC and Gartner data

Need for Flash Varies Greatly

Analytics

VDI

File/Print

OLTP

Archives

Flash and Disk are Complementary

Component Flash Disk

Random IOPS/$ 30-100X 1X

Sequential IO/$ 1X 3X

Capacity/$ 1X 15X

Endurance Poor Proven

Low High

The key is to efficiently optimize both performance and capacity, and be flexible and

media-agnostic as flash and disk evolve over time

4

Enterprises Today are Overwhelmed

5

20X Compute

10X Network

Poor Application Performance

Storage Same

40-45%*

CAGR

Increasing Demands of Data Growth

Cloud Computing Virtualization Big Data Social and Collaboration

Exacerbating Trends

Mobility

VM / Application Data Management Complexity

CRM

ERP

CRM

ERP

*Source: IDC, The Digital Universe in 2020, sponsored by EMC

CASL Flash-optimized

file system software

InfoSight Cloud-based

management

Our Innovative Platform

6

Rapid backup

and recovery

Non-disruptive, flexible

scaling to massive scale

Predictive support and

operational simplicity

Significantly better

performance/$ and capacity/$

Integrated Protection Scale-to-Fit Ease of Operations Efficiency

Key Decisions in

Ground-Up Design

CASL: Designed from the Ground Up

How do we:

Leverage flash for

performance?

Leverage disk for capacity?

Be media-agnostic and

flexible as the relative merits

of flash and disk evolve?

Leapfrog incumbents on data

management?

7

Snapshots

Replication

Compression Data Management

Functionality

Application

Integration Hypervisors

Operating

Systems

Cloning

Thin Provisioning

Multi-tenancy

File System

Software

Traditional File Systems / Tiering Nimble Advantage CASL Innovations

CASL: A Breakthrough File System

8

Uses 30-70% less disk and

flash resources

Inline Compression,

using variable blocks

Fixed blocks: No compression

Fast random writes need a flash tier

Uses low-cost HDDs to deliver

SSD-like write performance

Inline Serialization of

all incoming write IO

Disk

SSD (Flash) Cache

More Disk

More Flash

Dynamic Caching to

serve reads from flash Uses substantially less, low-cost flash to accelerate reads

Fast reads by migrating between tiers wastes flash

Copy-based snapshots waste capacity and degrade performance

Pointer-Based

Snapshots

Integrated, rapid backup

and recovery

Non-disruptive scaling

in least-cost increments

Scale-to-Fit: Scale-up,

deep and scale-out Scale-Up OR Limited Scale-Out

CASL is more performance and capacity efficient and easy to scale, while delivering integrated data protection

Transforming Storage Efficiency at a Large Bank

9

Storage costs were 30% of the capital budget

Core project drivers:

• Performance scaling

• Storage budget

• Datacenter footprint

Challenges

1.5x usable capacity and 50%

lower capital costs

10x lower power and cooling costs

Dramatically simpler storage

management

Phase 1: Exchange ½ Rack

6 Racks

2.5x performance and 2x usable

capacity at much lower capital costs

75% lower power and cooling costs

Dramatically simpler storage

management

Phase 2: SQL

Databases ¾ Rack

3 Racks

Competitor Hybrid

Disk-Flash Solution Nimble Advantage Nimble VS.

Nimble chosen as the platform for all 11 sites

Each site protected with hourly snapshots for rapid recovery

Data replicated between offices for cost-effective and simple DR

Significant savings on storage and bandwidth

Nimble Approach

Transforming Data Protection at a Global Consulting Firm

10

Boston Data Center

Chicago Data Center

9 Remote Sites

Inadequate data protection in 9 remote sites:

• Tapes for backup

• Offsite tape copies for disaster recovery

Aging storage infrastructure in their main data centers: Boston and Chicago

Challenges

Rethinking infrastructure at all of their 11 sites

Traditional Storage Management is Inefficient and Expensive

11

Vendor Support Customers

Q&A

Diagnostics

Logs

? # !

Existing Approach

Traditional Storage Management is Inefficient and Expensive

12

In a connected world

why can’t vendors

proactively monitor

customer deployed

systems?

With modern data

analytics tools

can vendors predict

and prevent problems

before they occur?

x1,000s of Customers

? ! #

Existing Approach

Vendor

InfoSight: Cloud-Based Management

13

Between 12 and 70M sensors per array, daily

Data collected every 5 minutes and on-demand

Comprehensive

Telemetry

Systems modeling

Correlations, trending, and projections

Analysis and

Automation

Leveraging pervasive network connectivity and big data analytics to automate support and enable cloud-based management

