#1Megaport Investor Presentation MAY 2021 Megaport Limited | ACN 607 301 959 | ASX: MP1 &#2Important Information This presentation has been authorised by the Board of Megaport. Megaport Limited ACN 607 301 959 Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell Megaport securities in any jurisdiction. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or thoroughness of the information, whether as to the past or future. Recipients of the document must make their own independent investigations, consideration and evaluation. The information contained in this presentation is subject to change without notification. This presentation includes certain forward looking statements that are based on information and assumptions known to date and are subject to various risks and uncertainties. Actual results, performance or achievements could be significantly different from those expressed in, or implied by, these forward looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Megaport. These factors may cause actual results to differ materially from those expressed in the statements contained in this presentation. For specific risks and disclaimers, please refer to the Megaport Placement & Share Purchase Plan presentation lodged with the ASX on 7 April 2020. All references to "$" are to Australian currency (AUD) unless otherwise noted. For definitions refer to the Glossary for Investors on the Megaport website at https://www.megaport.com/investor/business-overview/. A summary of Megaport's 5 year Historical KPIs and metrics to 31-Mar-21 can be found on our website at https://www.megaport.com/investor/business-overview/. Subscribe for ASX announcements at https://www.megaport.com/investor/#investor-contact Megaport Limited Level 3 825 Ann Street Fortitude Valley Queensland 4006 Contact: Steve Loxton Investor Relations Megaport Limited +61 412 595 133#3About Megaport Business Update Innovation INVESTOR PRESENTATION About Megaport Megaport 3#4ABOUT MEGAPORT The Leader in Network as a Service (NaaS) Megaport's Connectivity Model Traditional Connectivity Pricing Pay for what you use, no setup fees Expensive locked-in pricing model, expensive setup costs Speed Real-time provisioning (59 seconds) Long setup times (one week - several months) Capacity Elastic, right-sized capacity Terms Providers Fixed capacity Flexible terms, month to month contract Neutral, one-stop shop featuring all service providers Locked-in long term contracts Limited service providers Ease of Use Intuitive portal to manage network Multiple emails, calls to vendors, and contracts Megaport 4#5ABOUT MEGAPORT Growing Global Network 15 8 39 2 12 North America EMEA Finland 10 Estonia Denmark 18 Latvia Lithuania Belarus 11 21 33 4 55 74 Germany 10 116 13 Ukraine France Austria 3 24 17 10 50 Mexico Portugal 3 12 Cuba Morocco Algeria Romania Serbia Italy Tunisia Greece United Arab Emirates Kuv n China Myanmar (Burma) 17 Asia Pacific Cambodia Philippines 20 18 Indonesia Papua New Guinea Australia 5 33 18 Japan 16 Group No Pac Oc Countries 23 16 Cities 131 Installed 1 390 Enabled 2 741 New Zealand Libya Faunt Cities Installed 1 32 105 Enabled 2 206 Countries Cities 5 17 Installed 1 101 Enabled 2 130 Countries Cities Installed 2 82 184 Enabled 2 405 Countries 16 32 Megaport Enabled and In-Build Data Centres X Two or more Megaport Enabled and In-Build Data Centres 1. Installed Data Centres are Data centres in which Megaport has a Point of Presence with physical networking hardware. 