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DASAN Networks IR Presentation

DASAN Networks IR Presentation. 1H 2019. Disclaimer.

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DASAN Networks IR Presentation

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  1. DASAN Networks IR Presentation 1H 2019

  2. Disclaimer • This document, which is written by DASAN Networks, Inc., is only intended to offer information for investors whom attend DASAN Networks IR Presentation. You do not have permission to use, disseminate, distribute, copy or retain any part of this document and communication in any form. • Forecasts and projections contained in this material are based on current business environments and management strategies. They may differ from the actual results depending on changes and unaccounted variables.Therefore DASAN Networks. Inc. does not undertake any obligation to the investment results from those in the forward-looking statements. These materials can not be used as evidence in any legal dispute. The responsibility for investment is ascribed only to investors.

  3. Contents • Company History • Governance of DASAN Group, major shareholders and current status of bonds 1. Overview P.4 • Business area • Financial results in the last four years 2. Performance P.6 • Competitiveness & Opportunities • Global FTTH Market Growth • GlobalFTTH Penetration RatebyCountry • Major Subsidiaries • Global FTTH Market Position • Overseas Business Status 3. Investment Points P.10 • Overview of affiliates in equity method • Financial Summary 4. Appendix P.16 5. Vision • Contact P.19

  4. 1. Company History • The No.1 network equipment and solutions provider in Korea • Penetrated into global market and diversified business since 2009, Global FTTH No.7 Growing to global corporation(2013~Present) Became the No.1 Network Solutions Provider in Korea(2004~2012) Localization of Network Equipment(1993~2003) 2013. · Supplied FTTH solution to CHT, Taiwan 2014. · Supplied FTTH solution to Viettel, Vietnam 2015. · Captive spun-off of DNS, network business unit · Acquired Solueta Inc. (Kosdaq listed) 2016. · Acquired DZSI (Nasdaq listed) · Supplied network equipment to France and India government · Supplied 10G EPON to KDDI, JAPAN 2017. · Ranked FTTHPON Global Top7 2018. · Supplied 5G Mobile Backhaul to LGU+ 2019. · DZSI acquired Keymile (Germany) · Established DASAN Ventures · Supplied 5G Mobile Backhaul to KT 2004. · Investment from SIMENS 2005. · Released ADSL2 IP-DSLAM globally 2007. · KT FTTH(E-PON) No.1 Provider · KT IP-TV(IP Settop-box) No.1 Provider 2008. · SKB FTTH(G-PON) No.1 Provider · Supplied FTTH(E-PON) to LGU+ 2009. · Supplied Mobile Backhaul Solution to Japan 2011. · Supplied 4G LTE Access solution to LGU+ in Korea · Acquired HANDYSOFT Inc. · Relocated Headquarter to Pangyo, DASAN Tower 2012. · Supplied 4G LTE Access solution to KT 1993. · Foundation 1995. · Launched DASAN R&D Institute 1998. · Developed Korea’s first Frame Relay Router 2000. · Listed on Kosdaq · Released general-purpose network solutions (Routers, Ethernet Switch, Internet Server) 2001. · Developed & commercialized Linux based L2 Switch 2002. · Developed & commercialized L3 Metro Ethernet Switch 2003. · Released VDSL IP-DSLAM, Supplied to Korea Big3 and Japan Sales reached 100 Bil. wonSales reached 200 Bil. wonSales surpassed 300 Bil. won 1993 2000 2005 2010 2015 2017 2019

  5. Affiliates in equity method 2. Corporate Governance Consolidated subsidiaries Manufacturing Network Start-up Incubating SOLUETA DZSI DASAN Ventures NASDAQ 44.5% KOSDAQ 23.5% 25.0% ■ Governance of DASAN Group DMC KOR/JAP/VIET/Etc. DASANInvest Minwoo NAM DASANNetworks DTS KEYMILE KOSDAQ 22.0% Affiliates in equity method Start-ups ■ Major Shareholders ■ Current Status of Bonds (Aug. 31. 2019) (Aug. 31. 2019)

  6. 3. Business Area • Broadband access solution • Mobile backhaul solution 10G OLT (MSAN) CustomersAccessEdgeCore ONT 1:64 GPON OLT GPON EPON OLT Backbone 1:32 ONT ONT EPON Broadband  Service Office Access Switch School Edge Switch WirelessAP AC Access Switch Police Station WirelessAP 5G Backbone Mobile  Service Mobile Core BTS RRH Ethernet BTS Wireless Metro Mobile Backhaul Access Mobile Backhaul ※ Above diagram is for illustration purpose only, actual configuration may differ.

