Analyst Day Presentation March 4, 2020

1 Safe harbor for forward-looking statements

Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, particularly those regarding our 2020 Financial Guidance. Such forward-looking statements are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from those described in those statements. Readers should carefully review the Risk Factors slide of this presentation. These forward-looking statements are based on management’s expectations or beliefs as of March 4, 2020 as well as those set forth in our Annual Report on Form 10-K filed by us on March 2, 2020 with the Securities and Exchange Commission (“SEC”) and the other reports we file from time to time with the SEC. We undertake no obligation to revise or publicly release any updates to such statements based on future information or actual results. Such forward-looking statements address the following subjects, among others: • Future operating results • Ability to acquire businesses on acceptable terms and integrate and recognize synergies from acquired businesses • Deployment of cash and investment balances to grow the company • Subscriber growth, retention, usage levels and average revenue per account • Cloud service and digital media growth and continued demand for fax services • International growth • New products, services, features and technologies • Corporate spending including stock repurchases • Intellectual property and related licensing revenues • Liquidity and ability to repay or refinance indebtedness • Systems capacity, coverage, reliability and security • Regulatory developments and taxes All information in this presentation speaks as of March 4, 2020 and any redistribution or rebroadcast of this presentation after that date is not intended and will not be construed as updating or confirming such information.

2 Risk factors The following factors, among others, could cause our business, prospects, financial condition, operating results and cash flows to be materially adversely affected:

• Inability to sustain growth or profitability, and any related impact of U.S. or worldwide economic issues on customer acquisition, retention and usage levels, advertising spend and credit and debit card payment declines • Inability to acquire businesses on acceptable terms or successfully integrate and realize anticipated synergies • Reduced use of fax services due to increased use of email, scanning or widespread adoption of digital signatures or otherwise • Failure to offer compelling digital media content causing reduced traffic and advertising levels; loss of advertisers or reduction in advertising spend; increased prevalence or effectiveness of advertising blocking technologies; inability to monetize handheld devices and handheld traffic supplanting monetized traffic; and changes by our vendors or partners that impact our traffic or publisher audience acquisition and/or monetization • New or unanticipated costs and/or fees or tax liabilities, including those relating to federal and state income tax and indirect taxes, such as sales, value-added and telecommunications taxes • Unforeseen global crises, such as war, strife, global health pandemics, earthquakes, or major weather events or other uncontrollable events could negatively impact our revenue and operating results • Inability to manage certain risks inherent to our business, such as fraudulent activity, system failure or a security breach; inability to manage reputational risks associated with our businesses • Competition from others with regard to price, service, content and functionality • Inadequate intellectual property (IP) protection, expiration, invalidity or loss of key patents, violations of 3rd party IP rights or inability or significant delay in monetizing IP • Inability to continue to expand our business and operations internationally • Inability to maintain required services on acceptable terms with financially stable telecom, co-location and other critical vendors; and inability to obtain telephone numbers in sufficient quantities on acceptable terms and in desired locations • Level of debt limiting availability of cash flow to reinvest in the business; inability to repay or refinance debt when due; and restrictive covenants relating to debt imposing operating and financial restrictions on business activities or plans • Inability to maintain and increase our customer base or average revenue per user • Inability to achieve business or financial results in light of burdensome telecommunications, , advertising, health care, consumer, privacy or other regulations, or being subject to existing regulations • Inability to adapt to technological change and diversify services and related revenues at acceptable levels of financial return • Loss of services of executive officers and other key employees • Other factors set forth in our Annual Report on Form 10-K filed by us on March 2, 2020 with the SEC and the other reports we file from time to time with the SEC

3 Scott Turicchi, President and CFO

4 J2 Global Cloud Services J2 Acquisition System Agenda

2:00pm Welcome & Financials | Scott Turicchi, President and Chief Financial Officer

2:15pm Cloud Services | Nate Simmons, President, Cloud Services

3:00pm Ziff Davis | Steve Horowitz, President, Ziff Davis

3:45pm Everyday Health Group | Dan Stone, President, Everyday Health Group

4:30pm J2 Acquisition System | Sean Alford, Senior Vice President, Corporate Development

4:55pm Fireside Chat | Vivek Shah, Chief Executive Officer, J2 Global & Dan Ives, Managing Director, Equity Research, Wedbush Securities 5:30pm Q&A | J2 Global Team

6:00pm Cocktails

5 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Investment highlights

Diversified portfolio of internet brands at the forefront of the shift from analog to digital

Highly recurring revenues across advertising and subscription businesses

Consistent and sustained revenue and earnings growth

Programmatic M&A system with proven track record

Virtuous cycle of Free Cash Flow generation

6 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Exceptional financial performance

21% Revenue CAGR 24% average annual ROIC1 FCF / (IEC + Net Debt) ($ in MM USD) ($ in MM USD) $1,372.0 $1,207.3 25.5% Avg.= 23.8% CAGR +21% $1,117.8 31.0% 23.5% 22.6% $874.3 24.1% $720.8 20.9% $599.0 18.7% $520.8 $330.2 $371.4 $255.4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2013 2014 2015 2016 2017 2018 2019

17% EBITDA1 CAGR Annual FCF1 continues to grow with successful integrations ($ in MM USD) ($ in MM USD) $344.9 $350.4 CAGR +17% $550.2 $489.5 $463.0 $267.9 $264.8 $396.1 $223.2 $333.3 $166.0 $171.5 $262.6 $157.5 $150.4 $220.4 $177.7 $194.3 $108.8 $133.9

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

1. Figures are adjusted non-GAAP, see Supplemental Information section at back for a GAAP Reconciliation 7 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Two strong segments

