Nirav Shah, VP of Products & Solutions

Pat Vitalone, Director of Products & Solutions

Q1 2023
The Evolution of Network Firewall

NGFW DPI SD-WAN

?
Stateful
© Fortinet Inc. All Rights Reserved. 2
Trends Driving Firewall Evolution

Cloud Distributed Internet

• SaaS & IaaS proliferation • Hybrid work permanent • Corporate Backbone
• Business tied to IT • Low costs broadband • Uptime, SLAs & Cyber
• Quality of Experience • OT & IoT • Zero visibility & control

© Fortinet Inc. All Rights Reserved. 3

Challenges for Enterprise IT

Threats Complexity Visibility

67% 99% 94%

of organizations were of NGFW breaches of web traffic is
victim to ransomware are misconfigurations encrypted as of
2
attacks 1 through 2025 2023 3

FortiGuard Labs Gartner Google

1: Fortinet, Cyber Threat Predictions for 2023: An Annual Perspective by FortiGuard Labs, November 4, 2022
2: Gartner, Control Network Security Complexity, Inefficiencies©and Security
Fortinet Failures
Inc. All Rights by Minimizing Firewall Diversity, March 27, 2020
Reserved. 4
3: Google, Google Transparency Report, HTTPS Encryption on the Web, Jan 28, 2023
Securing people, devices, and data everywhere.

For over 20 years, Fortinet has been a driving force in the

evolution of cybersecurity and the convergence of networking
and security. Our security solutions are among the most
deployed, most patented, and most validated in the industry.

Global Customer Base 2021 Billings Market Capitalization Founded: October 2000

600,000+ $4.1B+ $38.3B Founded by: Ken Xie and Michael Xie
Customers (as of Dec 31, 2021) (as of Sept 30, 2022)
Headquarters: Sunnyvale, CA
Fortinet IPO (FTNT): November 2009

Broad, Integrated Portfolio of Strong Analyst Validation Vertical Integration

Listed in both: NASDAQ 100 and S&P 500

50+ 33 $1B+ Member of: Dow Jones Sustainability Index

Enterprise Cybersecurity Enterprise Analyst Report Investment in ASIC Security Investment Grade Rating: BBB+ Baa1
Products Inclusions Design & Development

© Fortinet Inc. All Rights Reserved. 5

Investing in Innovation for Our Customers

Strong investment in our Investment in scale of threat Organic R&D investment

supply chain intelligence and AI/ML across our portfolio

~50% 200B 1,285

of All Next-Gen Firewall Shipments Threat Events Neutralized Daily Global Industry Patents

Global Firewall Shipments Advanced Threats – Global CVE U.S. Patents

60.0%

50.0%
200000
180000
925
160000
40.0% 140000 Palo Alto Networks

120000
30.0% 100000 Zscaler
80000
20.0% 60000
Check Point
40000
10.0%
20000
0 Crowdstrike
0.0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q3
1990- 2000- 2002- 2004- 2006- 2008- 2010- 2012- 2015- 2018-
2022 1999 2001 2003 2005 2007 2009 2011 2014 2017 2019 2021 2022 2023+ 0 100 200 300 400 500 600 700 800 900 1000

Source: IDC, Worldwide Security Appliance Tracker, December 2022 (based on shipments of
UTM appliances) Source: U.S. Patent Office, as of September 30, 2022

© Fortinet Inc. All Rights Reserved. 6

Fortinet Secures Over Half a Million
Organizations Worldwide
Fortinet secures over half a million enterprises, service providers,
and government organizations around the world.

© Fortinet Inc. All Rights Reserved. 7

 A Recognized Leader for Network Firewall
Gartner® Evaluation for Network Firewall
Dec. 2022 Gartner® Magic Quadrant™
for Network Firewalls

Fortinet Recognized as a
Leader positioned Highest in
Ability to Execute.

Marks 13th time included in

this Magic Quadrant™

Gartner, Magic Quadrant for Network Firewalls, Rajpreet Kaur, Adam Hils, Tom Lintemuth, 19 December 2022. Gartner, Magic Quadrant for SD-WAN, Jonathan Forrest, Naresh Singh, Andrew Lerner, Karen Brown, 12 September 2022. GARTNER is a registered trademarks and service
mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in
the context of the entire document. The Gartner document is available upon request from Fortinet. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or
other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or
fitness for a particular purpose.

