Airgain, Inc. · NASDAQ:AIRG

Airgain — Merger or Acquisition (January 2021)

15 slides from Airgain's merger presentation, Jan 7, 2021

  1. Slide 1: Airgain Acquires NimbeLink

    Airgain Acquires NimbeLink | January 7, 2021 NASDAQ:AIRG © Copyright 2021 Airgain, Inc. All Rights Reserved.

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains forward-looking personnel; the acquisition may negatively suppliers for some components of our products However, non-GAAP financial measures should statements. All statements that are not a affect our operating results, financial condition and channel partners t

  3. Slide 3: New Addition to the Airgain Executive Team

    New Addition to the Airgain Executive Team Scott Schwalbe, Co-Founder & CEO • 20+ years of leadership experience and IoT thought leader • Previously VP Operations at Logic PD, where he led the electronics manufacturing services (EMS) division NASDAQ:AIRG © Copyright 2021 Airgain, Inc. All Rights Res

  4. Slide 4: NimbeLink Overview

    NimbeLink Overview Edge-based Cellular Connectivity Solutions for Industrial Internet of Things (IoT) Industrial IoT Key Customers • Founded 2013 Cellular Embedded Modems • HQ: Plymouth, MN Enabling OEMs to reduce cellular development time • 24 Employees Carriers Asset Tracking Systems • 3 Patents I

  5. Slide 5: Industrial IoT Applications

    Industrial IoT Applications NASDAQ:AIRG © Copyright 2021 Airgain, Inc. All Rights Reserved. 5

  6. Slide 6: Strategic Rationale

    Strategic Rationale 1 Accelerates Airgain’s Enterprise Market Growth 2 Extends AirgainConnect® Platform Breadth and Opportunity 3 Extends NimbeLink Salesforce Reach Internationally 4 Allows NimbeLink to Address Larger Design Win Opportunities Opportunities to Improve NimbeLink Product Performance th

  7. Slide 7: Accelerates Airgain's Enterprise Market Growth

    1. Accelerates Airgain’s Enterprise Market Growth $15.5 Billion TAM by 2023* $3.5B (Industrial IoT and Asset Tracking) Growth Market Growth Market Foundational Revenue Base $4.4B $6.8B $780M Enterprise Automotive Consumer (Enterprise Wi-Fi, Fixed Wireless Access, (Fleet, Aftermarket & OEM, (Connecte

  8. Slide 8: Extends AirgainConnect Platform Breadth and Opportunity

    2. Extends AirgainConnect® Platform Breadth and Opportunity Targeting First Responder, Public Safety, and Aftermarket Fleet Vehicles Globally + Modem Integration Design Expertise + Cloud Management Software Expertise + Operator Certification Expertise 1st Product AC-HPUE 6-in-1 1) Enables Critical F

  9. Slide 9: Extends NimbeLink Salesforce Reach Internationally

    3. Extends NimbeLink Salesforce Reach Internationally NASDAQ:AIRG © Copyright 2021 Airgain, Inc. All Rights Reserved. 9

  10. Slide 10: Allows NimbeLink to Address Larger Design Win Opportunities

    4. Allows NimbeLink to Address Larger Design Win Opportunities Channels Brand Scale Airgain’s sales channels… Airgain’s brand equity… Airgain’s resources… Expose NimbeLink’s Moves NimbeLink to a Tier Enables NimbeLink to products and services to 1 provider to more potentially attract and a broader m

  11. Slide 11: Opportunities to Improve NimbeLink Product Performance through Airgain Antennas

    5. Opportunities to Improve NimbeLink Product Performance through Airgain Antenna System Enhancements Skywire® IoT Cellular Embedded Modems • Enhances customer experience by substituting Skywire® IoT Cellular Comprehensive Antenna existing turnkey antennas with Airgain’s high Embedded Modems Product

  12. Slide 12: Increases Revenue Scale and Diversification

    6. Increases Revenue Scale and Diversification $61.0M Revenue Combined Estimated FYE 2020* $’s Millions FYE 2020 Revenue $12.5 • $48.5M Airgain 2020 Revenue Estimate* PLUS Gross Margin % 32.9% • $12.5M NimbeLink 2020 Revenue Estimate • Both Airgain and NimbeLink expect revenue growth in 2021 Operati

  13. Slide 13: Transaction Overview

    Transaction Overview Base Purchase Price $15 million all-cash to acquire 100% of NimbeLink shares Performance-based Up to $8 million cash based on CY 2021 revenue target; 1st payment not earned Earnout until at least $13 million in revenue Base Purchase Price Revenue Multiple 1.2x (based on CY2020 E

  14. Slide 14: Summary

    Summary • Accelerates Airgain’s Enterprise Market Growth • Extends AirgainConnect® Platform Breadth and Opportunity • Extends NimbeLink’s Salesforce Reach Internationally • Allows NimbeLink to Address Larger Design Win Opportunities • Opportunities to Improve NimbeLink Product Performance through Ai

  15. Slide 15: Contact

    Contact Matt Glover Investor Relations Contact AIRG@gatewayir.com Gateway Group, Inc. 4685 MacArthur Court Suite 400 Newport Beach, CA 92660 NASDAQ:AIRG © Copyright 2021 Airgain, Inc. All Rights Reserved. 15

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