AMBARELLA.

COM COPYRIGHT AMBARELLA 2019

December 6th & 9th, 2019

Morgan Stanley
NDR
Frankfurt, Germany and Milan, Italy

Dr. Alberto Broggi, GM Ambarella Italy

Casey Eichler, CFO
Louis Gerhardy, Corporate Development

1
Forward-Looking Statements
This presentation contains forward-looking statements that are subject to many risks and uncertainties. All statements made in this presentation other than statements
of historical facts are forward-looking statements, including, without limitation, statements regarding Ambarella’s strategy, future operations, financial targets, future
revenues, projected costs, prospects, plans and objectives for future operations, future product introductions, future rate of our revenue growth, the size of markets
addressed by the company's solutions and the growth rate of those markets, technology trends, our ability to address market and customer demands and to timely
develop new or enhanced solutions to meet those demands, our ability to achieve design wins, and our ability to retain and expand our customer and partner
relationships.

In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes,"
"estimates," "projects," "predicts," "potential," or the negative of those terms, and similar expressions and comparable terminology intended to identify forward-looking
statements. We have based forward-looking statements largely on our estimates of our financial results and our current expectations and projections about future
events, markets and financial trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business
operations and objectives, and financial needs as of the date of this presentation. Although these forward-looking statements are based upon information available at the
time the statements are made and reflect management’s good faith beliefs, forward-looking statements inherently involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements to differ materially from anticipated future results. Important factors that could cause actual
results to differ materially from expectations are disclosed in Ambarella's annual reports on Form 10-K and quarterly reports and Form 10-Q filed with the Securities and
Exchange Commission (the “SEC”), particularly in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of
Operations.” You should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We do not undertake to
update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by
applicable law. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for management to
predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and
circumstances discussed in this presentation may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-
looking statements.

Before you invest, you should read the annual and quarterly reports and other documents Ambarella has filed with the SEC for more complete information about the
company and its ordinary shares. Additional information will also be set forth in Ambarella's future quarterly and annual reports and other filings made with the SEC from
time to time. You may access these documents for free by visiting EDGAR on the SEC web site at www.sec.gov.

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 2

Ambarella Overview
Ambarella is an artificial intelligence (“AI”) company
 Ambarella developed over a 3 year period an AI processor architecture specifically optimized for video edge-endpoint applications.
The integration of this deep neural network AI processor with the company’s state-of-the-art video processor yields a highly optimized
computer vision (“CV”) system-on-a-chip (“SoC”)
 More than $350 million cumulative investment into CV targeting automotive, security camera and other robotic applications
 The first 3 production CV SoCs were taped-out and sampled in C2018 with all three products in production
 Three “waves” of CV revenue anticipated; professional security cameras, consumer security cameras and automotive cameras

Founded 2004, IPO (NASDAQ: AMBA) 2012

 Focused on video applications, always with the premise that video is a special type of data requiring an optimized chip architecture
 Initially targeted consumer electronics and security cameras for low-power and high-resolution human viewing applications
 More than 270 million cameras enabled to-date

Strong and liquid balance sheet

 $401 million cash and marketable securities and no debt exiting Q3 F2020 (October 31, 2019)
 Positive operating cash flow
 Returned $175 million to shareholders via stock repurchases in the last 3+ years

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 3

 Global Footprint
756 Employees Across US, Asia, and Europe
174 54 178 334 5 5 6
United States Europe China Taiwan Hong Kong Korea Japan

US ODMs
 Jabil VisLab
HQ  Flextronics
Parma, Italy
Santa  acquired 2015 Taiwan ODMs
Clara, CA Founded and incorporated  51 employees  Chicony
in Cayman Islands in 2004  30 PhDs  Sercomm
 Vivotek
 LiteOn
 WNC
China ODMs  Ability
 Skylight
 Gongjin
 Goertek
 Kenxen

Manufacturing Preferred Partner Contract Design Houses

Rhonda
Samsung Semiconductor Teknique

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 4

Ambarella’s Computer Vision System-on-a-Chip
Leveraging 15 Years of Video Processing Expertise with a New and
Proprietary AI Processor

15 years of Programmable Computer Vision Platform

Video and with Optimized Coprocessor Acceleration
Image NEW
Processing CVflow architecture
Experience introduced in F2019
after 3 years in
R&D

