Exhibit 99.2

Nimble Storage Inc. Q3FY17 Shareholder Letter

Executive Summary

Organizations rely on applications to accelerate core business processes and to drive digital transformation, and these applications in turn expect fast, uninterrupted access to data from the underlying infrastructure. Infrastructure constraints that create an app-data gap negatively impact business outcomes.

Our long-term vision is to eliminate this app-data gap with our Predictive Flash platform that leverages the Nimble OS and InfoSight Predictive Analytics as its two core building blocks. We believe that our Hybrid and All Flash arrays, powered by the Nimble OS, are unmatched in delivering performance cost-effectively by leveraging flash memory, scaling to PB-scale deployments, and providing rich, application-centric data management services. The second building block is InfoSight, which leverages cloud-based predictive analytics and machine learning to deliver unmatched operational simplicity, infrastructure availability and cross-stack and cross-customer visibility.

Our market opportunity derives from the disruption underway in data center infrastructure as customers look to radically simplify IT infrastructure and minimize costs. First, we believe that we can continue to gain share from legacy storage vendors whose complex storage solutions are no longer competitive. Second, we have an opportunity to leverage the shift towards converged infrastructure. Third, as customers increasingly leverage the public cloud, we have an opportunity to enhance our Predictive Flash platform to provide a multi-tenant SaaS offering. Consequently, we believe that we have the opportunity to emerge as a leading next generation infrastructure provider.

We executed well against this opportunity during Q3FY17 as our revenue growth accelerated from 21% in 1HFY17 to 26% in Q3FY17, driven by strong performance against our strategic priorities.

Strong AFA Momentum, with approximately $100M annualized bookings run-rate in the 2^nd full quarter after launch

During Q3FY17, we saw strong momentum for our All Flash arrays as our product value proposition resonated strongly with both customers and channel partners. Specifically, we saw strong win rates across numerous bakeoffs driven by three main drivers:

During Q3FY17, contribution to bookings from deals over $100K and deals over $250K were both at record levels. Bookings from deals over $100K grew 35% compared to Q3FY16, and bookings from deals over $250K grew 75% over Q3FY16. As a result, our average deal size was at record levels during Q3FY17. A key driver of this expansion in deal sizes is the fact that we are now frequently being deployed in Tier 1 workloads, displacing high-end legacy arrays and winning against high-end AFAs.

Bookings from Large Enterprises during Q3FY17 grew at 53% over Q3FY16 as we expand our base of Large Enterprise customers, and deploy larger deals within that base. Our Large Enterprise customer base at the end of Q3FY17 grew 28% over Q3FY16, and we continue to see a steady pattern of repeat deployments from that installed base.

Bookings from CSPs during Q3FY17 grew 65% compared to Q3FY16. As customers look to leverage the cloud, their adoption of SaaS providers and IaaS providers is translating into strong growth.

Momentum in Converged Infrastructure with Cisco, and now Lenovo

As customers look to alternatives to legacy storage vendors, they are looking for next generation vendors with superior technology, but with proven solutions and validated reference architectures that lower risk. Our SmartStack integrated infrastructure, built in partnership with Cisco and ISVs such as VMware, Microsoft, Citrix, Oracle and others, presents a compelling alternative to FlexPod and vBlock, and continues to experience rapid adoption.

Financial Performance

As a reminder, non-GAAP results presented in this letter exclude only the impact of stock-based compensation versus GAAP results. An explanation of non-GAAP measures and a reconciliation of non-GAAP to GAAP results are provided below.

Q3FY17 Financial Results Overview

During Q3FY17, we delivered overall financial results in line with our expectations. We achieved revenue of $102.0 million, above the mid-point of our guidance of $100.0 million to $103.0 million.

Our GAAP operating loss was $39.0 million for Q3FY17. Our non-GAAP operating loss was $15.4 million, in the range of our guidance for a non-GAAP operating loss of $14.0 million to $16.0 million.

Our GAAP EPS for Q3FY17 was a loss of $0.45 per share. Our non-GAAP EPS for Q3FY17 was a loss of $0.18 per share, at the midpoint of our guidance range for non-GAAP EPS loss of $0.17 to $0.19 per share.