  7. 4. 2015-2018 Consolidated Financial Results • Expanding the global network business through subsidiaries as business holding company ■ Sales ■ Assets / Cash (Unit: KRW Billion) (Unit: KRW Billion) CAGR 18.6% Total Liabilities Total Assets Consolidated Sales ■ Liabilities/ Short-term Liabilities ■ Operating Income (Unit: KRW Billion) (Unit: KRW Billion) TurnAround 2015 2016 2017 2018

  8. 4-1. DASAN Networks 1H 2019 Financial Result (1) 1H 2019 Consolidated Performance • 2Q (3 months) Consolidated revenue of 124.4 billion won / 6.9 billion won in operating profit • Improvements to 2Q operating profit ratio of 5.5% (*1Q operating profit ratio of 1.3%) (2) 1H 2019 Separate Performance • 2Q(3 months) separate revenue of 22.6 billion won / 1.7 billion won in operating profit • Increase in orders for network business in France to exceed sales by business plan ※ Significant growth in sales and improvement in profitability of Separate+Consolidated network businesses (1) Selling 5G Mobile Backhaul in full swing - Selected by KT 5G Supplier after LGU+ (2) Expanding regional orders such as Europe, the Middle East and Japan (3) 2019Y Expected annual operating profit ratio of 5%

  9. 4-2. DZS Financial Result and Guidance (1) 1H 2019 Consolidated Performance (2) Guidance

  10. 5. Competitiveness & Opportunities • Boost in investment of global high-speed internet infra • : FTTH market expects to 14% growth annually over next 10 years 5G • Strengthen DASAN Networks’ global position by acquisition of ∙ DZSI, a Nasdaq listed network company in US • ∙ Keymile, German network company • Starting 5GInvestment from 2019, expect to start full-scale in 2020 – led by Korea and Japan

  11. 5-1. Global FTTH Market Growth • Global FTTH market is expected to grow up to 14%+ CAGR • Factors contributing to market growth 5G Internet of Things 5G Adoption Video Streaming Ultra-HD Video Source: Future Market Insights (FMI): “Fiber to the Home Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027). 10

  12. 5-2. GlobalFTTH Penetration Rate by Country Fiber (FTTH/B) Households Connected in 2017 • Focusing on underpenetrated and rapidly growing FTTH markets, like EUR, US, Etc. % Fiber (FTTH/B) Households Connected HHc/HHs in Country Ratio: 2017 Primarily Middle East & Asia Leading Fiber Markets Primarily Europe and the US 24%Increase IP Traffic CAGR 2016-2021 Source: Cable Labs 11

  13. 6-1. Major Subsidiaries ■ Organization Chart in Network Business Unit ■ Progress in DZSI Sales and OI (Unit:$ in millions) ∙ Global Network solution biz ∙ Founded in Jun. 1999∙ Listed on Nasdaq in Nov. 2003 ∙ Acquired in Sep. 9. 2016 ∙ CEO: Yung Kim ∙ 300+employees (consolidated750+) ∙ Headquarter in Oakland, CA, USA ∙ Nasdaq Code : DZSI DASAN Zhone Solutions (US) 44.5% ∙ Network solution biz in Europe ∙ Founded in 2002∙ CEO: Lothar Schwemm ∙ Located in Hannover, Germany ∙ Acquired in Jan. 3. 2019 ∙ Network solution biz in Asia ∙ FoundedinApr. 2015∙ CEO: Daniel Won ∙ Located in Pangyo, Korea DNS Keymile 100.0% 100.0% ■ DASAN Zhone Solutions, Inc. Stock Chart (NASDAQ: DZSI)

  14. 6-2. Global FTTH Market Position ■ Global FTTx Revenue By Vendor Source byInfonetics Research 10G XGS/NG-PON2 10000 Before DASAN + Zhone • Huawei • Nokia (Alcatel-Lucent) • ZTE • Calix • Adtran • Fiberhome • DASAN Zhone Solutions Huawei Alcatel-Lucent ZTE Calix Adtran Fiberhome Mitsubishi Zhone ECI Zyxel Fujitsu DASAN Networks 1200 Gigabit FTTH 1000 800 600 400 200 ■ Global Trend of FTTx Solutions Mbps 0 500 1000 1500 2000 2500 3000 3500 Distance (Feet) DOCSIS 3.1(initial) G10G PONXGS/NG-PON2 DOCSIS 3.024 Bonded G. Fast G. Fast A2 VDSL2 35b VDSL2 17a Gigabit GPON

  15. 6-3. Overseas Business Status • Hundreds of customers in over 50 countries • Operate 18globalR&D center & Sales Office • Map of global major clients is as below: Tier 1 & 2 Carriers Primarily Tier 2 & 3 Carriers Tier 1 Carriers 15

  16. APPENDIX

  17. 8. Affiliates in Equity Method • Business structures upstream by affiliates cooperation (Car network, Automotive application components and IoT, etc.) Solueta [24.8%] Kosdaq • Conductivity material for electromagnetic shield • Consolidated with DMC(Automotive components), DTS(Heat exchanger) (Unit: KRW Billion) DASAN Ventures [25.0%] DASANVentures • B2C & Service • Consolidated with Handycar, Able,Dr. Asahan, Kyperlab, HOCOS, etc. • Established in 2019, intend of consolidated financial structure improvement • Equally invested from DASAN Invest, DASAN Networks, Handysoft, Solueta

  18. 9. Financial Summary [consolidated] ■ DASAN Networks Financial Summary (Consolidated)

  19. 11. Contact “Challenge & Innovation for the Better Life”

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