Box Investor Presentation — May 2021

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First Fiscal Quarter FY22

May 27, 2021Forward -looking statements & non -GAAP financial measures

This presentation contains forward -looking statements that involve risks, uncertainties, and assumptions, including statements r egarding Box’s expectations

regarding the size of its market opportunity, its leadership position in the cloud content management market, the demand for itsproducts, the impact of its

acquisitions on future Box product offerings, the benefits to its customers from completing acquisitions, the time needed to integrate acquired businesses into

Box, the impact of the COVID -19 pandemic on its business, its ability to grow and scale its business and drive operating efficie ncies, its ability to achieve

revenue targets and billings expectations, its ability to achieve profitability on a quarterly or ongoing basis, its free cas h flow, its ability to continue to grow

unrecognized revenue and remaining performance obligations, the timing of recent and planned product introductions, enhanceme ntsand integrations, the

short -and long -term success, market adoption and retention, capabilities, and benefits of such product introductions and enhanc ements, the success of

strategic partnerships, its revenue, billings, gross margin, GAAP and non -GAAP net income (loss) per share, non -GAAP operating m argins for future periods, the

related components of GAAP and non -GAAP net income (loss) per share, weighted -average outstanding share count expectations for B ox’s fiscal second

quarter and full fiscal year 2022, the KKR -led investment and achievement of its potential benefits, any potential repurchase of its common stock, whether,

when, in what amount and by what method (whether by tender offer or otherwise) any such repurchase would be consummated, and theshare price of any

There are a significant number of factors that could cause actual results to differ materially from statements made in this p resentation, including: (1) adverse