Sierra Wireless Corporate Overview

August 2021 Cautionary Note Regarding Forward-Looking Statements

• Certain statements and information in this presentation are not based on historical facts and constitute forward-looking o Forward-looking statements are based on our management’s current expectations and we caution investors that forward-looking statements within the meaning of applicable securities laws (“forward-looking statements”). These forward-looking statements statements, particularly those that relate to longer periods of time are subject to substantial known and unknown material risks and may include statements and information relating to our financial guidance for our first quarter and fiscal year 2021; the impact of uncertainties. Many factors could cause our actual results, achievements and developments in our business to differ significantly from COVID-19 on customer demand, our supply chain, manufacturing capacity, our ability to meet customer demand and our financial those expressed or implied by our forward-looking statements, including, without limitation, the following factors, which are results; expectations regarding post-COVID-19 recovery; our business outlook for the short and long term; statements regarding discussed in greater detail. These risk factors and others are discussed in our Annual Information Form and Management’s Discussion our strategy, plans, goals, objectives, expectations and future operating performance; the Company's liquidity and capital and Analysis of Financial Condition and Results of Operations, which may be found on SEDAR at www.sedar.com and on EDGAR at resources; the Company's financial and operating objectives and strategies to achieve them; general economic conditions; www.sec.gov and in our other regulatory filings with the Securities and Exchange Commission in the United States and the provincial estimates of our expenses, future revenues, financial results and capital requirements; our expectations regarding the legal securities commissions in Canada: proceedings we are involved in; statements with respect to the Company's estimated working capital; expectations with respect o prolonged negative impact from COVID-19; to the adoption of Internet of Things ("IoT") solutions; expectations regarding trends and growth in the IoT market and wireless o module market; expectations regarding product and price competition from other wireless device manufacturers and solution our access to capital if required; providers; our ability to implement effective control procedures; expectations regarding the launch of fifth generation cellular o competition from new or established competitors or from those with greater resources; embedded modules and corporate update. In particular, this presentation describes our revenue targets, which are forward- o natural catastrophes or public health epidemics could impact customer demand, result in production disruption and impact our looking statements and are subject to the assumptions, risks and uncertainties described below. Forward-looking statements are ability to meet customer demand or capacity to continue critical operations; provided to help you understand our current views of our short and long-term plans, expectations, and prospects. We caution you o risks that the Sale Transaction may fail to realize the expected benefits; that forward-looking statements may not be appropriate for other purposes. We do not intend to update or revise our forward- o the loss of, or significant demand fluctuations from, any of our significant customers; looking statements unless we are required to do so by securities laws. o our financial results being subject to fluctuation; • Forward-looking statements typically include words and phrases about the future, such as: “target”, “outlook”, “will”, “may”, o our business transformation initiatives may result in disruptions to our business and may not achieve the anticipated benefits; “estimates”, “intends”, “believes”, “plans”, “anticipates” and “expects”, and similar expressions are not promises or guarantees of o our ability to respond to changing technology, industry standards and customer requirements; future performance. They represent our current views and may change significantly. In particular forward-looking statements o that relate to longer periods of time, such as our revenue targets, are subject to substantial uncertainty and could prove to be failures of our products or services due to design flaws and errors, component quality issues, manufacturing defects, network significantly incorrect. Forward-looking statements are based on a number of material assumptions, including, but not limited to, service interruptions, cyber-security vulnerabilities or other quality issues; those listed below, which could prove to be significantly incorrect: o deterioration in macro-economic conditions could adversely affect our operating results and financial conditions; o our ability to attract or retain key personnel and the impact of organizational change on our business; o the scope and duration of the COVID-19 pandemic and its impact on our business; o cyber-attacks or other breaches of our information technology security; o our ability to return to normal operations after the COVID-19 pandemic has subsided; o o risks related to the transmission, use and disclosure of user data and personal information; expected component supply constraints and manufacturing capacity; o o customer demand and our ability to continue to sell our products and services in the expected quantities at the disruption of, and demands on, our ongoing business and diversion of management's time and attention in connection with expected prices and expected times; acquisitions or divestitures; o o our ability to realize the anticipated benefits of the recent divestiture of the automotive product line (the “Sale risks that the acquisition of M2M Group and M2M New Zealand or our investments and partnerships may fail to realize the Transaction”); expected benefits. o our ability to effect and to realize the anticipated benefits of our business transformation initiatives, and the timing o risks related to infringement on intellectual property rights of others; thereof; o our ability to obtain necessary rights to use software or components supplied by third parties; o our ability to develop, manufacture and sell new products and services that meet the needs of our customers and gain o our ability to enforce our intellectual property rights; commercial acceptance; o our reliance on single source suppliers for certain components used in our products; o expected macro-economic business conditions; o our dependence on a limited number of third-party manufacturers; o expected cost of sales; o unanticipated costs associated with litigation or settlements; o our ability to win new business; o our dependence on mobile network operators to promote and offer acceptable wireless data services; o our ability to integrate acquired businesses and realize expected benefits; o o risks related to contractual disputes with counterparties; our ability to renew or obtain credit facilities when required; o risks related to governmental regulation; o expected deployment of next generation networks by wireless network operators; o risks inherent in foreign jurisdictions; and o our operations not being adversely disrupted by other developments, operating, cyber security, litigation, or regulatory o risks related to tariffs or other trade restrictions. risks; and o expected tax and foreign exchange rates. Investors are cautioned not to place undue reliance on these forward-looking statements. No forward-looking statement is a guarantee of future results. USE OF NON-GAAP FINANCIAL MEASURES: this presentation contains references to certain non-GAAP financial measures and should be viewed in conjunction with our press release, which contains further information regarding our use of non-GAAP financial measures, including a reconciliation of such information to our GAAP results 2 Global Leader in IoT Solutions for Over 25 Years Creating a Connected Economy of Exponential Value

