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© 2016 Belden Inc. | belden.com | @BeldenInc

June 2016

Belden Broadcast Solutions John Quealy, Equity Research Analyst,

Canaccord Genuity

Roel Vestjens, Broadcast Solutions President,

Belden

© 2016 Belden Inc. | belden.com | @BeldenInc 2

Our commentary and responses to your questions may contain forward-looking

statements, including our outlook for the 2016 second quarter and full year. Forward-

looking statements include projections of sales, earnings, general economic conditions,

market conditions, working capital, market shares, free cash flow, pricing levels, and

effective tax rates. 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 2016 first quarter results, our most recent Annual Report on

Form 10-K as filed with the SEC on February 25, 2016 (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 investor relations website, investor.belden.com.

investor.belden.com

investor.belden.com

investor.belden.com

investor.belden.com

investor.belden.com


Live Q&A Participant Access

US/CAN Toll Free: 888-417-8465

Int’l Toll: 719-457-2627

Conference ID: 7949138


John Quealy

Equity Research Analyst,

Canaccord Genuity

Roel Vestjens

Broadcast Solutions President,

Belden

Featured Speakers


Belden: Leading The Way to an Interconnected World

Delivering highly-engineered signal transmission

solutions for mission-critical applications in a diverse set of global markets

Business Platforms Applications Vertical Markets

Data

Sound

Video

Industrial

Enterprise

Broadcast


Europe 14%

Canada 3%

US 61%

MEA 3%

APAC 15%

Latin America 4%

Broadcast Solutions Overview

*Reflects the transfer of A/V cable to the Enterprise platform as

discussed during our 2016 Q1 earnings call, available at

investor.belden.com

Geographic 2015 Revenue

50%

50%

Key Markets

Leading provider of production, distribution and connectivity

systems for television broadcast, cable satellite and IPTV industries

From Creation…

…To Consumption

Outside Broadcast

Sport Venues

Broadcast Studios

Multi-service operators

Busin

ess

Overv

iew

Fin

ancia

l

Overv

iew

*

$740M

Revenue


Stability

Belden’s investment in

the Broadcast industry

means stability for our

customers

Scale

Innovative end-to-

end solutions to

keep customers

Future-Ready

Support

Global customer

service and support

Understanding our customers needs

Capacity for investment, holistic product solutions and exceptional service provide

the framework for customer loyalty and leading performance


Q&A

Overview

Market trends

How is Belden

supporting

customers?

Changing

consumption

Competitive

pressure on our

customers

Changing business

dynamics

Broadband Connectivity

Broadcast Technology

AIMS for the webcast…

…to help our investment community understand our perspective of both the

opportunities and challenges in the broadcast industry.

Webcast Agenda Why is Broadcast Top-of-Mind?


Digital Media & Workflow

18%

Routers & Interfaces

20%

Cameras 15%

Production Switchers

8%

Monitoring & Control

10%

Editing Systems

6%

Services & Support

23%

Worked with broadcast and media customers

for over 55 years around the world

Pro

duct*

US 41%

Canada 3%

LATAM 3%

Europe 23%

MEA 6%

APAC 24%

Grass Valley has a long history of providing high quality, innovative solutions to

broadcasters and content creators across the world

Technology leadership

* Based on 2015 Revenues

Geogra

phic

*

21 EMMY Awards

Sales, service & engineering centers across

the globe

Custo

mers

Introduction to Grass Valley


Cameras Captures the Action

Replay Stores Video for Slow Motion Replay

Production Switcher Produces the Show

Playout Turns Content into a Show

Signal Processing Keeps Audio/Video in Sync

Multiviewer/Monitoring Shows Camera Angles

...and touches each phase of the broadcast to ensure interoperability and

quality of service

Grass Valley has the largest breadth of products…


Cameras Captures the Action

Replay Stores Video for Slow Motion Replay

Production Switcher Produces the Show

Playout Turns Content into a Show

Signal Processing Keeps Audio/Video in Sync

Multiviewer/Monitoring Shows Camera Angles

...and a strong position in each product category

GV Market Share #2

GV Market Share #2

GV Market Share #2 GV Market Share #2

GV Market Share #1 GV Market Share #1

Grass Valley has the largest breadth of products…


Rapid adoption expected of 4K / UHD

compatible TV sets across the globe 2015 preferred device for consumption2

What is driving the change in consumption?

Increased demand for higher quality, multi-platform broadcasts

1.Cisco VNI Global IP Traffic Forecast, 2015

2 Ericsson ConsumerLab, TV and Media, 2015

38

544

2015 2016 2017 2018 2019 2020

70%

CAGR

600

500

400

300

200

100

0 IP video traffic will be 82% of all traffic by 20201

Co

nn

ecte

d 4

K / U

HD

TV

Sets

(M

illio

n)1

Sm

art

ph

on

e, ta

ble

t,

lap

top

TV

sc

ree

n,

an

d d

es

kto

p


And why is IP the solution?

