Sequans Capitalization and 5G Taurus Launch

Our Served Market Served Cellular loT Market ($ millions) $3,000 SAM Growth by Category CAGR $2,500 5-year CAGR $2,000 38% $1,011 $778 $582 Massive loT 34% $1,500 Broadband lot 40% $483 $1,000 $2,028 Total 38% $1,837 $1,543 $316 $500 $1,019 SAM excludes: $524 Smart phones/tablets, devices with 2G/3G fallback and China $0 2021 2022 2023 2024 2025 Broadband loT Massive loT SEQUANS Source: ABI Research, Techno Systems Research and Sequans' estimates O2023 Sequans Communications 6

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