Digital Media Cloud Services Financial Overview Financial Overview

Revenue Revenue ($ in MM USD) ($ in MM USD) CAGR 9% CAGR 33% $710 $662 $609 52% $567 $579 $598 $539 48% of Total $503 of Total Revenue $430 Revenue $216 $307 $168 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019

Adjusted EBITDA1 Adjusted EBITDA1 ($ in MM USD) ($ in MM USD)

CAGR 9% CAGR 36% $246 $203 42% $334 58% $172 $258 $295 $304 $306 of Total EBITDA of Total EBITDA $85 $114 Contribution $213 Contribution $53 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 Adjusted EBITDA Margin Adjusted EBITDA Margin 32% 39% 37% 32% 33% 35% 50% 51% 51% 53% 51% 51%

Select Brands Select Brands

1. Figures are adjusted non-GAAP and adjusted EBITDA margins are before corporate allocation | Refer to the Supplemental Section at the back for additional details on our GAAP Reconciliation 8 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System 2020 FY guidance

Adjusted Adjusted non- Revenues EBITDA1,2 GAAP EPS1,2

$1,465MM - $575MM - $7.36 - $7.66 $1,505MM $595MM

1. Figures are adjusted non-GAAP 2. Adjusted earnings per diluted share excludes share-based compensation, amortization of acquired intangibles and the impact of any currently anticipated items, in each case net of tax 9 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Significant capacity for acquisitions in 2020

$1B+ of ‘dry powder’ from three sources

Balance sheet 2020 FCF Revolving line of credit Cash on hand at year end Cash from ongoing 2020 Debt instrument leveraged for operations acquisitions as needed

10 Cloud Services Nate Simmons, President

11 Introductions

Experience: • Symantec (NortonLifeLock) • Time Inc. • Warner Media • McKinsey & Company

Expertise: • Digital security and privacy • Subscription revenue growth • eCommerce Nate Simmons • M&A / Integration President, Cloud Services

12 J2 Cloud Services provides market-leading software and services that enable people and businesses to be productive and safe in the digital world

13 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Investment highlights

• Market-leading security, communications, and marketing solutions for businesses and consumers

• Strong financial performance with >80% recurring revenue from subscription • Successful acquisitions expand product offerings and drive profitable growth • Multiple growth engines based on Security and Privacy value propositions – Secure document delivery for sensitive business/customer information – Security and data protection for small and medium-sized businesses – Privacy solutions that enable individuals to use the Internet safely

$662MM $334MM ~3MM ~190K Revenue in 2019 EBITDA1 in 2019 Consumer and Business Accounts (+11% YoY) (+9% YoY) SOHO Customers (majority are SMB)

1. Adjusted EBITDA before corporate allocation 14 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Successful expansion into multiple cloud-based markets

From Online Fax to Security and Privacy

2013 2015 2017 2019

2010 2014 2016 2018

15 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Strong positions in attractive markets

Markets Example brands Description 2019 Revenue1 Protecting businesses and consumers from disruption and loss due to cyber threats • Advanced email and endpoint security and threat intelligence Security & Privacy $215MM • Market-leading secure data backup and disaster recovery services • Consumer VPN, malware protection, and secure file storage Enabling consumers and home offices to securely send and receive SOHO documents by email, web, or mobile app $191MM Cloud Fax • Eliminates the need for fax machines and dedicated phone lines

Enterprise-grade secure document delivery services Corporate • High levels of performance, reliability, and support • Compliant with HIPAA and other info security requirements $130MM Cloud Fax • Platform and workflow integrations • Eliminates need for machines, servers, and maintenance

Enabling businesses to be more productive and efficient • Email marketing and delivery solutions SMB Enablement $125MM • Unified voice and messaging systems • Call center tools

1. Excludes $1.0M in IP licensing revenue; includes only 9-months of revenue from VPN brands 16 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Market-leading products: Security and Privacy

Highly rated by customers, partners, and 3rd party reviews and testing

Multiple Top Product and “Best VPN out there. No fine J2 is the largest Veeam® First major cloud fax provider Advanced+ awards from print or strings attached like Cloud Service Provider and a to obtain certification from independent testing agencies the other big competitors. Fast Veeam Global Platinum HITRUST®, an independent such as AV-Test Institute and speeds, plethora of server Partner council of healthcare and AV-comparatives locations and most of all they technology organizations – respect your privacy… I always OffsiteDataSync was recently the gold standard for HIPAA “This product impresses with feel safe online under the named 2020 Veeam® Cloud and ISO security compliance clear design, simple shield of IPVanish.” Service Provider of the Year operational processes and - Jacek 5/30/2019 strong reporting features” - AV-comparatives (Nov. 2019)

17 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Strong financial performance with >80% recurring subscription revenue 9% Revenue CAGR Cloud Services revenue composition ($ in MM USD) (2019)

Fixed-recurring subscription

CAGR +9% $662 $598 $567 $579 $503 Usage-based $430

83% 17%

2014 2015 2016 2017 2018 2019

18 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Successful acquisitions expand product offerings and drive profitable growth Investment thesis: SMB Enablement

Total Date of 2019 EBITDA Integration and Acquisition Business description purchase acquisition price Contribution growth strategies

• Leverage existing eVoice Unified communication infrastructure and team to platform and VoIP service expand margin 6/18 with strong ‘softphone’ app • Enhance eVoice platform for mobile devices with Line2 mobile app and $64.2MM $12.2MM VoIP capabilities • Apply proven monetization Email marketing solution strategies to increase with strong brand and large average revenue per footprint in small business 5.3x Total spend / 1/19 account (ARPA) segment, easy to use 2019 EBITDA features and platform Contribution multiple • Integrate high-value iContact features into other email platforms

