#1KORE Investor Presentation June 2023 DA *** Tiag SULTATEN TunaLU LUOT 0#2Disclaimers Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. KORE's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," "target" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements relating to the proposed acquisition of Twilio's loT business, its expected consummation and the benefits thereof, statements regarding estimates and forecasts of revenue and other financial and performance metrics, future capital availability, projections regarding recent customer engagements, projections of market opportunity and conditions, the total contract value (TCV) of signed contracts and potential revenue opportunities in KORE's sales funnel, and related expectations. These statements are based on various assumptions and on the current expectations of KORE's management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE's acquired companies, changes in the assumptions underlying KORE's expectations regarding its future business; our ability to negotiate and sign a definitive contract with a customer in our sales funnel; our ability to realize some or all of the Total Contract Value (TCV) of customer contracts as revenue, including any contractual options available to customers or contractual periods that are subject to termination for convenience provisions; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this presentation. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. Industry and Market Data In this presentation, we rely on and refer to information and statistics regarding market participants in the sectors in which KORE expects to compete and other industry data. We obtained this information and these statistics from a variety of publicly available sources, including reports by market research firms and other public company filings. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance. KORE Use of Projections This presentation also contains certain financial forecasts of KORE. KORE's independent auditors have not studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, neither of them has expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. These projections are for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Projections are inherently uncertain due to a number of factors outside of KORE's control. Accordingly, there can be no assurance that the prospective results are indicative of future performance of KORE or that actual results will not differ materially from those presented in the prospective financial information. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information will be achieved. Use of Non-GAAP Financial Measures In addition to our results determined in accordance with GAAP, we believe the following non-GAAP measures are useful in evaluating our operational performance. We use the following non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors in assessing our operating performance. "EBITDA" is defined as net income (loss) before interest expense or interest income, income tax expense or benefit, and depreciation and amortization. "Adjusted EBITDA" is defined as EBITDA adjusted for unusual and other significant items that management views as distorting the operating results from period to period. Adjusted EBITDA margin represents adjusted EBITDA calculated as a percentage of revenue. Such adjustments may include stock-based compensation, integration and acquisition-related charges, tangible and intangible asset impairment charges, certain contingent liability reversals, transformation, and foreign currency transaction gains and losses. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin are intended as supplemental measures of our performance that are neither required by, nor presented in accordance with, GAAP. We believe that the use of EBITDA, Adjusted EBITDA and Adjusted EBITDA margin provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company's financial measures with those of comparable companies, which may present similar non-GAAP financial measures to investors. However, you should be aware that when evaluating EBITDA, Adjusted EBITDA and Adjusted EBITDA margin we may incur future expenses similar to those excluded when calculating these measures. In addition, our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. Our computation of Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate Adjusted EBITDA in the same fashion. Because of these limitations, EBITDA, Adjusted EBITDA and Adjusted EBITDA margin should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. We compensate for these limitations by relying primarily on