Clearfield : Investor Presentation - June 2021

The Industry Leader in Craft-Friendly Fiber Optic

Management and Connectivity Solutions

Investor Presentation	NASDAQ: CLFD
June 2021

Investor Presentation / June 2021

Important Cautions

Regarding Forward-

Looking Statements

Forward-looking statements contained herein and in any related presentation or in the related FieldReport are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "outlook," or "continue" or comparable terminology are intended to identify forward-looking statements. Such forward looking statements include, for example, statements about the expected impact of COVID-19 and related economic uncertainty, the Company's future revenue and operating performance, the impact of the CARES Act or other government programs on the demand for the Company's products or timing of customer orders, and trends in and growth of the FTTx markets, market segments or customer purchases and other statements that are not historical facts. These statements are based upon the Company's current expectations and judgments about future developments in the Company's business. Certain important factors could have a material impact on the Company's performance, including, without limitation: the as yet- unknown impact of COVID-19 and related economic uncertainty; to compete effectively, we must continually improve existing products and introduce new products that achieve market acceptance; our expected growth is based upon the expansion of the telecommunications market; our operating results may fluctuate significantly from quarter to quarter, which may make budgeting for expenses difficult and may negatively affect the market price of our common stock; our success depends upon adequate protection of our patent and intellectual property rights; intense competition in our industry may result in price reductions, lower gross profits and loss of market share; we rely on single-source suppliers, which could cause delays, increases in costs or prevent us from completing customer orders, all of which could materially harm our business; a significant percentage of our sales in the last three fiscal years have been made to a small number of customers, and the loss of these major customers or significant decline in business with these major customers would adversely affect us; further consolidation among our customers may result in the loss of some customers and may reduce sales during the pendency of business combinations and related integration activities; we may be subject to risks associated with acquisitions that could adversely affect future operating results; product defects or the failure of our products to meet specifications could cause us to lose customers and sales or to incur unexpected expenses; we are dependent upon key personnel; we face risks associated with expanding our sales outside of the United States; our business is dependent on effective management information systems and information technology infrastructure; our results of operations could be adversely affected by economic conditions and the effects of these conditions on our customers' businesses; changes in government funding programs may cause our customers and prospective customers to delay or reduce purchases; and other factors set forth in Part I, Item IA. Risk Factors of Clearfield's Annual Report on Form 10-K for the year ended September 30, 2019 as well as other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements to reflect actual events unless required by law.

© Copyright 2020 Clearfield, Inc. All Rights Reserved.

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Investor Presentation / June 2021

Company in Brief

Founded in		No. of Employees
	(As of Sept. 30, 2020)
2008
	230

Balance Sheet	Customer Base
$55M	700+

in cash w/o debt

Total Revenue (TTM)

$99.7M

Net Margin (FY20)

7.8%

Gross Margin (FY20)

40.7%

Profitable Fiscal Years

13 of 13

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Investor Presentation / June 2021

What We Do

Clearfield's fiber protection, fiber management and fiber delivery solutions enable rapid and cost-effective fiber-fed deployment throughout the broadband service provider marketspace - delivering the

industry's best total cost of ownership

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Investor Presentation / June 2021

Our Mission:

Enabling the lifestyle ubiquitous broadband provides.

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