HP Today Presentation Notes to Speaker

HP Today Peter Moser, Director and Chief Technologist May, 2015

This presentation contains forward-looking statements that involve risks, uncertainties and assumptions, relating to, among other things, the planned separation. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any statements of the plans, strategies and objectives of HP for future operations, including the separation transaction; the future performance of Hewlett-Packard Enterprise and HP Inc. if the separation is completed; the execution of restructuring plans and any resulting cost savings or revenue or profitability improvements; any projections of revenue, margins, expenses, HP’s effective tax rate, net earnings, net earnings per share, cash flows, benefit plan funding, share repurchases, currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring charges; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the need to address the many challenges facing HP’s businesses; the competitive pressures faced by HP’s businesses; risks associated with executing HP’s strategy; the impact of macroeconomic and geopolitical trends and events; the need to manage third-party suppliers and the distribution of HP’s products and services effectively; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; risks associated with HP’s international operations; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers and partners; the hiring and retention of key employees; integration and other risks associated with business combination and investment transactions; the execution, timing and results of the separation transaction or restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing the separation transaction and restructuring plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2013, and HP’s other filings with the Securities and Exchange Commission, including HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2014. As in prior periods, the financial information set forth in this presentation, including tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be reasonable, these amounts could differ materially from actual reported amounts in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2014. HP assumes no obligation and does not intend to update these forward-looking statements.

To supplement HP’s historical and forecasted financial results presented on a GAAP basis, HP provides revenue on a constant currency basis, HP’s non-GAAP tax rate, non- GAAP diluted net earnings per share and free cash flow. Definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included elsewhere in this presentation and available in the supplemental information provided at www.hp.com/investor/2014OctAnnouncement/.

HP’s management uses revenue on a constant currency basis, HP’s non-GAAP tax rate and non-GAAP diluted net earnings per share to evaluate and forecast HP’s performance before gains, losses or other charges that are considered by HP’s management to be outside of HP’s core business segment operating results. Free cash flow is a liquidity measure that provides useful information to management about the amount of cash available for investment in HP’s businesses, funding strategic acquisitions, repurchasing stock and other purposes.

These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of HP’s results as reported under GAAP. Items such as amortization of purchased intangible assets, though not directly affecting HP’s cash position, represent the loss in value of intangible assets over time. The expense associated with this loss in value is not included in non-GAAP diluted net earnings per share and HP’s non-GAAP tax rate and therefore does not reflect the full economic effect of the loss in value of those intangible assets. In addition, items such as restructuring charges that are excluded from non- GAAP diluted net earnings per share and HP’s non-GAAP tax rate can have a material impact on cash flows and earnings per share. Free cash flow does not represent the total increase or decrease in the cash balance for the period. The non-GAAP financial information that we provide also may differ from the non-GAAP information provided by other companies.

We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We also provide robust and detailed reconciliations of each non-GAAP financial measure to the most directly comparable GAAP measure, and we encourage investors to review carefully those reconciliations.

We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency to the information used by HP’s management in its financial and operational decision-making and allows investors to see HP’s results “through the eyes” of management. We further believe that providing this information better enables investors to understand HP’s operating performance and to evaluate the efficacy of the methodology and information used by management to evaluate and measure such performance.

2. Two separate companies; separate accounting starting in August

3. HPE and HP Inc.; November 1st! 4. Splitting IT; New Style of Business 5. One growth, one income 6. Channel focus continues 7. Two still functioning as one

HP to separate into two new industry-leading public companies

Hewlett-Packard Enterprise HP Inc.

Defining the next generation of technology Leading personal systems and printing company infrastructure, software and services for the New delivering innovation that will empower people to Style of IT. create, interact and inspire like never before.