our GAAP results and using EBITDA, Adjusted EBITDA and Adjusted EBITDA margin on a supplemental basis. You should review the reconciliation of net loss to EBITDA, Adjusted EBITDA and Adjusted EBITDA margin below and not rely on any single financial measure to evaluate our business. "Organic revenue" is defined as GAAP revenues adjusted for the impact of foreign currency exchange and acquisitions and (a) for IoT Connectivity, exclusion of revenue of non-core customers and LTE pricing adjustments and (b) for loT Solutions, exclusion of LTE transition revenue from our largest customer. "Organic revenue growth" and "organic growth" is defined as the year-over- year change in organic revenue divided by organic revenue in the prior period. We have not provided the forward-looking GAAP equivalents for the forward-looking non-GAAP financial measures Adjusted EBITDA, Adjusted EBITDA margin or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, reconciling items including but not limited to stock-based compensation expense, foreign currency loss or gain and acquisition and integration-related expenses. Accordingly, a reconciliation of this non-GAAP guidance metric to its corresponding GAAP equivalents is not available without unreasonable effort. However, it is important to note that material changes to reconciling items could have a significant effect on future GAAP results and, as such, we also believe that any reconciliations provided would imply a degree of precision that could be confusing or misleading to investors. 2#3KORE at a glance Leading global, independent provider of mission critical loT solutions Who We Are Why We Win Key Attributes ● Market leader in enabling end-to-end loT solutions for enterprises Trusted advisor, enabling our customers to Build, Deploy, Manage and Scale their loT solutions Blue chip customer base including market leading Fortune 500 enterprises and innovative solutions providers across high growth verticals such as connected health, industrial loT, asset monitoring, fleet management and comms. services Proprietary IP-based services: IoT Connectivity, Solutions & Analytics ✓ Market leading loT knowledge and experience to help navigate the complex loT ecosystem Global independent loT connectivity and solutions enabler with an integrated network of key partners Deep vertical expertise in our top 3 verticals 190+ Global Scale (as of 3/31/23) 45 Carrier Integrations Countries Coverage 15.0mm Connections 3,600+ Customers Significant Visibility & Profitability¹ 600+ Full-Time Employees $268mm $63mm 2022A Revenue 2022A Adjusted EBITDA 91%+ Annual Recurring Gross Margin 12.7% 2020A-2022A Organic Connectivity Revenue CAGR 1 As reported metrics, unless otherwise noted; 2 Revenue visibility excludes the impact of the Twilio loT business acquisition and is based on the installed base which includes customers which had a signed contract with KORE by the end of 2022, normalized for non-core customers from the acquisitions of Raco and Wyless KORE 95%+ Revenue Visibility Through 2023E² 3#4KORE business model: offering high demand loT services Products Product description Primary pricing method Product line loT Connectivity 66% of 2022¹ 66% of Q1 2023² IoT Solutions 34% of 2022¹ 34% of Q1 2023² loT Connectivity as a Service (CaaS) Connectivity Enablement as a Service (CEaaS) lot Device Management Services IoT Security Location Based Services (LBS) ● ● ● ● ● IoT connectivity services offered through market leading loT platform 'KORE One' Our loT connectivity solutions allow devices to seamlessly and securely connect anywhere in the world across any connected network, which we call our multiple devices, multiple locations, multiple carriers CaaS value prop Connectivity Management Platform as a Service (or individual KORE One engine) Cellular Core Network as a Service (cloud native HyperCore) Outsourced platform-enabled services (e.g., logistics, configuration, device management) Sourcing of 3rd party devices globally, device design and selection services KORE's Security Pro™M SaaS platform KORE's Position LogicTM SaaS platform and LBS APIS Per subscriber per month for lifetime of device (7-10 years and growing) Multi-year contracts with automatic renewals Upfront fee per device or per device per month Per subscriber per month Per subscriber per month Product list is being expanded e.g., through industry pre-configured solutions ¹ Percentage of revenue from all customers (go-forward and non-core) for the year ending December 31, 2022.2 Percentage of revenue from all customers (go-forward and non-core) for the quarter ending March 31, 2023 KORE#5loT use cases are