#1KEYSIGHT Keysight Technologies 2023 Investor Day March 7, 2023#2KEYSIGHT Introduction and Opening Remarks Jason Kary VP, TREASURER & INVESTOR RELATIONS#3Safe Harbor This communication contains forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created therein. Statements preceded by, followed by, or that otherwise include the words "anticipate," "plan," "effort," "estimate," "expect," "goal," "intend," "forecast," "strive," "target," "pledge," "project,” “believe,” “outlook," "prospect," "vision" and similar words or expressions, or future or conditional verbs such as "will," "should," "would,” “may,” or "could", or statements regarding the company's goals, priorities, commitments, anticipated revenues, anticipated demand, growth opportunities, strategic direction, customer service and innovation plans, new product introductions, anticipated financial condition, anticipated gross and operating margins, future earnings, the anticipated continued strengths and expected growth of the markets the company sells into, and future operations, earnings, and tax rates are intended to identify forward-looking statements. Keysight disclaims any intention to, and undertakes no responsibility to, update or revise any forward-looking statement, whether as a result of new information, a future event, or otherwise. The forward- looking statements contained herein include, but are not limited to, predictions, guidance, projections, beliefs, opinions, and expectations regarding the company's future goals, revenues, financial condition, earnings, and operations that involve risks and uncertainties that could cause Keysight's results to differ materially from those expressed in such statements. Such risks and uncertainties include, but are not limited to, impacts of supply chain constraints; inflation, recession or depression; geopolitical tension and conflict; impacts related to endemic and pandemic conditions; changes in the demand for current and new products, technologies, and services; customer purchasing decisions and timing; delays in customer spending, order cancellations; delays in delivery, and impacts of increased trade tensions and tightening of export control regulations. For additional risks and uncertainties that could impact Keysight's actual results, please see our latest Form 10-Q for the fiscal quarter ended January 31, 2023 included but not limited to the discussion under "Risk Factors” therein, which may be viewed at www.sec.gov. This presentation includes a number of different financial measures, both GAAP and non-GAAP, in analyzing and assessing the overall performance of the business, for making operating decisions and for forecasting and planning for future periods. Non-GAAP measures exclude primarily the impacts of amortization of acquisition- related balances, share-based compensation, acquisition and integration costs, restructuring and related costs, and any one-time adjustments that may have a material effect on the Company's expenses and income from operations calculated in accordance with GAAP. Also excluded are tax benefits or expenses that are not directly related to ongoing operations and which are either isolated or cannot be expected to occur again with any regularity or predictability. For future periods, most of these excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy. This limits our ability to provide a reconciliation of the expected non-GAAP earnings per share to the GAAP equivalent. The definitions of these non-GAAP financial measures may differ from similarly titled measures used by others, and such non-GAAP measures should be considered supplemental to and not a substitute for financial information prepared in accordance with GAAP. Keysight generally uses non-GAAP financial measures to facilitate management's comparisons to historic operating results, to competitors' operating results and to guidance provided to investors. In addition, Keysight believes that the use of these non-GAAP financial measures provides greater transparency to investors of information used by management in its financial and operational decision-making. Refer to appendix for more details on the use of non-GAAP financial measures. ✔ KEYSIGHT 3#4Today's Agenda 8:30am Introduction and Opening Remarks Jason Kary | VP, Treasurer & Investor Relations Company Overview and Strategic Direction Satish Dhanasekaran | President & Chief Executive Officer Culture: An Enduring Competitive Advantage Ingrid Estrada | Chief People & Administrative Officer Communications Solutions Group Kailash Narayanan | President, Communications Solutions Group 9:35am Q&A 9:50am Break Electronic Industrial Solutions Group Ee Huei Sin | President, Electronic Industrial Solutions Group Holistic Customer Solutions through Software, Services, and Sales Mark Wallace | Chief Customer Officer Financial Update Neil Dougherty | Chief Financial Officer Closing Remarks Satish Dhanasekaran | President & Chief Executive Officer 11:00am Q&A 11:30am KEYSIGHT Product Demos and Leadership Networking 4#5KEYSIGHT Company Overview and Strategic Direction Market-Defining and Diversified Innovations Driving Value Creation Satish Dhanasekaran PRESIDENT & CHIEF EXECUTIVE OFFICER#6Keysight at a Glance (NYSE: KEYS) Our Purpose: Accelerate innovation to connect and secure the world #1 Market Position1 FY22 Company Highlights 30K+ 15K Total customers² Employees4 FY22 Revenue $5.4B FY22 REVENUE ✔ KEYSIGHT 48% / $2.6B Commercial Communications 22% / $1.2B Aerospace, Defense, Government 30% / $1.6B Electronic Industrial 41% AMERICAS 16% EUROPE 43% ASIA PACIFIC 100+ Countries served 29% Operating margin³ -$1B Free cash flow 3,5 21% Recurring revenue 22% EPS growth³ $31B Market capitalization4 1. Per company estimate; 2. Includes indirect channel; 3. Non-GAAP measure, see appendix for reconciliation; 4. As of fiscal year-end; 5. Cash flow from operations less Capex. 6#7Deep, Long-Term Global Customer Relationships Strengthening market-leading positions with 30,000+ customers Commercial Communications Aerospace, Defense, & Government LEADERS SERVING MARKET 14/15 Top mobile operators 22/25 Top aerospace & defense contractors 5/5 Top cloud companies Alphabet Amazon ⚫ AT&T Broadcom Cisco Fuijitsu • HP ⚫ Innolight . Nvidia Lenovo LG Meta • Microsoft • Nokia Qualcomm Samsung 23/25 Top technology companies¹ SELECT CUSTOMERS BAE Systems • Boeing Leonardo • Naval Research Lab US Government Electronic Industrial 10/10 Top automotive companies 25/25 Top semiconductor companies 10/10 Top engineering universities Daimler Delphi • Ford Infineon Qorvo⚫ Siemens Taiwan Semiconductor • Tesla 67/100 Fortune 100 served ✔ KEYSIGHT Per company estimates, customers who conducted business with Keysight in FY20, FY21, or FY22. 1. Jingdong Mall and Tencent are not customers. 7#8Track Record of Compounding Growth Enabled by strong execution of software-centric solutions strategy $2.86 FY15 - FY22 10% +850 CAGR bps +1,120 bps 18% 17% CAGR CAGR $5.42 65.0% 29.3% $959 $7.63 56.5% 18.1% $296 $2.52 Revenue ($B)1 Gross Margin %1,2 Operating Margin %1,2 Free Cash Flow ($M) 1,3 EPS1 +453% total shareholder return, outperforming S&P 500 ✔ KEYSIGHT 1. Non-GAAP measure, see appendix for reconciliations; 2. FY15 - FY18 operating margin and gross margin restated to reflect Q1'19 adoption of ASU 2017-07, "Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost"; 3. FY22 FCF unfavorably impacted by supply chain dynamics; 4. Based on closing stock prices of $31.50 on 10/31/14 and $174.15 on 10/31/22 8#9Achieved FY23 Financial Commitments Ahead of Schedule 2020 Investor Day Target Results since FY19 • Core revenue growth 1.2 Operating margin¹ 4-6% 26-27% (by 2023) Earnings per share¹ ≥10% 8% CAGR 24% 29% FY19 17% CAGR FY22 Key Accomplishments Capitalizing on decades-long growth trends to outperform the market and gain share Exceeded $1B in software revenue in FY22 with ~50% annualized recurring revenue (ARR) Successfully navigated pandemic, supply chain, and geopolitical disruptions ⚫ Returned capital through $1.9B+ in share repurchases since 2020 • Recognized in 2022 by Fortune as one of the "100 Best Companies to Work For" and the Wall Street Journal for "Best Managed Companies" ✔ KEYSIGHT 1. Non-GAAP measure, see appendix for reconciliations; 2. Core revenue growth excludes the impact of acquisitions, divestitures, and currency 9#10Actions Taken Since 2020 to Drive Long-Term Value Creation DOO GROWTH MARGINS CULTURE . Capitalizing on decades-long secular growth trends to • • . · Driving active portfolio management and value selling to expand gross margin Emphasizing lifecycle value and recurring revenue growth (software and services) through go-to-market Driving operational excellence through expansion of supplier base and enterprise digitization initiative to improve automation and enhance customers' experience Growing the Keysight brand worldwide and expanding the customer base, via signature programs • • Heightening customer-centricity and leveraging unique, collaborative culture as a competitive advantage Executing to ESG and DEI commitments, including achieving net-zero emissions by 2040 Institutionalizing organizational agility practices to enhance durability and resilience • • • • • outperform the market Extending 5G leadership to capitalize on long-term opportunity Investing to enable 6G vision and ecosystem Expanding automotive portfolio to advance innovation in new mobility Investing in solutions and strategic partnerships for quantum computing Capturing continuing semiconductor investments Ongoing strategic evaluation of future growth drivers ✔ KEYSIGHT 10 10#11Leader in Growing and Attractive Market $20.9B Growing served $20.9B $17.5B $15.5B $13.5B addressable market (SAM) 2015 2018 2020 2023 Long-term market growth rate 2-3% 3-5% 3-5% 4-6% $5B+ Pursuing SAM expansion opportunities in attractive adjacencies Software Test Pursuing adjacencies to current position (Eggplant Al/automation) Network Analytics Extending current Open RAN platform with performance analytics Data Management Building PathWave platform capabilities spanning cloud and edge data management, analytics, and connected workflow System Simulation and Emulation Expanding industry-leading EDA (electronic design automation) position to system-level simulation and emulation use cases for RF ✔ KEYSIGHT Source: Company estimates as of FY22. 11#12Favorable Long-Term Market Drivers Technology Trends • Next-generation connectivity • High-performance computing. driven by AI/ML applications • Next-generation semiconductors Transforming Industries • Automotive electrification and autonomous systems Digital health • ⚫ New space Market Dynamics • Government investments • Defense modernization • Onshoring Sustainability $13.1T 5G enabled global sales across industries in 2035 resulting from digital transformation¹ $15.7T Potential contribution from artificial intelligence to the global economy in 20302 $450-500B Total value created by connected-car use cases in 2030, up from $65B in 20203 $29B Invested in digital health startups based in the U.S. in 20214 $280B Funds allocated by the CHIPS Act to build U.S. capacity and support R&D5 62% Manufacturers started reshoring or near-shoring production capabilities ✔ KEYSIGHT 1. Qualcomm: Why and what you need to know about 6G in 2022; 2. PwC: Global Artificial Intelligence Study: Exploiting the Al Revolution; 3. McKinsey: The future of automotive computing: Cloud and edge; 4. Rock Health 5. Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act of 2022, H.R. 4346, 117th Cong. (2022); 6. Deloitte: The Future of Freight 12#13Consistent Software-Centric Solutions Strategy Accelerating innovation of long-term technology trends First-to-Market Design to create and Test Solutions Sustainable Lifecycle Value ✔ KEYSIGHT Strengthening Customer Value Proposition Time to market • Productivity Stronger Keysight Business Outcomes Accelerating profitable growth Improving resiliency • Expanding margins 13#14Multiple Vectors for Growth Actioning faster-growth opportunities across the technology stack OF TOTAL $5.4B FY22 REVENUE1 POSITION Increasing digitization and software content Applications Complementary adjacencies aligned to customers expanding design & test needs + Protocol Protocol test and emulation of real-world systems in the lab + Physical High-performance measurement solutions across analog and digital domains ~5% 25% 70% Attractive incremental opportunities Expanding since 2014 Core strength ✔ KEYSIGHT 1. Per company estimates 14#15Physical Layer: Growing Differentiation PHYSICAL STRATEGY TO WIN Provide high-performance measurement solutions for the most complex and challenging use cases across analog and digital domains UXR World's most advanced measurement platform • • • Highlights Measurement technology and fidelity enables complex designs on leading- edge wireline technology (e.g., 400G, 800G, 1.6T) Positions us to address newer emerging opportunities, such as 6G Services and software add-ons provide greater customer value and monetization opportunity 3 The UXR and VSA solution as it stands today is by far the most capable and versatile solution for signal capture and analysis. UXR verification and analysis completed within a single 6-hour lab shift, whereas previous legacy efforts take days to weeks to complete. 55 Aerospace/Defense Validation Engineer ✔ KEYSIGHT 15#16Protocol Layer: Expanding Use Cases PROTOCOL STRATEGY TO WIN Move beyond protocol test to emulate complex and real-world systems in the lab Channel Emulation Platform Pushing the limits of communications technology by emulating real-world conditions from underground to deep space - in the lab • Highlights Enables accurate replication of mission-critical use cases, including: • High-speed train conditions with 350 km/hr. Non-terrestrial networks with very high atmospheric propagation effects like Doppler Underground (e.g., mines) to surface communications GE Keysight is a strategic customer that enables innovation through their industry-leading platforms, leveraging AMD's adaptive computing solutions to solve challenging and important problems. - Victor Peng, President, Adaptive and Embedded Computing Group, AMD ✔ KEYSIGHT 16#17Applications Layer: Pursuing Attractive Adjacencies APPLICATIONS STRATEGY TO WIN Expand portfolio to address new, emerging applications through organic and inorganic investments PathWave Design Software EDA software used by ~70% of RF designers¹ • • Highlights Used by customers to design components and systems for nearly every wireless communications technology Expanding SAM through adjacencies, including system-simulation, high-speed digital, and power electronics Recently acquired Cliosoft for data and intellectual property (IP) management software tools GG A full-up workspace in Keysight PathWave System Design with our Sys-Parameters models speeds everything up. It's a step beyond anything we've seen out there for RF system reference designs. 