1. Grass Valley, “The Path to IP: The right approach for your IP migration”

1973 1980 1990 1995 1998 2004 2015 2019

Band

wid

th M

b/s

10

100

1000

10000

100000 IP

SDI Current infrastructure

unable to flexibly support

4K or future formats

Broadcaster’s Challenges… IP bandwidth outpaces SDI1

How does IP help?

Format agnostic facility

(SD, HD, 4K or OTT)

Ability to integrate

video from different facilities

1

Leverage IT Pace of Innovation

Increasing complex

delivery model

Consumer and competitive

pressures to improve

productivity

Multiple streams over one

cable



Current infrastructure



Increasing complex

delivery model

Consumer and

competitive pressures to

improve productivity

Broadcaster’s Challenges… IP allows broadcasters to rethink set-up and

structure.

How does IP help?


(SD, HD, 4K or OTT)





cable



IP infrastructure is more adaptable, future-proof and cost effective

Current infrastructure



Increasingly complex

delivery model

Consumer and competitive

pressure to improve

productivity

Broadcaster’s Challenges… Complexity of the infrastructure and

delivery model….

…is driving the need for automation

How does IP help?


(SD, HD, 4K or OTT)





cable


0%

20%

40%

60%

80%

100%

1985 1990 1995 2000 2005 2010 2015 2020

Enterprise Industrial Broadcast

Where are we today in the IP transition?

1. Nevion & FutureSource Consulting, “Broadcasters set to complete move to IP by 2025”

2.Survey of +10,000 Broadcasters by Devoncroft partners

Partial deployments of IP across

the industry 130

Broadcasters started using IP in

live production1

Most important industry trend2 #2

History of IP adoption

+33%

Today

Innovators Early Adopters Early Majority Late Majority Laggards Willing to take a risk on

a good idea Waits for a few good

anecdotes

Needs solid

anecdotal evidence Waits for at least three

good case studies for

similar companies

Wants solid proof that

something works

Deployment to-date


What is the expected timeframe for IP adoption?

Full adoption expected by 2025

Each phase of the broadcast will transition to IP

Cameras

Replay &

Storage

Production

Switcher

Signal

Processing

Playout

Monitoring

Generic IP Switching

IP Fabric (Files

& Control)

Specialized

IP Switching

Full IP facility

Cameras

Replay &

Storage

Production

Switcher

Signal

Processing

Playout

Monitoring

IP Fabric (Files

& Control)

SDI Routing

(Real Time

Video)

Generic IP Switching

Initial IP facility

Gateway


How is Grass Valley helping the transition?

An independent trade association for members to promote open protocols and

standards to ensure the transition to IP in the broadcast business.

Grass Valley is a founding member of AIMS


How is Grass Valley best positioned for this change?

Grass Valley combines its expertise in complex live production workflows

with Belden’s IP migrations to deliver the ideal path to IP

* Using Grass Valley’s NODE product

How does GV help?

“We spoke with other vendors, but Grass Valley’s product roadmap offered the most

complete IP product solution to meet our needs and provide the production capabilities to

scale in the future.”

Openstandards

Third PartyControl

VerticallyAccurate

/deterministic

Quiet Audio

COTSintegration

Multiplevendor

systems

*

Grass Valley Peer A Peer B

Proprietary Generic Balanced

Expertise &

Innovation

Future Ready

Solutions

Flexibility & Agility


Broadcaster’s Challenges… Capturing lost revenue...

How does Grass Valley help?

…and reducing increased costs


Protect from increased

vulnerability

Eliminate duplicated workflows

VOD available instantly

Broadcasters have to

become more productive

Increased OpEx

supporting VOD

VOD processing time

results in a lost revenue

opportunity

© 2016 Belden Inc. | belden.com | @BeldenInc 21 1. Grass Valley, “The Path to IP: The right approach for your IP migration”

Broadcasters have to

become more productive

Increased OpEx supporting

VOD

VOD processing time

results in a lost revenue

opportunity

Broadcaster’s Challenges…

How does Grass Valley help?