Meg Whitman Patricia Russo Dion Weisler Meg Whitman President & Chief Chairman President & Chief Non-Executive Executive Officer Executive Officer Chairman

Servers Networking Software Converged Notebooks Mobility Ink Printing Managed Systems Print Services

Storage Services Cloud Desktops Graphics Laser Printing

Hewlett-Packard Enterprise HP Inc. Fortune 50 company Fortune 50 company

 Enterprise Group 48%  Enterprise Services 39%  Personal Systems 59% (1) Revenue Mix  Software 7%  Printing 41%  Financial Services 6%

Financial Revenue Operating Profit Operating Margin Revenue Operating Profit Operating Margin Metrics(1) $58.4B $6.0B 10.2% $57.2B $5.4B 9.4%

#1 in #1-2 in several #2 in Services4 #1 in Commercial PCs6 #2 in Consumer PCs6 Servers2 Software in categories9 in Inkjet7 Market Networking3 Positions in LaserJet7 #4 in Storage5 Leader in Private in Graphics10 Cloud8

Source: (1) Based on publicly reported last 12 months from Q4 fiscal 2013 to Q3 fiscal 2014 revenue and OP after allocating Corp. Unallocated costs; (2) CQ2’14 IDC WW Quarterly Server Tracker (3) CQ2’14 Dell ‘Oro WW Tracker (4) CQ4’13 IDC WW IT Services Tracker (5) CQ2’14 IDC WW External Disk Tracker; (6) CQ2’14 IDC WW PC Tracker(7) CQ2’14 IDC WW HCP Tracker (8) Forrester – Forrester Wave November 2013 (9) Gartner MQ leader in: Information Archiving, Structured Data Archiving, eDiscovery, Web 6 ©Content Copyright Management, 2014 Hewlett- EnterprisePackard Development Content Management, Company, L.P. TheEnterprise information Search, contained Customer herein Communicationsis subject to change Managementwithout notice. (10) CQ2’14 IDC WW Large Format & Digital Press Trackers A history of innovation

1939 1966 1972 1984 1989 2013 2013

1956

1st audio oscillator Minicomputer 1st scientific hand- ThinkJet printing ProLiant servers HP Officejet Pro X Moonshot held calculator series HP Model 200A The HP 2116A is the HP-35 was named Launch of thermal ProLiant servers HP launches the HP introduces audio oscillator world’s first go- in 2000 by Forbes and miniaturized became the first world's fastest Moonshot, a new used to test sound anywhere, do- ASAP one of the “all inkjet printing commercially desktop printer.* class of server equipment. anything computer. time products” that technology. available X-86 based on 10 years changed the world. servers. of research from HP Labs.

*Source: Guinness World Record for fastest time to print 500 sheets by an office color desktop printer, April 2012. Record set on HP X576dw models.

© Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. Enterprise imperatives Mega trends The pressure on IT is high Speed innovation Big Data

Accelerate services Increasing demand for a New Style of Cloud Improve flexibility Business Mobility Do more with less

Manage risk Security

Services Advise Transform Manage Finance Printers & Personal Systems Converged Infrastructure HP Software

IT Printers PCs Tablets Servers Storage Networking Management Analytics Security

Big Data Cloud Mobility Security

Big Data’s Big Bang HP Solutions More and more data to be managed HAVEn, the HP platform for HP Analytics & Data Management, Big Data. the HP services for Big Data

Volume Variety Velocity 14.6 PB* 100M** 1TB***

HAVEn

average stored data per business events per amount of data created company >1,000 second by an industrial machine employees of top 5 per hour industries

Sources: * McKinsey 2009 data – 2011 “Big data: The next frontier for innovation, competition, and productivity” ** Gartner: Actionable Analytics Will Be Driven by Mobile, Social and Big Data Forces in 2013 and Beyond. Published: 25 January 2013 ID: G0024716. *** Gartner: The Information of Things: Why Big Data Will Drive the Value in the Internet of Things Published: 17 April 2013 ID: G00249066. © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. Big Data Cloud Mobility Security

100% of your data 1000x faster answers 1.2 month ROI *

Hadoop/ Autonomy Vertica Enterprise nApps

HDFS IDOL Security

Catalog massive Process and index all Analyze at extreme Collect & unify machine Powering HP Software volumes of distributed information scale in real-time data with ArcSight + your apps data Logger H A V E n

Social Video Audio Email Texts Mobile Transactional Documents IT/OT Search engine Images media data