55 - Brad Hall, Senior Manager, System Integration Engineering, Analog Devices ✔ KEYSIGHT 1. Pedestal Research: 2020 Register Transfer Level Market Trends 17#18Durable and Sustainable Competitive Advantages Strategic enablers of Keysight's continued value creation One Keysight Employee Growth Excellence Operational Social Responsibility VALUES Speed & Courage Market Insight Customer Success First-to-Market Solutions High Performance Capital Allocation Keysight Leadership Model Uncompromising Integrity 1 Deep, long-term global customer relationships 2 Unique technology expertise and capabilities 3) 4) Differentiated, first-to-market solutions portfolio Durable and resilient business model 5 Collaborative and innovative culture ✔ KEYSIGHT 18#19Co-Innovation Model Unlocks Future Growth Opportunities "The signing of this MoU with Keysight will greatly advance Samsung's 6G strategy of combining the company's expertise in communication technology with capabilities in software and Al. Joining forces with Keysight enables Samsung to influence a future that uses 6G to improve human connection, health, and safety." "Our research with Keysight drives many innovations with significant positive impact across a multitude of sectors that rely upon robust wireless connectivity. We are pleased to leverage Keysight's expertise in 5G emulation platforms to help the validation of our research and development for satellite-driven 5G NTN communications." "Lockheed Martin is leveraging expertise in the commercial sector to scale, adapt and integrate 5G technology rapidly and affordably across mission- critical operations across land, sea, air, space, and cyber domains. Keysight's end-to-end 5G test platforms...provide an opportunity to develop customized solutions that meet the stringent requirements of the defense industry." "We see an increasing need to intensify battery testing and tailored deployment. Keysight's experience and expertise in battery testing has resulted in a solution that meets our requirements, which made them the perfect choice to realize this crucial project." Sunghyun Choi, Executive Vice President, Samsung Research Tingfang Ji, Vice President Of Engineering, Qualcomm Technologies Dan Rice, Vice President, 5G.MILPrograms, Lockheed Martin Håkan Örnhed, Head of Test Cell Operation Battery and E-components, Scania ✔ KEYSIGHT 19 1#20Technology Differentiation World-Class Talent and Technology Capabilities Feed Robust Innovation Ecosystem Industry-Leading Talent Platform & Unique Innovation Engine 3,100+ R&D engineers worldwide >40% with M.S. or Ph.D. degrees >67% focused on software development Keysight and IEEE Fellows 3,800+ patents 1 with 100s of new invention disclosures generated annually Central R&D team inventing breakthrough technology, plus business-specific teams innovating customer solutions . Deep Semiconductor & System Integration Expertise Proprietary, purpose-built chips, modules, and interconnects enable higher performance and margin expansion Best-in-class analog, digital, and software system architectures optimized for measurement, test, and emulation use cases PathWave Software • . Platform maximizes customer workflow and lifecycle productivity Actionable insights via automation, data management, and analytics ✔ KEYSIGHT 1. Patents awarded to Keysight and Keysight's business under Agilent and HP INNOVATION ECOSYSTEM Stomer-Centric Innovation Research Universities Collaboration with Top ✔ KEYSIGHT 50+ Consortia & Standards Bodies Industry-Leading Partnerships 20 2#21Differentiated, First-to-Market Solutions Portfolio Our Approach 1. Select best opportunities to maximize lifecycle value through design and test 2. Create market-leading solutions (hardware + software + services) 3. Maintain high leverage across both business groups (40%+ solutions crossover) Simulate Expanding R&D Mix¹ EXPANDING Prototype Validate Manufacture | Optimize Growing Software and Services¹ Increasing Recurring Revenue¹ R&D 54% 34% ✔ KEYSIGHT 12% 1. As of FY22 Manufacturing Operations EXPANDING 12% Hardware 67% Software 21% 33% Services EXPANDING Non-recurring 21% 79% Recurring 21 21 3#22Diversified and Durable Business Sustained Revenue Growth with Compounding Layers of Innovation (by product introduction year) FY21 to FY22 4 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY19 to FY20 FY17 to FY18 FY15 to FY16 Through FY14 Investments for Profitable Growth Since Spin R&D $4.8B+ organic R&D investment + +50% Revenue from products released within the last 5 years +90% Top 1,000 customers do business with Keysight annually1 M&A Deployed -$3.0B for 20 acquisitions to expand workflow offerings ✔ KEYSIGHT 1. Count of top 1,000 Keysight customers with annual purchases every year from FY20-FY22 22 22#23Disciplined Capital Allocation Enables Strategy and Creates Value 1 2 3 Drive Organic Growth ~16% of revenue invested in R&D; up from 12% at spin Disciplined M&A When strategic and financial criteria are met S Return of Capital NEW $1.5B share repurchase authorization ✔ KEYSIGHT 4 23 23#24Creating Value through M&A 5G, Networking, and Computing Solutions Anite prisma telecom testing ixia SCALABLE NETWORK TECHNOLOGIES Quantum Solutions MICRAM SANJOLE Software for Electronic Design and Test benchmark ↓ Labber QUANTUM Signadyne (b) quantum Automotive and Energy Solutions nordsys® SYSTEMTECHNIK Verisco terest Smart Cnication eggplant Quamotion Make your app shine cliosoft scienlab electronic systems NORDDEUTSCHE Services Electroservices Liberty Calibration PSNA THALES Australia Calibration Services ✔ KEYSIGHT Supplier Swiss-Micron 4 . M&A Capabilities • Highly disciplined with strong strategic and financial criteria to assess value creation potential Long-term planning to evaluate new markets aligned with strategy Strong business accountability for assessing targets in identified markets Robust diligence process based on technology, customer, and culture fit Centralized team to drive transaction execution and integration Proven and disciplined playbook for realizing sources of value and leverage 24 24#25Our Culture Continues to Drive Financial Performance and Gain Recognition One Keysight Employee Social Responsibility Excellence Operational Growth VALUES Speed & Courage Market Insight Customer Success First-to-Market Solutions High Performance A Capital Allocation Uncompromising Integrity Collaboration Commitment to Results Innovation BUILT AROUND KEYSIGHT LEADERSHIP MODEL AND ONE KEYSIGHT FORTUNE FORTUNE JUST COMPANIES 100 BEST COMPANIES TO WORK FOR 2022 BEST WORKPLACES INTECHNOLOGY 2022 ACNIC 2022 PROUD TO BE ONE OF AMERICA'S MOST JUST COMPANIES Forbes 2023 AMERICA'S BEST MID-SIZE EMPLOYERS POWERED BY STATISTA ✔ KEYSIGHT Great Place To Work. BEST-MANAGED Certified JAN 2022-JAN 2023 USA BEST-MANAGED THE WALL STREET JOURNAL COMPANIES 2022 COMPANIES Bloomberg Gender-Equality Index 25 5#26Strong and Experienced Leadership Team Satish Dhanasekaran President and Chief Executive Officer Neil Dougherty Chief Financial Officer Ee Huei Sin President, Electronic Industrial Solutions Group Ingrid Estrada Chief People and Administrative Officer Gooi Soon Chai President, Order Fulfillment and Digital Operations Marie Hattar Chief Marketing Officer Jeffrey Li General Counsel and Secretary ✔ KEYSIGHT Kailash Narayanan President, Communications Solutions Group John Page President, Global Services Mark Wallace Chief Customer Officer 26 5#27Raising Long-Term Expectations Keysight's Position of Strength New Targets Favorable Long-term Drivers Ecosystems are expanding Innovation intensity is accelerating Greater need for system-level capabilities Customers seeking deeper and earlier collaborations Technology investments are an increasingly greater driver of GDP • ⚫ Differentiated technology stack enables market-leading solutions portfolio aligned to long-term growth drivers • Strong and deep customer relationships furthered by industry- focused go-to-market engine • Durable operating model with strong balance sheet • Balanced and disciplined capital allocation approach • Proven leadership team driving winning culture ✔ KEYSIGHT 5-7% Sustainable core revenue growth1 CAGR 31-32% Operating margin² (by FY26) ≥10% EPS growth² 1. Core: Excludes FX and acquisitions or divestures completed within the last 12 months; 2. Non-GAAP measure . . 27 27#28KEYSIGHT Culture: An Enduring Competitive Advantage Value Creation Through the Keysight Leadership Model, Developing a Diverse Workforce, and Enabling a Sustainable Future Ingrid Estrada CHIEF PEOPLE & ADMINISTRATIVE OFFICER#29Key Messages 1 Culture is an enduring competitive advantage and critical enabler for our software-centric solutions strategy 2 Enhancing organizational capability in alignment with our strategy and Keysight Leadership Model to deliver value to all stakeholders 3 Environmental, social, and governance efforts integrated into strategy and positively impacting global community ✔ KEYSIGHT 29#30Our Diverse, Customer-Focused Culture Accelerates Innovation The Keysight Leadership Model: A Winning Formula Highly Engaged Workforce One Keysight Employee Growth Operatione Social Responsibility VALUES Speed & Courage Market Insight Customer Success First-to-Market Solutions High Performance Allocation Uncompromising Integrity Deeply- Rooted Values Compelling Vision Customer- Focused Innovation Enduring, Collaborative Environment FOUNDATIONAL TO OUR CULTURE ✔ KEYSIGHT Statistics as of FY22; 1. FY20-FY22; Source: LinkedIn 15K 30 86 Employees 5 Generations Countries Self-identified nationalities 7% Avg. turnover vs. 13% industry avg.1 12 YEARS Avg. tenure 3,200+ & 99.5% New employees from 20 acquisitions; high acceptance rate 30#31Our People Strategy Enables Our Business Strategy Evolving organizational capability to execute software-centric solutions strategy at scale Organization • • Evolved organizational design to align with customers and industry solutions, while maintaining technical differentiation and building customer-focused culture Variable compensation metrics aligned with business results (e.g., ARR, DEI) R&D Go-to-market Talent ✔ KEYSIGHT 1. FY20-FY21 Intel EPIC Distinguished Supplier Award 2022 • • • · Co-innovating with market-leaders to be first to market (e.g., 5G/6G, automotive, semi) 。 ~31% of new products and solution orders are software1 Driving continued progress in internal software development to improve time-to-market Expanding business models by scaling enterprise subscription sales, growing ARR, and expanding value-added services Driving recurring revenue with dedicated software and services sales team Assimilated 20 technology and software acquisitions to enable end-to-end solutions (3,200+ employees, primarily software engineers) Recruiting and retaining world-class technical talent to maintain our track record of enabling breakthrough innovations with market leaders – we are the "engineer's engineer" - TECH.AD AWARD WINNER BOSCH EE AWARDS 亞洲金選獎 二程師準娘的選擇 31#32Driving High-Performance Culture to Enable Company Strategy 100% of employees on variable pay program tied to financial performance • STEM Education Development 1.7M+ students1 and future engineers engaged Expanding reach and diversity through redefined intern and campus recruiting, including HBCUs GG Career Development >1,300 employees participating in mentoring program Annual training aligns employees with software- centric solutions strategy Technology Expertise >67% of R&D roles are software engineers >40% of engineers have M.S. or Ph.D. Lower-than-industry- average attrition rate ensures stability Leadership Development 700+ alumni from award-winning² next-gen program ⚫ >100K learning courses completed Emeritus Program Knowledge transfer from retiring tenured employees to develop colleagues and retain IP and technology expertise The most rewarding aspect of my career with HP-Agilent-Keysight is seeing how instruments that I helped design are solving customers' needs. Seeing a customer testing their product using a Keysight instrument that I helped develop is an amazing experience. I can't think of any other company, government agency, or university with the rich mix of people, equipment, and facilities that we have. PRODUCT DEVELOPMENT ENGINEER | 48-year tenure Upskilling and stability of talent lead to superior outcomes ୨୨ ✔KEYSIGHT 1. FY15-FY22; 2. 