2020 Half Year Results

September 24, 2020

2ATEME © 1991-2020

Disclaimer

This presentation does not constitute or form part of and should not be construed as any offer for sale of or solicitation of any offerto buy any securities of ATEME, nor should it, or any part of it, form the basis of or be relied on in connection with any contract orcommitment whatsoever concerning ATEME’s assets, activities or shares.

All statements other than historical facts included in this presentation, including without limitations, those regarding ATEME’sposition, business strategy, plans and objectives are forward-looking statements.

The forward-looking statements included herein are for illustrative purposes only and are based on management’s current views andassumptions. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks includebut are not limited to impact of external events on customers and suppliers; the effects of competing technologies competitiongenerally in main markets; profitability of the expansion strategy; litigation; ability to establish and maintain strategic relationshipsin major businesses; and the effect of future acquisitions and investments.

ATEME expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in thispresentation to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based,unless so required by applicable law. These materials are supplied to you solely for your information and may not be copied ordistributed to any other person (whether in or outside your organization) or published, in whole or in part, for any purpose.

3ATEME © 1991-2020

Presenters

Michel ArtièresFounder & Chief Executive Officer

Degree in Engineering from Supelec, Paris, with a specialization in signal processing and telecommunications

Fabrice Sana Chief Financial Officer

Degrees from the European Business School and ESSEC

4ATEME © 1991-2020

1.ATEME for beginners2. Market Trends

3. Financial Performance

4. Strategy

5ATEME © 1991-2020

ATEME Factsheet

43 Patents

Up 55% in 2019

300 people in 18 countries

Public since 2014

800 clients in 100 countries

66.4 M€ in 2019 (+18%)

ATEME helps Content Providers and Service Providers transform their video delivery to

enable innovative live and on demand video services and enhance the quality of experience

MRRMONTHLY

RECURRINGREVENUE

6ATEME © 1991-2020

A Complete Offer for the Complete Video Flow

Service Provider(Satellite, Cable, Telco)

Video Headend

Event

ContributionPrimary

DistributionDistribution

OTT / Multiscreen

Subscriber

CDNContent Provider

TV Network

Kyrion encoders in the trucks and decoders at the TV station

TITAN is a virtualized Video Headend software covering all Live and File needs

7ATEME © 1991-2020

1. ATEME for beginners

2.Market Trends3. Financial Performance

4. Strategy

8ATEME © 1991-2020

Evolution of the Media Landscape

Studios/Broadcasters/NetworksCreated string brands in the 80’s-90’s

Service Providers (MVPDs) Historically, got the broader access to customer

SVOD or Ad-Supported VOD ServiceImpose Binge Watching as the Way to consume video

Virtual Service Providers (vMVPDs)New content or Skinny cost-effective bundlesNew

Entrants

Digital Native

Traditional Players

TV/STB native

Content ProvidersCreate/Produce/License Content

Service ProvidersAggregate/Distribute Content

9ATEME © 1991-2020

Challenges: Lost in Searching, Fragmentation, Subscription Fatigue

Where do I find this content ? (eg: Aquaman vs Avengers vs Peaky

Blinders)

Content Fragmentation

Will we pay for 10-12 services ?Again my ID/Password/Credit Card ??

(Player solving this issue in a diff Industry: WhatsApp)

Subscription Fatigue

10ATEME © 1991-2020

Opportunities: SPs Become OTT App Aggregators, Personalized TV

MVPDs (Comcast, LG, Canal+…) acting as OTT App Market Place

In some regions sensitive to credit card payment, they are also carrier billing

Personalized TV

aka Linear On Demand

‘’The great un-bundling could give birth to the great re-bundling’’, Matt Strauss, Chairman, Peacock and NBCUniversal Digital Enterprise

11ATEME © 1991-2020

The Power of Personalization

Source: The Trade DeskSource: Google

Source: Tivo

Reduce Churn Rate for Service Providers Customers are Looking for It

Increase Ads Revenue

12ATEME © 1991-2020

COVID: Acceleration to Multi & Hybrid Cloud

Post Covid-19, 93% of enterprises have a multi-cloud strategy

Companies use an average of 2.2 public clouds and 2.2 private clouds

Public Cloud

Source: Flexera 2020 State of the Cloud Report

Strengthening ATEME competitive advantages

• ATEME solutions are agnostic to infrastructure

• Strong partnership build with AWS, MS Azure, Google Cloud and leading regional cloud providers