© Fortinet Inc. All Rights Reserved. 8

 A Recognized Leader Across Top Analyst Content
Gartner® and Forrester Evaluations for Network Firewall
Dec. 2022 Gartner® Magic Jan. 2022 Gartner® Critical Oct. 2022 The Forrester
Quadrant™ for Network Firewalls Capabilities for Network Firewalls Wave™: Enterprise Firewalls

Fortinet Recognized as a Leader Fortinet is ranked Highest for the Fortinet Named a Leader in the
positioned Highest in Ability to Enterprise Data Center and the Forrester Wave™
Execute. Marks 13th time included in Distributed Enterprise Use Cases
this Magic Quadrant™

Gartner, Magic Quadrant for Network Firewalls, Rajpreet Kaur, Adam Hils, Tom Lintemuth, 19 December 2022. Gartner, Magic Quadrant for SD-WAN, Jonathan Forrest, Naresh Singh, Andrew Lerner, Karen Brown, 12 September 2022. GARTNER is a registered trademarks and service
mark, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in
the context of the entire document. The Gartner document is available upon request from Fortinet. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or
other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or
fitness for a particular purpose.

The Forrester Wave™ is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave™ are trademarks of Forrester Research, Inc. The Forrester Wave™ is a graphical representation of Forrester’s call on a market and is plotted using a detailed spreadsheet with exposed scores,
weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave™. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change.

© Fortinet Inc. All Rights Reserved. 9

Predictions for 2023
That will elevate Network Firewalls

© Fortinet Inc. All Rights Reserved. 10

Prediction 1: Convergence Spreads Across Industries

Reducing Complexity
Standardize Security

Minimize Supply Chain

Reduce Disruptions by 66%
4

Secure Direct Internet Access

Does not need a victim

4: Gartner, “To Reduce Disruptions, Make Your Supply Chain a Smaller Target”
© Fortinet Inc. All Rights Reserved. 11
Convergence of Networking & Security

FortiOS Everywhere

Convergence
Benefits
Enterprise Cybersecurity
Networking Services • Reduced complexity
Lacks Awareness Software Delivers eliminating multiple products
Across the Network Network Awareness
Secure • Efficient operations with
Switch WiFi
Networking Application Content
single console
Network Firewall
Secure SD-WAN
Universal ZTNA • End-to-end digital experience
5G Router Location Identity
SASE measurement
NAC
Secure AP • Cost savings from product
Secure Switch and vendor reduction

© Fortinet Inc. All Rights Reserved. 12

Centralized Management
Implementing better automation and visibility across Enterprise IT

• Leverage Machine Learning

• All in a single pane of glass
• Automate NOC/SOC functions
• A Complete Security Fabric

© Fortinet Inc. All Rights Reserved. 13

Prediction 2: Cyber Disruptions are more Devastating

Edge Attacks go Mainstream

93% experienced an edge
device intrusion 5

A Catastrophe is Coming
91% Global Leaders Agree 6

Cyber Skills Gap

More than 1/3 of roles unfilled
7

5: Fortinet, Cyber Threat Predictions for 2023: An Annual Perspective by FortiGuard Labs, November 4, 2022
6: World Economic Forum, “Systemic Cybersecurity Risk and role of theInc.
© Fortinet Global Community:
All Rights Reserved. Managing the Unmanageable,” Briefing Paper, November 2022 14
7: Axios, “Cybersecurity Hiring Remains Strong amid Tech Layoffs,” Sam Sabin, Jan 24, 2023
FortiGuard AI-Powered Security
A Broad Portfolio of Deep Protection
Content
Web • AI Sandbox & EDR Behavior
• URL Filtering
• Polymorphic Anti-Malware | Antivirus
• DNS security • Mobile Malware
• Secure Web Gateway • Credential-stuffing defense
• Phishing
• Geo-location
• In-line CASB
• Anti-spam

NOC/SOC
FortiGuard Labs • Decoys
• Real-Time Security update • IOC Ingestion and Search
• AI & Machine Learning models • Advanced Forensics & Threat Hunting
developments on both local • AI-powered investigation & Automated
and large-scale Cloud-driven Integrative IR
data lakes • Outbreak Detection services (FAZ, FCT, FOS)
• Zero-Day discovery • Automated playbooks and remediation
• Outbreak Alerts • Fabric Rating Proactive Assessments
• Threat Monitoring and and Simplified Migration
Communications
• Industry Alliances

Application Security
• Secure Email Gateway
Device (IT | OT | IoT) • WAF signatures
• Exploit Protection
• DDOS
• Vulnerability Detection
• CASB – SaaS Security
& Patching
• IPS Known and Zero-Days
• ADC
• Botnet & C2