* Source: Forrester Consulting, April 2013 © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. Big• We Data advise you on transformingCloud, managing, and deliveringMobility your Big Data initiative Security HP Enterprise Services Analytics and Data Management Services

Advisory HP Information Advisory Services Analytics HP Actionable Analytics Services Explore, assess, and examine your data’s Unlock insight hidden in your data with value with workshops, up front assessments advanced analytics and discovery environments

Management HP Information Management Services Governance HP Information Governance Services Seamlessly manage your information Govern your information as a strategic asset ecosystem via methods and technologies through classification, archiving and records management

Integration Enabling Technology Services Integrate and implement solutions leveraging leading software including HP HAVEn, HP Vertica, HP Autonomy, SAP HANA, Oracle BI, Hadoop and SAS

We advise you on transforming, managing, and delivering your Big Data initiative © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. Big Data Cloud Mobility Security NASCAR is driving innovation and enhancing its fan experience with a state-of-the-art interactive media command center created by HP.

It’s a hybrid IT world HP Helion Data explosion and IT complexity will lead to multi-cloud Built for the future, but ready today. environment with many different hybrid computing architectures.

Two-fold growth in global cloud infrastructure is expected within the next 24 months.* Public Private Traditional IT

2014

2016 Hybrid

*Source: Frank Gens, IDC Directions Conference, Key Battles and Strategies for Dominance on the 3rd Platform.

Build & Operate Consume

Private cloud Managed private Managed Virtual Public cloud cloud private cloud & SaaS

HP Helion OpenStack common architecture

Open Secure Agile • Portable, interoperable, and heterogeneous • Enterprise-grade security • Speed time to innovation • Based on open source to accelerate innovation • Visibility, control, and governance for hybrid IT • Scale with the right economics Deploy applications on multiple deployment models • • Reliable, predictable services • Planning, building, and managing expertise

enterprise customers Forrester Research 2000+ use HP for cloud1 rates HP as the sole leader in private of Fortune 100 cloud solutions2 companies use our 1/3 cloud solutions

partners are year over year certified and driving 60%+ growth 250+ business

All backed by a billion dollar commitment to deliver on the open, hybrid world

1. Enterprise customers with more than 1,000 employees - (as of Q313) 2. The Forrester Wave: Private Cloud Solutions, Q4 2013 © Copyright 2014 Hewlett -Packard Development Company, L.P. The information contained herein is subject to change without notice. HP Software A partner with the scale that enterprises can rely on

#1 or #2 Top 10 50,000+ with 94% 7,000 in all markets Software company Customers of Fortune 100 Technologists where we compete driving innovation

Leading products 95% TSIA rated One of the largest SaaS providers In leading markets Customer satisfaction Outstanding

Simple, fast, extensible 96% less 9x faster to 24x faster time for configure network infrastructure servers configurations configuration

Lower TCO and

maximized ROI 42% lower TCO 220% ROI and 6 Total savings over 3 years month payback with HP BladeSystem + HP From HP OneView to manage HP OneView + HP BladeSystem OneView vs. rack servers1 BladeSystem environments2

“Possibly the most significant systems management product HP OneView is awarded Frost & Sullivan’s 2013 announcement… seen in a long time” "New Product Innovation of the Year" – Richard Fichera, Forrester Research, Inc.

1. HP BladeSystem TCO calculator based on a scenario of 320 BladeSystem servers managed by HP OneView over 3 years vs. rack servers managed by traditional tools. 2. HP OneView ROI calculator based on a scenario of 320 BladeSystem servers managed by HP OneView over 3 years vs. traditional management tools. © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. Big Data Cloud Mobility Security HP is helping the world's leading supply chain standards organization implement a cloud-based system to recall contaminated food. Together, HP and GS1 help protect food, manufacturers' brands—and help save lives.

Mobility is at the same stage today as the internet was in 1998. Mobility is driving one of the biggest shifts in business and government since the dawn of the internet. A mobility strategy will empower your operations and financial performance, providing more agility to meet new customers’ needs.

