Rambus : 23rd Annual Needham Virtual Growth Conference

Rambus Investor Presentation

Q4 2020

Safe Harbor for Forward-Looking Statements; Other Disclosures

This presentation contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 including Rambus'

financial guidance for future periods, product and investment strategies, timing of expected product launches, demand for existing and newly- acquired technologies, the growth opportunities of the various markets we serve, the expected benefits of our merger, acquisition and divestiture activity, including the success of our integration efforts, and the effects of ASC 606 on reported revenue, amongst other things.

Such forward-looking statements are based on current expectations, estimates and projections, management's beliefs and certain assumptions made by Rambus' management. Actual results may differ materially. Our business is subject to a number of risks which are described more fully in our periodic reports filed with the Securities and Exchange Commission, as well risks and the potential adverse impacts related to, or arising from, the Novel Coronavirus (COVID -19). Rambus undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

Effective January 1, 2018, the Company adopted Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers in ASC 606. The adoption of ASC 606 materially impacted the timing of revenue recognition for the Company's fixed-fee intellectual property licensing arrangements. The adoption of ASC 606 did not have a material impact on the Company's other revenue streams, net cash provided by operating activities, or its underlying financial position.

This presentation contains non-GAAP financial measures, including operating costs and expenses, interest and other income (expense), net and diluted net income (loss) per share. In computing these non-GAAP financial measures, stock-based compensation expenses, acquisition-related transaction costs and retention bonus expense, amortization expenses, non-cash interest expense and certain other one-time adjustments were considered. The non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations from these results should be carefully evaluated. Management believes the non-GAAP financial measures are appropriate for both its own assessment of, and to show investors, how the Company's performance compares to other periods. Reconciliation from GAAP to non-GAAP results are made available and more fully described on our website as well as the back of this deck and in the earnings release.

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Rambus at a Glance

Who We Are

• Premier silicon IP and chip provider, making data faster and safer
• Developed foundational technology for all modern computing systems
• Improving performance, capacity and security for leading SoCs and systems

Rambus Offerings

Architecture

High-speed IO & DPA

Licenses

Countermeasures

Silicon IP

High-speed Interface

and Security IP

Chips

Memory Interface

Chips

Financial Performance

			Q320	2019
Licensing Billings	$63.1M	$267.2M
Contract & Other	$10.5M	$60.3M
Revenue
Product Revenue	$29.8M	$73.0M
Cash from Operations	$44.1M	$128.5M

			HQ:
NASDAQ:	30 Years	3000+	California	~700
RMBS	Tech leadership	Patents and	WW Offices in	Employees
Worldwide
	& innovation	Applications	India, EU, Asia

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Data-Intensive Markets Driving Growth

Data Center	Global Data Infrastructure Trends
	• AI/ML driving up performance
	requirements across multiple markets

IoT	5G/Edge	•
		•
AI/ML		•
		•
Automotive	Government

Platforms shifting to domain-specific systems

Hyperscalers changing business models and supply chain

Industry transition to DDR5 progressing

Complexity and value of data increasing need for security

Bandwidth & Security

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