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Investor PresentationMay of 2020

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Safe Harbor Statement and Merger Update

This presentation contains forward-looking statements relating to our expectations, plans and prospects. These statements are based

on information available to us at the time of this presentation and, by their nature, involve risks and uncertainties that could cause

actual results to differ materially from those described in the forward-looking statements. Risks and uncertainties associated with our

business are described in our annual report on Form 10-K for the period ending December 31, 2019 and any subsequently

filed periodic reports on Form 10-K or 10-Q. We assume no obligation to, and do not intend to, update any forward looking statements.

Customers who purchase our services should make sure that their decisions are based on features that are currently available. Please be

advised that any unreleased services or features referenced in this presentation or other public statements are not currently available

and may not be delivered on time or at all.

For details on the proposed merger between Qumu and Synacor, Inc., we encourage you to review our recent SEC filings which can be

found on the investor section of our website.

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Who is Qumu?

Qumu is the leading provider of best-in-class tools to create, manage, secure, distribute and measure the

success of live and on demand video for the enterprise.

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• Qumu provides best-in-class tools to create, manage, secure, distribute and measure the success of live and on-demand video within the enterprise

• We provide comprehensive and flexible connectivity inside or outside of the firewall

• We provide seamless integrations with existing video conferencing and collaboration tools to create, release, secure and distribute video

• We are trusted by Global 2000 firms in Financial Services, Manufacturing, Professional Services, Health Care and Telecom—when security is critical

• We are ranked as a Leader in the EV space in the Gartner Magic Quadrant

• We offer a flexible deployment model with Cloud, Hybrid and On Premise options

• Our Cloud (SaaS) platform is white labeled by partners to support live managed events, and to power learning management system (LMS) video platforms

Business Overview

Who is Qumu?

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High Level Overview

Headquarters: Minneapolis, MN

Full-Time EEs: 124

Ownership: NASDAQ: QUMU

Year Founded: 2002

Financials and Metrics

Global Employees

183 Enterprise Customer Deployments

64% of Customers Installed as Hybrid or Cloud

$19.25MM ARR in FY 2019

92% Customer Retention

>72% Gross Margin in FY 2019

San Francisco (19)

Minneapolis (26)

USA Remote (16) London / Europe (40)

Hyderabad (23)

Qumu by the Numbers

Key Customers and Partners

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1. Wainhouse Research: Enterprise Streaming and Webcasting Report, 2019

Market Leading Enterprise Video Platform

Attractive Market with Favorable Growth Trends

Marquee Customer Baseof Market Leaders

Improving Recurring Revenue Metrics

High-Margin Subscription Business

Experienced ManagementTeam with Deep Industry Roots

39.3%of Customers are Global 2000

$17.1M → $19.3M2018 → 2019 ARR

150+Years of Qumu Senior Leadership Experience

4+ Years Average Customer Tenure

92%2019 Customer Retention

Growing 2.5%+ YoY

124Total Full-Time EEs

66% → 72% 2018A → 2019A Gross Margin

$2.5B2019 Enterprise Streaming Market Size1

15.3% 2018–2022 Market CAGR1

Key Investment Highlights

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Qumu Analyst Summary

CurrentPlacements

Gartner: EVCM Leader

Aragon: EVCM Leader

Wainhouse: EVCM Leader

Aragon: VC Contender

* From an Analyst perspective, this is the best position we’ve ever been in as a company

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Qumu Customers

by the Numbers

• 72 members of the Forbes Global 2000

• 45 members of the Fortune 500

• 14 of the World’s Most Valuable Brands

• 28 of the Fortune Most Admired Companies

• All 5 of the Top 5 Credit Card Companies in the World

• 10 of the Forbes World’s Best Banks

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FinancialServices

Healthcare andLife Sciences

Manufacturing

ProfessionalServices

Telecom andTechnology

Customer Breakdown by Industry and Vertical

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All Qumu Customers by Installation Type

Hybrid15.5%

On Premise35.9%

Cloud48.6%

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All Qumu Customers by Region

APAC26.7%

EMEA29.0%

AMER44.3%

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All Qumu Customers by Industry

Other6.9%

Govt, Utilities & Nonprofit

6.8%Health & Life

Science7.9%

Telecom & Tech8.5%

Retail, Food & Bev9.1%

Pro Services10.2%

Manufacturing13.1%

Banking, Finance & Insurance

37.5%

The Market Before COVID-19

Market Sizing and Growth Through 2022The Technology Stack

EnterpriseVideo

VideoConferencing

Video Content

Mgmt

Video Streaming

Video Capture/Record

UnifiedComms

$39B growing to $65B

VideoContent

$4B growing to $6B

Collaboration$6B growing to

$11B

Content Mgmt

$6.9B growing to $11B

The Market Today

Market Sizing and Growth Through 2022The Technology Stack

UnifiedComms

?

VideoContent

?Collaboration

?

Content Mgmt

?

• Consolidation is happening

• Lines between technologies are becoming blurred

• The entire video collaboration space is being redefined as we speak

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Our WorldRight Now

Executives are being challenged with business continuity now more than ever

Employees are scrambling to remain productive in spite of travel restrictions, work at home mandates and canceled events

Enterprises across the globe are adjusting to what will very likely be a ‘new normal’

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What Does the ‘New Normal’

Look Like?

