u-blox Financial Presentation H1 2015

1. locate, communicate, accelerate
H1/2015 Results
u-blox Holding AG
September 4, 2015
Thomas Seiler, CEO
Roland Jud, CFO

2. © u-blox Holding AG, Sep 4, 2015
Disclaimer
Slide 2
This presentation contains certain forward-looking statements. Such forward-looking
statements reflect the current views of management and are subject to known and
unknown risks, uncertainties, assumptions and other factors that may cause actual
results, performance or achievements of the Group to differ materially from those
expressed or implied herein.
Should such risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in this presentation.
u-blox is providing the information in this presentation as of this date and does not
undertake any obligation to update any forward-looking statements contained in it as a
result of new information, future events or otherwise.

3. © u-blox Holding AG, Sep 4, 2015
Agenda
• Introduction
• Operational highlights H1/2015
• Financial results H1/2015
• Business review
• Outlook
• Q&A
Slide 3

4. Operational highlights H1/2015
• 33.1% revenue increase as compared to the first half of 2014
• Strong expansion in automotive sector
• Consumer market continued growth in volume and value
• Industrial markets good progress
• One acquisition
• January 2015: Lesswire (automotive short range modules business)
• Product innovation
• 6 new cutting-edge products launched
© u-blox Holding AG, Sep 4, 2015Slide 4

5. u-blox group H1/2015
© u-blox Holding AG, Sep 4, 2015Slide 5
Change H1/2015
to H1/2014
Revenue 161.9m - 33.1%
Gross profit 72.8m 44.9% 26.3%
EBITDA 36.5m 22.6% 33.9%
Operating profit (EBIT ) 24.8m 15.3% 31.9%
Net profit, attributable to owners of
the parent 15.0m 9.2% 3.9%
Net cash generated from
operating activities 20.5m 12.7% 31.1%
Key figures Amount CHF In relation to
revenue

6. 173.1
219.8
270.0
105.1
121.6
161.9
35.2
46.2
58.6
21.2
27.3
36.5
0
50
100
150
200
250
300
2012 2013 2014 H1/13 H1/14 H1/15
Revenue EBITDA
(million CHF)
Revenue and EBITDA
© u-blox Holding AG, Sep 4, 2015Slide 6
+ 33.1%
CommentsRevenue and EBITDA
• Strong growth of revenues
• + 33.1% compared to H1/14
(+ 30.9% organic, +2.2% acquisitions)
• +30.0% at prior year exchange rates
• Strong +33.9% growth of EBITDA

7. Industrial
Consumer
Automotive
Markets trends
© u-blox Holding AG, Sep 4, 2015Slide 7
Note: Estimate
• Excellent expansion in automotive sector –
navigation, telematics-box
• Consumer market growth with wearable
devices
• Industrial markets strong progress in tracking
applications
CommentsRevenue split per market for H1/15

8. 0
50
100
150
200
250
300
2012 2013 2014 H1/13 H1/14 H1/15
APAC Americas EMEA
25%
25%
46%
41%
28%
35% 48%
26%
26%
48%
46%
25%
29%
43.7
27%
30%
42%
28%
24%
(million CHF)
Revenues by geography
© u-blox Holding AG, Sep 4, 2015Slide 8
Note: based on customers’ billing location
Growth in all geographic regions compared to H1/14
• Asia Pacific +29.9%
• EMEA: +24.3%
• Americas: +48.1%
CommentsRevenues by geographic region
+ 33.1%

9. 46.9% 46.0% 45.4%
46.7%
47.4% 44.9%
0%
10%
20%
30%
40%
50%
60%
0
20
40
60
80
100
120
140
2012 2013 2014 H1/13 H1/14 H1/15
Gross Profit % of revenue
(million CHF) % of revenue
Gross profit
© u-blox Holding AG, Sep 4, 2015Slide 9
• Increase in gross profit to CHF 72.8m in
H1/15 from CHF 57.6m
• Growth of gross profit of +26.3%
compared to H1/14
• Gross profit margin in H1/15 declined
compared to 2014 due to changes in the
product mix
CommentsGross profit / Gross profit margin
+ 26.3%

