1Contains proprietary and confidential information owned by Synacor, Inc. © / 2017 Synacor, Inc.

DRIVING GROWTH IN ATTRACTIVE DIGITAL MARKETS

N O V E M B E R 2 0 1 7

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SAFE HARBOR

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements concerning

Synacor’s expected financial performance as well as Synacor’s strategic and operational plans. The achievement or success of the matters covered by such

forward-looking statements involves risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove

incorrect, the company's results could differ materially from the results expressed or implied by the forward-looking statements the company makes.

Synacor is under no obligation to, and expressly disclaims any such obligation to, update or alter forward-looking statements, whether as a result of new

information, future events, or otherwise.

The risks and uncertainties referred to above include - but are not limited to - risks associated with: execution of Synacor’s plans and strategies; the loss of a

significant customer; the company’s ability to obtain new customers; expectations regarding consumer taste and user adoption of applications and

solutions; developments in Internet browser software and search advertising technologies; developments in display advertising technologies and practices;

general economic conditions; expectations regarding the company's ability to timely expand the breadth of services and products or introduction of new

services and products; consolidation within the cable and telecommunications industries; changes in the competitive dynamics in the market for online

search and display advertising; the risk that security measures could be breached and unauthorized access to subscriber data could be obtained; potential

third party intellectual property infringement claims; and the price volatility of Synacor’s common stock.

Further information on these and other factors that could affect the company's financial results is included in filings it makes with the Securities and

Exchange Commission from time to time, including the section entitled "Risk Factors" in the company's most recent Form 10-K filed with the SEC. These

documents are available on the SEC Filings section of the Investor Information section of the company's website at investor.synacor.com.

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INVESTMENT HIGHLIGHTS

A Transformation Story with Multiple Profitable Growth Avenues

STRONG OPPORTUNITIES FOR

GROWTH

RECURRING AND FEE-BASED REVENUE

MASSIVE TRANSFORMATION

ON A PATH:

• 3 YEARS (2019)

• $30M EBITDA

• $300M REVENUE

SEASONED MANAGEMENT

TEAM

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PORTALS EMAIL ANDCOLLABORATION

MULTIPLATFORM VIDEO

CLOUD ID

ENGAGING CONSUMERS

ADVERTISING

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OUR MISSION

We enable our customers to better engage

with their consumers

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TWO PRIMARY SOURCES OF REVENUE

SEARCH AND ADVERTISING RECURRING AND FEE-BASED

Advanced Portal

Experiences

Email/Collaboration Video Platform/Cloud IDAdvertising Solutions

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MULTI-PLATFORM PORTAL EXPERIENCES DESIGNED FOR ENGAGEMENT AND MONETIZATION

Personalized, curated, and relevant content experience that drives engagement and reinforces ISP brand across devices

• Modern design, stream-based experience

• Hundreds of thousands of articles and videos

• Push notification for breaking news

• Flexible and customizable for customer needs

• Monetization through integration with Synacor Media

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Complete advertising platform:

• Strong Monetization• Search, display, video and mobile• Direct, programmatic, network

• Publisher and Portal Network• Operated and managed portals• Publisher platform

• Targeting Expertise• Proprietary and third-party data• Ad Ops and Analytics

Hundredsof Publishers

SYNACOR MEDIA: COMPELLING AD PLATFORM AT SCALE

200MUniques

35M+Broadband Households

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SEARCH & ADVERTISING GROWTH OPPORTUNITY

• Launch AT&T

• Win new portal customers

• Programmatic growth

• Grow publisher reach and products

• Expand mobile monetization

Digital Ad Spending

12%

$72BTotal Market

Source: eMarketer, growth for 2016 – 2020Total Market for 2016

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EMAIL & COLLABORATIONOPEN, SECURE, PRIVATE PRODUCT SUITE

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• Powering ~500M mailboxes –

one of the largest providers

of white label email in the world

• Open source, on-prem software, and as a

fully managed & hosted solution

• Unmatched migration

& hosting capability

• Serving service providers,

government agencies, and

business enterprises globally

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EMAIL & COLLABORATION GROWTH OPPORTUNITY

• Open source program to monetize ~400 million existing mailboxes

• Open Source Support subscription

• Suite Plus (e.g. backup, admin tools)

• Grow government customer base focusing on security & privacy

• Leverage partner community to accelerate feature development and grow sales

Market Growth

24%

$19BTotal Market

11Source: Radicati, growth for 2016 – 2020Total Market for 2016

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VIDEO PLATFORM/CLOUD IDEND-TO-END VIDEO AND IDENTITY MANAGEMENT PLATFORM