Revenue

Total revenue for Q3FY17 was $102.0 million, an increase of 26% from Q3FY16 and 5% sequentially from Q2FY17. Revenue growth of 26% during the quarter increased from the 21% growth we achieved in Q1 and Q2 respectively. Excluding the impact of foreign currency fluctuations, revenue increased by 28% compared to a year ago quarter.

Product revenue for Q3FY17 was $81.3 million, representing 80% of total revenue. Product revenue increased 24% from Q3FY16 and grew sequentially by 5% from Q2FY17.   Q3FY17 support and service revenue, which includes our maintenance and InfoSight cloud-based predictive analytics service, was $20.7 million, representing 20% of total revenue, an increase of 37% from Q3FY16 and an increase of 6% from Q2FY17.

Our international revenue grew 34% from Q3FY16 and 40% excluding the impact of foreign currency fluctuations. Revenue from international contributed 23% of total revenue during Q3FY17, relatively flat from 22% in Q3FY16.

At the end of Q3FY17, our total deferred revenue was $133.7 million, an increase of $28.3 million or 27% from Q3FY16. Our deferred revenue consists primarily of payments received for support and service agreements including InfoSight, which have an average term of approximately three years.

Gross Margin

GAAP gross margin was 63.8% in Q3FY17 compared to 64.6% in Q2FY17 and 65.3% in Q3FY16.

Non-GAAP gross margin was 66.0% in Q3FY17, a decrease of 100 bps from Q2FY17 and a decrease of 90 bps from Q3FY16.

Support and Service Gross Margin

Our overall non-GAAP gross margin of 66% remains above our long-term target model range of 63% to 65%, and we expect to continue to operate slightly above the high end of this range in the near term.

Operating Expenses

GAAP operating expenses in Q3FY17 were $104.1 million, an increase of $2.0 million or 2% from Q2FY17.

Q3FY17 total non-GAAP operating expenses were $82.8 million, an increase of $2.3 million or 3% from Q2FY17. Non-GAAP operating expenses increased by 28% compared to Q3FY16 mainly due to sales and marketing spend increasing by 36% compared to Q3FY16.

Balance Sheet

We ended Q3FY17 with cash and cash equivalents of $180.7 million, a decrease of $13.5 million during the quarter. Cash Flow from Operations during Q3FY17 was negative $11.3 million compared to negative $4.1 million in Q2FY17 and negative $3.1 million in Q3FY16. Free Cash Flow during Q3FY17 was negative $18.0 million compared to negative $9.1 million in Q2FY17 and negative $12.2 million in Q3FY16.

In Q3FY17, we achieved a cash conversion cycle of 14 days, slightly above 11 days in Q2FY17 and 12 days in Q3FY16, but better than our target of 20 days.   We ended Q3FY17 with accounts receivables of $59.3 million, an increase of $10.1 million from Q2FY17. Days sales outstanding were 46 days (calculated on billings), an increase of 4 days from Q2FY17 and flat to Q3FY16 due to linearity of billings during the quarter.   We ended Q3FY17 with inventory of $20.4 million, an increase of $2.3 million from Q2FY17 mainly due to service inventory increasing by $1.8 million to support our new platforms and growing base of customers. Days sales in inventory were 51 days, an increase of 3 days from Q2FY17.   We expect to end FY17 with a cash balance fairly similar to our balance at the end of Q3FY17.

Q4FY17 Financial Outlook

Our guidance for Q4FY17 is as follows:

We thank our partners and customers once again for embracing us, our investors for their confidence in us, and our employees for their dedication and continued execution.

Suresh Vasudevan, CEO				Anup Singh, CFO

Conference Call Information

As previously announced, Nimble Storage will host a live question and answer conference call and webcast today at 5:00 p.m. ET (2:00 p.m. PT) to discuss its financial results for the third quarter of fiscal year 2017.

Interested parties may access the call by dialing 877-719-9801 in the U.S. or 719-325-4762 from international locations. In addition, a live audio webcast of the conference call will be available on the Nimble Storage Investor Relations website at http://investors.nimblestorage.com. The live webcast will be archived and available on this site for 45 days. A replay of the conference call will be available for 45 days. Access the replay here.

