December 2016

Investor Review

This presentation contains forward-looking statements reflecting our current expectations that involve risks and uncertainties which are subject to safe harbors under the Securities Act of 1933, as amended, or the Securities Act, and the Securities Exchange Act of 1934, as amended, or the Exchange Act.

These forward-looking statements may include, but are not limited to, statements concerning our plans, objectives, expectations and intentions, future financial position, future revenues, projected costs, expectations regarding demand and acceptance for ourtechnologies, growth opportunities and trends in the market in which we operate, prospects and plans and objectives of management. The words “anticipates,” “believes,” “estimates," “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from those in the forward-looking statements, including, without limitation, the risks set forth in Part II, Item 1A, “Risk Factors” in our Quarterly Reports on Form 10-Q and in our other filings with the Securities and Exchange Commission. We do not assume any obligation to update any forward-looking statements.

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Forward-Looking Statements

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Significant Value Creating Opportunity

• Large Market shifting towards VoceraPlatform Offering

• Market Leader with Compelling ROI

• Recent Large wins Validate Sales Strategy

• Recent software acquisition extends Platform

• Accelerating toward long-term financial model.

*Earnings before interest, taxes, depreciation and amortization, and further excludes stock -based compensation and change in fair value of warrant and option liabilities.

**Represents the high end of the company’s guidance range

$95 $104

$128

-13%

-3%

3%

FY14 FY15 FY16 Guide- High**

Revenue A-EBITDA %*

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Forces in Healthcare Driving Change

EHR Pain Points

Sales Enablement

Vocera Software Platform

Technology Forces & Population Health

Embrace Innovation, Patient Focus

Right team, tools, compelling ROI.

Meaningful Use Hangover.

Time, resources now focus on better communication.

Centralized purchasing.

Expanded Functionality, 120+ Integrations, Device-of-Choice

Outside Forces Vocera Execution

Healthcare Communication Challenges

(1) Joint Commission, an independent healthcare accreditation organization(2) Agarwal et. al. Univ. of Maryland, 2010

92% of physicians use unsecured SMS text for patient care, leading to data breeches and HIPAA violations resulting in over $1.5M in fines per year

Efficient communication is a primary component in driving patient engagement and satisfaction

Nurses often only spend 20% of their time delivering direct care at the patient bedside

69% of accidental deaths and serious injuries in hospitals are caused by communications breakdowns1

Cybercriminals are increasingly going after targets in the medical and healthcare verticals

$12 billion wasted annually

In U.S. hospitals as a result of communication inefficiencies2

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Strategic Evolution

Communications

Badge-Centric

Point Product

Department Sale

Clinical Workflow

Software-Centric

Complete Solution

Enterprise Sale

Vocera Before Vocera Now

• Large System Deals

• Further penetrate existing health system customers

• Continue pace of new customer acquisition

Building momentum across new products

• EHR Integration

• Collaboration Suite

• Clinical Integration

• Even Driven Alerts

• Care Experience

Extend Reach to New Users

• Physicians

• Long Term Care

• Surgery Centers

Our Opportunity: Multiple Avenues for Growth

Attractive International Markets

• Canada

• United Kingdom

• Saudi Arabia

• UAE

• Qatar

• Australia

• Singapore

• Malaysia

Core Customer Growth

Software

New Users

International Expansion

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Our Mission

Quality ExperiencePatient-CenteredCostEnhance how care is

provided to help patients to achieve

better outcomes

Increase Operational Efficiencies

Improve patient experience by allowing

caregivers to be Patient Centered

Improve the caregiver experience by improving

workflow and empowering care teams

The Quadruple Aim

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Vocera Clinical Communication and Collaboration Platform

Communicate Engage

Experience

9

Improve response times, patient care,

safety and satisfaction

Over 120 clinical integrations

Secure Text, Voice, Image

Enterprise-Grade Communication Platform

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Hospital Staff Physicians Post Acute Home

Badge MC40-HC iPhone Android Tablets Desktop

Voice Secure Texting Clinical Integration and Workflow

Patient Engagement

Vocera Software PlatformCommunication and Clinical Workflows

Master Directory with Care Team Sync

Staff Assignment and On-Call Scheduling

Analytics and Reporting

Certified Security

Clinical System Integrations

Our Enhanced Platform

EHR

Clinical Systems

Location

Scheduling

Messaging

Voice

Vocera Core Platform

Engage(Workflow)