Leader in cellular Fully integrated Innovation in Edge Accelerating the future Simplifying the embedded modules Device-to-Cloud Intelligence, Data of IoT with leading Complexity and & gateways/routers IoT connectivity Orchestration, and partnerships Deployment of solutions → End-to-End Security IoT & Enterprise LPWA to 5G Solutions

3 Global Leader in Cellular Device-to-Cloud Solutions for the Internet of Things and People

DEVICES CONNECTIVITY CLOUD

Cellular modules Smart Connectivity Management Platform

Routers & Gateways 24/7/365 Edge Data GNOC Orchestration

Integrated Solutions with End-to-End Security

4 Sierra Wireless Sierra Wireless enables rapid, secure IoT deployment at scale provides IoT Stack Device-to-Cloud Business domain (IT environment) APPLICATION Iot application domain solutions that TIER accelerate Application platform Big data analytics IoT deployments Partnering with Big Data analytics and Cloud DATA services infrastructure players TIER Cloud services infrastructure

Data ingestion

Connectivity services

EDGE TIER Edge gateways

Communication devices

Connected Devices 5 Our IoT edge modules are made to help you succeed

Simple Scalable Secure Speed development time Design products for Reduce security risks of and simplify integration longevity and take devices/systems, as well as complexity advantage of latest delays in certification innovations requirements

Rich set of edge & cloud APIs Global solutions to deploy Secure credentials and to accelerate development anywhere edge-to-cloud security

Common Flexible Form Security experts driving Connectivity built-in Factor CF3® standard and best practices

From Edge to Cloud : Plug Trusted partner with 25+ Transparent vulnerability your device and play in years of experience and risks management the cloud

6 Low Power Wide Area (LPWA) – Cat M1 & Cat NB1

7 The most power efficient LTE-M HL7845 – The Most Secure and Efficient and NB-IoT module in the LTE 450MHz Module market that supports the LTE 450MHz frequency band for • Built for the 450MHz networks in Europe smart metering and smart grid • Dual mode LTE Cat-M1 and NB2 (Release 14) applications.

• Best-in-class power consumption to reduce operational and device maintenance costs

• Future-proof design with common form factor Now supports • Superior transmit power for reliable coverage in public carrier networks 450 MHz bands • Enables utilities to operate their own private network for an added layer of robust security, deeper area coverage and building penetration

8 Technology Solutions and Use Cases

TECHNOLOGY USE CASES SOLUTIONS

LPWA + Cat M1/NB1 Embedded Connectivity Smart Smart Smart Industrial Mobile 50-300Kbps Meters Grid City/Building Asset

4G Cat 1-4 + 10-50 Mbps Fleet Transit Public Security Enterprise Safety Data Orchestration

DEVICES 4G/5G 5G DEVICES 50 Mbps-20 Gbps Routers PC-OEM

9 5G: New Standards for High-Speed Cellular Connectivity

World’s First 5G module World's First 5G Multi-Network NEW NEW with mmWave support Vehicle Router

Sierra Wireless 5G modules will enable secure The AirLink® MG90 5G platform provides secure, connectivity at the highest possible speeds with always-on mobile connectivity for mission-critical ultra-low latency for mobile computing, routers, first responder, field service and transit gateways, industrial automation, and many new applications. Industrial IoT applications. The AirLink® MG90 5G delivers the best-in-class user With support for mmWave, experience, performance and Sub-6 GHz and LTE, Sierra reliability that the top public Wireless modules will enable safety agencies rely on to OEM’s to securely deploy 5G ensure safety and save lives. worldwide.