19 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Building leadership positions and growth engines based on Security and Privacy value propositions

Secure document Cybersecurity and data Privacy solutions transmission protection

Enabling consumers and For healthcare and other Protecting small and medium- professionals to use the Internet industries handling sensitive sized businesses from disruption safely to keep their information customer information and loss private

20 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Secure document transmission: Growing in healthcare and other compliance verticals Global Online Fax market1 Strategy: Win share from server-based providers with Cloud- and server-based SOHO (~$350MM) cloud-based secure document delivery solutions for healthcare and other verticals

• High-speed, 100% virtual reliability Market leader J2 Global Infra- • HIPAA compliant, HITRUST certified in SOHO structure 55% 45% Others • Regional data sovereignty segment

• API and Router for direct integration, message delivery into EHR, ERP, etc. Product • Consensus by eFax, interoperable Server-based fax messaging for healthcare (2020 launch) accounts for large Corporate (~$1.5B) share Others • Healthcare is ~1/3 Go-to- • Direct sales of market market • Channel • eCommerce • 75% of healthcare J2 Global 91% 9% documents are transmitted via Fax 20% growth in new business sales to SMBs in 2019 with 65% coming from healthcare customers in Q4

1. Arizton Advisory & Intelligence 21 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Cybersecurity and data protection: Aligning our portfolio to deliver against SMB customer needs ‘Essential / very important’ security services planned J2 offerings are aligned to SMB security priorities, for purchase in next 24 months creating growth opportunity fueled by upsell Dec. 2019 survey of 1,000 U.S. businesses with 1-500 employees

Malware protection 30% Advanced endpoint security, email Email security 27% security, real-time threat intelligence Backup and disaster recovery 25% Premium backup and disaster recovery Threat intelligence 24% services, including Office 365 Backup Password protection/management 24% Website security 24%

Security awareness training 23% DNS filtering (web security) and Phishing Web security 23% attack simulation (training) launch in 2020 Data loss prevention 22% Incident management 20% Intrusion detection and prevention 20% VPN and secure gateways 20% VPN for teams in market (hosted VPNs in development) Identity access management 18% Mobile device management 18%

22 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Privacy solutions: New business unit

76% of consumers are “more alarmed than ever” about their privacy and 87% want to do more to protect it1

REVENUE 2019 ACQUISITION ACCELERATION FIRST 9 MONTHS . . . Portfolio of VPN services that Acquired SaferVPN and Buffered VPN to protect consumers by encrypting 1. Corporate personal information and activity grow customer base leveraging existing Development while using the Internet VPN infrastructure

Launched VIPRE premium malware protection 2. Distribution + VPN bundle; embedded VPN Ookla Speedtest app

Businesses have attractive Added SugarSync secure file sync and recurring revenue growth, high 3. Bundling storage to IPVanish subscriptions – drive margins, and strong FCF online conversion and customer retention

1. NortonLifeLock Cyber Safety Insights Report 23 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Privacy3 solutions: Developing the future product suite

Solution Private Secure devices Secure file sharing Private phone #s Under evaluation connections (VPN) & Storage (examples)

Description Defends against Secures devices by Ensures files, Add second lines to Online tracking hackers and scanning file photos, and videos mobile phones for blocker surveillance when systems for are securely transactional and connecting to the infection and transferred from business use Private email internet ransomware endpoint to cloud addresses

Password management

J2 Cloud Services brand coverage

24 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Experienced senior management team

Arjen Berendsen Ron Burr Paula Croutch Lynn Johnson GM, Security GM, Voice CFO, Cloud Services HR Director Easynet Global Services PADI, CallFire, LRN, NetZero eHarmony, Andersen Cast & Crew, InterMedia (Interoute), KPN

John Nebergall Nick Nelson, Michael Pepe Tim Smith GM, Fax GM, Privacy GM, Martech GM, Backup Internet Brands, Orion Health, StackPath, Amazon, SV Investment Partners, Western Digital, Dell EMC, AllScripts Demand Media Dun & Bradstreet, Time Warner Credit Suisse 25 26 Ziff Davis Steve Horowitz, President

27 Introductions

Experience: • Bankrate • AOL • Yahoo • GeoCities • Bertelsmann • Turner Broadcasting Expertise: • eCommerce (affiliate and direct) • Marketplaces (online classifieds and personal finance) Steve Horowitz • Consumer and business subscription President, Ziff Davis services • M&A

28 Ziff Davis is a tech company intently focused on helping people research, decide, and act on important decisions in their personal and professional lives

29 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Fundamental change in foundation

From impression-based, CPM/RFP-dependent to customer-centric, performance-based, “always on” budgets

2014 2018

2013 2015 2017 2019

30 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Scale positions in attractive markets

Markets Example brands Description 2019 Revenue • Brand and editorial authority across consumer, SMB and B2B tech vertical

Tech • Decision-based content, delivering consumers vs. impressions $232MM

• Well-balanced portfolio: Primarily performance-based, licensing, media

• Industry leading brands and audiences across full gaming landscape: AAA to indie games Gaming $164MM • The gamer audience is the bullseye for entertainment industry

• Well-balanced portfolio: Subscriptions, publishing, media, commerce

• Industry-leading brands and product sets that span the broadband landscape

Broadband • At the center of end-customer satisfaction $104MM

• Well-balanced portfolio: Subscriptions and licensing, data and software

31 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Financial overview: Strong revenue growth

24% Revenue CAGR In 2019, 73% of Ziff Davis revenues were from non- ($ in MM USD) CPM-based sources

