Zebra Technologies Investor Presentation — November 2020

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ZEBRA TECHNOLOGIESZebra Technologies

Third Quarter 2020 Results

November 3, 2020ZEBRA TECHNOLOGIESSafe Harbor Statement

Statements made inthis presentation which are notstatements ofhistorical fact are forward -looking

statements andaresubject tothesafe harbor provisions created bythePrivate Securities Litigation Reform

Actof1995 .Actual results may differ from those expressed orimplied inthecompany’s forward -looking

statements .Zebra may elect toupdate forward -looking statements butexpressly disclaims anyobligation to

doso,even ifthecompany’s estimates change .These forward -looking statements arebased oncurrent

expectations, forecasts and assumptions and aresubject totherisks and uncertainties inherent inZebra’s

industry, market conditions, general domestic andinternational economic conditions, andother factors .These

factors include customer acceptance ofZebra’s hardware and software products and competitors’ product

offerings, and thepotential effects oftechnological changes .The continued uncertainty over future global

economic conditions, theavailability ofcredit, capital markets volatility, may have adverse effects onZebra, its

suppliers anditscustomers .Inaddition, adisruption inourability toobtain products from vendors asaresult

ofsupply chain constraints, natural disasters, public health issues (including pandemics), orother

circumstances could restrict sales andnegatively affect customer relationships .Profits andprofitability willbe

affected byZebra’s ability tocontrol manufacturing andoperating costs .Because ofitsdebt, interest rates and

financial market conditions willalso have animpact onresults .Foreign exchange rates willhave aneffect on

financial results because ofthelarge percentage ofourinternational sales .Theoutcome oflitigation inwhich

Zebra may beinvolved isanother factor .Thesuccess ofintegrating acquisitions could also affect profitability,

reported results andthecompany’s competitive position initsindustry .These andother factors could have an

adverse effect onZebra’s sales, gross profit margins and results ofoperations .Descriptions oftherisks,

uncertainties andother factors thatcould affect thecompany’s future operations andresults canbefound in

Zebra’s filings withtheSecurities andExchange Commission .Inparticular, please refer toZebra’s latest filing

ofitsForm 10-Kand Form 10-Q.This presentation includes certain non-GAAP financial measures and we

refer tothereconciliations tothecomparable GAAP financial measures andrelated information .

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