2. Enabled Data Centres is the total of Installed Data Centres plus Extended Data Centres. Extended Data Centres are data centres that can be connected directly to Megaport networking hardware within Installed Data Centres by means of interconnection services offered directly by the data centre campus / facility operator of an Installed Data Centre. Megaport's complete list of locations can be found on our website. Megaport 5#6ABOUT MEGAPORT Connecting the Ecosystem 2,117 Customers 30 102 Unique Data Centre Operators Megaport's Unique Value Proposition 365+ Service Providers BBC (GE) T.Systems- serco Pulsant Business Unlimited Scalable and on demand NEC + tierpoint SUNGARD® AVAILABILITY SERVICES™ Multicloud connectivity 8 Private and Secure PORTS AMERICA GLOBAL REACH LOCAL RESULTS AT&T RagingWire DATA CENTERS An NTT Communications Company DIGITAL REALTY Flexible Terms aws Microsoft Azure ORACLE Google Cloud Cloud SAP NUTANIX IBM Cloud salesforce Q Alibaba Cloud rackspace technology OVHcloud CLOUDFLARE Megaport 6#7ABOUT MEGAPORT The Network Effect Megaport Service Connections Ports Services 31 Dec 2017 31 Dec 2018 31 Dec 2019 31 Dec 2020 Service Connection Types 20% 19% 19% 25% Direct Public Cloud 51% 16% 16% 13% Internet Exchange 64% 65% 68% 24% Private Connection Megaport 7#8ABOUT MEGAPORT Industry Growth Trends Enterprise Cloud Service Spend (US$B) 400 300 308.5 266.4 227.8 200 100 2019 2020 2021 354.6 2022 Total of: BPaaS, PaaS, SaaS, Cloud Management & Security Services, Source: Gartner, 2019 Enterprise Cloud Strategy 1000+ Employees 6% 1% 93% Multicloud Single Public Source: Flexera 2020 State of the Cloud Report Multicloud Breakdown Single Private 6% Multiple Public 87% Hybrid Cloud ✓ Number of Megaport customers connecting to multiple clouds up 7.5 times over 3 years Megaport 8#9ABOUT MEGAPORT Selection of Major Customers BBC GE amazon EllieMae SPACEX UBS PNAP AT&T APPLE WORLD MAJOR LEAGUE BASEBALL IBM Ice belkin. Anglicare afterpay Singtel NEC T-Systems M WASTE MANAGEMENT RESERVE BANK OF NEW ZEALAND TE POTEA MATUA Chevron AmericanBank AON aryaka gettyimages HKT NTT Communications Go the Distance. AUST RED CROSS ENGIE 3M ANIMALLOGIC ཁ། ITOCHU Deloitte. FedEx auto general serco car I home I business insurance serco T BHP MOODY'S Microsoft Suez vmware KDDI BainCapital INTELSAT. Thousand Eyes Akamai AVAYA PORTS AMERICA GLOBAL REACH LOCAL RESULTS vodafone Telstra BLACKROCK Tomorrow. Together T AT&T TESLA F HBO FRAMESTORE BOEING catch SOROS Soros Fund Management .com.au ferrovial services Megaport 9#10ABOUT MEGAPORT 102 Unique Data Centre Operator Partners @Tokyo 123 CITEC 1623 FARNAM 365 DataCenters 5G colocity cologi colt datult DATASITE Vlt DigiPlex FICOLO Advantage Technology Humanized networks ☐ CORESITE Data Centre Services amnet TECHNOLOGY SOLUTIONS beanfield METROCONNECT BRESCO BROADBAND Internet Telephone-Data Center CAVERN TECHNOLOGIES CyrusOne Cyxtera BB DATA BANK DATACOM DP De edgeconnex® DIGITAL REALTY FACILITIES FLEXENTIAL FUJITSU GlobalConnect DXC.technology GLOBAL SWITCH IBM INAP Interactive I/P/B/ (1) Internet Provider Berlin EQUINIX Green Mountain Chorus Datacenter LIMITED e-shelter Struxture evoque DATA CENTERS data center solutions H Ⓡ HKTⓇ iPrimus IRON MOUNTAIN" iPH Host Networks datacentre hkcolo i seek Data Centres Cloud Connectivity interxion maincubes SECURE