#1KORE First Quarter 2022 Earnings Presentation May 16, 2022 ..... Ⓒ2022 KORE#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," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. 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, including Business Mobility Partners Inc. and SIMON IOT LLC; changes in the assumptions underlying KORE's expectations regarding its future business; 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 press release. 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. Trademarks This presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM, © or ® symbols, but KORE will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. 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. 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 and Adjusted EBITDA 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 and Adjusted EBITDA 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 and Adjusted EBITDA 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 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 and Adjusted EBITDA 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 and Adjusted EBITDA on a supplemental basis. You should review the reconciliation of net loss to EBITDA and Adjusted EBITDA below and not rely on any single financial measure to evaluate our business. We have not provided the forward-looking GAAP equivalents for the forward-looking non-GAAP financial measure Adjusted EBITDA 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. Ⓒ2022 KORE 2 ● ● ● ● ● ● ● ● ● • ● ● ● ● ● ● ● • ● ● ● ● ● 0 ● ● • ● ● ● 6 ● ● ● ● ● • ● • • e ●#3.............. ...................... ............... ....................... .............. Objectives of Our Earnings Call ....... ...... .............. ............... ...... KORE Provide financial performance overview ▶ Continue to educate the market and investor base about our unique, loT Pure Play company - this call will focus on our Connected Health vertical Answer analyst and investor questions Ⓒ2022 KORE 3#4KORE KORE Powering the Interne Things NO 100 Summary - Q1 2022 Earnings & 2022 Outlook ● ● ● ● Q1 2022 vs. Q1 2021 Total revenue of $68.9 million vs. $55.3 million (+25%) IoT Connectivity of $44.1 million vs. $40.7 million (+8%) IoT Solutions revenue of $24.8 million vs $14.6 million (+70%) Net loss of $10.9 million, or $0.15 per share vs. $1.1 million, or $0.27 per share DBNER was 122% vs. 108% Adjusted EBITDA of $15.6 million vs. $16.4 million (-5%) 2022 Outlook Reiterating 2022 Revenue Outlook of $260-265MM KORE's two-year stack revenue for 2021-22 is forecast at $508-$513MM compared to the forecast of $457MM provided in our 'go public' model Adjusted EBITDA, a non-GAAP metric, of $63-64MM representing -24% margin Ⓒ2022 KORE 4 ● ●● ●● ● .. ● ● ● ● ● ● ● ● ● ● . • ● e ... 0 .. ●#5Customer loT Journey loT Strategy & End-to-end Security 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 2 Technology Evaluation, Selection, Dev Architecture loT 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 3.7 3 loT Connectivity, Device & Data Management Network(s) Selection / Carrier Contracts Secured Data Exchange Subscription Lifecycle Integration Usage Optimization & Fraud Mgmt. Hierarchical Account Setup & Management Device Management, Diagnostics & Troubleshooting Deployment Setup & Optimization 4.1 4.2 4.3 4.4 4.5 4 Deployment (forward logistics) 4.6 4.7 Forecasting Order Management Configuration Management Supply Chain Management Site Services Global Import/ Export Management Asset Management 5 Operations 5.1 5.2 5.3 5.4 5.5 5.6 5.7 Management & Support Technical Support Tier 1 & 2 Tier 3 - Network & Systems Support Network Mgmt. & Orchestration Quality Management (ISO 13485, 9001) Regulatory Compliance Endpoint / Subscription Management Change / Release Management Delivery: KORE Internal KORE & Partner Hybrid Partner 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6 Sustainment (reverse logistics) Advanced Managed Services Migration Services Returns Management / Asset Recovery Advanced Exchange Site Maintenance OEM Warranty Management End of Life Management 7.1 7.2 7.3 7.4 7.5 7.6 7.7 7 Analysis & Optimization Data Cleansing & Normalization Data Storage, Retrievals & Replays Data Enrichment & Contextualization Data Visualization AloT- Descriptive, Prescriptive, Predictive Security & Deep Network Monitoring using Metadata Application Integration & Device Feedback Ⓒ2022 KORE 5 ● ● ● ● ● ● ● ● ● ● .. ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● • • ● • ● ● ●#6Building a Pure Play loT Company Horizontal Capabilities KORE Current KORE Connected Health and loT-enabled Clinical Drug Trials Strategy & Security Connected Health 1 2 Technology Selection Connectivity, 3 Device & Data Management Deployment (Fwd. Logistics) 4 5 Operations Management Sustainment (Rev. Logistics) 7 Analytics and KORE Fleet Fleet Management, Telematics, Connected Car, SVR, UBI Industry Sectors/Verticals Future KORE Assets Remote Monitoring, Home/Business Security, Offender Tracking Regional GTM: Americas, EAP KORE Communication Services Connectivity Resellers, Failover/Primary, PaaS KORE Industrial lloT, OEMs, Smart Cities, Smart Utilities etc. IoT Strategy, End to End Security & Technology Selection (a) Connectivity as a Service (SIM/eSIM/iSIM) *Connectivity Management Platform-aaS; Core Network-aaS; Private Network-aaS **Location Based Services (b) Connectivity Enablement as a Service (CMPaaS/CNaaS/PNaaS*) IoT Managed Services (Forward/Reverse Logistics, Operations) Analytics - LBS** / Usage / Security Pro Network Intelligence / Store & Forward Advanced Advancing Ⓒ2022 KORE 6 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● . ● ● • • ● e ●#7Connected Health Market Overview The global Connected Health and Wellness Devices market will exceed $500 billion by 2024. KORE's credentials in Connected Health will drive market share in an expanding market. • ~60% of healthcare organizations that adopted loT realized cost savings, increased revenue visibility, and improved patient outcomes. Total Connected Medical Devices Globally (in millions) 450.0 2020 2022 586.6 2024 700.0 Healthcare 70 60 50 40 30 20 10 0 Connected RPM Devices by Connectivity Type (in millions of devices) 60.5 Cellular 51.0 4.2 2020 2021 2022 2023 2024 2025 2026 Fixed BYOD Number of Registered Clinical Studies, Global Adoption of Connected Devices 2001 2008 2015 Life Sciences 2022 $29.0 Contract Research Organization (CRO) Market Worldwide (in billion US dollars) $46.7 2015 2017 2019 2021 Key Use Cases: Cardiac Rhythm Monitoring Chronic Disease Management Medical Equipment Diagnostics KORE Data Sources: 2020 Berg Insight, 2021 IDC Worldwide Global loT Device and Data Forecast, McKinsey & Company - The Internet of Things: Catching up to an accelerating opportunity. November 2021 Key Use Cases: Clinical Trials with Electronic Data Capture (EDC) Clinical Trials with Digital Biomarker Telemetry $62.2 2023 ©2022 KORE 7 ● ● • .. .. 0 ● ● ● ● ● ● ... • 0 .. ●#8Connected Health Challenge Patient / Trial Participant KORE ......... "Just need the data!" ....... Healthcare Application Ⓒ2022 KORE 8 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● • • ● 0 ● ● ●#9Connected Health Challenge Patient / Trial Participant KORE "Just need the data!" Middleware DevOps Hardware Selection & Validation Integrated Sensor Library Lifecycle Management Encryption Regulatory & Compliance Procurement & Logistics Connectivity Global Deployment BLE Pairing Device Management It's harder than it looks Healthcare Application Ⓒ2022 KORE 9 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● • • ● 0 ● ● ●#10Connected Health Challenge Patient / Trial Participant KORE Hardware Sourcing KORE Bridges the Gap (((9²)) IXX N Device Integration & Management 867 KORE Connected Health Solution Global Configuration/ Connectivity Logistics 600 Secure Data Telemetry Healthcare Application Ⓒ2022 KORE 10 