Investor Presentation

Suresh Vasudevan, Chief Executive Officer Anup Singh, Chief Financial Officer As of May 29, 2014

Safe Harbor

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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

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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

4 4

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

402

1,372

3,097

Q1FY13 Q1FY14 Q1FY15

Cumulative Customer Base

$14.0

$53.8

$125.7

$22.1

$46.5

FY12 FY13 FY14 Q1FY14 Q1FY15

+134%

Revenue Growth

+110%

*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

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Enterprises Today are Overwhelmed

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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

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Our Innovative Platform

CASL Flash-optimized

file system software

InfoSight Cloud-based

management/support

Integrated Protection

Rapid backup and recovery

Non-disruptive, flexible scaling to

massive scale

Scale-to-Fit

Peak system health and availability

Proactive Wellness Efficiency

Significantly better performance/$ and

capacity/$

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?

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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

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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

Lower TCO: Global Office Products Company

Competitor Solution 3 Racks of “Tier 1” storage

40TB Usable Storage in 126U

Nimble Solution 2 CS 460 arrays

59TB Usable Storage in 6U

“Nimble has given us much more flexibility with primary storage and data protection and a much more resilient infrastructure – all at a much lower cost.”

—IT Platform Lead

§  SQL Server and SAP applications

§  Incumbent: Traditional “Tier 1” Storage

§  Core project drivers: –  Minimize data center

costs like power, cooling –  Reduce storage

capacity costs –  Reduce complexity

9X Reduction in Storage Costs

20X Reduction Footprint

50% Savings in Data Protection Costs

Zero Impact to Performance

Replaced With

Challenges

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§  Local storage approach could not keep up with Big Data business demands

§  Constant trade-off between IO and capacity

§  Lack of consolidated provisioning and management

§  Adding nodes to support storage was not a cost effective solution

§  Individual storage pools present challenges for data protection

Challenges

§  CASL meets IO demands for mixed workloads

§  Nimble scale-to-fit architecture meets both IO and capacity requirements

§  Achieved a more consolidated and efficient approach to storage management

§  Reduced cost by reducing the number of required HP Vertica nodes

§  Nimble snapshots, clones and replication improve data protection and eliminate risk

Nimble Advantage Nimble Solution

Customer Case Study: Fortune 50 Telecommunications Company

Fortune 500 Engineering & Construction Company

Competitor Solution Nimble Solution

Fortune 500 Engineering & Construction Company

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§  Challenges with environment including almost 80% physical servers & multiple SAN storage from EMC and NetApp

§  Struggled with performance for Autonomy e-discovery & Oracle data warehouse on existing SAN.

§  Data protection was at risk with application backups taking over 10 hour

Challenges §  Increased performance for Autonomy & Oracle data warehousing

§  Application performance was up by 130%

§  Snapshot-based backup and replication for DR has allowed them to eliminate tape and eliminate traditional backup windows

§  Data reduction allowed them to store 2.3 times more data per TB of useable capacity, thus substantially lowering capital costs

§  Saving $3,500 per month in power, cooling and space

Nimble Advantage

Nimble SmartStack

Consolidation and Efficiency at a Global Oil and Gas Leader

§  Global Energy leader with hundreds of remote sites

§  Initial VDI project goal to consolidate thousands of employee desktops at hundreds of field locations

§  XenDesktop deployment with incumbent storage experienced serious performance issues, prompting a competitive bake-off with Nimble

Challenges

§  Price-performance: 72% lower cost per IOPS

§  Cost of capacity: 37% compression, coupled with low-cost, high-density HDDs

§  Time to recover virtual PCs lower by 50%

§  Calls to help desk reduced dramatically

Nimble VDI Solution

§  3000 VDI users §  64TB and 30K

IOPS on average

Nimble Expanded Use Cases

Phase 2: Exchange §  11,500 mailboxes §  ~60TB used §  HA architecture across

two data centers

Phase 3: ESX Farm §  600 VMs §  4 systems with over

200 TBs

10 systems and over 600 TB of capacity in

18 months

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Traditional Storage Management is Inefficient and Expensive

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Vendor Support Customers

Q&A

Diagnostics

Logs

? # !