10 Connectivity Solutions focused on IOT

OUR DIFFERENCE THROUGH SIMPLE YET DIFFERENTIATED OFFERS: Smart Connectivity Simplify Global Deployments

Maximize

QoS Coverage

End-to-End Enhanced Carrier Connectivity Security

One Point of Accountability

11 Sierra Wireless AirLink Networking Solutions High Performance Cellular Router Solutions for Mission and Business-Critical Communications

• Complete edge & cloud solution portfolio • Trusted in mission and business-critical deployments • Designed for high performance • Architected with end-to-end security {REST:API} Cloud Management

AirLink Services AirLink XR90 The world’s most advanced 5G router solutions Modern OS

From Edge to Cloud, architected with End-to-End Security 12 WhyWhy Sierra Sierra Wireless Wireless AirLink Enterprise® Networking Solutions? Solutions?

If you are connecting vital corporate assets to your enterprise network, whether it’s in an oil field, a branch office or your vehicle fleet, you want to work with experts – people you can trust who understand that connectivity is mission-critical and seconds count!

GET CONNECTED. STAY CONNECTED.

More than 3 Million routers & gateways deployed 4 out of 5 of the All of the Top 10 3 out of 4 More than 25% More than half Top 20 utilities Oil & Gas producers High-performance of the Top 50 transit of the Top 100 use AirLink routers for smart rely on Sierra Wireless to keep EMS systems* agency vehicles police departments grid deployments and vehicle their infrastructure running trust Sierra Wireless routers depend on Sierra Wireless rely on Sierra Wireless routers fleets smoothly to support paramedics in the routers to improve passenger in cruisers and incident field services and operations response vehicles

13 Sierra Wireless Networking Solutions

Vehicle Networking Enterprise Networking Industrial Networking

Provide reliable connectivity and Provide backup connectivity to Remotely monitor and control location-based services to mobile remote office locations, and remotely infrastructure, instrumentation, or workforces in utilities, transit and manage networking equipment surveillance equipment public safety

14 A complete Sierra Wireless and its partners can provide all, or part of, and flexible the solution

Connected solution to fit devices and Big data machines and enterprise customers’ integration organizations and needs

15 INTERNAL ONLY XR Series: The World’s Most Advanced 5G Router Solutions

XR90 5G Router XR80 5G Router

ARCHITECTED FOR 5G OPERATIONAL END-TO-END PERFORMANCE SIMPLICITY SECURITY

Sierra provides advanced software, cloud management, and connectivity services for all its cellular gateways & routers

16 Sierra Wireless Vertical IoT Applications

Asset/Cargo Tracking Solutions Offender Monitoring Service Security Communicator Solutions • • • Solutions that provide global Market-ready solution for The security industry’s most visibility into where, what and agencies to track persons of trusted source for wireless how cargo, assets and vehicles interest with industry leading alarm communicators and are deployed. GPS ankle-worn device. connectivity services.

Combining hardware devices, software, cloud management, and connectivity services for complete solutions

17 Octave: The Only All-in-One, Edge-to-Cloud Solution for Connecting Industrial Assets to the Cloud OVER 25 YEARS OF IOT INFRASTRUCTURE DATA ORCHESTRATION EXPERTISE

Edge Connectivity Connectivity Devices Services & Device Edge and Cloud Use Cases Expertise & Management Distributed Data Orchestration Engine Integration

18 Sierra Wireless and Microsoft Announce Unique IoT Strategic Collaboration

• Sierra Wireless becomes Microsoft’s preferred partner for cellular modules, gateways and connectivity (Octave) • Microsoft Azure/IoT Central becomes Sierra Wireless’ preferred cloud supplier

19 Increasing Product Investment

Accelerating Module Refresh Ultra low power RC Series EM74xx LPWA modules LTE Cat 1/4 LTE Cat 7

Ready-to-Connect

Commercially Available Ready-to-Connect Global IoT MVNO

First to 5G

20 Driving Recurring Services Revenue

IoT SOLUTIONS - EXAMPLE OF LIFETIME VALUE CUSTOMER USE CASES $8m Girbau Global Industrial Integrated Washing Machines Solution: Recurring Svcs @ 100k devices at 40%+ GM $20 per unit and Mann + Hummel Connectivity & Preventative Maintenance Cloud Services for Fleet Transport $2m agreement One-time One-time over 3-4 yrs at HW @ HW @ $1.25/month Chargepoint 30% GM 30% GM EV Charging stations for Embedded Integrated Public, Private & Fleet Module IoT Solution

TIME TO REVENUE Design Win Shipping Deployment Full Year Revenue (9-12 months) (12-15 months) (15-18 months)

21 Connected sensors & IoT devices for global asset tracking “The advantages of the HL7802, combined with Sierra Wireless’s deep IoT expertise, worldwide presence, and willingness to work with us to grow our business made the decision to select Sierra Wireless as our LPWA IoT connectivity solution partner a simple one.” 22 Organic Waste and Methanization “Octave creates a link between Cloud and Hardware. Hence, it gives our product an infinity of potential applications for a minimum of development.”