10. 0
1
2
3
4
5
6
7
0
5
10
15
20
25
30
2012 2013 2014 H1/13 H1/14 H1/15
Antaris u-blox 5 u-blox 6 u-blox 7 u-blox M8 ASP
(million pcs) (CHF)
0
2
4
6
8
10
12
0
5
10
15
20
25
2012 2013 2014 H1/13 H1/14 H1/15
Shipments modules ASP
(million pcs) (CHF)
Shipments and ASP development
© u-blox Holding AG, Sep 4, 2015Slide 10
• Growth of both module and chip volume
• Shipments of new positioning platform u-blox M8 has started
GNSS chipsModules
Note: incl. ANTARIS-Chipset sales by Atmel
+ 31.0%
+ 48.3%

11. Global customer base
© u-blox Holding AG, Sep 4, 2015Slide 11
• Strong and stable customer base
• More than 5000 customers worldwide
• Continued wide spread over different
applications and geographical regions
• Small customer dependency: Largest customer
accounts for 9% of total revenue in H1/15
• 10 biggest customers account for 40% of total
revenue in H1/15
CommentsNumber of customers totaling 80% of revenue
0
10
20
30
40
50
60
70
2012 2013 2014 H1/13 H1/14 H1/15

12. 17.8
21.2
24.5
10.4 11.5
13.3
10.3% 9.7%
9.1%
9.9%
9.5%
8.2%
0%
2%
4%
6%
8%
10%
12%
0
5
10
15
20
25
30
2012 2013 2014 H1/13 H1/14 H1/15
D&M % of revenues
(% of revenues)(million CHF)
Distribution & marketing / Research & development
© u-blox Holding AG, Sep 4, 2015Slide 12
Research & development expensesDistribution & marketing expenses
32.7
38.9 49.9
20.1 22.7
29.9
18.9%
17.7%
18.5%
19.2%
18.7%
18.5%
0%
5%
10%
15%
20%
25%
0
10
20
30
40
50
60
2012 2013 2014 H1/13 H1/14 H1/15
R&D % of revenues
(% of revenues)(million CHF)

13. Research &
Development
69%
Sales,
Marketing,
Support
19%
Logistics,
Administration
12%
459
129
77
Total Headcount = 674
294
408
538
353
464
610
0
100
200
300
400
500
600
700
2012 2013 2014 H1/13 H1/14 H1/15
Employees
© u-blox Holding AG, Sep 4, 2015Slide 13
Average employee level (FTE based)Employee breakdown (end of H1/15, FTE based)
Note: 74% of employees based outside Switzerland (spread over 18 countries) Note: Average number of employees (FTE = full time equivalent)

14. Income statement
© u-blox Holding AG, Sep 4, 2015Slide 14
• Revenue increase of 33.1% from H1/14 to
H1/15
• Increased gross profit by 26.3%
• Increased operational efficiency with OPEX
30.7% of revenue
• H1/15: costs for share based payments in the
amount of CHF 2.2m
• EBITDA growth of 33.9% with margin of
22.6%
• EBIT growth of 31.9% with margin of 15.3%
• Finance costs contain realized and unrealized
fx-loss of CHF 5.1m
• Tax rate of 19.1% compared to year end
2014 with 19.9%
• Net profit with margin of 9.2%
• EPS = CHF 2.25 (diluted EPS: CHF 2.17)
CommentsConsolidated income statement (condensed)
January - June Jan. - Dec.
(in CHF 000s) 2015 2014 2014
(unaudited) (unaudited) (audited)
Revenue 161'912 121'625 270'045
Cost of sales -89'158 -64'031 -147'323
Gross profit 72'754 57'594 122'722
Operating expenses -49'647 -38'897 -84'515
Other income 1'686 101 868
Operating profit (EBIT) 24'793 18'798 39'075
Financial income 198 1'090 4'546
Finance costs -6'502 -385 -658
Profit before income tax (EBT) 18'489 19'503 42'963
Income tax expense -3'525 -5'100 -8'566
14'964 14'403 34'397
Operating profit (EBIT) 24'793 18'798 39'075
Depreciation and amortization 11'748 8'489 19'529
EBITDA 36'541 27'287 58'604
Net profit, attributable to owners
of the parent

