CYREN investor presentation at Needham Growth Conference on January 13, 2015 Learn more: http://bit.ly/NeedhamCYRN

1. 1©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. This document and the contents therein are the sole property of CYREN and may not be transmitted or reproduced without CYREN’s express written permission.
INVESTOR PRESENTATION
January 2015
NASDAQ: CYRN

2. 2
Safe Harbor and Forward Looking Statements
This presentation contains forward-looking statements, including projections about our business, within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in
the future tense, and statements including words such as "expect," "plan," "estimate," "anticipate," or "believe" are forward-
looking statements. These statements are based on information available to us at the time of the presentation; we assume no
obligation to update any of them. The statements in this presentation are not guarantees of future performance and actual
results could differ materially from our current expectations as a result of numerous factors, including business conditions and
growth or deterioration in the Internet market, commerce and the general economy, both domestic as well as international;
fewer than expected new-partner relationships; competitive factors, including pricing pressures; technological developments,
and products offered by competitors; the ability of our OEM partners to successfully penetrate markets with products
integrated with CYREN technology; a slower than expected acceptance rate for our newer product offerings; availability of
qualified staff; and technological difficulties and resource constraints encountered in developing new products, as well as those
risks described in the text of this presentation and the company's Annual Reports on Form 20-F and reports on Form 6-K, which
are available through www.sec.gov.
© 2015 CYREN. All rights reserved. CYREN, Recurrent Pattern Detection, RPD, Zero-Hour and GlobalView are trademarks, and
Authentium, Command Antivirus and Command AntiMalware are registered trademarks of CYREN. U.S. Patent No. 6,330,590
is owned by CYREN. All other marks are the property of their respective companies.

3. 3
CYREN Snapshot
 U.S. Headquarters / / Offices in
Europe, Middle East and APAC
 200 employees
 Worldwide direct sales and channel
distribution
 19 data centers worldwide / / fault-
tolerant network
 24x7x365 support
 GlobalView™ Cloud Platform
processing 12 billion transactions
per day from 550+ million endpoints
 200+ global partners in 190
countries
Company Facts Revenue
$3.9
$7.2
$11.3
$14.1 $15.2
$18.2
$23.0$24.1
$32.8
2005 2006 2007 2008 2009 2010 2011 2012 2013
($ in millions)
Revenue (Non-GAAP)(1)
Representative Global Partners
Source: Company filings.
(1) The difference between non-GAAP and GAAP revenue is derived from the fact that
deferred revenues consolidated from acquired companies are recorded based on fair
value rather than book value for GAAP purpose.

4. 44
Business Overview
CYREN brings the next generation of
cloud-based security technology and services
to global businesses by leveraging its
real-time global threat data.

5. 5
Today’s Security Landscape Challenge
There are only two kinds of companies. Those who know they have been breached and those who don’t.
IT Security Challenges
 Increasing use of cloud-based apps
reduces IT visibility and control of
enterprise data.
 25% of all corporate data traffic will flow
directly from mobile devices to the cloud
by 2018.
 Mobile breaches will shift to tablets and
smartphones from workstations by 2017.
The need for genuine threat intelligence and reputation scoring
that is cloud-focused, mobile-oriented has never been greater.
(1) Source: Gartner The Growing Importance of Cloud Access Security Brokers (May 2012)

6. 6
30.
2%
37.
1%
32.
7%
40.
1%
31.1%
28.
8%
Shift to the Cloud
Messaging Security(1)
Mobile and
Roaming Users
Enterprise
Messaging
Cloud-Based
Security
Web Browsing
2013: $800 million 2017: $1 billion
(1) Source: Gartner Cloud-Based Security Services Market, Worldwide 2014
Web Security(1)
Email and web filtering have experienced
more rapid adoption of cloud-based solutions
relative to other security solutions
40.
7%
41.
0%
18.
4%
41.
7%
35.
1%
23.
3%
2013: $390 million 2017: $810 million
2013-2017 CAGR of 7.1% for SaaS Platform
2013-2017 CAGR of 21.2% for SaaS Platform
Software SaaS
Enterprise

7. 7
CYREN GlobalView™ Cloud Platform Solutions
Global threat analysis, behavioral, and dynamic reputation scoring is only available via tools that use the Cloud.
Cloud-driven security solution enabling true
full content inspection, including SSL traffic
to better protect employees from rapidly
evolving cyber threats
Cyber security products and solutions
responsive to advanced malware and other
cyber attacks targeting the data center that
routinely bypass conventional signature-
based defenses
Use cloud-based solutions to arm your organization with the intelligence needed to prevent and handle breaches.
Cyber Threat Protection
WebSecurity

