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© 2014 Belden Inc. | belden.com | @BeldenInc

Roel Vestjens President, Broadcast Solutions

May 2015

Broadcast Solutions

© 2014 Belden Inc. | belden.com | @BeldenInc 2

Our commentary and responses to your questions may contain forward-looking statements, including our outlook for the 2015 second quarter and full year. Forward-looking statements include statements regarding future financial performance (including revenues, expenses, earnings, margins, cash flows, dividends, capital expenditures and financial condition), plans and objectives and related assumptions. Belden undertakes no obligation to update any such statements to reflect later developments, except as required by law. Information on factors that could cause actual results to vary materially from those discussed today is available in the press release announcing 2015 first quarter results, our most recent Annual Report on Form 10-K as filed with the SEC on February 23, 2015 (including those discussed under “Risk Factors” in Part I, Item 1A and in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7), and our subsequent filings with the Securities and Exchange Commission.

Safe Harbor Statement

Non-GAAP Measures On this call we will discuss some non-GAAP measures (denoted by footnote) in discussing Belden’s performance, and the reconciliation of those measures to the most comparable GAAP measures is contained within this presentation or available at our website www.Belden.com under Investor Relations.

http://www.belden.com/


Belden’s Business Transformation

2005

2008

2012

2015

Strategy, Culture and Values

BUILD The Foundation

Belden Business System

POSITION For Accelerated Value Creation

Market and Geographic Footprint

Consistent Financial Performance

Portfolio Expansion

Talent/ Leadership

SCALE THE BUSINESS PLATFORMS AROUND

THE CUSTOMER

Belden TODAY

Belden’s transformation has resulted in a… Global Signal Transmission Solutions Company


A Global Signal Transmission Solutions Company

Broadcast Enterprise Connectivity

Industrial Connectivity Industrial IT Network

Security

Served Available Market Size $4.9B $3.3B $4.0B $1.3B $4.3B

Long-term Market Growth Rate1 3 - 5% 1 - 3% 2 - 4% 4 - 6% 10 - 12%

TTM Revenue2 $975.7M $452.1M $676.0M $260.4M $165.0M Market Share2 20% 14% 17% 20% 4% TTM EBITDA Margin3 14.6% 14.5% 15.8% 19.0% 26.7%

Key Markets

• Broadcast Studios

• Broadband Connectivity

• Finance • Healthcare

• Discrete • Process • Energy • Transportation

• Security and Vulnerability

Applications

Creation

Aggregation

Delivery

Data Center

Local Area Network

Machine Control

Operation Technology

Network Security

Payment Systems

Utilities / Energy

Healthcare

Retail Data

1. Served addressable market. 2. Based on TTM revenues plus impact of acquisitions 3. Based on TTM. Adjusted results. See appendix for reconciliation to comparable GAAP results.


Belden: Leading the Way in an Interconnected World

Certainty Unmatched product and manufacturing excellence for mission-critical applications

Innovation Continuous advancement of signal transmission solutions for a wide-range of enterprise, industrial and broadcast applications

Trust A global partner providing the network expertise and support that helps enable our customers' success

Customers Rely on Belden for…


Cable and Connectivity

Interfaces and Routing

Playout Systems

Camera Mounted Fiber Solutions

Monitoring Systems

In-Home Network

Outside Plant

Broadcast Solutions Leading Video Production Solutions and Connectivity Systems

Leading provider of production, distribution and connectivity systems for television broadcast, cable, satellite and IPTV industries

Key Markets • Outside Broadcast • Sport Venues • Broadcast Studios • Service Providers (Cable,

Broadband, Satellite, Telecom)

Key Applications • Live Production Signal Management • Program Playout for

Broadcasters • Monitoring for Pay TV

Operators • Broadband Connectivity • Tap-to-TV

Solutions Representative Customers

2014 Market Size: $4.9B • Revenues: 975.7M* • Market Share: 20%

* TTM. Adjusted results. See appendix for reconciliation to comparable GAAP results.


2014 Highlights and Financial Performance

Scaling the platform to capture customer share and secure market leadership

1. Adjusted results. See Appendix for reconciliation to comparable GAAP results 2. Calculated as Adjusted EBITDA less capital expenditures

2011 2014 Variance

EBITDA1 $30.2 $139.3 361%

EBITDA %1 9.6% 15.0% +540 bps

Free Cash Flow2 $25.5 $105.9 315%

Revenues and Profitability (in millions) EBITDA ($) Rev ($)

$-

$40

$80

$120

$160

$200

$-

$200

$400

$600

$800

$1,000

2011 2012 2013 2014

Revenues EBITDA


Key Trends Driving the Broadcast Market

Expanded broadcast platform enables Belden to capitalize on these trends

4K and Automation driving more infrastructure investments

More Over the Top content

offered by broadcasters and

non-traditional providers

IP Transition gaining

momentum in the broadcast studio

Video consumption is

growing at an unprecedented

rate


Traditional Broadcast Environment

Distributors

Network Operators

Aggregators

Broadcasters

Creators

Studios

Consumers


Over the Top (OTT)

