2020 Results

March 25, 2021

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.Two Leaders Joining Forces

2. Market Trends

3. ATEME 2020 Results

4. Outlook

5ATEME © 1991-2020

ATEME + ANEVIA = Two Leaders Joining Forces

51 Patents

Up 70% in 2020

450 people in 20 countries

Public since 2014

1000+ clients in 100 countries

71 M€ in 2020, up 7%

ATEME + ANEVIA help Content Providers andService Providers transform their video deliveryto enable innovative live and on demand videoservices 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

NEA is a software suite for the OTT delivery (CDN, cloud DVR, DAI)

NEA is a software suite for the OTT delivery (CDN, cloud DVR, DAI)

7ATEME © 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

8ATEME © 1991-2020

Contribution Distribution File Prod File VODD2C

DistributionChannel

OriginationOriginServer

Cloud DVR DAI CDN Analytics

x x 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 x x x Cloudfront Analytics

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

9ATEME © 1991-2020

Video Headend and CDN Complementary Sales Cycles

Year 1 Year 2 Year 3 Year 4 Year 5

Headend (encoding)

CDN (incl. Origin)

Inve

stm

ent

($)

Video Headend (encoding) business

• Investments driven by the amount of content (live channels, VOD catalogue)

• Typically generating flat repeat business

CDN / OTT video delivery business

• Investments driven by the growth of the traffic

• Successful OTT services face a X2 traffic every year

ATEME © 1991-2021. Confidential & Proprietary10

ATEME Engaged in Corporate Social Responsibility

People Environment

Ateme and our people

• Focus on talent development

• Equal treatment for men and women

• Non-discrimination in hiring

• Ethic management

Ateme and the world

• Ethic business relationship with shareholders, clients, partners and suppliers

• Donations to charity organizations (humanitarian, education)

Titan and Nea innovations saved 65% of the video delivery energetic impact in 3 years while improving viewers’ experience

Targeting 50%+ additional savings in the next 3 years

Ateme committed to reduce our own impact by 50% in 3 years

• Reduction of business trips and attendance on trade shows

• 50% telework approved for R&D and HQ as the new normal

11ATEME © 1991-2020

1. Two Leaders Joining Forces

2.Market Trends3. ATEME 2020 Results

4. Outlook

12ATEME © 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

13ATEME © 1991-2020

Subscribers Move to New Services, TV Viewing is Shifting

The AVOD- SVOD continuum excluding traditional linear TV

Pay TV and SVOD subscribersEurope, million subscribers, 2014-20

SVOD & OTT services subscribers experience the highest growth rate

The switch to online video is global

Source: The State on the Online Video 2020, LimelightSource: Dataxis

14ATEME © 1991-2020

Continuously Pioneering the Visual an Audio ExperienceATSC 3.0 Example:

Better Spectrum Efficiency - Higher Quality - TV/Mobile Convergence - Content protection - Personalization