DATACENTERS MARKLEY myLoc NEC Netrality NEXTDC Tomorrow, Together KDDI NorthC COMMUNICATIONS Level (3) CNNECT macquarie TELECOM GROUP LEDC NTT NTT DATA NYI oneAsla Trusted Global Innovator 亞洲脈絡 OvertheWire Q9 QTS RACKS CENTRAL RagingWire DATA CENTERS An NTT Communications Company ROGERS™ ROOT Data Center revera DATA CENTRES HIGH INTEGRITY IT INFRASTRUCTURE phoenixNAP GLOBAL IT SERVICES pipe networks POLARIS SABEY Data Centers SCALE MATRIX BATA CENTRE Pulsant Business Unlimited SCOTT DATACenter UNSTOPPABLE WAYS TO MOVE FORWARD SGX Spark Speedbone STREAM + tierpoint VANTAGE™ DATA CENTERS DATA VOCUS CENTERS STTelemedia SUNGARD AVAILABILITY SERVICES" Switch 5 VOLTA CHNGE webair communications Central London's Data Centre vodafone Note: List of DCO partners as at 31 March 2021 Secure. Managed. Scalable. TELEHOUSE TELEPOINT westin building EXCHANGE colocation WOWRACK Telia YourDC Megaport 10#11About Megaport Business Update Innovation INVESTOR PRESENTATION Business Update Megaport 11#12BUSINESS UPDATE 3Q FY21 Highlights¹ SA $ +8% Monthly Recurring Revenue 2 $6.3M $6.8M +8% Annualised Revenue 3 +4% Total Number of Customers 2,117 $75.0M $81.0M 2,043 31 DEC 2020 31 MAR 2021 31 DEC 2020 31 MAR 2021 31 DEC 2020 31 MAR 2021 +5% Total Number of Ports 6,691 7,037 +4% Total Number of Services 4 19,278 20,056 +1% Total Installed Data Centres 5 386 390 31 DEC 2020 31 MAR 2021 31 DEC 2020 31 MAR 2021 31 DEC 2020 31 MAR 2021 1. Refer to 3Q FY21 Global Update released to ASX on 22 April 2021 for more details. 2. Monthly Recurring Revenue (MRR) is revenue (excluding one-off and non-recurring revenue) for the last month of the relevant period. 3. Annualised Revenue is MRR for the month multiplied by 12 4. Total Services comprises of Ports, Virtual Cross Connections (VXCs), Megaport Cloud Router (MCR), and Internet Exchange (IX) 5. Installed Data Centres are Data centres in which Megaport has a Point of Presence with physical networking hardware. Megaport 12#13BUSINESS UPDATE 3Q FY21 Snapshot Improvement in Sales Momentum . Customer and port additions increased in the 2nd half of 3Q FY21, and this has continued into 4Q New CRO Rodney Foreman has improved sales discipline leading to greater focus on lead generation, building the sales pipeline and deal progression Strong sales pipeline points to accelerating QoQ growth in Underlying MRR¹ Business remains on track to achieve EBITDA breakeven, on a run rate basis, by June 2021 Expanding Channel (Indirect Sales) Capabilities Build out of Partner Ecosystem continues, including expanding relationships with our Managed Service Providers, Global Systems Integrators, Value Added Resellers, Cloud Service Providers and Value Added Distributors Hiring for key Indirect Sales team positions to work with leading distributors and resellers Q3 was marked by an improvement in sales momentum, with the strong sale pipeline now pointing to an acceleration in the growth in Underlying MRR¹ Investment in the Indirect Sales team and marketing, along with the partial relaxation of some travel restriction, is increasing confidence regarding a sustained improvement in sales momentum into FY22 1. Growth in Underlying MRR refers to the QoQ growth in MRR, excluding the estimated impact of FX movements Megaport 13#14BUSINESS UPDATE Highlights 3QFY21 Leading Cloud Partners +3% +3% Cloud Onramps 7 227 Total Enabled Data Centres 1 25 741 5 7 NEW TOTAL aws Microsoft