This document provides an overview of Document Security Systems, Inc. (DSS), a company focused on brand protection and security printing. It discusses DSS's three business lines: digital solutions, printed products, and licensing/IP monetization. For digital solutions, DSS is developing AuthentiGuard, a next-generation brand protection solution. The printed products division provides secure packaging and ID cards. DSS also generates revenue through licensing its security technologies and pursuing IP litigation. Overall, the document outlines DSS's business model and growth opportunities in brand protection and intellectual property monetization.

1. NYSE MKT:DSS
Company Presentation November 2015

2. NYSE MKT: DSS
Important Cautions Regarding Forward-
Looking Statements
2
Forward-looking statements that may be contained in this presentation, including, without limitation,
statements related to the Company’s plans, strategies, objectives, expectations, potential value,
intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act and contain words such as “believes,” “anticipates,” “expects,”
“plans,” “intends” and similar words and phrases.
These forward-looking statements are subject to risks and uncertainties that could cause actual
results to differ materially from the results projected in any forward-looking statement. In addition to
the factors specifically noted in the forward-looking statements, other important factors, risks and
uncertainties that could result in those differences include, but are not limited to, those disclosed in
the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December
31, 2014, filed with the Securities and Exchange Commission on March 30, 2015 and updated in the
Company’s Form 10-Q filings for the first and second quarters of 2015.
Forward-looking statements that may be contained in this presentation are being made as of the date
of its release, and the Company assumes no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those projected in the forward-looking
statements.

3. NYSE MKT: DSS
Key Stats (NYSE MKT: DSS)
Stock Price (11/13/15) $0.23
52 Week Low-High $0.15-$0.74
Avg. Daily Vol. (3 mo.) 143,802
Shares Outstanding 51.8M
Float (est.) 49.4M
Insider Holdings 5%
Institutional Holdings 4%
Market Cap $11.9M
Enterprise Value $19.5M
Date Founded 1984
Employee Count 103
Total Revenue (ttm) $16.9M
Adj. EBITDA (ttm) $(2.1M)
EPS (ttm) $(0.74)
P/S (ttm) 0.7x
Cash (Sep30, 2015) $1.2M
Total Assets (Sep30, 2015) $26.4M
Total Debt (Sep30, 2015) $8.0M
Data sources: Yahoo! Finance, S&P Capital IQ, company estimates
Figures in USD unless otherwise noted; (ttm) = trailing twelve months as of
September. 30. 2015
1. Figures unaudited
Revenue
15.3 15.5
16.5
15.1
1.8 2.0
1.8
1.8
$17.1 $17.5
$18.3
$16.9
2012 2013 2014 TTM
$ millions
Tech Sales & Licensing Revenue
Printed Product Revenue
1
3

4. NYSE MKT: DSS
What We Do
 We have 3 primary areas of focus:
 Digital Solutions
 Printed Products
 Licensing and IP Monetization
 Our core technologies help prevent documents
from being copied or scanned.
 Our technologies lie at the heart of the brand
protection field- which addresses the $1 trillion
global brand and product counterfeiting problem.
 We continuously invest in R&D to remain leaders in
our market and have a broad IP portfolio.
 We seek significant returns from IP monetization
investments
Security
Mark
Application Database
Copy Scan
Original

5. NYSE MKT: DSS
Counterfeiting is a Global Epidemic
• 10% of Global GNP is
counterfeit goods
1
• $1 trillion losses globally
($250B in U.S.)2
• $142B anti-counterfeit
packaging market
3
1) U.S. Chamber of Commerce
2) GCCCP – United Nations World IP Organization
3) Allied Market Research, March 2014
4) ICE Newsroom
5) eBay, LVMH reach settlement over fake goods; CBS news, 7/17/2014
• Leading up to Super Bowl XLIX agents
seized more than 326,147 items of phony
sports memorabilia along with other
counterfeit items worth more than $19.5
million4
• In 2014, LVMH settled litigation with
eBay, in which it was disclosed that 90
percent of the designer goods sold on
eBay were fakes, and eBay had removed
more than two million sellers who had
violated the trademarks of rights holders5