Enterprises are rethinking investments in travel and physical office space

Budgets are being adjusted for investment in new collaboration technologies, or the hardening of existing platforms

The secure, scalable and reliable streaming of video within the enterprise is becoming an ‘essential service’

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2020 Market Approach

Sales Channel Core Strategy

Global 2000

Global 10,000+ Vertical Applications

White Label / OEMSMB + Vertical Applications

Financial Services, Manufacturing, Telecom, Professional Services, Life Science, Government and Utilities

Webcasting, Employee Onboarding, Marketing Automation, Crisis Comms, Learning Management, Recruiting

BT, Whitlock, AT&T, Genesis, Yorktel, VCube

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Sales Execution and New Customer Growth Increase volume of qualified leads into sales pipeline Secure top rankings with industry analysts and influencers Invest in top management and sales talent globally Expand channel efforts

Sales Execution and New Customer Growth

Customer Success and Retention

Financial Strength

Market-Focused Product

Innovation

Technical and Operational Excellence

Strong Financial ResultsCustomer Success and Retention

Dedicate management to all accounts Improve retention rate to 92% Convert customers to intelligent hybrid platform Focus on the message of distributed computing

Market-Focused Product Innovation Build on our strengths of Delivery and Extensibility Deliver an Intelligent Video Platform—including architecture,

features and functionality to address self-service and distributed computing within the enterprise

Financial Strength Continuous improvement of operating expenses Deliver new revenue streams via partners Enhance Balance Sheet

Four Core Pillars for Success

Growth Strategy

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What isthe Qumu Enterprise Video as a

Service Platform?

1. A Full Stack Solution

2. Scalability

3. An Open Architecture

4. Extensibility

5. Use Case Flexibility

6. Security

7. Self-Service

EVaaS™ is a Comprehensive Set of Enterprise Video Services with the Following Components:

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The Qumu PlatformEdge Computing

Peer-to-PeerPublic CDN

WebRTCeCDN

Conferencing AppsDesktop WebcamsStudio EncodersMobile DevicesUC Platforms

iPTVDigital SignageLearning ManagementLive and VOD CaptioningVideo Conference Streaming

AnalyticsWorkflowsTranslation

TranscriptionSpeech-to-Text

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The Qumu Platform

Marketing AutomationLearning Management

ECM and WebsitesSocial Business

CRM

WhitlockAVI-SPLYorktelVcube

IGELPexipCitrixHive and KollectiveMicrosoft and Zoom

BTAT&T

Vodafone

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Mobile

Desktop

Screen Capture

Slide Capture

Studio

Unified Comms

Live Events

File Upload

Mobile

Desktop

Public Display

Website

Portal

Intranet

Content Mgmt

Portals

Speech Search

AnalyticsRest APIs

Content Creation

Encoding

Transcoding

Cloud | On Premise | Hybrid

An End-to-End Intelligent Video Platform

Pathfinder

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Professional Services as a Revenue Component

VideoManagement Video

Delivery

UnifiedComms

ProfessionalServices

Implementation Custom Portals Mobile Apps

Advanced Reporting Load Testing Data Migration

APIs Consulting Platform Audits

Partner Integrations Live Event Support Training

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2020 Financial Update

Key HighlightsFinancial Summary• YTD revenue is $6.2 million vs. $7.1 million in the first quarter

2019. PY included large term license renewals, for which the revenue is recognized up front. During the last weeks of March 2020, Qumu received customer orders of $9.7 million total contract value, which were directly attributable to the new working environment caused by the pandemic COVID-19. Of the $6.2 million in Q1 revenue, approximately $0.5 million in revenue was attributable to a large customer order. We expect to recognize revenue from this order of approximately $3.8 million in the second quarter 2020, subject to Qumu’sfulfillment of its delivery and deployment obligations.

• YTD gross margins were 66.5% vs 78.3% in the first quarter 2019, due primarily to product mix

• Renewal rate is performing well at 90%

• Cash remains strong at $8.4 million as of 3/31

Building Momentum Drives Strong First-Half 2020 Results

COVID-19 has been an unprecedented change agent, leading to increased bookings and sales activity, giving us confidence for 2020. Improved execution around the perpetual license to SaaS transition is underway along with top-line growth, strong margins and customer retention. Qumu

has repaid its ESW Credit Facility and repurchased a warrant for 925,000 shares to further improve its balance sheet and capital structure.

High degree of confidence in 2020 revenue guidance, as YTD revenue included a small portion of a multi-million dollar contract, which will also deliver significant revenues in Q2, as well as in the second half of 2020

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Investor Contact

Information

Dave RistowChief Financial Officer

Qumu Corporation

Dave.Ristow@qumu.com+1.612.638.9045

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Appendix

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• On Premise - Traditionally, most large-scale corporate streaming deployments in high-security or compliance-heavy industries fall into this category. All hardware and software is housed in a data center owned and maintained by the enterprise, and the corporate IT team is responsible for managing the solution.

• Cloud (SaaS) - Hosted streaming solutions are deployed in a Qumu data center. Qumu is responsible for product maintenance and upgrades. The enterprise receives all available features and product releases, but pays a subscription fee to cover the costs of ongoing support.

• Hybrid (SaaS) - A Hybrid deployment is essentially a Cloud-based solution, enhanced with on premise elements to increase delivery performance and data security. By placing edge computing technology at the Cloud’s periphery, a company can easily build a video-aware, privatized network on top of a flexible Cloud core. While a growing number of organizations are starting with Hybrid implementations right away, most still initially invest in a Cloud-based platform first and migrate to Hybrid as corporate demand for video increases over time.

Glossary

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Qumu Deployment Types

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• Annual Contract Value (ACV) Components (One-Time + ARR):

On-Premise: Perpetual License + Hardware + Professional Services <= 1 year + Maintenance & Support <= 1 year

Cloud & Hybrid: Subscription & Support <= 1 year + Professional Services <= 1 year

• Total Contract Value (TCV):

The sum of all ACV components, including multi-year maintenance, committed via signed agreement/order form.

Glossary

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Financial Formulas