Investor Presentation April 2017 Safe Harbor Slide Safe Harbor - PowerPoint PPT Presentation

Investor Presentation April 2017

Safe Harbor Slide Safe Harbor Statement This presentation contains forward-looking statements that involve risks and uncertainties, including statements regarding MobileIron's revenue and other GAAP and non-GAAP financial metrics for the company's third quarter in 2015 and other statements regarding trends in the company's business, including statements regarding MobileIron's GAAP and non-GAAP revenue and operating expense targets, growth in our customer base, increased customer adoption, and expected benefits from new product offerings and MobileIron’s partner ecosystem. There are a significant number of factors that could cause actual results to differ materially from statements made in this presentation, including MobileIron's limited operating history, quarterly fluctuations in MobileIron's operating results, MobileIron's need to develop new solutions and enhancements to compete in rapidly evolving markets, product defects, competitive pressures, customer adoption, changes by operating system providers and mobile device manufacturers, MobileIron's inability to manage growth, the quality of MobileIron support, MobileIron's reliance on channel partners and development of partner ecosystem. Additional information on potential factors that could affect MobileIron's financial results is included in the company's SEC filings, including its most recent Form 10-K and Form 10-Q. MobileIron does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Vision Mission Strategy Unlock human Provide security and apps Build scalable, multi-OS potential backbone for modern architecture with repeatable computing business model

Large Secular Trend of Enterprise Security & Mobility Sales Leverage Leadership Position & Reach in the Magic Quadrant through Global Channels Rapidly Growing Base Strong ecosystem with over 12+ million Cumulative 100+ OS, device, security, seats and 14,500 Cumulative cloud, network, apps ISVs Customers since 2009 Accelerating High Organic Growth Business Model Recurring Revenue with Compelling Growth 25% in 2016 Economics & Path to Profitability Data as of fourth quarter 2015

Two trends power our business Enablement Cloud security Mobile security Move to mobile Move to cloud Network security Intelligence

Enterprise Boundary Collapsing Salesforce Office365 SAP Workday Oracle Google Drive Concur box Dropbox System image Device VPN Perimeter Anti-malware agents VDI Firewall Old: Perimeter Model Mobile & Cloud Model

Enterprise Information is Everywhere: In the In the In mobile On mobile datacenter cloud apps devices In motion between them

MobileIron end-to-end product architecture Note: Some features will vary by device and deployment model

Broad, Integrated Ecosystem Applications OS/ODM Device Security Adoption Services Mobile multiplier awareness Service providers Infrastructure

Accelerating growth Grow EMM business: 15-20% growth Increase ASP $ / customer: 10 - 33% New products Mobile apps and FedRamp regulatory California law Common Criteria requirement Expand TAM: 560M laptops

FedRAMP CSfC US-EU Privacy Shield Government Cloud NSA Commercial Solutions for Classified Certifications awarded Common Criteria SOC 2 Type II FIPS 140-2 MDMPP V2

Why We Win We secure We secure We secure apps the network identity AppConnect Sentry Certs and SSO

Routes to Market Operators VARs

Financial Overview

Sales Model: Optimized for Long Term Growth Kerberos MAM MCM INCREASE $/SEAT MDM Upsell More Products Renew Increased $ per seat High Renewal Rate Expand Orders Land New Customers Existing Customer Upside Subscription or Perpetual SELL MORE SEATS 1) Renew: renewals of subscription and software support agreements on a device basis

Revenue Mix Shifting Towards Subscription $50 Shift from $45 Perpetual to Subscription $40 32% 23% 64% to 23% 27% 36% $35 25% 27% Revenue $MM 35% $30 34% 48% Net Present Value 35% 48% $25 37% on Subscription 33% 48% 35% 36% 34% 31% Higher $20 49% 53% 32% 33% 57% 34% $15 27% 59% 28% 64% 28% $10 28% 40% 27% 36% Increased 37% 39% 34% 38% 25% 33% 24% 33% $5 31% 21% 25% Predictability 24% 24% 22% 20% 19% 17% 15% $0 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 Subscription Software Sprt/Service Perpetual See earnings press release for non-GAAP reconciliation

First Quarter 2017 Revenue 1Q YoY Revenue Growth by Category +11% $42.3 Perpetual 23% Software +2.3 $38.0 +2.5 Support/Services 37% -0.5 $42.3M Subscription 40% 1Q 16 REVENUE PERPETUAL SUBSCRIPTION SUPPORT AND 1Q17 REVENUE SERVICE

Recurring Billings and Revenue 37% CAGR 46% CAGR Billings Model $40M Perpetual (One Time) $35M $31M $34M $30M $29M $31M $31M $28M $27M $26M $27M $27M $23M $25M Software Support $24M $22M $24M $20M $18M $20M $19M $16M Term Subscription $14M $16M $16M $12M (12/24/36 Month) $11M $12M $9M $9M $9M $6M $7M Monthly Recurring (MRC) Billed Each Month by Service Provider Not in Deferred Revenue 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 Recurring Billings Recurring Revenue Footnotes: 1) See earnings press release for non-GAAP reconciliation 2) Recurring billings: Billings from subscription (term and MRC) plus service support. 3) Recurring revenue: revenue from subscription (term and MRC) plus service support.

