Inphi Corporate UpdateOctober 31, 2017

Inphi Moves Big Data Faster

2Inphi Proprietary

This presentation is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful. The notes and the shares of Inphi Corporation common stock issuable upon conversion of the notes, if any, will not be registered under the Securities Act of 1933, as amended (the “Act”) or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Act and applicable state laws. Any purchaser of such securities will be deemed to have made certain representations and acknowledgments, including, without limitation, that the purchaser is a “qualified institutional buyer” as defined in Rule 144A under the Act.

This presentation includes forward-looking statements relating to matters that are not historical facts, including, without limitation, statements regarding the Company’s Financial Results and Business Outlook, Inphi’s short and long term growth strategies, trends in IP traffic and technology adoption, the future sizes and anticipated growth of the networking infrastructure, cloud computing and data center markets, including geographic and market segment outlooks. In some cases, such forward-looking statements are identified by words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “strive,” “future,” “intend” and similar expressions. Although Inphi’s management believes that the expectations reflected inthe forward-looking statements are reasonable, such statements involve known and unknown risks, uncertainties and other factors that may cause Inphi’s actual results to be different from any future results expressed or implied by these statements, including the risks and uncertainties described in the preliminary offering memorandum relating to the proposed offering report, and other filings with the U.S. Securities and Exchange Commission made from time to time. We caution you that no forward-looking statement is a guarantee of future performance, and you should not place undue reliance on these forward-looking statements which reflect the view of Inphi’s management only as of the date of this presentation. We assume no obligation to, and expressly disclaim any obligation to, update any forward-looking statements contained in this presentation as a result of new information or future events or developments.

In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared inaccordance with U.S. GAAP. See the Appendix for a reconciliation between each non-GAAP measure and the most comparable U.S. GAAP measure.

Safe Harbor Summary

3Inphi Proprietary

Invest for growth with 75% engineering

Non-GAAP Revenue ($M)*

631 patents: high-speed analog and package design

Serve cloud, enterprise and service provider markets

Focus on high-speed data movement interconnects

Notes: Company data per human resources & legal reports 9/2017 and finance reports 10/31/2017 *Pro-forma, Non-GAAP revenue and EPS adjusted for continued operations of the sale of the memory business

Differentiate with broadband linear amplification and higher modulation opto-electronic solutions

Core competence in high-speed analog, DSP and optics

Inphi Leads in Optical and Networking Physical Layer

$35 $43

$100

$193

$266 $263

2012 2013 2014 2015 2016 YTDQ3'17

4Inphi Proprietary

Inphi HQ:Santa Clara, CA

Inphi Global Locations Support Customers and Attract Talent

Design CentersUSA: Irvine, Santa Clara,

Westlake VillageCanada: Ottawa, Vancouver

Argentina: CordobaUnited Kingdom: Northampton

Europe: HanoverAsia-Pacific: Singapore

Sales & SupportUSA: Austin, Chicago, Folsom,

Kansas City, Raleigh Santa Clara, Westlake Village

Europe: Milan, MunichAsia-Pacific: Beijing, Hsin-Chu,

Shanghai, Shenzhen, Wuhan, Tokyo

OperationsUSA: Santa Clara,

Westlake Village

Asia-Pacific: Malaysia, Singapore, Taiwan

Worldwide Offices in North America, Asia-Pacific, Europe

5Inphi Proprietary

Data and Traffic Are Growing Exponentially

Data and Traffic

Explosion

Notes1. Smartphone users as of 20152. CAGR calculated from 2014 – 2019, for sources refer the references section3. Social Media users CAGR 2010-2020 estimate

▲44%Cisco Global Cloud Index

Video

Social

▲23%IDC

Smartphone Users

Cisco IoT White Paper

▲107%

IDC

▲10%

Cloud Services IoT

Cisco Visual Networking Index

▲33%Nokono

▲ 23%

Big Data

eMarketer

▲12%e-Commerce

Trends, Dec. 2015

6Inphi Proprietary

New Trends Fuel Further Data and Traffic Growth

Chatbots

5G Wireless

Secure Cloud Autonomous Vehicles

Mixed, Virtual, Augmented Reality

Artificial Intelligence

New Media

New End User Trends, Oct. 2016

Data and Traffic

Explosion

7Inphi Proprietary

Cloud Hardware and Software LayerAggregation Network

Connecting Data Centers

“The Data Center is the Computer™”

