1. Matt Wilbanks Cloud Specialist THE NEW EDGE IN TECHNOLOGY GREAT CUSTOMER SERVICE August 9, 2011

2. Safe Harbor Statement This presentation contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Rackspace Hosting could 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 any statements concerning expected operational and financial results, long term investment strategies, growth plans, expected results from the integration of technologies and acquired businesses, the performance or market share relating to products and services; any statements of expectation or belief; and any statements or assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include infrastructure failures, the continuation or further deterioration of the current difficult economic conditions or further fluctuations, disruptions, instability or downturns in the economy, the effectiveness of managing company growth, technological and competitive factors, regulatory factors, and other risks that are described in Rackspace Hosting’s Form 10-K for the year ended December 31, 2010, filed with the SEC on February 22, 2011 and in Rackspace Hosting’s Form 10-Q for the quarter ended March 31, 2011, filed on May 10, 2011. Except as required by law, Rackspace Hosting assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Non-GAAP Financial Measures Please note that certain financial measures used in this presentation, such as adjusted EBITDA, are expressed on a non-GAAP basis. Adjusted EBITDA has been adjusted to exclude charges relating to stock-based compensation. Our GAAP results and GAAP to non-GAAP reconciliation can be found in this presentation, and have been posted on the Investors page of our website, which is found at www.rackspace.com. Trademarks and Service Marks Rackspace® and Fanatical Support® are our registered service marks. Other trademarks and tradenames appearing in this presentation are the property of their respective holders. We do not intend our use or display of other companies’ tradenames, trademarks, or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies. 2

3. NYSE: RAX 3 Founded: 1998 / IPO 2008 Headquarters: San Antonio, TX Offices: Austin, TX San Francisco, CA Blacksburg, VA London, UK Amsterdam, NL Hong Kong, China Data Centers: San Antonio, Dallas, Chicago, Virginia, London, Hong Kong 3,400+ Rackers 140,000+ Customers 70,000+ Servers Online 45% CAGR

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5. SIZING THE MARKET: HOW BIG? Forrester, “Sizing the cloud,” March 2011 $72B 5

6. 6 *Source: Jack of all Clouds blog: http://www.jackofallclouds.com/2011/01/state-of-the-cloud-january-201/ THE RISE OF THE ENTERPRISE CLOUD Today, less than 2% of the top 500,000 web sites are hosted on modern Cloud architectures*

7. “By 2012, 20% of businesses will own no IT assets.” - Gartner Key Predictions, Jan. 2010 THE RISE OF THE ENTERPRISE CLOUD “Midsize businesses that plan to adopt cloud computing by 2012 expect it to lower their costs by approximately 24%”. - Gartner Survey Analysis: North American Midsize Businesses Cite Cloud Intentions - Jan 2011 “Today, we’ve got 95% of applications running internally and 5% externally. In five years, that ratio will be 80 percent internal and 20% external.” -CIO, Fortune 500 financial company. SandHill Group, Leaders in the Cloud (March 2010). 7

8. WHY THE SWITCH? Cloud technologies make IT Hosting more attractive Accessibility Speed Cost PARADIGM SHIFT– Companies will consume IT over the web from service providers: radically less expensive; automated; non- core/strategic CLOUD COMPUTING – New set of technologies that make existing market opportunity larger and rapidly accelerate this paradigm shift 8

9. OUR STRATEGY IS SIMPLE The #1 Specialist in Hosting and Cloud computing Fanatical Support makes us the most trusted partner for business Open technologies at web scale Ensure value and reliability Service Enables CLOUD ADOPTION 9

10. i OUR OFFER A PORTFOLIO APPROACH Fanatical Support Hosting + Cloud Portfolio Choice of Service Levels Leading SLAs Fanatical Support Hosting + Cloud Portfolio Choice of Service Levels Leading SLAs 10

11. PROVEN BUSINESS MODEL DRIVES FINANCIAL PERFORMANCE 11

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13. Things go Wrong in Computing 13

14. Hold it Like This 14

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17. Airing Our Mistakes on YouTube 17

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19. I think I heard you say, “Duck You.” Press “1” if this is correct. 19

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21. “It’s supposed to be hard. If it wasn’t hard, everyone would do it.” 21

22. 22 Hiring: Talent and Culture Fit Really Matter Seamless: Great Technology + Human Performance Transparency: Open Management, Open Book Strengths-based Management Celebrating Fanatical Rackers Racker Engagement Customer Loyalty - Net Promoter Score

23. Talent Motivation Influence Workstyle Relationship Thought Process Hiring: Talent and Culture Fit Really Matter Motivation Influence Workstyle Relationship Thought Process 23

24. CULTURE IMMERSION ROOKIE O 24

25. Seamless: Great Technology + Human Performance 25

26. TRANSPARENCY OPEN BOOK 26

27. FIND WHAT’S RIGHT STRENGTHS-BASED MANAGEMENT 27

28. Celebrate The Fanatical Racker 28

29. KEEPING OUR FINGER ON THE 29

30. %Promoters Net Promoter Score (NPS) minus 0-6 7-8 9-10 Extremely likely Extremely unlikely %Detractors WOULD YOUR REFER A FRIEND? NET PROMOTER SCORE 30

31. Matt Wilbanks mw@rackspace.com Office: (210) 312-5464 www.rackspace.com @MWilbanks 31