© Fortinet Inc. All Rights Reserved. 15

FortiGuard Labs Statistics
Data from Q2 2022

© Fortinet Inc. All Rights Reserved. 16

Prediction 3: Hybrid Work Continues to Grow

Hybrid Goes Mainstream

49% of Knowledge Workers
Hybrid or Fully Remote 7

Universal Zero Trust

Policy and context become
paramount 8

Integrated SASE
On-Prem NGFW with Cloud-
Delivered Security

7: Gartner, Forecast Analysis: Knowledge Employees, Hybrid, Fully Remote and On-Site Work Styles, Worldwide
© Fortinet Inc. All Rights Reserved. 17
8: Gartner, Predicts 2023: Zero Trust Moves Past Marketing Hype Into Reality
Zero Trust Network Access
User ID
A better VPN connection

Data
Unmanaged
Center Public
Cloud
Private
Cloud
Device ID

Managed
Device ID

Device
Application Hygiene
Gateway
Policy
Behavior
Analytics

Network
Analytics

Threat
Campus Branch Remote Intelligence
© Fortinet Inc. All Rights Reserved. 18
Secure Hybrid Work with Integrated SASE

Cloud CASB
Managed

SASE
SWG

Web
FWaaS

SD-WAN
AI-Powered Data Center
Security ZTNA

Securing Remote Users Cloud-delivered Security & Networking Better User Experience
© Fortinet Inc. All Rights Reserved. 19
Prediction 4: Network Modernization Goes Further

5G
Required for new enterprise use
9
cases: factories, drones & more
7

SD-WAN
Helping the Enterprise leverage
low-cost broadband

AIOps
IT Operations can’t function
without automation
8
for network
anomalies
10

9: Gartner, The Next Frontier of Cloud IT Services — The Nexus of Cloud, Edge, 5G, AI, IoT, and Data and Analytics
© Fortinet Inc. All Rights Reserved. 20
10: Gartner, Predicts 2023: Market Guide for AIOps Platforms
FortiExtender 5G/LTE Wireless WAN

Extend Ensure Secure

© Fortinet Inc. All Rights Reserved. 21
Secure SD-WAN and 5G
Enhance user experience no matter where the application resides

Branch

Secure 5G/LTE
SD-WAN

Campus

Better Productivity 300% ROI – Cost Optimization Secure Cloud Connectivity

© Fortinet Inc. All Rights Reserved. 22

Enjoy Even More Benefits
Reduce complexity to close security gaps, improve operational
efficiency, optimize user experience

Fortinet Secure SD-WAN

Secure Networking

NGFW SWG ROI Payback

300% 8 Months
LAN CASB
Edge

Reduction in the number Increase in productivity of

SD-WAN ZTNA of network disruptions security and network teams

65% 50%

Total Economic™ Impact of Fortinet Secure SD-WAN study

© Fortinet Inc. All Rights Reserved. 23

How does AIOps Help?
AI/ML for Automated Network Operations

Impacts over 80% of Network Tickets 11

Process Logs Predict failure Find root cause Remediate

11: Fortinet, ”Leverage AI for Continuous Detection and Optimization Across IT Operations With FortiAIOps,” Solution Brief, September
© Fortinet27,
Inc. 2022
All Rights Reserved. 24
Prediction 5: Performance Takes Center Stage

Powerful Threat Protection

Leave no egress point
unprotected

Decryption that Scales

Resource intensive functions
can’t be a bottleneck

ESG Helps Reduce Costs

Go Green & Cut Operating
Expenses
© Fortinet Inc. All Rights Reserved. 25
Networking & Security ASICs

Mobile ASICs Networking & Content ASICs

Deliver user experience, privacy Deliver user experience, security

© Fortinet Inc. All Rights Reserved. 26

 5th Generation
Security Processing Unit Secure Industry-Leading
7 nm Technology Boot Performance Per Watt

Dual Cluster
2.5Gbps
88% Less Power Consumption
Compared to Leading
Industry-Standard CPUs
SSL Deep Inspection
CPU
Octa Core

Interfaces 1G / 2.5G / 5G /
10G / 40G

32x Encryption NP7 lite + CP 10

Hardware-Accelerated Encryption
Security Processing Unit

VXLAN / GRE / QoS

17x
Volumetric
Security Compute Rating for

Hardware-Accelerated Encapsulation
DDoS Protection
Firewall Performance vs. Leading
Industry-Standard CPUs
and Traffic Shaping

© Fortinet Inc. All Rights Reserved. © Fortinet Inc. All Rights Reserved. 27
So, How Will Network Firewall Evolve?

NGFW DPI SD-WAN

?
Stateful
© Fortinet Inc. All Rights Reserved. 28
So, How Will Network Firewall Evolve?

Stateful NGFW DPI SD-WAN Secure Networking

© Fortinet Inc. All Rights Reserved. 29

Network Firewall: Evolved

VM Cloud

Appliance Container

Enterprise Networking AI/ML Security

Remote Workers Branch & Campus Sites Hybrid Workloads

© Fortinet Inc. All Rights Reserved. 30