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Investor Presentaiton

Highly Scalable Business Model >20% Operating Margin at Scale (non-IFRS) . Fabless semiconductor model is highly scalable . Required growth in opex is much lower than target revenue growth rate SEQUANS ($M) 200 150 100 50 Revenue & Operating Leverage Breakeven At Scale Gross Profit Opex Operating Income * Assumes no investment in new technology ©2021 Sequans Communications 19

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