January2017

InvestorReview

Thispresenta8oncontainsforward-lookingstatementsreflec8ngourcurrentexpecta8onsthatinvolverisksanduncertain8eswhicharesubjecttosafeharborsundertheSecuri8esActof1933,asamended,ortheSecuri8esAct,andtheSecuri8esExchangeActof1934,asamended,ortheExchangeAct.Theseforward-lookingstatementsmayinclude,butarenotlimitedto,statementsconcerningourplans,objec8ves,expecta8onsandinten8ons,futurefinancialposi8on,futurerevenues,projectedcosts,expecta8onsregardingdemandandacceptanceforourtechnologies,growthopportuni8esandtrendsinthemarketinwhichweoperate,prospectsandplansandobjec8vesofmanagement.Thewords“an8cipates,”“believes,”“es8mates,"“expects,”“intends,”“may,”“plans,”“projects,”“will,”“would”andsimilarexpressionsareintendedtoiden8fyforward-lookingstatements,althoughnotallforward-lookingstatementscontaintheseiden8fyingwords.Wemaynotactuallyachievetheplans,inten8onsorexpecta8onsdisclosedinourforward-lookingstatements,andyoushouldnotplaceunduerelianceonourforward-lookingstatements.Theseforward-lookingstatementsinvolverisksanduncertain8esthatcouldcauseouractualresultstodiffermateriallyfromthoseintheforward-lookingstatements,including,withoutlimita8on,theriskssetforthinPartII,Item1A,“RiskFactors”inourQuarterlyReportsonForm10-QandinourotherfilingswiththeSecuri8esandExchangeCommission.Wedonotassumeanyobliga8ontoupdateanyforward-lookingstatements.

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Forward-LookingStatements

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•  LargemarketshiXingtowardsVocera

•  MarketleaderwithcompellingROI

•  Largewinsvalidatesalesstrategy•  SoXwareacquisi8onextendspla]orm

•  Accelera8ngtowardtargetfinancialmodel

*Earningsbeforeinterest,taxes,deprecia8onandamor8za8on,andfurtherexcludesstock-basedcompensa8onandchangeinfairvalueofwarrantandop8onliabili8es.

**Representsthehighendofthecompany’sguidancerange

[VALUE]M

[VALUE]M

$128M

-13%

-3%3%

FY14 FY15 FY16Guide-High**

Revenue A-EBITDA%*

SignificantValueCrea8ngOpportunity

(1)JointCommission,anindependenthealthcareaccredita8onorganiza8on(2)Agarwalet.al.Univ.ofMaryland,2010

92%ofphysiciansuseunsecuredSMStextforpaRentcare,leadingtodatabreechesandHIPAAviola8onsresul8nginover$1.5Minfinesperyear

EfficientcommunicaRonisaprimarycomponentindrivingpa8entengagementandsaRsfacRon

NursesoXenonlyspend20%oftheirRmedeliveringdirectcareatthepa8entbedside

69%ofaccidentaldeathsandseriousinjuriesinhospitalsarecausedbycommunica8onsbreakdowns1

CybercriminalsareincreasinglygoingaXertargetsinthemedicalandhealthcarever8cals

$12billionwastedannually

InU.S.hospitalsasaresultofcommunica8oninefficiencies2

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HealthcareCommunica8onChallenges

MarketForces VoceraForces

5

Poli%calForces

Sales&Marke%ng

Product

TechnologyForces

DeviceofChoiceCC&C

UnifiedPla3orm

ROISellingCrossSelling

System-levelDeals

MeaningfulUseHangoverACARepeal

Medicare/MedicaidHospitalBudgets

ScalabilityIntegraGon

UnifiedPla3orm

StrongBacklog/DefRevenue

ApproachingTargetmodel

2017Context

VoceraBefore VoceraNow

Communica8ons

Badge-Centric

PointProduct

DepartmentSale

ClinicalWorkflow

SoXware-Centric

CompleteSolu8on

EnterpriseSale

StrategicEvolu8on

•  LargeSystemDeals•  Furtherpenetrateexis8ng

healthsystemcustomers•  Con8nuepaceofnew

customeracquisi8on

Buildingmomentumacrossnewproducts•  EHRIntegra8on•  Collabora8onSuite•  ClinicalIntegra8on•  EvenDrivenAlerts•  CareExperience