Private cloud Virtualisation

13ATEME © 1991-2020

1. ATEME for beginners

2. Market Trends

3.Financial Performance4. Strategy

14ATEME © 1991-2020

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Q1 Q2 Q3 Q4

Revenues Evolution by Quarter

€37.5m

€28.6m

€12.3m

€17.9m€20.6m

€24.8m

IPO

€48.6m -3%OrganicgrowthIn S12020

-5%at constant

exchange rate

€56.5m

13.6

€66.3m

12.4

16.5 16.7

€29.0m

15ATEME © 1991-2020

S1 2020 Revenue Split and Growth by Region

USA/CAN+19%

LATAM-45%

APAC+34%

S1 2020 REVENUE SPLIT BY REGION S1 2020 REVENUE GROWTH BY REGION

-xx%at constant

exchange rate

+xx%at constant

exchange rate

+xx%at constant

exchange rate EMEA-20%

+15%at constant

exchange rate

-46%at constant

exchange rate

+31%at constant

exchange rate

EMEA8.027%

USA/Canada12.744%

LATAM3.010%

APAC5.419%

16ATEME © 1991-2020

MRR (12 months) FY GM

MRR Up 55% in 2019 and 25% in H1 2020

Multi-Year Contracts

Monthly Recurring Revenue

SLASoftware

Lease Contracts

• €8.4 million in multi year contracts in January 2020 (vs 0 in 2019)• Monthly Recurring Revenue up 25% in H1 (€1.1m in July 2020 vs

€0.9m in January 2020)

in € January 2018 January 2019 January 2020 July 2020

MRR 300,000 570,000 880 000 1 100 000

FY GM 28,000,000 36,000,000 n/a n/a

MRR (12 months) as a % of GM

13% 19% n/a n/a

✓ Increased visibility with secured revenues

✓ Higher resilience in crisis✓ Increased profitability with

optimization of S&M costs

€28m

€36m

€3.6m

€10.6m €6.8m

€13,2m

17ATEME © 1991-2020

H1 2020 P&LConsolidated data – IFRS –in thousands of euros

Improved product mix with increased software sales increased and reduced resale of third-party products (notably servers sold with TITAN software)

Opex was contained at 10%, focus on strategic investment in future software solutions (R&D)

H1 2019 H1 2020 % change

Revenue 30,080 29,039 -3%

Gross profit 14,052 14,554 +4%

Gross margin 46.7% 50.1% +3.4 points

R&D expenses (4,507) (5,640) +25%

Sales & marketing expenses (9,095) (9,484) +4%

G&A expenses (1,706) (1,674) -2%

Total Opex 15,308 16,798 +10%

Operating profit (1,256) (2,243) na

Financial loss (102) (99)

Financial profit 4 4

Exchange effect 159 (60)

Tax income 12 (193)

Net profit (1,182) (2,591) na

18ATEME © 1991-2020

IPO July 2014

2016

2015

2014

Growing Profitably Since 2016

2017

€12.3m

€-2.5m

€15.0m

€-1.6m

€16.3m

€0.0m

€12.9m

€-1.1m

€11.9m

€-0.9m

165135

170

€22.5m

€3.6m

Revenues

Net Loss/Profit

220

€20.9m

€0.3m

€27.7m

€3.5m

2018

€23.2m

€-3.2m

252

€33.3m

€4.9m

2019

€30.1m

€-1.2m

300

€36.2m

€5.8m

2020

€29.0m

319

€-2.6m

19ATEME © 1991-2020

2020/06/30 Balance SheetConsolidated data - IFRS – in thousands of euros

2019/12/31 2020/06/30A

SSET

S

Non-current assets 8,931 8,780

Current assets 48,204 55,307

o/w stocks 3,065 4,410

o/w trade receivables 29,333 23,118

o/w cash and cash equivalents 10,345 20,654

57,135 64,087

LIA

BIL

ITIE

S

Shareholders’ equity 27,127 25,354

Non-current liabilities 8,217 11,696

o/w non-current financial debt 5,420 9,008

Current liabilities 21,791 27,037

o/w current financial debt 1,252 5,453

o/w trade payables 10,399 10,944

57,135 64,087

Strong increase in Cash associated with positive change in working capital and bank and government-backed loans (PGE). Net cash (excl. IFRS 16) at €6.2m