15. Segment information
© u-blox Holding AG, Sep 4, 2015Slide 15
(in CHF 000s) 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014
Revenue third 161'760 121'532 152 93 161'912 121'625 161'912 121'625
Revenue intragroup 12'655 9'434 12'655 9'434 -12'655 -9'434 0 0
Total revenue 161'760 121'532 12'807 9'527 174'567 131'059 -12'655 -9'434 161'912 121'625
EBITDA 33'468 25'420 3'106 2'288 36'574 27'708 -33 -421 36'541 27'287
Depreciation -2'691 -2'122 -873 -801 -3'564 -2'923 - - -3'564 -2'923
Amortization -7'949 -4'902 -235 -664 -8'184 -5'566 - - -8'184 -5'566
EBIT
Financial income 198 1'090 198 1'090
Finance costs -6'502 -385 -6'502 -385
EBT -6'337 284 18'489 19'503
June 30 Dec 31 June 30 Dec 31 June 30 Dec 31 June 30 June 30 June 30 Dec 31
2014 2014 2014 2014 2014 2014 2014 2014 2014 2014
Assets 229'902 223'485 13'051 13'460 242'953 236'945 98'567 64'802 341'520 301'747
Positioning and
wireless products
Wireless services Total segments Non-allocated/
eliminations
Group
-33 -421 24'793 18'798
January - June January - June January - JuneJanuary - June January - June
19'21924'82622'828 18'396 1'998 823

16. Statement of financial position (1)
© u-blox Holding AG, Sep 4, 2015Slide 16
• Strong financial position with a liquidity
(incl. marketable securities) of CHF 91.6m
• Inventory CHF 36.3m (Dec. 2014: CHF 33.3m)
• Increase of trade accounts receivable due to
growing revenue
• Increased intangible assets due to acquisition
and capitalization of R&D expenses
• Goodwill (June 2015: CHF 55.2m) net reduced
by CHF 2.7m as result of exchange rate
changes and the acquisition of Lesswire
CommentsConsolidated Statement of financial position (condensed)
June 30, Dec. 31, June 30,
(in CHF 000s) 2015 2014 2014
(unaudited) (audited) (unaudited)
ASSETS
Current assets
Cash and cash equivalents 74'729 37'662 30'390
Marketable securities 16'862 21'730 24'920
Trade accounts receivable 39'767 38'842 35'179
Other current assets 52'847 54'862 38'558
Total current assets 184'205 153'096 129'047
Non-current assets
Property, plant and equipment 14'807 14'836 13'824
Goodwill 55'207 57'903 53'265
Intangible assets 79'823 70'502 58'864
Financial assets 592 584 480
Deferred tax assets 6'886 4'826 6'104
Total non-current assets 157'315 148'651 132'537
Total assets 341'520 301'747 261'584

17. Statement of financial position (2)
© u-blox Holding AG, Sep 4, 2015Slide 17
• Trade accounts payable of CHF 19.7m
• Short-term bank loan of CHF 20.0m paid back
• Bond of CHF 60m issued in April 2015
(6 years, interest rate 1.625%)
• Non-current liabilities contain in addition to the
bond
• Deferred tax liabilities (CHF 4.2m),
• Employee benefits (pensions) (CHF 10.0m)
• Provisions (CHF 5.3m)
• Share capital increase due to exercise of options
CommentsConsolidated Statement of financial position (condensed)
June 30, Dec. 31, June 30,
(in CHF 000s) 2015 2014 2014
(unaudited) (audited) (unaudited)
LIABILITIES AND EQUITY
Liabilities
Current liabilities 42'485 70'860 56'017
Non-current liabilities 80'644 18'011 14'615
Total liabilities 123'129 88'871 70'632
Shareholders’ equity
Share capital 6'034 5'930 5'899
Share premium 83'219 89'531 88'340
Retained earnings 129'138 117'415 96'713
218'391 212'876 190'952
Total liabilities and equity 341'520 301'747 261'584
Total equity

18. 151
180
213
162
191
218
78.7%
79.7%
70.5%
77.9%
73.0%
63.9%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
0
50
100
150
200
2012 2013 2014 H1/13 H1/14 H1/15
Total Equity Equity ratio
(million CHF) (% of total assets)
Statement of financial position
© u-blox Holding AG, Sep 4, 2015Slide 18
• Strong capital base
• Equity ratio decreased due to increase of total
assets and the issuance of a bond
CommentsTotal equity and equity ratio