Non-GAAP Financial Measures

To provide investors with additional information regarding our financial results, Nimble Storage has disclosed in this release and the accompanying tables non-GAAP financial measures that are not calculated in accordance with generally accepted accounting principles in the United States, or GAAP. The company provides non-GAAP gross margin, non-GAAP operating loss, non-GAAP net loss, and non-GAAP net loss per share. In computing these non-GAAP financial measures, the company excludes the effects of stock-based compensation, which is a recurring non-cash expense for the company. The company has provided reconciliation below of non-GAAP financial measures to the most directly comparable GAAP financial measures. A reconciliation of the Q4FY17 forward outlook for non-GAAP operating loss and non-GAAP net loss per basic and diluted share is not available without unreasonable efforts as the quantification of stock-based compensation expense requires additional inputs such as number of shares granted and market price, that are not ascertainable.

The company discloses these non-GAAP financial measures because they are key measures used by the company’s management and board of directors to understand and evaluate operating performance and trends, to prepare and approve the annual budget and to develop short-term and long-term operational and compensation plans. In particular, the exclusion of certain expenses in calculating non-GAAP financial measures can provide a useful measure for period-to-period comparisons of the company’s business. Accordingly, the company believes that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating the company’s operating results in the same manner as the company’s management and board of directors.

Non-GAAP financial measures have limitations as analytical tools and, as such, should not be considered in isolation or as substitutes for analysis of the company’s results as reported under GAAP. Some of these limitations are:

Nimble Storage, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands, except percentages and per share amounts)

(Unaudited)

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. We intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including our current beliefs and expectations concerning our future financial results, market share and sales levels, business plans, strategy and objectives, competitive position, product performance and industry trends and environment.

Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors including, but not limited to, those related to our future financial performance, which is inherently uncertain, unforeseen delays in product development or introduction, unknown errors or defects in our products, uncertainty around market acceptance of our solutions, including recently introduced products, our ability to increase sales of our solutions, our ability to increase average deal sizes and the contribution of large deals to our overall sales, our ability to attract and retain customers and to sell additional solutions to our existing customers and continue to add new customers, our ability to develop new solutions and bring them to market in a timely manner, our ability to work effectively with ecosystem partners to drive increased sales, pricing pressure (as a result of competition or otherwise), introduction of new technologies and products by other companies, changes in technologies, which could render our solutions less competitive, changes in the storage industry, our ability to maintain, protect and enhance our brand and intellectual property, the effectiveness of our channel partners and sales team, our ability to convert leads into sales, our ability to recruit new or keep our existing key talent, global economic conditions and market uncertainty in light of current political developments in the U.S. and elsewhere, fluctuations in foreign currency rates and our ability to continue to expand our business and manage our growth. Moreover, we operate in very competitive and rapidly changing environments, and new risks may emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and other factors that could affect our financial results are included in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission and may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements.

You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither the company, nor any other person, assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to publicly update any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations, except as required by law.

Any unreleased services, features or functions whether referenced in this document, Nimble Storage’s website or other press releases or public statements that are not currently available are subject to change at Nimble Storage’s discretion and may not be delivered as planned or at all. Customers who purchase Nimble Storage’s products and services should make their purchase decisions based upon services, features and functions that are currently available.

“Customer” or “Customers” referenced above are Nimble Storage’s end-customers. It is Nimble Storage’s practice to identify an end-customer from our channel partners prior to shipment and before any support and services are provided. Products are typically shipped directly to the end-customers of our channel partners. Assuming all other revenue recognition criteria have been met, Nimble Storage generally recognizes product revenue on sales upon shipment, as title and risk of loss are transferred at that time. Nimble Storage recognizes revenue from support and service contracts over the contractual service period.

Nimble Storage, the Nimble Storage logo, CASL, InfoSight, SmartStack, Timeless Storage, Data Velocity Delivered, Unified Flash Fabric and NimbleConnect are trademarks or registered trademarks of Nimble Storage, Inc. Other trade names or words used in this document are the properties of their respective owners.

Press Contact:

Kristalle Cooks

408-514-3313

Kristalle@nimblestorage.com

Investor Relations Contact:

Elaine Gaudioso

408-514-3475

IR@nimblestorage.com