20ATEME © 1991-2020

H1 2019 FCFConsolidated data - IFRS – in thousands of euros

Net Cash end of June 2020: €6.2m

2019/06/30 2020/06/30

Net Profit (Loss) (1,182) (2,591)

(-) Elimination of non-cash elements 1,671 2,263

Gross cash flow 489 (329)

(-) Change in Working Capital 923 (4,238)

Cash flow from operations (434) 3 909

Cash flow from investing activities (1,000) (1,132)w/o new tangible and intangible fixed assets (538) (936)w/o capitalisation of development costs (300) (295)

Cash flow from financing activities (269) 7,579w/o exercice of stock-options 310 199w/o new borrowings - 8 078w/o interest expense (58) (74)w/o repayment of loans and contingent advances (580) (224)w/o repayment of financial leases (393) (400)w/o other financial flows (including factoring) 451 -

Currency effect 14 (45)

Net Change in Cash (1,689) 10,311

Opening Cash position 6,206 10,341

Closing Cash position 4,517 20,652

Bank and government-backed loans

Significant decreased in trade receivables (high level of invoicing in Q4 2019)

21ATEME © 1991-2020

Visibility on a solid pipeline of funded opportunities,including TITAN playout solution

Expanding portfolio of software solutionswith Aneviaacquisition

2020-21 Outlook

Solid cash position

Habitual H2 revenue

acceleration

MRR x2 in 18 months to 1.1 M€

in July 2020

DELIVER MODERATE GROWTH AND OPERATIONAL PROFITABILITY IN FY 2020& PREPARE FOR AN EXCITING 2021

22ATEME © 1991-2020

1. ATEME for beginners

2. Market Trends

3. Financial Performance

4.Strategy

23ATEME © 1991-2020

Playout Brings Video Contents To Home

Live Streams

Video Files

Subtitles

Playlist

Graphics

PLAYOUT

Source : ESPN User Interface

24ATEME © 1991-2020

Prepare Expanding to CPs and SPs OTT delivery

Service Provider(Satellite, Cable, Telco)

Video Headend

PrimaryDistribution

Traditional Distribution

SubscriberCDN

Content ProviderTV Network

CDN

2 Enable new decentralized

distribution workflow for SPs

1 Enable CPs’ direct access

to consumers

OTT

Most of ATEME business today

Playout Compression Distribution

NEA (Anevia) TITAN Live TITAN Playout

25ATEME © 1991-2020

Acquisition of Anevia, Established Leader of OTT & IPTV Delivery

2019 REVENUES: €15.8M

202 CUSTOMERS

IN 60 COUNTRIES

110 PEOPLE

70% engineers

CAGR 2015-2019: +21%Company founded in 2003

Approved & deployed by Tier-1

26ATEME © 1991-2020

ANEVIA & ATEME to Win the OTT Market

Service Provider(Satellite, Cable, Telco)

End-userContent Provider

TV Network

Direct-to-Consumer

Channel Origination

VideoHeadend

OTTStreaming

CDN Cloud DVR Analytics

High Fidelity QualityMulti-Cloud Operations

Reduced TCO of 1000’s of channels

Low Latency NetworkMonetizing OTT with Cloud DVR, Catch-up TV

Customize Ads and Content

Enhanced Customer SatisfactionIncreased ARPU & Ads Revenue

Reduced Churn Rate

CDN

27ATEME © 1991-2020

Contribution Distribution File Prod File VOD D2C Dist.Channel

OriginationOrigin Cloud DVR CDN Analytics

x x x x x x x x x x

x x x x x x x x (3rd party)

x x x x x x x

x x x x x x x

x x x x x x Cloudfront Analytics

x x x x

x x x x

x x x

x x x

$2b TAM, Unique Innovative Player with E2E Offering

~$1b TAM~$1b TAM

28ATEME © 1991-2020

Investor Relations

Next investor dates

Market data

ISIN: FR0011992700 - Ticker: ATEME

Stock price: €17.8 (as of September 22, 2020)

Market cap: €187.3m (as of September 22, 2020)

Concert Artières

12%NJJ Capital (Xavier Niel)

5%

Keren Finance6%

Axa IM5%

Otus Capital10%

Others < 5%60%

Liquidity contract: Kepler Cheuvreux

Source : Company, as of August 31, 2020

Shareholder structureNumber of shares : 10,520,563Potential dilution : 239,188

Stock price (€)

Volumes(nb of shares)

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