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Focused Solutions for the World's Security Needs

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Focused Solutions for the World's Security Needs MAGAL SECURITY SYSTEMS Focused Solutions for the World’s Security Needs Kobi Vinokur, CFO January 2020 1 / SAFE HARBOR/ Statements concerning Magal Security’s business outlook or future economic performance, product introductions and plans and objectives related thereto, and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements'' as that term is defined under U.S. federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to: the effect of global economic conditions in general and conditions affecting Magal Security’s industry and target markets in particular; shifts in supply and demand; market acceptance of new products and continuing products' demand; the impact of competitive products and pricing on Magal Security’s and its customers' products and markets; timely product and technology development/upgrades and the ability to manage changes in market conditions as needed; the integration of acquired companies, their products and operations into Magal Security’s business; and other factors detailed in Magal Security’s filings with the Securities and Exchange Commission. Magal Security assumes no obligation to update the information in this release. Estimated growth rates and other predictive statements represent Magal Security’s assumptions and expectations in light of currently available information. Estimated growth rates and other predictive statements, are based on industry trends, circumstances involving clients and other factors, and they involve risks, variables and uncertainties. Magal Security’s actual performance results may differ from those indicated in this presentation. Consequently, no guarantee is presented or implied as to the accuracy of specific forecasts, projections or predictive statements contained herein. 2 / MAGAL AT A GLANCE / • Leader in customized security products and turnkey solutions with decades of experience • Growing presence with focus on key vertical markets • Two operating divisions • Magal Security global provider of turnkey projects • Senstar recognized tech-rich product brand • Scalable model – near-term goal to increase revenue by 50% and double EBITDA margin from 7% to 14% Market Cap: $95M Total Revenue: $89M (LTM*) Technology Focus Global Presence 9% 15% 8% Recurring Israel Revenue Enterprise Europe Products ~20% R&D & Value Total 15% 38% Technicians North America Net Cash $45m Employees 175 South & Latin America $51m Projects 440 62% 28% Africa Others 26% 8% of revenues spent on R&D * LTM 2019 - Latest twelve months as of September 30, 2019 3 / FOCUSED ON HIGH GROWTH SEGMENTS IN A GROWTH INDUSTRY / Security is a Global Problem Projected to Grow at a CAGR of 10% to Over $526 Billion by 2026* Security Industry Growth Drivers • Increasing security threats to infrastructure and people • Increasing government regulation to fight terrorism • Rising labor costs driving tech-based solutions Magal targets the highest growth segments in physical security products and solutions market – PIDS and VMS – forecast to grow at a 11% and 23% CAGR respectively by 2025** Source: Verified Market Research, Global Security Solutions Market report October 2018 ** Kenneth Research Perimeter Intrusion Detection System (PIDS) Market Analysis, Size, Share, Growth, Trends and Forecast to 2025 4 / CORE MAGAL MARKET - PERIMETER INTRUSION PROTECTION / Protecting Critical Infrastructure While Meeting Operational and Regulatory Requirements Electronic VMS Command and Access Control Video Analytics Control EAC Symphony FORTIS Fence Mounted Sensor FlexZone / FiberPatrol Covert Sensor OmniTrax VMS Video Analytics Intelligent Lighting / Symphony Fence Sensor Senstar LM100 Volumetric Sensor XField Microwave Sensor UIltraWave 5 / TARGETING KEY VERTICAL MARKETS / Magal serves over XXX government and leading enterprise customers in EMEA, North and Central America, and Asia Each with unique security requirements suited to Magal’s AIRPORT BORDERS OIL & GAS CORRECTIONS broad scope of capabilities • Vulnerable - readily accessible to public • Security issues unique REGULATED CRITICAL to country or industry CANNABIS SAFE CITY INFRASTRUCTURE LOGISTICS • Increasingly use tech- centric products • Require tailored solutions MILITARY VIP SITES FACILITIES SMART CITY SEAPORTS 6 / MAGAL’S TWO OPERATING DIVISIONS/ ~40% of ~60% of Revenues revenues Product division – tech-rich, proprietary Project division - turnkey security projects globally • Perimeter intrusion detection systems (PIDS) • Perimeter intrusion protection for critical infrastructure security • Advanced Video Management Software (VMS) • Comprehensive solutions offering • Intelligent Video Analytics (IVA) • Leverages Magal/Senstar’s full suite of products • Electronic Access Control (EACS) • Features proprietary Fortis 4G Command & • Symphony - security and information Control platform management platform • Global sales directly to end users or to large-scale • Sells to system integrators and distribution channels contractors • Fastest growing division with highest • Large, variable sales to defined customer base contribution margins with high barriers to entry 7 / GLOBAL FOOTPRINT TO SUPPORT OPERATIONS / / MAIN FACILITIES / TWO OPERATING DIVISIONS SUPPORTED GLOBALLY Israel / Yehud Security products under the Senstar brand Corporate HQ & Magal Israel Canada / Ottawa & Waterloo Security solutions and turnkey projects under the Magal brand PIDS & VMS R&D Centers Manufacturing Mexico / Cuernavaca Projects and Products United States / Philadelphia Fiber Optic Technologies R&D Center Philippines / Clark Technical support center Germany/ Ravensburg and Hanau Product distribution - Europe 8 / PROJECT DIVISION - CORE COMPETENCIES / Consulting Analyze and identify Turnkey Security Projects For Maintenance, security concerns Governments And Enterprises Support & Design Training • Comprehensive offering Full suite of support New projects or existing • Recurring revenue from maintenance, options system upgrades or support and training replacements • Customized solutions capabilities Core Project Division Competencies Installation Integration Over 50 years Full-service systems installation Project integrator experience Management & Supervision Manage every stage through completion 9 / PROJECT DIVISON DELIVERS COMPREHENSIVE EFFECTIVE SOLUTIONS / Project division executes construction and installation using sensors and tech-rich products 10 / PROJECT DIVISION – PROPRIETARY INTERGATED SOLUTIONS/ Cyber Security Access Control External Data FORTIS Proprietary Command and Control Perimeter Systems Facial • Centralized proprietary Physical Security Recognition Information Management (PSIM) monitoring • Holistic integrations for all security and Robots & Drones and Balloons operational systems Anti-drone • Vendor agnostic • Effective decision making on real-time events Integrated by Smart Gates FORTIS 4G Thermal Imaging • Future delivery as cloud solution IVA & LPR CCTV/Cameras Public Address Mobile Forces 11 / SENSTAR PRODUCTS LEVERAGING CORE EXPERTISE TO NEW MARKETS / Recognized Brand Leader in Security Products VMS • Ranked one of 2019’s top 10 growth brands in Video global physical security sector * Management Significantly expanded addressable market with $3.7B ESC and VMS acquisitions (2018, 2016) Competitive advantages – performance, reliability EACS and quality Electronic Access Control PIDS IP-rich Proprietary Technology $7.5B $550 M • 24 issued patents and 8 patents pending • Annual R&D investment of ~$5.5 million Cross-selling drives growth Source: Markets & Markets, June 2018 * ASMAG.com 2019 a&s Security 50 December 2019 12 / SENSTAR’S INTRUSION DETECTION FOR UNIQUE SECURITY NEEDS / Case Study Perimeter security requirements for a critical cargo Challenge – Secure a five-mile airport perimeter subject to airport in North American … harsh weather conditions and surrounded by busy roads, pedestrian traffic and public transportation Solution –Multilayered Perimeter Intrusion Detection Technology • Fiber optic fence-mounted and buried intrusion detection systems • Senstar’s Network Manager software to manage alarms from the multiple systems Outcome – High praise for Senstar’s solution with …where traditional PIDS and video surveillance improved security through improved system management proved ineffective, expensive and unmanageable and lower cost with reduced nuisance alarm rate (NAR) 13 / PRIORITIZING RESOURCES ON FOUR KEY VERTICALS FOR 2020/ • Rapid growth of security needs in these verticals benefit Product and Project divisions • Able to leverage core capabilities, market leadership, new products and high standards • Investing in BD and Sales; targeting for M&A opportunities Core vertical for product High growth industry division with PIDS for new operational needs - VMS analytics for logistics to track damaged good, and reduce lost CRITICAL items INFRASTRUCTURE LOGISTICS Currently market Magal’s differentiated leader in the U.S. with capabilities and high momentum to increase standards of quality for market share security align with this capital-intensive sector’s unique needs CORRECTIONS OIL & GAS 14 / EXECUTING A STRATEGY TO DRIVE GROWTH / Revenue and Margin Breakdown Growth drivers • 2020 focus on growth in key verticals LTM 2019 Combined Senstar (*) Magal
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