2022 Brandon Hall Group Silver award for excellence in the Best Advance in High Potential Development category 32 32#33Highly Engaged, Productive Team Exemplifies Our Purpose and Values Home garage labs during the pandemic SPEED AND COURAGE AUTO TECH TALK Tech talks and annual hackathon ✔ KEYSIGHT 1. Company survey 2022 Innovation Challenge: women-led university teams compete with sustainability inventions UNCOMPROMISING INTEGRITY 653-279 STEM labs funded in rural India communities HIGH PERFORMANCE 14 employee network groups grew >300% since FY20 Keysight Technical Conference brings together technologists and business leaders SOCIAL RESPONSIBILITY >85% of employees are enthusiastic about Keysight's mission and feel surrounded by people who share their values¹ ONE KEYSIGHT 333#34Comprehensive ESG Actions Deliver Business Value Solutions for a Sustainable Future Pathway to Net Zero by 2040 Diversity, Equity, and Inclusion (DEI) • Clean tech innovations in renewable energy and e-mobility ecosystem (e.g., automotive FY22 orders >$500M) Contributing to power reduction in communications networks with Open RAN solutions Net zero in Scope 1 and Scope 2 with interim goal of 55% renewable energy and 10% absolute energy reduction by end FY30 Submitted proposed targets for validation to Science Based Targets initiative Diverse board and management team; >50% ethnic/gender diversity on board Top leaders' compensation tied to advancing specific DEI goals and objectives Publish annual DEI report as part of commitment to transparency Building a Better Planet with Technology Plan to Achieve Paris Agreement a Decade Early Engineering Equality Starts at the Top Robust and rigorous reporting framework with key impact goals across all ESG pillars ✔ KEYSIGHT 34 34#35Our Culture and Commitment to Diversity and Sustainability Are Being Recognized FORTUNE FORTUNE 100 BEST BEST COMPANIES TO WORK FOR 2022 WORKPLACES IN TECHNOLOGY™ 2022 MOST AMERICA'S M JUST COMPANIES CNBC 2023 Bloomberg Gender-Equality Index DEUTSCHLAND GERMANY AMERICA'S MOST AMERICA'S MOST COMPANIES ACNIC 2033 PROUD TO BE ONE OF AMERICA'S MOST JUST COMPANIES COMPANIES ACTIC 2022 PROUD TO BE ONE OF AMERICA'S MOST JUST COMPANIES FAST OMPANY 2021 top EMPLOYER 2022 CERTIFIED EXCELLENCE IN EMPLOYEE CONDITIONS Great Great Great Place Place Place To To Work. Work. Certified Certified DOT 2021-SEP 2022 JAPAN OCT 2002 OCT 3023 KOREA To Work. Certified JAN 2022-JAN 2023 USA Great Place To Work Certified BEST COMPANIES TO WORK FOR SEP 3021-SEP-2022 IN ASIA 2022 CHV T-MANAGED COMPANIES THE WALL STREET JOURNAL 2022 BEST-MANAGED COMPANIES ITI Rowin Award for Diversity, Equity, and Inclusion PLATINUM Top 1% 2022 ecovadis Sustainability Rating Forbes 2022 AMERICA'S BEST MIDSIZE EMPLOYERS POWERED BY STATISTA SOCIAL QUALITYSCORE 1 HIGHEST RANKED BY ISS ESG▷ Member of Dow Jones ENVIRONMENTAL QUALITYSCORE HIGHEST RANKED BY ISS ESG▷ Proud to be one of The Top 100 Companies Supporting Sustainability Indices Healthy Families & Communities Powered by the S&P Global CSA Forbes 2023 AMERICA'S BEST MID-SIZE EMPLOYERS POWERED BY STATISTA 2022 MSCI ESG Leaders Indexes Constituent top ESPAÑA SPAIN EMPLOYER 2022 CERTIFIED EXCELLENCE IN EMPLOYEE CONDITIONS ✔ KEYSIGHT 35 55#36Key Takeaways 1 Enhancing customer-focused culture to enable world's best engineers and continue innovating at the speed of the customer 2 Cultivating talent skills necessary for growth to expand R&D talent pools in software, 6G, and automotive 3 Heightening focus on ESG and delivering solutions to build a better planet ✔ KEYSIGHT 36#37KEYSIGHT Communications Solutions Group (CSG) Capitalizing on Megatrends in Connectivity, Computing, and Defense Modernization; Expanding Reach in Customer Workflows, and Advancing Future Innovation Kailash Narayanan PRESIDENT, COMMUNICATIONS SOLUTIONS GROUP#38Key Messages 1 Building on strong track record of outperformance to sustain market leadership 2 Maximizing growth opportunities by focusing on R&D workflow and key secular technology megatrends 3 Driving above- market growth by expanding our differentiated solutions portfolio that spans entire customer innovation cycle 4 Leveraging solutions synergies and operational excellence to expand margins ✔ KEYSIGHT 38#39CSG Performance: Delivering Robust, Sustained, Above-Market Growth FY22 Highlights Revenue and Operating Margin 3-year revenue CAGR: ~6%2 Operating margin: +510 bps² +8% 28.5% $3,803 $3,523 YoY revenue growth Operating margin $3,177 $3,132 $1.1B Operating income +16% YoY operating income growth $15B Served addressable market (-25% share) 4-6% Long-term market growth rate1 ✔ KEYSIGHT 1. Per company estimates; 2. FY19-FY22 26.5% 24.7% 23.4% FY19 FY20 Revenue ($M) FY21 OM% Communications Solutions for Diverse, Growing Key End Markets Global talent pool with >2,000 engineers REVENUE 28.5% FY22 O Commercial Communications ~70% Aerospace, Defense, and Government -30% 39#40CSG Business: Serving Diverse and Complementary End Markets Commercial Communications Aerospace, Defense, & Government Wireless • Chipsets • Devices . • RAN infrastructure • Core networks Wireline • Silicon • Data centers & Enterprises Service Providers • CSPs ⚫ Cybersecurity Communications • Spectrum operations • Radio technologies Space & Satellite • Space & satellite • Edge computing • Live networks • Radars • AI/ML workloads • Enterprise IT • Private networks • Cybersecurity Government Research • 5G applications .5G applications • Quantum • Advanced emulation & design • Energy, EV • Government enterprise Enabling end-to-end customer innovation workflow from simulation to design and deployment across entire ICT industry from silicon to cloud Advancing digital transformation of defense workflows and mission-critical operations, and enabling sovereign investments in technology and research ✔KEYSIGHT Leveraging synergies in communications and computing technologies across both markets 40 40#41Strong Track Record of Creating Value 1 What We Said at 2020 Investor Day Investing to expand market position and leadership Actions Taken & Results • 2 Accelerating portfolio transformation to enable digital revolution in end markets 3 Expanding software, services in high-growth markets creating runway for profit expansion • . · Achieved 6% 3-year revenue CAGR for Commercial Communications and Aerospace, Defense & Government Capitalizing on global 5G rollouts and enabling new applications, including Open RAN Leveraging industry-leading 5G platform to deliver 40 new solutions while expanding installed base to >1,600 customers Capturing growth from defense modernization and new investments in space and satellites Increasing differentiation and customer 4 adoption enabling lifecycle value capture ✔ KEYSIGHT • Actioning synergies from new acquisitions: Sanjole, Scalable, and Micram Recognized industry leader - consistently exceeding commitments and compounding returns 41#4242 42 Well-Positioned in Attractive and Growing End Markets Addressable Market¹ $15B FY22 FY22 Revenue Commercial Communications $2.6B LT Market Growth Rate 4-6%1 Industry Dynamics 2023E ICT global spend of $4.7T expected to increase to $5.8T by 2026E2 Digital transformation in verticals and in new use cases • Ongoing investment in connectivity and networking - 5G, 400G, 800G, early 6G research AI/ML workloads driving high-performance computing Satellite and operational networks Aerospace, Defense, and Government $1.2B 3-4%1 Combined U.S. and allied nations defense spending of $1.5T3 Acceleration of defense modernization due to geopolitics Ramping investments in space Advanced research in 5G/6G, energy, and electrification initiatives Sovereign investment in key technologies U.S. CHIPS Act and impact Investing to outperform market by 100-200 bps ✔KEYSIGHT 1. Per company estimates, includes services; 2. Source: Gartner; 3. Source: SIPRI 2021 estimate#43CSG Profitable Growth Strategy дво Capitalize on Secular Technology Megatrends in Commercial Communications Maximize 5G, 6G, and next-generation technologies Accelerate Aerospace, Defense, and Government Digital transformation and modernization Expand Software Solutions Margins and lifecycle monetization ✔KEYSIGHT Operational excellence is foundational to our growth strategy 43#44Commercial Communications Capitalize on secular technology megatrends: maximize 5G, 6G, and next-generation technologies#45Technology Megatrends Drive Sustained Investment and Innovation in ICT Industry Well-positioned to capitalize on technology waves Connectivity & Networking WIRELESS WIRELINE High-Performance Computing • 5G Release 17 5G Advanced Network Sensing Autonomous Driving (8) Open Radio Access Network Frequency Bands Expansion Non-Terrestrial Networks, High- Altitude Platform Stations 800G, 1.6T Private Networks Data Center Networks OT Networks Silicon Photonics Cognitive Networks Al Central Processing Unit, Graphics Processing Unit, Network Processing Unit Cybersecurity Edge Computing www Optics, Terabit, IOWN Exascale Computing TIT Enterprise and Cloud Computing 5G Regional Deployments Ramping Subscribers expected to increase from 1B to 5B in 5 years FWA expected to grow from 110M to 270M subscribers Network Virtualization: Key in Scaling 5G Deployments • >2X expansion in Open RAN in next 4 years Growing Space & Satellite Investment, Including 5G NTN 24,000 new satellite launches expected over next 10 years Silicon Photonics and Terabit Research Underway • • Silicon photonics expected to grow from 20% to 30% of optical transceiver market by 2027 Artificial Intelligence / Machine Learning • • Data center Al networking market expected to grow from $350M to $6.5B in 2027 Enterprise IT Spend Expected to Increase at 7% CAGR Digital transformation driving investment across multiple growing and diverse sets of end markets . 5G • 6G • Energy Efficiency • Quantum • Digital Twin ⚫AI/ML ✔KEYSIGHT Investing in differentiated solutions to advance connectivity, computing, and digital innovation Sources: Ericsson, 650 Group, Dell'Oro Group, Yolé Group, Euroconsult, Gartner; IOWNⓇ is a trademark or registered trademark of NIPPON TELEGRAPH AND TELEPHONE CORPORATION 45 45#46Enabling Future Digital Infrastructure; Multiple Tracks of Innovation Overlapping technology waves provide secular growth opportunities 2022 2024 2026 2028 2030 & Beyond 15:56 Wireless 5G & 6G Virtual RAN Devices & loT Wireline Photonics Switching Fabric High-Speed Ethernet Computing HPC Advanced Silicon High-Speed Interfaces 5G - Rel-17 (RedCap, power saving), Rel-18 (NTN evolution, Sidelink), Rel-19 6G - Research, pre-standard development, standardization, trials Open RAN - 2 releases/year, RU, DU, CU, RIC applications Enterprise WiFi – WiFi6e, 7, 8, 9 - ASICSS - 25.6Tbps, 51.2Tbps, 102.4Tbps I/O SERDES - 56Gbps, 112Gbps, 224Gbps, 448Gbps Ethernet - 800GE, 1.6TE, 3.2TE, 6.4TE SmartNICS - 200Gbps, 400Gbps, 800Gbps, 1.6Tbps Optics - 800Gbps, 1.6Tbps, 3.2Tbps, 6.4Tbps Semi Nodes - 7nm FinFET, 6nm FinFET, 6nm GAA, 5nm GAA, 4nm CFET Quantum - Hundreds of qubits, low 1000s of qubits, tens of 1000s of qubits DRAM - DDR5, DDR6, DDR7, GDDR5, GDDR6, GDDR7 USB - USB 3.x, USB4, USB4 2.0 PCle-PCle5.0, PCle6.0, PCle7.0 10X Higher Bandwidth 5X Lower Latency 10X QoS & Use Cases 8X Higher Data Rates 9X Al Bandwidth/GPU 6X Lower Power/Gb 5X Higher Density 1000X Higher Flops 2X Lower Power ✔ KEYSIGHT 46 46#47Commercial Communications: How We Win Enabling next-generation digital infrastructure; covering critical aspects of design workflow • • Deep Industry Engagements Partnering with O-RAN Alliance to enable ecosystem and deployments Enabling market-defining customers with 5G-Advanced and early 6G research Collaborating with industry consortia (IOWN, NextG Alliance, QED-C) First-to-Market Solutions Launching industry-first silicon photonics solutions Delivering industry-first terabit transmissions with leading customers Developing solutions for satellite 5G/non-terrestrial networks Differentiated and Broad Portfolio Increasing portfolio breadth through acquisitions Capturing mmWave investments for lab tools with best-in-class physical layer solutions Expanding into the protocol and application layer with higher software content Expansion Across Workflow Increasing workflow coverage through systems- level simulation (channel emulation for NTN, network digital twin) Exploring new SAM in deployment applications e.g., Open RAN, network analytics ORAN IOWN Collaboration 3GP QED-C ✔ KEYSIGHT NEXTG IOWNⓇ is a trademark or registered trademark of NIPPON TELEGRAPH AND TELEPHONE CORPORATION 47#48Capitalizing on 5G Expansion, Advancing Early 6G Research Extending leadership as standards progress and deployments scale; expanding installed base with new use cases 2017 2024 2025 5 G 2027 2030 Latency⚫ VoNR⚫ 5G Standalone ⚫ Multi-Access Edge Computing • Sidelink 5G ADVANCED • Non-Terrestrial Networks Private Networks • Positioning Cooperative Robotics 6 G Immersive Communications ⚫ Spatial-Temporal Services Omnipresent IoT ⚫ Compute-Al Services Global Broadband > 125 SOLUTIONS TO DATE 5G Network Emulation Solutions Private and Industrial Sub-THz 6G Testbeds Network Solutions ✔ KEYSIGHT Strategy to Capture Growth Enable standards progression, 1 Rel-17 through Rel-21 Extending industry-leading 5G platform to support 5G-SA, mmWave, D2D, UL improvements Maximize growth with scaling of 5G 2 3 deployments leveraging solution breadth Opportunities being pursued: • 5X subscriber growth to 5B by 2028 • ~3X network growth by 2027 • • • Regional scaling in Europe/India Industrial: automotive, RedCap (IoT) Aerospace and defense: HAPS, NTN Enabling early 6G research with first-to-market solutions • Leveraging industry-leading partnerships to advance diverse use cases 48#49Keysight Enabling New Network Architecture: Network Virtualization Advancing Open RAN and expanding customer base Field Testing & Commissioning ✔ KEYSIGHT Conformance (3GPP, Open RAN) Multivendor & System IOT Devices RU ((8)) RF DU RAN and End-to-End Performance User Experience CU Edge APPLICATIONS PROTOCOL Visibility, Assurance & Automation Radio Edge Computing Core Network and Cloud Altiostar ⚫ Analog Devices AT&T NVIDIA • Radisys • Rakuten • . AWS Cisco Fujitsu Google Cloud • HPE ⚫ Jio Mavenir Telecom Italia • Telefónica •>125 additional customers • 49#50Enabling Next-Generation Data Center Networks Driving wireline innovation in 400G/800G/terabit and photonics Industry Challenges Data traffic continues to increase, and massive new AI/ML computation pushes innovation in data center networking and computing technologies • 400G and initial deployments of 800G underway requiring simulation, design and validation; next generation of 1.6T silicon development underway Design and deployment of integrated optics (O-E, E-O interfaces) and photonic chips require new capabilities Differentiated End-to-End Portfolio First-to-market advanced physical (224 Gbps) and protocol layer (800G) capabilities, including industry-leading analog bandwidth (>75 GHz) with AWG Parametric characterization, protocol stack validation and cybersecurity use cases (including cloud-native offerings) Secure L2 DC Interconnect 800G High-Volume 400/800G Optics 400G Spine Layer 400/800G DC Interconnect SR Segment Routing Secure L2 DC Interconnect 800G Higher-Layer Security Inspection PROTOCOL PHYSICAL Outcomes Design and emulation solutions adopted by >200 customers in 4 years GG Keysight's groundbreaking 8x400GE APS-M8400 cybersecurity test platform delivers the port density, multi-terabit application and TLS throughput rates, and session scalability that help Fortinet test and validate the performance and real-time threat protection our customers expect. 