6. NYSE MKT: DSS
Counterfeiting is a Global Epidemic
DSS Core optical deterrent technologies help deter the
most prevalent source of counterfeiting -desktop
scanning and color copying by a digital scanner.
According to the U.S. Secret Service 2010 Annual Report:
“The widespread use of personal computers and advancements in
digital printing technology have provided more individuals the
opportunity to manufacture a passable counterfeit note with
relative ease. Approximately 63 percent of the counterfeit currency
passed domestically in FY 2010 was produced using digital printing
means, compared with less than one percent in FY 1995.” 1995
63%
1%
2010

7. NYSE MKT: DSS
Our Revenue Lines
Printed ProductsDigital Solutions IP Licensing & Monetization
Develop applications for
authentication & security
• Next–generation brand
protection solution
• Integrates print security, data
security, and GPS tracking
technologies
• SAAS licensing model
Manufacture
secure printed products
• Deliver custom security
printing, packaging and ID
card products to end-user
customers
• Supports licensing business
Develop, acquire
& license technology
• Expand market reach of
technologies
• Creates partners to enhance
capabilities for customers
• Enter new markets

8. NYSE MKT: DSS
DSS Digital Solutions
8
For more information: www.authentiguard.com
❸ IP Licensing and Monetization❷ Printed Products❶ Digital Solutions
 AuthentiGuard®: Authenticates
packaging and printed material
through a mobile application
 Target market: Brand Protection for
consumer products, industrial
components & pharmaceuticals
 AuthentiSite: Verifies authenticity
of websites
 Target markets: Online retail &
wholesalers
The PortalThe Mark The App
The DatabaseThe Mark The App

9. NYSE MKT: DSS
DSS Digital Solutions
9
 Product development since October 2012
 $2 million R&D budget (patent protected)
 Targets the global brand protection
market estimated to hit $3.8 billion in
2018.1
❸ IP Licensing and Monetization❷ Printed Products❶ Digital Solutions
• Fills a significant void in the current brand
protection market- a covert tracking system
that uses existing production means and
authentication tools and cannot be copied or
scanned.
• Customer targets include large multi-
nationals seeking brand protection solution.
• We are now often dealing with new “brand
protection” departments.
• Longer sales cycles touching marketing,
production and security groups.
• Sales contracts expected to be $300,000 -$3
million per customer.
• Profitability with first enterprise customer,
scales quickly.
AuthentiGuard™
The Mark
The Application
The Database
For more information: www.authentiguard.com
1- Smithers Pira The Future of Anticounterfeiting, Brand Protection and Security Packaging VII

10. NYSE MKT: DSS
Printed Products
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 Secure and commercial
packaging solutions
 Intelligent cards that
authenticate identity &
resist counterfeiting
 Printing services that
leverage DSS’ fraud
protection technology
❸ IP Licensing and Monetization❷ Printed Products❶ Digital Solutions
 Core competency: Delivery of
patented “optical deterrence”
security technologies across multiple
products.
 Supports continuous R&D efforts to
stay ahead of new counterfeiting
risks.
 Profitable division with strong
customer base.
Products

11. NYSE MKT: DSS
Printed Products
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 Packaging:
 multi-year contracts with largest
customers provides stable,
predictable revenue
 Platform for integration with
Authentiguard™ roll-out
 ID Cards:
 RFID focus offers significant upsell
to core customer group
 Strong presence in event badges
(Super Bowl, World Series, etc.)
 Printing:
 Security printing relationships with
Fortune 500 consumer brands.
❸ IP Licensing and Monetization❷ Printed Products❶ Digital Solutions
$11.2
$3.5
$1.8
2014 Revenue Mix
$ Millions
Packaging ID Cards Printing
88%
28%
-51%
-100%
0%
100%
Packaging ID Cards Printing
% Change since 2011
Note: Figures unaudited

12. NYSE MKT: DSS
Printed Products
12
❸ IP Licensing and Monetization❷ Printed Products❶ Digital Solutions
52%
22%
0%
20%
40%
60%
1st half 2015 vs. 1st half 2014 2014 vs. 2013
Technology Card Trends
 Targeted growth in technology
card sales and security printing
products offset loss of commercial
printing revenue.
 Approximately $1 million in press
equipment installed in 2015 to
enhance variable-printing
capabilities.
18%
8%
0%
10%
20%
1st half 2015 vs. 1st half 2014 2014 vs. 2013
Security Printing Trends
Note: Figures unaudited

