This document provides an overview of Belden Inc., a global signal transmission solutions company. It discusses Belden's five business platforms that deliver connectivity solutions for various markets. It also provides financial information on Belden's revenues, EBITDA margins, market shares, and goals to achieve growth rates of 5-7% and EBITDA margins of 18-20% through 2018. The document aims to position Belden as a leader in delivering highly engineered connectivity solutions for mission critical applications in global markets.

1. © 2016 Belden Inc. | belden.com | @BeldenInc
July 2016
Belden
Leading the Way to an
Interconnected World

2. © 2016 Belden Inc. | belden.com | @BeldenInc 2
Leading The Way to an Interconnected World
Delivering highly-engineered signal transmission
solutions for mission-critical applications in a diverse set of global markets
Business Platforms Applications Vertical Markets
Data
Sound
Video
Industrial
Enterprise
Broadcast

3. © 2016 Belden Inc. | belden.com | @BeldenInc 3
Five Business Platforms Delivering
Innovative Connectivity Solutions
Broadcast Enterprise
Industrial
Connectivity
Industrial IT
Solutions
Network
Security
• Industrial and I/O
Connectors
• Industrial Cable
• Distribution Boxes
• Customized
Connectivity Solutions
• Ethernet Switches
• Wireless Systems
• Routers and
Gateways
• Security Devices
• Network Management
Software
• Copper and Fiber
Connectivity
• Racks and Enclosures
• Ethernet, Fiber Optic
and Coaxial Cabling
• Custom Infrastructure
Solutions
• Broadcast Connectors
• Routers and Interfaces
• Broadband
Connectivity
• Multi-Viewers and
Monitoring and Control
Systems
• Playout Systems
• Vulnerability
Assessment
• Security Configuration
Management
• Log Intelligence
• Analytics and
Reporting

4. © 2016 Belden Inc. | belden.com | @BeldenInc 4
A Global Signal Transmission Solutions Company
Broadcast
Enterprise
Connectivity
Industrial
Connectivity
Industrial IT
Network
Security
Market Size1
$4.0B $4.2B $4.0B $1.3B $4.3B
3-Year Market
Growth Rate
1-3% 1-3% 0-2% 1-3% 10-12%
Market Share1
18% 14% 16% 20% 4%
2015 Revenue $740.0M $605.9M $603.3M $244.3M $167.1M
2015 EBITDA
Margin
15.4% 16.5% 16.6% 17.7% 26.7%
Key Markets
• Broadband
• Broadcast
Studios
• Mobile
Production
• Finance
• Healthcare
• Commercial
Buildings
• Discrete
• Process
• Energy
• Transportation
• Finance
• Energy
• Retail
• Government
• Industrial
1. Served addressable market..

5. © 2016 Belden Inc. | belden.com | @BeldenInc 5
Financial Performance
Revenues (M) EBITDA Margin1 Return on
Invested Capital2 Free Cash Flow3
2005 $1,246 8.5% 4.1% $37M
2015 $2,361 17.0% 12.0% $182M
Variance 6.6% CAGR
Improvement of
850 bps
Average of
13.1%
17.3% CAGR
Driving best-in-class shareholder value
1. Non-GAAP results. See appendix for reconciliation to comparable GAAP results.
2. Excluding excess cash, Average of 2012-2015.
3. See appendix for reconciliation to comparable GAAP results.

6. © 2016 Belden Inc. | belden.com | @BeldenInc 6
A Disciplined Capital Deployment Strategy
Innovation and
Market Expansion
Share
Repurchase
M&A
Invest in
growth opportunities
Repurchase Belden stock
at attractive prices
Identify product and market
opportunities, and acquire with
a disciplined approach
• Product innovation
• Productivity
improvement
• Capital expenditure
• Repurchased 7.4 million
shares at $47.43 average
• ~16% of outstanding
shares
• $350M invested since
2011
• >$2.8 billion invested
since 2007
• >13% Cash ROIC on
acquisitions made
before 2015
2015 ROIC* = 12.0%
Deploy capital to highest ROIC project
* ROIC excluding excess cash

7. © 2016 Belden Inc. | belden.com | @BeldenInc 7
Connectivity Peers
Cable Peers
10.0%
20.0%
30.0%
40.0%
50.0%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
A Common Misperception About Belden
“Belden is a Wire and Cable company.”
Improvement of
1,930 bps
Belden’s Gross Profit Margin Exceeds Connectivity Peers
1. Adjusted results. See appendix for reconciliation to comparable GAAP results.
2. Peer margin based on 2015 expectations