15ATEME © 1991-2020

Enhancing Analytics Offering Higher QoE

Top challenges for scaling the number of viewers

Source: Survey conducted by Dan Rayburn, Q2, 2020 with 300 respondent

16ATEME © 1991-2020

Accompanying the Migration to Private CDN / Multi CDN

Service CDN

Build your own CDNInterconnect CDN Enabled

• Pay as you go• Global reach

• CAPEX investment• QoS control• Analytics

• ISP partnerships

CD

N S

ele

ctio

n

Source: Rethink Research, CDN Forecast to 2024, September 2019

75%

25%

75% of video traffic in North America delivered through private CDN

17ATEME © 1991-2020

5G Broadcast – When Over-The-Air Meets Over-The-Top

• Convergence of OTT and Over-the-Air

• Pro-active standardizations activities: DVB-I, MABR, CMAF

• Strong parentship with ecosystem players

Leveraging Ateme’s expertise and involvement in standardisation

18ATEME © 1991-2020

Enabling Personalization for Boosting Engagement

Netflix is testing a TV-like channel based on their recommendation engine

The Wheather Channel has launched a local OTT version

19ATEME © 1991-2020

The Power of Personalization

Source: Deloitte InsightsSource: Google

Source: Tivo

Boosting Viewership Engagement Customers are Looking for It

Increase Ads Revenue

20ATEME © 1991-2020

How We Help

Personalization

Sustainable & Green Video Services

Generate New Revenue Streams

Next Gen Distribution: 5G, Services Aggregation

Lower Cost of Delivery and Customer Acquisition

High QoE on any screen boosting subscription

21ATEME © 1991-2020

1. Two Leaders Joining Forces

2. Market Trends

3.ATEME 2020 Results4. Outlook

22ATEME © 1991-2020

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Q1 Q2 Q3 Q4 Anevia (2 months)

Revenues Evolution by Quarter

€37.5m

€28.6m

€12.3m

€17.9m€20.6m

€24.8m

IPO

€48.6m

+32% GrowthIn Q4 2020

+11%at constant

exch. Rate & perimeter

€56.5m

13.6

€66.3m

12.4

16.5 16.7

14.115.4

€70.7m

22.320.9

2020 REVENUES

€70.7m, up + 7%

(flat at constant exch. Rate & perimeter)

5.3

STRONG GROWTH IN

Q4

23ATEME © 1991-2020

2020 Revenue Split and Growth by Region

USA/CAN+8%

LATAM-16%

APAC+43%

2020 REVENUE SPLIT BY REGION 2020 REVENUE GROWTH BY REGION

-xx%at constant

exchange rate

+xx%at constant

exchange rate

+xx%at constant

exchange rate EMEA+2%

+7%(at constant

exch. rate and perimeter)

-41%(at constant

exch. rate and perimeter)

+45%(at constant

exch. rate and perimeter)

EMEA24.935%

USA/Canada26.537%

LATAM7.511%

APAC11.817%

-7%(at constant

exch. rate and perimeter)

24ATEME © 1991-2020

MRR up 70% in 2020

Multi-Year investment Contracts

Monthly Recurring Revenue

SLASubscription

Contracts

January 2018 January 2019 January 2020 January 2021✓ Increased visibility with secured

revenues✓ Higher resilience in crisis✓ Increased profitability with

optimization of S&M costs

€300k

€880k

€570k

€1.5m +55%

+70%

25ATEME © 1991-2020

-2%

-85%

-%

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

Higher gross margin due to improved mix product included substantial software sales in H2

OPEX (€37.0m versus €31.4m in 2019), up 18%, including Anevia integration as of Nov. 1st, 2020

+7%

+8%+0.6pts

-60%

+170%

€2.3m net profit generated in H2

2019 H1 2020 H2 2020 2020

Revenue 66,325 29,039 41,700 70,739

Gross profit 36,102 14,554 24,349 38,903

Gross margin 54.4% 50.1% 58.3% 55.0%

R&D expenses (9,570) (5,640) (7,053) (12,693)

Sales & marketing expenses (18,588) (9,484) (10,687) (20,171)

Other G&A expenses (3,214) (1,674) (2,459) (4,133)

Current operating profit 4,730 (2,243) 4,149 1,906

Operating margin 7.1% -7,7% 9,8% 2.7%

Other operational expenses - - (713) (713)

Operating profit 4,730 (2,243) 3,436 1,193

Financial loss (188) (99) (228) (327)

Financial profit 12 4 30 34

Exchange effect (37) (60) (1,029) (1 089)

Tax income 76 (193) 107 (86)

Net profit 4,607 (2,591) 2,316 (275)

Net margin 6.9% -8.9% 5,5% - %

at constant exch. Rate & perimeter

Exceptional costs of €0.7m related to the acquisition of Anevia

EBITDA at €6.9m in 2020 (vs. 8.4 in 2019)

