VERITAS Software: Leading Data Storage Solutions Conference

1. Salomon Smith Barney Data Storage Infrastructure Conference Robin PurohitVice President, Product ManagementVERITAS Software

2. Safe Harbor Statement The matters we will be discussing today, other than the historical information, consist of forward-looking statements that involve risks and uncertainties. For example, statements regarding our anticipated financial results and our business in future periods are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially. These risks and uncertainties include the timely development and market acceptance of our products and our ability to manage our growth. For a discussion of these and additional risks and uncertainties, you should refer to our most recent report on Forms 10-K and 10-Q that have been filed with the SEC, particularly the section titled "Factors That May Affect Future Results." We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date hereof.

3. VERITAS Software • World’s Largest Storage Software Company • $1.5BN revenues • 36 countries • 54% five year CAGR • One of the top 10 softwarecompanies in the world

4. Leader in Storage Software • 2001 worldwide storage management software market leaders by vendor, excluding array-based software Legato 4.4% BMC 4.2% NetApp 3.3% H-P 2.2% Compaq 2.0% CA 6.2% PowerQuest 1.6% EMC 11.9% Others 16.5% IBM 17.7% VERITAS 30.0% All OS Systems, Including Suites, Based on New License Revenue Total New License Revenue = $3.3 Billion U.S. Gartner, March 2002.

5. VERITAS VERITAS VERITAS Market Leadership Backup / Recovery Leadership Virtualization Leadership VERITAS Gartner Magic Quadrant Leadership Clustering Leadership • SAN Management • Backup / Restore

6. Storage: The Reality Today Complexity • Multiple hardware vendors • Multiple database vendors • Multiple network vendors • Explosive Data Growth And therefore…. Lots of labor Adding more complexity • Storage and networks converging

7. The VERITAS Solution Providing Interoperability, Resiliency and Efficiency Applications Tape Libraries Servers Networking Switches Storage Solution Providers

8. VERITAS: Vision for the Future • Innovate, Sell and Deliver the Future of Storage • Adaptive Software Architecture • Convergence of networking and storage • VERITAS Powered program • Be a Strategic Supplier • Provide complete solutions • VERITAS Enabled Program • Deliver World-Class Financial Performance

9. CRM ERP Application Server Database High Availability Disaster Recovery VERITAS Adaptive Software Architecture Data Protection Storage Management Server Platforms Tape Libraries Storage Arrays Network Devices Adaptive Software Architecture • Heterogeneous solution reduces the cost of management • Manages application and storage availability • Consistent infrastructure management • Framework for further technology shifts Application Interoperability Storage Interoperability

10. Making IT SimpleAutomated Storage Provisioning eBusiness Apps Exchange Development Apps Provision 100 GB of High Reliability Storage Provision 200 GB of High Performance & High Reliability Storage Provision 500 GB Of Low Cost Storage Virtual Storage Pools with Different Characteristics High Reliability Low Cost High Performance & High Reliability • Reduced Time to Provision • Improved Storage Utilization

11. Next Paradigm in Clustering Server Provisioning to Increase Utilization With Provisioning Without Provisioning • Standby node per cluster • 4,500 active servers in 4 node (3 active/1 standby) clusters • 1,500 standby servers • Estimated hardware and HA software cost: $114 million • Shared pool of standby servers • 3000 active servers in 3 node clusters • 150 standby servers in unprovisioned pool • 90% reduction in HA overprovisioning • Estimated hardware and HA software cost: $89 million

12. CIO Bus. Unit CTO Data Center Mgr. • Is YTD storage chargeback exceeding budget? • My storage costs are going up. Is IT delivering to Service Levels? • Have all backups completed? If not, have we notified the impacted businesses? • How much storage growth are we seeing for Linux? • I want more control over provisioning. Why is capacity going up yet utilization is 40%? • How can I show the increasing number of problems that are resolved by DC staff? Enabling a Business View of IT Global Operations Management

13. Storage and Networks:The Next Technology Shift • Centralize intelligence in the network • Simplified, consolidated management • Established relationships with key networking partners V I R T U A L I Z A T I O N

14. VERITAS Powered Partners

15. PRODUCTS PLATFORMS SERVICES Becoming a Strategic Supplier • Broadest range of storage products • Covers all major operating systems • Helping customers architect storage solutions

16. Applications Applications Applications Applications Applications DBMS DBMS DBMS DBMS DBMS Cluster Management Cluster Management Cluster Management Cluster Management Cluster Management Data Replication Data Replication Data Replication Data Replication Data Replication Clustering Clustering Clustering Clustering Clustering Backup & Restore Backup & Restore Backup & Restore Backup & Restore Backup & Restore Volume Management Volume Management Volume Management Volume Management Volume Management File System File System File System File System File System SAN Management SAN Management SAN Management SAN Management SAN Management VERITAS Platform Support Linux HP-UX AIX NT4 / W2K Solaris Non VERITAS Complete Planned

17. VERITAS Enabled Program

18. Expanding Services • Services revenue growth--25% year over year • High support renewal rates • Expanded offerings include additional premium services • Strategic consulting • Custom support services • Growing relationships with premier systems integrators • IBM Global Services • EDS

19. Adaptable Sales Model • More complex solutions require a more direct customer touch • Sales mix is currently 60% direct/VAR • Increased focus on brand awareness • Reaching end users

20. Deliver Best-In-Class Financial Results • Business model adapts to market fluctuations • Recurring revenue from repeat customers and annual maintenance renewals • Maintaining solid profitability • Strong cash position and cash generation capabilities Revenue CAGR - 54% Billions

21. Maintaining MarginsWhile Investing For The Future • Continued investment during downturn • Rich new set of products introduced • Platform expansion (AIX, Linux) • Major product releases (SPC 3.5, NetBackup 4.5) • Geographic expansion • 37% of non-OEM revenue • Training and professional consulting • Increase brand awareness • Leveragable business model Revenue and Operating Margin Trends

22. Financial Strength • Strong balance sheet – September 2002 • Cash at $2.1 billion • Generating over $100 million in Q3 from operating activities • DSO at 30 days • guidance -mid to upper 40’s • Deferred Revenue at $257 million • Maintenance represents recurring revenue Cash Balance and Cash Flow Trends

23. 13.5% CAGR Well Positioned for the Future • The storage market is large and growing • VERITAS is a leader today • VERITAS has the right vision for the future • Innovate, Sell and Deliver the future of storage • Be a strategic supplier • Deliver best-in-class financial performance LT Market Growth Projections Gartner, 2002.