55 JOHN MADDISON Executive Vice President of Products and Chief Marketing Officer at Fortinet ✔ KEYSIGHT 50#51Enabling Emerging Inflection in AI/ML Keysight advancing solutions for network infrastructure at data centers and hyperscalers Industry Challenges • AI/ML workloads require high networking • • . • bandwidth (800G, 1.6T) and computing performance Questionable accuracy, long processing times, and high cost of AI/ML training and inference Cost prohibitive to run large-scale "what-if" scenario assessments for network design and operations Keysight Value Proposition • Industry-leading network test solutions used to design, evaluate, build, and optimize system infrastructure beneath AI/ML training and inference workloads Industry-leading 8 port density in 800G solution Accelerating innovation to optimize complete systems, encompassing physical, communication protocols, and neural network models ✔ KEYSIGHT ☑ AI/ML DATA CENTER CLUSTER Network Spine Switches Data Center Racks مراكم WHAT KEYSIGHT OFFERS Benchmarking network fabric design Emulating data, compute, and communications Emulating Al/ML workloads 51 51#52Aerospace, Defense, and Government Accelerate defense modernization and digital transformation#53Digital Transformation and Geopolitics Driving Investment in Aerospace and Defense Keysight accelerating defense modernization and advancing research Key Drivers 5G/6G Spectrum Operations Autonomous Systems New Space Electrification Network Digital Twin AI/ML Quantum • • Favorable Global Spend Environment LEO satellite market expected to grow at >15% CAGR through 20261 U.S.: Defense budget FY23 approved: $847B (+8% YoY); research, development, test, and evaluation budget at record level ($130B) in FY23 (+16% YoY)² NATO: Increasing budgets significantly in response to current geopolitical situation and need for modernization Japan: Record-high FY23 defense budget, up 26% YoY³ South Korea: Initiative to develop comms systems for domestic use and exports; additional investment in space Opportunities COMMUNICATIONS Rich Market Insights + SPACE & SATELLITE GOVERNMENT RESEARCH AEROSPACE DEFENSE SUPPLY CHAIN GOVERNMENT ENTERPRISE Strong Core Portfolio + New Solutions 5G-AD and Space Strategic + Partnerships ✔ KEYSIGHT 1. MarketsandMarkets, LEO Satellite Market by Satellite Type, March 2022; 2. U.S. budget data from text of NDAA; 3. Based on defense budget in Japanese Yen. 53#54Capturing New Investment in Satellite Networks Enabling space connectivity with new modelling and emulation capabilities Industry Challenge > APPLICATIONS PROTOCOL PHYSICAL Need for innovation in the satellite communications industry (e.g., next-generation satellites with greater interoperability in current and future infrastructure) Satellite connectivity accelerating, extending beyond GPS and legacy video broadcast >100 satellite networks planned for broadband internet, IoT, and earth observation Differentiated End-to-End Portfolio Phased-array antenna design solutions with industry-leading phase noise (>30dB better) for characterization Physical and protocol layer modelling software, including 5G NTN Network solutions for traffic emulation Outcomes Industry-first NTN milestone enabled customers to validate their designs for messaging via satellite links Advancing ground telcos, satellite operators, and cloud providers Keysight has been a critical enabler of our 5G.Mil program. Among other things, we utilize Keysight's NTN protocol solutions to enable our cross-functional teams to collaborate, design and prototype our next- generation communication technologies and products. DANIEL RICE VP of 5G.MIL Program, Lockheed Martin ୨୨ ✔ KEYSIGHT 54 52#55Accelerating Global Quantum Innovation Advancing qubits expansion and control; expanded global engagements to >100 Industry Challenge > Enterprise and governments seeking first-mover advantage and long-term technical sovereignty Roadmaps accelerating, with U.S. and global ecosystems leading - 100s qubits in 2-3 years, 1000s by end of decade ✔ KEYSIGHT IME THE QUANTUM LEAP 4 DEMA APPLICATIONS PROTOCOL Differentiated End-to-End Portfolio Portfolio covering emulation, error characterization, control and test Outcomes Engaged globally with more than 100 companies and research institutions Leading industry consortia presence (U.S., QED-C, Japan, Q-STAR) Quantum Emulation In Quantum Qubits Control Quantum Benchmark Core Products Portfolio GG Joint work between Quantum Benchmark and the Advanced Quantum Testbed at Berkeley Lab... has led to a dramatic improvement in the area of quantum control and significant performance enhancements for quantum applications. DR. IRFAN SIDDIQI Director, Quantum Systems Accelerator, Lawrence Berkeley National Laboratory ワワ 55 55#56Expand Software Solutions Margins and lifecycle monetization#57Customer Innovation Workflows Driving Software Expansion Opportunities Customers' connectivity and computing IP becoming increasingly software-centric EXPANDING SOLUTIONS AND ADDING CAPABILITIES FOR NEW APPLICATIONS Virtualization Modelling Non-terrestrial networks, digital twin, and complex systems Network functions virtualization, cybersecurity, cloud, and 5G.AD applications Live Workflows Analytics, quality of service, quality of experience, and monitoring 101 APPLICATIONS PROTOCOL Software portfolio expansion through organic investment and acquisitions is driving above-average growth in software and recurring . revenue . CSG software revenue FY19- FY22 CAGR of high single digits Strong synergies with IXIA, Prisma Telecom, Sanjole, Scalable Network Technologies, and Eggplant acquisitions are increasing new software capabilities ✔ KEYSIGHT # 40 57#58Driving Operational Excellence Multiple levers enabling increase in operating margin Leveraging common R&D investment across end markets Driving continuous improvement in solutions value Ongoing focus on supply-chain excellence · Reuse common physical and protocol layer portfolio • 10+ new solutions addressing use cases in both end markets in the next 3 years Improving customer experience in new solutions Increasing software delivery cadence across multiple solutions Reducing material price premiums and driving value-engineering projects ✔ KEYSIGHT 58#59Key Takeaways 1 Capitalizing on steady investments in long-term overlapping technology waves, driving innovation in growing markets 2 Deepening customer engagements in existing workflows and in advancement of future technologies 3 Broadening industry- leading solutions portfolio through organic investment and synergies from recent acquisitions 4 Increasing solution and software content and leverage across end markets driving margin expansion and efficiency ✔KEYSIGHT Creating value through advancing technology waves, enabling defense modernization, expanding margins, and driving operational excellence 59 59#60KEYSIGHT Q&A Session#61KEYSIGHT Break#62KEYSIGHT Electronic Industrial Solutions Group (EISG) Strengthening and Capitalizing on Market-Leading Position, Advancing Customer Innovation in High-Value Applications, and Driving Automotive Leadership Ee Huei Sin PRESIDENT, ELECTRONIC INDUSTRIAL SOLUTIONS GROUP#63Key Messages 1 Consistent track record of sustained profitable growth through strategy execution and operational excellence 2 Well-positioned to capitalize on industry mega trends for digitization, new mobility automotive, and next-generation semiconductor innovation 3 Competitive advantage from leveraging Keysight's broad and deep technology expertise across a diverse set of fast-growing markets for speed-to-market 4 Continued market outperformance by capturing new tech investments, targeting emerging verticals, maximizing installed base, and expanding software solutions ✔ KEYSIGHT 63 63#64EISG Performance: Strong Track Record, Above-Market Growth FY22 Highlights Revenue and Operating Margin 3-year revenue CAGR: ~12.5%² Operating margin: +510 bps² +14% YoY revenue growth 31% $1,617 $1,418 Operating margin Electronic Industrial Solutions for a Diverse Set of Growing End Markets CUSTOMERS MARKET DRIVERS General Electronics • Electronics Digitization $1,135 Designers and • $1,089 Post-Covid $0.5B Operating income +13% YoY operating income growth $5.9B Served addressable market (~27% Share) 4-6% Long-term market growth rate1 31.3% 31.0% Manufacturers Recovery . Academic Institutions 27.1% 25.9% Automotive & Energy • OEMs • Tier 1 and 2 Suppliers New Mobility Increasing Electronic Content Semiconductor Foundries . ✔ KEYSIGHT 1. Per company estimates; 2. FY19-FY22 FY19 FY20 Revenue ($M) FY21 FY22 • Equipment OM% Designers and Manufacturers Semi Assurance of Supply Advanced Nodes Deployment 64#65Continually Delivering Profitable Growth What We Said at 2020 Investor Day Delivering strong results 1 consistently Capturing inflection points in 2 high-value automotive and first-to- market loT applications Leveraging innovation to Actions Taken & Results • Accelerated growth, captured market share, and expanded margins through growth strategies targeting high-value mega trends Delivered 12.5% revenue CAGR and 510 bps operating margin expansion from operational excellence initiatives (FY19-FY22) Broadened solutions across battery and automotive ecosystems • Accelerated growth through key bolt-on acquisitions: Verisco and Nordsys • Expanded into consumer technology, digital health, and industrial loT verticals maintain leadership and 3 enable tech advancements in semiconductor industry • • Strengthened leadership position in advanced semi technologies Leveraged market leadership position and deep customer collaboration to enable semi capability advancements Increased market share through "design-in" with our differentiated solutions • Driving leadership position in smart cars and new mobility infrastructure development and deployment 4 Well-positioned to unlock new opportunities and accelerate profitable growth ✔KEYSIGHT . Leveraging technology leadership to enable digital transformation in Al, IoT, cloud computing, ML, and 5G Capitalizing on broad technologies to develop solutions for smaller, more efficient, and integrated chipsets advancement Executed and delivered on commitments, capturing new opportunities 65 55#66Capturing Opportunities from Industry Mega Trends مراك Acceleration in Digitization Immersive technologies expected market growth >38% CAGR 1,2 Digital health market to increase 3X from 2021 to 20271 Growing government funding for advanced research (U.S. NSF, German Research Foundation, Japan 6G research fund, etc.) Emergence of Complex and Dynamic Ecosystem Automotive Industry Evolution ICE to EV transition gains pace Continued investment in AVIADAS increases road safety Electronic and SW content of vehicles increasing with new architectures; electronics expected to be -50% of new car cost by 20301 Growing New Mobility Development and Deployment . Semiconductor Next-Gen Innovation Government investments (U.S. CHIPS Act, EU Digital Compass 2030, etc.) Advanced nodes development and deployment (7nm-5nm-3nm-2nm) "More than Moore" IC driven by the deployment of 5G, IoT, immersive technologies, and automotive evolution Demand for Smaller, Power Efficient, and Highly Integrated Chipsets Increasing market share by capitalizing on emerging technology advancements and expansion ✔KEYSIGHT 1. Based on market research and company estimates; 2. 2020-2030 66#67EISG Profitable Growth Strategy + Enable Smart Applications in General Electronics Driving innovation and expanding into new emerging verticals Advance Innovation for New Mobility Expanding first-to-market solutions for electric vehicles and autonomous vehicles, and customer base Capitalize on Semiconductor Next-Gen Development and Expansion Capturing greater wallet share of global chip investments, and enabling advanced chipset development and deployment End-to-end solutions across physical, protocol, and application layers Drive operational excellence and continuous improvement through Keysight Leadership Model and best practices Why We Win: Our sustainable competitive advantages • . Market Leadership: First-to-market solutions & technology differentiation Deep customer relationships Diverse culture and talent ✔ KEYSIGHT 67#68Enable Smart Applications in General Electronics Innovation and differentiation + emerging megatrends . Market Focus and Opportunities Digitization, edge computing, and big data drive high-speed, low-latency technology and security • Investments in high-speed digital technologies (HDMI 2.1, PCle, USB) and new frequency bands (6GHz, mmWave) development supporting immersive tech evolution • Growing emerging loT applications with digital transformation – consumer, smart manufacturing, digital health, digital classroom learning • - Technology research focusing on sub-THz spectrum, quantum, next-gen communications, advanced material, and devices development STRATEGY TO WIN • • Drive Innovation in Emerging Verticals Target connected consumer devices and industrial automation for manufacturing test, battery test, high-speed digital, and regulatory compliance & standards Expand digital health into connected medical devices and new imaging modality Focus on academia advanced research in emerging technologies and new cloud-enabled software solutions for hybrid and digital learning ⚫ Capture significant opportunity by scaling and expanding margins across broad customer base Accelerate speed-to-market by leveraging Keysight's broad portfolio across diverse set of customers ✔KEYSIGHT 68 80#69Emerging High-Growth Verticals Accelerate speed-to-market by leveraging our broad portfolio Smart mobility, smart energy Immersive Reality Smart Manufacturing Consumer loT Devices Digital Health CUSTOMER APPLICATIONS FOR HIGH-GROWTH VERTICALS manufacturing of loT devices High-speed digital connectivity compliance testing for new embedded industrial controllers . Design