New product helps customers capture revenue opportunities, eliminate

OpEx challenges and secure the studio

Protect from increased

vulnerability

Eliminate duplicated workflows

VOD available instantly

Essential productivity creates network

vulnerability


Intensive R&D

Automated Processes

Glass-to-Glass IP

Innovative Infrastructure

Future Ready

Reduce OpEx

Improve Content Production Quality

Create More Content, Air It Faster

Industry imperatives Grass Valley strengths

Innovative, end-to-end broadcast solutions enables

customers to improve quality, reduce costs and be future-ready

Grass Valley solutions align with industry imperatives


US 81%

APAC 6%

Canada 3%

LATAM 6%

Europe 4%

Drop Connectors / Jumpers

48%

Coaxial Cable 16%

Hardline Connectors

13%

Traps / Filters

8%

Entry Amplifiers

7%

Other 8%

Recognized as the #1 innovator by The

Patent BoardTM 1

Global leading supplier of broadband

connectivity solutions

High-Quality, innovative and reliable products

1) 2014 Industrial Components & Fixtures Industry

5 state-of-the-art global manufacturing

facilities

Pro

duct

Geogra

phic

Introduction to PPC

Revenue growth in every year since

Belden ownership

Custo

mers


Fiber Drop Cable

Fiber Duct

Headend Cable

Headend Connectors

Hardline Connectors

Entry Amplifier

Coax Cable

Drop

Connectors

Universal Closure

Universal Closure

Drop Coax Cable

Fiber Cable

Fiber

Duct

Hardline

Connectors

Entry

Amplifier

Universal

Closure

Coax

Cable Fiber

Cable

Headend

Cable Headend

Connectors

Growing from a connector business to a full-solutions provider

Installer Friendly

Products

OpEx savings

PPC has the largest breadth of products in the industry

Design characteristics

Drop

Connectors


1

Product Breadth (Rank #1 - #3)

Reven

ue C

AG

R

20

13

- 2

01

5

A market leader with best-in-class innovation and growth

2 3

A B

64% revenues from

patent protected

products

22% Vitality in 2015

Best-in-class

innovation

What is PPC’s position in the market?

Largest breadth of products Continued innovation


58% 61%

64%

70%

2012 2013 2014 2015

End-User Demand for High Quality Content on Any Device

Increase in video crossing the

internet each month from 20141 14% Cord-cutters generate 2x the

amount of internet traffic1

81.36

84.35

87.34

90.46

2012 2013 2014 2015

1. Cisco, VNI June 2016

2. Sandvine Global Internet Phenomena Reports

22 Mbps

26 Mbps

2014 2015

What has been driving the demand for bandwidth?

Average U.S fixed

broadband speeds1

Number of U.S broadband

subscriptions (millions)1

Percentage of Bandwidth

Consumed by Video2


Continued consumption changes will drive increases in bandwidth

requirements

70% CAGR for 4K / UHD

TV sets globally for 2015 –

20201 4K

Global OTT market value

expected to be $62B, a

17.2% CAGR 2015-20202

US video traffic will be 82%

of all internet traffic by

20201

1. Cisco, VNI June 2016

2. MarketsandMarkets, Press Release 2016

Consumption changes…

What are expectations for demand?

-

10

20

30

40

50

60

70

80

2015 2016 2017 2018 2019 2020

4K / UHD Traffic Other Video Traffic Other IP Traffic

Exabyte

s p

er

month

…will drive increased U.S. bandwidth

requirements1


“Comcast to introduce

world’s first DOCSIS 3.1

powered gigabit internet

service2”

Customer demand and increased competition will drive new installations

U.S average fixed broadband speeds4

26 Mbps

…and driving investment

1.SNL Kagan

2..Comcast Press Release, Feb 2 2016

3. Fierce Telecom, May 9 2016

4. Cisco VNI Global IP Traffic Forecast, 2015

2x faster

And how are multi-service operators reacting?

Revenue opportunity…

2014 2015

8.5%

$50.98

$55.31

U.S. average MSO revenue

per high speed data user1

…is increasing competition…

“Google’s fiber begins 1

Gbps service rollout in

Huntsville, Alabama3”

26 Mbps

52 Mbps

2015 2016 2017 2018 2019 2020


M2FX complements PPC solutions to support MSOs efficiently manage increased bandwidth consumption

How does M2FX help? Lower

Equipment Requirements

Easy-to-Install

Quick Installation

System Solution for Customers

Skills Gap & High

Labor Costs for

Installation

Contractor CapEx

Customer

Consolidation 2015 2016 2017 2018 2019 2020 2021 2022 2023

5

10

15

20

25

30

35

40

45

50

Su

bscri

be

rs (

mill

ion

)

62.3% CAGR 43

33

24

16

10

6 4

2 1

U.S. FTTH Subscribers Challenges

How is PPC best positioned for this demand?


Financial and brand

implications with

broadband failure

Complications launching

new technologies and

services

Undiminished quality of service

Enables higher performance of new

technologies

Signal interference

impacting data speeds

New industry standard for

performance

Patented Product Solutions Customer Challenges

New technology reduces OpEx and increases the performance of

customers’ networks

How is PPC best positioned for this demand?


Q&A

Overview

Market Trends

How is Belden

supporting

customers?

Changing

Consumption

Competitive

Pressure on our

Customers

Changing

Business

Dynamics

Broadband Connectivity

Broadcast Technology

AIMS for the Webcast…

…to help our investment community understand our perspective of the

opportunities and challenges in the Broadcast industry

Webcast Agenda Why is Broadcast Top-of-Mind?

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