Internap's Q3 2015 earnings report shows a consolidated revenue decrease of 7% year-over-year and 3% quarter-over-quarter, with data center services revenue also declining. Despite these challenges, the company highlights positive trends in churn reduction and increased sales productivity through new initiatives and channel programs. The forward-looking strategy aims to accelerate profitable growth and enhance performance-based product offerings.

1. Third Quarter 2015 Earnings Conference Call
November 5, 2015

2. This presentation contains forward-looking statements, including our expectations
for churn improvement in the fourth quarter of 2015, our expectations for revenue,
adjusted EBITDA and capital expenditures in 2015 and our ability to accelerate
profitable growth from our new performance-based product offerings and greatly
improved execution. Because such statements are not guarantees of future
performance and involve risks and uncertainties, there are important factors that
could cause Internap's actual results to differ materially from those in the forward-
looking statements. These include statements related to our expectations
regarding performance of our IT infrastructure services and the benefits we expect
our customers to receive from them, customer adoption rates of our new
performance-based product offerings, our ability to execute our strategy, deliver
growth and generate cash, our ability to leverage data center expansions and
continue to build positive operating leverage in the business model, our ability to
sell into available data center capacity, our ability to renegotiate key IP transit
contracts on favorable terms and our ability to increase our utilization of our data
center space. Internap discusses these factors in its filings with the Securities and
Exchange Commission. Given these risks and uncertainties, investors should not
place undue reliance on forward-looking statements as a prediction of future
results. Internap undertakes no obligation to update, amend, or clarify any
forward-looking statement for any reason.
2
Forward-looking Statements

3. • Board of Directors created a Strategy Committee
of independent directors
• Hired Morgan Stanley and Greenberg Traurig to
assist in evaluation of strategic alternatives
• The evaluation is ongoing
• No further comment at this time
Strategic Review Process Summary
Strategic Review
3

4. • Consolidated revenue of $78.3M decreased 7% Y/Y and 3% Q/Q
• Data center services revenue of $58.6M decreased 5% Y/Y and 1% Q/Q
• Core data center services revenue of $48.4M decreased 3% Y/Y and 1% Q/Q
• Segment profit of $44.6M decreased 6% Y/Y and 6% Q/Q
• Segment margin of 57.0% expanded 90 bps Y/Y and decreased 200 bps Q/Q
• Adjusted EBITDA* of $19.8M flat Y/Y and increased 3% Q/Q
• Adjusted EBITDA margin* of 25.2% expanded 190 bps Y/Y and 140 bps Q/Q
• Levered free cash flow* of $2.2 million
Financial Results Summary
3Q15 Highlights
4
* 3Q’15 adjusted EBITDA and adjusted EBITDA margin include executive transition costs of $0.3M.
Core data center services defined as company-controlled colocation, hosting and cloud services.
Segment profit, segment margin, adjusted EBITDA, adjusted EBITDA margin and levered free cash flow are non-GAAP measures. Segment profit is segment revenues less
direct costs of network, sales and services, exclusive of depreciation and amortization. Segment profit does not include direct costs of customer support, direct costs of
amortization of acquired technologies or any other depreciation or amortization associated with direct costs. Segment margin is segment profit as a percentage of segment
revenues. Adjusted EBITDA is loss from operations plus depreciation and amortization, (loss) gain on disposals of property and equipment, exit activities, restructuring and
impairments, stock-based compensation, acquisition costs and strategic alternatives and related costs. Adjusted EBITDA margin is adjusted EBITDA as a percentage of
revenues. Levered free cash flow is adjusted EBITDA less capital expenditures, net of equipment sale-leaseback transactions and cash paid for interest. A presentation of
segment profit and segment margin and a reconciliation of adjusted EBITDA to GAAP loss from operations and levered free cash flow can be found in the attachment to our
third quarter 2015 earnings press release, which is available on our website and furnished to the Securities and Exchange Commission.
.

5. Product
MarketExecution
Building a Great Company
5

6. 1. Salesforce productivity initiatives
 Bookings increased each month during 3Q15
 September bookings the highest level in six months
2. Proactive churn mitigation and account management
 Churn declined 30 bps in 3Q15 and we expect additional improvement in 4Q15
3. Targeted data center utilization
 Company-controlled data center utilization increased 100 bps to 55% in 3Q15
4. Channel programs – sales force multiplier
 New channel partner programs and incentives are showing positive signs with channel
bookings increasing each month during 3Q15
5. Lead generation and targeted marketing initiatives
 Targeted lead generation programs for key performance-centric verticals delivering positive
results with marketing qualified leads higher each month during 3Q15
6. New/enhanced product and service offerings
 Steadily increasing sales funnel for Managed Internet Routing Optimizer (MIRO) Controller.
AgileSERVER 2.0 launch delivers on our “performance without compromise” value proposition
 Recent strategic partnership with Akamai to deliver cloud security solutions to Internap’s high-
performance customers beginning to show results
Focus on Growth
6
Growth Initiatives Yielding Positive Results