Azure Google Cloud NEW TOTAL IBM Cloud salesforce SAP ORACLE Cloud rackspace technology Alibaba Cloud NUTANIX OVHcloud CLOUDFLARE Cloud Regions Megaport Marketplace 120 365+ 1. Enabled Data Centres is the total of Installed Data Centres plus Extended Data Centres. Extended Data Centres are data centres that can be connected directly to Megaport networking hardware within Installed Data Centres by means of interconnection services offered directly by the data centre campus / facility operator of an Installed Data Centre. Megaport 14#15BUSINESS UPDATE Megaport Cloud Enablement Available Cloud Regions aws Microsoft Azure Asia Pacific (Sydney) Asia Pacific (Hong Kong) Asia Pacific (Singapore) Asia Pacific (Tokyo) Asia Pacific (Osaka) EU (London) Australia East Australia South East East Asia Southeast Asia Japan East Japan West UK South France South Germany North UAE North US Gov Arizona US Gov Virginia US Gov San Antonio US DoD East (Virginia) US DoD Central (Chicago) North Central US South Central US West Central US East US Germany Central West Europe (Amsterdam) East US2 North Europe (Ireland) West US Switzerland North Switzerland West Norway East Norway West Google Cloud Asia Northeast1 (Japan) Asia Northeast2 (Osaka) Asia Southeast1 (Singapore) Australia South East1 (Sydney) Asia East1 (Taiwan) Europe West1 (Belgium) Europe West2 (UK) Europe West3 (Germany) Europe West4 (Netherlands) Europe West6 (Zurich) North America-Northeast1 (Montréal) US Central1 (Iowa) US East1 (South Carolina) US East4 (Virginia) West US2 Canada East Canada Central US West1 (Oregon) US West2 (Los Angeles) ORACLE Cloud APAC Sydney APAC Melbourne Japan East (Tokyo) Japan West (Osaka) EMEA Frankfurt UK South (Slough) UK Gov (London) Switzerland North (Zurich) US Ashburn US Chicago US West Phoenix US West San Jose US Gov DC US Gov PHX Canada (Toronto) Canada (Montreal) 227 Onramps 3QFY21 +7 +3% Total Onramps Microsoft Azure 51 AWS 45 Google Cloud 36 EU (Ireland) Oracle Cloud EU (Frankfurt) 22 EU (Paris) IBM Cloud 19 Cloudflare 14 Salesforce 10 EU (Stockholm) AWS GovCloud (West) US East (Ohio) US East (N.Virginia) Rackspace 9 US West (N.California) US West (Oregon) Alibaba Cloud 8 Canada (Central) Nutanix 5 SAP 5 OVHcloud 3 IBM Cloud NUTANIX ✓ OVHcloud rackspace technology Amsterdam Sydney Chicago Tokyo Dallas Toronto APAC South (Sydney) APAC North (Tokyo) EU (London) Washington DC San Francisco Santa Clara Ashburn Frankfurt London Paris EU (Germany) US East (DC) US South (Dallas) 120 Regions 3QFY21 Alibaba Cloud Asia Pacific SE1 (Singapore) Asia Pacific SE2 (Sydney) CN-Hong Kong US West 1 (Silicon Valley) US East 1 (Virginia) CLOUDFLARE Frankfurt Hong Kong London Miami New York San Jose Seattle Singapore Washington DC Dallas Chicago Hong Kong London Frankfurt Sydney salesforce SAP US East US West EU Central London UK Tokyo Australia (Sydney) Europe (Frankfurt) US East (Ashburn) US East (Sterling) US West (Chandler) Megaport 15#16BUSINESS UPDATE Customer Cohort Trends Average Services per Customer Cohort Age Year 7 20.9 Year 6 14.8 20.1 Year 5 11.1 17.8 16.3 Year 4 8.6 13.1 13.2 12.9 Year 3 6.7 8.5 10.0 10.2 11.0 Year 2 5.0 6.3 7.3 7.6 7.8 6.6 Cohort Age Average Monthly Revenue per Customer ($) Year 7 3,155 Year 6 2,637 5,785 Year 5 2,303 3,723 4,437 Year 4 1,696 2,689 3,288 4,055 Year 3 1,324 1,695 2,454 2,847 3,598 Year 2 1,240 1,274 1,624 2,027 2,528 2,759 Year 1 2.3 3.3 4.0 4.0 4.0 4.4 