AMBARELLA.COM AMBARELLA.COM

January 15, 2020 COPYRIGHT AMBARELLA 2019 AMBARELLA COPYRIGHT Olivetree Financial, NDR New York

Louis Gerhardy, Corporate Development

1 Forward-Looking Statements

This presentation contains forward-looking statements that are subject to many risks and uncertainties. All statements made in this presentation other than statements of historical facts are forward-looking statements, including, without limitation, statements regarding Ambarella’s strategy, future operations, financial targets, future revenues, projected costs, prospects, plans and objectives for future operations, future product introductions, future rate of our revenue growth, the size of markets addressed by the company's solutions and the growth rate of those markets, technology trends, our ability to address market and customer demands and to timely develop new or enhanced solutions to meet those demands, our ability to achieve design wins, and our ability to retain and expand our customer and partner relationships.

In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes," "estimates," "projects," "predicts," "potential," or the negative of those terms, and similar expressions and comparable terminology intended to identify forward-looking statements. We have based forward-looking statements largely on our estimates of our financial results and our current expectations and projections about future events, markets and financial trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business operations and objectives, and financial needs as of the date of this presentation. Although these forward-looking statements are based upon information available at the time the statements are made and reflect management’s good faith beliefs, forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from anticipated future results. Important factors that could cause actual results to differ materially from expectations are disclosed in Ambarella's annual reports on Form 10-K and quarterly reports and Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), particularly in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” You should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We do not undertake to update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward- looking statements.

Before you invest, you should read the annual and quarterly reports and other documents Ambarella has filed with the SEC for more complete information about the company and its ordinary shares. Additional information will also be set forth in Ambarella's future quarterly and annual reports and other filings made with the SEC from time to time. You may access these documents for free by visiting EDGAR on the SEC web site at www.sec.gov.

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 2 Ambarella Overview

Ambarella is an artificial intelligence (“AI”) company . Ambarella developed over a 3 year period an AI processor architecture specifically optimized for video edge-endpoint applications. The integration of this deep neural network AI processor with the company’s state-of-the-art video processor yields a highly optimized computer vision (“CV”) system-on-a-chip (“SoC”) . More than $350 million cumulative investment into CV targeting automotive, security camera and other robotic applications . The first 3 production CV SoCs were taped-out and sampled in C2018 with all three products in production . Three “waves” of CV revenue anticipated; professional security cameras, consumer security cameras and automotive cameras

Founded 2004, IPO (NASDAQ: AMBA) 2012 . Focused on video applications, always with the premise that video is a special type of data requiring an optimized chip architecture . Initially targeted consumer electronics and security cameras for low-power and high-resolution human viewing applications . More than 270 million cameras enabled to-date Strong and liquid balance sheet . $401 million cash and marketable securities and no debt exiting Q3 F2020 (October 31, 2019) . Positive operating cash flow . Returned $175 million to shareholders via stock repurchases in the last 3+ years

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 3 Global Footprint 756 Employees Across US, Asia, and Europe 174 54 178 334 5 5 6 United States Europe China Taiwan Hong Kong Korea Japan

US ODMs . Jabil VisLab HQ . Flextronics Parma, Italy Santa . acquired 2015 Taiwan ODMs . Clara, CA Founded and incorporated 51 employees . Chicony in Cayman Islands in 2004 . 30 PhDs . Sercomm . Vivotek . LiteOn . WNC China ODMs . Ability . Skylight . Gongjin . Goertek . Kenxen

Manufacturing Preferred Partner Contract Design Houses Rhonda Samsung Semiconductor Teknique AMBARELLA.COM COPYRIGHT AMBARELLA 2019 4 Ambarella’s Computer Vision System-on-a-Chip Leveraging 15 Years of Video Processing Expertise with a New and Proprietary AI Processor

15 years of Programmable Computer Vision Platform Video and with Optimized Coprocessor Acceleration Image NEW Processing CVflow architecture Experience introduced in F2019 after 3 years in R&D

CVflow Deep Video Image Neural Network AI Compression Processing processor

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 5 Scalable Computer Vision Portfolio AI in the Camera - Superior Performance per Watt and Performance per Dollar