everywhere... deployments are complex M Om 000 200 000 ORYG 900 11 KORE Sample loT use cases Fleet Mgmt. Home Security Offender Trackers Smart City Lighting Systems Quotry Connected Blood Sugar Monitors Connected Gas Tank Monitors Connected Alcohol Monitors Smart Meters Top challenges in loT deployments Inability to contextualize and analyze data Lack of solution deployment planning and experience Lack of in- house lot expertise and resources Fragmented ecosystem requiring multiple partners Risks and pitfalls in loT Security Challenges in interoperability and compatibility Issues in compliance with regulations 5#6Successful loT Deployments Require 7 Key Steps Technology IoT Strategy & End-to-end Security 2 Evaluation, 1 1.1 1.2 1.3 1.4 1.5 1.6 1.7 Business Outcomes / Business Case Security by Design (entire stack) Partner Strategy Proof of Concept Global / Regional Footprint Organizational Governance Business Continuity / Disaster Recovery KORE 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Selection, Dev Architecture Connectivity / Network Strategy lot Platform / Cloud Selection Application Design / Development Device / Module Selection, Validation & Certification Develop, Test, Prototype & Pilot Deployment Process Design 3.1 3.2 3.3 3.4 3.5 3.6 3 3.7 Delivery: Connectivity, Device & Data Management Network(s) Selection / Carrier Contract Secured Data Exchange Subscription Lifecycle Integration Usage Optimization & Fraud Mgmt. Sales & Distribution Setup Device Management, Diagnostics & Troubleshooting Deployment Setup & Optimization 4.1 4 (forward logistics) 4.2 4.3 4.4 4.5 4.6 4.7 KORE Internal Deployment Forecast Management Supply Chain and Inventory Management Order and Configuration Management Forward Logistics / Shipping Global Import / Export Management Quality Management (ISO 13485, 9001) Site Services Operations 5 Management & Support 5.1 5.2 5.3 5.4 5.5 5.6 5.7 Technical Support Tier 1 & 2 Tier 3- Network & Systems Support Remote Device Management Network Management & Orchestration MDM Platform Management Regulatory Compliance Change Management KORE & Partner Hybrid Partner 6.1 6.2 6.3 6.4 6.5 6.6 6.7 Sustainment 6 (reverse logistics) Asset Management Site Maintenance Reverse Logistics / Asset Recovery Advanced Exchange OEM Warranty Management Migration Services End of Life Management 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7 Analytics & AloT Data Cleansing & Normalization Data Storage, Retrievals & Replays Data Contextualization & LBS Data Visualization AloT - Descriptive, Prescriptive, Predictive Security & Deep Network Monitoring using Metadata Applicati Integration & Device Feedback 6#7Customer case study: Customer #1 Customer #1 is a multinational medical devices company. KORE works with the cardiac monitoring (pacemakers and related devices) division, which is a market leader in this line of products. It has been KORE's customer for >10 years. ((app)) ● ● Load in night verticle Implanted pacemaker Cardiac Device ●●●● Bedside Monitor KORE Solution: IoT enablement of cardiac devices Helped design a custom connectivity device which works with a large number of cellular networks globally; contracted manufacturing with a global contract manufacturer ... KORE is an extension of the customer's supply chain, configuring & handling 200-300K devices per year (growing 20%+ year) with facilities which are: ✓ ISO 13485 / 9001 certified ✓ FDA Registration 21 CFR Part 820 compliant ✓ HIPAA (U.S.) and GDPR (EU) compliant KORE ● ● KORE CaaS ● ●●●● Physician Portal KORE global connectivity Provided a global connectivity package to provide connectivity across a large number of countries Acting as a trusted advisor for customer with transition of 2G/3G devices to LTE (in 2021/22) • Almost 1 million subscribers and growing fast, leading to significant CaaS revenue stream for 7-10 years per device Upsell to eSIM highly likely given global footprint of services 7#8Customer use case: Cardiac rhythm monitoring KORE's solution enables global deployment and management of regulated medical equipment 5 7 Analysis & 1.1 1.2 1.3 1.4 1.5 1.6 1.7 IoT Strategy & End-to-end Security Business Outcomes / Business Case Security by Design (entire stack) Partner Strategy Proof of Concept Global/Regional Footprint Organizational Governance Business Continuity / Disaster Recovery KORE 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Technology Evaluation, Selection, Dev Architecture Connectivity / Network Strategy lot Platform/ Cloud Selection Application Design/ Development Hardware Customization, Certifications - Gen 9 Develop, Test, Prototype & Pilot Deployment Process Design 3.1 3.2 