Tidemark Customer Presentation: PAMELA (PETERSON) MARTINEZ, DIRECTOR, FP&A @ HubSpot MATTHEW ANTONELL, SR. FINANCIAL ANALYST, FP&A @ HubSpot

marketing and sales SaaS platform Focused on the mid-market >15,000 An inbound marketing and sales SaaS platform Focused on the mid-market >15,000 customers Software company – 90% revs….all cloud/subscription. Build from the ground up to enable companies to transform the way they market and sell to match the way modern humans actually shop and learn today. Start with marketing which is our 1st line of business and will end on sales, a new exciting line of business. Midmarket – huge, green fields, not rip & replace Definitionally, HubSpot is an inbound marketing and sales Saas platform: 90% of our revenues are subscription based, and our company was born in the cloud. We’re growing rapidly, and are proud to have a massive install base of over 11,000 customers worldwide. While the marketing technology space may not be new to you, HubSpot’s vision, product, and target market are fundamentally different than many of the players in our space. Specifically today we’ll talk about why we are uniquely positioned to succeed in the mid-market, which we define as companies with 10-2000 employees. Cambridge, Dublin, Sydney, Singapore Trading on the NYSE as $HUBS > 800 employees

Continued Momentum Since IPO GROWTH DRIVERS: Domestic | International | Upsell Customer REVENUE CUSTOMERS ASRPC 5

Operating (Loss) / Income % Key Financial Metrics Key financial metrics 2011 2012 2013 2014 Q1’15 Gross Margin 61% 70% 65% 73% % of revenue R&D 27% 19% 18% 17% 15% S&M 82% 66% 67% 63% 57% G&A 21% 16% Operating (Loss) / Income % (69%) (31%) (39%) (28%) (16%) Gross Margin increased to 67% a 4 point improvement from 2013, while operating margin increased 5 points year over year. After heavy investments in 2013, we are starting to see leverage in the business. We expect to continue to see improvement as we drive towards our long term targets. We expect to reach qtly cash flow profitability in 2016 as we continue grow our install base through higher retention and strong sales. At the same time we will continue to look to our unit economics to weigh driving even higher profitability with driving higher growth. All percentages for historical and future periods exclude expenses associated with stock based compensation and amortization of acquired intangibles. 23

Finance @ HubSpot Accounting Order Management Payroll FP&A Investor Relations .

FP&A Responsibilities Financial Forecasting & Planning Financial Reporting of Actual Results 1 2 In addition to these items: Headcount reporting and tracking Calculation of employee commissions Ad hoc scenario planning and modeling Investor relations requests Regular presentations: HELM, Board, Management Meetings, Company Meetings Facilities Planning Business Partnership with Functional Leaders SaaS Metric Tracking and Reporting 3 4

FP&A @ HubSpot Corporate FP&A Functional FP&A Team of 3 employees: Managing consolidated forecasting, planning and reporting processes Managing Tidemark Supporting G&A Communication with Accounting and IR Total of 5 employees supporting and business planning for Sales, Marketing, R&D, Services and Support

HubSpot’s Tidemark Implementation Consolidating the Monthly P&L Reforecast Process Unstructured process, ~7-8 team members making inputs New Process Cycle each month w/ uploads from NetSuite & Workday Workforce Planning: Headcount, Salaries, Wages, Bonuses & Commissions forecasting Users have access to appropriate slices (dept / cost centers) for Workforce Planning Revenue Forecast: Subscription, Services & Other (forecast in excel, pasted into TM) Non-OTE Expense Forecast: Manual input for T&E, Prof Fees, Rent & Depreciation, etc. Rolls-up to a Functional (SEC) P&L and Account P&L Collaboration / Annotations to align team on certain key assumptions or remember when/where a change was made 1

HubSpot’s Tidemark Implementation Performing the Annual Planning Process (P&L) Similar unstructured process as reforecast ~6-quarter rolling forecast mid-month of every quarter. May & August roll out to the next full fiscal year as a “Business as Usual” case Kick-off formal Planning Process in Sept/Oct, with deeper inputs from functional leads (“Tuna Season”) Iterate each month through Jan, then plan finalized & locked in Tidemark as ‘2015 Plan’ Execute budget transfers throughout year using Top-Side functionality Comparison point for each month’s Reforecast & Actual Results 2

HubSpot’s Tidemark Implementation Documenting the Variance-to-Forecast and Variance-to-Plan Process Monthly ‘BVA’ Meeting with FP&A, Accounting, CFO Upload prelim Actual results from NetSuite, compare B/(W) to PFCST and PLAN Team inputs in-line variance explanations key in assisting with the prep for meeting Post-meeting: final close changes by Accounting, New Process Cycle is opened (NetSuite actuals loaded, Headcount actuals input, Workday upload completed) 3

Current ROI from Tidemark Consolidation (Off Excel!!) Version Control & Record Keeping 1 2 Key problem we’re solving/ ROI is on consolidation (off excel), record-keeping/version control, has forced us to get into real FP&A team cadence over past 1+ year What problems are you solving? Why did you choose Tidemark? How did you solve the problem before Tidemark? Monthly reforecast, monthly BVA, acceptable variances Truncated P&L definitions and roll-ups Helped to formalize FP&A processes 3

Workforce Planning

Headcount Summary

Enter Revenue and Cost of Revenue

Enter Non-OTE Expenses

Summary P&L

Functional P&L

Monthly BVA Variance Panel

Thoughts on the Future / How to Better Leverage Tidemark No one system of record for all financial / install base / key metrics related data @ HubSpot Would require a lot more cross functional buy-in & implementation to make Tidemark this system Hard to use playbooks, storylines, sharing functionality without uploading all these other data Problem statement

Thoughts on the Future / How to Better Leverage Tidemark Short-Term: Further automate forecasting process to more fully move off excel Local Currency Payroll Tax Calcs Automate Allocations Benefits by person calcs Subscription Revenue (Subscrip eCommerce) Leverage excel add-in to link/refresh Enhance existing panels with all the cuts, views, relative metrics required by our team and functional leaders Calculate basic SaaS metrics in Tidemark (customer counts, ASRPC, LTV:CAC) Need to upload a few additional metrics each month (ending customers, new customers, New ARPU and Retention/Churn) to get this output Longer-Term / Futures: Load install base /customer data (via SFDC) to calc other metrics & reporting Determine model to share with functional leaders direct from Tidemark to streamline the monthly/quarterly budget review process Long-term driver-based P&L forecasting Capex/Depreciation forecasting Load Cash Flow & Balance Sheet actuals…and eventually forecast them here

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