8. © 2016 Belden Inc. | belden.com | @BeldenInc 8
10%
12%
14%
16%
18%
20%
2010 2011 2012 2013 2014 2015
Consistent Margin Progression
We have shown the ability to consistently
improve margins in a low-growth environment
EBITDA
Margin
Goal:
18 - 20%
11.9% 11.7%
13.0%
15.7% 15.5%
EBITDA Margin (%)1
17.0%Peer Average
1. Non-GAAP results. See appendix for reconciliation to comparable GAAP results

9. © 2016 Belden Inc. | belden.com | @BeldenInc 9
10 Year EPS Growth
0%
5%
10%
15%
20%
25%
Peer A S&P 500 Peer B Peer C Peer D Belden
Since 2005, Belden has generated
upper quartile EPS growth of 22%

10. © 2016 Belden Inc. | belden.com | @BeldenInc 10
High Quality Earnings: Free Cash Flow Generation
Delivering 21.3% CAGR in free cash flow per share
0
1
2
3
4
5
6
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
FCF per Share1
1. Non-GAAP results. See appendix for reconciliation to comparable GAAP results
2. Excludes the cash payments for the Broadcast restructuring program that began in Q3 2015.
$2.41
$3.07
$3.38
$2.47
$0.71
$1.80
$4.882
$3.03 $3.16
$4.28
$4.46
21.3% CAGR

11. © 2016 Belden Inc. | belden.com | @BeldenInc 11
4.2x
4.9x 4.9x
4.7x 4.6x
4.2x
4.5x
0.0x
1.0x
2.0x
3.0x
4.0x
5.0x
6.0x
2010 2011 2012 2013 2014 2015 2016
Net Interest Coverage Ratio Has Been Consistent
Incurrence
Covenant
Belden generates more than 2x the required EBITDA
Net Interest Coverage Ratio

12. © 2016 Belden Inc. | belden.com | @BeldenInc 12
2008 Versus 2015
Market
Broadcast
Enterprise
Industrial
Product
Networking
Connectivity
Cable
2008
Market Product
2015
Divested cable
Acquired software,
networking and
connectivity
Network Security Security
Broadcast
Enterprise
Industrial
Networking
Connectivity
Cable

13. © 2016 Belden Inc. | belden.com | @BeldenInc 13
Transformation To Drive Continued Margin Expansion
14%
16%
18%
20%
2015 Leverage Mix Productivity Inorganic 2018
140 bps
20 bps
120 bps
20 bps 20.0%
17.0%

14. © 2016 Belden Inc. | belden.com | @BeldenInc 14
Opportunity Exists to Drive Increased Shareholder Value
4x
8x
12x
16x
EV/EBITDAMultiple
10% 15% 20% 25% 30%5%
EBITDA-Capex Margin
A
B
C
Increased free cash flow margin drives multiple expansion
Legacy Peers
E
C
D
A
B
Best In Class
Peers
F
2008
Today

15. © 2016 Belden Inc. | belden.com | @BeldenInc 15
Business Model Goals
THREE YEAR FINANCIAL GOALS
Growth 5 - 7%
EBITDA 18 - 20%
Return on Invested Capital 13 - 15%
Free Cash Flow Exceed Net Income
• Headwinds
− Weak global growth
− Strong US dollar
− Sustained low oil prices
• Tailwinds
− Cybersecurity
− Broadband demand
− Strength in enterprise
Market Growth
1-3%
Share Capture
2%
Inorganic Activity
2%
Total
Growth
5-7%
=+ +

16. © 2016 Belden Inc. | belden.com | @BeldenInc 16
Continued Focus on Productivity Improvement
Industrial Platform Cost Measures
Industrial Tailwinds
• Internet of Things
• Industrial automation
• Market-leading portfolio
Industrial Headwinds
• Stronger US dollar
• Industrial production
• Continued low oil prices
• Capacity utilization rates
Year
Cash
Investment
Savings
EPS
Impact
2016 $23M $6M $0.11
2017 $15M $17M $0.32
2018 - $22M $0.41