3.3 3.4 3.5 3.6 3.7 Connectivity Device & Data Management Network Design Roaming Footprint Updates Secured Data Exchange Subscription Lifecycle Integration Wireless Managed Services Hierarchical Account Setup & Management Device Management, Diagnostics & Troubleshooting Deployment Setup & Optimization 4.1 4.2 4.3 4.4 4.5 4.6 4.7 Delivery: Deployment (forward logistics) Demand Forecast Supply Chain Order Management Patient Order Desk Firmware Validation Software Load Remote Config Updates Supply Chain Management & Global Documentation Site Services Global Import / Export Management- Direct-to-Patient/DC Packaging/Labeling Final Testing & Validation Recording Track & Trace 5.1 5.2 5.3 5.4 5.5 5.6 5.7 Operations Management & Support Technical Support Tier 2 Tier 3 - Network & Systems Support Regional Outage Monitoring & Escalation Quality Management ISO 13485 KORE Service Delivery FDA Title 21 Part 820 EU MDD/MDR WEEE 2012/19/EU HIPAA/GDPR OPCO Billing Reconciliation & Reporting Change / Release Management 6.1 6.2 6.3 6.4 6.5 6.6 6.7 Sustainment (reverse logistics) Advanced Manage Services Migration Planning and Implementation Returns Handling Sanitizing, Testing FDA Reporting Advance Exchange / Site SWAP Maintenance OEM Warranty Management End-of-Life Management 7.1 7.2 7.3 7.4 7.5 7.6 77 Optimization Data Cleansing & Normalization Data Storage, Retrievals & Replays Data Enrichment & Contextualization Data Visualization AloT-Descriptive, Prescriptive, Predictive Security & Deep Network Monitoring using Metadata Transmission/Outage Analytics/Alerting 8#9KORE is well positioned in the early innings of an exciting growth opportunity in loT 2025 IoT Market ($bn) Devices (bn) 12% 10% 2020 $382B $78B $35B 12% $269B 40% 26% Connected Devices = 22 billion 18.9% CAGR IoT Devices = 12 billion Applications & Platforms 15.8% CAGR 5% $250B $906B $48B 10% ■Managed Services 21% $608B 7% 57% Connected Devices = 37 billion 50.5% CAGR ■ Connectivity TVs 24.6% CAGR lot Devices = 25 billion M2M loT Smartphones Other PC / Tablets Source: GSMA (loT Revenue: State of the Market 2020); Ericsson (Mobility Report 2020); Cisco Annual Internet Report Highlights Tool 2020; IDC (Worldwide 5G Connections Forecast, 2019-2023) and KORE Forecasts KORE ~$7 Trillion 2% 2030 5% 3% 12% 78% Connected Devices = 91 billion lot Devices = 75 billion 9#10KORE's five focus industry sectors, representing 80%+ of the loT market, are growing fast 5G will drive significant new use cases in mission critical applications across KORE's target industries Industry Vertical 2020P-2025P Market CAGR Internet of Things Use Cases KORE. Assets KORE. Industrial Communication KORE Services KORE. Connected Health KORE. Fleet 34.2% 29.4% 22.4% 17.5% 17.3% Source: ABI Market Tracker, Market Research Future, Grand View Research and KORE Forecasts KORE Home / Business Security Smart Utilities / Meters loT & Consumer service providers Remote Patient Monitoring Stolen Vehicle Recovery Offender Tracking Smart Cities / Buildings ا۔ Carrier loT Business Units Clinical Trials Fleet Tracking / Telematics Alcohol Monitoring La Smart Factories Enterprise Connectivity Medical Alert Monitoring N Usage Based Insurance Critical Asset Management Industrial IoT Private Networking Medical Equipment Diagnostics Connected Car 10#11Positioned for the Decade of loT As the only Pure-Play loT Company Strategy for "KORE 3.0" finalized Transformation program and investments approved One Team KORE; high-performance culture Phase 1 Foundational Phase 2 Acceleration Phase 3 Leadership KORE 2018 - 2022 Begin transformation of connectivity proposition / platform Integrate acquisitions including Aspider, bring eSIM to market Launch loT Solutions & Managed Services 04 Acquisition/integration of Integron; launch of loT managed services Launch KORE One & LPWA offering Introduce intelligent network monitoring eSIM industry leadership Pre-configured Solutions Industry GTM (2 of 5 sectors launched) 5G innovation 1 I I 1 I I I I I 000 DODOO DOODO 2023 Launched Analytics P&L Line with GCP Partnership Acquisition of Twilio's loT business adding Build services (to be completed) OmniSim ™M SAFE using AWS loT Core Evolution Roadmap Introduce MODGO SaaS solution 2026 Broadened industry sector (all 5 or more focus sectors) expertise with pre-configured solutions Massive loT 5G, edge analytics off KORE One platform 200 2030 Healthy revenue mix connectivity / solutions / analytics Accelerating 5G adoption Lead with the promise of "Al + loT" Edge compute maturity 11#12KORE's Acquisition of Twilio's loT Business Creates loT Hyperscaler Transaction Overview KORE signed a definitive agreement