$499 2014 2019

$434 CAGR +24% 31% 27% $341 5% 64% $284

$216 31% $168 42%

Display/Video Ads Performance Subscription 2014 2015 2016 2017 2018 2019

32 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Ziff Davis: The most financially diversified at-scale tech organization

Audience Assets Engagement Yield 500MM+ 500K+ 23B+ 29MM+ Monthly visits Pieces of content Views / year Leads generated / year published / year 90MM+ 1MM+ 200MM+ 600K+ Social followers Deals & coupons Commerce clicks / year Paying subscribers curated / year 840MM+ 400MM+ 4B+ $1B+ Platform interactions / App downloads Reports generated / GMV facilitated / year year year

33 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Leader in tech: Brands that deliver customers, not just impressions Example content: Authoritative editorial content that instils confidence for important decisions

Prestigious brands with decades of user and algorithm trust

Play in the most valuable categories where intent volume and yield are highest

Multiple “rents” drive both revenue growth and margin expansion (ads, commerce, licensing, etc.)

Actionable content (“comtent”) reviews, recommendations, how to’s + page design, elements Direct merchant relationships that drive the best price, deal, and offer for the user, while optimizing ZD yield 34 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Case study: Monetizing intent with supply chain ownership and performance-based demand delivery

Organic Intent: SEO | | Email | Social Supply chain ownership “How to clean up Offers.com: “Best Black “Fastest VPN my PC” Coupon/Promo code harvesting “Best Friday deals” for my home” “iOS tips” “Best deal Comprehensive database and QA provides the laptops” “Best VOIP “crude oil” which is then processed/refined and System for on a 4K TV” brought to market: “comtent,” emails, deals SMBs” 30K merchants monitored > 1.7MM offers Sample of owned & operated brands: collected > 1.2MM after proprietary auto-filtering > 1.0MM after staff editorial review

1.0MM (published 35K Deals Codes annually)

Reviews Ratings Guides How-to’s Best of

Engagement

Direct relationships (000’s) • Merchants: Retail, DTC (AOS, AOV) Data, surveys, Display, Video Affiliate • Software: e.g., VPN, Anti-virus (LTV, Annuity) Licensing Subscriptions • ratings Advertising commerce Services: e.g., home security (LTV, Annuity)

35 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Case study: Event-based commerce strategy is a success

Ziff Davis combined Offers.com infrastructure with three holiday deals sites via micro-transactions

Total 2019 EBITDA Target Transaction date Description Growth strategy purchase price Contribution Provided scale to coupons and promo 12/15 codes, plus direct Existing O&O and BF relationships with sites grow ZD’s share merchants of online sales during the most important 11/17 shopping time of the Four holiday-shopping year (e.g., Layer in deal-aggregation sites $66.2MM $27.2MM ZD’s direct merchant across 3 transactions, relationships and 7/18 that added to our scale better monetizing ad in Ziff Davis’s core 2.4x units to drive revenue coupons and deals Total spend / 2019 growth during holiday vertical EBITDA Contribution time-period) 6/19 multiple

36 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System The leader in gaming: Brands that drive awareness and transactions—from indie to AAA, from console to PC

• 12MM lifetime paid customers across • 257MM users / month1 subscriptions, store, and digital bundles • #1 in gaming industry coverage, IGN owns • 57 indie games funded, 21 published to date the valuable gaming audience entertainment • $163MM donated to charity marketers covet most

Indie games AAA titles

1. 2019 Q4 IGN Data 37 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Case study: publishing propels the long- term business flywheel

Humble Publishing

+ Structure + Retail Sales value • Indie focus • HB published games sold • Finishing funds investment in HB store, Steam, etc. Subscriptions • Paid a % of sales, no cost to + Subscription value subscription business • Lower annual content costs • Licensing to other platforms • Unique, exclusive content

Publishing + Progress + 2020 Success story • 57 games invested • 21 games published to date • Published January, 2020 • ~20 titles to be published in 2020 • Indie hit, 500K units sold in first month Store

38 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Case study: IGN owns the valuable gaming audience

Global content powerhouse: IGN has best-in-class social reach: 41MM 1 • Published on 25+ owned & distributed platforms followers • 148MM users view IGN social content / month1 • Content published in 115 countries worldwide IGN #1 source for the Gamer Audience: People GameSpot • The gaming audience is the most-coveted EW audience in entertainment (IP and Platforms): Twitch IP Platforms ET

THR

Variety

Fandango

Polygon • IGN is the online entertainment “battleground” Fandom for awareness and subscriptions 10MM 20MM 30MM 40MM 1. As of December 2019 via Shareablee 39 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System At the center of the broadband economy: Cellular to WiFi, residential to business, planning to measurement

Cellular DAS 5G WiFi Fixed

• Mobile data • Distributed • Global 5G infra- • WiFi expected to • Fixed wireless traffic up 8-fold Antenna system structure market grow 7.5x with internet in past five demand is is poised to 51% CAGR from becoming viable years1 growing, with grow at a CAGR 2016-2022 alternative to • To increase 7x need for higher- of 54% during a • Mobile WiFi legacy DSL and by 20211 capacity and forecast period offload exceeds cable even coverage- of 2019-20253 cellular traffic1 maps2

Design/Planning Measurement Troubleshooting

Broadband services value chain

1. Cisco Visual Networking Index / VNI Complete Forecast | 2. Grand View Research Dist. Antenna Systems Technology Outlook 2019 | 3. Researchandmarkets.com 2019 40 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System At the center of the broadband economy: ZD’s brands span the broadband services value chain

Brand Description Design/Planning Measurement Troubleshooting

• Global leader in solutions for enterprise wireless network design and troubleshooting ü ü ü • 15K customers, 30% of Fortune 500