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● • • ● 0 ● ● ● ● ●#11Connected Health Trends: Chronic Diseases Treatments $43.4 Prediabetes KORE Healthcare loT Treatment Costs ($B) $49.0 COPD $53.0 $81.8 Data Sources: Optimize Health 2021, CDC $91.4 Heart Failure Chronic Kidney Hypertension Disease $327.0 Diabetes Chronic Diseases in America Americans w/o Chronic Condition 40% 20% Americans w/ 1 Chronic Condition 40% Americans w/ 2+ Chronic Conditions, 40% Ⓒ2022 KORE 11 ● ● .. ● • ● ● ● .. ● ●● ● ● ● ● e ● ● ● ● ● ● ● ● ● • ● ● ● e ● ● ● ●#12Connected Health Trends: Medical Device Monitoring Home Therapy Medical Device Monitoring • Medical OEMs with mature and defined therapies for specific disease states are looking to rapidly enable loT to improve efficiencies and expand healthcare. KORE's Connected Health solutions require forward and reverse logistics, device configuration and providing, compliance, and secure reliable connectivity KORE 02 20.0 100 CLEM Infusion Pump Congestive Heart Failure Wome to your hea Liberty Select unilect with stay-safe O Dialysis Cycler PHILIPS Medication Dispenser BUDE b Oxygen Concentrator Ⓒ2022 KORE 12 ● ● ● ● ● ● 0 ● ● • ● ● .. ● ●● ● ● ● ● ● ● • ● ● ● e ● ● ● ●#13Connected Health Trends: Clinical Trials Clinical Trials Trend 1 Transition to Electronic Data Capture from Study Participant Data Input Clinical Trials Trend 3 Building From Trends 1&2, There Is Now A Rapid Movement To Decentralized Trials, Which COVID-19 Accelerated KORE Clinical Trials Trend 2 Incorporating Digital Biomarker Data Capture Into Study Data Analysis. Driving Increase in Clinical Trials Sensors 28% *Data Sources: 2020 Berg Insight, Optimize Health 2021, Veeva Digital Clinical Trials Survey Ran DCT's Before COVID Decentralized Trial Adoption (base respondents, N=289) 95% 87% 11 Currently Use DCT's or Plan to Use in 12-Months Up to 70% of Clinical Trails Will Incorporate Sensors by 2025* Plan to Increase Use Of DCT's in the Next Twelve Month Ⓒ2022 KORE 13 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● . . ● ● ● ● ● ● ● • ● • ● ● ● ● ● ●#14Connected Health Go-To-Market Strategy Industry Sector Industry Segment Use Cases KORE Remote Patient Monitoring (RPM) Cardiac Rhythm Monitoring Chronic Disease Management (CHF, COPD, Diabetes, etc.) Telemedicine (Consultation Enablement) Healthcare Medical Equipment Diagnostics Home Medical Device OEM (Dialysis, Respirator / Oxygen Concentrator, INR Meters) Clinic Medical Device OEM (Radiography, Ventilator, Anesthesia Pumps) CPAP/Sleep Therapy Medical Alert Monitoring mPERS Al-powered Homecare/Monitoring Assisted Living Facility Management Life Sciences Clinical Trials eCOA/ePRO Decentralized / Hybrid Trials CT with Biometric Data Capture CT Supplies Logistics Ancillary Supplies/Cold Chain Ⓒ2022 KORE 14 ● ● . ● ● ● ● ● ● ● ● ● ● ● ● ● ● • ● ● ● • • ● ● ● e 0 ● ● ● ● ●#15Connected Health Use Case Use Case Solution Bundles Horizontal Capabilities 1 & 2 loT Strategy, Tech & Security Selection 3 Connectivity, Device & Data Management 4, 5 & 6 loT Managed Services 7 Analytics and AloT KORE CaaS CEaaS Deployment Sustainment Cellular Satellite Unlicensed CNaaS PNaaS CMPaas SCMaaS Standard Add-Ons Standard Enhanced Position Logic Security Pro Dashboard LBS Security Predictive Optimization Usage Remote Patient Monitoring Chronic Disease CNaaS Core Network as a Service PNaaS Private Network as a Service. Management Chronic Disease Telemetry Service ✓ Cardiac Rhythm Monitoring CRM Telemetry Service Medical Equipment Diagnostics MED Telemetry Service ✓ www wwww T OEM CMPaaS = Connectivity Management Platform as a Service SCMaaS = SMS Content Management as a Service Medical Alert Monitoring + ✓ mPERS Medical Alert Telemetry Service Life Science eCOA/ePRO Digital Biomarker Data Capture Clinical Trials Telemetry Service Ⓒ2022 KORE 15 ● ● ● ● ● ● ● ● ● ● ● ● ● • ● ● ● • ● ● ● • ● ● ● ● 6 ● • • ● ● ● ●#16Connected Health New Developments Since Its Recent Launch, KORE Has Over 