Investor Presentation May 2021 SAFE HARBOR 2 This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware's plans, outlook, beliefs or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as "believes," "expects," "anticipates," "intends," "estimates," "plans," and similar ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 ...

Radware Ltd. (NASDAQ:RDWR) Q4 2020 Earnings Conference Call February 10, 2021 8:30 AM ET Company Participants Anat Earon-Heilborn - VP, IR Roy Zisapel - President and CEO Doron Abramovitch - CFO Conference Call Participants George Notter - Jefferies Peter Zdebski - Barclays Capital Alex Henderson - Needham & Company Andrew King - Colliers Securities Joshua Tilton - Berenberg Capital Markets Yi Fu Lee - Oppenheimer Operator Ladies and gentlemen, thank you for standing by, and welcome to the Radware Quarter F ...

Financial Data and Key Metrics Changes - Revenue for Q3 2020 was $62.5 million, which is 1% below Q3 2019 and in line with guidance [21] - ARR reached $169 million, with a growth rate of 12%, up from 10% in Q2 [7][23] - Gross margin for Q3 was 82.2%, reflecting product mix and a higher proportion of subscriptions [25] - Net income for Q3 was $8.4 million or $0.18 per diluted share, at the high end of guidance [26] - Total deferred revenues balance was approximately $172 million, with 63% expected to be recognized in the next 12 months [24] Business Line Data and Key Metrics Changes - Cloud and product subscription revenues grew approximately 30% year-over-year, driving ARR growth [8][23] - Recurring revenues comprised 63% of total revenues in Q3, up from 64% in the first nine months of 2019 [22][24] Market Data and Key Metrics Changes - Revenues from the Americas increased 24% year-over-year to $30.2 million, while EMEA revenues decreased 5% to $18.3 million, and Asia Pacific revenues decreased 27% to $14 million [21][22] Company Strategy and Development Direction - The company is focusing on expanding its cloud security offerings and investing in infrastructure to meet increased demand [12][17] - New scrubbing centers were added in India, Brazil, and Israel to enhance geographic coverage and capacity [12] - The company aims to broaden its offerings to deliver a full-stack application security solution [13] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with performance despite ongoing macroeconomic uncertainty and lockdowns [20] - The company anticipates continued growth in the Americas and expects improvements in international markets [35][49] - The digital transformation and increased cyber activity present significant opportunities for the company's solutions [17] Other Important Information - The company plans to stop discussing total deferred revenue starting next quarter and will focus on providing ARR information [24] - The company is actively looking for M&A opportunities in the enterprise security and cloud security spaces [66] Q&A Session Summary Question: Growth rates across the Americas business - Management noted satisfaction with North America's performance and plans to continue investing in the region due to high potential [33] Question: U.S. business split and Cisco's impact - Growth in the U.S. is attributed to both Cisco's ramp-up and organic wins, with plans to invest more resources [38] Question: EMEA and APAC performance - Management indicated that the situation in EMEA and APAC is complex but expects improvements in Q4 [48] Question: Investments in scrubbing centers and Airtel partnership - The partnership with Airtel is seen as a significant contributor to performance in emerging markets [54] Question: Opportunities with Bot Manager - The company sees growth potential in bot management solutions, particularly in addressing account takeover and page scraping [60] Question: Cash position and M&A outlook - The company is actively looking for M&A opportunities and has increased share buybacks [66] Question: Recurring revenue percentage - Recurring revenues were 62% of total revenue in Q3, with a slight decrease from the previous year [69][72]

Investor Presentation November 2020 1 SAFE HARBOR DISCLAIMER This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical facts, including statements with respect to plans, projections, outlook, beliefs, opinions, or future performance of Radware and its subsidiaries, are forward-looking statements. Because such statements deal with future events, they are subject to various ...

Radware Ltd. (NASDAQ:RDWR) Q2 2020 Earnings Conference Call July 29, 2020 8:30 AM ET Company Participants Anat Earon-Heilborn - Vice President, Investor Relations Roy Zisapel - Chief Executive Officer and President Doron Abramovitch - Chief Financial Officer Conference Call Participants Alex Henderson - Needham & Company Shaul Eyal - Oppenheimer & Co. George Notter - Jefferies Group LLC Andrew King - Colliers International Yi Fu Lee - Oppenheimer & Co. Inc. Operator Good morning and welcome to the Radware Q ...