ExtendReachtoNewUsers•  Physicians•  LongTermCare•  SurgeryCenters

A^racRveInternaRonalMarkets•  Canada•  UnitedKingdom•  SaudiArabia•  UAE•  Qatar•  Australia•  Singapore•  Malaysia

CoreCustomerGrowth

So_ware

NewUsers

InternaRonalExpansion

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OurOpportunity:Mul8pleAvenuesforGrowth

Quality ExperiencePaRent-CenteredCostEnhancehowcareisprovidedtohelppa8entstoachievebeneroutcomes

IncreaseOpera8onalEfficiencies

Improvepa8entexperiencebyallowing

caregiverstobePa8entCentered

Improvethecaregiverexperiencebyimprovingworkflowandempowering

careteams

TheQuadrupleAim

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OurMission

Byenablingthecareteamtogetthedata,context,presence,andinsightsneededto…AchievetheQuadrupleAim

FocusonthePaRent

Enhanceworkflows

MakeinformaRonandhelpeasiertofind

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HowDoWeDoThat?

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Communicate Engage

ExperienceImproveresponse8mes,pa8entcare,

safetyandsa8sfac8on

Over120clinicalintegra8ons

SecureText,Voice,Image

ClinicalCommunica8onandCollabora8on

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HospitalStaff Physicians PostAcute Home

Badge MC40-HC iPhone Android Tablets Desktop

Voice SecureTex8ng ClinicalIntegra8onandWorkflow

Pa8entEngagement

VoceraSo_warePladormCommunica8onandClinicalWorkflowsMasterDirectorywithCareTeamSyncStaffAssignmentandOn-CallScheduling

Analy8csandRepor8ngCer8fiedSecurityClinicalSystemIntegra8ons

Enterprise-GradeCommunica8onPla]orm

Vocera’sClinicalIntegraRons

EHR NurseCall

PhysiologicMonitoring

Pa8entManagement

RTLS FallPreven8on

EnhancePa8entSafety

IncreasePa8entSa8sfac8on

ImproveTeamEfficiency

DecreaseLengthofStay

Pla]ormintegra8ondeliverscri8calalertstotherightuser,withtherightinforma8on,attheright8meandplace,ontheirdeviceofchoice

PaRentSaRsfacRonCareTeamEfficiency

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Integratedwith120+ClinicalSystems

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TheDeviceofChoiceDifferen8ator

KeyDifferenRators:•  Enterprise-classpla]orm

(vscobblingtogethervendors)

•  ClinicalIntegra8on•  DeviceofChoice(AppleandZebra)•  VoceraBadgeresonateswithnursing•  SuperbReferences•  World-ClassSupport

andProfessionalServices

(1)JointCommission,anindependenthealthcareaccredita8onorganiza8on(2)Agarwalet.al.Univ.ofMaryland,2010 14

MEDCOM

HealthcareRecentPla]ormWinsValidateStrategy

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Scalable,SecureandIntegrated=weconsistentlywin>70%ofcompe88vesales

StatusQuo

•  Pagers•  OverheadPaging•  Shou8ngorWalking

Wire

less

Devices •  Spectralink

•  Cisco•  Ascom

Smartpho

ne

Apps

•  Voalte•  TigerText•  Tex8ngSolu8ons•  MobileApps

ü  Completeend-to-endsolu8on

ü  Role-basedintelligenceü  DeviceofChoiceü  Ease-of-useü  Hands-free

ü  Clinicalintegra8onü  Enterpriseclassü  Trustedproviderü  Purpose-builtdeviceü  Worldclassserviceandsupport