• is the industry leader in up-time measurement • ~50MM outage reports in 2019 ü ü

• Global standard in consumer internet performance measurement • 500MM+ unique users each year ü ü • 10MM+ active tests each day

• Enterprise operator analytics and network intelligence platforms built on top of Speedtest data ü ü ü • Clients in over 100 countries

41 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Growth opportunities: Five core investment tenets

Reviews, Rewards, Surveys / Research Crowdsourced Attribution M&A Ratings • Authoritative • Already a proven • Double-down on a • Privacy compliance • Aperture for M&A brands and content model (PCMag big source of data & • Future of the cookie has never been • Reader’s Choice) content larger, constantly MVC alignment • Registration: users • • evolving our • Existing and new Alignment to multiple Existing brands that to members & rents mindset leverage: approach and verticals subscribers resources • Benefits all parties • Speedtest • Experienced in all • Efficient content • Spiceworks shapes & sizes: source • Downdetector micro, large, restructure, enhance, business model agnostic

42 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Experienced senior management team

Mike Finnerty Shannon Hogan Geoff Inns Richard Jalichandra Jeff O’Mara GM, Ziff Media Group HR Director EVP, Global Revenue Ops GM, Global B2B GM, Ekahau The Weather Company, Bay Area News Group, CBS, CNET, Questico UK, 101 Commerce, ClickBank, Kite Hill Advisors, Comcast, PWC MediaNews Group Guardian News & Media Technorati Healthentic,

Alan Patmore Yael Prough Jason Sinnarajah Doug Suttles Brian Stewart GM, Humble Bundle GM, IGN Entertainment SVP, Strategy & Growth GM, Ookla CFO, Ziff Davis KIXEYE, Zynga, Double Fine, Fox Interactive Media, The Weather Company, Ookla Founder, Speakeasy, Encompass Digital Media, Surreal Studios/Midway Heavy.com, Ignited Minds UBS, InFocus Crown Media Family

43 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Investment highlights

• Growth-minded, diversified operating model across the Ziff Davis Division AND within each Business Unit • More than 2x revenue and EBITDA dollar growth over the past five years • Deliver customers and actionable intelligence, not just impressions and surface data • Proprietorship position of brands/audience, supply sources, demand relationships across meaningful and growth-oriented verticals: broadband, gaming, affiliate commerce • M&A experience and executional rigor compounds to increase our potential addressable assets • Highly experienced and deep management team

44 45 Everyday Health Group Dan Stone, President

46 Introductions

Experience: • AccentHealth • Scient; Imaginova • CNN.com; IAB • Turner Broadcasting; TBS Int’l. • Amsterdam Pacific; Kidder, Peabody • Booz, Allen & Hamilton Expertise: • Healthcare media • Digital media/eCommerce Dan Stone • Cable TV Networks President, Everyday Health Group • Strategic Planning/Corporate Finance

47 Everyday Health Group

Mission To drive better clinical and health outcomes through decision- making informed by highly relevant information, data and analytics

Approach To empower healthcare professionals and consumers with trusted content and services delivered through Everyday Health Group’s world-class brands

48 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Successful transformation from Everyday Health, Inc. (EVDY) to the Everyday Health Group (EHG) Division of J2

Publicly traded Everyday Health Group (EHG) Division of J2 (EVDY)

Acquired by J2 Global Acquisitions

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2016 2017 2018 2019 2020 Divestitures

Shrink to grow period Growth

49 49 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Financial snapshot: EHG is growing with diversified revenue streams Revenue growing 11% CAGR Diversified revenue streams ($ in MM USD) (2019)

Impression-based CAGR +11% $211.3 Action-based advertising2 advertising $171.0 $175.7

35% 41%

10% 14% Services / other1 Subscriptions 2017 2018 2019 1. Includes CME, Affiliate commerce, Licensing | 2. Includes Pharma display advertising subject to client and/or third-party ROI metrics 50 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Leading brands across attractive healthcare markets

Markets Example brands Description 2019 Revenue • Condition-specific consumer/patient-centric media serving primarily pharmaceutical advertisers Consumer $76MM

• Mayo-branded and curated subscription diet app

• Condition-specific Physician-centric content; strong affiliation with Professional $44MM medical societies; serving primarily pharmaceutical advertisers

Pregnancy & • Mom’s most trusted digital resources (apps, websites, newsletters, $49MM Parenting community)

• Leading brand in Continuing Medical Education (CME) for HCPs

• Leading HCP job listing site with strong affiliations with medical Provider Services societies $42MM (HCIT) • A leader in healthcare provider research and ratings for 28 years. Castle Connolly is a highly sought HCP honor and a trusted source for patients seeking the highest quality care and results

51 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Powerful marketing platforms

Consumer Professional Pregnancy & Provider Services Parenting

• 49MM Monthly • 830K US Physician • #1 and #2 Pregnancy • 1.2MM cumulative Unique Visitors Digital reach apps job-seeking HCPs • 30MM Monthly • 80% Reach in over 30 • 90% US pregnancies • 27 HCP Job-listing Social Reach MD specialties register each year Medical Societies • 46 Engaged • 180K CME • 2.2MM Active • 90% reach among first- Condition Audiences Certificates issued Monthly Website time moms annually • 45% Millennials and Users Gen Z • 15MM Global • 60K Castle Connolly • 65% Mobile/35% newsletter subs Top Doctors • 2,300 Daily 1st Party Desktop Health segments • App downloaded every • Castle Connolly • 60% PVs consumed 4 seconds doctors practice at at work all top 20 ranked • 27MM Monthly US hospitals Unduplicated Visitors; 50MM Global

