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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. © 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. VECIMA NETWORKS (TSX: VCM) February 12, 2026 Investor Overview FY 2026 – Q2 RESULTS Ending December 31, 2025
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. © 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. SAFE HARBOUR Forward-Looking Statements Certain statements in this presentation may constitute forward-looking statements within the meaning of applicable securities laws. All statements other than statements of historical fact are forward-looking statements. These statements include but are not limited to statements regarding management’s intentions, belief or current expectations with respect to market and general economic conditions, future costs and operating performance. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond our control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include, but are not limited to, the distinctive characteristics of Vecima’s operations and industry that may have a material impact on or constitute risk factors in respect of Vecima’s future financial performance, as set forth under the heading “Risk Factors” in the Company’s most recent Management's Discussion & Analysis (MD&A) and the Annual Information Form (AIF) dated September 25, 2025, available at www.sedarplus.ca. In addition, although the forward-looking statements in this presentation are based on what management believes are reasonable assumptions, such assumptions may prove to be incorrect. Consequently, investors should not place undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Vecima disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additional Reference Materials This presentation should be read in conjunction with materials from Vecima, including news releases, material change reports, most recent annual financial statements and related MD&A, for full details of the information referenced throughout this presentation. Additional information is available at www.sedarplus.ca or on our website at www.vecima.com. Non-IFRS Financial Measurements In an effort to provide investors with additional information regarding the Company’s results as determined by International Financial Reporting Standards (IFRS), the Company also discusses, in its earnings press release and earnings presentation materials, non-IFRS information which management believes provides useful information to investors. Non-IFRS measures do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other issuers.
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 3 Dynamics accelerating Network Expansion Bandwidth-intensive Apps 4K & 8K, AR, VR & XR, Cloud Gaming & AI 10+ GBPS Data Rates 25G/50G Symmetrical services with <5ms latency 25% CAGR Network Traffic Up to 3,300 EB/m by 2030 $Billions in Broadband Stimuli Bridging the digital divide accelerates growth Competitive Overbuild Pressure Hundreds of BSPs, building millions of passings annually
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 4 Expansion is driving network Evolution + Analog Hubs and Nodes 10G+ Speeds and Acceleration of Fiber Deployments Monetizing OTT Video with Open CDN and Dynamic Ad Insertion Network Digitization Network Virtualization Monetization of Streaming Video Fiber Evolution & Expansion Limited Fiber Roll- outs Bundled Video Packages Digital Hub & Nodes (RPD, RMD, OLT) Virtualized Systems (vCMTS & vPON) Integrated CMTS
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 5 This Evolution Drives Capital Spending $0.0 $1,000.0 $2,000.0 $3,000.0 $4,000.0 $5,000.0 $6,000.0 $7,000.0 $8,000.0 $9,000.0 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 CCAP/CCAP Core 1 Gbps EPON 2.5 Gbps GPON Virtual CMTS/CCAP Remote PHY Devices (RPDs) Optical Nodes Remote MACPHY Devices (RMDs) 10 Gbps EPON 10 Gbps XGS-PON R-OLTs 10G PON 25 Gbps PON 50 Gbps PON 10 Gbps XG-PON 10 Gbps NG-PON2 Managed IPTV IP Ad Insertion Open CDN Source: Dell’Oro Group vCMTS/RPD, XGS & 50G dominate the TAM 70% of Vecima resources focused on these programs Vecima has invested >$500M in preparation for this massive, multi-year upgrade cycle with $8B TAM
