7_Title Slide

R O C K E T F U E L | P R O P R I E T A R Y & C O P Y R I G H T © 2 0 1 5

ROCKET FUEL

December 31, 2015

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CAUTIONS REGARDING FORWARD LOOKING STATEMENTS (SAFE HARBOR); OTHER GENERAL INFORMATION

This presentation contains “forward-looking” statements. All statements other than statements of historical fact could be deemed forward-looking,

including, but not limited to, any projections of financial information; any statements about historical results that may suggest trends for our business

and results of operations; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation

or belief regarding future events, potential markets or market size; technology developments; and any statements of assumptions underlying any of

the foregoing. These statements are based on estimates and information available to us at the date of this presentation and are not guarantees of

future performance. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in

the “Risk Factors” section of our fiscal year 2015 Annual Report on Form 10-K that was filed with the Securities and Exchange Commission on March 14,

2016 and in our subsequent SEC filings. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from

time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or

combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of

these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and actual

results could differ materially and adversely from those anticipated or implied in our forward-looking statements. You should not rely upon forward-

looking statements as predictions of future events. Although we believe that the expectations reflected in our forward- looking statements are

reasonable, we cannot guarantee that the future results and circumstances described in the forward-looking statements will be achieved or occur.

Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We

undertake no obligation to update publicly any forward-looking statements for any reason after the date of this presentation to conform these

statements to actual results or to changes in our expectations, except as required by law.

In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, not

a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Reconciliation between GAAP and non-GAAP

measures is included in the appendix to this presentation.

You may get our Form 10-K, and all other documents we file with the SEC for free by visiting EDGAR on the SEC Web site at www.sec.gov.

Rocket Fuel is a registered trademark of Rocket Fuel Inc. This presentation also contains additional trademarks and service marks of ours and of other

companies. We do not intend our use or display of other companies’ trademarks or service marks to imply a relationship (other than as a customer, as

applicable) with, or endorsement or sponsorship of us by, these other companies.

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Rocket Fuel is a leading programmatic marketing platform that learns

We use AI at Big Data scale to optimize performance, awareness, or lift across channels for agencies and marketers

Rocket Fuel’s Moment Scoring™ technology is a real-time calculation of moments of influence that optimizes programmatic decisions and learns how to improve them over the life of campaigns

Who We Are

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M O M E N T S C O R I N G :D E L I V E R I N G T H E R I G H T A D T O T H E R I G H T P E R S O N A T T H E R I G H T M O M E N T

TM

How Do We Stand Out?

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It ’s about MAGNIFYING THE MOMENTM A K I N G M O D E L S B E T T E R

R O C K E T S C I E N T I S T SN E W F E A T U R E S

N E W M O D E L SA / B T E S T I N G

What is Moment Scoring ?TM

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MARKETING THAT LEARNSA I D R I V E N T E C H N O L O G Y A S S E S S E S I N V E N T O R Y S U I T A B I L I T Y

P R E D I C T S T H E N E X T A C T I O N B Y L E A R N I N G W H A T W O R K E D A N D W H A T D I D N ’ T

D E L I V E R S T H E R I G H T A D , T O T H E R I G H T P E R S O N , A T T H E R I G H T M O M E N T

How Do We Do It?

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Rocket Fuel Over-Delivers: More Results, More Efficiently

ADVERTSERS

AGENCIES

EXCHANGES

PUBLISHERS

CONSUMERS

$100K $0.001

at a Time

Results

15,000 Orders

My Budget Is $100K … Get 10K Orders… Serve 50M Ads

Target based on

Moment Scoring

I L L U S T R A T I V E E X A M P L E

ADVERTISER’S REQUIREMENT

Based on a commissioned analysis of 60 and 90 day campaigns in, “Measuring the Total Economic Impact of Rocket Fuel,” April 2013, by Forrester

Consulting.

