Limelight NetworksInvestor OverviewApril 2016

Certain statements in this presentation relate to future results that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. This presentation contains statements involving risks and uncertainties, including statements relating to Limelight Networks’ market opportunity and future business prospects. Actual results may differ materially and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ are included in the Limelight Networks’ Annual Report on Form 10K and our periodic reports on Form 10Q.

Safe Harbor Statement

About Limelight

Our Mission and Vision: To securely manage and globally deliver

digital content, building customer satisfaction through exceptional reliability

and performance.

3

LimelightAt A Glance

Founded2001

IPO (LLNW)2007

Customers925+

of Revenue is International42%

Worldwide Locations20+

Headcount Globally500+

4

15 TBPSOne of the largest CDNs in

the world

>800Directly connected unique

networks

>98%Industry leading cache hit

efficiency

4 of 5TOP MEDIA COMPANIES

5 of 8TOP TECHNOLOGY COMPANIES

3 of 5TOP GAMING COMPANIES

SSLOne of the largest SSL

CDNs in the world

PURGEGlobal purge in seconds

Limelight Today

Limelight Responds to Market Need

Increasing Market Demands

Superior Quality At Global Scale

Instant Access

Everywhere

On All Devices

Securely

Every Time

“A great digital experience is no longer a nice-to-have; it’s a make-or-break point for your business.”

–Forrester *SOURCE: FORBES

7

http://www.forbes.com/pictures/ehjh45lihf/2-digital-experience-delivery-makes-or-breaks-firms/

Increasing prominence of emerging markets

Explosive growth in networked devices

Growing percentage of overall traffic

Increase in attack frequency and size

Built For Where The Internet Is Going

GlobalizationMobilityVideo Security

8

The Limelight DifferenceThe world’s largest private CDN. Backed by industry experts.Delivers digital experiences quickly, reliably, and securely every time.

Global private network with industry leading cache-hit ratio

Digital delivery of content to any device, anywhere

Powerful architecture with specific solutions for industries

Automated workflows and policy intelligence

Designed for 100% availability and 5 9s durability

Leading ingest/egress capacity; 80+ locations and 19 countries

Personalized, complex sites/apps on any device, anywhere

Industry leading delivery speed and availability

Lower page load times = more $

Robust offering protects content investment at scale

Proactive DDoS monitoring and attack mitigation

SSL delivery, content protection, access controls

Simple, customizable online publishing workflow

Multi-Device Media Delivery (Live/OD)

Integrated high performance delivery

Platform Value Proposition

Orchestrate Delivery

Orchestrate Storage

Orchestrate Performance

Orchestrate Security

Orchestrate Video

10

Limelight Strategy and Focus Areas

Attract talent Reduce turnover Increase productivity

EMPLOYER OF CHOICE

Achieve double digit growth Increase gross margin Drive new business Generate cash

Increase NPS Reduce churn Grow existing business

Corporate Goals and Priorities

CUSTOMERS FOR LIFE

REVENUE / PROFIT GROWTH

Improve reliability, performance and capacity1

Strengthen the customer relationship3

Deliver differentiated solutions within target use cases2

12

Improving Network PerformanceThreaded EP Production Test – Lower Latency and Faster

63% increase in throughput

Before After

High and variable latencyLow and consistent

latency

13

Improving Capacity / Efficiency with SavingsSelected Colocation-related Projects

Project by Location Racks Servers

Chicago shutdown (one of several locations) -100% -63% $345k No change

Washingto DC consolidation -48% -30% $360k No change

Amsterdam consolidation -47% -62% $840k No change

Frankfurt consolidation -100% -50% $460k > 40% increase

Tokyo consolidation -48% -49% $1,600k > 50% increase

London consolidation (one of several locations) -78% -65% $580k > 200% increase

New York consolidation -64% -51% $460k No change

Los Angeles consolidation -47% -35% $290k No change

Dallas consolidation -50% -54% $325k No change

San Jose consolidation -40% -39% $345k > 30% increase

% ReductionCapacity Impact

Annual Savings

(Approx)