23 Atlas Copco Selects Device-to- Cloud Solution to Transform Industrial Compressor Business.

FX30 Programmable Gateway, Legato®, AirVantage® IoT Platform enable deployment of Industrial IoT applications – securely and reliably push data from connected assets to enterprise systems

– increase machine intelligence, productivity and efficiency by deploying applications at the edge of the network

24 Smart Grid Analytics Solution “The support and pricing provided by Sierra Wireless both contributed to our selection, but the main requirement to have one module that works across global cellular network technologies was the most critical factor in our decision.”

25 IoT Monitoring – Obstruction Lighting “Sierra Wireless’ device-to-cloud solution allows us to ensure flight path hazards are always properly marked and our customers are compliant with FAA protocols. As a result, we're able to greatly reduce liability and risk to our customers.”

Terry Zarnowski Chief Technology Officer, Unimar

2626 Smart Technology for Power Wheelchairs

Enabling collision avoidance, drop off protection, tip alerts and secure cloud connectivity.

27 Sierra Wireless - Global Operations Sierra Wireless operates worldwide serving global OEMs and Enterprises

28 Serviceable Addressable Market – SAM (2020-2023)

$12.2B

$10.3B $2.3 Gateways 00

$8.7B $1.8 $7.4B $1.5 $4.0 Modules $1.2 $3.3

$2.7 $2.3

$5.9 Connectivity $5.2 $4.5 $3.9

2020 2021 2022 2023

Source: Berg Insight, ABI Research, IDC, Sierra Wireless 29 Connectivity, Software & Services Revenue (quarterly)

($ millions) $35.2 $33.7 $32.6

$29.8

$26.9

Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q2’21

30 Q2 2021: Summary of key financial metrics

(USD millions, except EPS and margin %) Q2 2021 Financial Results

GAAP Non-GAAP (1) Q2’21 Revenue Actual Actual $132.8m Total Revenue $132.8 $132.8 Gross margin (%) 34.8% 34.9%

Operating expenses $55.6 $46.4

Q2’21 Adj. EBITDA Adjusted EBITDA(2) n/a $4.3 $4.3m Operating Loss $(9.3) $(0.04)

Loss per share from continuing ops $(0.27) $(0.03)

(1) Non-GAAP financial measures adjust for the impact of stock-based compensation expense and related social taxes, phantom RSU expense which represents expenses related to compensation units settled in cash based on the stock price at vesting, restructuring costs, acquisition-related and integration costs, government grants related to COVID-19 relief, CEO retirement/search, certain other non-recurring costs or recoveries, acquisition-related amortization, the impact of foreign exchange gains or losses on translation of certain balance sheet accounts, foreign exchange gains or losses on forward contracts, and certain tax adjustments. (2) Adjusted EBITDA as defined equates to net earnings from continuing operations adjusted for stock-based compensation expense and related social taxes, phantom RSU expense which represents expenses related to compensation units settled in cash based on the stock price at vesting, restructuring costs, acquisition-related and integration costs, government grants related to COVID-19 relief, CEO retirement/search, certain other non-recurring costs or recoveries, acquisition-related amortization, the impact of foreign exchange gains or losses on translation of certain balance sheet accounts, foreign exchange gains or losses on forward contracts, and certain tax adjustments.

. 31 Proprietary and Confidential Q2 2021 and 2020 – Non-GAAP results

Quarterly Revenue Gross Profit & Margin Adjusted EBITDA (1) (2) (USD millions) (USD millions; percentage) (USD millions)

Ent Sol’ns

IoT Sol’ns Ent Sol’ns

IoT Sol’ns

(1) Adjusted EBITDA as defined equates to net earnings (loss) from continuing operations adjusted for stock-based compensation expense and related social taxes, phantom RSU expense which represents expenses related to compensation units settled in cash based on the stock price at vesting, restructuring costs, acquisition-related and integration costs, government grants related to COVID-19 relief, CEO retirement/search, certain other non- recurring costs or recoveries, amortization, the impact of foreign exchange gains or losses on translation of certain balance sheet accounts, foreign exchange gains or losses on forward contracts, and certain tax adjustments. (2) Non-GAAP financial measures adjusts for the impact of stock-based compensation expense and related social taxes, phantom RSU expense which represents expenses related to compensation units settled in cash based on the stock price at vesting, restructuring costs, acquisition-related and integration costs, government grants related to COVID-19 relief, CEO retirement/search, certain other non-recurring costs or recoveries, acquisition- 32 related amortization, the impact of foreign exchange gains or losses on translation of certain balance sheet accounts, foreign exchange gains or losses on forward contracts, and certain tax adjustments. Thank you

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