“The Data Center is the Computer™”

Cloud Hardware and Software LayerAggregation Network

“The Cloud is the Network™”

DCI Long Haul >600kmDCI Metro 100km-600kmDCI Edge 2km-100km

Inside DC500m-2km

Inphi Solves Data Movement Between & Inside Data Centers

8Inphi Proprietary

Data MovementData Manipulation

Processor, GPU, NIC, Switch Optical, Networking

Analog, Mixed Signal, DSPDigital

Inphi Leads in Data Movement Interconnects

9Inphi Proprietary

Long Haul / MetroData Movement Around the Globe

Between Data CentersData Movement Between Data Centers

Inside Data CentersData Movement Inside Data Centers

OpticalAmplifier

CoherentDSP CDR/PHY PAM

DWDM Optical Module

Reference DesignSilicon

PhotonicsGearbox

OpticalDriver

Inphi Leads in Data Movement Interconnects

10Inphi Proprietary

Large Total Addressable Market (TAM)

Note: 2016 data from Cignal AI, Crehan Research, LightCounting, HIS and Inphi Estimates

90 Million 10G/40G/100G Ports

Data Centers Cloud EnterpriseService Providers

Long Haul / Metro Between Data Centers Inside Data Centers

$3 Billion Interconnect TAM in 2019

11Inphi Proprietary

Provide Complete Component Solution for Optical Platform

Long Haul / Metro Data Center

Partner Optics

TiA

Driver

High Performance Coherent DSP

SiPho

TiA

Driver

Low Power PAM DSP

Partner Optics

PartnersInphi *

12Inphi Proprietary

201920182017201620152013 2014

Building an “Annuity” Infrastructure Business

Transimpedence Amplifier (TiA)

Optical PHY: Gearbox, CDR, PAM

Driver

COLORZ®

Coherent DSP

13Inphi Proprietary

Data Movement Interconnect Market Has Multiple Growth Vectors Ahead

2016

2018

2017

North AmericaTelecom Operator

200G Metro

400G LH/Metro/Client

100G Long Haul,100G Client CFP2

Cloud,MSDCs

100GInside DC

COLORZ, 100GBetween DC

200/400G,Inside, Between DC

EnterpriseData Centers

100G

40G

ChinaTelecom Operator

ProvincialTier 2/3 Cities,

100G CFP2-DCO

200G Metro,5G Wireless

NationalBackbone,

100G Client CFP

14Inphi Proprietary

Inphi Strong Leadership from Comms/Optical

John Edmunds SVP, CFO

Loi Nguyen Founder, SVP, Optical Interconnect

Siddharth Sheth SVP, Networking Interconnect

Lawrence Tse SVP, Engineering

Charlie Roach SVP, Worldwide Sales

Radha Nagarajan CTO, Optical Interconnect

Sudeep Bhoja CTO, Networking Interconnect

Ford Tamer President and CEO

Ron Torten SVP, Operations and IT

Nariman Yousefi SVP, Coherent DSP

Oscar Agazzi VP Engineering, Coherent DSP

15Inphi Proprietary

Inphi Recognized for Excellence

New Emerging

Technology Supplier

2015

ECN Impact AwardsNeoPhotonics

Supplier of the Year2015

SumitomoAwards of Excellence Huawei

Best Quality Company

2015

FiberHomeCore Partner

2015

Cisco

LightWaveInnovation Awards

Sumitomo Electronics Device Innovation (SEDI)

20152013Best Partner

Awards2013-2015

2014Quad Linear

Driver

GSANeedham Favorite

SemiconductorCompany

2015

DeloitteFast 500

Technology Company

2016

2016PAM4

2017COLORZ 2016

PAM4

2017400GbE PAM 4

Platform

FujitsuTechnical

Advancement2017

Excellence in Emerging

Technology 2017

2017COLORZ

16Inphi Proprietary

Innovation Drives Customer Success

200140G Differential Driver

Modulator Driver+

40G TIA

200928G Coherent TIA

+28 Gbps Differential Modulator Driver

201228G CMOS SERDES

+32G Linear

Modulator Driver

201445G Linear

Modulator Driver +

45G Coherent TIA +

PAM

2016COLORZ for 80km DWDM

+SiPho Platform for 100G Data Center

+Shipped 1M 100G

Coherent Amplifiers & Drivers

+64G Coherent TIA

+Lowest Power CDR

+400G CFP8 Platform

(28nm PAM DSP / Driver / TIA)