4.6 Year 1 433 666 672 1,131 1,249 1,257 2,008 FY14 FY15 FY16 FY17 Customer Cohort Year FY18 FY19 FY20 CAGR¹ 44% 43% 42% 48% 66% 50% FY14 FY15 FY16 FY17 Customer Cohort Year FY18 FY19 FY20 CAGR¹ 39% 54% 60% 53% 70% 119% Average Services per Customer² 9.1 +17% Customer spend increases over time as a result of service uptake and adoption Note: Yearly cohorts are customers acquired in a given reporting year 1. Compound average growth rate for each customer cohort is calculated for the period from end of Year 1 to 30 June 2020. 2. At 30 June 2020; percentage represents growth compared to 12 months earlier 3. Represents June 2020 MRR divided by total customers at 30 June 2020; percentage represents movement compared to 12 months earlier Average Revenue per Customer³ $3,068 +27% Megaport 16#17Monthly Recurring Revenue² (A$M) BUSINESS UPDATE Growth in Ports, Services, and Revenue 20,000 Total Services¹ 7.5 20,056 19,278 Total Services Ports 18,145 16,712 15,000 15,531 13,914- 12,815 11,561 10,000 10,374 8,735 7,648 6,567 5,000 4,422 5,731 5,041 3,764 746 847 324 365 1,118 504 1,428 641 1,500 736 2,412 2,768 0 1,409 1,479 1,658 2,520 2,259 2,064 1,829 2,755 3,026 3,344 3,668 4,069 4,455 4,863 5.375 5.767 6,333 6,691 7,037 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 MRR growth impacted by movements in foreign exchange rates ³ 6.8 6.3 5.7 5.8 5.4 5.0 4.6 4.1 3.6 3.1 2.7 2.4 2.5 1.8 2.0 1.6 1.2 1.3 0.8 0.9 1.0 0.2 0.2 0.2 0.2 0.3 0.0 1. Total Services comprises of Ports, Virtual Cross Connections (VXCs), Megaport Cloud Router (MCR), and Internet Exchange (IX) at period end. 2. Monthly Recurring Revenue (MRR) is revenue (excluding one-off and non-recurring revenue) for the last month of the period. 3. Refer to 3Q FY21 Global Update released to ASX on 22 April 2021 for details of MRR growth in local currency. Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Megaport 17#181HFY21 FINANCIAL PERFORMANCE Operating Leverage (month of December¹) Group (A$ million) Revenue growth 81% 8 6 4 2 0 -2 58% 73% 36% Margin Trends 1 -4 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Revenue Gross Margin Normalised EBITDA Margins Profit after Direct Network Cost Margin % Group EBITDA Margin % Dec-16 (16%) Dec-17 Dec-18 26% 37% Dec-19 53% Dec-20 54% n.m. (120%) (80%) (30%) (15%) Group EBITDA loss narrowed in Dec-20 as all regions were EBITDA positive in 2QFY21 1. All figures are for the month of December 2 Direct network costs comprise data centre power and space, physical cross connect fees, bandwidth and dark fibre, network operation and maintenance, and channel commissions which are directly related to generating the service revenue of Megaport Group. Group Profit after direct network cost 2 margin has continued to expand as MRR growth has outstripped growth in direct network costs Group EBITDA margin has significantly improved as all regions were EBITDA positive in 2QFY21 Megaport 18#19About Megaport Business Update Innovation INVESTOR PRESENTATION Innovation Megaport 19#20INNOVATION Platform Evolution 2014 Data Centre Enabled Customers A Elastic Interconnection Service Provider Ecosystem Data Centre Enabled Customers laaS / PaaS A SaaS Megaport Software Defined Network Port Marketplace Megaport Cloud Router Megaport Virtual Edge™ Cloud to Cloud Connection MSPs / NSPs 2018 Network as a Service Born in the Cloud Customers 2020 Megaport Connected Edge Born in the Cloud