Nutanix is a global leader in cloud software and a pioneer in hyperconverged infrastructure solutions, making computing invisible anywhere. Organizations around the world use Nutanix software to leverage a single platform to manage any app at any location for their private, hybrid and multicloud environments. BOARD OF DIRECTORS NUTANIX CORPORATE HEADQUARTERS Dheeraj Pandey 1740 Technology Drive, Suite 150 Chief Executive Officer and Chairman, Nutanix, Inc. San Jose, CA 95110 (408) 216-8360 Sohaib Abbasi (408) 890-4833 Former Chairman, Chief Executive Officer and President, www.nutanix.com Informatica Corporation INVESTOR RELATIONS Susan L. Bostrom Tonya Chin Former Executive Vice President, Chief Marketing Officer, SVP, Corporate Marketing, IR and Chief Communications Officer Worldwide Government Affairs, Cisco Systems, Inc. (408) 560-2675 Email: [email protected] Craig Conway Former Chief Executive Officer, PeopleSoft, Inc. You may also reach us by visiting the investor relations portion of our website at: ir.nutanix.com Virginia Gambale Managing Partner, Azimuth Partners LLC Our Class A common stock trades on The Nasdaq Global Select Market under the ticker symbol NTNX. Steven J. Gomo Former Chief Financial Officer, NetApp, Inc. REGISTRAR AND TRANSFER AGENT For questions regarding stockholder accounts or changes Max de Groen of address, please contact our transfer agent: Managing Director, Bain Capital Private Equity Computershare Trust Company, N.A. David Humphrey 462 South 4th Street, Suite 1600 Managing Director, Bain Capital Private Equity Louisville, KY 40202 T (U.S. and Canada): (877) 373-6374 Ravi Mhatre T (Outside U.S. and Canada): (781) 575-3100 Managing Director, Lightspeed Ventures www.computershare.com Jeffrey T. Parks General Partner, Riverwood Capital Brian Stevens Former Chief Technology Officer, Google Cloud NUTANIX EXECUTIVE OFFICERS Dheeraj Pandey Chief Executive Officer and Chairman Duston Williams Chief Financial Officer David Sangster Chief Operating Officer Tyler Wall Chief Legal Officer Tarkan Maner Chief Commercial Officer © 2020 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix logo, and all Nutanix product and service names mentioned herein are registered trademarks or trademarks of Nutanix, Inc. in the United States and other countries. All other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s). DEAR STOCKHOLDERS, Fiscal 2020 has been a year of successful business growth and transformation despite a back- drop of global change and uncertainty. Yet it is this very uncertainty that has underscored the importance of our business model transition and the clear differentiation of our product strategy. The existing market opportunity for our leading hyperconverged infrastructure is vast, and our strategy is to further enhance our total addressable market (TAM) as we increasingly participate in the new HCI, or hybrid cloud infrastructure. As I reflect on fiscal 2020, we have seen three distinct themes of our transformation. First, the global pandemic affirmed the trend that the lift-and-shift of applications and data to the cloud — both private (on premises) and public — will be an important driver of our future growth, fueled by customer renewals and upsell over time. Second, our subscription transition at scale is helping us grow meaningfully, as evidenced by our run-rate ACV (Annual Contract Value), which grew 29% year-over-year to $1.2 billion ending fiscal 2020. A critical factor of this transition is an extremely loyal customer base, making our industry-leading Net Promoter Score (NPS) a key enabler for renewals. And finally, with the combination of concerted operating expense discipline and the recent investment from Bain Capital Private Equity, we are confident about our ability to innovate and scale our business for the long term. Our Subscription Business Model Transition: Ahead of Schedule When we set out on the journey toward a subscription model at the beginning of fiscal 2019, we believed in its ability not only to help future-proof our business, but also to provide the flexibility our customers need in a hybrid and multicloud world. With strong execution on this transition this fiscal year, we are now ahead of schedule in the transition process, with 88% of our billings coming from subscription in our last quarter, up from 71% one year ago, and well ahead of our target of at least 75% by the end of the fiscal year. Having gone through the “pain” of shorter contract durations and its related impact on billings, we will start to see the “gain” of the transi- tion over the next couple of years. This gain happens as customers reap the benefits of portable, pay-as-you-go subscription licensing across clouds, while we benefit from the renewals and predictable business that come with this model. Evolving our Products as the Market Matures: Hybrid Cloud Infrastructure is the New HCI The cloud is not a destination — it is a means to an end. Hyperconverging clouds will define our market over the next decade. Our product strategy reflects this trend