validation and • High-fidelity audio and video interfaces in next-gen gaming/TV Regulatory compliance of 6GHz wireless technology deployment and access Reliability/quality testing of mission-critical smart sensors in R&D and manufacturing • (connectivity, co-existence, continuity, cybersecurity, compliance, customer experience) Development and compliance of wireless technologies (Bluetooth, ZigBee, WiFi) • Wireless and battery life for resilient operations of connected medical devices Embedded VNA technologies in new POC medical imaging (incubating for commercialization) Academia Advanced Research • • • Al-assisted comms network Panasonic LG NXP Simplay Labs Rockwell Automation SECO SICK Canon Epson Harmonic Vimta Midea EMVision Medtronic Starkey Advanced material science for sub-THZ IC, sustainable material, nanotech semi, advanced composite, quantum devices Biomed engineering and POC transformation Nanyang Technological University Singapore McGill University DIFFERENTIATED SOLUTIONS LEVERAGING KEYSIGHT TECHNOLOGIES AND EXPERTISE HDMI Compliance Test Solution PathWave Advanced Design System USB/DDR/PCle Compliance Test Solution IoT Device Battery Life Optimization Solution loT Wireless Test Solution IoT Battery Life Optimization Solution Regulatory Compliance Test Solution, WiFi-6E ✔ KEYSIGHT lloT Sensor Battery/Energy Domain Analysis Software Manufacturing In-circuit Test System + Analytic EMC Compliance Test Solution Embedded VNA Module M8000 Series AWG system PNA Network Analyzer Infiniium UXR Oscilloscope 69#70Advance Innovation for New Mobility Customers and solutions expansion + first-to-market Market Focus and Opportunities - Increasing ICE vehicles to EV transition – opportunity due to government-driven shift away from ICE • U.S. goal of 50% ZEV for light vehicle sales by 2030, 100% for California by 2035; EU and China to ban ICE by 2035 • New entrants without ICE legacy challenge incumbent OEMs Growing ADAS investment and continuing work on higher levels of autonomy Technology advances increase electronic content: ECU production volume 12% CAGR (2022-2025)1 Semi shortage: 50% of top 10 automotive OEMs will design their own chips by 20252 STRATEGY TO WIN . Capture Investments in New and Future Mobility • First-to-market AV solutions leveraging Keysight's strengths for ADE, C-V2X, and automotive ethernet platforms • Expand EV test solutions to battery test • • ecosystems, charging and discharging infrastructure Acquire or partner to increase customer base and regional penetration Drive operational excellence in design, emulation, and test capabilities to enable industry evolution Drive leadership and advancement in fast-growing new mobility automotive ✔KEYSIGHT 1. Source: IHS; 2. Source: Gartner 10 70#71Keysight Automotive and Energy Solutions Enabling Transition to New Mobility Ecosystems Grid 7/2 Charging Station GB/T, ChaoJi, CCS, Chademo Battery/BMS Invertor Photovoltai Invertor C H /~ SiC/IGBT Power Battery EV Ecosystem • Smart Grid • Battery Cell, Module, Pack, BMS • Invertors, Power Train • Charging • Photovoltaic ✔ KEYSIGHT • Cellular GNSS Cellular PC5 Lidar PC5 Front Camera(s) + M L V Autonomous Driving C-V2X, 4G, 5G Radar, Lidar WiFi, Bluetooth, TPMS, Keys Autonomous Drive Emulation ECall & ERA-GLONASS Cybersecurity Front Radar(s) PPP looo བ-- C-V2X LTE, 5G GNSS Telematics Rear Camera(s) Sensor Bus Actuator Bus A Rear Radar(s) Drive Train Side Radar(s) In-Vehicle Systems Automotive Ethernet High-speed Digital Bus, SerDes, MIPI A-PHY VCU, Domain ECU/MCU • CAN & CAN-FD LIN, SENT, MOST, FlexRay 71#72EV | Enabling Customer Success with Industry-First Solutions • EV Battery EV Demand is Driving Investments • Battery performance is key to OEM success • • Push for best price/performance - battery packs drive cost, range, performance, and charging time High-Performance Solutions from Cell to Pack Level Enable assessment of performance, quality, and safety Industry-leading energy efficiency minimizing operational costs; >96% energy regeneration • Software-driven test automation and workflow management • The intensive exchange with Keysight on a very professional level and their deep understanding of our needs make Keysight the perfect partner to jointly drive this project to success. DR. FREUNDT Head of Battery Testing and Validation at ElringKlinger AG ୨୨ EV Charging Expansion of Global EV Infrastructure Robust and easy consumer experience Investment into DC fast charging to optimize charging time and experience Government funded infrastructure investments (U.S. >$5B in NEVI Formula funding, EU €280B for charging) Only Solution to Cover All Global EV Charging Standards (CCS, CHAdeMo, Bharat, ChaoJi, GB/T) Accelerated use case and conformance test coverage through Verisco acquisition Ready to address latest vehicle-to-grid / vehicle-to-infrastructure GG Partnering with Keysight enables DEKRA to better serve an automotive industry with solutions in an area where the energy grid meets the automotive world. BEAT KREUTER VP of Business Line Product Safety Testing at DEKRA ✔ KEYSIGHT ୨୭ 72 12#73AV | Enabling Customer Success with Industry-First Solutions Automotive Radar ADAS Functions are Build-on Radar Modules • Automotive radar is considered critical for AV/ADAS Future vehicles will have 6-12 radar modules Multi-Award-Winning Radar Scene Emulation Enables New Levels of Testing • Address missing link between simulation and road testing • Enable repeatable tests under real-world conditions with real sensors • • Emulate complex, full-scene roadway scenario in a lab environment Wider FOV: ± 70 horizontal, ± 15 vertical, 1.5 meters minimum distance • Real-world complexity: up to 512 reflections (higher and dynamic resolution) KEYSIGHT ✔ KEYSIGHT GAVIADAS functions are becoming more intertwined with each other, which makes it important for us to explore the means of simulating the sensor for use on the testing bench and making decisions as early as possible. MARC PAJON Expert Leader of Testing & Measurement Technologies at Groupe Renault (()) Vehicle-to-Everything (V2X) Communication Essential for AVS •⚫ Non-line-of-sight communication is critical especially in highly condensed, urban driving scenarios • Leverage existing communication infrastructure • Regional, standard driven implementations Only Solution to Cover Test Cases from Lab to Field • Leverage Keysight's 5G communication leadership Broadest solution portfolio through Nordsys acquisition Simulate and emulate complex non-line-of-sight drive profiles Support for all regional standards (DSRC, C-V2X) 88888886 ୨୨ GG Congratulations to Keysight for being the first to achieve OmniAir Qualification for their C-V2X test system. Working together with industry partners like Keysight allows OmniAir to offer the world's first testing and certification program for C-V2X radios. JASON CONLEY Executive Director of OmniAir Consortium ワワ 73#74Capitalize on Semiconductor Next-Gen Development and Expansion Leadership + differentiation + adjacent applications Market Focus and Opportunities Digital transformation drives continuous demand for next-generation semiconductor technology Regional strategic chip investments for supply decoupling, self-sufficiency, supply resilience, and technology leadership • U.S.: CHIPS Act, FABS Act • India: Semicon India Program EU: Digital Compass 2030 • South Korea: K-Belt Semiconductor Strategy Advanced nodes and mainstream expansion with new fab investments Early product validation for "More than Moore" wafer test TIIT STRATEGY TO WIN Strengthen Market Leadership • Enable advanced nodes development and deployment through close collaboration with industry leaders Expand into adjacent applications for integrated IC wafer testing • • Capture greater share of customer spending in global semiconductor investments • Drive operational excellence and increase margins with leading technology and scalability through first-to-market solutions ✔KEYSIGHT Highly differentiated solutions enabling leading-edge semiconductor evolution 74#75Semiconductor Next-Gen Development and Expansion Advanced Nodes Development Next-Generation Parametric Test Development "More than Moore" Application • Higher density testing • Faster test speed with µA low current • Faster current-voltage pulse measurement Enabling next-gen semiconductor equipment with advanced optical capabilities and positioning metrology solutions Partnering with key customers on new disruptive technologies to support 3nm and beyond Leverage Keysight technologies and application-specific components to provide first-to-market solutions for integrated chipset testing Enable silicon photonic, mmWave, and power semi at wafer acceptance test Provide modular, scalable, and application-specific solutions with PathWave semiconductor test software WXEVSIGHT P000 Series Keysight P9000 Series Massive Parallel Parametric Tester Keysight Silicon Photonics Wafer Level Test System ✔KEYSIGHT Enabling innovation in semiconductor technology as complexity increases 75#76"More than Moore" Application Wafer Level Testing for Semi Capability Expansion . • Silicon Photonics First-to-Market Solution Optical transceivers for high-speed data transfer Better reliability and efficiency for ever increasing network traffic, 5G, cloud, and data center mmWave First-to-Market Solution mmWave (5G, radar) device test at wafer level for cost efficiency Best measurement technology for fully automated mmWave wafer test solution Power Semi Most Complete Solution Industrial/automotive devices utilizing WBG technologies Provide safe, accurate, and fast test solution for time-to-market • Parallel Reliability Test Most Effective Solution Guarantee reliability of mission critical devices by accurate stress and measure testing in parallel High count parallel (>100) and accurate test solution to rapidly determine outliers Modular, scalable, and application-specific solutions with PathWave semiconductor test software ✔ KEYSIGHT 76#77Key Takeaways 1 Executing a clear strategy to extend consistent track record of sustained profitable growth 2 Capitalizing on industry mega trends in digitization, new mobility automotive, and next-generation semiconductor innovation 3 Accelerating speed-to-market by leveraging breadth and depth of technology expertise across diverse and fast- growing markets 4 Outperforming the market by maximizing installed base and expanding software solutions ✔ KEYSIGHT 77#78KEYSIGHT Holistic Customer Solutions through Software, Services & Sales Uniquely Positioned to Address Evolving Customer R&D Needs with First-To-Market Solutions Mark Wallace CHIEF CUSTOMER OFFICER#79Key Messages 1 Growing customer lifetime value and extending first-to-market leadership beyond the solution sale 2 Harnessing the power of our go-to-market approach to maximize customer success 3 Leveraging our compelling, customer-centric strategy to address evolving needs with a broad portfolio of innovative solutions ✔ KEYSIGHT 79#80Sustaining Growth, Differentiating Keysight FY22 Highlights 30K+ $6B 33% 14% Customers served annually Total orders Core order growth Software & services sales (% of total) • GLOBAL TEAM SERVING CUSTOMERS 34% 1 Americas 22% Europe R&D and Technical Sales Teams Are Close to Customers Industry-leading Technologies • • • 5,000+ R&D, solution, and service engineers globally near customers Deep connections with top research universities Thought Leadership • • 44% 1 • APAC Active in top standards bodies and industry consortia such as 3GPP, NIST, O-RAN- ALLIANCE, IEEE, NCSLI, and many more 140+ public customer collaborations • 3,800+ patents² and applications with 100s of invention disclosures generated annually Embedded with Market Leaders Diverse and deep customer relationships globally • Viewed as a trusted advisor and partner 500+ embedded account managers and solution engineers at industry-leading customers Scaling Across Ecosystems ✔ KEYSIGHT 1. % of >5,000 sales and services team members; 2. Patents awarded to Keysight and Keysight's business under Agilent and HP • . More customers seeking earlier and deeper engagements Global salesforce now extending strategic customer collaborations 80#81Delivering Strong Results: Actions in Place to Accelerate Momentum 1 2 What We Said at 2020 Investor Day Double frontline sales capacity at a lower cost per order dollar (CPOD) from FY16-FY22 Deepen customer relationships and focus on value selling to expand margin Actions Taken & Results • • • • • More than doubled our sales capacity • 47% increase in annual productivity at a 29% lower CPOD Deploying full sales capability to scale strategic customer collaborations Top 200 customers grew 35% Added over 6,000 new customers contributing >$900M Accelerated cadence of price increases 3 Grow services orders to exceed $600M Optimize global sales capacity with • 4 emphasis on recurring revenue from services and software Launch new offerings and 5 attached services upfront, adding recurring revenue ✔ KEYSIGHT . Achieved over $720M in services orders in FY22 Expanded solutions and subscription services 11% services and software order CAGR >14% recurring revenue CAGR from a shift to software subscriptions, support contracts, and enterprise agreements Launched solution services, now ramping in all end markets New offerings, including KeysightCare, are nearly 100% recurring revenue 28% services upfront order CAGR with a 60% attach rate Notes: Services figures represent the Keysight Global Services Organization, including repair, calibration, remarketed instruments, and new offerings such as KeysightCare. Referenced growth rates are FY19-22 unless otherwise noted. 