Radware Ltd. (NASDAQ:RDWR) Q1 2020 Earnings Conference Call May 6, 2020 8:30 AM ET Company Participants Anat Earon-Heilborn - Vice President, Investor Relations Roy Zisapel - President and Chief Executive Officer Doron Abramovitch - Chief Financial Officer Conference Call Participants George Notter - Jefferies Shaul Eyal - Oppenheimer Alex Henderson - Needham Yi Fu Lee - Oppenheimer Andrew King - Dougherty & Company Tavy Rosner - Barclays Operator Ladies and gentlemen, thank you for standing by, and welcome ...

Radware Ltd. (NASDAQ:RDWR) Q4 2019 Earnings Conference Call February 12, 2020 8:30 AM ET Company Participants Anat Earon-Heilborn - VP, IR Roy Zisapel - President and CEO Doron Abramovitch - CFO Conference Call Participants George Notter - Jefferies Alex Henderson - Needham & Company Andrew King - Dougherty & Company Tavy Rosner - Barclays Capital Operator Ladies and gentlemen, thank you for standing by, and welcome to the Radware Q4 2019 Earnings Conference Call. At this time, all participants are in a lis ...

Radware Ltd. (NASDAQ:RDWR) Q3 2019 Earnings Conference Call November 6, 2019 8:30 AM ET Company Participants Anat Earon-Heilborn - Vice President, Investor Relations Roy Zisapel - President & Chief Executive Officer Doron Abramovitch - Chief Financial Officer Conference Call Participants George Notter - Jefferies Alex Henderson - Needham Vinod Srinivasaraghavan - Oppenheimer Tavy Rosner - Barclays Andrew King - Dougherty & Company Operator Ladies and gentlemen, thank you for standing by. And welcome to the ...

Financial Data and Key Metrics Changes - Revenues for Q2 2019 were $60.5 million, up 6% year-over-year, while revenues for the first half of 2019 were $122 million, growing 9% over the first half of 2018 [8][12] - Gross margin for Q2 2019 grew to 83.2% from 82.4% in Q2 last year, benefiting from a higher proportion of subscription revenues [11] - Q2 net income was $8.9 million or $0.18 per share diluted, up from $5.0 million and $0.10 per share diluted in Q2 last year [13] Business Line Data and Key Metrics Changes - Revenues from the Americas represented 46% of total Q2 2019 revenues and increased 16% from Q2 2018 [8] - Revenues from EMEA decreased 15% from Q2 last year and represented 28% of total revenues [8] - Revenues from Asia-Pacific grew 17% from Q2 last year and represented 26% of the total [8] Market Data and Key Metrics Changes - For the last 12 months, Americas revenue increased 3%, EMEA revenues increased 19%, and Asia-Pacific revenues increased 10% [10] Company Strategy and Development Direction - The company is focused on expanding its subscription and cloud services, aiming for subscriptions to exceed 30% of total bookings by 2020 [19] - The company is enhancing its product offerings, including DDoS protection, web security, and encrypted traffic security, to provide integrated solutions for data center security [18][24] - The company is investing in broadening its competitive advantage, particularly in cloud and security capabilities [21][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting full-year targets, citing robust business activity and strategic initiatives [18] - The company remains cautious about the European market, particularly in Germany and the U.K., despite some improvement in bookings [31] - Management highlighted the importance of partnerships, particularly with Cisco, in driving future growth [30][41] Other Important Information - The company ended the quarter with approximately $414 million in cash and financial investments, and spent $10 million on share repurchases [15] - Deferred revenue balance was approximately $172 million, up 12% from June 2018, with expectations to recognize approximately $105 million as revenue within the next 12 months [14] Q&A Session Summary Question: Revenue guidance for Q3 - The company expects revenues to be between $62 million and $64 million for Q3 [27] Question: Details on Cisco partnership - Cisco is enhancing the product portfolio from Radware, leading to increased activity and bookings, with expectations for continued growth [30][41] Question: EMEA bookings outlook - While bookings improved, management remains cautious about the overall outlook for Europe [31] Question: Metrics on traditional vs. security and SaaS business - The company sees strong growth in cloud and product subscriptions, aiming for subscriptions to be 30% of total bookings [33] Question: Enterprise business performance - The enterprise segment showed flat year-over-year growth, attributed to the transition to subscription models and regional weaknesses [35] Question: Third-party reseller arrangements - The company has over 100 traditional channel partners and is focusing on strategic partnerships with OEMs like Cisco and Checkpoint [37] Question: Deferred revenue trends - Management advised looking at the total deferred revenue balance and its recognition as revenue within the next 12 months [48] Question: Acquisition pipeline - The company is actively looking for acquisition opportunities but has no specific targets to announce at this time [50]