Limelight Networks. Profitable Growth. Investor Presentation Q1 2017

Limelight Networks Profitable Growth Investor Presentation Q1 2017

Safe Harbor Statement Certain statements in this presentation relate to future results that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. This presentation contains statements involving risks and uncertainties, including statements relating to Limelight Networks market opportunity and future business prospects. Actual results may differ materially and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ are included in the Limelight Networks Annual Report on Form 10K and our periodic reports on Form 10Q.

Limelight Overview What We Do On-demand & Live Video Software Download Web Content Our Mission: To securely manage and globally deliver digital content, building customer satisfaction through exceptional reliability and performance. Limelight Confidential

Limelight Overview Undeniable Industry Trends Cloud Mobile Media Scale Security Migration of applications, data, and IT services to the cloud Explosive growth of devices, applications, and content consumption Rich media proliferating across multiple distribution channels Audiences are becoming increasingly geographically dispersed Increased concern over privacy and data protection

Limelight Overview Our Network: Global, Fast, Available, Secure 21+ Tbps Egress Capacity 40+ Global Metro Locations 80+ Delivery Locations 5 Limelight Confidential

Limelight Overview Unique, Impressive Scale and Capabilities 21+ TBPS >800 >98% SSL PURGE One of the largest CDNs in the world Directly connected unique networks Industry leading cache hit efficiency One of the largest SSL CDNs in the world Global purge in seconds 4 of 5 TOP MEDIA COMPANIES 5 of 8 TOP TECHNOLOGY COMPANIES 3 of 5 TOP GAMING COMPANIES 6 Limelight Confidential

Limelight Overview Top Reasons for Customers to Choose Limelight Industry Leading Performance and Throughput One of the highest cache hit ratios in the industry and one of the top performers in major markets globally Award Winning Software at Scale High performance services, globally distributed (e.g. SmartPurge) Integrated Suite of Security and Video Solutions Massive SSL footprint, DDoS, WAF and content security; rich online video feature set Unrestricted Access to Live 24/7 Support Fast, friendly, professional technical support with in-region capability for key languages Limelight Confidential Highest Performing Origin Storage Reliable, high performance origin storage, numerous locations, extensive policy features

Limelight Overview Key Strategic Priorities Past, Present and Future Customers for Life Growing Profitable Revenue Employer of Choice Increase NPS Reduce churn Grow existing business Achieve double digit growth Increase gross margin Drive new business Generate cash Attract talent Reduce turnover Increase productivity 8 Limelight Confidential

Limelight Investment Thesis 1 Net 2 3 4 5 6 Customer Satisfaction is Better Promoter Score keeps increasing Operational Metrics are Better Multiple metrics providing proof points Employee Engagement is Better Employees more engaged, more satisfied, lower turnover Legal Position is Better 703 Lawsuit settled On the Offense in VA Financial Performance is Better Sustained margin improvement and cash generation Shareholder Opportunities are Better Good position in a growing market

1 Net Promoter Score keeps increasing Customer Satisfaction is Better Net Promoter Score FALL 15 +12.1 FALL 16 +6.4 FALL 13 +15.1 FALL 14 +11.9 SPRING 14 +10.6 SPRING 15 +14.6 Limelight Confidential SPRING 13 +70.7 points since 2013

2 Network Performance Improvement Operational Metrics are Better RESPONSE TIME THROUGHPUT CLOUD STORAGE 5% 11% 0% 28% 31% 31% 56% 36% 100% Top 5 Top 10 Top 20 >Top 20 Top 5 Top 10 Top 20 >Top 20 Top 5 11 Top 5 in 19/62 countries Top 10 in 41/62 countries Top 5 in 34/62 countries Top 10 in 53/62 countries Limelight Confidential Top in 49/59 countries Source: Cedexis

2 Operational Metrics are Better Efficiency Improvements Gbps of Edge Server Capacity Server capacity increases 518% in 2 years Our network & servers are about 10x more efficient than market leader Our entire CDN infrastructure is newer and greener Our CDN pushes more bytes per server 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 Limelight Confidential

2 Multiple metrics providing proof points Operational Metrics are Better Traffic Tickets even as total traffic increases by >60% >45% drop in service tickets Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Limelight Confidential 13

