Netgear, Inc. · NASDAQ:NTGR
Netgear — Investor Day (November 2025)
122 slides from Netgear's investor day presentation, Nov 17, 2025
Slide 1: NETGEAR Investor Day Nov 17 2025
NETGEAR Powering Extraordinary Experiences Investor Day © rs —_ “S ” ) ae 4 a NOV 17 2025 : A “sy
Slide 2: Welcome to NETGEAR Investor Day
Welcome to AR Investor De <a a
Slide 3: Agenda
Agenda 01 02 03 04 05 06 Transformation Enterprise Consumer Financials Q&A Demos
Slide 4: Safe Harbor Disclosure
Safe Harbor Disclosure This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding NETGEAR's strategy, transformation plans, business outlook, financial targets, market opportunities,
Slide 5: Chief Executive Officer and Director
( Chief Executive Officer and Director ) Charles “CJ” Prober
Slide 6: Macro-Tailwinds and Strong Foundation
Macro-Tailwinds 4 Transition to IP-based AV a MSP and SMEs underserved in securi and networking 4 Growing complexity and importance of in-home connectivity 4 Increased scrutiny on China Enterprise Opportunity * High-potential B2B business ready to break out from its consumer legacy Strong Foundation
Slide 7: Our Focus: Long-Term Value Creation
Slide 8: Transformation Approach
Transformation Approach a ( Phase1 ) Ke oF Establish the foundation 2024-2025 ( _ Phase2 ) Strengthen the core business 2026 - 2028 SE ( Phase3 } Accelerate growth 2028 and beyond
Slide 9: Phase 1 Transformation Progress
Phase 1 Transformation Progress * New Purpose and Mission Strategic * Long-Term Targets * New Capital Allocation Strategy 45 A * New Team and Structure Organizational + Software In-Sourcing * Redefined Values " * Strengthened Execution Operational + Addressed Inventory + Launched Al Transformation
Slide 10: Transformation: Strategic
¥ Treinstecenation: Strategic
Slide 11: Our Purpose: To Power Extraordinary Experiences
To Power Extraordinary — Experiences _ NETGEAR’ ws
Slide 12: Our Mission: Unleash the Full Potential of Connectivity
&» ef Cy To Unleash the Full Potential of Connectivity with Intelligent Solutions that Delight dnd Protect ETGEAR:
Slide 13: Past vs. Future
Past Participate in narrow segments of the market Hardware-centric, limited software differentiation <5% of revenue from recurring subscriptions Gross Margin challenges Consumer: 20-30% Enterprise: 30-45% Low Margin Hardware Compete in large and growing segments of the consumer and enterprise market
Slide 14: Conviction in our Subscription & Services Opportunity
Conviction in our Subscription & Services Opportunity Enterprise Consumer - Nascent today * ~$35M ARR today * Significantly lag competition * Growing double digits * Customers value services * Top of funnel challenges - New services launching now * Subscription fundamentals * AV adjacencies too * Ex
Slide 15: Transformation: Organizational
Transformation: Organizational
Slide 16: Business Unit Structure
Business Unit Structure Enterprise Consumer * Sales * Sales * Marketing * Marketing * Product * Product + Engineering * Engineering + Support * Support Corporate Marketing : Shared Technology - Operations - GSA
Slide 17: Assembled the Right Leadership Team to Power Change
Assembled the Right Leadership Team to Power Change Fresh perspectives since 2024 ' rn fe) A ry & i ¥ Charles “CJ” Prober Pramod Badjate Eric Law Jonathan Oakes KristinMarkworth AntonioLépez Reus Kirsten Daru CEOS DIRECTOR PRESIDENT GENERAL MANAGER ‘VP, WORLDWIDE SENIOR VP, GENERAL ve, VP, STRATEGY
Slide 18: Redefined our Values
Redefined our Values to Reflect the NETGEAR’ 2 Communicate Courageously WJ) Connect and Delight
Slide 19: Strengthened Board and Advisors
Strengthened Board and Advisors to Guide Transformation Board of Directors Charles “CJ” Prober Janice Roberts CEO AND DIRECTOR CHAIRPERSON FORMER CPO, FANDUEL, GROUPON FORMER CFO & OPS EXECUTIVE CPO, XERO Shravan Goli Laura Durr Brad Maiorino Laura Orvidas Jochen Koedijk (JK) Michael Marcellin ‘CEO,
Slide 20: Software Transformation