Compe88veLandscape

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10minutespernursepershi_

Bedturnoverratesup50%

ORrevenuesup$780,000

350moreannualORcapacityhours

4,000annualEDhoursrecaptured

OperaRonalEfficiency

Response8mesdownfrom2minutesto9seconds

35%overallSatRa8ngimprovement

25%improvementinHCAHPSscores

Fallrelatedinjuriesdown60%;es8mated$1.27mmsavings

PaRentSafetyandSaRsfacRon

CompellingReturnonInvestment

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• 60%revenuesarerecurring

• Highvisibility• Lowcustomerconcentra8on

%of2015Revenue RevenueStreams

•  Perpetuallicenses•  Subscrip8ons

So_ware*20%recurring15%

•  SoXwaremaintenance•  Technicalsupport

Maintenance*Allrecurring37%

•  Professionalservices•  Deployment&trainingServices9%

39% Devices*50%recurring

•  Badges•  Baneries,chargers,accessories

DiversifiedRevenueStreams

(1)Earningsbeforeinterest,taxes,deprecia8onandamor8za8on,andfurtherexcludesstock-basedcompensa8onandchangeinfairvalueofwarrantandop8onliabili8es.

Revenue Q32016Highlights

AdjustedEBITDA

$26.5 $33.8$75.7 $91.7

Q315 Q316 YTD15 YTD16

($inM

illions)

-$0.4

$2.6

-$3.0

$3.3

Q315 Q316 YTD15 YTD16

($inM

illions)

Q3ResultsexceededexpectaRons•  28%RevenueGrowth•  SoXwareup32%YTD2016•  RecordQ3Backlog,andDeferredRevenue;balancedgrowth

SolidCustomerBaseandValueProposiRon•  95%+s/wmaintenancerenewalrate•  Strongcompe88vewinrate

ExpandingProfitabilityandCashFlow•  A-EBITDA$2.6million•  Posi8veopera8ngcashflow

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+28% +21%

Q3’16&YTDFinancialHighlights

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Actual 2014 2015 Q1-Q3‘16

R&D%ofRevenue 17.2% 15.3% 13%

S&M%ofRevenue 47.4% 41.3% 38%

G&A%ofRevenue 12.8% 11.8% 11%

~$200MTargetModel

12%

29%

8%

Sales

Notes•  Allnumbersarenon-GAAP•  Meanpeergroupenterprisevaluecompsare3-4xRevenueand12-15xA-EBITDA

Drivers

Opera8ngLeverageDrivesSignificantValue

Thankyou!

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BroadcasttoORTurnover

Callon-callOrthopedicSurgeon

Securetexttoon-callCardiologist

UrgentcalltoEDChargeNurse

TheCallSheetTransformed

MEDCOM

Vocera:StandardintheVAandDoD

•  StrongchampionatDoD•  ROIstudyatEvansArmyHospital•  ImprovedPa8entSa8sfac8on•  ImprovedOpera8ngEfficiency

•  $14MbookinginQ3andQ4‘16•  23facili8esdeployedin’17&‘18

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32

Won

Greenfield67DoDfaciliGes

41

112 Won

Greenfield153VAfaciliGes

EHR

EvansArmyCommunityHospital(EACH)92BedMilitaryTreatmentFacility(MTF)–APartofColoradoSpringsMilitaryHealthSystem,ColoradoSprings,ColoradoChallenge:Improvestaff-to-staffandstaff-to-pa8entcommunica8oninphysicallychallengingloca8ons

Pa8entandStaffSa8sfac8on

• Duetodistanceoffacili8es,loca8ons,andphysicallayoutofeachdepartment,thereisacommunica8onbarrierbetweenstaffmembersaswellasbetweenstaffandpa8ents

• Forthelastthreeyears,TheJointCommissionhasiden8fiedcommunica8onasoneofthetop3rootcausesofsen8nelevents

• 20%improvementininpa8entsa8sfac8onover10months:expectedreturnsofover$150,000/quarter

• 88%reduc8oninpa8entfallswithin10months.Hospital-wideimplementa8onyearlypoten8alcostavoidanceofover$94,000

• Keysecuritycer8fica8onsenabledMEDCOMtoestablishVoceraasenterprisestandard

Situa8on Approach Impact•  InJune2012,theVoceraBadge,awearable,voice-controlleddeviceenablinghands-freecommunica8on,wasimplementedintheED.Bytheendof2015,itwasrolledouttomul8pledepartments.