Customers Service Provider Data Centre Enabled Ecosystem Customers laaS / PaaS A SaaS laaS Infrastructure as a Service, PaaS = Platform as a Service, SaaS = Software as a Service, MSP = Managed Service Provider, NSP = Network Service Provider *MVE is under development with anticipated launch in 2QFY21 Service Provider Ecosystem laaS / PaaS A SaaS MSPs / NSPs MSPs / NSPs Customers with Branch Offices Megaport 20 20#21INNOVATION Megaport Connected Edge Model Cloud Connect ૦ ૦′ OC oc ос Enterprise Megaport Enabled Data Centre Multicloud & Cloud-to-Cloud - - 0 Megaport SDN Public Cloud Provider א Data Centre to Data Centre ૦ ૦ > > Oc ૦ ૦ Enterprise (₫) (A Megaport Enabled Data Centre Branch Enablement Megaport Enabled Enterprise Data Centre Megaport Cloud Router Branch Offices Public Cloud Providers Agile networking methodology enabling end-to-end, on-demand connectivity Megaport SDN Megaport Enabled Data Centre Megaport Virtual Edge *under development with anticipated launch in 2QFY21 об ૦ ૦ or c Enterprise Megaport Enabled Data Centre Public Cloud Providers Branch Offices Megaport 21#22INNOVATION Megaport Virtual Edge Overview MVE will integrate Megaport's platform with various networking technologies including SD-WAN Branch Locations API Integrations Cisco SD-WAN SD-WAN Provider 2 SD-WAN Provider 3 NFV ייייי Edge Services Branch Locations MVE laas / PaaS Megaport SDN SaaS Megaport Ecosystem 360+ Service Providers 200+ Cloud Onramps 700+ Enabled Data Centres MSPs / NSPS ... Megaport Portal Private Cloud Megaport Enabled Data Centres End-to-end Setup. Provisioning. Policy. Traffic Control, Visibility Extends reach of Megaport platform Cisco SD-WAN first MVE use case • Enables branch office connections • API for future technology support Extends enterprise network edge • Activate on demand network devices • End-to-end provisioning Megaport 22 22#23INNOVATION Megaport Virtual Edge (MVE) MVE Platform Status MVE Launched March 31, 2021 with initial support for Cisco SD-WAN Fortinet partnership announced May 19, 2021 supporting Fortinet Secure SD-WAN . MVE deployed to 21 major metros Technology Partner pipeline: 50% of SD-WAN market share¹ (source: IHS Markit) Cisco SD-WAN Integration and Service Offering • Cisco SD-WAN Cloud Interconnect with Megaport² was a featured at Cisco Live! 2021, Cisco's premiere global conference (30 March to 1 April 2021) We have started onboarding Cisco SD-WAN customers Integrated Cisco SD-WAN service offering is available in Cisco's vManage console. Integration to Cisco Commerce Workspace solution where Megaport services will be available for purchase from the global price list is due in Q1 FY22 יווייוויי FÖRTINET. vmware® VERSA NETWORKS "This collaboration extends Cisco's SD-WAN leadership, by offering an ecosystem platform for partners, of which Megaport is the first, to bridge Cisco SD-WAN fabric with the carrier-neutral and software-defined cloud interconnect fabrics." Raj Gulani, Senior Director, Product Management Cisco SD-WAN and Cloud Networking CISCO 1. Megaport is seeking to partner with several SD-WAN service providers that collectively represent 50% share of the SD-WAN market. 2. Refer to Cisco blog here and Fortinet Fabric Ready Page 0 Megaport 23#24Thank you ASX: MP1 On the Web megaport.com/investor megaport.com/media-centre Social f /megaportnetworks in @megaport @megaportnetwork Megaport Limited | ACN 607 301 959 | ASX: MP1 &