Redline Corporate

Presentation

Spring 2021

Forward Looking Statements – TBC

This disclosure contains “forward-looking information” within the meaning of applicable Canadian securities legislation, including the “safe harbour” provisions of the Securities Act

(Ontario) of the provincial securities laws in Canada and is subject to certain risks and uncertainties which are all outlined in detail in Redline’s regulatory filings, which can be found

on sedar.com.

Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information

with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. It also includes information cited from third party sources. This forward-looking information

is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or

“continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and

phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, that could

cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Although the forward-looking information contained in this

document is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary

materially from the forward-looking information. Certain assumptions made in preparing the forward-looking information and our objectives include: our ability to generate

sufficient revenue while controlling our costs and expenses; our ability to manage our growth effectively; the absence of material adverse changes in our industry or the global

economy; trends in our industry and markets; our ability to manage risks related to expansion; our ability to maintain good business relationships; our ability to develop products and

technologies that keep pace with the continuing changes in technology, evolving industry standards, new product introductions by competitors and changing client preferences and

requirements; our ability to protect our intellectual property rights; the absence of intellectual property infringement or invalidity claims against us; our ability to manage and

integrate acquisitions; our ability to retain key personnel; our ability to raise sufficient debt or equity financing to support our business growth; and the discretion of the Company

with respect to the use of the proceeds of the offering. Consequently, all forward-looking information contained in this document is qualified by the foregoing cautionary

statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected

consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information

contained in this document is provided as of the date of this presentation, and we do not undertake to update or amend such forward-looking information whether as a result of new

information, future events or otherwise, except as may be required by applicable law. There are a number of non-IFRS measures used in this document, including EBITDA (earnings

before interest, taxes, depreciation and amortization). For the purposes of this document, EBITDA is calculated as revenue less cost of sales and operating expenses. The Company

believes that these non-IFRS measures are appropriate measures of the operating performance of the Company or potential acquisitions. The Company’s calculation of these

measures may differ from the methodology used by other issuers and, accordingly, may not be comparable to such other issuers. The Company believes that these measures are

appropriate measures of the Company’s operating performance because they facilitate an understanding of operating performance without giving effect to certain non-cash and

overhead expenses. None of these measures are equivalent to net income or cash flow from operating activities determined in accordance with IFRS. The industry data, technical

information or other information prepared by third parties presented in this presentation, except where otherwise noted, has been compiled from industry sources and participants

which, although not independently verified by the Company, are considered by the Company to be reliable sources of information. References in this presentation to reports or

articles should not be construed as depicting the complete findings of the entire referenced report or article and such report or article is expressly not incorporated by reference

into this presentation. The Company makes no representation or warranty as to the accuracy or completeness of any data or information prepared by third parties included in this

presentation and the Company assumes no liability whatsoever relating to or resulting from such data or information or the use thereof, errors therein or omissions therefrom. All

figures are presented in US dollars unless otherwise indicated.

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Redline Highlights 2

Preferred Supplier to industrial market with a focus on Energy, Mining &

Utilities with 66 Patents

20+ year global reputation for excellent quality, reliability, & performance

$11.5 million backlog. Zero churn.

Market Cap is 60% of cash + backlog; trades at 0.3x TTM revenue

Over 170 industrial customers with deployments in every region globally

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6Industry-leading reliability leads to Lower Total Cost of Ownership Relative to

Competition6

A leading provider of mission-critical data infrastructure for remote & harsh environments –

including some of toughest places on Earth

How Redline Wins 3

Industrial Clients need Ford 150s not Ferraris

Redline Competitors (Nokia, Ericsson, Huawei)

Customers choose Redline because they demand reliability, durability, ruggedness and ease-of-support for mission critical

applications compared to high speed and high capacity offered by carrier-grade competitors

Low maintenance and longer product life

Can perform in extreme environments

Higher reliability and less downtime

Can easily be fixed or replaced by IT staff

Frequent and high maintenance costs -

Designed for controlled environments-

Complexity requires specialized support-

Expensive to support and requires specialized engineering -

Deployed for decades from the Arctic Tundra to the deserts of Oman

Global Footprint: Over 100 Countries & Best-of-Breed Customers 4

Redline has developed a loyal and diverse customer base with long-standing relationships often greater than 10 years. These

relationships provide opportunities for network expansion and addition of 5G/LTE products

North America

Latin America

Europe

Africa

Australia / Oceania

Middle East & Asia

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1 Royal Air Force of Oman.2 US Marine Corps.