14

Improving Customer Relationship and Differentiated Solutions

Fall 2014

Spring 2014

Fall 2013

Spring 2013

Spring 2015

15.1 points

10.6 points

11.9 points

14.6 points+64 points

12.1 pointsFall 2015

Net Promoter Score Progress

15

Financials

Financial Highlights

Robust recurring revenue model with improving customer churn characteristics

Return to demonstrable top-line growth

Significant margin opportunity

Disciplined capital investment strategy

Moving from cash utilization to cash generation

Capped litigation exposure

17

Core Revenue Trend

$36.00 $35.70 $37.50 $40.73 $42.30

$43.80 $42.05 $42.74 $41.42

$0.30 $0.30

$4.90 $5.40 $1.20

$0

$5

$10

$15

$20

$25

$30

$35

$40

$45

$50

1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

Clickability Netflix$ millions

18

Gross Profit and Margin

$15.27 $15.87 $16.14 $16.13

$16.52

$18.15

$15.91

$17.54 $16.64

37.1% 38.4%41.4%

39.6% 39.0%41.4%

37.8%41.0% 40.2%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

Gross Profit Gross Margin

$ millions

19

Operating Income Trends

-$7.66

-$6.98-$6.22

-$5.86

-$7.51

-$6.22

-$8.24

-$3.75

-$6.02

-$9

-$8

-$7

-$6

-$5

-$4

-$3

-$2

-$1

$01Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

$ millions

20

EBITDA / Adjusted EBITDA Profile$ millions

-$2.26-$1.86

-$1.19 -$1.21

-$2.72

-$1.21

-$2.96

$2.06

-$0.72

$0.60

$1.32 $1.41 $1.48

$0.37 $0.90

$0.31

$5.33

$3.95

-$4

-$3

-$2

-$1

$0

$1

$2

$3

$4

$5

$6

1Q 14 2Q 14 3Q 14 4Q 14 1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

EBITDA Adjusted EBITDA

21

1Q2016 Highlights Revenue of $41.4 million, down 2%

year over year

Excluding FX fluctuations, down 1% year over year

Gross Margin of 40.2%, up 120 basis points year over year

Operating Expenses down 6% year over year, despite $1.2 million of litigation expense

Non GAAP EPS of $(0.01)

Adjusted EBITDA of $4 million, up from $0.4 million in 1Q2015

Generated $1.1 million of cash in 1Q2016 (ex debt financing)

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

$5.00

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

Trading Volume LLNW Price

22

2016 Guidance

$150.99

$170.91

$11.27

$0

$50

$100

$150

$200

$250

2014A 2015A 2016E

GuidanceNetflixNon-Netflix

Revenue ($ millions)

$180 - $188

$162.26

39.1% 39.9%

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

2014A 2015A 2016E

Guidance

+41.9%

GAAP Gross Margin

Additional guidance: • Non-GAAP EPS between $(0.05) and $0.05• Less than $20M Capex (cash paid and financed) vs $26.7M in 2015• Generate cash 23

Long-term Financial Model

10-15% annual revenue growth

16-20% adjusted EBITDA as % of revenue

10-14% Capex as % of revenue

Cash flow positive

Increase existing customer revenue growth

Lower new customer acquisition costs

Improve server efficiency and infrastructure utilization

Consistent G&A and R&D dollar spend as revenue grows

Drivers Long-Term Targets

24

Investment Thesis: Attractive Market

Returning to top line growth

Improving earnings and generating cash

Aligning cost structure to revenue streams

Multiple expansion

Increased strategic flexibility

Higher shareholder valueImpact

Growth Drivers

25

Appendix: Non-GAAP Financial Measures

Non-GAAP Net Loss

Three Months Ended

Mar 31, 2016 Dec 31, 2015 Mar 31, 2015

Amount Per Share Amount Per Share Amount Per Share

U.S. GAAP net loss $(5.946) $(0.06) $(4,145) $(0.04) $ (5,683) $(0.06)

Share-basedcompensation 3,496 0.03 2,863 0.03 3,069 0.03

Litigation expenses 1,178 0.01 402 0.00 19 0.00

Amortization of intangible assets 6 0.00 461 0.00 197 0.00

Non-GAAP net loss $ (1,266) $(0.01) $ (419) $0.00 $ (2,398) $(0.02)

Weighted average shares used in per share calculation

102,693 101,391 98,636

27

in thousands

EBITDA and Adjusted EBITDA

Three Months Ended

Mar 31, 2016 Dec 31, 2015 Mar 31, 2015

U.S. GAAP net loss $ (5,946) $ (4,145) $ (5,683)

Depreciation and amortization 5,291 5,816 4,793

Interest expense 179 25 4

Interest and other (income) expense (406) (321) (1,886)

Income tax provision 158 46 55

EBITDA (724) 2,063 (2,717)

Share-based compensation 3,496 2,863 3,069

Litigation expenses 1,178 402 19

Adjusted EBITDA $ 3,950 $ 5,328 $ 371

28

$ thousands

THANK YOU

© 2016 Limelight Networks, Inc. All rights reserved. No part of this document may be reproduced, or transmitted by any means (electronic, mechanical, photocopying, recording, or otherwise) without the express written permission of Limelight Networks, Inc. Limelight Orchestrate™ is a trademark owned by Limelight Networks, Inc. All rights reserved. All other trademarks referred to herein are the property of their respective owners.

Disclaimer

Limelight Networks�Investor OverviewSlide Number 2Slide Number 3Slide Number 4Slide Number 5Slide Number 6Increasing Market DemandsBuilt For Where The Internet Is GoingSlide Number 9Platform Value Proposition Slide Number 11Slide Number 12Improving Network PerformanceImproving Capacity / Efficiency with SavingsImproving Customer Relationship and Differentiated Solutions Slide Number 16Financial HighlightsCore Revenue TrendGross Profit and MarginOperating Income TrendsEBITDA / Adjusted EBITDA Profile1Q2016 Highlights2016 GuidanceLong-term Financial ModelInvestment Thesis: Attractive MarketSlide Number 26Non-GAAP Net LossEBITDA and Adjusted EBITDASlide Number 29Slide Number 30