19. Statement of cash flows
© u-blox Holding AG, Sep 4, 2015Slide 19
CommentsConsolidated statement of cash flows (condensed)
Cash flow from investing activities:
• CHF -4.3m investments into property, plant and
equipment (tools, furniture, equipment)
• CHF -16.0m investments into intangible assets
(Software, capitalization of R&D)
• CHF 4.7m proceeds from marketable securities
Cash flow from financing activities:
• CHF -10.7m dividend 2014 paid in May 2015
• CHF +4.5m capital increase from options
• CHF +39.4m net cash flow from issuance of
bond and repayment of bank loan
Jan. - June 2015 Jan. - June 2014
(in CHF 000s) (unaudited) (unaudited)
20'522 15'655
-15'751 -33'882
33'232 15'778
38'003 -2'449
37'662 33'163
-936 -324
74'729 30'390
Net increase/(decrease) in cash
and cash equivalents
Cash and cash equivalents at
end of period
Net cash generated from operating
activities
Net cash used in investing activities
Net cash provided by financing
activities
Cash and cash equivalents at
beginning of period
Effect of exchange rate fluctuations
on cash and cash equivalents

20. locate, communicate, accelerate
Business update

21. Acquisition of automotive short range modules business
from Lesswire
2009 2011
• NeonSeven
• Geotate
• Fusion Wireless
• SigNav assets
2012
• 4M Wireless
• Cognovo
• Fastrax
2014
• connectBlue
• Antcor
© u-blox Holding AG, Sep 4, 2015Slide 21
lesswire
• Acquisition of assets as of 1 Jan 2015: Bluetooth and Wi-Fi module products,
design IP and staff
• Both staff and products have been seamlessly integrated into u-blox’ operations
• Strong business traction
2015
• Lesswire assets

22. locate, communicate, accelerate
The future of automotive: A case study.
How autonomous driving will change our lives.
01
01

23. Who will sit up front...
02

24. 1. Lane departure warning
Driver only
2. Active lane keeping
Assisted
3. Traffic jam pilot
Partially automated
5. Highway pilot
Fully automated
4. Highway driving assistant
Highly automated
We are already well on the
way to autonomous driving.
And the final developments will
soon be in place.
03
6. Robot taxi
Autonomous
Red step
Driver not required

25. Stolen vehicle tracking
Internet connectivity
Emergency call systems
In-car hotspot
Hands-free telephony
Software upgrades
Telematics
Navigation
Collision avoidance
Advanced driver assistance
Driving optimization
Autonomous cars need and generate lots of information.
But they will be more than just connected:
they will be integrated.
Stolen
Vehicle
tracking
Internet connectivity
Emergency call systems
In-car hotspot
Hands-free telephony
Software
upgrades
Telematics
Navigation
Collision avoidance
Advanced driver assistance
Driving optimization
04

26. 05
What do we need for autonomous driving?
u-blox provides the key technologies.
Concurrent multi-GNSS
INTEGRATION
POSITIONING
SHORT RANGE
CONNECTIVITY
CELLULAR
CONNECTIVITY
LTE basestation
Next car status
Police and emergency vehicles
Local road conditions
Street signs
Map data
Traffic lights
Traffic information
Weather data

27. Positioning: always know where you are.
A multitude of technologies at work.
3D Dead Reckoning
Kalman filters
Multipath suppressionMulti-constellation GNSS
(GPS / GLONASS / BeiDou / Galileo)
Multi-frequency handling
06

28. communication: reliable wireless connectivity.
Robust protocols for uninterrupted data streams.
Cellular
LTE
• Multipath detection
• Cell edge
• MIMO
• Carrier aggregation
Short Range Radio
Bluetooth and Wi-Fi
• RF link budget
• Immunity
• Error correction
07

29. Product launch highlights
© u-blox Holding AG, Sep 4, 2015Slide 29
TOBY-L280
One of the
world‘s fastet 4G
LTE modules in a
version for Asia-
Pacific area
ODIN-W2 & W262
Combined
Bluetooth/Wi-Fi
module for „Internet
of Things“
applications
CAM-M8C
Positioning module with
build-in antenna
ELLA-W1
Multi-radio module BT
and Wi-Fi for industrial
and automotive use
EMMY-W1
Multi-radio module BT,
BTLE, Wi-Fi and NFC for
in-car use

30. Good mix of existing customers and new business wins
• All products (Cellular, Short Range, Positioning) experienced strong traction
© u-blox Holding AG, Sep 4, 2015Slide 30
Romteck, Australia
Remote monitoring systems and
services catering to fire services,
airports, defense organizations
and mining companies
REYAX Technology, Taiwan
Telematics applications, in
particular vehicle tracking, fleet
management and insurance
box.

