Jefferies 2013 Global

Technology, Media and

Telecom ConferenceMay 2013

Forward-looking StatementsForward-looking Statements

2

Certain statements made over the course of this presentation may constitute forward-looking statements, including statements regarding the markets in which we operate, the demand for our products and services and the advantages of our services compared to others. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or other achievements. Actual results may differ materially from the results anticipated by these forward-looking statements, which apply only as of the date of this presentation, as a result of various important factors, including those described in Item 1A of our Annual Report filed on Form 10-K for the fiscal year ended December 31, 2011 and other reports filed with the Securities and Exchange Commission. If one or more of these factors materialize, or if any underlying assumptions prove incorrect, our actual results, performance or achievements may vary materially from any future results, performance or achievements expressed or implied by these forward-looking statements. We disclaim any obligation to update any forward-looking statement for subsequently occurring events or circumstances.

In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Definitions of these non-GAAP measures and reconciliations between certain GAAP and non-GAAP measures are included in the appendix to this presentation.

$9.3

$12.6 $11.8

Q1'12 Q1'13 Q4'12

$3.3

$6.0 $6.5

Q1'12 Q1'13 Q4'12

Record Q1’13 performanceRecord Q1’13 performance

3

Revenue$ in millions

EBITDA$ in millions

UFCF1

$ in millions

$36.0 $36.2

$16.8 $13.1

$31.2

$52.8 $49.3

Q1'12 Q1'13 Q4'12

RigNet Revenue Nessco revenue

(1) UFCF defined as EBITDA less capex

% of revenue 29.7% 23.9% 23.9% 10.5% 11.4% 13.2%

• Total revenue increased to $52.8 million in Q1’13 up 7.2% compared to the previous quarter

• Organic revenue increased to $36.0 million in Q1’13 up 15.4% compared to the same quarter last year

• Achieved record quarterly adjusted EBITDA of $12.6 million

• UFCF1 increased to $6.0 million in Q1’13 up $2.7 million compared to the same quarter last year

• Capital expenditures of $6.6 million increased compared to the previous quarter due in part to build up of

spare equipment and commencement of an upgrade to RigNet’s global terrestrial network that will increase

capacity and redundancy

RigNet Investment HighlightsRigNet Investment Highlights

4

Strong Organic Growth within the Oil and Gas Industry

Growing and Attractive Market Runway

High Operating Leverage / Free Cash Flow

Relative Valuation Discount

Market Share Growth

Founded in 2001, RigNet (NASDAQ: RNET) is a leading provider of remote communications, systems integration and collaborative applications to the oil and gas industry, both offshore and onshore, around the world

Providing Reliable, Remote Communications

for the Life of the Oil Field

Providing Reliable, Remote Communications

for the Life of the Oil Field

5

Offshore Rigs

Offices

Onshore Rigs

Completion and

Production

Energy Maritime

Communications for the Life of the Oil Field The oil and gas industry is remote,

mobile and variable, with the

reliance on technology greater

than ever.

RigNet provides managed

communications services that free

customers to focus on finding and

producing oil and gas:

• Reliable communications

around the world, supporting

rig productivity, safety and

crew welfare

• Technology flexibility –

providing best-of-breed

solutions that best meet

customers’ needs

• Local customer support for

rapid deployment and

resolution

U.S., 22.8%

International,

77.2%

RigNet Business ModelRigNet Business Model

6

• Provide mission critical remote communications services to the oil and gas industry, principally on offshore drilling rigs that are mobile and becoming increasingly remote in the search for oil and gas

• Majority of revenues from recurring, multi-tenant revenue model under long-term contracts

• Revenue growth from sites added as well as ARPU growth from secondary customers and industry-leading value-added services

• Provide managed services to 1,000+ sites in 30+ countries on six continents1

• Partner with our customers’ IT departments to serve remote end users, develop new services and allow customers to focus on finding and producing oil and gas

• Purposefully not as backward-integrated as others, which allows for best-of-breed solutions and success-based capex at the edge

• Low customer churn, stable end-user pricing and high barriers-to-entry

(1) As of December 31, 2012

Global, Diversified Presence

Note: As of December 31, 2012.