7. Financial Summary: Revenue
Revenue
7
$ in millions.
• Consolidated revenue decreased 7% Y/Y and 3% Q/Q
• Data center services revenue decreased 5% Y/Y and 1% Q/Q
• Strategic mix shift to data center services  75% of consolidated revenue
• IP services revenue decreased 14% Y/Y and 6% Q/Q
• Churn mitigation program yielding positive results
Incremental Progress
Revenue Churn
Data Center Churn 2.1% 1.8% 1.7% 3.0% 2.3% 2.1% 2.4% 2.1%
IP Revenue Churn 1.6% 1.2% 1.2% 1.8% 1.4% 1.9% 1.8% 1.6%
Total Revenue Churn 1.9% 1.6% 1.6% 2.7% 2.0% 2.1% 2.3% 2.0%
67%
71% 73% 73% 73% 73% 74% 75%
33%
29% 27% 27% 27% 27% 26% 25%
4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15
IP ServicesData Center Services
$82.0 $84.1 $84.7 $84.3 $80.8 $80.4
$78.3
$74.1

8. 8
Strategic Mix Shift Engine for Growth
• 17% 3-year adj. EBITDA CAGR
• Adjusted EBITDA margin expanded
690 basis points over the same time-
frame
Solid Adj. EBITDA Growth and
Margin Expansion
• Core decreased 3% Y/Y and 1% Q/Q
• Core revenue represents 83% of data
center services revenue and 62% of
consolidated revenue
• 19% 3-year revenue CAGR
Core Data Center ServicesFavorable Revenue Mix
Profitable Growth
$ in millions. Legacy revenue defined as IP services and partner colocation data center services. CAGR is compound annual growth rate.
$39.4
$29.9$28.7
$48.4
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
4Q14
1Q15
2Q15
3Q15
Core Legacy
$12.5
$19.8
18.3%
25.2%
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
4Q14
1Q15
2Q15
3Q15
Adj. EBITDA Margin

9. Normalized Core Data Center Services
Normalized Core Data Center Services Revenue
9
$ in millions.
• Excluding one unique customer churn event where the customer was
acquired by a large entity and moved its IT infrastructure in-house
• Normalized core data center services revenue increased 1.6% Q/Q
• Growth initiatives yielding positive results
Continued Sequential Growth
$47.9
$48.9
$49.7
-
$48.7 $48.4
1Q15 Normalized Core Revenue 2Q15 Normalized Core Revenue 3Q15 Normalized Core Revenue
$0.2
Churn
$1.3
Churn

10. $ in millions.
Data Center Services Segment Profit and
Segment Margin
10
• Data center segment profit decreased 1% Y/Y and 4% Q/Q
• Data center segment margin expanded 220 basis points Y/Y and declined 180 basis points Q/Q
• Core segment profit flat Y/Y and decreased 4% Q/Q
• Core segment margin expanded 210 basis points Y/Y and decreased 200 basis points Q/Q
• Higher seasonal power costs for 3Q15 impacted segment margin Q/Q
Core Data Center Services Engine for Long-Term Profitable Growth
$25.6
$32.4
$34.8 $33.9
$35.3 $34.9 $35.1 $33.5
51.5%
55.6%
56.7%
55.0%
57.6%
58.9% 59.0%
57.2%59.2%
63.4%
64.8%
62.3%
64.2%
65.6%
66.4%
64.4%
4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15
Partner Colo Segment Profit Core Segment Profit
DC Segment Margin % Core Segment Margin %

11. IP Services Segment Profit and Segment Margin
11
IP Services Segment Profit
Solid Profitability and Cash Generation
$ in millions.
• IP segment profit decreased 18% Y/Y and 10% Q/Q
• IP segment margin decreased 250 basis points Y/Y and 240 basis points Q/Q
• Component of competitive differentiation for high-performance, hybrid Internet
infrastructure service offerings
$14.8 $13.8
$12.7 $13.6 $13.5
$12.6 $12.4 $11.1
60.7%
58.3%
55.9%
59.0% 58.7%
58.1%
58.9%
56.5%
4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15
Segment Margin %

12. 12
Financial Summary: Adjusted EBITDA and Adjusted
EBITDA Margin
Adjusted EBITDA*
$ in millions.
• Adjusted EBITDA flat Y/Y and increased 3% Q/Q
• Adjusted EBITDA margin expanded 190 bps Y/Y and 140 bps Q/Q
• Positive results reflect impact of favorable product mix shift
• Tight operational controls and positive operating leverage support margin expansion
Solid Adjusted EBITDA Results
* 3Q15 adjusted EBITDA and adjusted EBITDA margin includes executive transition costs of $0.3M.
$15.7
$17.8
$18.5
$19.7
$22.7
$17.9
$19.1 $19.8
21.1%
21.7% 22.0%
23.3%
27.0%
22.2%
23.8%
25.2%
4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15
Adj. EBITDA Margin