• Thesolu8onwasintegratedwithalarmandalertsystemsandnursecallsystems:•  Pa8ent-to-staff,andstaff-topa8ent•  Painbunon

ImproveQualityofPa8entCareandSafety,andPa8entandStaffSa8sfac8on

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•  TheVocera differenGatedusfromVoalte•  capabili8eswithEPIC,NurseCall–partneringwithConnexall

•  Abilitytoprovide•  organiza8onsolidifiedusasapartnertotrust

•  Compe88vedisplacementof5000Users•  1,250EnterpriseSoXwareLicenseexpansion•  Collabora8onSuitefor1,100MC-40smartphones•  150B3000nVoceraBadges•  Integra8onswithNurseCallandeventuallyEpic•  3hospitals–Parkview,Randallia,andWhitley

•  Futurerollouttoen8rehealthsystem–9hospitals

•  Vocera currentlyinuseatWomen’sandChildren’shospitalresonatedwithnursing,providedinternalsupportforVocera,andsetusapart

•  Excellentcustomer calls•  Comprehensive

ParkviewHealth

•  5,000EnterpriseLicensessuppor8ngall14Hospitalsandover1,000Physicians

•  Collabora8onSuitefor2,300sharedZebraMC40’sandBYOD•  900+sharedhands-freebadgesforED,OR,NICU,etc.•  ClinicalWorkflowEngineintegra8ngwithallNurseCalland

Physiologicsystems,plusAlarmAnaly8csRepor8ngPackage•  Epicbi-direc8onalintegra8onforTreatmentTeam,

EnvironmentalServices,andHaiku/RoverMobileApps•  CareRoundingsolu8onforallin-pa8ent,enterprisewide

®

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•  offerssinglesolu8onvsapatchworkofvendors

•  UniqueRoleandGroupsbasedrou8ngdeliver•  ,regardlessofdeviceorloca8on

•  capabili8esandRoadmapobservedtobe“ayearaheadofthecompe88on”

•  Vocera resonatedwithnursingandsetusapart•  Excellent sitevisitandcalls•  Comprehensive

FranciscanAlliance

•  4,000enterpriselicenses•  Collabora8onSuite&ClinicalWorkflowEngine•  1,900Badges(alreadyexpanded)•  2,500iPhones•  Integra8onswithEpicRover+NurseCall

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•  TheVocera differen8atedusfromVoalteandcompe88on

•  capabili8eswithEPICRover,NurseCall,AlarmManagement

•  Vocera resonatedwithnursingandsetusapart

•  Ourstrategicrela8onshipwith•  Excellentcustomerreferencecalls•  Maintenanceand tofulfillcustomerneeds

UniversityofNorthCarolinaHealthCare

Percentageofcustomerswhohaveusersinthefollowingcategories%

•  Pharmacy•  ClinicalEngineers/

Informa8cs•  Dietary/Nutri8on•  CommandCenter•  Warehouse/

Materials•  Phlebotomists

•  Admi~ng•  ED•  Interpreters•  PathLab•  CaseManagement•  Management/Admin•  Biomed•  Pastors•  Ac8vityDepartment•  Quality/Risk