Evolution of the Broadcast Environment

Creators Aggregators Distributors

Network Operators Broadcasters Studios

Consumers

Complexity of the infrastructure and delivery model driving the need for automation

200+

Dev

ices












rate


Video Traffic will reach 80% in 20181

1.3 million videos viewed each minute1

10x CAGR of data consumption since 2009

Significant Growth In Video

Percent of Bandwidth Consumed By Video2

30%

43%

49%

58% 61%

64%

0%

10%

20%

30%

40%

50%

60%

70%

2009 2010 2011 2012 2013 2014E

1. Cisco VNI June 2014 2. Sandvine Global Internet Pehnomena Reports (2012-2014), North America Fixed


Consumption Driving Demand for Faster Internet Speeds

Online M r

10 a.m. 2 p.m.

6 p.m. 10 p.m.

2 a.m.

Video 64%

Current Home Infrastructure

We provide unique, patented solutions for in-home connectivity. As consumption increases, the home and distribution network will need upgrades.

Average Broadband Speed is 16 Mbps

48 Mbps Average Fixed Broadband speed by 2018

Belden Entry

Not Belden












rate


4K gaining Momentum – TVs Available for the Home

Production quality gains viewers, demands new infrastructure investments

Source: IHS Electronics & Media

Vendors aggressively pushing 4K Ultra HD

Accelerated adoption in 2017


4K Tells Better Stories

84 lens mount

LDX Camera

NVISION Routing

Karrera/ Kayenne

Edius NLE

Telecast Fiber

Copperhead

Densite Modular

K2 Dyno Replay

K2 Summit Servers

Kaleido Monitoring

4K Solutions


Productivity Challenges Require Automation Investments

OTT content must be available immediately after

airing for consumption on demand

Broadcasters Must Do More With Less • Need to automate production • Willing to invest in Capex as long as it decreases Opex • Achieve breakeven on investment within 1 Year

Belden helps customers be more agile in an ever-changing production environment

Multiple Viewing

Platforms

Increased channel count

Advertising revenue

per channel decreasing












rate


Benefits of IP for Broadcasters

IP Transition Underway in the Broadcast Market

Belden’s experience with environments involving multiple applications, protocols and interconnections helps customers easily transition to an IP environment.

0%

20%

40%

60%

80%

100%

1985 1990 1995 2000 2005 2010 2015 2020

Enterprise Industrial Broadcast

IP Adoption Over Time

Multiple video streams over a single Ethernet cable

Ability to integrate video from multiple remote facilities

Format agnostic (SD, HD, 4K, or OTT)


Glass-to-Glass IP Solution

IP from Creation to Playout: Maximizing Business Flexibility

Migration Flexibility • Existing facilities • Greenfield sites

Agile Infrastructure • COTS IP Fabric • Deterministic IP • 4K over 1 wire

Expansive Control • SDN for unified,

“Broadcast” control

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&docid=lP1XRQeBWnyfRM&tbnid=wWoojlZn7-pRaM:&ved=0CAUQjRw&url=http://news.creativecow.net/story/871683&ei=PPqxU6zJC4Xv8AHs3oGwBw&bvm=bv.69837884,d.b2k&psig=AFQjCNExPT9J6SMTGtA22NBr8m4VrQTqEg&ust=1404259243485200


Belden Offers the Most Complete Portfolio

IN THE FIELD IN THE STUDIO

IN THE CONTROL ROOM IN THE HOME


The Importance of Scale

$68 $57

$30

$-

$20

$40

$60

$80

BeldenBroadcast

Competitor A Competitor B

Research and Development

Belden has a competitive edge in terms of available dollars for R&D spend

Global Customer Reach

Canada

Mexico

Latin America

China

Brazil

Australia

Russia

Japan

Italy

Spain

France Germany

UK Ireland

Turkey

Dubai India Singapore

America


Belden’s Broadcast Solutions Align with Industry Imperatives

Improve Content Production Quality

Create More Content Air it Faster

Broadband Connectivity Quality

Reduce OpEx

Innovative Infrastructure

Automated Processes

Broadband Quality

IP Connectivity

Industry Imperatives Belden Strengths


Growth Expansion

Broadcast

+

=

3 - 5%

2%

5 - 7%

Market Growth

Share Capture

3 Year CAGR

Priorities • Leverage scale to serve our customers

globally • Continue to differentiate through R&D

investment • Utilize past experiences to drive IP

convergence in the broadcast industry • Provide unmatched quality, delivery

and cost effectiveness to customers


Questions?

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