81#82Harnessing the Power of Our Go-to-Market Approach Enabling customers to accelerate innovation ADDRESSING COMPLEX CUSTOMER CHALLENGES TIME TO MARKET R&D WORKFLOW COMPLEXITY Direct Sales Industry Solution & Products Direct Sales GLOBAL & REGIONAL DYNAMICS Standalone Software & Services Deepening and Expanding Engagements with Industry Leaders Bring next-generation technology to customers through solutions consisting of hardware, software, and services Apply market insights to guide investments in first-to-market solutions and grow wallet share Indirect Sales Scaling Enterprise Software and Services Sales Leverage the expanding portfolio of enterprise software to deliver continuing value to customers Increase enterprise subscription sales, grow annualized recurring revenue, and expedite integration of inorganic software sales channels Partners + eCommerce Improving Customers' Transactional Buying Experience Increase ease of purchasing solutions • Grow distribution and eCommerce faster than Keysight: >30% of business from new customers Maximize reach with >800 global partners ✔ KEYSIGHT 82#83Seizing Opportunities to Increase Software Revenue and ARR APPLICATIONS PROTOCOL >3x $1.1B 20% Driven by organic growth, select acquisitions, and our dedicated, global enterprise software salesforce 53% PHYSICAL Standalone Software Digital workflow solutions focused on PathWave design and simulation, automation, test, and assurance eggplant Quamotion cliosoft Solutions Software Software applications that unify multiple instruments into industry-specific solutions Anite scienlab ixia U What We Achieved ✓ Captured value through business model expansion and go-to-market capabilities ✓ Onboarded engineers to match solution selling and support skill requirements How We Will Grow ~$350M ECALABLE odoled (q|b) prisma SANJOLE 27% Instrument Software Organically grown software and applications pre-installed on Keysight instruments FY14 FY22 SW% of 12% Revenue SW ARR 31% 21% 48% ✔ KEYSIGHT . • Increase software portfolio through organic and inorganic investments Maximize cross-selling opportunities among go-to- market channels Solve customer challenges by co-innovating software solutions . Scale value capture through enterprise software sales Over the next 3 years, software order growth expected to continue to outpace overall Keysight 83 33#84Refresh Improving Customer Experience and Value Through Keysight Services Services enable a seamless experience, higher-value engagements, and efficiencies across customer lifecycle Customer Services Lifecycle Acquire and Setup LEGACY SERVICES Services Growth Drivers Expanding ARR Use 1 • KeysightCare Accelerate the momentum of KeysightCare's expansion from 60% to 80% of services purchased at point of sale Capture recurring value by doubling KeysightCare hardware and software renewal rate ✔ KEYSIGHT Calibration Repair NEW SERVICES KeysightAccess KeysightCare Education Customer Portal Managed and Optimization Services Test as a Service Optimize Maintain 3 2 Solution Services Expansion . Capitalize on the high growth of solutions Monetize our expertise to help customers solve more complex problems as they use our solutions to achieve desired outcomes Smart-Connected Customer Experience • Deliver a personalized, seamless, end-to-end, digital, post-sales customer service experience, enabled by smart-connected solutions and integrated services 84#85Ecosystem Spotlight Enabling Japan's advanced optical and wireless communications • Industry Challenge A team of commercial companies, including NTT and research institutes, was selected by the Japanese government to align the country's optical industry and develop a next-generation transmission system This team needed a strategic, global partner with expertise in global telecommunications and comprehensive optical and wireless solutions to emulate real-world environments in the lab Differentiated End-to-End Portfolio Keysight was selected as the key partner to provide a complete suite of optical solutions, enabling customer's time-to-market advantage The solution was a combination of best-in-class hardware, software, and Keysight experts placed in customer labs We are extending collaborations for each new government funding round in 400G, 600G, 800G, 1.2T, and now 1.6T • . Customer Outcomes Development and commercialization of high-capacity transmission systems with increased speed-to-market Keysight Bolstered position as #1 end-to-end solution provider for terabit test and first-to-market AWG Preferred supplier for the team for 1.6T and extending wireless work with Innovative Optical and Wireless Network (IOWNⓇ) Keysight is one of the most important companies who can assist our innovation 55 and without them, we could not have achieved the 800G to 2T proof of concept. DR. MASAHITO TOMIZAWA, Vice President, Head of NTT Device Innovation Center ✔ KEYSIGHT IOWNⓇ is a trademark or registered trademark of NIPPON TELEGRAPH AND TELEPHONE CORPORATION 85#86Key Takeaways 1 Accelerate customers' R&D success by extending first-to-market leadership beyond the solution sale 2 Enhance a seamless customer experience by harnessing the power of our go-to-market approach 3 Grow customer lifetime value and market share through our value-added software and services 4 Compound growth by leveraging our customer-centric strategy and broad portfolio of innovative solutions ✔ KEYSIGHT 86#87KEYSIGHT Financial Update Compounding Returns, Increasing Share in Growing Market, Expanding Margins, Improving Cash Generation and Financial Resiliency, and Sustaining Growth Investments Neil Dougherty CHIEF FINANCIAL OFFICER#88Key Messages 1 Compounding returns significantly transformed financial performance 2 Increasing financial resilience well-positioned for varied macro environments 3 Leveraging consistent and disciplined capital allocation framework balancing organic growth, M&A, and return of capital 4 Continuing to raise the bar increasing long-term growth expectations and financial targets; committing to additional margin expansion Well-positioned to increase market-leading presence and capture additional share in a growing market ✔ KEYSIGHT 88#89Compounding Returns and Record Performance Driven by Strong Execution $2.86 • 10% +850 CAGR bps $5.42 65.0% 56.5% FY15 FY22 +1,120 18% bps CAGR 17% CAGR 18.1% 29.3% $959 $7.63 $296 $2.52 Revenue ($B)1 Balanced growth: 10% CAGR for both CSG and EISG >$1B annualized recurring revenue, ~21% FY22 revenue Gross Margin %1,2 Sustained favorable mix shift (R&D, software, services) driving higher gross margins Maintained gross margin in FY22 despite inflation Operating Margin %1,2 Strong execution leads to sustained margin expansion While more than doubling R&D investment and direct sales force since FY151,3 • Free Cash Flow ($M)¹ > 3X FCF growth since FY15 Supply chain dynamics unfavorably impacted FY22 FCF EPS1 Compounding returns through revenue growth, strong margins, and disciplined capital allocation Positioned for continued growth, margin expansion, and cash flow generation ✔KEYSIGHT 1. Non-GAAP measure, see appendix for reconciliations; 2. FY15 - FY18 operating margin and gross margin restated to reflect Q1'19 adoption of ASU 2017-07, "Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost"; 3. FY15 R&D investment was $387M 89#90Positioned to Outperform in Current Macro Environment Durable and resilient financial model -10% -300 to 400bps Operating Margin¹ Revenue Scenarios FY22 BASELINE Revenue $5.4B OM1 29% Enabled by a Flexible Cost Structure • • 100% of employees on variable pay ~50% of production is outsourced Model Durability Proven in 2020 Pandemic • • ~20%+ of sales via indirect channels • Strategic use of flexible staffing • NEW: Zero-based budgeting program to • drive efficiencies and synergies Flexible cost structure and financial playbook preserved margins and liquidity as planned Q2 FY20 revenue down 18% YoY, while maintaining 19% operating margin1, down only 520bps YoY; ~$900M FY20 FCF1 Strong topline growth leveraged cost structure for margin expansion through pandemic (FY20-FY22) . +5-7% 40% Core Operating Leverage² Resiliency of Financial Model Supported by: • Increased software and services (recurring revenue) Favorable and strong secular growth drivers (e.g., 5G/6G, new mobility, digitization) Strong free cash flow generation Flexible and defensive balance sheet • $2.5B backlog exiting Q1 FY23 ✔ KEYSIGHT 1. Non-GAAP measure, see appendix for reconciliations; 2. Core: Excludes FX and acquisitions or divestures completed within the last 12 months 90 00#91Strong Balance Sheet and Flexible Capital Structure Leverage Profile ($M) As of Q1 FY23 $750M Revolving Credit Facility 4.55% Senior Notes due 2024 Undrawn $600 • 4.60% Senior Notes due 2027 $700 3.00% Senior Notes due 2029 $500 ~$3B available liquidity $2.2B cash, cash equivalents, and restricted cash $750M revolving credit facility Committed to investment grade rating Gross Debt¹ $1,800 • Moody's Baa2 Net Cash1 $444 • S&P BBB Total Capital¹ $6,204 • Fitch BBB LTM Adjusted EBITDA $1,805 Gross Debt-to-Capital Gross Debt-to-Adjusted EBITDA 29% 1.0X Long-term gross debt-to-EBITDA target of ~2X Enables strategic flexibility in current macro environment ✔KEYSIGHT 1. Non-GAAP measure, see appendix for reconciliation 91#92Remain Committed to Our Operating Model 1 Long-term secular growth drivers 40% 2 Continued gross margin expansion Operating Leverage at 5% or Greater Core Revenue Growth1 3 Sustained growth investment while leveraging infrastructure 4 Strong FCF conversion 5 Disciplined capital deployment to further drive value Continue to compound earnings ✔KEYSIGHT 1. Core: Excludes FX and acquisitions or divestures completed within the last 12 months 92 32#93Increasing Keysight's Core Growth Expectation to 5-7% In an attractive and growing $21B market with $5B+ adjacent opportunities EISG FY22 Market Size CSG EISG Commercial Comms Aero, Defense & Gov't Electronic Industrial Total Raising Market Growth Expectations Long-Term Secular Growth Trends Commercial Comms Wireless: 5G/6G Wired Optical: 400G/800G / 1.6Tb $5.9B Total LT Market Growth Rate 4-6% 3-4% 4-6% 4-6% $20.9B $9.8B Aero, Defense and Government FY22 Revenue $2.6B $1.2B $1.6B $5.4B $5.2B Increasing Defense Spending CSG Core CAGR Since FY191 Market 5% ✔ KEYSIGHT Position² #1 #1 #1 #1 New Space & Satellite Electronic Industrial New Mobility (EV/AV) KEYS Share2 ~27% ~23% ~27% ~26% 8% Semi Assurance of Supply Digitization Expect Keysight to continue to outperform the market by 100-200 bps 1. 2020 Investor Day: Market growth: 3-5%, targeted outperformance: 1-2 ppts, Keysight growth: 4-6%. Core revenue growth excludes the impact of acquisitions, divestitures, and currency; 2. Per company estimates 93 33#94Driving Continued Margin Improvement Favorable Mix Shift Expanding R&D Mix¹ EXPANDING 54% 34% 12% R&D Manufacturing Operations EXPANDING Growing Software and Services¹ Increasing Recurring Revenue¹ 12% 67% 21% Hardware Software Services EXPANDING 21% 79% Non-recurring Recurring Strategy Impact ☑ First-to-market ☑ Solution differentiation monetization ☑ Execution ✓ productivity Drive salesforce ☑ Leverage scalable low-cost infrastructure ☑ ✔ KEYSIGHT 1. As of FY22 Culture of continuous improvement Selective vertical integration Supply chain management HE 94#95Consistent and Disciplined Capital Allocation Priorities 1 Sustained Investment to Drive Organic Growth • • • R&D: Sustained investment at -16% of revenue Sales: Channel capacity, strengthen SW and e-commerce capabilities Capex: Increase capacity and enable ongoing technology differentiation; FY22 ($185M), FY23E ($250M), and FY24E ($225M); $200M/yr. thereafter 2 Disciplined M&A Accelerate value creation through M&A aligned to strategic and financial criteria Robust funnel in adjacent markets aligned with targeted growth opportunities 3 Return of Capital ~ NEW $1.5B share repurchase authorization $0.3 $0.3 Free Cash Flow ($B) $1.1 $1.1+ $0.9 $0.9 $1.0 $0.4 $0.3 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23E Cash Utilization (FY15 - FY22) 5% 15% ■ Acquisitions $6.5B 45% ■Share Repurchase ■Capex 35% ■ Other Offset dilution from equity-based compensation Opportunistic repurchases as a function of liquidity, valuation, and M&A outlook Enabling value creation and compounding returns ✔KEYSIGHT Supply chain dynamics unfavorably impacted FY22 FCF 95 95#96Disciplined M&A Strategy Strategic Filters • Increases addressable market • Offers high software content and/or high recurring revenue • Expands portfolio of high-value solutions • Augments talent and solutions capability Financial Criteria . • ROIC above cost of capital • Accretive to growth and gross margin • Revenue and cost synergy opportunities ✔KEYSIGHT Anite ixia SANJOLE .prisma SCALABLE NETWORK TECHNOLOGIES MICRAM telecom testing eggplant Quamotion cliosoft Make your app shine Signadyne (b) quantum scienlab electronic systems benchmark nordsys® NORDDEUTSCHE SYSTEMTECHNIK Labber QUANTUM Verisco steet art Con Electroservices PSNA Enhancing software and solutions capabilities Liberty Calibration Swiss-Micron THALES Australia Calibration Services 96#97Continuing to Raise the Bar Increasing long-term financial targets 1 2015 Investor Day 2018 Investor Day 2020 Investor Day 2023 Investor Day Increase vs. Prior Target Core Revenue Growth² Sustainable 4% Sustainable 4-5% Sustainable 4-6% NEW Sustainable 5-7% +100 bps Gross Margin 61-63% 64-66% NEW 66-67% +100-200 bps 21-22% Operating Margin 17-18% (by FY21) 26-27% (by FY23) NEW 31-32% (by FY26) +500 bps Core Operating Leverage² 40% 40% 40% 40% Maintained EPS Growth 8-10% ≥10% ≥10% ≥10% Maintained ✔ KEYSIGHT 1. Non-GAAP measures, see appendix for reconciliation; 2. Core: Excludes FX and acquisitions or divestures completed within the last 12 months 97 46#98Key Takeaways 1 Compounding Returns 17% EPS1 CAGR since company spin with runway ahead 2 Increasing Financial Resilience Well-positioned for a variety of macro environments 3 Disciplined Capital Allocation Balancing organic growth, M&A, and return of capital 4 Continuing to Raise the Bar Increasing long-term growth expectations and financial targets ✔ KEYSIGHT 1. FY15-FY22, non-GAAP measure, see appendix for reconciliations 98#99KEYSIGHT Q&A Session#100KEYSIGHT Closing Remarks Satish Dhanasekaran PRESIDENT & CHIEF EXECUTIVE OFFICER#101Key Takeaways 1 Market Leader Strong track record of value creation enabled by high-performance culture centered on innovation 2 Consistent Software- Centric Solutions Strategy First-to-market solutions to address customers' most complex design and test challenges 3 Attractive and Growing Market Investing to accelerate innovation across diverse end markets with SAM expansion opportunities 4 Compounding and Resilient Business Raising long-term expectations with continued focus on value creation and market outperformance ✔ KEYSIGHT 101#102WKEYSIGHT#103KEYSIGHT Appendix#104Reconciliation of GAAP to Non-GAAP Revenue ($M) FY22 FY21 FY20 FY19 FY18 GAAP revenue $ 5,420 $ 4,941 $ 4,221 $ 4,303 $ Amortization of acquisition-related balances 9 Non-GAAP Revenue $ 5,420 $ 4,941 $ 4,221 $ 4,312 $ ✔ KEYSIGHT FY17 FY16 FY15 3,878 $ 3,189 $ 2,918 $ 2,856 36 60 12 6 3,914 $ 3,249 $ 2,930 $ 2,862 104#105Reconciliation of Income from Operations to Non-GAAP Income from Operations ($M) FY22 FY21 FY20 FY19 FY18 FY17 FY16 FY15 Income (loss) from operations, as reported $ 1,334 $ 1,080 $ 765 $ 711 $ (394) $ 148 $ 375 $ 390 Goodwill impairment 709 Amortization of acquisition-related balances 103 174 224 224 265 256 56 Share-based compensation 126 104 93 82 59 56 499 Acquisition and integration costs 9 9 13 9 49 57 18 Separation and related costs 2 20 24 2562 23 55 16 20 Acquisition-related compensation expense 28 Northern California wildfire-related impacts Restructuring and others 14 9 (32) 6 7 16 11 38 17 (7) 14 Non-GAAP income from operations GAAP Operating Margin Non-GAAP Operating Margin $ 1,586 $ 1,376 $ 1,069 $ 1,037 $ 735 $ 598 $ 515 $ 518 24.6% 29.3% 21.9% 18.1% 16.5% (10.2)% 4.6% 12.9% 13.7% 27.9% 25.3% 24.0% 18.8% 18.4% 17.6% 18.1% ✔ KEYSIGHT Prior years revised to conform with current year presentation. 