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 6 Spending Translating to Vecima’s Growth 2022 2023 2024 2025 $ $20 $40 $60 $80 $100 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Distributed Access Commercial Video IPTV Telematics Other Supply Chain Turbulence & New Technology Adoption Process REVENUE ($M) CAD 128% ~78% Growth in top-line revenues 1Q-2022 vs 2Q-2026 Revenue attributed to Distributed Access (Fiber + Cable Broadband)
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Investment has Created the Widest Next-Gen Portfolio Cloud / Data Center / Hubsite Virtualize Fiber vPON Cable vCMTS Video Origin | Storage Video processing Dynamic content Residential / Enterprise Adapt IP video delivery for enterprise solutions Commercial video Shelf & node- based broadband delivery for commercial & MDU subscribers Access Network / Outside Plant Digitize 1x1, 1x2, 2x2, 2x4 R-OLT 2, 4 & 8 port OLT 8, 16 & 32 port XGS 10G EPON DPoE Combo PON 8, 16, 32 2, 4, 8 R-PHY nodes & shelves R-MACPHY nodes D3.1 1.8ghz 3ghz ready D4.0 4, 8, 16 HLS Open Scale Dash Deep edge CDN Open CDN
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Strategic, calculated growth spanning 35+ years Acquires Concurrent for IP Video delivery Acquires Nokia Cable Business, entering the Fiber Access business Vecima goes public TSX: VCM Launches Entra DAA portfolio First Tier 1 Entra DAA win 8 10 Offices worldwide 611 Employees globally ~65% Engineers and R&D Vecima founded in Canada Cox selects Entra vCMTS Achieves #1 global market share in Remote OLTs & Remote MACPHY for 4th consecutive year Introduces industry’s first Generic Access Platform (GAP) Node Demonstrates DOCSIS® 4.0 leadership at CableLabs 10G Showcase 3 Core businesses Strategic acquisitions strengthen portfolio Proven history of market share leadership and innovation 1988 2005 2017 2021 2022 2024 20252016 2018 Acquires Falcon V, deepening software and automation focus
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. AMERICAS EMEA APAC 275 FIBER CABLE OPPORTUNITIES ACTIVE OPERATOR ENGAGEMENTS 9 Proudly serving 100+ Operators and 100M people globally 147 +19.5% YoY +16.5% YoY
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 10 Three Businesses in the early stages of growth 2% of business Telematics Video & Broadband Solutions 81% of business 17% of business Content Delivery & Storage Business segment percentages based on Q2 Fiscal 2026 results
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 11 Accelerating next-generation broadband networks • Commenced deliveries of Entra EN3400 platforms to the lead customer in Q2, providing a robust contribution to VBS sales • Secured first XGS-PON customer in the US while continuing to expand engagement around the globe • TerraceIQ solution selected by a lead Tier 1 U.S. customer to support a major network upgrade as part of a multi-year program across its national commercial video footprint Video & Broadband Solutions
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Transforming next-gen Broadband Networks Cloud / Data Center / Hubsite Virtualize Fiber vPON Cable vCMTS Residential / Enterprise Adapt Commercial video Shelf & node- based broadband delivery for commercial & MDU subscribers Access Network / Outside Plant Digitize 1x1, 1x2, 2x2, 2x4 R-OLT 2, 4 & 8 port OLT 8, 16 & 32 port XGS 10G EPON DPoE Combo PON 8, 16, 32 2, 4, 8 R-PHY nodes & shelves R-MACPHY nodes D3.1 1.8ghz 3ghz ready D4.0 4, 8, 16 2021-2024 2021-2024
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Huge and growing Rural Broadband FTTH Investment More than $65B in subsidies pouring into North American Broadband Networks Rural Digital Opportunity Fund (RDOF) Broadband Equity Access & Deployment (BEAD) • $42.45B to expand high-speed internet via planning, infrastructure, and adoption programs, with funds mainly distributed by states • Estimate: ~70–80% of BEAD funds to fiber as the “future-proof” option in most state scoring. Even where satellites cover many locations (e.g., CO, MT), fiber wins most dollars due to higher capital costs. • About 3 of every 4 BEAD dollars will fund fiber. Satellites and some fixed wireless will serve rural edge cases, while cable upgrades take a small share. BEAD/BABA Factory in Holly, MI Fully certified -- Delivered first R-OLTs Two RDOF Phases: • Phase I – $9.2B awarded • Phase II – $11.2B for “partially served” under new broadband mapping and remaining unserved areas from Phase I $20.4B program: • 10-year rural fiber build in the U.S. • Many Vecima customers funded; a Tier 1 operator continues a major fiber expansion, adding to current FTTH opportunities