31. Strategic alliances
Slide 31
M2m alliance
Joining M2M Alliance gives us
immediate access to the industry
leaders in the M2M and Internet of
Things ecosystems.
CAR 2 CAR Communication Consortium
Development and deployment of Cooperative
Intelligent Transport Systems (C-ITS). Their
ultimate goal is to improve road traffic safety and
efficiency
© u-blox Holding AG, Sep 4, 2015

32. Launch of a redesigned website
• Quick and easy access to
essential product information
• Intuitive product selector
• Support portal
• Forum
• Improved responsive
functionality
• Expanded browsing
experience for investor
information
© u-blox Holding AG, Sep 4, 2015Slide 32

33. Strategic priorities 2015 (1)
Slide 33
Outlook 2015
• Expand 3G and 4G module portfolios with
new variants addressing specific market
regions and connectivity requirements
• Further develop our market-leading position
in first-mount vehicle navigation systems
based on new 3D Automotive Dead
Reckoning technology
• Introduce new GNSS antenna modules based
on the u-blox M8 and incorporating an
integrated antenna
• Continue to develop products for the
growing markets based on the Internet of
Things and more connectivity solutions in the
short range radio domain
© u-blox Holding AG, Sep 4, 2015
Outlook 2015
• Take advantage of our expanded sales force
and focus on specific market sectors to
accelerate sales in vertical markets
• Build upon our leadership in global automotive
markets by improving our navigation
technology and automotive quality products
• Build market momentum with our LTE
products
• Expand relationships with customers to allow
them to deliver added value in their products
• Continue the growth trend in all regions
through the cross selling between all product
categories
Technology
and innovation
Market
Position

34. Strategic priorities 2015 (2)
© u-blox Holding AG, Sep 4, 2015Slide 34
Outlook 2015
• Optimize internal structures and processing
capabilities
• Increase internal resources to support
business growth
• Promote further innovation in all three
technology categories
• Set and meet targets for higher operational
efficiency
• Boost marketing capacity and expand
marketing and sales tools
Outlook 2015
• Investigate new and complementary
technologies that will allow us to
maximize growth in both the positioning
and wireless sectors
• Establish additional partnerships to give
customers even easier access to our
technologies
• Empower customers with improved design
tools to speed time to market for
attractive products
• Review new acquisition opportunities
through which we can open up additional
market segments
Operational
excellence
Strategic partnership and
acquisition opportunities

35. Outlook

36. • Continued strong business growth in 2015
• Some impact by product mix on relative gross margin
• Natural hedging maintains relative gross margin
against foreign exchange variations
• Exchange rate assumptions for 2015:
EUR/CHF: 1.065 USD/CHF: 0.974 GBP/CHF: 1.500
• FX-sensitivity against CHF on Guidance 2015
Outlook
Goals
• Grow business with new products
• Wireless
o Expansion of module product line
• Positioning
o Migration to u-blox 8
o Expansion of module product line
• Continued focus on strategic development
• Strengthening of the global presence
• Operational excellence for higher efficiency
Actual
FY 2014
Actual
HY 2015
Unchanged
Guidance 2015*)
Revenue 270.0m 161.9m 335 – 345m
EBIT 39.1m 24.8m 48 – 53m
CHF CHF CHF
Financial performance outlook 2015
*) This guidance is based on the absence of unforeseen economic adversity and exchange
rates assumed at budget level
+10% of USD EUR GBP
Revenue + 8.4% + 1.5% 0%
EBIT + 21.4% + 0.8% - 1.3%
© u-blox Holding AG, Sep 4, 2015Slide 36

37. © u-blox Holding AG, Sep 4, 2015
Upcoming events
• Annual results 2015 March 18, 2016
• Annual General Meeting April 26, 2016
Slide 37

38. Thank you!
locate, communicate, accelerate