Video CVflow Deep

Image
Compression Neural Network AI
Processing
processor

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 5

“Algorithm first” approach

- Approach followed by Ambarella when designing the first encoding chip family
- Followed also for CV chip family:
- 3 ys of sw design, implementation, and on-field testing before selecting hw acceleratorss
- CV1 evaluated over a full life cycle (from design to full implementation on autonomous
cars); CV2 design then based on real feedback
- Careful choice of most used / heavy CV blocks, especially for ADAS/AV:
- includes key technologies for future cars, like Stereo and CNN and their enablers
- CVflow architecture:
- based on specific optimizations to make a very efficient use of space and resources,
leading to limited power consumption and high performance
- At the same time, CVflow is easy thanks to conversion tools to port from usual
environments into CV chips

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 6

 EVA

VisLab: 25+ Years of CV Technology Development Embedded Vehicle

Autonomy

Focused on Autonomous Driving Applications

 Acquired in 2015, spun-out from the University of
Parma (Italy) in 2009
VW Tiguan 2017 4K sensors
BRAiVE 2008-now CV2
 Recognized globally for computer vision software Fully autonomous
expertise applied to autonomous vehicle applications
Porter 2009-now
 Set worldwide milestones for autonomous driving, 4 fully autonomous
CV22
electric vehicles
participating in multiple DARPA challenges
PROUD 13km
in Parma,
 Consistent track record of innovation TerraMax 2004-2007 100% AV
Fully autonomous DEEVA CV
VIAC 15km cross- integration 100%
continent drive AV
100% AV following

DARPA Urban driving

100% AV, driveless
1993-1994
Fully manual DARPA Grand 132 DEEVA 2014
Mille Miglia 2000+km miles off-road 100% Fully Autonomous
on Italian highways AV, driveless with 13 stereo
Prometheus ADAS 94% autonomous
camera systems
demo on closed track steering

2015
2014
1993

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1998

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2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2012

2013

2016

2017

2018

2019
2011
AMBARELLA.COM COPYRIGHT AMBARELLA 2019 7
Computer Vision: the game changers

• Vision has been improving but:

• Needs more performance to handle L2+ and other advanced applications
• GPU based hardware too expensive and too high power

• Game changers:
• New higher resolution 4k (8 Mpxl) and up image sensors
• Power efficient/cost effective deep learning
• Stereo to improve robustness over mono and reduce the number of lidar used today

• Moving from low to high resolution brings additional challenges Ambarella solved:
• Higher performance processing requirement with low power and cost
• Advanced image processing for low light performance
• Higher sensitivity to thermal cycles and vibrations handled by autocalibration

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 8

Ambarella Stereovision Technology

- Working on stereo for 20+ years

- Selection of proper algorithm and on-chip porting as a building block
- Advantages (vs LiDAR):
- Provides much denser 3D distance measurements
- Perfect alignment with image data
- Much lower cost and much easier installation
- Game changers:
- 4K resolution, low power consumption, and low light capability
- Autocalibration provides robust solution and saves time on installation
- Applications:
- developed for automotive, but applicable to many fields where 3D perception is key:
robotics (consumer and pro), automation, logistics, agricultural, earth moving, mining,…

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 9

Ambarella in Automotive: perception from L2 upwards

- The higher the automation level (L1,… L5), the denser and more accurate the required
perception
- High levels also require redundancy (i.e. sensor fusion with multiple sensing technologies)
- Vision (Ambarella’s key offer) is overcoming the major historical bottlenecks:
- Resolution (now 4k, 8Mpxl)
- Low light with high resolution and stereo (now working also at night)
- Power hungry (now 30 fps @ <4W)
- High resolution deep learning die size and power efficiency

- Stereo vision provides an additional sensing technique that fuses with monocular, and adds
redundancy and depth information to monocular

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 10

Scalable Computer Vision Portfolio
AI in the Camera - Superior Performance per Watt + Performance per Dollar

CV25 CV22 CV2

CV25 – Mainstream CV22 – Mid Range CV2 – High End

Announced January 2019 Announced January 2018 Announced March 2018

Availability

Mass production revenue December

Mass production revenue July 2019 Sampling and early trials
2018
Samsung low power 10nm process
Processing Processing