to acquire Twilio's loT division to accelerate its growth strategy, and focus on offering customers a unified, seamless method of launching loT services Twilio received 10mm shares of KORE common stock (~11.5% of issued and outstanding shares); closed June 1, 2023 Combined entity will be the largest independent provider of loT connectivity outside of China, with only five large Mobile Network Operators having more connections KORE OmniSIM™ IoT Managed Services & pre-configured industry solutions KORE Hypercore Developer Portal for loT community White-glove experience Strategic Rationale ✓ Add strong capabilities for digital consumption of loT ✓ ✓ Market expansion to developer community ✓ Digital solution to customer connectivity procurement $15mm of savings to Build capability internally and 2-year time to market Strong human capital talent KORE Addition of new types of Connectivity customers, particularly in the high- upside "connected product" space Strong synergies via the combination of KORE OmniSIM and Twilio Super SIM to create market-leading loT connectivity product Twilio's investment in Device Builder helps add "Build" capability Expands KORE's one-stop-shop for the lot lifecycle One-stop Solution to Build, Deploy, Manage and Scale Super SIM Device Builder Cloud Native Core Digital experience Web-console Combined Company Highlights 8 twilio Faster growth vs. KORE stand-alone Twilio loT business brings recurring Connectivity revenue Expected 50% gross profit margin on Twilio's loT business 12#13Successful Track Record of Leadership and Innovation KORE is the only pure-play loT solution company -1.5M devices KORE 1.0 Establishing loT Pioneer (2003 - 2013) Founded in 2003 Early machine-to-machine focus Established North America market position with AT&T and Rogers Launched first generation loT platform PrismPro KORE 3M devices KORE 2.0 Building Global Scale (2014 - 2018) Global geographic expansion Key acquisitions wyless Enabling Global IoT ASPIDER-NGI Expansion into different verticals and use cases Continuous development of product portfolio (location-based services, eSIM capability) Global ecosystem of channel partners ~15M devices *** 0₂ KORE 3.0 Positioned for Growth (2019-2022) Connectivity powered by KORE One: Advanced connectivity, global eSIM, core network & loT MVNE Solutions delivered via comprehensive set of loT deployment and managed services in healthcare, life sciences, asset management, fleet, and industrial Analytics including Data Transformation as a Service (DTaaS) and loT security Application Enablement leveraging API-based platform Key Acquisitions enabling managed services capabilities and unique value offering highly regulated spaces BUSINESS PARTNERS INTEGRON BMP MOBILITY SIMON IOT -15M+ devices **.... Auck T u KORE 3.0+ Acceleration & Leadership (2023 and Beyond) Established Vertical Experience with Connectivity, Solutions and Analytics Enhanced Worldwide connectivity with eSIM One-Stop-Shop for enhanced customer experience Build, Deploy, Manage and Scale for loT lifecycle Unparalleled managed services & customer excellence Hyperscaler Integrations with AWS and Google Cloud Key Acquisition enabling enhanced worldwide connectivity and Digital Experience for faster time to market twilio loT Business Unit 13#14Why Invest In KORE? 1 2 3 4 KORE is the Only Public loT Pure-Play KORE's singular focus is on helping customers adopt loT. We simplify the complexities that have held loT back, and we help our customers Deploy, Manage and Scale their loT use cases. KORE orchestrates the IoT ecosystem, and provides loT connectivity, solutions, and analytics services. Exceeding Financial Targets KORE has met or exceeded its financial targets in five consecutive quarters since going public in October 2021. As a result, KORE exceed its $457MM revenue forecast for 2021-22 by $60 million. Significant Recurring Revenue Approximately 85% of KORE's revenue is recurring. KORE's loT Connectivity customers may have thousands of devices deployed for multiple years with high switching costs. Accelerating Long-Term Organic Growth KORE is targeting 12% to 15% revenue growth in 2023, a mid-to-high teens growth rate in 2024, positioning KORE to be a 20% top line grower with an EBITDA margin in excess of 20% by 2025 (Rule of 40). KORE 5 6 7 Diverse Revenue Base KORE serves over 3,600 customers with over 90% of revenues derived from the top 300 customers and only one customer accounting for a low-double digit percent of total revenue. Well Positioned In Growth Industries like Connected Health KORE's Connected Health vertical accounts for approximately 40% of total revenue; Fleet is over 15% and combine with Industrial IoT, Asset Monitoring and Communications Services Providers & Retail, KORE targets industries with over 80% of the loT spend in the marketplace today. Strong Competitive Moat The company's strong portfolio of intellectual property and its 45 carrier integrations provide KORE with a competitive moat that is difficult for competitors to replicate. 