U.S. Service Centers

Growing and Attractive Market RunwayGrowing and Attractive Market Runway

RigNethas multiple

runways to grow in the remote

communications industry

Increase

Penetration of

Secondary

Customers

Cumulative Return

Drillers

Operators

Service Companies

Pay-Per-Use

Expand

Penetration of

Value Added

Services

Remote Video

TurboNet

Wi-Fi Hotspot

Increase

Horizontal

Footprint of

Drilling Rigs

Number of Rigs

Focus on Growing ARPU

Mega-trends Driving Remote Communications

� Integrated operations� ERP applications at the edge� Crew welfare� Remote video� Heightened safety regulations

Leveraging Organic and Inorganic Opportunities to Grow

Extend into

Adjacent

Verticals

Production / Vessels

General Maritime

Government / Military

Mining / Engineering / Construction

Today Future

8

Bandwidth Needs Growing at the EdgeBandwidth Needs Growing at the Edge

Source: Various; Company analysis

Total Oil & Gas VSAT Market

2012 – 2017

Bandwidth: Gbps

Key drivers

• Video-related services

• Integrated operations• Overseeing and directing offshore activities from

onshore decision centers

• Safety focus / increased regulatory oversight• Aftermath of BP Macondo spill

• Crew welfare• Keeping crews happy in their off hours

• Ultra-deep water exploration• More remote, harsh and complex

• Average bandwidth per offshore rig expected

to increase from 1.0 Mbps in 2012 to 2.2

Mbps in 2017

• Favorable technology changes in downhole

communications and satellite backhaul

(high-throughput satellites)

2.6

3.0

3.4

4.1

5.3

7.0

2012 2013 2014 2015 2016 2017

Ultra-Deep Water (UDW) Markets Expanding, Driving

the Need for Reliable Remote Communications

Ultra-Deep Water (UDW) Markets Expanding, Driving

the Need for Reliable Remote Communications

RigNet POPRigNet Offices RigNet Teleport RigNet CoreHUB

(1) Current UDW activity defined as rigs with 7,500+ water depth capability and contracted as of May 6, 2013.

(2) Visible supply includes rigs with 7,500+ water depth capability either currently under construction, planned or on order.

Source: IHS-Petrodata RigBase Current Activity Data (May 6, 2013)

Future UDW Rig Supply2

41

38

20 8

10

2

3

2

2

1

Current UDW Activity1

• UDW drilling is more complex and remote with high safety, operational and

performance requirements

• Additional UDW markets are expanding, which requires robust, remote communications in new areas

• UDW rig supply growing to meet demand

Existing UDWMarkets

Emerging UDWMarkets

9

128 128 128 128 128 128 128

2041 52 63 70 76

128

148

169180

191198

204

2012 2013 2014 2015 2016 2017 2018

Delivered Visable supply

1

$300

$300

$500 $1,100

Rigs Systems Integration Production Potential Market

10

Market Runway Tripled with Nessco AcquisitionMarket Runway Tripled with Nessco Acquisition

Source: Various; Company analysis

Transaction Details

Acquisition Rationale and Synergies

• Nessco is a leader in telecommunications systems

integration (SI) for the oil and gas industry, an estimated

$300MM market with an 11% growth rate

• Nessco designs, builds, installs and commissions complex

telecommunications systems for offshore and onshore oil

and gas production facilities, providing RigNet a key entry

point into the offshore production vertical

• Nessco’s business to benefit from RigNet’s global footprint,

larger scale, customer relationships and access to capital

• RigNet strengthens its competitive position with systems

integration capabilities and a growth runway into the oil and

gas production market

• All cash purchase price of $48.9m (£31.1m) or 6.7x FY 2012

EBITDA

• Entered into an amended credit facility that provides both a

$66.4m term facility and $10.0m revolving facility

• Pro forma EBITDA leverage ratio is approximately 1.5x

On July 05, 2012, announced the acquisition of

Nessco Group Holdings Ltd (Nessco) in Aberdeen

$ in millions

Overview of Core Drilling Rig MarketOverview of Core Drilling Rig Market

11

Offshore (Primary Classes) U.S. Onshore

Jackups Semi-submersibles Drillships Rig

Description

Up to 400 Feet of

Water; contracted for

30 days to 5 years

Up to 10,000 Feet of

Water; contracted for 3

to 5 years

Up to 12,000 Feet of

Water; contracted for 3

to 5 years

Contracted for 30 days

to 2 years

Rig Day Rate $100,000+ $350,000+ $415,000+ $22,500+

Typical Crew Size 50 100-200 100-200 20-50

# of Units 590+ 230+ 150+ 1,700+

Management estimates that RigNet’’’’s communications day rates represent <1% of total rig day rates

Note: Offshore # of units includes total unit count from IHS-PetrodataSource: IHS-Petrodata (May, 2013), Spears and Associates (March 2013), Company Estimates

Overview of Oil and Gas Step-out MarketsOverview of Oil and Gas Step-out Markets

12

Production Energy Maritime International Land SOIL

Fixed Floating Vessels Rigs OFSCorporate

Networks

Description

Manned and

Unmanned

installations,

MOPU

FPSO/FSO,

TLP/Spars, Semis,

FLNG

Supply, Seismic,

Support and

Construction

Land based rigs

outside of the

United States

Man Camps,

Remote Offices,

Wireline Trucks,

etc.