Acquisition Enhancements11

Integrated with 120+ Clinical Systems

Vocera’s Clinical Integrations

EHR Nurse Call

Physiologic Monitoring

Patient Management

RTLS Fall Prevention

Enhance Patient Safety

IncreasePatient Satisfaction

ImproveTeam Efficiency

DecreaseLength of Stay

Platform integration delivers critical alerts to the right user, with the right information, at the right time and place, on their device of choice

Patient SatisfactionCare Team Efficiency

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The Device of Choice Differentiator

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Key Differentiators:• Enterprise-class platform

(vs cobbling together vendors)

• Clinical Integration

• Device of Choice (Apple and Zebra)

• Vocera Badge resonates with nursing

• Superb References

• World-Class Support and Professional Services

Healthcare Recent Platform Wins Validate Strategy

(1) Joint Commission, an independent healthcare accreditation organization(2) Agarwal et. al. Univ. of Maryland, 2010 14

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Competitive Landscape

Scalable, Secure and Integrated = we consistently win >70% of competitive sales

Stat

us

Qu

o

• Pagers

• Overhead Paging

• Shouting or Walking

Wir

ele

ss

De

vice

s • Spectralink

• Cisco

• Ascom

Smar

tph

on

e

Ap

ps

• Voalte

• Tiger Text

• Texting Solutions

• Mobile Apps

Complete end-to-end solution

Role-based intelligence

Device of Choice

Ease-of-use

Hands-free

Clinical integration

Enterprise class

Trusted provider

Purpose-built device

World class service and support

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Compelling Return on Investment

10 minutes per nurse per shift

Bed turnover rates up 50%

OR revenues up $780,000

350 more annual OR capacity hours

4,000 annual ED hours recaptured

Operational Efficiency

Response times down from 2 minutes to9 seconds

35% overall Sat Rating improvement

25% improvement in HCAHPS scores

Fall related injuries down 60%; estimated $1.27 mm savings

Patient Safety and Satisfaction

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Diversified Revenue Streams

• 60% revenues are recurring

• High visibility

• Low customer concentration

% of 2015 Revenue Revenue Streams

• Perpetual licenses • Subscriptions

Software*20% recurring

15%

• Software maintenance• Technical support

Maintenance*All recurring

37%

• Professional services• Deployment & training

Services9%

39% Devices *50% recurring

• Badges• Batteries, chargers, accessories

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Q416 Revenue Visibility

Visibility to approx. 90% of top-end revenue guidance

$36.3M

(1) Earnings before interest, taxes, depreciation and amortization, and further

excludes stock -based compensation and change in fair value of warrant and option liabilities.

Q3’16 & YTD Financial Highlights

Revenue Q3 2016 Highlights

Adjusted EBITDA

$26.5 $33.8

$75.7 $91.7

Q3 15 Q3 16 YTD 15 YTD 16

($ in

Mill

ion

s)

-$0.4

$2.6

-$3.0

$3.3

Q315 Q316 YTD 15 YTD 16

($ in

Mill

ion

s)

Q3 Results exceeded expectations • 28% Revenue Growth

• Software up 32% YTD 2016

• Record Q3 Backlog, and Deferred Revenue; balanced growth

Solid Customer Base and Value Proposition• 95%+ s/w maintenance renewal rate

• Strong competitive win rate

Expanding Profitability and Cash Flow• A-EBITDA $2.6 million

• Positive operating cash flow

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+28% +21%

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Operating Leverage Drives Significant Value Creation Opportunity

Actual

2014 2015 YTD 16

R&D % of Revenue 17.2% 15.3% 13%

S&M % of Revenue 47.4% 41.3% 38%

G&A % of Revenue 12.8% 11.8% 11%

~$200M

Target Model

12%

29%

8%

Sales

Notes

• All numbers are non-GAAP• Mean peer group enterprise value comps are 3-4x Revenue and 12-15x A-EBITDA• Base year for CAGR calcs is 2015

+24%

3-yr CAGR

12%

10%

9%

+14%

5-yr CAGR

7%

6%

5%

Drivers

Growth Horizon

Thank you!