Billings and Revenue shift to recurring model Billings mix Revenue mix 74.9% 73.8% 70.1% 69.9% 64.8% 60.1% 39.9% 35.2% 29.9% 30.1% 26.2% 25.1% 1Q 15 1Q 16 1Q 17 1Q 15 1Q 16 1Q 17 Recurring Revenue One-Time Revenue Recurring Billings One-Time Billings

Focus on expense optimization Non-GAAP operating expenses as % of revenue 1Q17: Non-GAAP operating 131% expenses of $40.8M • Down $1.5M from 1Q16 22% 111% 97% • Down 14.7% as a % of revenue 14% 12% 73% 59% Non-GAAP target model Target 51% Gross Margin 85% – 87% 38% Sales & Marketing 33% - 36% 36% 34% Research & Development 18% – 20% 1Q 15 1Q 16 1Q 17 General & Admin 7% - 9% Research & Development Sales & Marketing General & Admin Operating Income 20% - 25%

GAAP to Non-GAAP Reconciliation Q1 FY2016 Q2 FY2016 Q3 FY2016 Q4 FY2016 FY2016 Q1 FY2017 (in USD $000s, except for percentages) GAAP Revenue 38,008 38,881 41,566 45,472 163,927 42,288 VSOE revenue prior to 2013 - - - - - - Non-GAAP Revenue 38,008 38,881 41,566 45,472 163,927 42,288 GAAP Gross Profit 30,738 30,764 33,757 38,120 133,379 35,018 VSOE revenue prior to 2013 - - - - - - Amortization of intangibles 154 154 154 154 617 154 Stock based compensation charges 390 1,055 747 851 3,043 700 Restructuring charge - - 181 - Non-GAAP Gross Profit 31,282 31,974 34,839 39,125 137,038 35,872 Non-GAAP gross margin 82.3% 82.2% 83.8% 86.0% 83.6% 84.8% (non-GAAP gross profit over non-GAAP revenue)

GAAP to Non-GAAP Reconciliation Q1 FY2016 Q2 FY2016 Q3 FY2016 Q4 FY2016 FY2016 Q1 FY2017 (in USD $000s, except for percentages) Research & development - GAAP 16,927 18,019 16,587 16,214 67,747 17,193 Stock based compensation charges (2,601) (3,812) (2,709) (2,606) (11,729) (2,766) Restructuring charge - - (349) - (349) - Research & development - non-GAAP 14,326 14,207 13,529 13,608 55,669 14,427 Research & development - non-GAAP; 38% 37% 33% 30% 34% 34% as %age of non-GAAP revenue Sales & marketing - GAAP 25,669 27,246 24,404 24,844 102,162 23,303 Stock based compensation charges (3,119) (2,992) (2,307) (2,056) (10,473) (1,772) Restructuring charge - - (404) - (404) - Sales & marketing - non-GAAP 22,550 24,254 21,693 22,788 91,285 21,530 Sales & marketing - non-GAAP; 59% 62% 52% 50% 56% 51% as %age of non-GAAP revenue General & administrative - GAAP 7,548 8,265 7,080 6,921 29,814 7,331 Stock based compensation charges (2,139) (2,686) (2,109) (2,210) (9,143) (1,308) Restructuring charge - - (119) - (119) - General & administrative - non-GAAP 5,409 5,580 4,852 4,711 20,553 6,023 General & administrative - non-GAAP; 14% 14% 12% 10% 13% 14% as %age of non-GAAP revenue

GAAP to Non-GAAP Reconciliation Q1 FY2016 Q2 FY2016 Q3 FY2016 Q4 FY2016 FY2016 Q1 FY2017 (in USD $000s, except for percentages) Operating loss - GAAP (19,407) (22,765) (14,314) (9,859) (66,344) (12,808) VSOE revenue prior to 2013 - - - - - - 154 617 Amortization of intangibles 154 154 154 154 7,723 34,388 Stock based compensation charges 8,248 10,545 7,872 6,546 - 1,052 Restructuring charge - - 1,052 - - - Litigation settlement charge - - - 1,143 - - Impairment of IPR&D - - - - Operating loss - non-GAAP (11,004) (12,066) (5,235) (1,982) (30,287) (4,964) Operating Margin - non-GAAP; (29%) (31%) (13%) (4%) (18%) (12%) (non-GAAP operating loss over non-GAAP revenue)