Redline Revenue Streams & Pipeline Breakdown 5

43%

2%

55%

0%

Pipeline by Product Category

Mobility

Services

Fixed-Wireless

Core Software

Product Category

Market Segments

13% 3%

6%

25%

27%

6%

12%

8%

Pipeline by End-Market

UtilityTransportationTelecom Service ProviderOil & GasMilitaryMiningGovernmentOther

75%

11%

14%

2020 Revenue Streams

Hardware andSoftware Products

ProfessionalServices and 3rdParty Equipment

Maintenance andSupport

60%

3%

1%

7%

5%

18%

7%

2020 Revenue by End-Market

Oil & Gas

Mining

Utilities

Municipal

Military

Service Provider

Other

Fixed Data to Mobile Data – Massive $15B Opportunity* 6

$4.5B in devices and infrastructure for mining, oil & gas, utilities segments alone [Mobile Experts]

40% CAGR in Industrial Private Networks [Harbor]

Industrial Video Surveillance Market Growing 12.9% CAGR [valuates.com]

Growing Need for security provided by Private Networks and encryption

Opportunities from CBRS Spectrum Opening in USA for NEW Industrial Customers

– over 25% of current pipeline

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Emerging Mission-Critical Industrial Data Requirements

in Remote Areas Require LTE/5G Mobility

*2020 to 2026

US Infrastructure Spend + COVID-19 Snapback increase size of TAM6

Growing Demand For Industrial LTE / 5G Private Networks

Sources: Harbor Research, Deloitte and Global Market Estimates Research & Consultants. 1 Private LTE network infrastructure generated revenue by end market.

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Real-Time

SurveillanceAutonomous Vehicles

Authentication &

Access Control

Worker Safety

Monitoring

Remote Diagnostics

and Predictive

Maintenance

Asset Management &

Uptime Assurance

Reliability Scalability Mobility

Low LatencySecurity

Key Requirements

Applications

Low Total Cost of Ownership

43% of total pipeline is LTE/5G Mobility

50% of LTE/5G Mobility opportunities are client up-sells/cross-sells

In Q4 - booked nearly $1m of Mobility deals – most ever in a quarter

Our Product Roadmap to Support 5G Upgrade Cycle 8

Develop a new generation of Virtual FiberTM products to

support existing & new network expansion

Deliver reliability & performance features for LTE / 5G market

that are comparable to our fixed wireless reputation

Enhancing features and capabilities of active products and

release new products for emerging industrial 5G networks

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Evolve towards converging Virtual FiberTM and iLTETM product

lines for flexibility and cost advantage

Product Roadmap & R&D driven by customer demand

Product Development Focus

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Our Strategic Focus 9

• Product Development: Maintain quality, reliability & performance attributes in next gen

products for existing and new customer network expansion

• Sales & Marketing: Extend industrial market reach. Increase recurring revenue.

• Product Development: Finish LTE/5G R&D upgrade to fulfill demand in pipeline

• Upsell/Cross-sell application layer data mobility for remote fixed wireless deployments.

• Product Development: Connectivity to application layer including IoT and Surveillance

• Accelerate revenue growth by adding sales capabilities and local market partners to support

growing end-market segments.

• Package solutions into Virtual FiberTM & iLTETM solution bundles

• Add warranty & support packages to all future hardware deployments

• Grow higher margin support revenues for LTE/5G network customer support

Expand Fixed Wireless Install Base

Add Mobility to Current Install Base

Expand Market Reach

Increase Recurring Revenue

SIF Accelerates Our LTE/5G Rollout & Future-Proofs Products 10

Scale R&D & Product Development efficiently with low-cost access to capital

• $14M CDN R&D cost sharing repayable on incremental revenues from 2028 – 2043

• Low-cost source of product development financing for 40% of expenditures

• Accelerates Redline’s product development roadmap to provide LTE/5G mobility solutions.

• Accelerates Internet of Things deployments to Mining, Oil & Gas and utilities markets

Mobility Solutions represent 43% of our current pipeline

FINANCIAL SUMMARY 11

Recurring Revenue represents 17% of total revenue

and 25% of Gross Margin contribution

Q1 2021 recurring revenue grew by 11% y/y

2021 pipeline and $11.5m backlog imply that there is a

post-pandemic snap-back as customers move towards

an upgrade cycle.

Price (May 17, 2021)

Shares Outstanding (M)

Market Capitalization (M)

Enterprise Value (M)

Net Cash (M) (Mar 31, 2021)

$0.65

17.2

$11.2

$6.9

$4.3

Institutions

23%

Key Metrics

Stock Chart

CAPITAL MARKETS SUMMARY

COMPARABLE VALUATIONS 13

Vecima Networks Inc. (TSX:VCM)

Airgain, Inc. (NasdaqCM:AIRG)

Baylin Technologies Inc. (TSX:BYL)

Digi International Inc. (NasdaqGS:DGII)

Redline Communications Group Inc. (TSX:RDL)

TEV/Total Revenues LTM - Latest

0.3x

2.8x

1.9x

0.9x

3.3x

Implied EV/Rev Median EV (TSX:RDL) $ 51M

Implied Market Cap $ 57M

Implied Median Share Price $ 3.31

Current TSX-RDL Share Price $ 0.65

WHY INVEST NOW? 14

Trading at 0.3x TTM Revenue & 1.5x cash with $23M of annual sales &

$11.5m of backlog

RDL trades at an 87% discount to the peer median with similar attributes

Major Upsell Opportunity: 50% of mobility pipeline is from existing

customers

Major New Market Opportunity: CBRS opens up government & utilities in

North America –which is now about 25% of our pipeline

SIF reduces nextgen LTE/5G Product Development risk to fulfill nearly

half of pipeline

Thank You for Your Time!

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