Investor Presentaiton

Vertical Market Business Vertical Revenue • • Engineering service to adapt existing Broadband and Massive IoT platforms to non-cellular end markets High-margin service revenue ad small volume/high ASP product revenue • Typical engagement has initial 1-3 year development phase Service revenue recognized based on project percent of completion Development phase followed by long tail of maintenance and product shipments SEQUANS End Markets Typical Customers Satellite LOCKHEED MARTIN A Avionics JRC Japan Radio Co., Ltd. THALES MAMOTOROLA SOLUTIONS Public Safety, Military ABSIDE Networks ©2020 Sequans Communications 16

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