Up to 3x cameras* Up to 2x cameras* Up to 6x cameras* and stereo support

Video
Computer Vision

8 megapixel sensors at 15 frames per second** 8 mega pixel sensors at 30 frames per second**

CVflow Deep Neural Network AI Processor (software tools port from TensorFlow, Caffe, ONNX, etc.)
AI

½ of CV22 AI (CVflow) Baseline (CVflow) 4x CV22 AI (CVflow)

*additional cameras can be supported using external SERDES

**video processing trade-offs available between frames-per-second, resolution, and the number of cameras supported

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 11

 Automotive Camera System Target Markets
~20% fiscal 2019 total revenue
Forward-Facing PT/FT
Ambarella Recorders eMirrors In-Cabin Surround
ADAS Autonomous

2018 SAM ~$300M $1B+ <$10M <$50M <$100M ~$100M

2025 SAM ~$500M $1.5B <$250M ~$500M ~$250M ~$2.5B

Ambarella
$40M-$50M New New New New New
F2019 Revenue

Products A12, A12, CV22, A12,

CV25 CV22, CV2 CV22 S5 CV22 CV22, CV2
(examples) H22 H22 CV2 H22

Applications Human Computer

Viewing Computer Computer Vision Computer Vision Computer
(Human / Computer Human Human Human Computer Vision
Vision L0-L3 ADAS Vision L0-L5 Vision
Vision) Event Viewing Viewing Viewing L2+ to L5 ADAS + AD
L0 ADAS L0-L4 ADAS ADAS and L0-L3 ADAS
Reconciliation
AD

Baolong
OEM Eyesight
BAIC, Geely, Honda, Eyeris
Ofilm
Selected Nissan, SAIC, Toyota Korean T1 Mercedes-
Hella Tier 1 for Benz Longhorn US OEM
Japan T1 Roadefend
Engagements Aftermarket
Momenta BAIC Readsense Ofilm
Finedigital, Garmin, SmartEye
Nextbase, Thinkware (TBA)

Source: TSR, Strategy Analytics, Ambarella

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 12
Ambarella’s Global Automotive Footprint
OEM, Tier 1’s, and Tier 2’s
Computer Vision Human Viewing
(Video Processor + AI Processor “CVflow”) (Video Processor)

OEM

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 13

 Global Security Camera Installed Base Is
Fertile Ground for New CV Product Cycle
Security Camera Market 1,000 CV

~60% fiscal 2019 total revenue (3G)

begins

Installed base (Millions)

750
 ~60% of Ambarella’s F2019 revenue originated from the security
camera market
500
 Two-thirds originated from the professional security camera market Networked (2G)

 Primarily driven by enterprise capital investment

 One-third from the consumer security camera market 250

 Primarily driven by household spending for durable goods Analog (1G)

-
 ~750 million security camera global installed base in C2019 2013 2014 2015 2016 2017 2018 2019e 2020e

 Ambarella has historically served the networked security camera market Analog Networked Computer Vision

 Ambarella is now also addressing the computer vision market at its inception Global Security Camera Unit

Source: Ambarella, IHS, Strategy Analytics, TSR

Shipments
 Global security camera unit shipments around 210 million in C2018
Pro CV
becomes
material
 Computer vision and networked cameras expected to grow while analog shrinks 300

 The transition from human viewing to computer vision represents a

Millions of Units
200
major new product cycle
 We expect to ~5 professional security camera customers in mass production by the end of
F2020. Motorola Solutions is the first mass production customer
100
 We are in-design at 9 of the 10 leading professional security camera companies
 In discussions with all the leading consumer security camera customers. Market development ~1
year behind professional 0
C2018 C2020
AMBARELLA.COM COPYRIGHT AMBARELLA 2019 Analog Networked Computer Vision 14
Ambarella’s Global Security Camera Footprint
Enabling Most Major Professional and Consumer Security Camera Companies

Professional Security Consumer Security

Enterprise ― Retail ―Smart Cities ― ITS ― Smart Parking Home Security ― Smart Home Automation ― Delivery Services

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 15

Competitive Landscape is Fragmented
Ambarella’s video processing expertise scales across multiple markets
Security Cameras Automotive Cameras
Forward-Facing PT/FT
Professional Consumer Recorders eMirror In-Cabin Surround
ADAS Autonomous