Sources: Comscore, Google Analytics, Priori Data 52 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Defensible competitive position with sustainable barriers to entry Markets Brands Competitive positioning Barriers to entry • #3 Largest consumer digital network • Significant investment over many years in SEO-friendly, authoritative content • Focused on healthcare and self-care Consumer • Safe, health data-enabled products • MayoClinic.org is the largest healthcare “.org” by factor of 8x • Mayo brand authority; SEO performance

• #2 on-line ad-supported HCP news site driven by • Physicians have limited time to review daily, targeted newsletters medical news Professional • Significant investment over many years in • Indispensable resource for healthcare professionals SEO-friendly, authoritative content • #1 Digital resource for expectant and pregnant • Hold majority market share across the two Pregnancy & parents most well-known brands. • 90% of US pregnancies registered each year Parenting • Continually upgrading content and tools to • Published in 9 languages (BabyCenter) enhance partner monetization

• A top 10 CME brand in a highly fragmented market • PRIME has a sterling reputation evidenced by industry awards and outcomes research results

Provider Services • #1 job listing site for HCPs • Broad partnerships with leading medical (HCIT) societies • #1 Peer-nominated doctor's ratings business • Castle Connolly brand recognition and perceived value of brand as a credible referral source

53 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Everyday Health Group offers a broad set of market solutions Pregnancy & Peer Companies Ownership Consumer Professional Parenting Provider Services

• J2 Global ü ü ü ü • Public tender 11/16

• Internet Brands / KKR ü ü ü • Public tender 9/17

• Red Ventures / Silver Lake ü ü • Sold by Summit Partners 7/19

• Vestar Capital Partners ü ü ü • Public tender 7/10

54 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Favorable healthcare and pharma market dynamics

• Aging population and rise of the Millennials—Patients and Doctors Demographics • The continued consumerization of healthcare, combining healthcare and self-care

• Rise in high-deductible health plans; cash-pay consumers Payers/Employers • Self-insured employers; focus on employee health & wellness

• More rapid FDA drug approvals focused on targeted, high-value patient populations Pharmaceuticals • Physician access challenges for Pharma reps leading to rise in non-personal promotion

• Focus on healthcare/Rx pricing, transparency and medical necessity Healthcare Systems • Increasing need and demand for “Care Coordination” and healthcare navigation— matching the right patients/right providers/right treatments—across the Patient Journey

• Under-penetration of digital media spend in Healthcare relative to other verticals Healthcare Media / • Focus on “big data” and AI increases efficiencies and improves outcomes HCIT • Rise of digital solutions across the value chain - The “Digitally-enabled Consumer”

55 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Favorable healthcare and pharma market dynamics

US Healthcare expenditures are at 18% of GDP and growing1 Global pharmaceutical growth is accelerating with aging population ($ in Billions USD) and demand for more complex specialty drugs2 $3,675 $3,337 $3,489 ($ in Billions USD) $3,201 CAGR +7% $2,599 $1,204 CAGR +4% $1,070 $1,134 $997 $926 $830 $872 $743 $769 $789 $1,370

$721 $255 $27 $75 % of 1960 1970 1980 1990 2000 2010 2015 2016 2017E 2018E 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 US GDP 5% 7% 9% 12% 13% 17% 18% 18% 18% 18% US Healthcare ad spend growing at a 12% CAGR with digital spend growing at 15% CAGR3 ($ in Billions USD) CAGR Pharma Digital Marketing Spend 12% $15.0 Pharma Non-Digital Marketing Spend $13.4 15% $12.0 $3.1 $10.8 $2.8 $9.7 $2.5 $2.0 $1.8 11% $11.9 $9.5 $10.6 $7.9 $8.8

2015 2016 2017 2018 2019

1. Center for Medicare and Medicaid Services | 2. EvaluatePharma World Preview 2018, Outlook to 2024 | 3. Kantar Media 56 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Favorable healthcare and pharma market dynamics

Digital ad spend in the healthcare vertical has trailed other verticals1 Share of global healthcare digital spend expected to increase2 (Top ad-spend industries in 2018) 49% 46% Retail 21.9% 2018 42% Automotive 12.6% 2021 Financial services 12.2% 34% Telecom 10.7% CPG & Consumer Products 8.8% 24% Travel 8.0% Consumer Electronics 7.8% 17% Media 6.1% Entertainment 5.1% 4% 5% 4% 4% Healthcare & Pharma 2.6% 1% 1% 1% 1% Other 4.3% Newspapers Magazines TV Radio Cinema OOH Internet Advertising makes up only 6% of total HCP healthcare marketing spend3… …But has been increasing as “Personal Promotion” / Detailing access declines4 (% of accessible physicians for pharma sales) Advertising Speaker fees 6% 6% 100%

80% Detailing 26% 60% 46% 40%

20% 62% Sampling 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1. eMarketer (2018) | 2. Zenith | 3. JAMA, Kantar, CMI Media | 4. ZS Associates Access Monitor 57 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Attractive growth prospects across multiple vectors

Patients / Employees Connections • Connecting Patients with Services & Tools • Connecting Patients with Providers • Connecting & Supporting Providers • Connecting Employers/Payers with Employees

Services

Employers / Providers Payers

58 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Everyday Health Group sits at the nexus of Healthcare Digital Media and Healthcare IT (HCIT)

Healthcare Healthcare IT Digital Media

Key = Public companies 59 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System M&A case study: Provider Services

Date of Total purchase 2019 EBITDA Target Business description Growth strategy acquisition price Contribution

Shrink-to-grow, i.e., deeper The leading recruitment and penetration of high-value career resource for the 10/17 verticals; margin healthcare industry. improvement. $83.8MM $15.3MM1 PRIME is a renowned Revenue growth through continuing medical 8/18 investment in grant writing education (CME) company. capacity.