26ATEME © 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

€22.5m

€3.6m

Revenues

Net Loss/Profit

€20.9m

€0.3m

€27.7m

€3.5m

2018

€23.2m

€-3.2m

€33.3m

€4.9m

2019

€30.1m

€-1.2m

€36.2m

€5.8m

2020

€29.0m

€-2.6m

165135

170

220252

300

448*

€41.7m

* incl. Anevia employees

€2.3m

27ATEME © 1991-2020

2020/12/31 Balance SheetConsolidated data - IFRS – in thousands of euros

2019/12/31 2020/12/31

ASS

ETS

Non-current assets 8,931 31,942

o/w Goodwill - 13,186

o/w Intangible assets 1,716 10,850

Current assets 48,204 61,530

o/w stocks 3,065 4,456

o/w trade receivables 29,333 31,665

o/w cash and cash equivalents 10,345 17,095

57,135 93,472

LIA

BIL

ITIE

S

Shareholders’ equity 27,127 35,560

Non-current liabilities 8,217 19,234

o/w non-current financial debt 5,420 16,154

Current liabilities 21,791 38,678

o/w current financial debt 1,252 8,371

o/w trade payables 10,399 14,605

57,135 93,472

Acquisition of Anevia

Of which €3.7m related to the

acquisition of Anevia (earn-out)

Solid cash position

Net debt of €3.7m

28ATEME © 1991-2020

2020 FCFConsolidated data - IFRS – in thousands of euros

Strong performance of cash flow

from operations : €6.0m

Cash position end of Dec. 2020 : €17.1m

2019/12/31 2020/12/31

Net Profit (Loss) 4,607 (275)

(-) Elimination of non-cash elements 3,980 5,385

Gross cash flow 8,587 5,110

(-) Change in Working Capital 3,224 (898)

Cash flow from operations 5,364 6,008

Cash flow from investing activities (1,850) (10,014)

w/o new tangible and intangible fixed assets (1,271) (1,896)

w/o capitalisation of development costs (497) (582)

w/o perimeter changes - (7,438)

Cash flow from financing activities 583 10,863

w/o exercice of stock-options 332 453

w/o capital increase costs - (450)

w/o new loans and contingent advances 2,067 12,992

w/o interest expense (101) (242)

w/o repayment of loans and contingent advances (1,189) (975)

w/o repayment of financial leases (783) (859)

w/o other financial flows (including factoring) 257 (56)

Currency effect 39 (106)

Net Change in Cash 4,135 6,751

Opening Cash position 6,206 10,341

Closing Cash position 10,341 17,092

Anevia Acquisition loans & state-

guaranted loans (PGE)

29ATEME © 1991-2020

1. Two Leaders Joining Forces

2. Market Trends

3. ATEME 2020 Results

4.Outlook

30ATEME © 1991-2020

Boosting future profitability with the ramp-up of MRR

€4mMRR€3m

MRR€1.5mMRR

EBITDA> €10m

EBITDA€30m

€5-10m

€5-10m

€5-10mEBITDAtarget

2021 2024 20262022 2023

Revenues CAGR

10-15%

Strongly growing MRR

MRR covering

50%of cost base

MRR covering

60%of cost base

Doubling NEA revenuesover 2 years

31ATEME © 1991-2020

Investor Relations

Next investor dates

Market data

ISIN: FR0011992700 - Ticker: ATEME

Stock price: €17.80 (as of March 24, 2021)

Market cap: €198.2m (as of March 24, 2021)

Concert Artières

11%

NJJ Capital (Xavier Niel)

5%

Keren Finance5%

Axa IM5%

Otus Capital

9%

Others < 5%65%

Liquidity contract: Kepler Cheuvreux

Source : Company, as of February 28, 2021

Shareholder structureNumber of shares : 11,147,574 Potential dilution : 327,438

Stock price (€)

Volumes(nb of shares)

May 6, 2021 2021 First Quarter Revenues

June 9, 2021 Annual Shareholders Meeting

July 16, 2021 2021 Half-Year Revenues

September 28, 2021 2021 Half-Year Results

November 5, 2021 2021 Third Quarter Revenues0

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