Huddly AS — Investor Presentation 2021

Aug 17, 2021

Huddly Q2 2021

• Revenue at 64.0 MNOK, down 24 % compared to Q2 2020

• EBIT at 7.8 MNOK, compared to 25.9 MNOK in Q2 2020 • Adjusted EBIT at 5.3 MNOK, compared to 26.2 MNOK

• in Q2 2020 (excluding option expenses)
• • Executing on Channels go-to-market strategy
• • Smart video for large rooms with Huddly L1

• Q2 2021 total revenue was down 24% compared to Q2

• 2020
• • Companies worldwide have experienced supply chain disturbances during 2021 • Huddly has not had an adverse direct impact from this. There has been an indirect adverse impact from strategic and channel partners

• Huddly's Channel revenue grew 61% in Q2 2021 compared to Q2 2020 • Nils Stangnes has been appointed as Huddly's Executive Vice President of Global Channel Sales, based in Oslo, Norway • Huddly continued to increase our investments in our Channels go-to-market strategy in both EMEA and the Americas

Channels Go-To-Market USA

Eric Kyler VP Sales, Americas West

Michael McAdams Sales Director, Americas West

Charlie McCarrel Pre-Sales Engineer Director

Kayla Payne Channel Marketing Executive

Jenna Hassen Administrative Assistant

Charles Dancoe Senior Support Manager

Todd Shires Director of Channel and Distribution

Connor Harvey Reseller Program Manager

Greg Carswell VP Sales, Americas East

Michael Reilly Sales Director, Americas East

Patrick Donnelly Regional Sales

Gabe Michaelson Regional Sales Manager, Southeast

Abin Thomas Pre- Sales Engineer

• Crestron and Google continue to be strong partners • Huddly sees strong signs of improvements in the enterprise office market and believes sales and beyond

opportunities into this market will increase in H2 2021

Huddly's L1 camera has been very well received by our Strategic Partners, Distributors, Resellers and end user Customers

Covid-19 has affected VC segmentation and increasing the relative sizing and importance for large cameras. SW defined cameras will be the preferred alternative versus the traditional PTZ cameras

Huddly Canvas continues to be well received by the market

Financials

• EBIT at 7.8 MNOK, compared to 25.9 MNOK in Q2

• • Revenue at 64.0 MNOK, down 24 % compared to Q2 2020
• 2020
• in Q2 2020 (excluding option expenses / IFRS 2)
• • Balance sheet
• • Outlook 2021

• Adjusted EBIT at 5.3 MNOK, compared to 26.2 MNOK

Financials – Revenue and Gross margin

• Revenue down 24% YoY in Q2 2021 • Q2 2021 revenue: 56% strategic partners and 44% channel partners • Q1 2021 gross margin percentage: 54%

Financials – Adjusted P&L cost and Adjusted EBIT

• P&L cost base increasing in line with scaling of organization, especially within R&D and products • Costs and EBIT adjusted* for -2.5 MNOK in IFRS 2 option expenses in Q2 2021. 270.7 MNOK H1 2021 and 3.5 MNOK in full year 2020

* See Huddly Q2 2021 Report, Note 4 for further details

Financials – Balance sheet

• Capitalized R&D the majority of intangible assets • Working capital, investing in supply chain • Equity ratio of 85%

Financials – Outlook 2021

• • Revenue of 400 MNOK to 450 MNOK in FY 2021
• • COVID-19 impact and risk • Mitigating supply chain disturbances
• • Gross margin percentage around 50% in FY 2021 • Accelerated investments in products, go-to-market and support functions to accommodate for long term growth
• • Product roadmap and Go-to-market strategy supporting growth opportunity in H2 2021 and beyond

R&D and products

$L1$ shipping

Smart video for large rooms

Huddly L1 is a collaboration camera that delivers smart, highquality video experiences to large and medium meeting rooms

L1's neural engine has been trained and optimized to detect people in large spaces

Framing is performed accurately, smoothly and responsively - and without distracting moving parts

What L1 sees

What you see

Instant framing. No moving parts.

L1 is able to retain an overview of the entire room, even while zoomed in

This allows it to capture advanced room analytics including:

• People count
• Room usage over time
• Room occupation

What L1 sees

Sees the room, all of the time

L1's hardware has been designed to ensure great video experiences in large spaces. Features include:

• A high-res, 1-inch image sensor
• A custom lens without any optical zoom motors

Everyone seen and included

Power over Ethernet (PoE)

With a single Ethernet cable, installation is reliable, and flexible in regards to cable length

USB to PoE Adapter

USB to PoE Adapter

• First of its kind, transferring power and video data via Ethernet to camera
• Connects L1 to the meeting room computer via a USB C or USB A port

With a single Ethernet cable, installation is reliable, and flexible in regards to cable length

The Wall & Shelf Mount allows the camera to be placed on a shelf, on the wall, or on top of a screen

Designed for large rooms

Wall Shelf TV

With VESA screen adapter

This document (the "Presentation") has been produced by Huddly AS (the "Company", "Huddly"), to provide information to authorized recipients of this document ("Recipient"). An authorized recipient is a person to whom Huddly has directly provided a copy of this document or to whom Huddly has made available via a third party authorized by Huddly. The Recipient acknowledges and agrees that all intellectual property rights in the Report vests in the Company. The Recipient may only use this Presentation for the sole and exclusive purpose of considering potential investment in the Company. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including but not limited to projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein. This Presentation is current as at 30 June 2021, however, relates to Q2 2021. There may have been changes in matters which affect the Company subsequent to the date of this Presentation. Neither the issue nor delivery of this Presentation shall under any circumstance create any implication that the information contained herein is correct as of any time subsequent to the date hereof or that the affairs of the Company have not since changed. This Presentation is subject to Norwegian law, and any dispute or claim arising in respect of this Presentation is subject to the exclusive jurisdiction of Norwegian courts.

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