Vast majority of cases opened by Nimble

Secure, on-demand system access

Proactive Wellness

Monitoring and alerting

Visualization, capacity planning, performance management

Storage Management

SaaS Offering

Nimble Approach Customer Benefits

InfoSight Impact In 2HFY14

14

Predicting Customers’ Storage Expansion Needs

customers

expanded capacity

193 42

customers

expanded flash

14

customers

upgraded controllers

Proactive Support Prevents Problems

92%

82%

of the cases

automatically

opened by Nimble

of support cases

auto-closed

by Nimble

Market Response Has Led to Rapid Growth in Our Installed Base

15

26

86

183

FY12 FY13 FY14

27

105

241

FY12 FY13 FY14

Cumulative Customer Base Number of Large Enterprises*

Number of Service Providers

275

1,095

2,645

FY12 FY13 FY14

*Company estimates of Global 5,000 customers

Broad Appeal

16

FY14 Diversified Workloads*

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

VMware SQL Exchange VDI File / Print Sharepoint HyperV Web Apps Oracle

8% Manufacturing

8% Healthcare 8%

State/Local Gov’t

10% Education

12% Hi Tech

12% Financial Services

14% Service Provider &

Services 20% Other

4% Legal

4% Energy

FY14 Diversified Market Verticals

*Y axis represents % of systems in the field that handle this type of workload

Name Q3-2011 Q4-2011 Q1-2012 Q2-2012 Q3-2012 Q4-2012 Q1-2013 Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014 Q3-2014 Q4-2014

Customer1

Customer2

Customer3

Customer4

Customer5

Customer6

Customer7

Customer8

Customer9

Customer10

Customer11

Customer12

Customer13

Customer14

Customer15

Customer16

Customer17

Customer18

Customer19

Customer20

Customer21

Customer22

Customer23

Customer24

Customer25

Customer26

Customer27

Customer28

Customer29

Customer30

Customer31

Customer32

Customer33

Customer34

Customer35

Customer36

Customer37

Customer38

Customer39

Customer40

Customer41

Customer42

Customer43

Customer44

Customer45

Customer46

Customer47

Customer48

Customer49

Customer50

Land and Expand Strategy: 2-Year Bookings After Initial Sale

17

Initial Sale Total: Year 1 and 2

2.16X

1X

Top 50 Customers*

Initial Sale Total: Year 1 and 2

4.10X

1X

Average: All Customers

Note: Bookings defined as a purchase order received; statistics as of Jan 31, 2014

* Top 50 of all customers that have been Nimble Storage customers for 4 or more quarters; Of the 50, 18 customers have 8 quarters of history.

Highly Leveraged Go to Market Approach

18

>900 cumulative channel partners

975 channel sales reps and

channel SEs trained in

FY14

51% of opportunities in FY14

originated by channel 119

434

918

FY12 FY13 FY14

Competitive Landscape

Tape; Low-cost RAID; NAS; Object Storage

Flash-Optimized Hybrid

Flash in Server

All-Flash Arrays

Tape; Low-cost RAID/NAS

Monolithic (e.g., VMAX)

Archives

Mainstream Applications

Real-Time Analytics

Modular

Legacy

VDI

File/Print

OLTP

Modern

Dell EQL/CML

EMC VNX

NetApp FAS

HP 3PAR

19

Exchange

CRM

SQL

Financial Highlights

Strong revenue growth with an attractive and expanding margin profile

Significant “land and expand” opportunity

Investments to expand differentiation and capitalize on large market opportunity

Improving operating leverage and cash flow from operations

Attractive long term financial model

20

$8.2

$11.0

$14.6

$20.2 $22.1

$28.5

$ 41.7

Q1FY13 Q2FY13 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14

Product Revenue Support and Service Revenue

Quarterly Revenue ($M)

Rapid Revenue Growth

21

Annual Revenue ($M)*

$33.4

$1.7 $14.0

$53.8

$125.7

FY11 FY12 FY13 FY14

Product Revenue Support and Service Revenue

+ 134%

*Fiscal year ends on January 31

Growth Drivers

22

275

1,095

2,645

FY12 FY13 FY14

Cumulative Customer Base

Customers

% New vs. Existing Customer Bookings

100 52

64

0

100

200

Initial Sale Year 1 Year 2 Total

2-Year Bookings* After Initial Sale Average Across All Customers

216

New customers

Existing customers

66%

34%

FY14

Land and Expand

75%

FY13

25%

*Defined as the dollar value of a purchase order received; statistics as of Jan 31, 2014

Number of Deals >$100K

32

130

366

FY12 FY13 FY14

+ 182%

Attractive Gross Margin Profile

23

55.5%

62.3%

65.4%

FY12 FY13 FY14

65.4% 68.1%

24.7%

41.9%

FY13 FY14

Product Gross Margin Support and Service Gross Margin

Annual Gross Margin* Product and Support and Service Gross Margin*

*Reflects Non-GAAP Gross Margin; see appendix for reconciliation

$13

$39

$71

FY12 FY13 FY14

$8 $15

$32

FY12 FY13 FY14

Investing Aggressively for Continued Growth

51

99

172

FY12 FY13 FY14

Head Count

90% 72%

57%

FY12 FY13 FY14

% of Revenue Head Count

24

$ Millions

$ Millions

75

177

311

FY12 FY13 FY14

Research and Development*

Sales and Marketing*

55%

28% 26%

FY12 FY13 FY14

% of Revenue

*Reflects Non-GAAP Research and Development and Sales and Marketing, which excludes stock based compensation expense. See appendix for reconciliation.