Software Transformation Shift from external to internal development: Transitioning from reliance on partners to in-house software expertise Strategic capability build: Developing our own OS and applications through organic hiring and targeted M&A Stronger, more efficient delivery: Expanded internal
Slide 21: Transformation: Operational
° TranstoraicoOt- am Operational
Slide 22: Strengthening Execution & Predictability
Strengthening Execution & Predictability Exceeded High-End Guidance: Revenue Operating Margin Empowerment Q2'24 4 f Accountability Q3’24 3 f Performance Management Q4'24 4 v4 Team Enablement Ql1’25 v4 A Sales & Operations Process Q2’25 v4 v4 "4 7 Forecasting & Planning Q3'25
Slide 23: AI is Transforming How We Work
| is Transforming How We Work com Prag nano bors See, ti Sas Operational Efficiency _ at eee
Slide 24: Phase Impact: Financials
Phase 1 Impact: Financials Improved revenue, gross margins, profitability and cash position Q3 2023. §=Q3 2025 YTD Revenue Growth (YoY) -19% 5% YTD Non-GAAP Gross Margin 33.5% 37.5% YTD Non-GAAP EPS $(0.12) $0.19 Ending Cash $228M $326M* *Net of $69M of share repurchases
Slide 25: Phase Impact: Inventory Reduction
Phase 1 Impact: Inventory Reduction Unlock cash and improve gross margins ye* Operational philosophies — Match sell in and sell through Chase Supply vs. Chase Demand Q3‘23 Q3‘25 Q3‘23 Q3 ‘25
Slide 26: Phase Impact: Capital Allocation
Phase 1 Impact: Capital Allocation 2024 - 2025 Organic Investments * Q12025 restructuring to fund Enterprise growth * VAAG (Software insourcing) M&A * Exium (Security) * Acquire ProAV Software stack Returning Capital - $69M Shares repurchased @ $19.99 to Shareholders per share
Slide 27: Transformation Approach: Phase 2
Transformation Approach ve a | Phase2 } \ 2) Strengthen the core business 2026 - 2028
Slide 28: Phase 2: Strategic Priorities
Phase 2: Strategic Priorities Enterprise Consumer * Maximize growth potential of AV * Solve connectivity for the smart home * Significantly grow share in EAs Enterprise Networking and Security 0 eps seamless connectivity on-the-go ¢ Differentiated via Software Experiences :* Expand Subscription and
Slide 29: Enterprise Opportunity
Slide 30: President and General Manager, NETGEAR Enterprise
President and General Manager, NETGEAR ENTERPRISE Pramod / Badjate
Slide 31: Powering Extraordinary Experiences
Powering extraordinary experiences
Slide 32: NETGEAR AV
RS NETGEAR AV
Slide 33: NETGEAR AV
NETGEAR AV.
Slide 34: Digital Signage & Video Wall
Slide 35: Broadcast
Slide 36: ‘0 £ :
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Slide 37: What Are the Market Drivers?
NETGEAR What Are the Market Drivers?
Slide 38: Current Market Size
Current Market Size Global ProAV AV Signal Routing & Switching
Slide 39: Market Growth 2030 ProAV
Market Growth 2030 11 ProAV 5-year CAGR V Signal Routing & Switching & 3% 5-year CAGR AV over IP \ \ Sa ‘ os 14% 5-year CAGR =e WA Source: AVIXA, NETGEAR analysis
Slide 40: We Build Products Innovation that simplifies AV
NETGEAR We Build Products | Innovation that simplifies complex AV setups Built to make complex AV deployments plug and play Partnered with 500+ AV & Broadcast manufacturers for seamless compatibility Support and Professional services from the leading experts in AV/IP deployments
Slide 41: Trusted by 500+ AV Partners Worldwide
NETGEAR AV Trusted by 500+ AV Partners Worldwide AMD<| LZISENNHEISER SHURE poly 2 CRESTRON. Panasonic VISIONARY NETWORK AUDIO VIDEO
Slide 42: NETGEAR ENGAGE
NETGEAR’ ENGAGE One dashboard for all NETGEAR AV devices Device auto-discovery and certified, profile-based configuration Control switches, routers, and WiFi together in one platform
Slide 43: NETGEAR Academy
NETGEAR’ ACADEMY The Go-To Destination for AV Professionals \ Industry-leading courses \ Certifications, resources 30K+ 10K+ users installers trained
Slide 44: Customer Testimonial: Conference Technologies
— “The secret sauce is NETGEAR’s deep manufacturer partnerships. This level of integration can’t be recreated.” p= Eric Snider cto Conference Technologies Inc. Average configuration time cut by 90% From 1 hour to 6 minutes per port a with NETGEAR AV-over-IP fm $4.3M in annual labor savings = across