Collaborative

Oil & Gas

Extranet

# Active Units 8,500+ 340+ 3,900+ 3,600+ N/A N/A

Customer

Value Proposition

Provide reliable communications to same

customers after the drilling campaign

Provide global

connectivity for

vessels that work

specifically in O&G

markets

Provide enterprise grade

communications anywhere our

customers drill

Allow secure,

reliable sharing

of information,

applications

Investor ImpactLong term contracts leveraging same

infrastructure and solutions

Leverage economies

of scale in highest

margin maritime

segment

Extend successful US Land model to

more stable market segment

Differentiated

offering

Source: IHS-Petrodata (March 2013), Spears and Associates (March 2013), Company estimates

Blue-chip Customer BaseBlue-chip Customer Base

13

Drilling Companies Operators Service Companies

Diverse customer base with no excessive concentration

BruneiShell

History of Strong GrowthHistory of Strong Growth

14

Revenue$ in millions

(1) UFCF defined as EBITDA less CapEx

Source: Company data, Wall Street Estimates

• High EBITDA margins from operating leverage; favorable free cash flow

• Strong balance sheet to support future organic and inorganic growth

• All organic growth until Nessco acquired in Q3, 2012

EBITDA and UFCF1

$ in millions

$67

$90 $81

$93

$109

$162

$216

2007 2008 2009 2010 2011 2012 2013E

$18

$30 $29 $30 $33

$44

$57

$10

$22 $19

$16 $14

$22

$31

2007 2008 2009 2010 2011 2012 2013E

EBITDA UFCF

7%15%

22%30%

51%48%

45%43%

42% 37% 33% 27%

100% 100% 100% 100%

2005 2007 2009 2011

RigNet Harris CapRock Others

(15%)

(8%)

23%

Growth Driven by Market Share GainsGrowth Driven by Market Share Gains

15

Global Market Share – Offshore Rigs

2005 - 2011

• RigNet is the only major provider to have grown market share in offshore rigs over the

past few years – RigNet’s managed services model is preferred to transport providers

• RigNet delivers on criteria important to demanding oil and gas customers

• RigNet is the last remaining independent global provider of remote communications to

the oil and gas industry after recent provider consolidation wave

Source: Various; Company analysis

Industry Ranking vs. Key Success Criteria

Global Footprint Strong

Value-Added

SolutionsStrong

Network

ReliabilityStrong

Customer

SupportStrong

∆ ’05-’11

16

Valuation Upside PotentialValuation Upside PotentialTEV / EBITDA 2013 Multiples

for Peer Groups

RigNet is being valued at a discount relative to peer groups, measured both as a multiple of

EBITDA and as a multiple of free cash flow

Note: Data as of 5/3/13, numbers in parentheses next to peer groups denote number of companies

(1) UFCF defined as EBITDA less capex

Source: FactSet

TEV / UFCF 2013 Multiples1

for Peer Groups

7.2x 8.0x 7.5x

12.9x

19.4x

7.2x

RigNet Telecom

Services (4)

Oil Field

Services (6)

Infrastructure

as a Service (3)

Towers (3) Offshore

Drilling (6)

Peer Group Avg: 11.0xPeer Group Avg: 11.0x

13.1x

18.2x

13.5x

42.7x

26.9x

NM

RigNet Telecom

Services (4)

Oil Field

Services (6)

Infrastructure

as a Service (3)

Towers (3) Offshore

Drilling (6)

Peer Group Avg: 20.3x

Stock PerformanceStock Performance

17

• Share price up over 97% since IPO, but hampered by size, available float

and low trading volume

• Analysts raised 12-month price targets to $25.00-$29.00 following Q4, 2012 earnings

release

Source: FactSet

0.0

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

1.0

$10.00

$12.00

$14.00

$16.00

$18.00

$20.00

$22.00

$24.00

$26.00

12/15/2010 6/7/2011 11/28/2011 5/20/2012 11/10/2012 5/3/2013

Vo

lum

e (

mil

lio

ns)

Pri

ce

RigNet Volume S&P 500 (indexed) Annotations

5/3/13: Up 97% since IPO7/5/12 Announced

Nessco acquisition12/14/2010: IPO priced at $12 per share

RigNet Investment HighlightsRigNet Investment Highlights

18

Strong Organic Growth within the Oil and Gas Industry

Growing and Attractive Market Runway

High Operating Leverage / Free Cash Flow

Relative Valuation Discount

Market Share Growth

Leading provider of managed and mission critical remote communications, systems integration and collaborative applications to the oil and gas industry, both offshore and onshore, around the world: RigNet (NASDAQ: RNET)

THANK YOUTHANK YOU

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