Management

Others

Spring2015surveyofVoceracustomersconductedby

18%38%

59%61%68%72%78%81%81%

99%

OtherSecurity

ITorTelecomnPhysicians

RehabilitaRonTransportTechsHousekeeping

RespiratoryTherapistsImagingPersonnel

NursingStaff

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ExpandingUserBase

U.S.HospitalsandHealthSystems

28

850U.S.Hospitals 145InternaRonalHospitals 250non-healthcare

Washington,Cleveland,Tampa,Phoenix,AnnArbor

U.S.VAandDoD

EvansArmyHospitalFortCarson

IrwinArmyHospitalFortRiley

LandstuhlArmyMedicalCenterGermany

InternaRonal Non-Healthcare

Large,PassionateCustomerBase

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UnifiedInboxforphonecalls,messages,alerts,alarmsfromclinicalsystems

MasterDirectorywithSynchedCareTeam,Roles,PresenceandAvailabilityIndicators

VoceraCollabora8onSuite

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•  Respiratorytherapyorders•  Laborders•  EKGorders•  Blooddraworders•  Sepsisearlywarnings•  Infec8oncontrolteamalerts•  Potassiumlevelalerts•  AXerhoursimagingrequests•  Socialworkconsults•  Dietaryassessments•  Housekeepingrequests•  Andmore…

RichFunc8onality:EHRNo8fica8ons

VoceraCareTeamSync

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CareTeamSyncinformsandupdatestheMasterDirectory,facilitaRngaccuratecareteamassignments

Dr.Smith,PrimaryCarePhysician

Dr.Evans,Cardiologist

Dr.Jenkins,Hospitalist

StacyJones,Nurse

AdamNorth,Assistant

Dr.Smith,PrimaryCarePhysician

Dr.Evans,Cardiologist

Dr.Jenkins,Hospitalist

StacyJones,Nurse

AdamNorth,Assistant

Bi-Direc8onalSyncwiththeEHR

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NurseCall

FallPrevenRon&BedAlarms

PaRentFlow,RTLS,BedManagement

InteracRvePaRentEngagement

SmartphonesandTablets

ElectronicHealthRecords(EHR)

PhysiologicMonitoringandMedicalDevices

PartnerEcosystem

•  IntelligentsoXwarepla]orm•  Hands-free,lightweight•  Purposebuiltdevice•  Speechrecogni8oninterface•  Mul8-pla]ormsupport•  FIPS140-2,JITC,DoDATO•  FDA510kpla]ormforalarmmanagementandsecuretex8ng

•  Over95%renewalrates

•  1,400healthcarecustomers•  Over500,000users•  275+sales&servicespeople•  Roughly75quotacarryingreps

•  150+Engineers•  34+cliniciansonstaff•  Pa8entexperiencecollabora8ve

•  15yearsofdevelopment•  29U.S.patentsissued–8pending•  Mul8-variableclinicalrulesengine•  Wi-Fi&VoIPexper8se•  Proprietarynoisecancella8on•  Integratedwith120+clinicalsystems

•  Enterpriseclasssolu8on

FirstMoverwUniqueSoluRonwProprietaryIPwStrongBrand

VoceraDifferen8a8on

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TangiblebenefitsidenRfiedwithinthefirstsixmonthsaXerdeployingVocera

12%8%

20%30%

38%41%45%

71%73%

OtherIncreasedCostSavings

IncreasedPaRentSaRsfatcRonIncreasedPaRentThroughput

IncreasedPaRentSafetyReducedNoiseLevel

IncreasedCareTeamSaRsfacRonImprovedResponseTimes

IncreasedWorkflowEfficiencies

Spring2015surveyofVoceracustomersconductedby

WhatCustomersSayaboutVocera

EHR

ClinicalSystems

Loca8on

Scheduling

Messaging

Voice

VoceraCorePladorm

Engage(Workflow)

Acquisi8onEnhancements

OurEnhancedPla]orm

SOLUTION IMPACT

vCustomerExamples

vPROBLEM

•  StudiesshowthatRNsareinterruptedabout128mesperhour,oronceevery5minutes

•  Cri8calalarmsareoXenmissed,resul8nginpa8entharm.

