Zebra Technologies Investor Presentation — June 2017

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GROWTH STOCK CONFERENCE

Statements made in this presentation which are not statements of historical fact are forward -looking statements and are

subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results may

differ from those expressed or implied in the company’s forward -looking statements. Zebra may elect to update forward -

looking statements but expressly disclaims any obligation to do so, even if the company’s estimates change. These

forward -looking statements are based on current expectations, forecasts and assumptions and are subject to the risks and

uncertainties inherent in Zebra’s industry, market conditions, general domestic and international economic conditions, and

other factors. These factors include customer acceptance of Zebra’s hardware and software products and competitors’

product offerings, and the potential effects of technological changes. The continued uncertainty over future global economic

conditions, the availability of credit, and capital markets volatility may have adverse effects on Zebra, its suppliers and i ts

customers. In addition, a disruption in our ability to obtain products from vendors as a result of supply chain constraints,

natural disasters or other circumstances could restrict sales and negatively affect customer relationships. Profits and

profitability will be affected by Zebra’s ability to control manufacturing and operating costs. Because of Zebra’s debt, inte rest

rates and financial market conditions will also have an impact on results. Foreign exchange rates will have an effect on

financial results because of the large percentage of our international sales. The outcome of litigation in which Zebra may be

involved is another factor. The success of integrating acquisitions could also affect profitability, reported results and the

company’s competitive position in it industry. These and other factors could have an adverse effect on Zebra’s sales, gross

profit margins and results of operations. Descriptions of the risks, uncertainties and other factors that could affect the

company’s future operations and results can be found in Zebra’s filings with the Securities and Exchange Commission. In

particular, please refer to Zebra’s latest filing of its Forms 10 -K and 10 -Q. This presentation includes certain non -GAAP

financial measures and we refer to the reconciliations to the comparable GAAP financial measures and related information.

2Safe Harbor Statement3Zebra: Compelling Investment Opportunity

Capitalizing on secular trends and technology transitions in growing markets