Existing Approach

Traditional Storage Management is Inefficient and Expensive

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§ 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

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§  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

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Predicting Customers’ Storage Expansion Needs**

customers expanded capacity

385 103 customers

expanded flash

37 customers

upgraded controllers

Proactive Support Prevents Problems*

92%

81%

of the cases automatically opened by Nimble

of support cases auto-closed by Nimble

* InfoSight case percentages based on 9 month period through Q1FY15 ** Customer storage expansion needs based on 12 month period through Q1FY15

Market Response Has Led to Rapid Growth in Our Installed Base

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33

97

211

Q1FY13 Q1FY14 Q1FY15

40

131

285

Q1FY13 Q1FY14 Q1FY15

Cumulative Customer Base Number of Large Enterprises*

Number of Cloud Service Providers

402

1,372

3,097

Q1FY13 Q1FY14 Q1FY15

*Company estimates of Global 5,000 customers

Broad Appeal

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Diversified Workloads*

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

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

7% Manufacturing

7% State/Local

Govt 9%

Healthcare

10% Education

10% Hi Tech

11% Service Provider

14% Financial

24% Other

3% Legal

5% Energy

Diversified Market Verticals*

*Based on 12 month period through Q1 FY15. Y axis represents % of systems in the field that handle this type of workload

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

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Note: Bookings defined as a purchase order received; statistics as of April 30, 2014 * Top 50 of all customers that have been Nimble Storage customers for 4 or more quarters; Of the 50, 20 customers have 8 quarters of history.

Average: All Customers

Initial Sale Total: Year 1 and 2

4.8X

1X

Top 50 Customers*

Initial Sale Total: Year 1 and 2

2.1X 1X

Channel Leverage

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Base of Accredited SEs**

Active Reseller AEs*

Engagement Levels

732

2,189

Q1FY14 Q1FY15

+199%

Reseller Led New Customer Wins****

Channel Generated Opportunities***

Opportunities & Customer Wins

1,013

1,751

Q1FY14 Q1FY15

+73%

66

178

Q1FY14 Q1FY15

+170%

335

685

Q1FY14 Q1FY15

+104%

* Total number of reseller AEs that closed 1 or more deals during the fiscal quarter ** Total cumulative number of accredited SEs as of the end of each fiscal quarter *** Total number of opportunities generated by partners during the fiscal quarter **** Total number of new customers during the quarter where the reseller contributed 75% (or greater) of total effort to close the deal.

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

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Exchange CRM SQL

Financial Highlights

Strong revenue growth with a significant “land and expand” opportunity

Attractive and best-in-class gross margin profile

Investments to expand differentiation and capitalize on large market opportunity

Improving operating leverage and cash flow from operations

Attractive long term financial model

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$8.2 $11.0

$14.6

$20.2 $22.1

$28.5

$ 41.7

$ 46.5

Q1FY13 Q2FY13 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15

Product Revenue Support and Service Revenue

Quarterly Revenue

Rapid Revenue Growth

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Annual and Q1 Revenue*

$33.4

$14.0

$53.8

$125.7

$22.1

FY12 FY13 FY14 Q1FY14 Q1FY15

$46.5

Product Revenue Support and Service Revenue

+ 134%

+ 110%

*Fiscal year ends on January 31

Growth Drivers

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402

1,372

3,097

Q1FY13 Q1FY14 Q1FY15

Cumulative Customer Base Customers

% New vs. Existing Customer Bookings

100 49

58

0

100

200

Initial Sale Year 1 Year 2 Total

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

207

New customers

Existing customers

64%

36%

12 months thru Q1FY15

Land and Expand

7 4 %

12months thru Q1FY14

26%

* Defined as the dollar value of a purchase order received; statistics as of April 30, 2014 ** Number of deals for 12 month period through Q1FY14 and Q1FY15

% Customer Bookings > $100K

Number of Deals > $100K**

Bookings <$100K

Bookings >$100k

64%

36%

12 months thru Q1FY15

Deals >$100K

177

393

TTM Q1FY14 TTM Q1FY15

+122%

Attractive Gross Margin Profile

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61.8%

64.3%

66.4% 67.2%

66.2%

Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15

65.8% 69.0%

22.8%

44.8%

Q1FY14 Q1FY15

Product Gross Margin Support and Service Gross Margin

Quarterly Gross Margin* Product and Support and Service Gross Margin*

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

$6

$14

$24

Q1FY13 Q1FY14 Q1FY15

$3 $6

$12

Q1FY13 Q1FY14 Q1FY15

Investing Aggressively for Continued Growth

60

120

188

Q1FY13 Q1FY14 Q1FY15 Head Count

72% 62% 52%

Q1FY13 Q1FY14 Q1FY15 % of Revenue Head Count

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$ Millions

$ Millions

93

211

356

Q1FY13 Q1FY14 Q1FY15

Research and Development*

Sales and Marketing*

37% 27% 25%

Q1FY13 Q1FY14 Q1FY15 % of Revenue

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

-47%

-27%

-36%

-22%

FY13 FY14 Q1FY14 Q1FY15

Demonstrating Operating Leverage

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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 minus capital expenditures

-33%

1%

-39%

-7%

Q2FY13 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15

Operating Cash Flow as % of Total Revenue

Free Cash Flow as % of Total Revenue

Business Model

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FY13 FY14 Q1FY15 Long-Term Model Gross Margin* 62% 65% 66% 63%–65%

R&D as % of Revenue* 28% 26% 25% 11%–13%

S&M as % of Revenue* 72% 57% 52% 28%–31%

G&A as % of Revenue* 9% 9% 10% 5%–6%

Non-GAAP Operating Margin -47% -27% -22% 16%–20%

*Reflects Non-GAAP Gross Margin, R&D, S&M, G&A and Operating Margin, see appendix for reconciliation Note: due to rounding, numbers presented above may not sum to total.

