1. April 15, 2007 Launch Training

2. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 2 2004 to 2006 Global Expansion 2003 Launch 2002 Market Testing 2001 Research & Development “Since its launch in April 2002, Internet telephony company Vonage has been a rip-roaring success.”* -BusinessWeek Online-

3. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 3 Vonage is a Pioneer Growth Company ($ in millions) Years (LTM) Begins quarter in which each company first generated revenue

4. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 4 Vonage Highlights  Vonage Marketing, a subsidiary of Vonage Holdings Corp. is a leading broadband telephone company in North America  Offering service in more than 200 markets in the US, Canada, and UK  Servicing 2,200,000+ VoIP lines

5. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 5 Vonage Overview Savings Vonage customers can save up to $400 - $800 per year! That’s up to a 50% savings! Innovation Vonage offers innovative features such as; Virtual Number Network Availability Number Leadership Vonage has the largest share of the VoIP market place!!! Why Vonage??? Area Code Selection Online Account Management

6. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 6 Vonage Recognition As reported in the June 13, 2006 edition of PC World magazine! VONAGE Sure, the company’s commercials grate, but give Vonage its due: It’s the best VoIP service available. For $25 a month, you get unlimited calls to the US, Canada, and a chunk of western Europe. Setup is quick and painless — five minutes, tops — and call quality is clear even while you’re downloading video. Plus, the numerous dialing features — everything from three-way calling to call return — should satisfy even the highest-maintenance dialers. WIRED Lets you adjust sound quality to preserve bandwidth. Free international calls to other Vonage users. Seven-digit dialing available for local calls. TIRED Residential fax line costs an additional $10 per month. $25 per month, www.vonage.com www.vonage.com Feb. 2007

7. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 7 Unprecedented Quality Vonage’s Customers Enjoy High Quality Phone Service SmartMoney Magazine’s Blind Survey Results: Vonage Call Quality Rated The Best, Beating Even Landline Service 4.1 4 3.6 3.5 2.1 2 2.5 3 3.5 4 4.5 5 VonageVerizon Land Line Packet8AT&T CallVantage BroadvoiceCingular

8. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 8 How Vonage Works

9. Technical Overview

10. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 10 Technical Overview  High Speed Internet Connection (either cable modem or DSL) –Cable modem customers can disconnect their landline phone service entirely –DSL customers will probably need to maintain their basic local calling plan  Vonage Device –PAP2 with existing/separate router –Vonage Enabled Router –Vonage Enabled Phone System  Credit Card/Debit Card  Telephone  Computer (does not need to be on!) System Requirements for Vonage Broadband Phone Service

11. Features, Calling Plans and Devices

12. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 12 Vonage Calling Features The Free Features You Expect Voicemail Caller Id with Name Call Waiting Call Forwarding Call Transfer 3-Way Calling Call Hunt Repeat Dialing Call Return (*69) Caller ID Block (*67) International Call Block Bandwidth Saver # 1 Feature is Savings!!!

13. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 13 Vonage Innovative Calling Features The Innovation You Desire Dialing 911 Local Number Portability Area Code Selection Network Availability Number Multiple Phone Numbers Web Based Voicemail Retrieval Access via phone, web, email Real-time Calling Activity National Number Mobility Online Features Management Change Your Phone Number

14. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 14 Vonage 911  Vonage 911 –Customers are automatically registered for 911 based on the address provided during the activation process. –Customers can still call 911 even if they live in an area that doesn’t support E911! In the event that the call doesn’t go through their calls are sent to an On-Star like service. –Currently Vonage E911 service is available in over 2400 PSAPs across the United States! This equates to over 1/3 of the nations PSAPs in less than 1 year!!! –As of Jan. 29, 2007 - 94% of all Vonage subscribers are E911 compatible!!! *** E911 is here!!! ***

15. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 15 Local Number Portability - LNP What is LNP???  Local Number Portability allows customers to keep their current phone number when switching service providers!  Vonage also has the capability to port cell phone numbers!

16. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 16 Local Number Portability - LNP  To Determine if a Telephone Number is Transferable:  Log on to www.vonage.comwww.vonage.com  Click on the area code tab  Click on the LNP link at the top of the page  Enter the area code and exchange  IMPORTANT TO CHECK EVERY NUMBER, AS WE UPDATE AREAS CONSTANTLY, AND SOME LNP AREAS ARE AVAILABLE OUTSIDE OF VONAGE-SUPPLIED REGIONS. Is My Number Transferable???

17. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 17 Vonage Premium Calling Features  Virtual Phone Number –$4.99/month per Virtual Number –Choose a Number From Another Area Code, Which Will Ring to You –Unlimited Inbound Calls to You! –Charged as a Local Call for the Person Calling to You! –Available Areas: USA, Canada, Mexico City, and London for $4.99! –NEW! PREMIUM INTERNATIONAL VIRTUAL NUMBERS $9.99 in FRANCE, ITALY, IRELAND and SPAIN!

18. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 18 Vonage Free Calls to Europe Free calls to Europe offer does not apply to calls to cell phone numbers or to special services numbers such as toll-free or caller-paid information services or 900 numbers, and is limited to Italy, France, Spain, UK and Ireland. On $24.99 and $49.99 plan only.

19. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 19 Vonage Premium Calling Features  Toll Free Plus  $4.99/month per Toll Free Number  First 100 Inbound Minutes Free Every Month  4.9 cents/minute overage  Incredibly Low International Rates  Austria - 7 cents/minute  Switzerland - 6 cents/minute  Germany - 4 cents/minute  Hong Kong - 4 cents/minute  Japan - 5 cents/minute  Italy – FREE*  Ireland – FREE*  France – FREE*  Spain – FREE*  UK – FREE* * Unlimited calling plans only

20. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 20 New International Rates  Starting March 12, 2007  New $.01 International Rate Plan –Selected areas – Landline calls ONLY – Premium Rates still apply  Locations of Exciting New $.01 Rate – Buenos Aires, Argentina- Sydney, Australia – China- Israel – Poland- Singapore – Sweden – Mexico (Mexico City, Guadalajara, Monterrey)

21. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 21 Vonage Calling Plans Basic 1500 Minute Business Includes 1500 Minutes anywhere in the US, Canada and Puerto Rico All incoming minutes are INCLUDED $39.99 Basic 500 Plan Includes 500 Minutes anywhere in the USA, Canada and Puerto Rico All incoming minutes are INCLUDED $14.99 3.9 cents/minute overage Premium Unlimited Residential Unlimited Local & Long Distance Calling throughout US,Canada and Puerto Rico All incoming minutes are INCLUDED $24.99 Premium Unlimited Business Unlimited Local & Long Distance Calling throughout US, Canada and Puerto Rico All incoming minutes are INCLUDED $49.99 Fax Service $9.99/month 250 minutes of Fax Service 3.9¢ overage FREE Fax Line 500 minutes of Fax Service 3.9¢ overage 3.9 cents/minute overage

22. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 22 Vonage Money Back Guarantee There are no financial risks to trying Vonage service. Our hassle-free Money Back Guarantee policy guarantees satisfaction. If for any reason a customer wishes to cancel service, we will refund their money with no questions asked.

23. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 23 Vonage Money Back Guarantee To qualify for our 30-day money-back guarantee, customers must: Cancel service within 30-days of the activation of their account. Email cancellations@vonage.com or call 1-VONAGE- HELP (1- 866-243-4357) to cancel service. Return all equipment along with the receipt to the retailer. Not exceed 500 minutes of usage in the first 30 days of service. Customer is responsible for all international or directory assistance call charges accrued during the 30-day money back guarantee period.

24. Vonage Devices

25. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 25 V-Phone V-Phone – USB Thumb drive Phone Adapter MSRP:$39.99 Turn any PC into a Fully Functional Vonage Phone! For the Customer that Travels Hardware Features Include:  Vonage Talk Software Pre-Loaded  Detachable Stereo Earpiece Microphone  230MB Usable Portable Memory Storage  1 year manufacturer’s warranty Standard Vonage FeaturesEnhanced Features Available  Personalized Voicemail  Call Forwarding  Caller ID  3-Way Calling  Call Transfer  Ring Lists  Call Waiting  Repeat Dialing  Called ID Block (*67)  Bandwidth Saver  On-Line Account Management  Area Code Selection  Keep your existing Phone Number* Virtual Phone Number™  Additional Lines  Toll Free Numbers  Fax Numbers  Click-2-Call  Enhanced 411

26. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 26 V-Phone 1. World’s smallest VOIP self contained telephone adaptor, all pluggable, portable and powerful ! 2. The V Phone weighs less that a set of car keys and so lightweight and portable. 3. If you share a computer the V Phone also includes 233 MB of storage space to share information. 4. The V Phone comes complete with a phone headset or you can use your existing PC speakers and microphone. 5. Make and receive Phone Calls from any PC to any phone number. $14.99 Residential Basic 500 Minutes $24.99 Unlimited Residential Single Line Unlimited $34.99 Vonage Office Anywhere Single Line Unlimited

27. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 27 Router Motorola VT2142 Vonage Enabled Router MSRP: $49.99 Hardware Features Include:  Built in Vonage service  No Router needed!  Supports up to 1 additional computers  1 year manufacturer’s warranty Standard Vonage Features Enhanced Features Available  Personalized Voicemail  Call Forwarding  Caller ID  3-Way Calling  Call Transfer  Ring Lists  Call Waiting  Repeat Dialing  Called ID Block (*67)  Bandwidth Saver  On-Line Account Management  Area Code Selection  Keep your existing Phone Number* Virtual Phone Number™  Additional Lines  Toll Free Numbers  Fax Numbers  Soft phone™  Click-2-Call

28. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 28 Motorola Bundle Motorola Vonage Bundle Vonage Enabled Router - VT1005 Expandable Phone System – MD751 & MD71(handset) MSRP: $99.99 Hardware Features Include:  Built in Vonage service  Supports up to 1 additional computers  1 year manufacturer’s warranty Standard Vonage Features Enhanced Features Available  Personalized Voicemail  Call Forwarding  Caller ID  3-Way Calling  Call Transfer  Ring Lists  Call Waiting  Repeat Dialing  Called ID Block (*67)  Bandwidth Saver  On-Line Account Management  Area Code Selection  Keep your existing Phone Number* Virtual Phone Number™  Additional Lines  Toll Free Numbers  Fax Numbers  Soft phone™  Click-2-Call

29. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 29  Defective devices should be returned to the retailer as per the return policy (30 days).  After the retailer return policy the customer MUST contact Vonage for return authorization! Defective Vonage Device Return

30. Web Account (Dashboard)

31. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 31 Vonage Web Account How to Access Log on to Vonage.com Enter: Username and Password

32. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 32 Vonage Web Account Dashboard

33. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 33  The ACTIVITY page lists all calls made and received in 7-day views and allows customers to search their activity for a specific call… Vonage Web Account Activity Previous 7 days Full caller ID with name functionality

34. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 34  Advanced Activity Search –Customers can enter criteria and locate information about any specific call they made or received! Vonage Web Account Activity Search by: Date/Time Number Length of Call

35. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 35 Vonage Web Account Billing  The BILLING page provides information such as billing cycle, next payment date and monthly charges to date.

36. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 36 Vonage Billing Procedures  NO MORE PAPER!!!!!!  Billing is completed via credit card/debit card or automated checking only!  Billing begins as soon as the initial credit card payment is accepted and continues on the monthly anniversary date, approximately every 30 days.  Customers will be notified via email each month telling them their credit card has been charged or if the charge failed.  If payment fails customers are instructed to log on to their account and re-submit payment.  Features added mid-month will be pro-rated on the next billing cycle!

37. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 37 Vonage Web Account Voicemail  The VOICEMAIL page allows customers to listen to and manage messages, set up email notification of messages, receive voicemail via email and change voicemail PIN. If more than one number on the account, select the number for voicemail inbox!

38. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 38  Click on Voicemail Settings to: Vonage Web Account Voicemail Change PIN Set up Email Notification Call Forwarding

39. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 39 Vonage Web Account Account  The ACCOUNT page allows customers to view and edit account information and password. All other information can be edited here!!

40. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 40 Vonage Web Account Features  The FEATURES page allows customers to configure each calling feature included in their account.

41. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 41 Vonage Web AccountAdd-Ons

42. Installation

43. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 43 V-Phone Installation

44. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 44 VT2142 Installation - Connect from the cable/DSL modem to the VT2142 using the blue Ethernet cable - Connect from the VT2142 to the PC using the yellow Ethernet cable

45. Employee Accommodation Program

46. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 46 Retail Employee Accommodation Plan  Vonage offers an accommodation plan for all retail partner employees that sign up for the Vonage service!!! –6 months FREE!!! Vonage enabled device must be purchased AT retail store and account activated within 15 days of purchase. Go to www.vonagezone.com for details and application!www.vonagezone.com

47. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 47 New Vonage Training Website www.vonagezone.com Learn about Vonage Service and Products Learn about new promotions Take the quizzes and WIN prizes! Download Brochures, PDF Files, Installation Guides and more…

48. Sales Training Overview

49. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 49 Sales Training Overview Qualify Qualifying Questions Help your customer select the correct Vonage product and service plan by uncovering their needs. 1. How much do you pay a month for your standard phone service? Explain that a typical phone bill from a traditional phone company is over $50 not including all the extra taxes and fees. Plus, most of the standard Vonage features cost extra with traditional phone companies. Most residential customers can save $250 or more per year by switching to Vonage’s “Premium Unlimited” plan! 2. Do you have Broadband or High-Speed Internet service? Vonage will only work on a high-speed Internet line. Customer’s who have Cable modems, DSL, modems, or fiber-optic Internet can all use Vonage. Vonage does not support usage on high-speed satellite.

50. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 50 Sales Training Overview Qualify 3. Do you have a router or home network running at home now? If the customer already has a router/network now and they are happy with it they can save money buy investing in the PAP2, D-Link VTA or VT-1005 telephone adapter. It will hook into their existing network and save them the expense of buying the router with Vonage capability built-in. If they don’t have a network or router they should consider investing in one of the router product as this gives them the ability to build a network now or in the future. In fact, after rebates, the router with Vonage built-in are very competitive with a standard router in price.

51. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 51 Sales Training Overview Qualify 4. Where do you call? or Who do you call? With Vonage, the entire North American continent is a local phone call! There are no more long distance charges for calling across town, across state, or across the country! Additionally, Vonage’s international rates are extremely affordable. Your customers can call the United Kingdom for only 3¢ a minute, Tel Aviv for only 4¢ a minute, and Hong Kong for only 3¢ a minute!! 5. Do they wish they could talk to Grandma or another person more often? They can invest in a “Virtual Phone Number” for them for only $4.99 a month. That way that person can call them and pay no long distance charges too!

52. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 52 Sales Training Overview Qualify 6. Are you planning on keeping your number? Most customers will have the option of keeping their existing wire-line phone number over to Vonage’s service. This is no problem for customers with Cable or Fiber-Optic modems. However many DSL providers do require that you maintain a “lifeline” or minimal phone service through their phone lines. This is typically a very minimal charge, buy could interfere with the ability to “port” their existing number as it is attached to the DSL line. No worries though….Your customers can still enjoy all of the benefits of Vonage service including unlimited calling in the US, Canada and Puerto Rico along with our other included features with a DSL line and still save money in the long run.

53. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 53 Sales Training Overview Present Frequently Asked Questions Q. Are there any additional costs? A. In addition to the cost of your monthly plan, there is a 3% Federal Excise Tax and a $1.50 Regulatory Recovery Fee. We do not charge state sales tax UNLESS you reside in NJ.* Q. Do incoming calls count against my monthly minutes? A. With Vonage, incoming calls are never counted against your minutes on any plan. You never pay a fee for Outgoing toll free or Vonage to Vonage calls. The only exception to this rule applies if you have a Toll Fee Plus number on your account. Incoming calls to your Vonage Toll Free Plus number are charged after you have exceeded your monthly minutes.

54. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 54 Sales Training Overview Present Frequently Asked Questions Q. Do I have to sign a contract? A. With Vonage there is a 1 year commitment. The customer still has the opportunity to cancel there Vonage service anytime during that year, but will incur a “termination fee” of $39.99. After the commitment is completed the termination fee is waived. Q. What if the power goes out? A. If the power goes out, obviously your Internet connection will go down along with your Vonage service. However, Vonage has a feature called ”Network Availability“ and will automatically forward any incoming calls to any phone number of your choice. (i.e. your cell phone)

55. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 55 Sales Training Overview Present Frequently Asked Questions Q. I have a home security system. Will Vonage work with my security system? a.Most home security system are compatible with VoIP and Vonage in one way or another! Some of the companies will have a wired solution and some will have a wireless solution. It will be up to the customer to call their security company and check on the compatibility with VoIP and Vonage. b.Vonage does have a partnership with online security company Alarm.com. If a customer is looking to get a security system this is a great solution for them.

56. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 56 Sales Training Overview Present Handling Objections Q. I have AOL for broadband. Will Vonage work with that? A. Many people out there are using AOL for Broadband as their internet provider. Just because broadband is in the title of this service doesn’t mean that it is compatible with Vonage. Vonage needs to have a continuously live internet connection without the use of a log-in. AOL for Broadband, although it has the bandwidth to support Vonage, is NOT a continuously live internet connection and most time incorporates the use of a log-in. For these reasons Vonage is NOT recommended for use with AOL for Broadband.

57. Copyright 2006 Vonage Holdings Corp. – Proprietary & Confidential 57 Questions?