CV25 CV22 CV22FS CV2 CV2FS

CV22 – Mid Range CV2 – High End CV25 – Mainstream CV22 CV22FS CV2 CV2FS

Announced January 2019 Announced January 2018 Announced January 2020 Announced March 2018 Announced January 2020

Mass production revenue Mass production revenue TBA Production TBA July 2019 December 2018 Availability Samsung low power 10nm process

Up to 6x cameras* and stereo Up to 3x cameras* and stereo Up to 3x cameras* Up to 2x cameras* Up to 3x cameras* support support

Video Video 8 megapixel sensors at 15

Vision 8 mega pixel sensors at 30 – 60 frames per second** Processing frames per second**

CVflow Deep Neural Network AI Processor (software tools port from TensorFlow, Caffe, ONNX, etc.) AI Computer ½ of CV22 AI (CVflow) Baseline (CVflow) 4x CV22 AI (CVflow) 2x CV22 AI (CVflow) Processing

*Additional cameras can be supported using external SERDES **Video processing trade-offs available between frames-per-second, resolution, and the number of cameras supported AMBARELLA.COM COPYRIGHT AMBARELLA 2019 6 Global Security Camera Installed Base Is Fertile Ground for New CV Product Cycle

Security Camera Market 1,000 CV (3G) ~60% fiscal 2019 total revenue begins 750

. ~60% F2019 revenue originated from the security camera market 500 . Two-thirds originated from the professional security camera market Networked (2G) . Primarily driven by enterprise capital investment . One-third from the consumer security camera market 250

. Primarily driven by household spending for durable goods (Millions) base Installed Analog (1G) . ~750 million security camera global installed base in C2019 - . Ambarella has historically served the networked camera market 2013 2014 2015 2016 2017 2018 2019e 2020e . Human viewing Analog Networked Computer Vision . Security applications . Ambarella’s now also addresses the computer vision (CV) market Global Security Camera Unit . In addition to human viewing, now also address machine sensing/processing Shipments . Many new non security applications opening-up, in addition to a new product cycle in security applications Pro CV becomes . Global security camera unit shipments around 210 million in C2018 300 material . Computer vision and networked cameras expected to grow while analog shrinks

. The transition from human viewing to computer vision represents a 200 major new product cycle , IHS, Strategy Analytics, TSR Analytics,IHS, Strategy , . CV SoC average selling prices (ASPs) are ~2x on a like-for-like basis with similar gross margins . We expect ~5 professional security camera customers in mass production by the end of F2020.

Millions Units of Millions 100

Motorola Solutions is the first mass production customer Ambarella . We are in-design at 9 of the 10 leading professional security camera companies . In discussions with all the leading consumer security camera customers 0 Source: C2018 C2020 Analog Networked Computer Vision AMBARELLA.COM COPYRIGHT AMBARELLA 2019 7 Ambarella’s Global Security Camera Footprint Enabling Most Major Professional and Consumer Security Camera Companies

Professional Security Consumer Security Enterprise ― Retail ―Smart Cities ― ITS ― Smart Parking Home Security ― Smart Home Automation ― Delivery Services

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 8 Automotive Camera System Target Markets ~20% fiscal 2019 total revenue

Forward-Facing Part-time & Full-time Ambarella Recorders eMirrors In-Cabin Surround ADAS Autonomous

2018 SAM ~$300M $1B+ <$10M <$50M <$100M ~$100M 2025 SAM ~$500M $1.5B <$250M ~$500M ~$250M ~$2.5B

Ambarella F2019 $40M-$50M New New New New New Revenue

Products CV22, CV22FS CV22 CV22, CV22FS, A12, CV2 A12, H22 CV25 A12, H22 S5 CV22 (Examples) CV2, CV2FS CV22FS CV2 CV22FS H22 CV2FS

Computer Vision Applications Computer Computer Human Viewing Computer Computer Vision Computer L2+ (Human / Computer Human Vision Human Vision Human Vision L0-L3 ADAS Vision L3 Vision) Event Viewing L0-L4 Viewing L0-L5 ADAS Viewing L0 ADAS L0-L3 ADAS L4 Reconciliation ADAS and PT/FT AD L5