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D I R E C T R E S P O N S E

B R A N D D M P D S P

C A M P A I G N S E R V I C E S I M P L E M E N T A T I O N S E R V I C E S

D I S P L A Y M O B I L E S O C I A L V I D E O

O F F -L I N E C R M D A T A

O W N E D W E B S I T E D I R E C T

M A I LE M A I L

L I V E C H A T

1 S T P A R T Y D A T A

Comprehensive Digital Marketing Platform

A R T I F I C I A L I N T E L L I G E N C E M O M E N T S C O R I N G , R E A L - T I M E L E A R N I N G , B I G D A T A

MEDIA PLATFORM SaaS PLATFORM

PR

OD

UC

TS

SE

RV

ICE

SC

HA

NN

EL

S

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Strategic Agency Partnership Goals

• Reestablish Rocket Fuel as a media vendor and technology partner, and partner of choice, to agencies, by servicing them in either a managed or self service manner

• Ecosystem of partners that integrate and upsell FUEL’s platform to clients

• Embed into tech stack of Trading Desks

• Drive adoption and grow revenue from existing Holding Company partnerships

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AI Foundation and Scale CreateGrowth Opportunit ies

Grow

Sales;

Customers;

Globally

Increase

Brand

Market Share

Grow

Self-Service

Platform

Expand

Strategic

Agencies

New

Channel/Reseller

Partners

Grow

Direct-to-

marketer

Deepen DR

Leadership

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Our Technology Advantage

~ 73 Petabytes of Data

671B+ Impressions Served to Date

13 Data Centers Globally

~ 71,418 CPU Cores

~ 2,100 Simultaneous Campaigns

Millions of Attributes Analyzed

63B+ Decisions/Second

~1,200,000 Bid Requests/Second

2AUTOMATED DECISIONING

1PREDICTIVE MODELING

3BIG DATA

4COMPUTATIONAL INFRASTRUCTURE

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Programmatic Marketing Leadership

FORRESTER

DSP WAVE

Dec 2011

CIO PARTNER

INNOVATOR AWARD

FORRESTER

DMP WAVE

GARTNER MAGIC

QUADRANT

Aug 2013

Dec 2014Q1 2013 Mar 2013

GOOGLE

AI ANALYSIS

FORRESTER

TEI STUDY

Feb 2015

INTERACTIVE ADVERTISING

BUREAU (IAB)

SALES EXCELLENCE AWARD

Oct 2012

Jun 2015

FORRESTER

DSP WAVE

FORRESTER

TEI STUDY

Visionary in Digital Marketing Hubs

Excellence in innovation and customer service

229% ROI for agencies

192% ROIfor advertisers

Nov 2015

830% ROI

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Vis ionary in Digital Marketing

Gartner Report as of Jan 2016.

• Rocket Fuel is a digital marketing partner that helps brands to transform their marketing

• Marketing learns, acts, and evolves across the consumerjourney

• Marketing that CMOs can support

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In Our Customers’ Words

Source: Company Survey, Q4 2015.

Nov 5, 2015

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Great Brands Use Our Programmatic Market ing Solut ions

Represents advertisers and brands who have spent with Rocket Fuel during the twelve months ended Q4’15.

FINANCE TELECOM/CABLETRAVELRETAIL

HEALTH & BEAUTY ENTERTAINMENT CPG AUTO

EDUCATION DINING/OTHERGOVERNMENT/NONPROFIT TECHNOLOGY

AGENCIES

Advertising Age LeadingNational Advertisers

91/100 Fortune 100 Companies65/100 $1M+ lifetime

customers188+

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Common Technology Platform

JAPAN: Self-Service SoftwareAUSTRALIA: Media

Flexible Platform Supports Global Expansion

EUROPE: Media

Financial Information

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Investment Highlights

DISRUPTIVE AI & BIG DATA MARKETING PLATFORM FOR DIGITAL ADVERTISING

LARGE $45B MARKET * (INCREASING DIGITAL SHARE & PROGRAMMATIC SHARE)

MULTI-CHANNEL GO-TO-MARKET STRATEGY WITH MULTIPLE GROWTH DRIVERS

DEVELOPING BUSINESS MODEL WITH OPPORTUNITY FOR COST/PROFIT LEVERAGE

*Industry data source: Magna Global 2013.

