Boingo Wireless : Q4 2020 Earnings Supplement

• (1) Carrier Services revenue consists of build fees (inclusive of network upgrades) and recurring services fees under certain long-term contracts with telecom operators. Build fees paid upfront are generally deferred and recognized ratably over the term of the estimated customer relationship period, once the build is complete. Recurring services fees include access to DAS, tower, and small cell networks and Wi-Fi offload services. These monthly recurring services fees are non-cancellable and generally escalate on an annual basis, and are recognized ratably over the non-cancellable term of the telecom operator agreement.

• (2) This metric represents the number of paying customers who are on a month-to-month subscription plan at a given period end.

• (3) This metric represents the number of active DAS nodes as of the end of the period. A DAS node is a single communications endpoint, typically an antenna, which transmits or receives radio frequency signals wirelessly. This measure is an indicator of the reach of our DAS network.

• (4) This metric represents the number of DAS nodes under contract but not yet active as of the end of the period.

$107.7 million (~46% of revenue)

$76.8 million (~32% of revenue)

$2.2 million (~1% of revenue)

$21.6 million (~9% of revenue)

$29.1 million (~12% of revenue)

Long-term agreements to provide cellular network and Wi-Fi access at large-scale venuesLong-term agreements to deliver high-speed Wi-Fi and incremental private services to soldiers and families worldwideLong-term agreements to provide converged wireless solutions directly to venues and/or non-carrier customers

Long-term agreements to provide wireless high-speed Internet for student housing and multi-dwelling unitsNon-core, legacy products and services sold to wholesale and retail customers

• • Products & services initially sold to carriers

• • DAS, Small Cells, Carrier

  Offload, Macro Towers

• • Broadband Wi-Fi sold on military bases to soldiers

• • Managed and/or private networks sold to the military or soldiers on military basesOffering includes the following core products and services sold to venues and/or non-carriers:

• • PLTE, CBRS, Data services and related consulting

  • • Managed Networks

• • Broadband Wi-Fi, TV and related wireless solutions sold to multifamily developers and operatorsOffering includes the following products and services sold to wholesale and retail customers:

• • Retail, Comes with Boingo, Roaming, Advertising & Media

  • • Managed Wi-Fi services

• • Airports / Transportation Hubs

• • Military Bases

• • Stadiums / Arenas

• • Concert Venues

• • Industrial Manufacturing

• • Hospitals

• • Higher Education

• • Large Enterprises / Office Buildings

• • Hospitality

• • Retail

• • Military Bases (soldier barracks and common areas)

• • Airports / Transportation Hubs

• • Stadiums / Arenas

• • Concert Venues

• • Industrial Manufacturing

• • Hospitals

• • Higher Education

• • Large Enterprises / Office Buildings

• • Hospitality

• • Retail

Multifamily Properties including:

• • Student housing

• • Condominiums

• • Apartments

• • Senior living

• • Hotel properties

• • Airports / Transportation Hubs

• • Stadiums / Arenas

• • Concert Venues

• • Retail