2019 Annual Revenue

January 30, 2020

2ATEME © 1991-2020

Disclaimer

This presentation does not constitute or form part of and should not be construed as any offer for sale of or solicitation of any offerto buy any securities of ATEME, nor should it, or any part of it, form the basis of or be relied on in connection with any contract orcommitment whatsoever concerning ATEME’s assets, activities or shares.

All statements other than historical facts included in this presentation, including without limitations, those regarding ATEME’sposition, business strategy, plans and objectives are forward-looking statements.

The forward-looking statements included herein are for illustrative purposes only and are based on management’s current views andassumptions. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks includebut are not limited to impact of external events on customers and suppliers; the effects of competing technologies competitiongenerally in main markets; profitability of the expansion strategy; litigation; ability to establish and maintain strategic relationshipsin major businesses; and the effect of future acquisitions and investments.

ATEME expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in thispresentation to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based,unless so required by applicable law. These materials are supplied to you solely for your information and may not be copied ordistributed to any other person (whether in or outside your organization) or published, in whole or in part, for any purpose.

3ATEME © 1991-2020

Presenters

Michel ArtièresFounder & Chief Executive Officer

Degree in Engineering from Supelec, Paris, with a specialization in signal processing and telecommunications

Fabrice Sana Chief Financial Officer

Degrees from the European Business School and ESSEC

4ATEME © 1991-2019

1.ATEME for beginners2. Market Trends

3. Financial Performance

4. Strategy

5ATEME © 1991-2020

ATEME Factsheet

36 Patents

300 people in 24 countries

700 clients in 100 countries

Public since 2014

66.4 M€ in 2019 (+18%)

ATEME designs software video compression solutions to enable innovative live or on demand video delivery

services while preserving picture quality.

Strategic partnerships

6ATEME © 1991-2020

A Complete Offer for the Complete Video Flow

Service Provider(Satellite, Cable, Telco)

Video Headend

Event

ContributionPrimary

DistributionDistribution

OTT / Multiscreen

Subscriber

CDNContent Provider

TV Network

Kyrion encoders in the trucks and decoders at the TV station

TITAN is a virtualized Video Headend software covering all Live and File needs

7ATEME © 1991-2019

1. ATEME for beginners

2.Market Trends3. Financial Performance

4. Strategy

8ATEME © 1991-2020

Sept 2015

$300-500M(5-7x Sales)

acquires

Sept 2015

$125M (4x Sales)

acquires

Dec 2015

€69M (1x Sales)

acquires

Consolidation Clearing the Way for ATEME

Essentially down from 7 to 4 Players

• Envivio partners are Ericsson competitors

• Redundant employees (Sales worldwide)

• Products end of life confusing clients

• Redundant employees (Rennes R&D) Ideal

Scenario

for ATEME

Jan 2018

acquires 51% of

and becomes

Oct 2018

acquires 100% of SPVTG

and becomes

• US service providers running away from their competitor (Amazon Prime Video)

9ATEME © 1991-2020

4K UHD TV Continues To Enjoy Significant Growth

Source : NSR – « Globl Satellite Capacity Supply and Demand, 16th edition – June 2019

From 148 UHD satellite TV channels in 2019 to ~ 700 by 2027

Sources : Futuresource and UHD Partners France

4K UHD TV shipments increased by

nearly 33% in 2018 and expected to

increase another 21% in 2019 and

16% in 2020.

2019 will be the first year that 4K

UHD TV shipments surpass non-4K

UHD TV shipments.

61% of North American households

will have 4K UHD TVs by end of 2019 96116

148

194

239

298

369

452

531

611

686

92131

159

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

NSR Forecast Actual Result

30% of French households today

have 4K UHD TVs

French 4K UHD

TV channels

AAGR2019-2027 :

+20%growth

10ATEME © 1991-2020

Higher Resolution Race for Attracting New Customers

Dec. 1st, 2018 :NHK launched the first 8K channel in the world with a broadcast of “2001: A Space Odyssey.”NHK to broadcast 2020 Olympic Games in 8K.