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. $1.3B+ in Sales Since FY 2021 & Accumulating Market Share 2022 2023 2024 20252021 BSP Network Incumbency Cable AccessFiber Access Source: Dell’Oro Group 2021-2024 2021-2024 2026 UPDATED $0 $200 $400 $600 $800 $1,000 $1,200 $1,400Millions
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. $0 $50 $100 $150 $200 $250 $300 $350 $400 Virtual CMTS/CCAP vCMTS, DOCSIS® 4.0 & XGS are the next frontiers $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 1 Gbps EPON 2.5 Gbps GPON 10 Gbps EPON 10 Gbps XGS-PON R-OLTs 10G PON 25 Gbps PON 50 Gbps PON $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 Remote PHY Devices (RPDs) Optical Nodes All New SAM Accumulating All New SAM Millions Cable Access Fiber Access Millions Millions April 2025 announced Cox vCMTS Agreement. Expect to participate in significant TAM growth in 2025-2029
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 16 Exceptional video experiences, new revenue streams Content Delivery & Storage • Acceleration of IPTV customer subscriber growth, together with significant further migration from QAM to IPTV across multiple customers with MediaScale platform • Continued deployment of Targeted Dynamic Ad Insertion (DAI) solution which enables operators to deliver personalized experiences and increase video average revenue per user (ARPU) without increasing rates to customers
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 17 Lower costs, higher video quality and revenues QOE REVENUES MARKET LEADER >10 YEARS SERVICE OPEX CACHE Managed IPTV Platform for Service Providers Video Platform for Commercial Services CLOUD ACCESS NETWORK / OUTSIDE PLANT RESIDENTIAL / ENTERPRISE ORIGIN STORAGE TRANSCODE OPTIMIZE MONETIZE COMMERCIAL VIDEO GATEWAYS COMMUNITY / MICRO-CACHE CACHE CACHE
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 18 Igniting new experiences, revenues & loyalty LOYAL CUSTOMER BASE NEW CUSTOMERS • Dramatically improved OTT QoE • Reduced network loading • New revenue streams • Pinpoint ad targeting and reduced ad-waste • New revenue streams • Improved customer loyalty • Reduced churn • Higher-quality viewing experiences MIGRATING SUBS TO IP NEW SOLUTIONS + + + + + + + + + + + + Open CDN Dynamic Content & Ad Insertion Core Platform Managed IPTV with TruLive TM + + + + • Improve video stream quality, reduce bitrates by up to 80%
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 19 Real-time asset tracking, anywhere in the world • Cloud-based tracking & monitoring of vehicles, assets, and people • Added 11 new customers for the NERO asset tracking platform during the quarter, booking 345 new subscriptions and bringing total asset tags under management to over 106,000 • Consistently high gross margins from recurring software and subscriptions-based monitoring business for vehicles and assets Telematics
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 20 GPS Fleet & Equipment Management Software Access data at home, in the office, or on the go Fleet vehicles Equipment in warehouse Equipment on vehicles Equipment on jobsites Data-driven, full visibility Faster deployment and asset ROI Automation
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. © 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 21 Focused on growth and profitability
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Core focus on growth and profitability WORKING CAPITAL ($CAD) ($30.2M) CASH, NET OF REV. LOC ($CAD) $49.3M TOTAL ASSETS ($CAD) $330.2M SHAREHOLDER’S EQUITY ($CAD) $36.7M SHORT & LONG-TERM DEBT ($CAD) $212.2M EMPLOYEES 611 56% MANAGEMENT / INSIDERS 44% INSTITUTIONAL RETAIL / OTHERS Market Cap ~$255.5M (as at December 31, 2025) Solid Balance Sheet $58.6M Returned to shareholders in Quarterly Dividends since Oct 2014 24.3M BASIC SHARES OUTSTANDING
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 23 Strong, consistent financial performance QUARTERLY $124.2 $186.8 $303.4 $291.0 $285.9 2021 2022 2023 2024 2025 $57.8 $95.2 $147.0 $141.6 $109.4 2021 2022 2023 2024 2025 $12.3 $31.0 $59.8 $53.8 $28.9 2021 2022 2023 2024 2025 $71.2 $64.0 $68.8 $71.1 $73.7 2Q25 3Q25 4Q25 1Q26 2Q26 REVENUE ($M) CAD GROSS MARGIN ($M) CAD ADJUSTED EBITDA ($M) CAD1 $25.9 $30.5 $18.8 $29.9 $33.1 2Q25 3Q25 4Q25 1Q26 2Q26 49%46% 51% 48% 36% 48% -$0.3 $10.3 $6.7 $11.5 $10.6 2Q25 3Q25 4Q25 1Q26 2Q26 1 See reconciliation of “Adjusted EBITDA”, a non-GAAP financial measure, on page 11 of Vecima’s Q2 Fiscal 2026 MD&A dated February 12, 2026, available on SEDAR+ at www.sedarplus.ca. ANNUAL ($4.3) FX Losses non-cash 27% 38% ($7.0) Inv. allowances Non-cash 42% 45%