HiSilicon (Huawei)
China only Aftermarket

Mobileye (Intel) (SW from Mobileye+SoC

from STM=“black box”) DNN starts with EyeQ5

Movidius (Intel)

(Server based
Nvidia architectures) central AI processing

NXP
No DNN for AI processing

Qualcomm

Renesas

SigmaStar

Texas Instruments
DNN accelerator – samples pending

Xilinx
PLDs utilized early in a product life cycle

(IP Cores)
e.g. Cadence, CEVA, etc. Incomplete solution

AMLogic, Fullhan, Ingenic, Will, Socionext,

(Others) (Custom ASICs),
AIT, Novatek, iCatch (Custom ASICs) (Custom ASICs)

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 16

“Other” Revenue – Mostly “Consumer Discretionary”
~20% fiscal 2019 total revenue

 ~150% of Ambarella’s revenue decline between F2017 and C2016 C2017 C2018
F2019 was driven by “Other”
(F2017) (F2018) (F2019)
non
 “Other” revenue expected to decline in dollars and as a percent of Other ~55% ~40% ~20%
focus
revenue over the next 2-3 years
Security focus
~35% ~45% ~60%
 With some exceptions, computer vision is not critical to “Other” Cameras market
markets
focus
 Some segments such as police body cameras and commercial drones are Auto ~10% ~15% ~20%
expected to adopt CV and remain attractive but relatively small market opportunities market

Total
 Sports/action cameras, consumer drones, and AR/VR markets $310 $295 $228
Revenue
have not come close to achieving market growth expectations and
are relatively small opportunities

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 17

Emerging Opportunities
Includes consumer and enterprise applications
Robots for assistance, cleaning, delivery service, surveillance, warehouse, etc.
 Potential customer examples: Amazon, Alibaba, Baidu, Dyson, LG, iRobot, Segway, Walmart

Machine vision applications include barcode reading, defect inspection and

other manufacturing related applications
 Potential customer examples: Basler, Cognex, Fanuc, Keyence, Omron

Building access control and automation

 Potential customer examples: Assa Abloy, Amazon, Honeywell, Schneider, Siemens

New applications emerging

Images represent potential customers and their applications AMBARELLA.COMCOPYRIGHT AMBARELLA 2019 18
Q3 F2020 (October 2019) Earnings Call Recap
>14 customer and partner engagements announced

>5 Auto 6 Security 3 Other

OEM and aftermarket 2 smart home, 4 professional 1 wearable, 1 drone, 1 AR/VR
>4 CV and 1 video processing 1 CV and 5 video processing 3 video processing

Market Application Customer/Partner Product AMBA Comment

1 Auto ADAS-AM (multiple) Commercial fleets CV2/CV22 multiple customers/wins, FF ADAS, BSD and DMS applications
2 Auto DMS+in cabin Eyeris (demo) Passenger vehicles CV2 @AutoSens award "Best Auto Safety System"+"Most Innovative In-Cabin"
3 Auto Cargo/logistics
Mercedes-Benz Cmcl. delivery vans CV2 multiple cameras in cargo area for logistics (E-commerce)
4 Auto Recorder OEM Chery TIGGO 8 SUV A12A Skyworth is the tier 1 for Chery OEM model
5 Security Professional Hanwha TechwinPNO series CV22 5MP + 4k resolution enterprise class cameras with AI
6 Security Professional Bosch Intelligent I series S3L FLEXIDOME, DINION, Autodome models, w/ video analytics
7 Security Professional Motorola H5SL S5L 1.2, 3 and 5MP versions, variety of video analystics
8 Security Professional Verkada Dome series TBA 8 new indoor and outdoor models, up to 4k resolution
9 Security Smart Home Amazon/Ring Indoor camera S2LM compact plug-in design for monitoring with motion detection
10 Security Smart Home HIKVision EZVIZ Lookout DP1 S3LM replaces peephole in door with touchscreen and 2 way comm
11 Other AR/VR wearableInsta360 Go Camera A12 very small FF wearable(20 grams), stabilization and auto-edit
12 Other Drone DJI Mavic Mini H22 camera is in the payload, does some flight control functions also
13 Other Wearables Motorola Public safety S5LM 4K + full HD recording, >12 hour life, integrate w/ in-car video systems
14 Auto eMirror SONY (demo) Light vehicles CV22 demo under challenging low light and high contrast lighting

