Nimble Storage Announces First Quarter 2017 Results

San Jose, Calif. – May 24, 2016 – Nimble Storage (NYSE: NMBL), the leader in predictive flash storage solutions, today reported financial results for the fiscal first quarter 2017. The company has released a discussion of these results by posting the current Shareholder Letter on its website at http://investors.nimblestorage.com.

“We saw strong customer and channel partner interest in our All Flash Arrays with deal sizes substantially above our overall average. All Flash Arrays accounted for 12% of our total array bookings during the first quarter after launch,” said Suresh Vasudevan, chief executive officer. “Our Unified Flash Fabric combines industry-leading All-Flash and Adaptive Flash arrays into a single architecture that accelerates every application at a total cost of ownership that is unmatched in the industry.”

“We delivered solid financial results in Q1 as we executed against our financial and operational plans as outlined last quarter. We saw steady progress in larger deals greater than $250K, which were up 51% year-over-year, and continued growth in our customer base, which was up 48% year-over-year,” said Anup Singh, chief financial officer.

First Quarter Fiscal 2017 Financial Highlights:

An explanation of non-GAAP measures and a reconciliation of non-GAAP to GAAP results are provided below.

Forward Outlook:

Nimble Storage provides guidance based on current market conditions and expectations. For the second quarter of fiscal 2017, Nimble Storage expects:

Business Highlights

Conference Call Information

As previously announced, Nimble Storage will host a live question and answer conference call and webcast today at 5:00 p.m. ET (2:00 p.m. PT) to discuss its financial results for the first quarter of fiscal year 2017.

Interested parties may access the call by dialing 877-604-9673 in the U.S. or 719-325-4773 from international locations. In addition, a live audio webcast of the conference call will be available on the Nimble Storage Investor Relations website at http://investors.nimblestorage.com. The live webcast will

be archived and available on this site for 45 days. A replay of the conference call will be available for 45 days. To access the replay, please dial 888-203-1112 and enter pass code 2350418. Callers outside the U.S. and Canada should dial 719-457-0820 and enter pass code 2350418.

Non-GAAP Financial Measures

To provide investors with additional information regarding our financial results, Nimble Storage has disclosed in this release and the accompanying tables non-GAAP financial measures that are not calculated in accordance with generally accepted accounting principles in the United States, or GAAP. The company provides non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share, non-GAAP free cash flow and adjusted EBITDA. In computing these non-GAAP financial measures, the company excludes the effects of stock-based compensation, which is a recurring non-cash expense for the company. The company has provided a reconciliation below of non-GAAP financial measures to the most directly comparable GAAP financial measures. A reconciliation of the Q2FY17 forward outlook for non-GAAP operating loss or non-GAAP net loss per basic and diluted share is not available without unreasonable efforts as the quantification of stock-based compensation expense requires additional inputs such as number of shares granted and market price, that are not ascertainable.

The company discloses these non-GAAP financial measures because they are key measures used by the company’s management and board of directors to understand and evaluate operating performance and trends, to prepare and approve the annual budget and to develop short-term and long-term operational and compensation plans. In particular, the exclusion of certain expenses in calculating non-GAAP financial measures can provide a useful measure for period-to-period comparisons of the company’s business. Accordingly, the company believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the company’s operating results in the same manner as the company’s management and board of directors.

Non-GAAP financial measures have limitations as analytical tools and, as such, should not be considered in isolation or as substitutes for analysis of the company’s results as reported under GAAP. Some of these limitations are:

Forward-Looking Statements

This press release contains “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 press release, including our current beliefs and expectations concerning our future financial results, business plans, strategy and objectives, competitive position and industry environment.

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, which is inherently uncertain, unforeseen delays in product development or introduction, uncertainty around market acceptance of our solutions, our ability to increase sales of our solutions, including recently introduced products, our ability to attract and retain customers and to sell 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), introduction of new technologies and products

by other companies, changes in technologies, which could render our solutions less competitive, our ability to maintain, protect and enhance our brand and intellectual property, the effectiveness of our channel partners and sales team, our ability to convert leads into sales, our ability to recruit new or keep our existing key talent, global economic conditions, fluctuations in foreign currency rates 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 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed 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 the company, nor any other person, assumes 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.

Nimble Storage Resources

About Nimble Storage

Nimble Storage (NYSE: NMBL) is the leader in predictive flash storage solutions. Nimble offers a Predictive Flash platform that combines flash performance with predictive analytics to predict and prevent barriers to data velocity caused by complex IT infrastructure. Nimble customers experience absolute performance, non-stop availability and cloud-like agility that accelerate critical business processes. More than 8,100 enterprises, governments, and service providers have deployed the Nimble Predictive Flash Platform across more than 50 countries. For more information visit www.nimblestorage.com and follow us on Twitter: @nimblestorage.

Nimble Storage, the Nimble Storage logo, CASL, InfoSight, Timeless Storage, Data Velocity Delivered, Unified Flash Fabric and NimbleConnect are trademarks or registered trademarks of Nimble Storage, Inc. Other trade names or words used in this document are the properties of their respective owners.

Press Contact:

Kristalle Cooks

408-514-3313

Kristalle@nimblestorage.com

Investor Relations Contact:

Edelita Tichepco

408-514-3379

IR@nimblestorage.com

SOURCE: Nimble Storage

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Preliminary Consolidated Statements of Operations

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Reconciliation of GAAP to Non-GAAP Financial Measures

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