#1Megaport Investor Presentation FEBRUARY 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-Dec-20 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 7 37 12 17 North America 18 EMEA Finland 2 4 10 stan Estonia stan Nepal Denmark Latvia Lithuania India 8 20 31 11 Belarus A 13 9 112 4 51 65 A Czechia 3 Ukraine 23 France 10 50 9 Austria Moldova A 2 Serbia Italy 2 Mexico Guatemala 12 3 Portugal Cuba Tunisia Morocco Greece United Arab Emirates Mongolia Asia Pacific Chinal 17 Laos Vietnam Philippines Group Sendai N Countries Pa Japan 23 16 0 Sri Lanka 16 Indonesia Papua New Guinea Ge Indian Ocean Australia 5 29 17 15 New Zealand Cities 130 Installed 1 386 Enabled 2 716 Countries Cities Installed 1 2 82 184 Enabled 2 390 Countries 16 Cities 32 Installed 1 105 Enabled 2 202 Countries Cities Installed 1 5 16 97 Enabled 2 124 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 5#6ABOUT MEGAPORT Connecting the Ecosystem 2,043 Customers 30 102 Unique Data Centre Operators Megaport's Unique Value Proposition 365+ Service Providers Pulsant Business Unlimited Scalable and on demand Canon BHP The Washington Post accenture Suez AutoNation NEC + tierpoint SUNGARD® AVAILABILITY SERVICES™ RagingWire DATA CENTERS An NTT Communications Company Multicloud connectivity 8 Private and Secure 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) 400 300 200 100 308.5 266.4 227.8 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 Transport P ENGIE ING BANK Brambles BLACKROCK amazon vodafone MAJOR LEAGUE BASEBALL MOODY'S News Corp Australia MIZUHO accenture NSW NENT for NSW NTT Communications Go the Distance. USTRALIA RED CROSS gettyimages salesforce DBS SAP Ω facebook New York Public Library lululemon athletica Australia Pacific Airports Schlumberger of catholicon BUREAU VERITAS BOEING TSystems HGC GLOBALUNICATIONS CHEP A Brambles Company snowy hydro Bupa AON ZUELLIG PHARMA CAPITAL GROUP HALLIBURTON making healthcare more accessible BHP NEC Uber Singtel technicolor voxbone RE APPLE Sca catholic healthcare WORLD 中国电信 & FedEx NXP Air Liquide CHINA TELECOM TREASURY FRAMESTORE Link your destination. REA Group GENERAL sara DYNAMICS SUNPOWER 中国投资有限责任公司 CRCL CHINA INVESTMENT CORPORATION 香港| HONG KONG INTERNATIONAL 國際機場| AIRPORT JCDecaux Lendlease mastercard. Rabobank seek Brookfield indeed T one search. all jobs. TESLA BART Hydro Québec KARMA Disney ebay American Airlines T Deutsche Telekom Telstra Suez BRISBANE CITY SJJ OCBS SAN JOSE WATER CORPORATION Chevron UGRO AYA FUJITSU Microsoft eDF MONSTER Health Care TOYOTA renewables Universität Stuttgart FLIGHT COLUMBIA UNIVERSITY CENTRE Ramsay IN THE CITY OF NEW YORK THE GLOBAL GOOD FUND >>> Megaport 9#10PARTNERS & CUSTOMERS 102 Unique Data Centre Operator Partners @Tokyo 123 colocity cologix colt DCI DigiPlex Data Centers 1623 FARNAM Data Centre Services 365 DataCenters 5G Technology Humanized™ networks amnet TECHNOLOGY SOLUTIONS □ CORESITE CyrusOne. Cyxtera DP Xe edgeconnex® FACILITIES DIGITAL REALTY FLEXENTIAL FUJITSU IBM INAP Level (3) CNNECT COMMUNICATIONS NTT QTS NTT DATA Trusted Global Innovator GlobalConnect Interactive DXC.technology macquarie GLOBAL SWITCH beanfield METROCONNECT BRESCO BROADBAND Internet-Telephone - Data Center CAVERN TECHNOLOGIES Chorus DATA BANK DATACOM e-shelter Struxture DATA CENTERS hkcolo Datacenter DATASITE EQUINIX Green Mountain 年】 Ⓡ HKT interxion™ iPrimus IRON MOUNTAIN" Internet Provider Berlint iPH I/P/B/ maincubes TELECOM GROUP SECURE DATACENTERS RACKS RagingWire DATA CENTERS An NTT Communications Company Sparknz Speedbone LIMITED evoque data center solutions MARKLEY myLoc NEC Netrality managed IT NYI oneAsla 亞洲脈絡 OvertheWire * ROGERS DATA CENTRES ROOT Data Center revera HIGH INTEGRITY IT INFRASTRUCTURE STREAM DATA CENTERS VANTAGE™ DATA CENTERS VOCUS communications vodafone Note: List of DCO partners as at 30 June 2020 STTelemedia SUNGARD AVAILABILITY SERVICES VOLTA CHNGE webair Central London's Data Centre Secure. Managed. Scalable. phoenixNAP IGLOBAL IT SERVICES pipe networks Data Centers Host Networks datacentre CITEC datait FICOLO see e k Data Centres Cloud Connectivity NEXTDC Advantage Tomorrow, Together KDDI noris network Pulsant Q9 Business Unlimited SCOTT DATA Center SGX== UNSTOPPABLE WAYS TO MOVE FORWARD Telia YourDC + tierpoint Colo POLARIS DATA ENTRE SABEY switch Data Centers SCALE MATRIX TELEHOUSE TELEPOINT colocation westin building WOWRACK EXCHANGE Megaport 10#11About Megaport Business Update Innovation INVESTOR PRESENTATION Business Update Megaport 11#12BUSINESS UPDATE Highlights 1HFY21 SA $ +11% Monthly Recurring Revenue 1 $5.7M $6.3M +11% Annualised Revenue 2 $67.8M $75.0M 888 +11% Total Number of Customers 1,842 2,043 30 JUNE 2020 31 DEC 2020 30 JUNE 2020 31 DEC 2020 30 JUNE 2020 31 DEC 2020 +16% Total Number of Ports 5,767 6,691 30 JUNE 2020 31 DEC 2020 +15% Total Number of Services 3 16,712 19,278 +5% Total Installed Data Centres 4 366 386 30 JUNE 2020 31 DEC 2020 30 JUNE 2020 31 DEC 2020 1. Monthly Recurring Revenue (MRR) is revenue (excluding one-off and non-recurring revenue) for the last month of the relevant period. 