OEM Baolong BAIC, Geely, Honda, Hella Eyesight Nissan, SAIC, Toyota Momenta OFILM Korea T1 Eyeris Selected Partners Longhorn US OEM StradVision Tier 1 for Japan T1 Roadefend Mercedes-Benz OFILM and Engagements Aftermarket Brodmann17 BAIC Readsense Finedigital, Garmin, Minieye SmartEye Nextbase, Thinkware Stradvision

Source: TSR, Strategy Analytics, Ambarella AMBARELLA.COM COPYRIGHT AMBARELLA 2019 9 Ambarella’s Global Automotive Footprint OEM, Tier 1’s, and Tier 2’s Computer Vision Human Viewing (Video Processor + AI Processor “CVflow”) (Video Processor)

OEM

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 10 EVA Embedded Vehicle VisLab: 25+ Years of CV Technology Development Autonomy Focused on Autonomous Driving Applications

. Acquired in 2015, spun-out from the University of Parma (Italy) in 2009 VW Tiguan 2017 4K sensors BRAiVE 2008-now CV2FS . Recognized globally for computer vision software Fully autonomous expertise applied to autonomous vehicle applications Porter 2009-now . Set worldwide milestones for autonomous driving, 4 fully autonomous CV22FS electric vehicles participating in multiple DARPA challenges PROUD 13km CV2 . in Parma, Consistent track record of innovation TerraMax 2004-2007 100% AV Fully autonomous DEEVA CV VIAC 15km cross- integration 100% CV22 continent drive AV 100% AV following

DARPA Urban driving 100% AV, driveless

1993-1994 DARPA Grand 132 Fully manual Mille Miglia 2000+km miles off-road 100% DEEVA 2014 on Italian highways AV, driverless Fully Autonomous Prometheus ADAS 94% autonomous with 13 stereo demo on closed track steering camera systems

VisLab’s AV drove in downtown Parma 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 11 Competitive Landscape is Fragmented Ambarella’s video processing expertise scales across multiple markets Security Cameras Automotive Cameras Forward-Facing Professional Consumer Recorders eMirror In-Cabin Surround PT/FT Autonomous ADAS

HiSilicon (Huawei) China only Aftermarket

Mobileye (Intel) (SW from Mobileye+SoC from STM=“black box”) DNN starts with EyeQ5

Movidius (Intel)

Nvidia (Server based architectures) central AI processing

NXP No DNN for AI processing

Qualcomm

Renesas

SigmaStar

Texas Instruments DNN accelerator – samples pending

Xilinx PLDs utilized early in a product life cycle (IP Cores) Cadence, CEVA, etc. Incomplete solution

AMLogic, Fullhan, Ingenic, Will, Socionext, AIT, Novatek, iCatch (Custom ASICs) (Custom ASICs) (Others) (Custom ASICs) AMBARELLA.COM COPYRIGHT AMBARELLA 2019 12 “Other” Revenue – Mostly “Consumer Discretionary” ~20% fiscal 2019 total revenue

. ~150% of Ambarella’s revenue decline between F2017 and F2019 was driven by “Other” . Business mix shifting from consumer discretionary driven markets to C2016 C2017 C2018 consumer durable, enterprise capital expenditure, and government driven investments (F2017) (F2018) (F2019) non Other ~55% ~40% ~20% . “Other” revenue expected to decline in dollars and as a percent of focus revenue over the next 2-3 years Security focus ~35% ~45% ~60% Cameras market . With some exceptions, Computer Vision is not critical to “Other” focus . Some segments such as police body cameras and commercial Auto ~10% ~15% ~20% drones are expected to adopt CV and remain attractive but relatively market small market opportunities Total $310 $295 $228 Revenue . Sports/action cameras, consumer drones, and AR/VR markets have not come close to achieving market growth expectations and are relatively small opportunities

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 13 Emerging Opportunities Includes consumer and enterprise applications