105#106Reconciliation of Gross Profit to Non-GAAP Gross Profit ($M) FY22 Gross Profit, as reported Amortization of acquisition-related balances Share-based compensation expense $ 3,450 48 FY21 $ 3,069 118 FY20 FY19 FY18 FY17 FY16 FY15 $ 2,533 $ 2,534 $ 2,111 $ 1,697 $ 1,616 $ 1,576 175 177 219 217 50 21 23 19 16 14 12 11 11 12 Acquisition and integration costs 1 1 1 6 4 2 1 Acquisition-related compensation expense 1 Northern California wildfire-related impacts Separation and related costs 5 5 2 5 Restruturing & others Non-GAAP Gross Profit GAAP Gross Margin Non-GAAP Gross Margin 3 1 12 8 2 $ 3,522 $ 3,210 $ 2,725 $ 2,726 $ 2,365 $ 1,943 $ 1,681 $ 1,617 63.7% 65.0% 62.1% 65.0% 60.0% 64.6% 58.9% 63.2% 54.4% 53.2% 55.4% 55.2% 60.4% 59.8% 57.4% 56.5% ✔ KEYSIGHT Prior years revised to conform with current year presentation. 106#107Reconciliation of Non-GAAP Net Income and Diluted EPS ($M, except per share amounts) FY22 FY21 FY20 FY19 FY18 FY17 FY16 FY15 GAAP Net income (loss) $ 1,124 $ 894 $ 627 $ 621 $ 165 $ 102 $ 335 $ 513 Non-GAAP adjustments: Goodwill impairment 709 Amortization of acquisition-related balances 103 174 224 224 265 256 56 Share-based compensation 126 104 93 82 59 56 49 Acquisition and integration costs 9 9 12 11 49 67 བཅ 17 25 23 55 15 Acquisition-related compensation expense 28 Separation and related costs 2 20 24 24 20 20 Northern California wildfire-related impacts (32) 7 16 Restructuring and others 54 26 (14) (7) 39 (62) (7) 19 Adjustment for taxes (28) (43) 9 (29) (677) (21) (55) (213) Non-GAAP Net income $ 1,388 $ 1,164 $ 919 $ 902 $ 618 $ 462 $ 419 $ 432 Weighted average shares outstanding - diluted 182 187 189 191 191 182 172 171 GAAP Diluted EPS Non-GAAP Diluted EPS $ 6.18 $ 7.63 $ 4.78 $ 3.31 $ 3.25 $ 0.86 $ 6.23 $ 4.85 $ 4.72 $ 3.24 $ 0.56 $ 1.95 $ 3.00 2.53 $ 2.43 $ 2.52 ✔ KEYSIGHT Prior years revised to conform with current year presentation. 107#108Free Cash Flow ($M) Net Cash Provided by Operating Activities Less Investments in PP&E Free Cash Flow FY22 FY21 FY20 FY19 FY18 FY17 FY16 FY15 $ 1,144 $ 1,322 $ 1,016 $ 998 $ 555 $ 328 $ 420 $ 388 (185) $ 959 (174) $ 1,148 $ (117) 899 $ (120) (132) 878 $ 423 $ (72) (91) (92) 256 $ 329 $ 296 ✔ KEYSIGHT 108#109Reconciliation of Gross Debt, Net Cash, and Total Capital ($M) Senior notes, par value Gross Debt Less: Cash and cash equivalents Restricted cash Net Cash Gross Debt, as above Add: Shareholders' equity Total Capital ✔ KEYSIGHT As at January 31, 2023 $ SS $ (1,800) (1,800) 2,228 16 SA $ 444 1,800 4,404 SA $ 6,204 109#110Reconciliation of Operating Leverage Year-over-year Year-over-year Percent Percent ($M) Revenue Adjustments: Revenue from acquisitions or divestitures Currency impacts FY22 FY21 Inc/(Dec) FY21 FY20 Inc/(Dec) 5,420 $ 4,941 10% $ 4,941 $ 4,221 17% (11) (39) 116 (43) Core Revenue $ 5,525 $ 4,941 12% $ 4,859 $ 4,221 15% Income from Operations SA $ 1,586 $ 1,376 15% $ 1,376 $ 1,069 29% Adjustments: Income from acqusitions or divestitures 5 (4) Currency impacts 29 11 Core Income from Operations $ 1,620 $ 1,376 18% $ 1,383 $ 1,069 29% Operating Leverage 42% 49% ✔ KEYSIGHT 110#111Reconciliation of Net Income to LTM adjusted EBITDA ($M) LTM January 31, 2023 Net Income $ 1,155 Add: Provision for income taxes 197 Income before taxes $ 1,352 Add: Interest Income Interest Expense Depreciation and amortization EBITDA Add back: Non-GAAP adjustments Share-based compensation expense Acquisition and integration costs Restructuring and other Adjusted EBITDA ✔ KEYSIGHT (34) 78 219 $ 1,615 130 8 52 $ 1,805 111#112Non-GAAP Financial Measures Management uses both GAAP and non-GAAP financial measures to analyze and assess the overall performance of the business, to make operating decisions and to forecast and plan for future periods. We believe that our investors benefit from seeing our results "through the eyes of management" in addition to seeing our GAAP results. This information enhances investors' understanding of the continuing performance of our business and facilitates comparison of performance to our historical and future periods. Our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies, including industry peer companies, limiting the usefulness of these measures for comparative purposes. These non-GAAP measures should be considered supplemental to and not a substitute for financial information prepared in accordance with GAAP. The discussion below presents information about each of the non-GAAP financial measures and the company's reasons for including or excluding certain categories of income or expenses from our non-GAAP results. In future periods, we may exclude such items and may incur income and expenses similar to these excluded items. Accordingly, adjustments for these items and other similar items in our non-GAAP presentation should not be interpreted as implying that these items are non-recurring, infrequent or unusual. Non-GAAP Revenue generally relates to an acquisition and includes recognition of acquired deferred revenue that was written down to fair value in purchase accounting. Management believes that excluding fair value purchase accounting adjustments more closely correlates with the ordinary and ongoing course of the acquired company's operations and facilitates analysis of revenue growth and business trends. We may not have non-GAAP revenue in all periods. Core Revenue is GAAP/non-GAAP revenue (as applicable) excluding the impact of foreign currency changes and revenue associated with material acquisitions or divestitures completed within the last twelve months. We exclude the impact of foreign currency changes as currency rates can fluctuate based on factors that are not within our control and can obscure revenue growth trends. As the nature, size and number of acquisitions can vary significantly from period to period and as compared to our peers, we exclude revenue associated with recently acquired businesses to facilitate comparisons of revenue growth and analysis of underlying business trends. Free cash flow includes net cash provided by operating activities adjusted for investments in property, plant & equipment. Non-GAAP Income from Operations, Non-GAAP Net Income and Non-GAAP Diluted EPS may include the following types of adjustments: Acquisition-related Items: We exclude the impact of certain items recorded in connection with business combinations from our non-GAAP financial measures that are either non-cash or not normal, recurring operating expenses due to their nature, variability of amounts and lack of predictability as to occurrence or timing. These amounts may include non-cash items such as the amortization of acquired intangible assets and amortization of items associated with fair value purchase accounting adjustments, including recognition of acquired deferred revenue (see Non-GAAP Revenue above). We also exclude other acquisition and integration costs associated with business acquisitions that are not normal recurring operating expenses, including amortization of amounts paid to redeem acquiree's unvested stock-based compensation awards, and legal, accounting and due diligence costs. We exclude these charges to facilitate a more meaningful evaluation of our current operating performance and comparisons to our past operating performance. Share-based Compensation Expense: We exclude share-based compensation expense from our non-GAAP financial measures because share-based compensation expense can vary significantly from period to period based on the company's share price, as well as the timing, size and nature of equity awards granted. Management believes the exclusion of this expense facilitates the ability of investors to compare the company's operating results with those of other companies, many of which also exclude share-based compensation expense in determining their non-GAAP financial measures. Restructuring and others: We exclude incremental expenses associated with restructuring initiatives, usually aimed at material changes in the business or cost structure. Such costs may include employee separation costs, asset impairments, facility-related costs, contract termination fees, and costs to move operations from one location to another. These activities can vary significantly from period to period based on the timing, size and nature of restructuring plans; therefore, we do not consider such costs to be normal, recurring operating expenses. We also exclude “others”, not normal, recurring, cash operating income/expenses from our non-GAAP financial measures. Such items are evaluated on an individual basis, based on both quantitative and qualitative factors and generally represent items that we do not anticipate occurring as part of our normal business. While not all-inclusive, examples of such items would include net unrealized gains on equity investments still held, significant non-recurring events like realized gains or losses associated with our employee benefit plans, costs and recoveries related to unusual events, gain on sale of assets/divestitures, etc. We believe that these costs do not reflect expected future operating expenses and do not contribute to a meaningful evaluation of the company's current operating performance or comparisons to our operating performance in other periods. Estimated Tax Rate: We utilize a consistent methodology for long-term projected non-GAAP tax rate. When projecting this long-term rate, we exclude any tax benefits or expenses that are not directly related to ongoing operations and which are either isolated or cannot be expected to occur again with any regularity or predictability. Additionally, we evaluate our current long-term projections, current tax structure and other factors, such as existing tax positions in various jurisdictions and key tax holidays in major jurisdictions where Keysight operates. This tax rate could change in the future for a variety of reasons, including but not limited to significant changes in geographic earnings mix including acquisition activity, or fundamental tax law changes in major jurisdictions where Keysight operates. The above reasons also limit our ability to reasonably estimate the future GAAP tax rate and provide a reconciliation of the expected non-GAAP earnings per share for the second quarter of fiscal 2023 to the GAAP equivalent. Management recognizes these items can have a material impact on our cash flows and/or our net income. Our GAAP financial statements, including our Condensed Consolidated Statement of Cash Flows, portray those effects. Although we believe it is useful for investors to see core performance free of special items, investors should understand that the excluded costs are actual expenses that may impact the cash available to us for other uses. To gain a complete picture of all effects on the company's profit and loss from any and all events, management does (and investors should) rely upon the Condensed Consolidated Statement of Operations prepared in accordance with GAAP. The non-GAAP measures focus instead upon the core business of the company, which is only a subset, albeit a critical one, of the company's performance. ✔ KEYSIGHT 112#113KEYSIGHT Glossary#114Glossary of Terms Industry Terms 3GPP 5G, 6G 5G-AD 3rd Generation Partnership Project; standards organization that develop protocols for mobile telecommunications 5th and 6th Generations of wireless communications 5G-Advanced 5G Stand Alone; uses the 5G new radio access network on a new 5G network core 5G SA 400G/800G 400 and 800 Gigabits (billion bits) per second data rates AI/ML ADAS ADE ARR Artificial Intelligence/Machine Learning; the use of a system that perceive its environment and takes actions to maximize the chance of achieving its goals Advanced Driver Assistance Systems Autonomous Drive Emulation Annualized Recurring Revenue AV Autonomous Vehicle AWG Arbitrary Waveform Generator BMS Battery Management System CAGR CAN(-FD): CCS CFET CPOD CSP CU Compound Annual Growth Rate Controller Area Network (-Flexible Data-rate); a high-integrity serial bus system for networking intelligent devices; (-FD) data-communication protocol used for broadcasting sensor data and control information on 2 wire interconnections between different parts of electronic instrumentation and control system Combined Charging System Complementary Field Effect Transistor Cost Per Order Dollar Communications Service Provider Centralized Unit; a centralized unit connected between the 5G core network and the DUS ✔ KEYSIGHT 114#115Glossary of Terms Industry Terms Cellular Vehicle-to-Everything Device-to-Device Direct Current Diversity, Equity, and Inclusion A computer model designed to accurately reflect the behavior and performance of a physical object or system Department of Defense Dedicated Short-Range Communications C-V2X D2D DC DEI Digital Twin DoD DSRC DRAM Dynamic Random Access Memory