3 Employees more engaged, lower turnover Employee Engagement is Better Promotions Training Mentoring Engagement Longevity Leadership Hiring Recruiting Onboarding Employer of Choice Increased Productivity Attracting More Talent 14 Limelight Confidential

4 Legal Position Is Better 703 Lawsuit settled On the Offense in VA Long-running 703 patent infringement lawsuit settled by converting $51M judgment into a $54M license agreement to be paid quarterly over three years We made first license payment during Q3 2016 Seeking relief from future payments due to Akamai s breach of settlement agreement On the offense now and believe we are net plaintiffs in VA VA trial date set for May 2017 Confident in our position Limelight Confidential

5 4Q2016 Highlights Solid Momentum Financial Performance is Better 11 percent sequential revenue growth (highest in 24 quarters) 390 basis point GAAP gross margin expansion (highest in 9 quarters) GAAP gross margin at 44.9 percent (highest ever) Cash gross margin of 56 percent (highest in 20 quarters) Adjusted EBITDA of $7.5 million dollars (highest ever) Non-GAAP earnings per share of positive two cents (highest since 2007) Positive non-gaap EPS for the year (first time ever) Limelight Confidential

5 Gross Profit and Margin $25 Financial Performance is Better 50.0% $20 $16.13 $16.52 $18.15 $15.91 $17.54 $16.64 $18.80 43.2% $16.24 $19.66 44.9% 45.0% $15 41.4% 41.0% $10 39.6% 39.0% 37.8% 40.2% 41.1% 40.0% $5 35.0% $0 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 4Q 16 Gross Profit Gross Margin $ millions Limelight Confidential 17 30.0%

5 Adjusted EBITDA Profile Financial Performance is Better $8 Adjusted EBITDA $7 $7.55 $6 $6.21 $5 $5.33 $5.09 $4 $3 $3.95 $2 $1 $0 $1.48 $0.37 $0.90 $0.31 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16 2Q 16 3Q 16 4Q 16 $ millions Limelight Confidential

2017 Guidance 6 Returns more measurable and visible Shareholder Opportunity is Better Revenue between $175 and $180 million GAAP gross margin improvement of greater than 150 basis points 2X to 3X improvement in non-gaap EPS of between $0.02 and $0.06 Adjusted EBITDA between $22 and 27 million; Capex around $20 million Limelight Confidential

Limelight Investment Thesis 1 Net 2 3 4 5 6 Customer Satisfaction is Better Promoter Score keeps increasing Operational Metrics are Better Multiple metrics providing proof points Employee Engagement is Better Employees more engaged, more satisfied, lower turnover Legal Position is Better 703 Lawsuit settled On the Offense in VA Financial Performance is Better Sustained margin improvement and cash generation Shareholder Opportunities are Better Good position in a growing market

Appendix: Non-GAAP Financial Measures

Non-GAAP Net Income (Loss) $ thousands, except per share data Three Months Ended Dec 31, 2016 Sep 30, 2016 Dec 31, 2015 Amount Per Share Amount Per Share Amount Per Share U.S. GAAP net loss $(3,919) $(0.04) $(6,122) $(0.06) $ (4,145) $(0.04) Share-based compensation 3,683 0.03 2,987 0.03 2,863 0.03 Litigation expenses 1,998 0.02 2,837 0.03 402 0.00 Amortization of intangible assets Non-GAAP net income (loss) Weighted average shares used in per share calculation - - 2 0.00 461 0.00 $ 1,762 $ 0.02 $ (296) $ (0.00) $ (419) $(0.00) 105,942 104,860 101,391 22

EBITDA and Adjusted EBITDA $ thousands Three Months Ended Dec 31, 2016 Sep 30, 2016 Dec 31, 2015 U.S. GAAP net loss $ (3,919) $ (6,122) $ (4,145) Depreciation and amortization 5,064 5,014 5,816 Interest expense 54 406 25 Interest and other (income) expense 469 (159) 321 Income tax expense 199 130 46 EBITDA $1,867 $(731) $2,063 Share-based compensation 3,683 2,987 2,863 Litigation expenses 1,998 2,837 402 Adjusted EBITDA $ 7,548 $ 5,093 $ 5,328 23

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