*During Q3 F2020 Ambarella generated pre-production CV revenue from more than 50 unique customers ordering engineering parts,
evaluation kits and/or development boards

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 19

Q2 F2020 (July 2019) Earnings Call Recap
17 customer wins announced

8 Auto 9 Security
3 OEM (in 4 models), 4 aftermarket, 1 tier one 4 home monitoring, 5 professional
1 CV and 7 video processing 3 CV and 6 video processing

Market Application Customer Product AMBA Comment

1 Auto DMS AM (TBA) Commercial vehicles CV22 DMS + for commercial vehicles
2 Auto eMirror T1 Hyundai Mobis 3 camera/3 mirror 1 SoC A9AQ Announces S Korea's 1st 3 camera emirror system
3 Auto Recorder AM Thinkware QXD Mega A9AQ 4 camera recorder
4 Auto Recorder AM Thinkware Z500 Plus A12 2 camera dash camera
5 Auto Recorder AM Finedigital GX200/GX2000 A12 4 camera recorder
6 Auto Recorder OEM Geely New Emgrand GS and GL A12 Two new Geely models GS and GL have built in recorders
7 Auto Recorder OEM Great Wall Motors Wey VV6 SUV A12 or H22 Options for these new models, 1 and 3 channel options
8 Auto Recorder OEM Great Wall Motors ORA R2 A12 EV with recorder
9 Security Professional Motorola H5A CV22 Next gen video analytics to be announced
10 Security Professional Hanwha Techwin (TBA) CV TBA Stated they will use CV from Ambarella
11 Security Professional Vaion Vcam CV22 Vcam dome and panoramic
12 Security Professional Hanwha Techwin Q Series S3L Uses S3 for prof sec line for first time
13 Security Professional Verkada CM61 (TBA) 4K with hybrid cloud architecture
14 Security Home monitoring Alarm.com V723 and V523 S5L Intelligent outdooor and indoor cameras
15 Security Home monitoring ADT LifeShield HD doorbell S2L Integrates into their overall security system, suports Alexa, home control
16 Security Home monitoring Samsung SmartThings S2L Full HD video with 2 way audio
17 Security Home monitoring HIKvision EZVIZ DL30VS S3L Smart lock with night vision capabilities

*During Q2 F2020 Ambarella generated pre-production CV revenue from more than 40 unique customers ordering engineering
parts, evaluation kits and/or development boards

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 20

Q3 F2020 (October 2019) Review and Q4 Outlook
(Q3 F2020 reported November 25, 2019)
 Geopolitical factors creating uncertainty and volatility with a wide range of potential outcomes
 On October 15, 2019 we provided an update on the impact to our business from the Entity List published on October 9 th. This brought clarity to some trade
issues, but we continue to see a wide variety of geopolitical risks outstanding, including foreign policy, trade and IP matters
 Factors potentially disruptive to our business include
 potential export regulations on advanced technologies
 potential for customers in China to take actions to reduce their dependence on U.S. components that could be subject to new geopolitical developments
 changes to tariffs and/or the Entity List
 market share shifts between our customers
 supply chain issues
 Our largest competitor in the security camera market, HiSilicon, a unit of Huawei, is facing headwinds

 Q4 F2020 (January, 2020) Outlook

 The midpoint of our Q4 revenue guidance range of $55.0 to $59.0 million was slightly above the sell-side analyst consensus expectation of $55.7 million
 We anticipate normal seasonality in the seasonally slow Q4, with automotive and security expected to be down sequentially and other flat to slightly up
 We estimate Q3 gross margin between 56.5% to 58.5%

 Q3 F2020 (October, 2019) Results

 Revenue of $67.9 million was above the high-end of the guidance range of $63.0 million to $67.0 million with all markets up sequentially, led by automotive
 Non-GAAP EPS of $0.32 and positive operating cash flow of $21.9 million
 No stock was repurchased under an existing authorization of $50.0 million in place through June 2020

AMBARELLA.COM COPYRIGHT AMBARELLA 2019 21

 COPYRIGHT AMBARELLA 2019
www. ambarella.com
lgerhardy@ambarella.com
Louis Gerhardy
Corporate Development and Investor Relations

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