DU ECU EDA Emulation E-O ESG EV FinFET Fin Field Effect Transistor Distributed unit; includes both baseband processing and RF functions. Each DU is able to support one or more cells, while each cell is able to support one more beams. DU can support a range of mobility scenarios Electric Control Unit Electronic Design Automation; software tools for circuit design and realization A simulation that also accounts for all the interactions and processes of how a system is implemented, such as seeking to operate in the same way as the system it is mimicking Electro-Optic Environmental, Social, and Governance; a set of metrics to track progress in CSR Electric Vehicle FOV FWA ✔ KEYSIGHT Field of View Fixed Wireless Access; technology that uses radio waves to send high-speed signals that offer data transfer to and from consumer devices 115#116Glossary of Terms Industry Terms Gate-All-Around GAA GNSS Global Navigation Satellite System GPS Global Positioning System GPU Graphics Processing Unit HAPS HBCU HDMI High-Altitude Platform Station; network of aerial stations that operate in the stratosphere at an altitude of around 17-20 km Historically Black Colleges and Universities High-Definition Multimedia Interface HPC High Performance Computing IC ICE Integrated Circuit Internal Combustion Engine ICT Information and Communications Technology IEEE Institute of Electrical and Electronics Engineers IGBT Insulated-gate Bipolar Translator; three-terminal power semiconductor device primarily forming an electronic switch lloT Industrial Internet of Things loT IOWN IP LEO LIN MCU ✔ KEYSIGHT Internet of Things Innovative Optical and Wireless Network; initiative for future communications infrastructure to create a smarter world by using cutting-edge technologies like photonics and computing technologies Intellectual Property Low Earth Orbit Local Interconnect Network; serial network protocol used for communication between components in vehicle Motor Control Unit 116#117Glossary of Terms Industry Terms MIPI A-PHY Long-reach Serializer-Deserializer Physical Layer Interface; physical layer interface for automotive applications, including ADAS, ADS and other surround-sensor applications, including cameras and in-vehicle infotainment (IVI) displays Millimeter Wave; radio frequency signals above 30 GHz Media Oriented Systems Transport National Conference of Standards Laboratories National Electric Vehicle Infrastructure Network Interface Card National Science Foundation Non-Terrestrial Networks; primarily satellite-based communications, such as Starlink or Viasat Optic-Electro Original Equipment Manufacturers mmWave MOST NATO North Atlantic Treaty Organization NCSLI NEVI NIC NIST National Institutes of Standards and Technology NSF NTN O-E OEM Open RAN от PCle POC QED-C QoS Q-STAR RAN RedCap Reduced Capability 5G Open Ratio Access Network; a standards-based, interoperable radio architecture Operational Technology Peripheral Component Interconnect express; a serial expansion bus standard for connecting a computer to one or more peripheral devices Point-of-Care Quantum Economic Development Consortium Quality of Service Quantum Strategic Industry Alliance for Revolution Radio Access Network ✔ KEYSIGHT 117#118Glossary of Terms Industry Terms Rel-17/18/19: RF Releases for 5G standards evolution Radio Frequency; the oscillation rate of communication signals at frequencies 20 kHz to 300 GHz RIC RU SAM SENT RU SerDes SiC Simulation SmartNIC Software test STEM RAN Intelligent Controller; a software-defined component of the Open RAN architecture that's responsible for controlling and optimizing RAN functions Resource Unit; a unit in OFDMA terminology used in 802.11ax WLAN to denote a group of 78.125 kHz bandwidth subcarriers used in both DownLink and UpLink transmissions Served Addressable Market; Keysight's chosen segments to serve Single Edge Nibble Transmission; a point-to-point scheme for transmitting signal values from a sensor to a controller Resource Unit; a unit in OFDMA terminology used in 802.11ax WLAN to denote a group of 78.125 kHz bandwidth subcarriers used in both DownLink and UpLink transmissions Serializer/Deserializer; a pair of functional blocks commonly used in high-speed communications to compensate for limited input/output Silicon Carbide A model that mimics some aspect of the real world, usually implemented in software, enabling different scenarios or process variables to be explored without impacting the real system Smart Network Interface Card; type of NIC card and programmable accelerator that makes data center networking, security, and storage efficient and flexible Software tools used to ensure compliance of software applications to design Science, Technology, Engineering, and Mathematics Software Tire Pressure Monitoring System UpLink Universal Serial Bus SW TPMS UL USB V2G VCU Vehicle Control Unit VNA ✔KEYSIGHT Vehicle to Grid Vector Network Analyzer; instrument that measures the frequency response of a component or a network composed of many components 118#119Glossary of Terms Industry Terms VONR WBG ZEV Voice Over New Radio Wide Band Gap; semiconductor materials which have a larger band gap than conventional semiconductors Zero-Emissions Vehicle Keysight Specific Terms Communications Solutions Group CSG EISG Electronic Industrial Solutions Group KLM PathWave Keysight Leadership Model; the company's operating framework for value creation Keysight's proprietary software platform ✔ KEYSIGHT 119#120KEYSIGHT Speaker Bios#121Speaker Bios Satish Dhanasekaran PRESIDENT AND CHIEF EXECUTIVE OFFICER ✔ KEYSIGHT Satish Dhanasekaran is the president and chief executive officer of Keysight Technologies, a leading technology company that delivers advanced design, validation, and test solutions to help accelerate innovation to connect and secure the world. Since joining Agilent, Keysight's predecessor company, in 2006, Satish has held multiple leadership roles and helped shape the company's strategy. Most recently, Satish served as Keysight's senior vice president and chief operating officer with responsibility for market and technology research, the development of new technologies and solutions through the company's centralized technology organization and customer-facing solutions groups, as well as go-to-market functions. Before that, he led Keysight's Communications Solutions Group, a multi-billion-dollar global business that serves the communications ecosystem and aerospace defense industry. Satish and his team established Keysight's leadership in 5G and made significant contributions to accelerate technology adoptions in other critical areas, including 400G, quantum, and electromagnetic spectrum operations. Satish is passionate about advancing technology adoption rapidly through active industry body participation. He sponsors Keysight's participation on the United States Federal Communications Commission Technological Advisory Committee, is a member of the NextG Alliance, and participates in other industry standards bodies and consortiums. He holds a master's degree in electrical engineering from Florida State University and an executive education certification from The Wharton School of the University of Pennsylvania. 121#122Speaker Bios Neil Dougherty CHIEF FINANCIAL OFFICER ✔ KEYSIGHT Neil Dougherty is the executive vice president and chief financial officer of Keysight Technologies. He is responsible for Keysight's global finance operations, including tax, treasury, and investor relations. Before Keysight's separation from Agilent Technologies in 2014, Neil served in several roles at Agilent, including assistant treasurer, vice president, and treasurer. He also served as senior director of corporate development, the team responsible for domestic and international acquisitions and divestitures. Neil's experience includes business unit controllership positions at Agilent's predecessor company, Hewlett-Packard, as a financial analyst and held various management roles. Neil holds a master's degree in business administration from the University of Chicago Booth School of Business, and a bachelor's degree in economics from the University of California, San Diego. 122#123Speaker Bios Ee Huei Sin PRESIDENT, ELECTRONIC INDUSTRIAL SOLUTIONS GROUP ✔ KEYSIGHT Ee Huei Sin is senior vice president of Keysight Technologies and president of the Electronic Industrial Solutions Group. She oversees a $2 billion global business that addresses the automotive, energy, general electronics, manufacturing, education, and semiconductor industries. Huei Sin has more than 30 years of experience managing a broad portfolio of businesses in the general purpose, electronic measurement, and semiconductor industries. Previously, Huei Sin served as the vice president and general manager of Keysight's General Electronics Measurement Solutions business. During her tenure in this role, she drove the company's portfolio across the broad-based general electronics and education markets and expanded emerging Internet of Things applications across the ecosystems, while simultaneously working as the vice president of Keysight Education. Huei Sin's achievements include a proven track record of P&L growth, value creation strategies, portfolio development, leading company-wide efforts to establish strong relationships with universities and laying the groundwork to secure long-term preference for the Keysight brand from future customers and employees. Before Keysight separated from Agilent, Huei Sin served as vice president and general manager of the General-Purpose Electronic Measurement Division, leading its general-purpose electronic instruments and test tools area. 123#124Speaker Bios ✔ KEYSIGHT Ingrid Estrada CHIEF PEOPLE AND ADMINISTRATIVE OFFICER Ingrid Estrada is senior vice president and chief people and administrative officer of Keysight Technologies, as well as chief of staff. She ensures effective and efficient internal company operations and directs Keysight's global policies and programs which include employee development, compensation, benefits, staffing, workforce planning, HR systems, workplace strategies, global sourcing, and indirect procurement. Previously, Ingrid served as senior vice president of Human Resources for Keysight. Before Keysight split from Agilent in 2014, she served as vice president and general manager of Global Sourcing and vice president and general manager of the Remarketing Solutions Division. Ingrid also served as senior manager of manufacturing for Agilent's Wireless business unit and launched the Electronic Measurement Group supply chain transformation. Ingrid also worked for Agilent's predecessor company, Hewlett-Packard, where she held several procurement, order management, and order fulfillment positions, and various senior management roles in manufacturing, materials, and supply chain management. She holds a master's degree in business administration from Santa Clara University and an executive master's degree from Stanford University. 124#125Speaker Bios Kailash Narayanan PRESIDENT, COMMUNICATIONS SOLUTIONS GROUP ✔ KEYSIGHT Kailash Narayanan is senior vice president of Keysight Technologies and president of Keysight's Communications Solutions Group. He leads the multibillion-dollar global business that addresses the end-to-end communications industry, including wireless and wireline segments, and aerospace and defense. His team significantly contributes to accelerating technology adoptions of 5G, 400G/800G, electromagnetic spectrum operations, and space and satellite modernization. Previously, Kailash served as president of Keysight's Commercial Communications business, leading the company's wireless and wireline test programs, and driving substantial expansion in the 5G program. Kailash championed Keysight's outside-in approach and commitment to customer-centricity, emphasizing external partnerships and enabling customer innovation. Kailash's tenure with Keysight and its predecessors, Agilent, and Hewlett-Packard, spans more than 20 years. He has held different leadership positions and has been part of multiple business areas, including wireline backhaul, base stations, signal sources, wireless handsets, and fiber optics. He holds a master's degree in electrical engineering and computer science from the University of Illinois Chicago, and a master's degree in business administration from Walden University, Minneapolis, MN. 125#126Speaker Bios Mark Wallace CHIEF CUSTOMER OFFICER ✔ KEYSIGHT Mark Wallace is Keysight Technologies' senior vice president of global sales and chief customer officer, overseeing the company's sales, solution engineering, and channel partner operations. He holds responsibility for customer strategy and value capture for Keysight. Mark accelerates Keysight's customer-centric vision by enhancing the end-to-end customer experience; enabling customer success through the seamless delivery of first-to-market solutions to a diverse, global customer base; and expanding the company's go-to-market strategies across all regions and ecosystems. Mark has been with Keysight and its predecessor companies, Hewlett-Packard, and Agilent, for more than 35 years and has held multiple leadership positions spanning sales, marketing, and channel management. In 2016, Mark became senior vice president of global sales; his position expanded to include a new role as chief customer officer in 2022. From 2011-2016, he was vice president and general manager of the Americas field operations for Agilent and Keysight. Before that, he was Agilent's national sales manager for testing and measurement across portions of North America. After Agilent split from HP in 1999, Mark joined its wireless business, leading global marketing, and channel management functions. At HP, he served as a global business development manager in 1995. Mark started at HP in 1985 as an intern before joining the company as a field engineer and district sales manager. Mark received a bachelor's degree in electrical engineering from the Illinois Institute of Technology. He completed his executive studies at the University of Chicago. He is also a member of the Armour College of Engineering, Illinois Institute of Technology Advisory Board. 126