1 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. ©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 May 2015 NASDAQ: CYRN

2 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. 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 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 and prospectus supplement dated May 15, 2015 and prospectus dated July 3, 2014 filed pursuant to Rule 424(b)(2), which are available through © 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 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. The Best Security Data Enables the Best Protection CYREN is leveraging its unique position as a proven, trusted provider of cyber intelligence to deliver the industry’s best security.

4 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. CYREN Snapshot  U.S. Headquarters / / Offices in Europe, Middle East and APAC  190 employees  Worldwide direct sales and channel distribution  19 data centers worldwide / / fault- tolerant network  24x7x365 support  GlobalView™ Cloud Platform processing 17 billion transactions per day from 600+ million endpoints  200+ global partners in 190 countries Company FactsFinancials Representative Global Partners  2014 revenue $31.9M (GAAP)  9-year revenue CAGR 29%  100% recurring SaaS revenues  2014 customers have generated $169.9M in lifetime revenue value  $8.5M cash on balance sheet

5 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. The CYREN Cloud by the Numbers

6 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. APPLICATION Policy, Enforcement, Logging, Alerting, Reporting ANALYSIS RPD, Heuristics, Signature, Human, etc. THREAT DATA 17 BILLION transactions per day ENDPOINTS 500 THOUSAND points of presence, protecting 600 MILLION users SECURITY Applied Cyber Intelligence INSIGHT Cyber Intelligence Pre-CompromiseCompromise Post-Compromise ReconnaissanceWeaponization Delivery ExploitationInstallation Command & Control Actions on Target Helping Enterprises Disrupt the Cyber Kill Chain CYREN Delivers Applied Cyber Intelligence

7 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. CYREN WebSecurity CYREN WebSecurity for Public WiFi CYREN Security CYREN Cyber Threat Protection Cyber Intelligence Suite Malicious IP Intelligence Feed Malware Intelligence Feed Phishing Intelligence Feed Malware Attack Detection AntiMalware URL Filtering Mobile Security IP Reputation AntiSpam Outbound AntiSpam Malware Attack Detection Security Suite CYREN Product Portfolio

8 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. CYREN Cloud Platform Solutions Global threat analysis, behavioral, and dynamic reputation scoring is only available via the Cloud. Cloud-driven security solution using full content inspection, including SSL traffic, to better protect employees from rapidly evolving cyber threats Cyber security solutions responsive to advanced malware and other cyber attacks that routinely bypass conventional signature- based defenses Our Security Cloud arms organizations with the intelligence needed to prevent and handle breaches. CyberThreat Protection

9 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. © 2014 CYREN Confidential and Proprietary 9 From multiple appliances by multiple vendors at every gateway To a global Cloud security platform from the industry leader Load Balancer Edge Firewall Server–Side SSL Tunnel Aggregation firewall Client - side SSL tunnel Sandbox SSL Web Filter Logfiles Flow Management Content Inspection SSL PAC File SSL We Are Disrupting Web Security Today

10 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. © 2014 CYREN Confidential and Proprietary 10 Mobile App Consumer Cloud Private Cloud Blocking Threats Enforcing Business Policy Cloud App Public Cloud Analyzing Web Traffic Applying Cyber Intelligence Bot Exploits APT Malware RoamingHomeProductionIndustrial Internet of Things BranchMobile HQRemote Office Protection for Every Business or Technology Model

11 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. Cloud security is already large/high growth and will eventually consume the entire security category Cloud Security $14B TAM 20% CAGR Traditional Security $35B TAM Market Opportunity and Comps

12 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. Revenue Breakdown 2014 Revenue By Contract Sign Date ($ in millions - GAAP) 2014 customers have delivered $169.9M in lifetime revenue

13 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. Balance Sheet ItemMarch 31, 2015March 31, 2014 Cash$8,489$2,327 Current Assets$14,044$10,079 Credit Line$4,543$4,297 Deferred Revenue$4,387$6,346 Current Liabilities$13,645$15,043 Shareholder’s Equity$27,960$26,797 Shares Outstanding31,39826,519 All numbers in thousands (000s) Balance Sheet Review

14 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. Moving Upstream in the Cybersecurity Value Chain Embedded SDK Solutions ASP $ $1.00 / user / year  Leverages all technology, data analytics and applied cyber intelligence assets to largest enterprise customer markets  Positions CYREN toward the top of the security value chain  Customer economics up to 100X greater than embedded OEM model  Data subscription model produces 100% recurring revenue stream  Embedded global OEM partners deliver stable revenue base and valuable data  High customer stickiness; average customer contract length > 6 years Cyber Intelligence Suite ASP $ $5.00 / user / year CYREN WebSecurity ASP $ $30.00 / user / year CWS + Cybersecurity ASP $ $60.00 / user / year TAM $200M+ TAM $1B+ TAM $10B+ TAM $30B+  Cyber intelligence solutions leverage high value OEM security data  Intelligence feeds/analytics expand addressable market into enterprise  CWS offers pure play SaaS solution model to enterprise customers  Includes all benefits of embedded SDKs plus cyber intelligence solutions  Customer economics 20-50X higher than embedded OEM model

15 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. ENDPOINTS 500 Thousand global points of presence, protecting 600 Million users DATA 17 Billion transactions per day ANALYSIS Recurrent Pattern Detection, Sandbox Array, Heuristics, Signature, Human APPLICATION Policy, Enforcement, Alerting, Logging, Reporting OUR Cloud Platform OUR Real-Time CYBER Intelligence OUR Security Analytics OUR Detection Engines Why CYREN?

16 ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. You can also find us here: twitter.com/cyreninc linkedin.com/company/cyren ©2015. CYREN Ltd. All Rights Reserved. Proprietary and Confidential. Thank You