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. © 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 24 Stewarding another high-growth era for Vecima
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Unique in the market, strong competitive edge To better deliver on customer expectations $500M+ R&D accumulated over 10 years Cable, Fiber IP Video and Commercial Video Scale, Knowledge & Support Invented Developed Deployed Most open & Interoperable Most Industry- Focused Vendor Widest Solution Ecosystem Global Sales Team Strong Industry Reputation
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 26 Vecima is strategically aligned to take advantage of the global cable network upgrade, massive fiber buildout, and the disruptive forces in video delivery In summary Bandwidth-intensive apps and competitive pressures are driving utilization, network capacity, and broadband speeds up 25% annually Broadband Service Providers (BSPs) must upgrade and digitize their networks to meet the market requirements of today More than $65B in government subsidies will continue to drive incremental investment in access networks for years to come Opportunities to improve monetization for both Managed IPTV & OTT content will provide BSPs an improved ROI for video services
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Executive Management Team Colin Howlett CHIEF TECHNOLOGY OFFICER 20+ years of technical expertise in cable broadband, driving innovation with customers and standards. Clay McCreery CHIEF OPERATING OFFICER 25+ years driving success in technology, with C-level, M&A, strategy, sales, and product expertise. Sumit Kumar PRESIDENT & CEO 30 years of C-level and executive leadership across strategy, business development, and R&D. Dean Rockwell EXECUTIVE VICE PRESIDENT 30+ years of C-level, executive & technical experience in strategic growth, business development, and innovation. 35 years of finance & accounting at publicly- held technology companies, including as Corporate Controller, CAO, and CFO. CPA designated. Judd Schmid CHIEF FINANCIAL OFFICER Bjorn Roos HEAD OF LEGAL & CORPORATE SECRETARY Broad experience in corporate governance, strategic partnerships, and IP protection. 27
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Board of Directors Surinder Kumar CHAIRMAN Founder, Vecima Networks 30 years of C-level and executive leadership across strategy, business development, and R&D Sumit Kumar PRESIDENT & CEO James Blackley INDEPENDENT DIRECTOR 2020 Cable Hall of Fame Honoree; former EVP advisor to the CEO at Charter Communications Scott Edmonds INDEPENDENT DIRECTOR Advisor to the CEO at Stemcell Technologies; 2014 finalist for EY Entrepreneur of the Year in B2B Samuel Chernak INDEPENDENT DIRECTOR 30+ Years leading Comcast operations for cellular, VoIP, access architecture, and DOCSIS teams STEWARDING ANOTHER HIGH-GROWTH ERA FOR VECIMA David Rowat INDEPENDENT DIRECTOR C-level roles at 75 technology companies, spanning finance, M&A, operations, corporate development, and strategic planning 28
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. © 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. Thank you. 201-771 Vanalman Avenue, Victoria, BC, Canada V8Z 3B8 Tel: (250) 881-1982 Fax: (250) 881-1974 invest@vecima.com vecima.com
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. © 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 30
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© 2025 Vecima Networks. Confidential & Proprietary. All rights reserved. 31 Transforming Broadband Networks to a Software & Fiber Centric Future Virtualization & Digitization Unlocks an Unlimited Broadband Future Hardware CMTS HYBRID FIBER+CABLEFIBER LEGACY Cloud / Data Center / Hubsite Residential / EnterpriseAccess Network / Outside Plant Virtual CMTS Software on Data Center Servers Virtual PON Software on Data Center Servers Analog Node 50% Fiber 85% Fiber Software on DAA Node Software on PON Node or Cabinet 100% Fiber 2 Gbps 100 Mbps 10 Gbps 1 Gbps D3.1 10 Gbps 6 Gbps D4.0 25 Gbps 10 Gbps Fut. 3GHz+ 8 Gbps 8 Gbps 10G EPON XGS 50 Gbps 25 Gbps 50G- PON 100 Gbps 25 Gbps Fut. Coherent Legacy