• Ability to authenticate nearly all Pay TV households in US

• Selected to provide Cloud ID Authentication for HBO Go

• Supported deployment of Apple’s Single Sign-On platform

• Participating with CTAM & OATC on industry standards

• Debuted end-to-end TVE and OTT solutions for GVTC and Consolidated

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VIDEO PLATFORM/CLOUD ID GROWTH OPPORTUNITY

• Win new video platform customers

• Win new content provider customers

• Extend Cloud-ID into new verticals and geographies

Online OTT & Video Revenue

28%

$37BTotal Market

13Source: Digital TV Research, 2010 – 2020Total Market for 2016

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BLUE-CHIP CUSTOMERS AND PARTNERS

Advertising and Content Partners

Command and Simulation Solutions

Chile

120 Service Providers, 1,000 Government Agencies, 2,500 Businesses, 1,000 Publishers

ADVERTISING

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• Win new portal and email service provider customers

• Win government email customers

• Win content providers

• Launch AT&T

• Programmatic Growth

• Expand mobile monetization

4-PILLAR GROWTH AGENDA BUILT ON OPERATING DISCIPLINE

Increase value for existing customers by optimizing consumer experience &

monetization

Innovate on Synacor-as-a-platform for advanced

services

Win new customers in current and related

verticals

Extend product portfolio into international and

enterprise

CLEAR STRATEGY FOR PROFITABLE REVENUE GROWTH

• Grow Open Source Support adoption

• Explore Cloud ID into new verticals

• Leverage partner community to accelerate email feature development

• Win customers in new geographies

BUILT ON OPERATING DISCIPLINE

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SYNACOR’S 3/30/300 PATHTARGETING $300M IN REVENUES AND $30M IN EBITDA IN 2019

Revenue, $Millions Adjusted EBITDA*, $Millions

*Please refer to the appendix for information regarding the reconciliation of GAAP net loss to adjusted EBITDA for twelve months ended December 31, 2015 and

December 31, 2016 and for guidance for twelve months ending December 31, 2017. Guidance is as of November 14, 2017.

INVESTING ~$10M BETWEEN 2H16 – 1H17 TO DEVELOP AND DEPLOY FOR A MAJOR CUSTOMER

$110.2$127.4

$140 - $145

~$300

2015 2016 2017G 2019G

$7.6

$3.2 $0.8 - $2.8

~$30

2015 2016 2017G 2019G

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INVESTMENT HIGHLIGHTS

A Transformation Story with Multiple Profitable Growth Avenues

STRONG OPPORTUNITIES FOR

GROWTH

RECURRING AND FEE-BASED REVENUE

MASSIVE TRANSFORMATION

ON A PATH:

• 3 YEARS (2019)

• $30M EBITDA

• $300M REVENUE

SEASONED MANAGEMENT

TEAM

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THANK YOU

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APPENDIX

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ADJUSTED EBITDA RECONCILIATION

2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 2016 Q1 2017 Q2 2017

Revenue 110,245 30,260 30,476 31,721 34,916 127,373 26,540 31,216

Net (loss) income (3,474) (1,565) (2,757) (3,365) (3,053) (10,740) (6,656) (3,276)

Provision (benefit) for income taxes 239 144 260 379 436 1,219 446 309

Interest expense 245 68 84 75 91 318 87 114

Other (income) expense 16 (2) (242) 38 248 42 (6) (67)

Depreciation and amortization 6,901 2,098 2,270 2,414 2,453 9,235 2,184 2,224

Stock-based compensation 3,115 737 687 680 667 2,771 647 676

Loss in equity interest 73 - - - - - - -

Capitalized software impairment - - - - 334 334 - 256

Acquisition costs 478 - - - - - - -

Adjusted EBITDA 7,593 1,480 302 221 1,176 3,179 (3,298) 236

Q3 2017

36,269

261

127(99)

2,596

-

-

1,832

244

605

-

Gain on sale of investment - -- - - - - - (1,902)

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FISCAL 2017 AND Q3 2017 GUIDANCE RECONCILIATION*

Fiscal 2017 Guidance: Revenue for the full year of 2017 is now expected to be within the range of $140 million to $145 million. The Company expects to report a net loss in the range of $9.1 million to $11.4 million and adjusted EBITDA in the range of $0.8 million to $2.8 million, which excludes stock-based compensation expense of $2.5 million to $2.6 million, depreciation and amortization of $9.6 million to $9.8 million, gain on investment of $1.9 million and tax, interest expense, capitalized software impairment, and other income and expense of $1.7 million.

Q4 2017 Guidance: Revenue for the fourth quarter of 2017 is projected to be in the range of $46.0 million to $51.0 million. The Company expects to report net income of ($1.8) million to $0.5 million and adjusted EBITDA of $2.0 million to $4.0 million, which excludes stock-based compensation expense of $0.6 million to $0.7 million, depreciation and amortization of $2.6 million to $2.8 million, and tax, interest expense and other income and expense of $0.3 million.

*Guidance is as of November 14, 2017.