Robotic platform announced at CES 2020 . Robotic software development kit (“SDK”) is a unified software infrastructure targeting automated guided vehicles (AGV), consumer robots, industrial robots and other emerging Industry 4.0 applications . Provides access and acceleration for common robotic functions including stereo, object detection, key points tracking, occupancy grid, visual odometry

Robots for assistance, cleaning, delivery service, surveillance, warehouse, etc. . Potential customer examples: Amazon, Alibaba, Baidu, Dyson, LG, iRobot, Segway, Walmart Machine vision applications include barcode reading, defect inspection and other manufacturing related applications . Potential customer examples: Basler, Cognex, Fanuc, Keyence, Omron

Access control and building automation . Potential customer examples: Assa Abloy, Amazon, Honeywell, Schneider, Siemens

Images represent potential customers / applications AMBARELLA.COM COPYRIGHT AMBARELLA 2019 14 CES 2020 Summary >500 guests to invitation-only customer and partner focused event . New SoCs provide Automotive Safety Integrity Level(ASIL-B) compliance for safety critical applications . CV2FS and CV22FS target forward-facing monocular/stereovision ADAS, L2+ and higher levels of autonomy, eMirrors with blind spot detection, interior cabin cameras, and around view monitors with parking assistance . More than 20 visual AI product demonstrations . L4, visual AI based demonstration vehicles providing rides day and night, ADAS vehicles demonstrating visual AI based applications including eMirror with blind spot detection, interior cabin monitoring, and more . Customer/partner demonstrations include: Mercedes-Benz, Amazon, HELLA, AnyVision, Lumentum, ON Semi, EyeSight, SenseTime, StradVision, Pilot.AI, Broadmann17, and FF-Group . Joint 3D sensing platform introduced for access control systems and smart video security products such as smart Customers and investors gather to observe a demonstration by video doorbells and door locks Mercedes-Benz CoROS cargo logistic system business at . Introduced at CES 2020 in partnership with Lumentum and ON Semiconductor. Ambarella’s CES 2020 event Based on CV25 . New robotics platform targets automated guided vehicles, consumer/industrial robots and other Industry 4.0 applications

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 15 Q3 F2020 (October 2019) Earnings Call Recap >14 customer and partner engagements announced

>5 Auto 6 Security 3 Other OEM and aftermarket 2 smart home, 4 professional 1 wearable, 1 drone, 1 AR/VR >4 CV and 1 video processing 1 CV and 5 video processing 3 video processing

Market Application Customer/Partner Product AMBA Comment

1 Auto ADAS-AM (multiple) Commercial fleets CV2/CV22 Multiple customers/wins, FF ADAS, BSD and DMS applications 2 Auto DMS+in cabin Eyeris (demo) Passenger vehicles CV2 @AutoSens award "Best Auto Safety System“ and "Most Innovative In-Cabin" 3 Auto Cargo/logistics Mercedes-Benz Cmcl. delivery vans CV2 Multiple cameras in cargo area for logistics (E-commerce) 4 Auto Recorder OEM Chery TIGGO 8 SUV A12A Skyworth is the tier 1 for Chery OEM model 5 Security Professional Hanwha Techwin PNO series CV22 5MP + 4k resolution enterprise class cameras with AI 6 Security Professional Bosch Intelligent I series S3L FLEXIDOME, DINION, Autodome models, with video analytics 7 Security Professional Motorola H5SL S5L 1.2, 3, and 5MP versions, variety of video analytics 8 Security Professional Verkada Dome series TBA 8 new indoor and outdoor models, up to 4k resolution 9 Security Smart Home Amazon/Ring Indoor camera S2LM Compact plug-in design for monitoring with motion detection 10 Security Smart Home HIKVision EZVIZ Lookout DP1 S3LM Replaces peephole in door with touchscreen and 2 way communication 11 Other AR/VR wearable Insta360 Go Camera A12 Very small FF wearable (20 grams), stabilization, and auto-edit 12 Other Drone DJI Mavic Mini H22 Camera is in the payload, does some flight control functions also 13 Other Wearables Motorola Public safety S5LM 4K + full HD recording, >12 hour life, integrates with in-car video systems 14 Auto eMirror SONY (demo) Light vehicles CV22 Demo under challenging low light and high contrast lighting *During Q3 F2020, Ambarella generated pre-production CV revenue from more than 50 unique customers ordering engineering parts, evaluation kits, and/or development boards