-114%

-47%

-27%

FY12 FY13 FY14

Demonstrating Operating Leverage

25

v

Cash Flow From Operations and Free Cash Flow % of Revenue **

Improving Operating Margin*

*Reflects Non-GAAP Operating Margin, which excludes stock based compensation expense. See appendix for reconciliation **Free cash flow is defined as net cash from operating activities plus cash used to purchase property and equipment

-75%

5%

-83%

-8%

Q1FY13 Q2FY13 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14

Operating Cash Flow as % of Total Revenue

Free Cash Flow as % of Total Revenue

Business Model

26

FY13 FY14 Q4FY14 Long-Term Model

Gross Margin* 62% 65% 67% 63%–65%

R&D as % of Revenue* 28% 26% 24% 11%–13%

S&M as % of Revenue* 72% 57% 53% 28%–31%

G&A as % of Revenue* 9% 9% 11% 5%–6%

Non-GAAP Operating

Margin* -47% -27% -21% 16%–20%

*Reflects Non-GAAP Gross Margin, R&D, S&M, G&A and Operating Margin, see appendix for reconciliation

Sales and Marketing Invest aggressively to deepen

sales coverage within existing territories, expand internationally, and drive continued

channel leverage

Customers Continue expansion into

large enterprise and service provider customers

People Build best-in-class company

founded on recruiting and retaining the industry’s best talent

Our Strategic Priorities

27

Technology Platform Build on our broad technology

foundation to further extend our differentiation, broaden feature coverage,

and further expand our target market

Positioned To Lead In the Flash-Optimized Storage Era

28

1980s DAS

1990s Monolithic Storage

2000s Modular Storage

Today Flash-Optimized Storage

Providing Our Customers with the Industry’s Most Efficient Data Storage Platform

GAAP to Non-GAAP Reconciliation

29

($ in thousands) FY12 FY13 FY14 4QFY14

GAAP Product Gross Profit 7,880 32,499 76,581 25,626

% GAAP Product Gross Margin 60.1% 65.3% 67.9% 69.0%

(+) Stock-based Compensation 10 48 232 102

Non-GAAP Product Gross Profit 7,890 32,547 76,813 25,728

Non-GAAP Product Gross Margin 60.2% 65.4% 68.1% 69.2%

GAAP Support and Service Gross Profit (145) 891 4,941 2,113

% GAAP Support and Service Gross Margin -16.1% 21.9% 38.2% 46.4%

(+) Stock-based Compensation 31 114 468 210

Non-GAAP Support and Service Gross Profit (114) 1,005 5,409 2,323

Non-GAAP Support and Service Gross Margin -12.7% 24.7% 41.9% 51.0%

GAAP Gross Profit 7,735 33,390 81,522 27,739

% GAAP Gross Margin 55.2% 62.0% 64.8% 66.5%

(+) Stock-based Compensation 41 162 700 312

Non-GAAP Gross Profit 7,776 33,552 82,222 28,051

% Non-GAAP Gross Margin 55.5% 62.3% 65.4% 67.2%

GAAP Research and Development 7,903 16,135 35,247 11,510

(-) Stock-based Compensation 268 874 3,049 1,354

Non-GAAP Research and Development 7,635 15,261 32,198 10,156

GAAP Sales and Marketing 12,863 39,851 75,107 23,777

(-) Stock-based Compensation 244 1,029 3,674 1,703

Non-GAAP Sales and Marketing 12,619 38,822 71,433 22,074

GAAP General and Administrative 3,756 5,168 13,737 5,265

(-) Stock-based Compensation 267 539 1,726 733

Non-GAAP General and Administrative 3,489 4,629 12,011 4,532

GAAP Operating Expenses 24,522 61,154 124,091 40,552

(-) Stock-based Compensation 779 2,442 8,449 3,790

Non-GAAP Operating Expenses 23,743 58,712 115,642 36,762

GAAP Operating Loss (16,787) (27,764) (42,569) (12,813)

% of Revenue -120% -52% -34% -31%

(+) Stock-based Compensation 820 2,604 9,149 4,102

Non-GAAP Operating Loss (15,967) (25,160) (33,420) (8,711)

% of Revenue -114% -47% -27% -21%

Net Cash Provided by (Used in) Operating Activities (14,841) (18,754) (6,742) 2,185

% of Revenue -105.9% -35% -5% 5%

(-) Property and Equipment, Net 1,303 3,954 13,613 5,461

Free Cash Flow (16,144) (22,708) (20,355) (3,276)

% of Revenue -115.2% -42% -16% -8%