5.5x Total spend/ 2019 EBITDA contribution multiple

1. Before adjustments for deferred revenue of $685K and shared overhead 60 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Attractive growth prospects along the Patient Journey

Online condition E-Visit research Select Symptom/ provider/ Appointment Need method follow-up Off/online Book Point- doctor research appointment of-care

Condition/ Referrals/ Ratings Health mgmt./ Care Coord. Surveys & Adherence Reviews

Key

= Existing capabilities

= New priority areas

61 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Attractive growth prospects along the Patient Journey

Consumers prefer the internet for gathering provider info1 While the Telemedicine market is poised to explode2 (top 5 sources n=1K) (US Telemedicine market $ in Billions USD)

54% CAGR +19% 39% 35% 33% $64.1 27%

The internet Healthcare A friend or Insurance Hospital or health professional family member company system staff Younger patients prefer online appointment booking by 2x1 (Consumers’ preferred means of booking appointment by age group)

67% Millenials Gen Xers $19.5 46% 47% 40% Baby Boomers 35%

18% 15% 10% 13%

Phone Online Other 2018 2025

1. 2017 Patient Access Report, Kyruus Survey | 2. Global Market Insights 62 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Experienced senior management team

Jeff Blatt Heidi Cho Nan-Kirsten Forte EVP/GM, Professional EVP/GM, Pregnancy & Parenting EVP/GM, Consumer Amazon, Time Inc. Rodale, Hearst, Hachette WebMD, Healthline Media, HealthTap

Brian Bussey Greg Chang Tom Dehn Deb Goetz MD, PRIME Education MD, Health eCareers Senior Vice President, FP&A VP, Human Resources Akoya Capital Partners, forMD, Duke Medical Center Fitch Solutions, Imaginova, Defy Media, BBC Worldwide Elsevier, HCPro Geller & Co., KPMG 63 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Investment highlights

• Successful financial and business evolution since November 2016 EVDY acquisition • Strong growth trajectory and diversified revenue streams • Powerful and differentiated Consumer/Patient and Provider engagement platforms • Strong and defensible competitive position across healthcare markets • Favorable digital healthcare market tailwinds driving massive market potential • Well-developed organic and M&A-driven total growth strategy • Highly experienced and deep management team

64 65 J2 Acquisition System Sean Alford, SVP Corporate Development

66 Introductions

Experience • Proskauer Rose • Comcast / NBCUniversal

Expertise: • Mergers & Acquisitions • Joint Ventures and Strategic Investments • Technology, Media & Telecommunications • Corporate Law

Sean Alford SVP, Corporate Development

67 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System A proven platform for M&A

J2 Global revenue and select acquisitions ($ in MM USD)

$1,500 Everyday Health Ziff Davis Cloud Services

$1,000

$500 Since 2010: • 150+ Acquisitions • Revenue $2.5B+ Allocated to M&A

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Deal Count: 13 22 29 24 22 15 11 12 M&A Cash Spend1: ~$200MM ~$125MM ~$260MM ~$315MM ~$535MM2 ~$185MM ~$315MM ~$435MM

1. “M&A Cash Spend” is defined as the summation of (i) acquisition costs net of cash received and (ii) deferred payments for acquisitions from the consolidated statement of cash flows 2. Net of cash proceeds from Everyday Health divestitures (Tea Leaves and Cambridge BioMarketing) 68 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System With a track record of success

J2 adds value post-close that drives down purchase price multiples over time. A playbook of synergy and optimization translates to attractive purchase prices relative to forward EBITDA Contribution

Year of acquisition: 2014 Purchase price / 2019 EBITDA Contribution: ~4.1x

Year of acquisition: 2015 Purchase price / 2019 EBITDA Contribution: ~2.9x

Year of acquisition: 2015 Purchase price / 2019 EBITDA Contribution: ~3.2x

Year of acquisition: 2017 Purchase price / 2019 EBITDA Contribution: ~2.2x

Year of acquisition: 2017 Purchase price / 2019 EBITDA Contribution: ~2.7x

Year of acquisition: 2018 Purchase price / 2019 EBITDA Contribution: ~7.3x

Year of acquisition: 2018 Purchase price / 2019 EBITDA Contribution: ~7.8x

69 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System The J2 Global M&A Toolkit

Flywheel Advantage Access to capital, operating talent, sector expertise and transaction expertise creates a virtuous cycle

Flywheel Sourcing Sourcing Network Advantage Network Culture of M&A and competition for resources results in a high volume of prospective targets from across the organization

Programmatic Review Process Systematic gates and checkpoints ensure that only the best Programmatic opportunities making it to close Operational Review Enhancements Process Disciplined Deal-Making Adherence to valuation discipline and a focus on free cash flow results in outsized internal rates of return on investments

Operational Enhancements Disciplined Commitment to Operational infrastructure and sector expertise unlock synergy Deal-Making Integrity advantages that differentiate us from other buyers

Commitment to Integrity Institutional commitment to treating colleagues, counterparties and advisors with respect fosters trust and efficiency

70 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System The J2 Global Flywheel Advantage

Small Companies Large Enterprises Private Equity J2 Global

Transactional Operational Transactional Operational Transactional Operational Transactional Operational Expertise Expertise Expertise Expertise Expertise Expertise Expertise Expertise

Access to Capital Access to Capital Access to Capital Access to Capital

J2 has built a multi-faceted acquisition machine with Operational Expertise, Transactional Expertise, and Access to Capital that leverages a programmatic approach to sourcing, analysis, and execution