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

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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

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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

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($ in thousands) FY12 FY13 FY14 Q1FY13 Q1FY14 Q2FY14 Q3FY14 Q4FY14 Q1FY15

GAAP Product Gross Profit 7,880 32,499 76,581 4,965 13,151 17,240 20,564 25,626 28,224% GAAP Product Gross Margin 60.1% 65.3% 67.9% 65.9% 65.6% 67.0% 68.8% 69.0% 68.4%(+) Stock-based Compensation 10 48 232 4 40 38 52 102 231

Non-GAAP Product Gross Profit 7,890 32,547 76,813 4,969 13,191 17,278 20,616 25,728 28,455Non-GAAP Product Gross Margin 60.2% 65.4% 68.1% 66.0% 65.8% 67.2% 69.0% 69.2% 69.0%

GAAP Support and Service Gross Profit (145) 891 4,941 213 430 940 1,458 2,113 1,988% GAAP Support and Service Gross Margin -16.1% 21.9% 38.2% 34.2% 20.7% 34.1% 41.3% 46.4% 37.4%(+) Stock-based Compensation 31 114 468 21 43 88 127 210 393

Non-GAAP Support and Service Gross Profit (114) 1,005 5,409 234 473 1,028 1,585 2,323 2,381Non-GAAP Support and Service Gross Margin -12.7% 24.7% 41.9% 37.6% 22.8% 37.3% 44.9% 51.0% 44.8%

GAAP Gross Profit 7,735 33,390 81,522 5,178 13,581 18,180 22,022 27,739 30,212% GAAP Gross Margin 55.2% 62.0% 64.8% 63.5% 61.4% 63.8% 65.9% 66.5% 64.9%(+) Stock-based Compensation 41 162 700 25 83 126 179 312 624

Non-GAAP Gross Profit 7,776 33,552 82,222 5,203 13,664 18,306 22,201 28,051 30,836% Non-GAAP Gross Margin 55.5% 62.3% 65.4% 63.8% 61.8% 64.3% 66.4% 67.2% 66.2%

GAAP Research and Development 7,903 16,135 35,247 3,150 6,318 8,058 9,361 11,510 14,217(-) Stock-based Compensation 268 874 3,049 159 367 547 781 1,354 2,440

Non-GAAP Research and Development 7,635 15,261 32,198 2,991 5,951 7,511 8,580 10,156 11,777

GAAP Sales and Marketing 12,863 39,851 75,107 6,040 14,160 17,268 19,902 23,777 29,202(-) Stock-based Compensation 244 1,029 3,674 176 498 623 850 1,703 4,921

Non-GAAP Sales and Marketing 12,619 38,822 71,433 5,864 13,662 16,645 19,052 22,074 24,281

GAAP General and Administrative 3,756 5,168 13,737 1,047 2,301 3,041 3,130 5,265 6,437(-) Stock-based Compensation 267 539 1,726 117 207 331 455 733 1,572

Non-GAAP General and Administrative 3,489 4,629 12,011 930 2,094 2,710 2,675 4,532 4,865

GAAP Operating Expenses 24,522 61,154 124,091 10,237 22,779 28,367 32,393 40,552 49,856(-) Stock-based Compensation 779 2,442 8,449 452 1,072 1,501 2,086 3,790 8,933

Non-GAAP Operating Expenses 23,743 58,712 115,642 9,785 21,707 26,866 30,307 36,762 40,923

GAAP Operating Loss (16,787) (27,764) (42,569) (5,059) (9,198) (10,187) (10,371) (12,813) (19,644)% of Revenue -120% -52% -34% -62% -42% -36% -31% -31% -42%(+) Stock-based Compensation 820 2,604 9,149 477 1,155 1,627 2,265 4,102 9,557

Non-GAAP Operating Loss (15,967) (25,160) (33,420) (4,582) (8,043) (8,560) (8,106) (8,711) (10,087)% of Revenue -114% -47% -27% -56% -36% -30% -24% -21% -22%

Net Cash Provided by (Used in) Operating Activities (14,841) (18,754) (6,742) (6,093) (4,876) (3,780) (271) 2,185 452% of Revenue -105.9% -35% -5% -75% -22% -13% -1% 5% 1%(-) Property and Equipment, Net 1,303 3,954 13,613 658 1,884 1,542 4,726 5,461 3,728

Free Cash Flow (16,144) (22,708) (20,355) (6,751) (6,760) (5,322) (4,997) (3,276) (3,276)% of Revenue -115.2% -42% -16% -83% -31% -19% -15% -8% -7%