VASCO is a global leader in strong authentication, digital signatures, and identity management solutions specializing in securing financial transactions and protecting access to data and applications.

1. © 2015 - VASCO Data Security
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2. © 2015 - VASCO Data Security CONFIDENTIAL
Forward Looking Statements
Statements made in this presentation that relate to future plans, events or performances are forward-
looking statements within the meaning of Section 21e of the Securities Exchange Act of 1934 and
Section 27A of the Securities Act of 1933. These forward-looking statements (1) are identified by use
of terms and phrases such as “expect”, “believe”, “will”, “anticipate”, “emerging”, “intend”, “plan”,
“could”, “may”, “estimate”, “should”, “objective”, “goal”, “possible”, “potential”, “project” and similar
words and expressions, but such words and phrases are not the exclusive means of identifying them,
and (2) are subject to risks and uncertainties and represent our present expectations or beliefs
concerning future events. VASCO cautions that the forward-looking statements are qualified by
important factors that could cause actual results to differ materially from those in the forward-looking
statements. These risks, uncertainties and other factors that have been described in our Annual
Report on Form 10-K for the year ended December 31, 2013 and include, but are not limited to, (a)
risks of general market conditions, including currency fluctuations and the uncertainties resulting from
turmoil in world economic and financial markets, (b) risks inherent to the computer and network security
industry, including rapidly changing technology, evolving industry standards, increasingly sophisticated
hacking attempts, increasing numbers of patent infringement claims, changes in customer
requirements, price competitive bidding, and changing government regulations, and (c) risks specific to
VASCO, including, demand for our products and services, competition from more established firms and
others, pressures on price levels and our historical dependence on relatively few products, certain
suppliers and certain key customers. Thus, the results that we actually achieve may differ materially
from any anticipated results included in, or implied by these statements. Except for our ongoing
obligations to disclose material information as required by the U.S. federal securities laws, we do not
have any obligations or intention to release publicly any revisions to any forward-looking statements to
reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.
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3. © 2015 - VASCO Data Security CONFIDENTIAL
Company Overview
VASCO is a global leader in strong authentication, digital signatures,
and identity management solutions specializing in securing financial
transactions and protecting access to data and applications.
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4. © 2015 - VASCO Data Security CONFIDENTIAL
Listed on NASDAQ in 1997
21% Compound Annual Growth Rate in
Revenues from 2004-2014
50 Consecutive Quarters of Profitability
Company Overview
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5. © 2015 - VASCO Data Security CONFIDENTIAL
10,000+ Customers in more than 100 Countries,
More than half of the top 100 Global Banks
and 1,700+ Financial Institutions rely on VASCO
More than 200 Million Authenticators Sold
Company Overview
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6. © 2015 - VASCO Data Security CONFIDENTIAL
Global Company
VASCO HQ
VASCO Offices
VASCO Sales
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7. © 2015 - VASCO Data Security CONFIDENTIAL
Financial Institution Customers
- The world leader in two-factor authentication and
transaction signing for financial institutions.
- More than half of the top 100 global banks rely on
VASCO solutions
- More than 1,700 banking customers
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8. © 2015 - VASCO Data Security CONFIDENTIAL
- Frequency and sophistication of attacks has increased
- High-profile breaches have brought security
to the C-level and Board of Directors
- Regulations to protect consumer
transactions and personal privacy
- Mobile is becoming the device of choice
- Increasing demand for transparent security
Key Growth Drivers
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9. © 2015 - VASCO Data Security CONFIDENTIAL
"Two out of three attacks focus
on [login] credentials at some
point in the attack."
Verizon Data Breach
Investigations Report
The Role of Authentication
Why Authentication?
• Data breaches are up 49%(1)
• Authentication protects against the newest attacks
• Authentication is easy to implement and use
(1) The Breach Level Index, released February, 2015.
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10. © 2015 - VASCO Data Security CONFIDENTIAL
VASCO Innovation Timeline
1988
1st DIGIPASS
“Access Key”
1989
1st DIGIPASS
with Keypad
2002
VACMAN
Controller
2004
DIGIPASS GO 3
1st 1-button token
2005
IDENTIKEY
SERVER
2005
DIGIPASS 810
EMV card reader
2006
DIGIPASS 905
1st connected
Card reader
2007
DIGIPASS 270
1st thin form
Token w/keypad
2008
DP for Mobile
Soft token
for phones
The First 20 Years:
1991
DIGIPASS 550
with e-Signature
10
2011
DIGIPASS 920
Connected reader
for e-Government

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2014
Rabo Scanner
Card reader with
Cronto technology
2014
DIGIPASS for Apps
with Cronto
technology
VASCO Innovation Timeline
2013
DIGIPASS for Apps
SDK for integration
into applications
2012
DIGIPASS 320
1st Authenticator
with WYSIWYS
2013
DIGIPASS 870
1st dual mode
e-Gov’t reader
2015
IDENTIKEY
Risk Manager
Anti-fraud
solution
2013
DIGIPASS 760
1st token with
Cronto technology
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2014
DIGIPASS Bluetooth
Smart-enabled
Authenticators
2015
DIGIPASS for Apps
with RASP
Application Protection
The Last 3 Years:

12. © 2015 - VASCO Data Security CONFIDENTIAL
Host System
• VACMAN Controller: All VASCO authentication technologies in a
unified backend platform.
• IDENTIKEY Authentication Server: Centralized server with
complete functionality.
• Cloud Services: Authentication services hosted by VASCO.
Client Authenticators
• DIGIPASS: Industry-leading hardware and software authenticators.
Developer Tools
• DIGIPASS for Apps: Software development kit (SDK) for native
integration of application security.
VASCO Product Offerings
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13. © 2015 - VASCO Data Security CONFIDENTIAL
Market Segments
Enterprise Security:
• Remote access
• Employee network access
Application Security:
• Stand-alone application
• SDK for app integration
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Banking Security:
• Commercial Accounts
• Retail Accounts
• Employee Access

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Key Product Initiatives
Cronto
Technology
New Attack Methods Require Innovative Solutions
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DIGIPASS
for Apps
DIGIPASS
Bluetooth-
smart
Intelligent
Fraud
Prevention
IDENTIKEY
Risk Manger

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• Next generation HD Color QR Code
• Authentication and signature
capabilities with a high level of user
convenience
• Defeats Man-in-the-Middle attacks
• Fully supported by VACMAN and
IDENTIKEY
• Integrated into DIGIPASS for
Apps/Mobile or as a hardware device
Cronto Visual Authentication
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DIGIPASS 760
SC Magazine
April, 2015

16. © 2015 - VASCO Data Security CONFIDENTIAL
Cronto Visual Authentication
How it Works
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Cronto Visual Authentication
How it Works
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Mobile Application Protection
Growth in the market for mobile Apps
Source: Gartner
Estimated Mobile App Downloads Worldwide (in billions)
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By 2017, mobile apps will be downloaded more than 268 billion times.

19. © 2015 - VASCO Data Security CONFIDENTIAL
Mobile Application Protection
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• Allows any developer to integrate security features
into their application.
• Developers focus
on their application
and outsource the
security to VASCO.
• Comprehensive
library of essential
security functions.
DIGIPASS for Apps/Mobile
SC Magazine
April, 2015
Current and future features

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Geolocation
OS Version
JailBreak &
Root Detection
Malware
PIN Activated
ClientScorePolicy
ScoreCalculation
OTPInjection
ClientSideDecisionPolicy
Action 1
Action 2
Action 3
Action 4
Action 5
Action 6
…
1 2
3 4
Action 1
Action 2
Action 3
Action 4
Action 5
Action 6
…
ServerScorePolicy
OTPExtraction
OTPValidation
5 6
ContextPlatformUser
Mobile Application Protection
Intelligent Risk Scoring for Mobile Devices

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• Eliminates the biggest hurdles to cloud adoption
• Boosts customer trust
• Security as a competitive differentiator
• Ease of implementation
• Provides a pay-as-you-grow approach
• Next step in DIGIPASS as a Service
Cloud-based Security for Application Developers
Mobile Application Protection
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22. © 2015 - VASCO Data Security CONFIDENTIAL
Bluetooth Smart-enabled
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Bluetooth Smart enabled Authenticators
connect with almost any mobile user device
• Solves the problem of mobile devices with no USB port
• More convenient with no cables to connect
• Secure Bluetooth Smart-enabled connection
• Works in connected and unconnected mode

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How it works:
IDENTIKEY Risk Manager
Source: Gartner
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IDENTIKEY
Risk Manger

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• Contextual analysis to apply the appropriate level of security
• Real-time analysis and intelligent decision engine focusing on:
• Web and mobile application login
• Financial transactions via online and mobile channels
• Monitoring non-monetary events such as change of address
• Identification of accounts that demonstrate abnormal characteristics
for the prevention of money laundering.
IDENTIKEY Risk Manager
Risk-Based Authentication and Fraud Prevention
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Financial Information
Historical Overview
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Revenue and Operating Income
Revenue Operating Income
in millions USD in millions USD
CAGR
(revenue)
2004-2014
21%
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Cash Balance and Net Working Capital
Net Cash Balance Net working capital
in millions USDin millions USD
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28. © 2015 - VASCO Data Security

29. © 2015 - VASCO Data Security
Copyright
 2015 VASCO Data Security. All rights reserved.
No part of this publication may be reproduced, stored in a retrieval system, or
transmitted, in any form or by any means, electronic, mechanical, photocopying,
recording, or otherwise, without the prior written permission of VASCO Data
Security.
Trademarks
VASCO®, VACMAN®, IDENTIKEY®, aXsGUARD®, DIGIPASS®, Cronto®,
DIGIPASS for Apps®, DIGIPASS for Mobile®, MYDIGIPASS ®
MYDIGIPASS.COM® and the ® logo are registered or unregistered
trademarks of VASCO Data Security, Inc. and/or VASCO Data Security
International GmbH in the U.S. and other countries
Copyright & Trademarks
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