8. 8
Secure browsing from any device, anywhere
 A total solution for roaming users, smartphones and tablets – including BYOD
 An intuitive customer experience – easy to set up and manage
HOW IT WORKSBENEFITS
 Partners build their own
value-added services
 Supports any sales
ecosystem
 Leverages CYREN’s
leading detection for
superior protection
 Low-cost robust cloud
infrastructure
WebSecurity

9. 9
 Capture and interrogate all things internet and
classify by reputation
 Block the delivery of zero-day malware
 Contain infections by blocking communication
to Command and Control
 Block exfiltration of data performed via HTTP/S
communication
OUTBOUND THREATS Botnet C&C Traffic, Malicious URL / IP, Spam
Virus, Adware, Spyware, Malicious Scripts, Emails  INBOUND THREATS
Threat
Prevention
Threat
Detection
Threat
Containment
Incident
Response
Advanced threat protection and analytics secures corporate assets
Cyber Threat Protection

10. 10
Go-To-Market Strategy
Highly efficient, multi-pronged go-to-market strategy across solutions and target customers
Distributors / VARsVendors / OEMs ISPs / Telcos Direct Sales
 Global Team
‒ Americas
‒ EMEA
‒ APAC
 Inside Sales
‒ Lead generation
‒ Follow the sun
 Market focus
‒ Large enterprises
‒ SMEs
 Delivering embedded
and platform solutions
 Sales overlay model
 Market focus
‒ Large enterprises
‒ SMEs
‒ SMBs
 Delivering embedded
solution
 Market focus
‒ SMEs
‒ SMBs
‒ Consumer
 Delivering embedded
and platform solutions
 Market focus
‒ Large enterprises
‒ SMEs
‒ SMBs
‒ Consumer

11. 11
Vendor Landscape

12. 1212
Financial Overview
Protect your company’s most
critical information assets on any device,
any location, all the time

13. 13
Financial Highlights
Upside Opportunity with
Platform Business
Highly
Predictable
Business
Model
Profitable
Embedded
Business
Impressive
Gross
Margins
Solid
Historical
Revenue
Growth
 Eight consecutive years of consistent non-GAAP revenue
growth, representing a 30.5% CAGR for the period
 Solid balance sheet with $13.1 million in cash (Sept 30, 2014)
 Embedded global OEM customers delivers stable revenue base
 Subscription model produces highly visible revenue
 Embedded business delivers >80% gross margins
 Strong cash / margin generation from incremental revenue due
to scalable business model
 R&D for new solutions is largely funded from cash flows of
embedded business
 Powerful solutions utilizing proprietary embedded data assets
and scalable infrastructure are well positioned for considerable
market adoption

14. 14
Revenue (Non-GAAP)(1)
Source: Company filings.
(1) The difference between non-GAAP and GAAP revenue is derived from the fact that deferred revenues consolidated
from acquired companies are recorded based on fair value rather than book value for GAAP purpose.
$7.9 $8.1 $8.0 $8.2 $8.1 $8.3
$7.8
1Q13A 2Q13A 3Q13A 4Q13A 1Q14A 2Q14A 3Q14A
$3.9
$7.2
$11.3
$14.1
$15.2
$18.2
$23.0
$24.1
$32.8
2005 2006 2007 2008 2009 2010 2011 2012 2013
($ in millions)($ in millions)

15. 15
Balance Sheet Highlights
Balance Sheet Item June 30, 2014 September 30, 2014
Cash $3,104 $13,094
Current Assets $9,397 $18,596
Credit Line $5,301 $5,347
Deferred Revenue $5,738 $5,646
Current Liabilities $16,993 $16,434
Shareholder’s Equity $24,988 $33,430
Shares Outstanding 26,589 31,364
All numbers in thousands (1,000s)

16. 16
Investment Highlights
Large TAM with
Strong
Tailwinds
Unique Data
Asset
Compelling
Business
Model
Proven, Scaled
Platform
Significant
Upside
Opportunity
 $35 billion total addressable market in 2018(1)
 Major shift in IT, as cloud and mobile expand, opening significant opportunity
for emerging vendors
 Proprietary detection technology
 Scalable cloud-based global infrastructure
 Over 12 billion transactions per day, analyzed in real-time
 200+ global partners; leveraging traffic data from numerous notable security
providers
 Recurring revenue business model
 Gross margins of approximately 75%
 Solid balance sheet with $13.1 million in cash (Sept 30, 2014)
 Significant growth opportunity in platform solutions: WebSecurity and APT
 Profitable embedded business funding emerging solutions
(1) Source: Gartner Information Security, Worldwide Forecast, 2012-2018 (3Q14 Update)

17. 17©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. This document and the contents therein are the sole property of CYREN and may not be transmitted or reproduced without CYREN’s express written permission.
Thank you.
www.cyren.com