Disney+ to Offer D2C service in 4K HDRIn competition with Netflix, the service will offer resolutions up to 4K, with Dolby Atmos object-based sound, high dynamic range (HDR) support, and even support for Dolby Vision.

KT to provide real time 5G 8K video Trial for 2021 French Open Tennis tournament, by connecting the 5G network in South Korea and transmit it to Europe through the satellite.

One year after the full-scale technical test in UHD / HDR carried out in September 2018, ARTE launches a new experimental channel "ARTE HDR", produced from the HD signal, for an experimental period of one year. This new experiment will be carried out in partnership with :

11ATEME © 1991-2020

The Media Landscape

Studios/Broadcasters/NetworksCreated string brands in the 80’s-90’s

Service Providers (MVPDs) Historically, got the broader access to customer

SVOD or Ad-Supported VOD ServiceImpose Binge Watching as the Way to consume video

Virtual Service Providers (vMVPDs)New content or Skinny cost-effective bundlesNew

Entrants

Digital Native

Traditional Players

TV/STB native

Content ProvidersCreate/Produce/License Content

Service ProvidersAggregate/Distribute Content

12ATEME © 1991-2020

Challenges: Lost in Searching, Fragmentation, Subscription Fatigue

Where do I find this content ? (eg: Aquaman vs Avengers vs Peaky

Blinders)

Content Fragmentation

Will we pay for 10-12 services ?Again my ID/Password/Credit Card ??

(Player solving this issue in a diff Industry: WhatsApp)

Subscription Fatigue

13ATEME © 1991-2020

Opportunities: SPs Become OTT App Aggregators, Personalized TV

MVPDs (Comcast, LG, Canal+…) acting as OTT App Market Place

In some regions sensitive to credit card payment, they are also carrier billing

Personalized TV

aka Linear On Demand

‘’The great un-bundling could give birth to the great re-bundling’’, Matt Strauss, Chairman, Peacock and NBCUniversal Digital Enterprise