14#15KORE Financial Overview#16Long-Term Organic Growth KORE $130.5 FY2020A $73.7 FY2020A IoT Connectivity Organic Revenue 2020A-2022A CAGR: 12.7% $151.6 FY2021A IoT Solutions Organic Revenue 2020A-2022A CAGR: 7.4% $77.7 FY2021A $165.7 FY2022A $85.1 FY2022A ● Commentary KORE has experienced strong organic growth since 2020 IoT Connectivity growth has been driven primarily by existing customers loT Solutions growth has been driven by the organic growth of Connected Health revenues Organic growth is expected to continue / accelerate and is supported by an enhanced new business opportunity pipeline and long-term market tailwinds KORE continues to target, on an unadjusted basis, mid-to-high single-digit organic growth in 2023 and double this growth in 2024 when we do not have the ~$24 million headwind KORE is positioned to be a 20% top line grower with an EBITDA margin in excess of 20% by 2025 (Rule of 40) 16#17Breakdown of Long-Term Organic Growth Total Revenue as Reported Less: Non-Core Customers Total Revenue (w Non-Core) A Less: Constant Currency Adjustment Total Revenue (w Non-Core & CC Adj.) Less: LTE pricing adj. D Total Revenue (w Non-Core, CC Adj., & LTE) Add: BMP Proforma E Total Organic Revenue A B D E IoT Connectivity FY2020A KORE Total $158.8 ($21.2) $137.6 ($1.7) $135.9 ($8.2) $127.7 $2.8 $130.5 FY2021A Total $169.0 ($15.8) $153.2 ($3.2) $150.0 ($4.8) $145.2 $6.4 $151.6 FY2022A Total $175.9 ($11.2) $164.8 $0.2 $164.9 ($0.8) $164.1 $1.6 $165.7 Total Revenue as Reported Less: #1 Customer LTE Transition B Total Revenue (w Non-Core) Less: Constant Currency Adjustment Total Revenue (w Non-Core & CC Adj.) Add: BMP Proforma E Total Organic Revenue IoT Solutions FY2020A Total $55.1 $0.0 $55.1 ($0.4) $54.7 $19.1 $73.7 FY2021A Total $79.4 ($23.6) $55.8 ($1.5) $54.4 $23.3 $77.7 FY2022A Total $92.5 ($11.5) $81.0 ($0.0) $81.0 $4.1 $85.1 Organic Revenue Adjustments Includes acquired customers that have left over time due to technology sunsetting over the last 3 years Reflects the removal of significant one-time revenue in 2021 and 2022 for the company's largest customer's loT Solutions revenue related to their LTE transition project Maintained flat currency rates YoY Adjustment to remove the effect of pricing difference between 2G/3G and 4G/5G by adjusting prior years to reflect 4G/5G pricing Reflects proforma impact of BMP normalized revenues from 2020 to Q1-22 (transaction close) 17#18Q1'23 financial performance Revenue (In millions USD) loT Connectivity loT Solutions Total revenue Gross Margin % loT Connectivity loT Solutions Overall Gross Margin % Period End Connections Average Connections Count for the Period DBNER KORE (Unaudited) Three Months Ended March 31, 2023 Revenue $43.5 22.4 $66.0 65.2% 32.4% 54.0% % 66% 34% 100% 15.1 million 15.1 million 107% 2022 Revenue $44.1 24.8 $69.0 61.7% 26.0% 48.9% % 64% 36% 100% 15.3 million 15.1 million 122% 18#19Reconciliation of Net Loss to EBITDA, Adjusted EBITDA Three Months Ended March 31, (In millions USD) Net loss Net loss margin Income tax benefit Interest Expense Depreciation & Amortization EBITDA Change in FV of warrant liabilities (non-cash) Transformation expenses Acquisition and integration-related restructuring costs Stock-based compensation (non-cash) Foreign currency loss (non-cash) Other Adjusted EBITDA Adjusted EBITDA Margin Columns may not sum due to rounding KORE 2023 ($18.5) (28.0%) (0.4) 10.2 14.1 5.5 (0.0) 1.9 3.2 2.6 0.1 0.1 13.3 20.2% 2022 ($11.6) (16.8%) (2.2) 6.6 13.2 $6.0 (0.0) 1.6 5.3 2.1 (0.0) 0.4 $15.3 22.2% 19#20Summary Messages and 2023 Outlook Expanded Q1'23 gross margin over 500 basis points vs. Q1'22 Added $28 million of TCV in Q1'23 $300-310mm KORE * Includes the acquisition of Twilio's loT business as of June 1, 2023 2023 Revenue Outlook Increased Global Sales Pipeline to over 1,400 Opportunities Well Positioned for Growth and Value Creation Recession resistant with 80%+ Recurring Revenues Positioned in high-growth end markets such as Connected Health $60-62mm 2023 Targeted Adjusted EBITDA 20#21KORE Key Company Highlights#22Connections (Millions) loT market is accelerating, driven by significant tailwinds for the next decade loT connections by technology 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 2020 eSIM revenue ! $0.9B generated in 2024 2021 I 2022 Low-Power Wide- 2.7B Area Connections by 2025 eSIM Adoption 2023 I 1 2024 of total mobile 45% data over 5G networks Massive loT Powered by LPWA 2025 2026 5G at scale 2027 2028 2029 2030 Broadband & Critical loT (4G/5G) Massive loT (Licensed LPWA - NBIOT & CAT-M) Legacy (2G/3G) Unlicensed LPWA and Satellite Short-Range loT (WiFi, BT, Z-Wave) 1 ● ● KORE CaaS (¹) Licensed - Unlicensed CEaaS (2) Satellite CNaaS CMPaaS PNaaS IoT Solutions (3) Managed Services Analytics IoT Solutions (3) Managed Services Analytics - - Source: Cisco Annual Internet Report Highlights Tool 2020, GSMA (loT Revenue: State of the Market 2020); Ericsson (Mobility Report 2020), KORE Forecasts Note: (1) CaaS = Connectivity as a Service managed connectivity services offering for connecting loT device; (2) CEaaS = Connectivity Enablement as a Service - includes managed Core Network as a Service (CNaaS), Private Networking as a Service (PNaaS) and Connectivity Management Platform (CMPaaS); (3) loT Solutions = loT managed services including loT product design, supply chain, configuration, connectivity, and reverse logistics for customers KORE 22 1 1 1 1 I#23Leading offering, backed by extensive IP, creates sustainable competitive moat Comprehensive mission-critical loT solution set Connectivity IoT Solutions KORE ● e 45 carrier integrations 7 engine KORE One platform ConnectivityPro service and related APIs eSIM technology stack/ proprietary IP Hypercore technology Deep industry vertical knowledge and experience Connected Health - FDA, HIPAA, ISO 9001/13485 Fleet Management - SaaS product and APIs, video bundle Unmatched breadth of solutions and analytics services SecurityPro network intelligence service Asset management, mobile data management, logistics services Network certification expertise 3,400+ connectivity-only customers for cross-sell KORE's loT in a Box creates high switching costs 2 3 Technology Evaluation, Selection, Dev. Connectivity, Device & Data Management KORE Sustainment (Reverse Logistics) 6 1 IoT Strategy & End-to-End Security Operations Management & Support 5 4 Deployment (forward logistics) Analysis & Optimization 7 KORE delivers 44 of the 49 steps required to deploy an loT Solution 23#24Strong Recurring Revenue, Gross Profit, and Earnings Profile that is Resilient to Macroeconomic Cycles 87.3% Q1 2021A 91.2% Q1 2021A KORE 83.2% Q2 2021A 90.2% 70.4% Q3 2021A 85.1% 78.3% Recurring Revenue¹ Average: 82.3% 75.5% Q4 2021A 92.4% Q1 2022A 85.2% 89.6% Q2 2022A Recurring Gross Profit² Average: 91.4% 92.1% Q2 2021A Q3 2021A Q4 2021A Q1 2022A 1 Recuring revenue includes all loT Connectivity and Analytics revenue along with programmatic loT Solutions revenue 2 Represents gross profit from only recurring revenue Q2 2022A 88.0% Q3 2022A 94.7% Q3 2022A 90.8% Q4 2022A 96.6% Q4 2022A 83.5% Q1 2023A 90.4% Q1 2023A 24#25Well-diversified Revenue Across Blue-chip Customer Base with Truly Global Coverage No customer represented more than 6.0% of total gross profit for 2022 Outside of Customer 1, a KORE customer for 10+ years, and Customer 2, no customer contributes more than 4.0% of total revenue Customer 1's revenue contribution in 2022 is elevated due to a large LTE transition project, which is now complete Excluding the large LTE transition project, Customer 1 was ~7.0% of 2022 revenue ● ● Revenue by Customers¹ 63.7% Customer 1 Customer 3 ■Customer 5 1 As of 12/31/2022 KORE 11.1% 8.3% 9.2% 3.3% 2.2% 2.1% Customer 2 Customer 4 Customers 6-10 Cross-Selling Among Top 10 Customers¹ 30.0% 40.0% ■1 Solution ■2 Solutions 30.0% ■>2 Solutions Serving Customers Across Recession Resilient Markets¹ 17.2% 42.3% 13.0% 10.9% 16.6% ■ Connected Health Fleet Management ■Asset Monitoring ■ Communication Services Industrial loT & Other Revenue by Region¹ 21.2% ■ US Customer 1 & 2 represent 6.0% and 4.8% of total gross profit, respectively, for 2022 78.8% Rest of World 25#26Long track record of customer retention LTM dollar-based net retention rate ("DBNER")¹ ● Existing customer base stickiness demonstrated by DBNER Short-term revenue bump from large LTE Transition Program at our largest customer temporarily impacting DBNER growth until anniversaried and no longer included in the DBNER calculation 103% Q2 2020 103% Q3 2020 106% Q4 2020 108% Q1 2021 113% 112% Q2 2021 DBNER 114% 110% 122% 115% 122% 114% 114% Q3 2021 Q4 2021 ■DBNER excluding largest customer Q1 2022 109% Revenue impact from the significant LTE Transition Program at our largest customer Q2 2022 100% 106% 92% Q3 2022 103% Q4 2022 Source: Company financials (1) DBNER is calculated by dividing trailing twelve-month revenue by