2. Annualised Revenue is MRR for the month multiplied by 12 3. Total Services comprises of Ports, Virtual Cross Connections (VXCs), Megaport Cloud Router (MCR), and Internet Exchange (IX) 4. Installed Data Centres are Data centres in which Megaport has a Point of Presence with physical networking hardware. Megaport 12#13BUSINESS UPDATE Highlights 1HFY21 ༢༩༢ Leading Cloud Partners +12% +7% Cloud Onramps 23 3 220 Total Enabled Data Centres 1 47 716 NEW TOTAL NEW 1HFY21 ✔OVHcloud CLOUDFLARE NEW TOTAL aws Microsoft Azure Google Cloud IBM Cloud salesforce SAP ORACLE Cloud rackspace NUTANIX technology +10% Cloud Regions Alibaba Cloud 11 120 NEW TOTAL Megaport Marketplace 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 13#14BUSINESS UPDATE Revenue Performance 1HFY21 North America Asia Pacific 1HFY21 $17.2M $5.8M 51% 1HFY20: $11.4M 1HFY21 $12.3M $2.9M 31% 1HFY20: $9.4M Europe 1HFY21 $6.5M $1.4M 30% 1HFY20: $5.1M Global 1HFY21 $36.0M $10.1M 39% 1HFY20: $25.9M Note: Growth rates are calculated using the actual $ values. Megaport 14#15220 Onramps BUSINESS UPDATE Megaport Cloud Enablement Available Cloud Regions aws Microsoft Azure 1HFY21 +23 +12% Total Onramps AWS 46 Microsoft Azure 45 Google Cloud 34 Oracle Cloud 22 EU (Paris) West Central US IBM Cloud 16 EU (Stockholm) Germany Central East US Cloudflare AWS GovCloud (West) 14 West Europe (Amsterdam) East US2 US East (Ohio) North Europe (Ireland) West US Rackspace 11 US East (N.Virginia) Salesforce 10 US West (N.California) US West (Oregon) Alibaba Cloud 8 Canada (Central) Switzerland North Switzerland West Norway East Norway West Asia Pacific (Sydney) Asia Pacific (Hong Kong) Asia Pacific (Singapore) Asia Pacific (Tokyo) Asia Pacific (Osaka) EU (London) EU (Ireland) EU (Frankfurt) 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 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) 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) West US2 Canada East Canada Central US West1 (Oregon) Nutanix 6 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 1HFY21 +11 +10% 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 20,000 Growth in Ports, Services, and Revenue Total Services¹ 7.5 19,278 Total Services Ports 18,145 15,000 16,712 15,531 13,914 12,815 11,561 10,000 10,374 8,735 7,648 6,567 5,000 5,731 746 847 324 365 1,118 504 1,428 641 1,500 736 2,412 2,768 3,264 4,422 5,041 0 1,409 1,479 1,658 1,829 2,064 2,520 2,755 2,259 3,026 3,344 3,668 4,069 4,455 4,863 5,375 5,767 6,333 6,691 June-15 Sept-15 Dec-15 Mar-16 June-16 Sept-16 Dec-16 Mar-17 June-17 Sept-17 Dec-17 Mar-18 June-18 Sept-18 Dec-18 Mar-19 June-19 Sept-19 Dec-19 Mar-20 June-20 Sep-20 Dec-20 MRR growth impacted by movements in foreign exchange rates 6.3 5.7 5.8 5.4 5.0 4.6 4.1 3.6 3.1 2.7 2.4 2.5 2.0 1.8 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 Appendix for details of MRR growth in local currency. June-15 Sept-15 Dec-15 Mar-16 June-16 Sept-16 Dec-16 Mar-17 June-17 Sept-17 Dec-17 Mar-18 June-18 Sept-18 Dec-18 Mar-19 June-19 Sept-19 Dec-19 Mar-20 June-20 Sep-20 Dec-20 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 *MVE is under development with anticipated launch in 2QFY21 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#23BUSINESS UPDATE Megaport Virtual Edge (MVE) MVE Platform Status: • MVE deployed to 11 major metros, with 10 additional metros to be added in H2 FY21 MVE platform availability on target: March 31 . VMWare Velocloud SD-WAN integration underway . Technology Partner pipeline: 50% of SD-WAN market share (source: IHS Markit) Cisco SD-WAN Integration and Service Offering Customer trials underway . Integrated Cisco Viptela service offering availability: 4QFY21 Product launch will be featured at Cisco Live! 2021, Cisco's premiere global conference (30 March to 1 April 2021) יווייוויי vmware® "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 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 &