13. NYSE MKT: DSS
IP Licensing and Monetization
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 Follow the “technology roadmap” of our
business lines to create new solutions and
identify IP with significant commercial &
licensing potential
 Opportunistic IP acquisition - highly
selective (acquired <1% of IP portfolios
evaluated)
 License IP/patents to commercial partners
 Enforce IP where commercialization is
blocked by competitors
 Utilize co-investor and contingent legal to
support IP enforcement efforts
❶ Digital Solutions
 Long-standing licenses with top
security printers in the U.S.
 RR Donnelly
 Banknote Corp. of America
 Our licensees use DSS technology for
wide–range of secure documents:
 Checks, government documents,
coupons, and vital records.
 Licensing provides high-margin
returns and expanded production
network
 $750,000 annual run rate
IP Monetization
❷ Printed Products ❸ IP Licensing and Monetization
Licensing

14. NYSE MKT: DSS
Active IP Litigation
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Technology Status Current Defendants
Use of wireless
peripheral devices in
“Personal Data
Network”
 Case pending in the Northern District of
California
 IPR pending
 Case stayed pending IPR
Semiconductor
Fabrication
(Double Patterning)
 Cases pending in the Eastern District of Texas
 IPR pending
 DSS appealed the Court’s Markman ruling.
Semiconductor
Fabrication
 Cases pending in the Eastern District of Texas
❷ Printed Products❶ Digital Solutions ❸ IP Licensing and Monetization

15. NYSE MKT: DSS
Costs and Expenses
(Excluding stock based compensation and IP
Amortization)
$18.3 $18.2
$20.0
$19.5
2012 2013 2014 TTM
Revenue
Income Statement Highlights
$15.3 $15.5
$16.5
$15.1
$1.8 $2.0
$1.8
$1.8
$17.1 $17.5
$18.3
$16.9
2012 2013 2014 TTM
$ millions
Tech Sales & Licensing Revenue
Printed Product Revenue
1
$ millions
15
1- Figures unaudited
1

16. NYSE MKT: DSS
Income Statement Highlights
16
Costs and Expenses
(Excluding stock based compensation and IP Amortization and impairment costs)
Nine Months
Ended September
30, 2015
Nine Months
Ended September
30, 2014 % change
Costs and expenses
Cost of goods sold, exclusive of
depreciation and amortization 7,206,000$ 8,506,000$ -15%
Sales, general and administrative
compensation 3,021,000 3,613,000 -16%
Professional fees 1,534,000 1,430,000 7%
Sales and marketing 250,000 425,000 -41%
Rent and utilities 510,000 567,000 -10%
Other operating expenses 564,000 665,000 -15%
Research and development 350,000 344,000 2%
Total costs and expenses 13,435,000$ 15,550,000$ -14%

17. NYSE MKT: DSS
($1.3)
($2.0)
($2.8)
($2.1) ($2.1)
($1.3)
2012 2013 2014 TTM
1st 9 months
of 2014
1st 9 months
of 2015
Income Statement Highlights
$ millions
17
Adjusted EBITDA
(earnings before interest, taxes, depreciation and amortization,
stock based compensation and other non-recurring items)
1- Figures unaudited
1

18. NYSE MKT: DSS
Balance Sheet Summary
 $800,000 available under a
revolving credit line.
 IP monetization investments
partially funded by co-
investors $4.1 million of debt
which is secured by the
underlying IP assets.
Select Balance Sheet Items
$Millions September 30,
2015
Cash & restricted cash $1.5
Net working capital $0.4
Total assets $26.4
Total debt $8.0
Total liabilities $12.3
Total stockholders’ equity $14.0
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19. NYSE MKT: DSS
Key Takeaways
 Differentiated business model — focused on high growth
commercialization and licensing opportunities
 Valuable near-term growth opportunities with AuthentiGuard & other
technology products
 Significant upside potential with IP licensing
 Catalysts include potential product successes and litigation milestones
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20. NYSE MKT: DSS
Contact Us
DSS Investor Relations
Tel (585) 325-3610
IR@dsssecure.com
Document Security Systems, Inc.
28 Main Street East, 15th Floor
Rochester, NY 14614
www.dsssecure.com
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