prior year trailing twelve-month revenue for the same customer cohort in both periods. Excludes revenue from both non go-forward customers, and new customers that started generating revenue after the end of the base period KORE 107% 126% Q1 2023 26#27Global Sales Pipeline as of March 31st, 2023 KORE Sales Funnel ............. Qualification & Technical Evaluation Stage Proposal Stage Contract Signed Stage Beta Site Stage Closed Won Total 1,446 Opportunities $501 million TCV Total Closed Won $28 million TCV 27#28Current Capitalization Coll ($mm) Cash $30mm Revolving Credit Facility 1st Lien Term Loan B 1st Lien Debt Unsecured Convertible Notes Capital Lease Obligations Total Debt Credit Statistics LTM 3/31/2023 Adj. EBITDA³ Net 1st Lien Leverage Net Total Leverage 3 As of 3/31/23 $31 302 $302 120 2 $424 $61 4.5x 6.5x Net Levg. 4.5x 6.5x Maturity 24-Sep 24-Dec 28-Sep Rate S+550² S+550 5.50% Floor 0.00% 0.00% 1 1 Ratings¹ B2/B B2 / B NR / NR NR / NR Corp: B3 / B- 1 Ratings as of May 9th 2S+ 550 bps + 10 bps CSA, subject to one 0.25% stepdown upon achievement of Total Leverage Ratio of 5.00x; 50 bps undrawn fee, with stepdown to 37.5 bps at 1st Lien Net Leverage Ratio < 4.50x 3 Reported Adj. EBITDA KORE 28#29KORE Appendix#30KORE is the only pure play loT enabler Enterprises KORE'S customers deliver end-to-end industry solutions. Unencumbered by solution management and deployment complexities, these customers can focus on their end customer experience KORE KORE fully delivers 44 of the 49 steps required to deploy an loT Solution, and partners with others to deliver another 5 steps. KORE can help manage partners who will be accountable for the remaining 5 areas to provide a holistic loT solution KORE IoT Applications Analytics Visualization IoT & Enablement Onboard Configure Monitor Manage Secure Deployment & Edge Device Management 30#31KORE's Technology Stack Enables loT Services Pre-configured Solution IP KORE HyperCore & eSIM IP KORE Billing 8 FTB Enterprise / Solution Provider Applications KORE One Interface (User experience via UI, API, Dev Portal) Platform Functions Analytics Carriers KORE One Streaming Integration KORE One Aggregator «¤ SIM, ESIM, ISIM ☎ lot Devices / Other Devices Network Intelligence Enterprise Apps ((())) द Services Global Connectivity powered by OmniSIM™ Pre-activated SIMS or eSIMs/eUICCs provides complete flexibility with Reach & Rush Security and Network Intelligence Deep network traffic inspection and anomaly detection in traffic patterns Comprehensive Data Management Services Harness all levels of loT data, including sensor data, meta data and usage data KORE QUICC Connected Health Services Secured Encrypted Data delivery from peripherals to the Health Systems with continuous device health monitoring Fleet / Asset / Location Based Services Tracking, alerting and events to provide visibility of an asset via data streaming 31#32Intellectual property designed to enable customer outcomes Hardware ((.. Connectivity Data Processing Services KORE • ● ● • 5G ● ● loT Starter Kits SIMS Routers loT Data Broker ● • Analytics Tools ● LoRa LTE • Native Hyperscaler Cloud Integration • Logistics Operations Management Sustainment Edge KORE One Services Global Connectivity Security and Network Intelligence Comprehensive Data Management Services Connected Health Services Location Based Services Accessible via Pre-Configured Solutions or API Integration Dev Ecosystem Developer Portal IP Whitelisting Help Guides API Analytics Client Management Public Rest APIs Streaming APIs Outcomes Customer Outcomes End-to-end loT Solutions Hyperscaler Integration Mobile Apps Back Office Integration End Users 32#33KORE's comprehensive offering is without peer in today's market Connectivity Solutions Analytics 1 I KORE Wireless MNOS AT&T Verizon T-Mobile loT Connectivity Multi-Region Aeris Wireless Logic Device Management services Ingram Flex Location-Based Services GPS Trackit Fleetmatics GPS Insight Geotab Security / Network Intelligence Twilio Rev.io Thingworx Application/End Use Cases Hyperscalers Microsoft Azure AWS KORE IoT Strategy & End-to-End security Technology, Evaluation, Selection, Dev Connectivity, Device & Data Management AT&T Verizon T-Mobile Deployment (forward logistics) Operations Management & Support Sustainment (reverse logistics) Analysis & Optimization 33#34Key Highlights 1 loT market is accelerating, driven by significant tailwinds for the next decade 2 Leading loT offering, backed by extensive IP, creates sustainable competitive moat 3 Well-diversified customer base 4 Highly recurring revenue with long term visibility 5 Long track record of customer retention KORE 34