2015Smallest

Form Factor+

SMT Linear Driver+

PAM 4

201764G Coherent Driver

+28G EML Linear Driver

+PolarisTM Platform

(16nm PAM DSP / Driver / TiA)+

Low power Coherent DSP for Metro and Long Haul

+COLORZ-Lite for Campus &

Data Center Interconnects+

VegaTM DSP16nm Retimer &

Gearbox for LineCards

Long Haul / Metro:

The Cloud is the NetworkTM

18Inphi Proprietary

101157

273 301376

493

615

800

2014 2015 2016 2017 2018 2019 2020 2021

100G/200G Adoption is Accelerating in Long Haul & Metro

Source: Cignal AI and Company Estimates September 2017

100G & 200G Long Haul & Metro Coherent Ports (KU Ports)September 2017

34% CAGR 2014-2021

19Inphi Proprietary

0%

20%

40%

60%

80%

100%

2012 2013 2014 2015 2016 2017 2018

Inphi Leads Transition from Limiting to Linear

10G 40G 100G 200G 400G 1T

TIA

Driver

Linear

Linear

Limiting

Limiting

Estimated market share of Linear Drivers for 100G – 1T

Limiting

20Inphi Proprietary

Industry Leading Linear Coherent Solutions

100G/200G 400G/600G

Next-Gen 45/64GBaud Linear Amplifier32GBaud Linear Amplifier

32GBaud Linear Driver 45/64GBaud Linear Driver

Most Tier 1 OEMs use Inphi TiAs and Drivers

Inphi regarded as “gold standard” for quality

Inphi is first to market with next generation 64G linear amplifier and driver solutions

21Inphi Proprietary

0.0

1.0

2.0

3.0

2010 2011 2012 2013 2014 2015 2016

2.7M Coherent Units Shipped > All Competitors Combined

Industry First 100G Linear Driver

Industry Smallest SMT 100G Linear Driver

Industry First 100G Linear Amplifier

Cumulative Shipments (M Units)

22Inphi Proprietary

Enter Metro

Take share with Linear

Ramp new 45 and 64 Gbaud products

Grow with both module and line card customers

Support partner products: SiPho, CFP DCO, CFP2 ACO

Ramp new modulations: 16QAM and 64QAM

Growing Optical Interconnects Between Data Centers

Ports grow 20%, led by CFP-DCO

Between Data Centers:

Coherent DSP Solutions

24Inphi Proprietary

Low PowerHigh Performance

Long Reach

Fast Time-to-market

Competitive Cost

Dedicated Customer Support

Best Quality

Note: 1. Wireless subscriptions and social media users are as of 20152. CAGR calculated from 2014 – 2019, for sources refer the

references section

Complete Platform to Enable Customer Success

Driver

SiPhoor

Partner Optics

TiA

Optical Platform

Optical PHY

Coherent DSP

25Inphi Proprietary

M200 is Ramping to Production

Highest performance

16nm SoC 100G & 200G

Low power technologyEnables

CFP DCOCFP2 DCO Line cards

Framer & Encryption Integrated

26Inphi Proprietary

Inphi Supports Discrete, DCO and ACO Customers

Comprehensive product offering:― Coherent DSP― Inphi TiA― Driver

Line Card - Discrete

Modulator

Hybrid Optics

DSP Laser

Modulator

Hybrid Optics

DSP Laser

Modulator

Hybrid Optics

DSP Laser

Modulator

Hybrid Optics

Laser

ACO modules

Modulator

Hybrid Optics

DSP Laser

Modulator

Hybrid Optics

DSP Laser

DCO modules

TIA

TIA

TIA

TIATIA

TIA

Driver

Driver

Driver

Driver

Driver

Driver

DSP

27Inphi Proprietary

Inphi Has Full End-to-End Capability for Customer Success:High-Speed Analog, DSP, Layout, Firmware, Software

ManufacturingSystem SupportArchitecture, IP& Chip Design

State of the art analog

Innovative DSP/FEC technology

World Class IC / backend

Direct relationship with fab, assembly, test partners

In house production test capability

Firmware/Software

Quality evaluation boards

Advanced Optical lab

Between Data Centers:

DCI Edge Solutions

29Inphi Proprietary

Data Center Moving Towards Distributed Architecture

Next-gen data centers build out is happening in metro

Distributed data center enables virtual mega data centers to be built in metro where space and power are limited

Major architectural shift in connecting distributed data centers with cost effective, low power 100G DWDM solutions

Mega Data CenterGlobal

Distributed Data Center Metro

30Inphi Proprietary

Cloud Hardware and Software LayerAggregation Network

Connecting Data Centers

“The Data Center is the Computer™”

“The Data Center is the Computer™”

Cloud Hardware and Software LayerAggregation Network

“The Cloud is the Network™” 100Gb/s 80km4.5W

ColorZ Delivers 100G QSFP28 for 80km Data Center Interconnect

31Inphi Proprietary

COLORZ Delivers Complete Solution for Time-to-Market

SiPhoOptics

LinearTiA,

Driver

PAM:DSP,ADC

ValidatedDesign

100G, QSFP28,

80km

LowerPower

LowerCost

100GSpeed

32Inphi Proprietary

ECOC 2017 ColorZ-Lite Live Demonstration DWDM Campus Connectivity

20km

32 Inphi COLORZ-Lite DWDM PAM4 QSFP28 100GbE Transceivers

7160Featuring 3.2T of aggregate East-West Traffic between 100GbE Switches

across 20km of fiber via II-VI Cost Optimized Open Line System

20km

7160

33Inphi Proprietary

ColorZ-Lite Delivers Compelling Values for Campus

Solve your 10-20km campus connectivity fiber exhaust challenges by using DWDM 100G ColorZ-Lite

Lowest cost solutions to connect buildings within a campus due to fiber exhaust

Lowest cost solutions to connect buildings within a campus in regions with high fiber rental cost

100G Switch 100G SwitchMux DemuxAmplifier

20km Fiber

DWDM QSFP28 DWDM QSFP28

34Inphi Proprietary 34Inphi Proprietary and Confidential

ColorZ Eco-System

ColorZ

Open Line System (OLS)Partners

Switch/RouterPartners

Inside Data Centers:

The Data Center is the ComputerTM

36Inphi Proprietary

“Fiber PHY” Growing Rapidly in Data Center, SMF

Source: “High Speed Ethernet Optics,” LightCounting, October, 2017

37Inphi Proprietary

“Fiber PHY” Growing Rapidly in Data Center, MMF

Source: “High Speed Ethernet Optics,” LightCounting, October, 2017

38Inphi Proprietary

Data Center Transition to Fiber, DAC PHYs

Source: Inphi Estimates, Crehan Research, 2016

1G 10G 25G 40G 50G 100G 400G

BASE-TFiber / DAC

0%

100%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Estimated Capture Rate by Fiber/DAC into BASE-T PHY Share

BASE-T PHY

39Inphi Proprietary

Distances, Speeds Drive Optics/Electrical Transition

Longer Distances = Single Mode FiberCost Effective DSP-based PAM Optical Interconnects

Source: Corning

Mega Data Center

500m-2kmdistances

40Inphi Proprietary

Industry Leading NRZ and PAM Optical PHY Solutions

Enterprise Service Provider Data Center

Server Line Card

CFP CFP2/8 QSFP SFP OSFP andQSFP-DD

nx10G PHY

100G Gearbox

nx25G CDR

nx50G PAM

nx100G PAM

41Inphi Proprietary

2012CFP 12W-24W

2014CFP2 12W-14W

2015 onwardsQSFP 3.5W

Roadmap to Lower Cost, Higher Density

400G Inflection

Lower Power Lower CostHigher Density

2012N x 10G SFP

Enterprise Server SOC Inflection2015

N x 10/25G SFP

Router

Switch

Server

2015 onwardsQSFP 3.5W

400G Inflection

QSFP DD

PAM4

OSFP

CFP8

QSFP DD

PAM4

OSFP

42Inphi Proprietary

Ramp 10G/40G in servers with Broadwell & Skylake generation

50/200/400 PAM4 growth driven by introduction of PAM4 based switches

Grow 100G NRZ CDR/TiA/Driver for QSFP28

Address both single- and multi-mode fiber

Partner with VCSEL, DML, EML and SiPho optics

Growing Networking InterconnectsInside Data Centers and for Service Providers

Ports grow 35% for 10G/40G, 300% for 100G

Thank You