40 Active Opportunities In The CHTS Pipeline. Connected Health Telemetry Solution (CHTS) - Secure, Scalable, & Sustainable Cellular Gateway BLE Medical Sensors KORE KORE Hardware sourcing & validation Connectivity management & networking • Device management Forward & reverse logistics Data Telemetry • ● . Connected Health Telemetry Repository ● Customer • Preclinical research, study and protocol design ● Customer Data Repository ● Patient recruitment and engagement Manage study data and provide insights Analytics RPM: Chronic Disease Management RPM: Cardiac Rhythm Monitoring Medical Equipment Diagnostics: OEM Medical Alert Monitoring Clinical Trials: eCOA/ePRO Digital Biomarker Data Capture Benefits 440x Out of Box Deployment Secure Data Ingestion Minimizes Cost Powerful Integrations Proven Scalability Ⓒ2022 KORE 16 ● ● .. ● ● ● ● ● e ● ● ● ● ● • ● ● ● ● ●#17KORE Connected Health by the Numbers KORE's Unique Solutions and Scale Bridge the Technology Gap in a Rapidly Growing Market Connected Health Forecast Connected Health Revenue ($M) $100 KORE 2021A Segment Cardiac Rhythm Monitoring Chronic Disease Management Medical Equipment Diagnostics Clinical Trials with Medical Sensors $150 2025 Forecast Medtronic ►Livongo™ F FRESENIUS Leverage Our Credentials And Track Record to Expand and Grow Segments and New Anchor Accounts Representative Connected Health Players parexel. VERUSTAT Carestream Abbott HEALTH IQVIA TULA HEALTH Baxter MEDABLE Connected Health Opportunity Connected Health Revenue ($M) Myia Boston Scientific $100 2021 HCA+ Healthcare Davita. CAGR: 30+% ::: medidata Blo BIOTRONIK excellence for life SCENSION Hill-Rom 2025 Stretch Target ICON >3X Anthem. BlueCross Air Liquide HEALTHCARE COVANCE SOLUTIONS MADE REAL Liva Nova Edwards Dräger SIGNANT HEALTH Ⓒ2022 KORE 17 ● ● ● • ● ● ● ● ● ● ● ● e ● ● ● ● ● ● ● • ● • • • e ● ● ● ● ●#18Financial Highlights Revenue (In thousands USD) IoT Connectivity loT Solutions Total revenue Gross Margin % IoT Connectivity loT Solutions Overall Gross Margin % Period End Connections Average Connections Count for the Period DBNER KORE Three Months Ended March 31, 2022 $44,098 $24,843 $68,941 61.7% 27.1% 49.3% 15.3 million 15.1 million 122% 64% 36% 100% 2021 $40,720 $14,577 $55,297 62.3% 38.0% 55.9% 12.9 million 12.7 million 108% 74% 26% 100% Ⓒ2022 KORE 18 ● ● ●● .. ● • ● ● ● ● ● ● ● ● ● . ● ● ● ● ● ● ● • ● ● ● ● ●#19Financial Highlights (continued) (In thousands USD) Operating Expense Operating Loss Net Loss Adj. EBTIDA Cash Flow From Operations Cash Flow From Investing Cash Flow From Financing Cash at the end of the Period KORE Three Months Ended March 31, 2021 $30,635 2022 $40,824 ($6,855) ($10,907) $15,641 ($3,980) ($48,503) ($1,550) $31,914 $290 ($1,081) $16,418 ($12,320) ($3,091) $18,291 $85,976* Refers to the period ended December 31, 2021 Ⓒ2022 KORE 19 ● ● ● ● .. ● ● ● ● ● ● ● ● e ● . ● ● ● • ● ● • • 0 ● ● ● ● ● ●#20KORE KORE Powering the Interne Things NO 100 Well Positioned for Growth and Value Creation $260-265MM 2022 Revenue Outlook KORE is a 20-year old company. We listed publicly with an organic 'base case' and stated we believe we can accelerate significantly. $63-64MM 2022 Targeted Adjusted EBITDA $508-513MM 2-year revenue forecast, compared to $457MM forecast in go-public model ©2022 KORE 20 ● ● ● ● ● ● ● ● ● ● ● ● . ● ● ● ● ● ● ● ● ● e ● ● ● ●#21.............. ...................... ............... ........................ ............... ...................... ...................... Appendix ............... ...... KORE Ⓒ2022 KORE#22Reconciliation of Net Loss to EBITDA and Adjusted EBITDA (In thousands USD) Net loss Income tax expense (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 KORE Three Months Ended March 31, 2022 $ (10,907) (2,545) 6,624 13,196 6,368 (27) 1,565 5,293 2,050 (3) 395 $15,641 2021 $(1,081) (1,264) 5,059 13,114 15,828 (2,424) 1,803 851 315 (70) 115 $16,418 Ⓒ2022 KORE 22 ● ● • ● ● ● ● ● ● ● ● .. ● ● ●● e ● ● ● ● ● ● ● ● ● • ● 0 ● ● ● ● ●