17. © 2016 Belden Inc. | belden.com | @BeldenInc 17
Q3 and Full Year 2016 Guidance
*
Fiscal Year 2016
Revenues
of between
$595 and $615
million
*Non-GAAP results. See appendix for reconciliation to comparable GAAP results
Q3 2016
EPS
of between
$1.20 and
$1.30 per
diluted share
Revenues
of between
$2.355 and
$2.385 billion
EPS
of between
$5.15 and
$5.35 per
diluted share

18. © 2016 Belden Inc. | belden.com | @BeldenInc 18
GAAP to Non-GAAP Reconciliation
Year Ended Three Months Ended
December 31, 2016 October 2, 2016
Adjusted revenues $2.355 - $2.385 billion $595 - $615 million
Deferred revenue adjustments ($7 million) ($2 million)
GAAP revenues $2.348 - $2.378 billion $593 - $613 million
Adjusted income per diluted share attributable to Belden stockholders $5.15 - $5.35 $1.20 - $1.30
Amortization of intangible assets ($1.61) ($0.41)
Severance, restructuring, and acquisition integration costs ($0.55) ($0.26)
Deferred gross profit adjustments ($0.11) ($0.02)
GAAP income per diluted share attributable to Belden stockholders $2.88 - $3.08 $0.51 - $0.61
Our guidance for revenues and income per diluted share attributable to Belden stockholders is based upon information currently
available regarding events and conditions that will impact our future operating results. In particular, our results are subject to the
factors listed under "Forward-Looking statements" in this release. In addition, our actual results are likely to be impacted by other
additional events for which information is not available, such as asset impairments, purchase accounting effects related to acquisitions,
severance, restructuring, and acquisition integration costs, gains (losses) recognized on the disposal of tangible assets, gains (losses) on
debt extinguishment, discontinued operations, and other gains (losses) related to events or conditions that are not yet known.

19. © 2016 Belden Inc. | belden.com | @BeldenInc 19
Q2 2016 Earnings Release
Conference Call Presentation

20. © 2016 Belden Inc. | belden.com | @BeldenInc 20
Our commentary and responses to your questions may contain forward-looking
statements, including our outlook for the 2016 third quarter, second half and full year.
Forward-looking statements also include projections of sales, earnings, general
economic conditions, market conditions, working capital, market shares, free cash flow,
pricing levels, and effective tax rates. Belden undertakes no obligation to update any
such statements to reflect later developments, except as required by law. Information on
factors that could cause actual results to vary materially from those discussed today is
available in the press release announcing 2016 second quarter results, our most recent
Annual Report on Form 10-K as filed with the SEC on February 25, 2016 (including
those discussed under “Risk Factors” in Part I, Item 1A and in “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” in Part II,
Item 7), and our subsequent filings with the Securities and Exchange Commission.
Safe Harbor Statement
Non-GAAP Measures
On this call we will discuss some non-GAAP measures (denoted by footnote) in
discussing Belden’s performance, and the reconciliation of those measures to the most
comparable GAAP measures is contained within this presentation or available at our
investor relations website, investor.belden.com.

21. © 2016 Belden Inc. | belden.com | @BeldenInc 21
• Achieved revenues of $603.4 million, an increase of 2.6%
organically from the prior-year period;
• Generated EBITDA margins of 17.9%, increasing 120 basis
from 16.7% in the year-ago period;
• Achieved EPS of $1.54, up 27% over last year’s $1.21;
• Generated an additional $57.5 million in free cash flow year-
to-date compared to the year-ago period;
Q2 2016 Highlights
Adjusted results. See Appendix for reconciliation to comparable GAAP results.
All references to EPS refer to income attributable to Belden stockholders per diluted share.

22. © 2016 Belden Inc. | belden.com | @BeldenInc 22
Precision A/V
Cable and Connectivity
Q2 2016 Segment Overview
Revenue $39.1M
EBITDA Margin 24.3%
Revenue $62.5M
EBITDA Margin 20.3%
Revenue $160.4M
EBITDA Margin 18.4%
Revenue $147.8M
EBITDA Margin 18.3%
Revenue $193.5M
EBITDA Margin 15.2%
Broadcast
Enterprise
Connectivity
Industrial
Connectivity
Industrial
IT
Network
Security
Camera Mounted
Fiber Solutions
Signal Processing
& Routing
Monitoring
Systems
Automation Playout
& Branding
Systems
Industrial and
I/O Connectors
Industrial
Cables
IP/Networking
Cables
I/O Modules/
Active
Distribution
Boxes
Customer-Specific
Wiring
Copper and Fiber
Connectivity
Racks and
Enclosures
Ethernet,
Fiber Optic and Coaxial
Cables, Security
& Routing
Wireless Switches Connectivity
Vulnerability AssessmentTargeted Attack Detection Threat Analytics
Drop, Headend and
Hardline Connectors