13. Financial Review: Cash Flow and Balance Sheet
13
Levered Free Cash Flow
3Q15 2Q15 3Q14
Cash & Cash Equivalents $18.3 $16.4 $25.5
Less: Debt (net of discount) 318.8 315.2 294.4
Less: Capital Leases 57.5 56.9 60.2
Equals: Net Debt $(358.0) $(355.7) $(329.1)
Net Debt to Adj. EBITDA (LQA)* 4.5x 4.7x 4.2x
Balance Sheet Summary
$ in millions * LQA = Last Quarter Annualized.
$(20.3)
$(13.5)
$(0.7) $(0.2)
$(9.2)
$(4.2)
$(3.3)
$2.2
4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15
Adj. EBITDA $15.7 $17.8 $18.5 $19.7 $22.7 $17.9 $19.1 $19.8
Less: Capex $(31.4) $(25.5) $(13.1) $(13.7) $(25.1) $(15.7) $(15.8) $(10.9)
Less: Cash Interest Exp. $(4.6) $(5.8) $(6.1) $(6.2) $(6.8) $(6.4) $(6.6) $(6.7)
Equals: Levered FCF $(20.3) $(13.5) $(0.7) $(0.2) $(9.2) $(4.2) $(3.3) $2.2
$(40.0)
$(30.0)
$(20.0)
$(10.0)
$-
$10.0
$20.0
$30.0
4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

14. Financial Guidance
14
Revenue
Adjusted EBITDA
$320 - $325
$80 - $85
Range
(in millions)
Financial guidance constitutes forward-looking statements which involve risks and uncertainties. Please refer to slide 2 for more information
regarding forward-looking statements.
Capital Expenditures $60 - $70
$80.5 - $85.5
$23.2 - $28.2
$17.6 - $27.6
2015 4Q15
(Implied)

15. 15
3Q15 TO 4Q15 Adjusted EBITDA Bridge
2Q13
$ in millions.
$19.8
$23.2- $28.7
$0.5-$3.0
$0.5-$3.0
$1.5-$2.0
$0.4-$0.9
3Q15 Adj. EBITDA Growth
Initiatives
MIRO C COGS Savings Opex Benefits 4Q15 Adj. EBITDA
Mid-Point

16. Bare-metal IaaS: AgileSERVER 2.0 Highlights
High-performance IaaS
Achieve peak performance and scalability for
mission-critical workloads with bare-metal servers
Infrastructure Elasticity
Instantly provision servers on demand via
API or portal to meet changing capacity needs
Superior Price to Performance
Gain higher price-to-performance ratio to virtual
public cloud for many data-intensive workloads

Secure, Flexible Networking
Up to 10 VLANs and NIC bonding for
network isolation, security and redundancy
Hybrid-ready Environments
Mix & match virtual and bare-metal
instances for maximum application flexibility
16
AgileSERVER 2.0
are powered by
OpenStack to
leverage community-
driven development,
portability and
interoperability with
other clouds and a
burgeoning catalog
of native applications
and resources.




The Performance of Bare Metal with the Agility of the Cloud

17. 17
Customer Need and Context
“AWS Graduate” Leverages Bare-Metal to Meet
Performance Demands of Data-Intensive Workloads
a leading global mobile advertising platform
Internap Solution
IP & CDN
Bare-Metal
Servers
Ability to scale-out application globally and
serve more than 50 billion ad requests daily
Performance IPTM ensures
low latency with built-in
redundancy
Dedicated CPU and high disk
I/O provide consistent
performance
Result
Customer achieved performance and scale at a cost
savings of up to 5x versus a virtualized environment
Meet high-performance needs to serve ads
within 100 milliseconds of initial request
Non Volatile Memory (NVM)
storage delivers faster
processing
Transitioned to Internap after using AWS
Flexibility to expand globally without
sacrificing performance

18. Results:
• Adjusted EBITDA increased 3% and adjusted EBITDA margin expanded 140 bps Q/Q
• Generated positive levered free cash flow
• Bookings and churn trending favorably
Looking Forward – Return to Growth:
• Accelerate profitable growth through the introduction and customer adoption of new
performance-based product offerings and greatly improved execution
– Sales productivity enhancements and churn mitigation initiatives
– Investments in channel program (sales force multiplier)
– Leverage multiple routes to market to increase utilization in company-controlled data
center capacity
– Targeted lead generation and marketing programs performance-centric verticals
– Favorable product mix shift of core data center services
Growth Initiatives Drive Profitability
3Q15 Summary
18