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 16 Q2 F2020 (July 2019) Earnings Call Recap 17 customer wins announced

8 Auto 9 Security 3 OEM (in 4 models), 4 aftermarket, 1 tier one 4 home monitoring, 5 professional 1 CV and 7 video processing 3 CV and 6 video processing

Market Application Customer Product AMBA Comment 1 Auto DMS AM (TBA) Commercial vehicles CV22 DMS + for commercial vehicles 2 Auto eMirror T1 Hyundai Mobis 3 camera/3 mirror 1 SoC A9AQ Announcing South Korea's 1st 3 camera eMirror system 3 Auto Recorder AM Thinkware QXD Mega A9AQ 4 camera recorder 4 Auto Recorder AM Thinkware Z500 Plus A12 2 camera dash camera 5 Auto Recorder AM Finedigital GX200/GX2000 A12 4 camera recorder 6 Auto Recorder OEM Geely New Emgrand GS and GL A12 Two new Geely models GS and GL have built-in recorders 7 Auto Recorder OEM Great Wall Motors Wey VV6 SUV A12 or H22 Options for these new models, 1 and 3 channel options 8 Auto Recorder OEM Great Wall Motors ORA R2 A12 EV with recorder 9 Security Professional Motorola H5A CV22 Next generation video analytics to be announced 10 Security Professional Hanwha Techwin (TBA) CV TBA Stated they will use CV from Ambarella 11 Security Professional Vaion Vcam CV22 Vcam dome and panoramic 12 Security Professional Hanwha Techwin Q Series S3L Uses S3 for prof sec line for first time 13 Security Professional Verkada CM61 (TBA) 4K with hybrid cloud architecture 14 Security Home monitoring Alarm.com V723 and V523 S5L Intelligent outdoor and indoor cameras 15 Security Home monitoring ADT LifeShield HD doorbell S2L Integrates into their overall security system, supports Alexa, home control 16 Security Home monitoring Samsung SmartThings S2L Full HD video with 2 way audio 17 Security Home monitoring HIKvision EZVIZ DL30VS S3L Smart lock with night vision capabilities

*During Q2 of F2020, Ambarella generated pre-production CV revenue from over 40 unique customers ordering engineering parts, evaluation kits and/or development boards AMBARELLA.COM COPYRIGHT AMBARELLA 2019 17 Q3 F2020 (October 2019) Review and Q4 Outlook (Q3 F2020 reported November 25, 2019)

Geopolitical factors creating uncertainty and volatility with a wide range of potential outcomes . On October 15, 2019 we provided an update on the impact to our business from the Entity List published on October 9th. This brought clarity to some trade issues, but we continue to see a wide variety of outstanding geopolitical risks, including foreign policy, trade, and IP matters. . Factors potentially disruptive to our business include: . Potential export regulations on advanced technologies . Potential for customers in China to take actions to reduce their dependence on U.S. components that could be subject to new geopolitical developments . Changes to tariffs and/or the Entity List . Market share shifts between our customers . Supply chain issues . Our largest competitor in the security camera market, HiSilicon, a unit of Huawei, is facing headwinds

Q4 F2020 (January, 2020) Outlook . The midpoint of our Q4 revenue guidance range of $55.0 to $59.0 million was slightly above the sell-side analyst consensus expectation of $55.7 million . We anticipate Q4 to be seasonally slow, with automotive and security expected to be down sequentially and other flat to slightly up . We estimate Q3 gross margin between 56.5% to 58.5%

Q3 F2020 (October, 2019) Results . Revenue of $67.9 million was above the high-end of the guidance range of $63.0 million to $67.0 million with all markets up sequentially, led by automotive . Non-GAAP EPS of $0.32 and positive operating cash flow of $21.9 million . No stock was repurchased under an existing authorization of $50.0 million in place through June 2020

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 18 COPYRIGHT AMBARELLA 2019 AMBARELLA COPYRIGHT

www. ambarella.com

[email protected] Louis Gerhardy Corporate Development

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