More applications, More devices supported by WLANs 1 more connected devices 1

1 1 device per Trillion 3 devices per applications every 3 users user

More business opportunities

73% of global CIOs Mobile retail believe Mobility will purchases to exceed impact their $707bn 3 business more than by 2018. the Internet 2

1 2 3 Sources:© Copyright 2014 HP Hewlett Internal-Packard Research Development Company,- Accenture L.P. The information 2013 CIOcontained Mobility herein is Surveysubject to change - Juniper without notice Research. – Jan. 2014 Big Data Cloud Mobility Security Expertise Agility Comprehensive Mobility Solutions Best-in-Class Suite of Mobile customized for your business Products 700+ app developers Hardware “customized” with peripheral Mobile Enterprise Services & Solutions ecosystem Comprehensive assessments Flexible software platform Extensive Channel & Partner network Cloud and Infrastructure

Insights Security Tools to capture and change data Built into hardware, software and into insights infrastructure HAVEn platform 1,000,000 apps secured Open integration to other solutions Hardware based security Real-time app monitoring and analytics Software In-line analytics Compliant cloud Infrastructure

The bad guys are getting smarter HP’s security group helps customers think Cybercrime is on the rise, moving from 12th to 3rd place in risk like a bad guy 1 factors faced by businesses Employing experts, developing solutions and crowdsourcing answers to help companies thwart attacks 3 $15.9M Detect and quarantine 2 Over 5,000 experienced $104B Average cost per year on security professionals serving 3.1M viruses annually black market per year security compliance for global over 10,000 customers organizations (5000+ employees) More than 1 million managed or monitored security devices 50% Still, 65% of IT security % of employees using Protects 9 of the 10 largest banks, positions remain open 8 Security Operations personally-owned device guarding over $9 trillion in for 9 weeks or longer3 Centers around the world to access organization's transactions every day business-critical apps4 Sources: 1 Lloyd’s 2013 Risk index • 2 Ponemon Institute: Enterprise Security Benchmark Survey, November 2012 Source: 2013, Norton Report, Ponemon 2013 CyberCrime report, InfoSec – 2013 Impact of CyberCrime 3 McLean’s© Copyright Magazine, 2014 Hewlett August-Packard 19, 2013Development • 4 Ponemon Company, L.P.Institute: The information Dangerous contained Insider herein Study, is subject November to change without 2012 notice . Big Data Cloud Mobility Security

Disrupt the Manage Extend adversary risk your capabilities Security Technology Security Consulting Managed Security Services

HP ArcSight • HP TippingPoint • HP Fortify • HP Atalla • HP Security Research

Security intelligence Incident response Security operations

© Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. A huge IT infrastructure How HP leverages its own products and solutions 1,300+ 73PB 41K+ 2.5B servers enterprise security events HPN routers logged per day with of storage deployed on 3Par, XP HP ArcSight and EVA 240M hits Manage per day on HP.com 148K+ Millions Optimized partner mobile devices Prevented millions of of lines of code scanned by program with real-time denial of service attacks

sentiment with HP Fortify analysis 16K+ HP TippingPoint HPN switches

4PB 435,000 Analyze data from data replicated mailboxes managed per day 100s of millions of active devices

© Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP Living Progress Creating a better future for everyone through our actions and innovations.

More data, more power HP Moonshot System If the public cloud was a country, it would be the fifth largest in terms of annual electricity consumption.

1. China 2. USA 3. Russia Greater density 77% less costly 89% less energy

Lower 4. India 5. The public 6. Japan TCO cloud 80% less space 87% less complex Source: HP internal research - Based on weighted average performance projections for workloads such as web serving, memcached, and Data Analytics. Cost estimates include infrastructure, space, and power and cooling costs over three years. © Copyright 2014 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. Innovating far into the future Disruptive innovations fueling HP’s transformation

Breakthroughs in photonics Powerful, intuitive tools to Massive, universal memory transmit data via light, analyze, visualize and convert enables software-defined delivering quantum leaps in Big Data into actionable computing from the personal speed and power-efficiency. intelligence. to the zettascale.

Thank you!