and we have seen significant momentum during the fiscal year. The recent availability of Nutanix Clusters on AWS and our partnership announcement with Microsoft Azure were critical milestones toward realizing our vision of making computing invisible anywhere by delivering a singular experience across multiple clouds, public or private. This vision is also made possible with our investments in products beyond the digital HCI core (datacenter, DevOps, and desktop services), which continue to demonstrate strong momentum and growth. Our Era (database), Files (storage) and Frame (Desktop-as-a-Service) solutions saw record momentum during the fiscal year. In fact, 33% of our deals in Q4 involved at least one product beyond the core, up from 26% a year ago, and these products accounted for 15% of new ACV, up from 12% a year ago. Changing How We Measure Growth and Incentivize Sellers: Moving to ACV Our successful shift to subscription requires a new way to measure our growth. As we transitio- ned to a software business and then to a subscription business model, total billings and revenue growth became less significant as we reduced term durations, which has the effect of decreasing the amount of billings and revenue we book upfront. Moving forward, annual contract value (ACV) billings will be one of the more appropriate metrics with which to evaluate our growth, as it is normalized for shorter contract durations. To ensure our sellers are incentivized to maxi- mize ACV, minimize discounting, and accelerate go-to-market performance, we recently changed our compensation programs so that they are directly aligned with these goals. From an increasing focus in our quarterly reporting, to incentivizing our sales teams, ACV growth is critical to our success in the future. Customer Delight Remains Our Top Priority: A Key Differentiator for Brand and Renewals Our core platform continues to gain positive, third-party recognition, with Forrester once again announcing Nutanix as a leader in its Hyperconverged Infrastructure Wave, notably ahead of other players in the leaders segment. In addition, Gartner recognized us as a leader for the third year in a row in the Gartner Magic Quadrant for hyperconverged infrastructure, and Nutanix received the highest score for the ability to execute. These accomplishments highlight our true north star, which is customer delight. Our NPS, which measures customer satisfaction and loyalty, continues at an average of 90 over six years. We also received another Summit Award in recognition of winning the Omega Northface Scoreboard award for five consecutive years, further highlighting our perennial leadership in customer service and support. Executing on our Vision: Bolstering our Balance Sheet We announced a key milestone with the $750 million investment by Bain Capital Private Equity to further fuel our growth initiatives, including providing liquidity through our transition to a subscription-based business model. This investment gives us the capital we need to invest in key strategic areas, including further development of our hybrid cloud infrastructure (HCI) solutions. The Bain investment is a clear validation of our subscription business model and of the underlying health of our business. With their expertise and capital, Bain will be an invaluable partner to help unlock additional value for Nutanix shareholders. A New Era Begins at Nutanix: Becoming Invisible Just as we have always worked hard to make computing invisible anywhere, after 11 years since co- founding Nutanix, it is now time for me to become invisible. I’m proud to have led the team from $0 to $1.5B+ in annual billings in 10 years, and I am very confident that we will continue to build on this success with a new leader. With an enviable customer loyalty scorecard, a delightful plat- form that will make hybrid clouds elegant, and a strong balance sheet to fund our transition and navigate this upcoming economic recovery, Nutanix is the company to watch for the next decade. As a stakeholder, I am, and forever will be, a Nutant! Dheeraj Pandey Co-Founder, Chairman and CEO 1740 Technology Drive, Suite 150 San Jose, California 95110 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS To Be Held On December 11, 2020 at 9:00 a.m., Pacific Time To the Stockholders of Nutanix, Inc.: On behalf of our board of directors, it is our pleasure to invite you to attend the 2020 annual meeting of stockholders (including any adjournment or postponement thereof, the ‘‘Annual Meeting’’) of Nutanix, Inc., a Delaware corporation. The Annual Meeting will be held virtually, via live webcast at www.virtualshareholdermeeting.com/NTNX2020, originating from San Jose, California, on Friday, December 11, 2020 at 9:00 a.m., Pacific Time, and, for the following purposes, as more fully described in the accompanying proxy statement: 1. To elect three Class I directors, Susan L. Bostrom, Steven J. Gomo, and Max de Groen, to serve until the annual meeting of stockholders to take place after the end of the fiscal year ending July 31, 2023.