#1#2Safe Harbor Disclosure This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The words "anticipate," "expect," "believe," "will," "may," "should," "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward-looking statements. However, the absence of these words does not mean that the statements are not forward- looking. The forward-looking statements represent NETGEAR, Inc.'s expectations or beliefs concerning future events based on information available at the time such statements were made and include statements regarding: the potential separation of the Arlo business, including NETGEAR's and Arlo's expected capital structures, future financial flexibility and ability to pursue their long-term strategies, NETGEAR's future operating performance and financial condition, expected net revenue, GAAP and non-GAAP operating margins, and GAAP and non-GAAP tax rates; expectations regarding the timing, distribution, sales momentum and market acceptance of recent and anticipated new product introductions that position the Company for growth; and expectations regarding seasonal changes in the Company's business performance. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including the following: future demand for the Company's products may be lower than anticipated; consumers may choose not to adopt the Company's new product offerings or adopt competing products; product performance may be adversely affected by real world operating conditions; the Company may be unsuccessful or experience delays in manufacturing and distributing its new and existing products; telecommunications service providers may choose to slow their deployment of the Company's products or utilize competing products; the Company may be unable to collect receivables as they become due; the Company may fail to manage costs, including the cost of developing new products and manufacturing and distribution of its existing offerings; the Company may fail to successfully continue to effect operating expense savings; changes in the level of NETGEAR's cash resources and the Company's planned usage of such resources, including potential repurchases of the Company's common stock; changes in the Company's stock price and developments in the business that could increase the Company's cash needs; fluctuations in foreign exchange rates; and the actions and financial health of the Company's customers. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Part II - Item 1A. Risk Factors," pages 50 through 71, in the Company's quarterly report on Form 10-Q for the fiscal quarter ended October 1, 2017, filed with the Securities and Exchange Commission on November 3, 2017. Given these circumstances, you should not place undue reliance on these forward-looking statements. NETGEAR undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This presentation does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. If an initial public offering is made, such offers will be made only by a prospectus filed with the Securities and Exchange Commission. All product and company names herein are or may be trademarks of their respective owners. 2 NETGEAR®#33 Special Update Separating the Arlo Business NETGEARⓇ#4Two Leading Businesses #1 WiFi & Switching SHARE NETGEAR North America Retail orbi NIGHTHAWK orbi orbi NIGHTHAWK NETGEAR NETGEAR NETGEAR Insight #1 SHARE DIY IP Cameras in North America Retail arlo arlo Carlo#5#66 d Long-term Business Models for Both Carlo Acquire Customer 5's NETGEARⓇ Hardware Purchase 0 Registration + Continuous Engagement arlo Recurring Revenue $ Add-on and Replacement NETGEARⓇ#7#8#99 Feb 6 Roadmap to Separation 1H 2019 Today's announcement 2H 2018 IPO <20% OF ARLO IPO subject to customary conditions, including: Effective S-1 registration Approval for listing on exchange Final approval by the NTGR Board Favorable market conditions and tax and legal considerations DISTRIBUTE THE REMAINING 80% + OF ARLO TO ALL NTGR SHAREHOLDERS (FINAL SPIN) Final spin subject to customary conditions, including: Final approval from NTGR Board Favorable market conditions and tax and legal considerations, including receipt of tax opinion NETGEARⓇ#1010 4Q17 Corporate Overview NETGEARⓇ#11#12#13#14#15#16#17#18#19#20#21#22#23#24#25#26#27#28#29#30#31#32#33#34#35#36#37#38#39#40#41