23. © 2016 Belden Inc. | belden.com | @BeldenInc 23
Q2 2016 Financial Summary
Q2 2016 Q1 2016 Q2 2015
Revenue $603.4M $543.8M $598.5M
Gross profit $252.0M $229.8M $249.5M
Gross profit percentage 41.8% 42.3% 41.7%
EBITDA $108.1M $89.1M $100.1M
EBITDA percentage 17.9% 16.4% 16.7%
Net Income1 $65.5M $42.7M $52.2M
Earnings Per Share1
$1.54 $1.01 $1.21
Adjusted results. See Appendix for reconciliation to comparable GAAP results.
(1) All references to Net Income and EPS refer to income attributable to Belden stockholders and income attributable to Belden
stockholders per diluted share.

24. © 2016 Belden Inc. | belden.com | @BeldenInc 24
Q2 2016 Segment Results
Consolidated are adjusted results. See Appendix for reconciliation to comparable GAAP results.
(1) Consolidated results include income from our equity method investment.
Broadcast
Enterprise
Connectivity
Industrial
Connectivity
Industrial IT
Network
Security
Consolidated
Q2 2016
Revenue $193.5M $160.4M $147.8M $62.5M $39.1M $603.4M
EBITDA(1) $29.5M $29.6M $27.1M $12.7M $9.5M $108.1M
EBITDA Margin 15.2% 18.4% 18.3% 20.3% 24.3% 17.9%
Q1 2016
Revenue $171.3M $135.9M $141.1M $53.9M $41.7M $543.8M
EBITDA(1) $23.3M $23.7M $23.0M $8.6M $11.5M $89.1M
EBITDA Margin 13.6% 17.5% 16.3% 16.0% 27.5% 16.4%
Q2 2015
Revenue $174.9M $161.8M $160.9M $61.3M $39.6M $598.5M
EBITDA(1) $22.9M $30.0M $28.7M $10.2M $8.8M $100.1M
EBITDA Margin 13.1% 18.4% 17.8% 16.6% 22.1% 16.7%

25. © 2016 Belden Inc. | belden.com | @BeldenInc 25
Q2 2016 Balance Sheet Highlights
Q2 2016 Q1 2016 Q2 2015
Cash and cash equivalents $176M $146M $208M
Inventory turns 7.1x 5.9x 6.0x
Days sales outstanding 60 days 60 days 64 days
PP&E turns 7.6x 6.8x 7.3x
Total debt principal amount $1.71B $1.72B $1.92B
Net Leverage1 3.6x 3.7x 3.9x
(1) Net leverage calculated as (A) total debt less cash and cash equivalents divided by (B) trailing twelve months Adjusted EBITDA plus trailing twelve months stock based compensation
expense plus trailing twelve months long-term incentive plan expense for certain acquired companies.

26. © 2016 Belden Inc. | belden.com | @BeldenInc 26
Q2 2016 Cash Flow Highlights
(1) Capital expenditures, net of proceeds from the disposal of tangible assets. See Appendix for reconciliation.
(2) Free cash flow is not a term defined by generally accepted accounting principles (GAAP) and our definition may or may not be used consistently with other companies that define this term.
See Appendix for reconciliation to comparable GAAP results.
(3) Net of cash acquired.
Q2 2016 Q2 2015 YTD 2016 YTD 2015
Cash flows from operating activities $ 47.8M $ 53.3M $60.5M $ 5.0M
Less: Net capital expenditures(1) $ 11.7M $ 11.7M $ 25.1M $ 27.1M
Free cash flow (2) $ 36.1M $ 41.6M $ 35.4M $ (22.1M)
Cash used to acquire businesses(3) $ 2.5M $ 0.0M $ 17.8M $ 695.3M
Cash dividends paid $ 2.1M $ 2.1M $ 4.2M $ 4.2M