Slide 45: Results with NETGEAR AV over IP: L'Oréal
FORTUNE 500 Results with NETGEAR AV over IP L’Oréal Simple, intuitive connectivity Eliminated network bottlenecks Zero support calls since deployment “By using NETGEAR switches, we avoided a bottleneck of video traffic between switches. IGMP Plus is one of the reasons why | am a fan of NETGEAR.” Jor
Slide 46: Results with NETGEAR AV over IP: Mission-Critical
Results with NETGEAR AV over IP MISSION-CRITICAL INFRASTRUCTURE IN ACTION Zero downtime across multiple sites G 7 S U aal mM it 40 switches powering mission- critical infrastructure Seamless real-time translation. broadcast and security moni ‘ . “It wasn’t just the technology that made this project
Slide 47: How We Grow in AV
How We Grow in AV Expand into broadcast and residential markets Lead with ENGAGE and position NETGEAR at the center of the AV ecosystem Differentiate with integrated Software + Hardware Strengthen professional services and partner support Accelerate AV/IT convergence with integrated Networking + Sec
Slide 48: Enterprise
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Slide 49: Enterprise
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Slide 50: Hospitality & Multi-Dwelling Units
Slide 51: Enterprise
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Slide 52: Enterprise Portfolio
t Enterprise Portfolio
Slide 53: The SME Reality
The SME Reality 4 Legacy networks limit expansion and growth & Limited IT capacity « Tight budgets, smarter spending A New apps, explosive device growth, Al « Big security risks, small safety nets
Slide 54: The SME Market Opportunity
The SME Market $21B Oo rtunit pportunity S16B STIB $12B 57% 49% 30% | 36% 5-YEAR CAGR 2.5% 6.2% 5.5% 2%
Slide 55: Modern Networking for Small and Medium Enterprises
Modern Networking for Small and Medium Enterprises Enterprise-grade reliability, security and support Security-at-scale, centralized cloud management, flawless integration SME simplicity Easy to setup, simplified management in the cloud, MSP management Affordability High-value and cost-effective, so
Slide 56: Campus Network
CAMPUS NETWORK Sarveetha — reg a Wat SIMATS needed Institute = , of Medical & © ; Technical | Sciences NETGEAR Solution A 1,000 wireless access points A 65smart switches to support fiber backbone A NETGEAR Insight cloud management Results A Dependable, consistent and reliable, campus-wide connectivi
Slide 57: Connected Classrooms
1,000 NETGEAR access points deployed across 25 schools CONNECTED CLASSROOMS Northwest Ohio School District “We've been impressed by the performance and reliability at a price that fits our budget. Our schools stay connected without the constant IT headaches, the network just works.” Technology Coord
Slide 58: Manageability with NETGEAR Insight
ps Manageability with NETGEAR Insight” ility wi i INSIGHT iwzionr qa esa ee Dashboard Monitor & Manage » Proactivity » Remote troubleshooting tools » Al & automation MSP-Centricity » Flexible licensing » APIs for MSP workflows » Future: integration with MSP PSAs Integrated Management » WiFi, switchi
Slide 59: NETGEAR Exium: Revolutionizing SME Network Security
NETGEAR’ EXIUM Revolutionizing SME Network Security * End-to-end security * MSP-driven dashboard Slash firewall costs, open revenue w/ SASE e@ e@ Remote Users a Ga | a l =| Data Center Zero-Trust q a A yber Mesh - Web /S Security Controls Qip.Gaerts) 9 Pilot | ©) Public Cloud a Y) SASE Cyber Gateway
Slide 60: NETGEAR Essentials
NETGEAR’ ESSENTIALS 4 Cost-effective network port extension si GS308EPP oa 4 Plug and play deployment without need for any setup 4 Flexible power options tet “GS305EPP 4 Unmatched HW reliabilityand warranty ~~ 4 Available in retail and ecommerce platforms ef
Slide 61: Go to Market Transformation
Go to Market Transformation V Weare here
Slide 62: Launched Nov 4, 2025
c~ LAUNCHED ON NOV 4, 2025 NETGEAR / Where Performance NETGEAR “7\ NETGEAR 79 NETGEAR 7 Joc sows ee =a i] sr Competitive O / an. : 9) / : Differentiation © Simplicity & Integrity Y Rew@pding a>
Slide 63: Subscription & Service Revenue Growth