Engagecutsthroughtheclunerandsendsonlyac8onableno8fica8onsrequiring8melyresponse,onthecaregiversmobiledeviceofchoice

•  Improvementsinpa8entsafety•  Reducedneedlessinterrup8ons•  Nursescanspendmore8meatthebedsideandstayfocusedonpa8entneeds

VeteransAdministraRon:55%reduc8onofar8factalarms(falseposi8vealarms).WakeForest:“Priori8za8onofalarmshasbeenanributedto19pa8ent“saves”,wherewepreventedafailuretorescuesitua8on.”

*Kowalcyk,Liz.Pa8entalarmsoXenunheard,unheeded.February13,2011.hnp://www.boston.com/lifestyle/health/ar8cles/2011/02/13/pa8ent_alarms_oXen_unheard_unheeded/

EngageUseCase:InterrupRonFaRgue

v

vPROBLEM

•  NICUstaffreceivealertsthatlackcontext.

•  Nursemusttakeaddi8onalstepstolocatetherelevantcontextualinforma8on,causingdelaysinpa8entresponse

•  Engagesendscontextualeventno8fica8onstocaregiver

•  Relevantdatacaninclude:•  Loca8on•  CallerID•  Levelofurgency•  Gesta8onage•  Statusofamnio8cfluid

•  Earlyinterven8onsandinformed,8melydecisions

•  Quickerresponsetopa8entneedsandimprovedoutcomes

•  Improvedneonatalresuscita8oncompliance

CustomerExampleUniversityofMaryland:TheneonatologistandNICUstaffreceivecontextualalarmno8fica8onstotheirZebraMC40-HCsmobilesmartphones.Thecaregiverusestherelevantdatatomakefasterdecisionsthatimproveoutcomesandcompliance.

SOLUTION IMPACT

EngageUseCase:NeonatalResuscitaRon

v

vPROBLEM

•  Therearebetween700,000and1,000,000pa8entfallsinhospitalseachyear

•  ImplicaRon:Fallsposeaserioushazardtopa8entsafetyaswellsignificantlegalandregulatoryproblemsforthehospital

•  Engagetechnologysendsbedexitalarmsdirectlytonurse’smobiledeviceinstantly

•  Nursecallrequestscanbesentatvaryinglevelsofprioritybasedonapa8ent’sfallriskscore

Reduc8onsinpa8entfallsandtherelatedinjuriesandcosts.40%reduc8oninfallrate

CustomerExamplesNursingleadersusingEngagepresentedacasestudyatNICHE(NursesImprovingCareforHealthsystemElders)showinganROIof$1.06M.Researchfoundadecreaseinpa8entfallsfrom3.27per1,000to1.97per1,000.

SOLUTION IMPACT

EngageUseCase:PaRentFalls

Maintenance Maintenance

Supplies

Expansions

Supplies

Maintenance

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Supplies

Expansions

NewCustomers

Soldintoexis8ngdeployments

Addi8onaldeploymentswithinexis8ngcustomers

Maintenance

QuarterlyBookingsPanernsLeadtoHighVisibility

40Note:Companyes8matesbaseduponillustra8vepurchaseof200enterpriseuserlicenses,200badges,400baneriesandassociatedaccessories,basedon2015data.AlldevicesandsoXwarelicensesassume100%sharedusage,3users/deviceorlicense.SmartphoneonlyassumesthatconsumersprocuretheirownsmartphonesoutsideVocera.Mixedmodelassumes20%MC40smartphoneand80%badgemix.SmartphoneandMixedmodelsincludesaleofEngagesoXwaretohalfofavailablebedsaslabeled.

Revenue-IniRalDeployment $359 $295 $414 $546

GrossMargin-IniRalDeployment $21259%

$19365%

$24259%

$34163%

So_ware

Maintenance

Services

Devices

RevenueStreams ($inthousands)

Ini8alCustomerDeploymentScenarios