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Key Focus Areas in 2016

BECOME A TRUSTED PLATFORM PARTNER (DSP & DMP)

STRENGTHEN OUR BRAND ADVERTISING VALUE PROPOSITION

EXTEND OUR DIRECT RESPONSE LEADERSHIP

ACTIVATE AGENCY HOLDING COMPANY PARTNERSHIPS

CONTINUE TO IMPROVE ADJUSTED EBITDA BY DRIVING COST LEVERAGE

FOCUS ON CASH CONSERVATION

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$2.8M

$8.9M

Q4 '14 Q4 '15

$(20.5) M $(12.7) M

Q4 '14 Q4 '15

Q4 2015 Performance HighlightsR

EV

EN

UE

NET

LOSS

NO

N-G

AA

PN

ET

REV

EN

UE*

NO

N-G

AA

P A

DJ.

EB

ITD

A*

$139.5M

$125.4M

Q4 '14 Q4 '15

$76.7M$74.7M

Q4 '14 Q4 '15

*Net Revenue and Adjusted EBITDA are non-GAAP financial measures. Please refer to the Reconciliation of Revenue to Non-GAAP Net Revenue

and the Reconciliation of Non-GAAP Adjusted EBITDA to Net Loss in the appendix to this presentation.

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Year-Over-Year Revenue Growth

$17M

$45M

$107M

$241M

$409M

$462M

2010 2011 2012 2013 2014 2015

13%Growth

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4% 8%

24%

42%36%

2011 2012 2013 2014 2015

AI Driven Platform Enables Diversif ication Across Channels…

% OF REVENUE BY CHANNEL

Mobile, Social, VideoDisplay

% OF REVENUE - DIRECT VS AGENCY

24% 24% 25% 27%

76% 76% 75% 73%

Q1'15 Q2'15 Q3'15 Q4'15

Direct

Agency

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By Customer***

Fortune 100Advertising Age

100 Leading National Advertisers

91 65

…Geographies, Products and Customers

By Geography*

By Product**

77

23 Brand

DirectResponse

2011 2012 2013 2014

385.4

76.2

2015

Int’l

N. America

*Based on revenue during fiscal year.

**Based on revenue in Q4’15.

***Represents advertisers and brands who have spent with Rocket Fuel during the twelve months ended Dec 2015.

N. AmericaN. AmericaN. AmericaN. America

Int’lInt’lInt’lInt’l

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Reconcil iation of GAAP to Non-GAAP Financial Measures$ in Thousands

*Non-GAAP Net Revenue is defined as GAAP Revenue Less Media Costs. Media costs consist of costs for advertising impressions we purchase from real-time advertising exchanges or other third parties.

*

Revenue $ 125,401 $ 139,504 $ 461,637 $ 408,641

Less: Media costs

Non-GAAP net revenue $ 74,701 $ 76,670 $ 272,548 $ 235,164

Year Ended

(In thousands)

Three Months Ended

December 31,

2015 2014

189,089 173,47750,700

December 31,

2015 2014

62,834

Rocket Fuel Inc.

UNAUDITED RECONCILIATION FROM GAAP REVENUE TO NON-GAAP NET REVENUE

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Reconcil iation of GAAP Net Loss to Non-GAAP Adjusted EBITDA

*Non-GAAP adjusted EBITDA is a non-GAAP financial measure defined by us for the periods presented as GAAP net loss before interest expense, other income (expense), net, income tax provision (benefit), depreciation and amortization expense, stock-based compensation expense and related payroll taxes and acquisition and restructuring expenses and impairment charges.

$ in Thousands

*

7_Title Slide

R O C K E T F U E L | P R O P R I E T A R Y & C O P Y R I G H T © 2 0 1 5

ROCKET FUEL

December 31, 2015