14ATEME © 1991-2020

The Power of Personalization

Source: The Trade DeskSource: Google

Source: Tivo

Reduce Churn Rate for Service Providers Customers are Looking for It

Increase Ads Revenue

15ATEME © 1991-2019

1. ATEME for beginners

2. Market Trends

3.Financial Performance4. Strategy

16ATEME © 1991-2020

2011 2012 2013 2014 2015 2016 2017 2018 2019

Q1 Q2 Q3 Q4

Revenues Evolution by Quarter

€37.5m

€28.6m

€12.3m

€17.9m€20.6m

€24.8m

IPO

€48.6m

+18%Organicgrowth

In 2019

+14%at constant

exchange rate

€56.5m

9.6

13.7

13.6

16.5

€ 66.4 m

15.4

15.2

18.1

21.0

17ATEME © 1991-2020

2019 Revenue Split and Growth by Region

EMEA37%

USA/Canada37%

LATAM14%

APAC12%

USA/CAN+33%

LATAM+37%

APAC-23%

2019 REVENUE SPLIT BY REGION 2019 REVENUE GROWTH BY REGION

-xx%at constant

exchange rate

+xx%at constant

exchange rate

+xx%at constant

exchange rate EMEA+19%

+26%at constant

exchange rate

+30%at constant

exchange rate

-26%at constant

exchange rate

Successful roll-out of multiyear engagements with key customers

18ATEME © 1991-2020

15 700 18 524

24 594

2017 2018 2019

USA & Canada

In €

K

+33%

+26%at constant

exchange rate

19ATEME © 1991-2020

18 593 20 621

24 535

2017 2018 2019

EMEA

In €

K

+19%

20ATEME © 1991-2020

7 995 6 602

9 024

2017 2018 2019

LATAM

In €

K

+37%

+30%at constant

exchange rate

21ATEME © 1991-2020

6 311

10 743

8 240

2017 2018 2019

APAC-26%

In €

K

-23%at constant

exchange rate

22ATEME © 1991-2020

IPO July 2014

20162015

2014

Growing Profitably Since 2016

2017

€12.3m

€-2.5m

€15.0m

€-1.6m

€16.3m

€0.0m

€12.9m

€-1.1m

€11.9m

€-0.9m

165

135

170

€22.5m

€3.6m

Revenues

Net Loss/Profit

220

€20.9m

€0.3m

€27.7m

€3.5m

2018

€23.2m

€-3.2m

252

€33.3m

€4.9m

2019

€30.1m

€-1.2m

300

€36.3m

23ATEME © 1991-2019

1. ATEME for beginners

2. Market Trends

3. Financial Performance

4.Strategy

24ATEME © 1991-2020

Prepare Expanding to CPs and SPs OTT delivery

Service Provider(Satellite, Cable, Telco)

Video Headend

PrimaryDistribution

Traditional Distribution

SubscriberCDN

Content ProviderTV Network

CDN

2 Enable new decentralized

distribution workflow for SPs

1 Enable CPs’ direct access

to consumers

OTT

Most of ATEME business today

Playout Compression Distribution

25ATEME © 1991-2020

Playout Brings Video Contents To Home

Live Streams

Video Files

Subtitles

Playlist

Graphics

PLAYOUT

Source : ESPN User Interface

26ATEME © 1991-2019

TITAN Business Model

Industry standard : Project based business model New business model : Multi-year Engagement

• TITAN pay-up perpetual licenses (1 license per SD/HD/UHD channel)

• Recurring Annual support 15-20%

• Optionally some clients source the servers from ATEME

ATEME benefit: revenue predictability

Customer benefit: guarantee their move to a new video compression vendor is future proof

Year1 Year2 Year3 Year4 Year5

*

*Optionally some clients source the servers from ATEME

“Recurring CAPEX”:

• Most clients need additional licenses for extensions• Largest clients operate in multiple sites or countries

Each project includes: Largest clients operate multiple video headends

We offer these clients to “drive” ATEME software roadmap against multi-year commitment

27ATEME © 1991-2019

Backlog and Recurring Revenue

BacklogMulti-Year Contracts

SLA

SLA to renew

Software lease contracts

€

OtherBacklog

Mo

nth

ly R

ecu

rrin

g R

eve

nu

e

Q1 Q2 Q3 Q4 2021 2022 2023

Starting 2020 with :• Monthly Recurring Revenue up 55%

(over €880,000 vs €570,000 in January 2019)• €8.4 million in multi year contracts (vs 0 in 2019)

28ATEME © 1991-2020

2020

2019Win the Video Head End market and prepare expanding to CPs and SPs OTT delivery

Gross Margin expected up(shift to software)

Increasing operating profit every year

Multi-year contracts leading to increasing predictability in topline growth (+20%), with contribution from all 4 regions

Outlook

S&M investments to

keep developing our

international coverage, but will

not grow as fast as the topline

R&D investments to

develop innovative

Network solutions, but will

not grow as fast as the topline

29ATEME © 1991-2020

Investor Relations

Next investor dates

Market data

ISIN: FR0011992700 - Ticker: ATEME

Stock price: €11.06 (as of January 29, 2020)

Market cap: €116m (as of January 29, 2020)

Concert Artières

12%Xavier Niel

5%

Keren Finance6%

Axa IM6%

Otus Capital5%

Others < 5%66%

Liquidity contract: Kepler Cheuvreux

Source : Company, as of December 31, 2019

Shareholder structureNumber of shares: 10,464,563Potential dilution : 297,188

Stock price (€)

Volumes(nb of shares)

March 26, 2020 2019 Year-End Results

May 6, 2020 2020 First Quarter Revenues

June 10, 2020 Annual Shareholders Meeting

July 16, 2020 2020 Half-Year Revenues

September 24, 2020 2020 Half-Year Results

November 5, 2020 2020 Third Quarter Revenues

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