Subscription & Service Revenue Growth Grow Subscription Component Grow the subscription base for management and security * Insight with new UX * Integrated security * Simplified subscription Offer an expanded, value-rich Support option with stricter SLAs and advanced features, that go well beyond St
Slide 64: Expectations in the Long Term 2030+
Expectations in the Long Term 2030+ Net Revenue Growth (YoY) Subscription & Service Revenue Gross Margin
Slide 65: SVP & General Manager, Consumer
SVP & General Manager, ) CONSUMER Jonathan Oakes
Slide 66: Consumer
Slide 67: Family Time
Slide 68: Hybrid Work
Slide 69: Smart Home
Slide 70: Gaming
Slide 71: On-the-Go
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Slide 72: Consumer Portfolio
Consumer portfolio ~ — Range Extenders
Slide 73: Powering Extraordinary Experiences for Everyone
Powering Extraordinary Experiences for Everyone Designed for all WiFi needs at home or on-the-go >< ar Nighthawk RS700 | MighthawkRssoo 80 ||) 2”? | Nighthawk RS100 $299 - $149 Orbi970 Orbi770 ’ $2,299 Orbi370 $349 7 Nighthawk M7 Pro mam Nighthawk M6 Pro $999 we |
Slide 74: Orbi Series Mesh System
Orbi 970 Series Mesh System “In every way, the Netgear Orbi 970 Series is the king of wireless mesh systems.” — TrustedReviews “Netgear’s Orbi 970 mesh is one of the most capable Wi-Fi 7 systems available.” — WIRED <_ “The Orbi 970 is the fastest mesh system I've tested to date.” — HighSpeedinternet
Slide 75: Award-Winning WiFi Solutions
Award-Winning WiFi 7 Solutions Nighthawk RS600 "The best Wi-Fi Routers to reach every corner of Orbi 770 Series Mesh System "An excellent choice for budget- your home.” conscious early adopters with s large homes.” = — Tom's Guide — PCMag Pe a Jexcenient | Orbi 370 Series Mesh System "It was a relia
Slide 76: Introducing Nighthawk 5G M7 Mobile Hotspot
Introducing Nighthawk 5G M7 Mobile Hotspot Reliable, high-speed freedom on your terms Ultimate flexibility OF -— Connectivity up to =] 32 devices Available Jan 27, 2026 WiFi 7 Speeds up to eSIM + SIM 3.6 Gbps Battery life up to 10 hours all 56 Operator o Et () 5.5/10GBused Expires in 30 days, @20 NI
Slide 77: Orbi
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Slide 78: Current Market Size
Current Market Size Smart Home Home & On-the-go Networking (Customer Premises Equipment) Consumer Cybersecurity Sources: ABI Research, Allied Market Research, Statista, NETGEAR Analysis
Slide 79: Large and Growing Market
Large and Growing Market Smart Home ATTY 5-year cacr Home & On-the-go Networking (Customer Premises Equipment) 6 6% 5-year car Consumer Cybersecurity *1O% 5-year cacr Sources: ABI Research, Allied Market Research, Statista; NETGEAR Analysis:
Slide 80: Growth Opportunity
Growth Opportunity hy = > { | . \ +.) |.) Cannectivity + || mo BOP MO NORS : Re ee ‘¢ _ . . . _* .
Slide 81: Our Innovation Track Record: 30 Years of Trusted Connectivity
Slide 82: Our Innovation Track Record: 30 Years of Trusted Connectivity
Slide 83: Nighthawk and Orbi
Slide 84: WiFi 8 for the AI Era
Slide 85: The Evolution of WiFi
Slide 86: Advent of the AI Age
Slide 87: AI Powers Next-Gen Experiences
Slide 88: NETGEAR AI WiFi Home Experience
Slide 89: Growth Opportunity: Smart Home
Slide 90: Smart Homes are Getting Complex
Slide 91: The Smart Home in 2026
Slide 92: The Smart Home in 2030
Slide 93: Powering Smart Homes with Google
Slide 94: Trusted Smart Home Hub
Slide 95: Growth Opportunity: Cybersecurity
Slide 96: Cyberthreats Are Escalating Around the World
Slide 97: Attackers Are at the Digital Front Door
Slide 98: Layer 1: Built-in Security
Slide 99: Layer 2: Advanced Router Protection
Slide 100: Layer 3: NETGEAR Armor
Slide 101: Moving Beyond Hardware Revenue
Slide 102: Subscription Revenue Growth
Slide 103: Expectations in the Long Term 2030+
Slide 104: Chief Financial Officer Bryan Murray
Slide 105: 2025 Scorecard
Slide 106: Long Term Planning Philosophy
Slide 107: Gross Margin Expansion
Slide 108: Mix of Enterprise and Consumer Business
Slide 109: Expand Subscription Revenue
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