71 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System J2 Sourcing Program: An institutional priority

J2 Global Parent Ziff Davis Cloud Services

Themes: • New categories at scale Themes: • Value-enhancing transactions Themes: • Technology & culture publishing • SMBE enablement • Online Purchase Companion • Online Privacy & Security • Gaming & Entertainment • Secure file transfer tools • Broadband insights and services • SMB marketing technology

Everyday Health Group Third Parties

• Investment Banks M&A Program • Private Equity Funds • Analyze • Executive Network Themes: • Prioritize Themes: • The Patient Journey • Execute • TMT universe • Condition-specific content • Opportunistic inbounds • Pregnancy & Parenting • Turnaround situations • Healthcare Provider tools & services • Capital Partner to seasoned execs

72 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System Disciplined Deal-Making: Fundamentals-focused, value-oriented

Focus on fundamental metrics Free Cash Flow Build bottom-up, Identify cost-saving (IRR, ROIC, Payback Period) is king line-by-line opportunities

Prioritize high-margin, Favor asset-light opportunities Embrace the Socratic Method, Err on the side of high-recurring-revenue (Low Capex requirements) challenge assumptions conservatism business models

73 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System J2’s Programmatic Process: Systematic review, selection and execution

Watchlist Criteria to Advance: Corporate Development Sponsor (CD) Resource Intensity: Very low High Low Initial Review Criteria to Advance: CD, Operating Sponsor (OS) Number of Opportunities Resource Intensity: Low

Active Diligence Criteria to Advance: CD, OS, Senior Executive Sponsor (SE) Resource Intensity: Medium

Negotiation Criteria to Advance: CD, OS, SE, Support from CEO and CFO (CEO/CFO) Resource Intensity: High

Live Criteria to Advance: CD, OS, SE, CEO/CFO, J2 Board of Directors Deal Level of Scrutiny / Confidence Level Resource Intensity: Very high

Low High

CLOSED TRANSACTION

74 J2 Global Cloud Services Ziff Davis Everyday Health J2 Acquisition System 2019 M&A Summary

~$435MM 12 9 400+ Cash Spend Acquisitions Proprietary Opportunities Transactions Reviewed

8 <$1MM >$200MM Subsectors / Smallest Largest Business Units Transaction Transaction

75 76 Fireside Chat Vivek Shah, CEO | J2 Global Dan Ives, Managing Director, Equity Research | Wedbush Securities

77 78 Q&A J2 Global Team

79 80 81 Supplemental Information

82 Return on Invested Capital (ROIC) calculation

1. Cumulative spend based on PPE, purchase of acquisitions (net of proceeds from sale of businesses), purchase of intangibles and deferred payments for acquisitions from Statement of Cash Flow 2. Adjusted EBITDA is defined as net income plus interest and other expense, net; income tax expense; depreciation and amortization and the items used to reconcile GAAP to Adjusted Non-GAAP EPS. Adjusted EBITDA amounts are not meant as a substitute for GAAP, but are solely for informational purposes. See additional slides for GAAP reconciliation to adjusted EBITDA 3. Figures are adjusted non-GAAP 4. Investment Equity Capital defined as Initial Equity plus Equity Issued in an Acquisition plus GAAP Net Income less Dividends less Buybacks; excludes SBC, equity grants and ESPP 5. Net Debt defined as Total Debt less Cash

83 FY 2019 Reconciliation of GAAP to Adjusted EBITDA1 ($ in MM USD)

NOTE 1: Table above excludes certain intercompany allocations

NOTE 2: The table above is impacted by certain expenses associated with the Corporate entity that were allocated to the Cloud Services business and the Digital Media business as these costs are shared costs incurred by the Corporate entity. As a result, expenses were allocated from Corporate to Cloud Services and Digital Media in the amount of $9.7 million and $10.6 million, respectively.

The effects noted above reduce Adjusted EBITDA for Cloud Services and Digital Media by $9.7 million and $10.6 million, respectively

1. Figures are adjusted non-GAAP

84 FY 2018 Reconciliation of GAAP to Adjusted EBITDA1 ($ in MM USD)

NOTE 1: Table above excludes certain intercompany allocations

NOTE 2: The table above is impacted by certain expenses associated with the Corporate entity that were allocated to the Cloud Services business and Digital Media business as these costs are shared costs incurred by the Corporate entity. As a result, expenses were allocated from Corporate to Cloud Services and Digital Media in the amount of $6.1 million and $5.9 million, respectively.

The effects noted above reduce Adjusted EBITDA for Cloud Services and Digital Media by $6.1 million and $5.9 million, respectively

1. Figures are adjusted non-GAAP

85 Reconciliation of GAAP to Adjusted EBITDA by Segment ($ in MM USD)

1. Figures are adjusted non-GAAP

86 GAAP Reconciliation: Free Cash Flow1,2

1. Free Cash Flow is defined as net cash provided by operating activities, less purchases of property, plant and equipment, less patent settlement, plus excess tax benefits (deficits) from share based compensation, plus IRS settlement, plus contingent consideration. Free Cash Flow amounts are not meant as a substitute for GAAP, but are solely for informational purposes 2. Figures are adjusted non-GAAP

87 GAAP Reconciliation: Adjusted EBITDA1, 2

1. Adjusted EBITDA is defined as net income plus interest and other expense, net; income tax expense; depreciation and amortization and the items used to reconcile GAAP to Adjusted Non-GAAP EPS. Adjusted EBITDA amounts are not meant as a substitute for GAAP, but are solely for informational purposes 2. Figures are adjusted non-GAAP

88