Scoreboard

Margin % Growth % Multiples IT & IT-ENABLED OUTSOURCED SERVICES GM EBITDA Revenue 5 Yr EPS EV/Revenue EV/EBITDA P/E IT Services - North America 30.7% 12.1% 20.1% 12.3% 1.51x 13.2x 19.9x IT Services - Europe 15.3 14.1 23.5 16.3 1.32 9.9 20.7 IT Services - India 20.1 18.1 25.5 19.5 3.15 15.7 24.3 IT Services - China 27.6 8.4 72.2 20.9 1.34 17.8 23.0 IT Staff Augmentation 25.2 6.7 8.5 15.3 0.95 12.6 20.2

IT SUPPLY CHAIN SERVICES IT Solution Providers - North America 17.2% 6.9% 23.5% 10.6% 0.74x 11.8x 19.6x IT Solution Providers - Europe 14.4 5.8 38.7 12.5 0.68 11.3 21.7 IT Products Distributors 10.4 3.9 0.0 12.0 0.29 8.9 13.1

SOFTWARE SaaS 71.8% 15.5% 62.7% 21.7% 7.70x 28.6x 39.8x Enterprise Applications 77.1 29.3 31.7 13.9 7.19 16.0 25.1 Cyber Security 75.7 13.5 39.9 15.3 6.45 16.0 27.9

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT Services - North America '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Plc Class A $280.88 95.4% $186,817 $176,378 $45,677 $50,326 $9,070 $9,424 23.4% 31.8% 19.1% 3.86x 3.50x 19.4x 18.7x 33.2x 31.9x 9.5% EPAM Systems, Inc. 478.59 97.5 26,995 27,001 2,789 3,451 536 654 87.2 32.2 19.2 9.68x 7.82x NA 41.3 80.0 61.7 21.4 CGI Inc. Class A 90.03 98.3 19,941 25,114 9,962 10,231 2,012 2,064 15.2 14.3 18.7 2.52x 2.45x 12.5 12.2 23.3 19.6 5.8 Holding Corporation Class84.96 A 84.7 11,504 13,468 7,859 8,321 892 881 26.6 22.8 11.3 1.71x 1.62x 15.1 15.3 19.5 20.7 11.8 DXC Technology Co. 38.11 97.9 9,711 14,020 17,729 17,003 2,023 2,674 -21.6 9.0 11.4 0.79x 0.82x 6.9 5.2 NA 11.7 27.8 Genpact Limited 45.85 93.6 8,588 10,287 3,728 3,976 669 753 32.5 34.5 17.9 2.76x 2.59x 15.4 13.7 28.5 19.9 10.7 CACI International Inc Class A 256.13 96.2 6,032 8,599 5,976 6,192 760 681 30.9 33.2 12.7 1.44x 1.39x 11.3 12.6 15.7 14.7 12.1 ManTech International Corporation Class A 88.54 87.4 2,428 3,742 2,541 2,670 264 249 36.3 12.3 10.4 1.47x 1.40x 14.2 15.1 29.0 25.0 5.5 Perficient, Inc. 72.46 96.8 2,395 2,544 636 705 107 144 41.4 33.1 16.8 4.00x 3.61x 23.8 17.6 68.1 23.3 14.0 Corporation 25.88 92.7 1,735 1,595 2,021 2,050 334 356 -27.4 25.9 16.5 0.79x 0.78x 4.8 4.5 NA 14.9 18.0 ICF International, Inc. 91.26 93.9 1,719 2,154 1,527 1,564 151 153 16.9 34.0 8.8 1.41x 1.38x 14.3 14.1 27.8 19.9 12.3 Hackett Group, Inc. 17.89 94.5 539 541 233 261 25 52 -8.7 29.7 11.1 2.32x 2.07x 21.5 10.4 98.0 16.3 16.3 Information Services Group, Inc. 5.90 93.4 283 341 252 259 23 32 -6.1 38.1 9.2 1.35x 1.32x 14.6 10.6 40.0 38.7 16.0 RCM Technologies, Inc. 3.78 30.3 42 69 150 179 2 6 -10.6 25.0 1.5 0.46x 0.39x 31.9 10.9 NA 14.3 NA

Median 20.1%30.7%12.1%1.59x1.51x14.6x13.2x29.0x19.9x12.3% Mean 16.9% 26.9% 13.2% 2.47x 2.22x 15.8x 14.4x 42.1x 23.8x 13.9%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT Services - Europe '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Amadeus IT Group SA Class A $75.80 96.0% $34,146 $37,887 $2,004 $3,776 NA $974 -32.9% -43.2% -15.1% 18.91x 10.03x NA 38.9x NA NA 105.0% SE 186.86 97.1 31,539 39,443 19,258 20,880 2,935 3,276 40.3 25.4 15.2 2.05x 1.89x 13.4 12.0 26.9 19.8 12.5 Sage Group plc 9.27 91.7 9,961 10,374 2,628 2,642 633 601 9.9 87.5 24.1 3.95x 3.93x 16.4 17.3 31.0 27.6 3.0 Globant SA 213.57 87.3 8,827 8,689 893 1,135 148 222 117.3 33.2 18.2 9.73x 7.66x NA 39.1 NA 62.8 NA SE 66.12 69.1 7,273 9,428 13,587 13,827 1,970 1,888 -0.6 20.5 14.5 0.69x 0.68x 4.8 5.0 10.8 7.7 7.8 Reply S.p.A. 160.90 98.7 6,019 5,826 1,519 1,744 229 286 48.9 42.2 15.1 3.84x 3.34x 25.4 20.3 40.1 36.3 NA Netcompany Group A/S 117.24 98.4 5,862 5,908 490 558 141 156 78.4 35.8 28.8 12.06x 10.59x 41.8 37.9 82.2 50.6 16.3 Alten SA 124.29 94.0 4,258 4,187 2,834 3,182 339 320 23.5 15.3 10.8 1.48x 1.32x 12.4 13.1 35.6 25.3 20.7 TietoEVRY Oyj 32.08 90.4 3,799 4,926 3,386 3,425 643 627 88.2 15.9 19.0 1.45x 1.44x 7.7 7.9 33.1 11.5 NA Group SA 184.16 96.3 3,782 4,710 5,180 5,555 581 612 19.6 13.6 11.2 0.91x 0.85x 8.1 7.7 28.7 14.6 10.1 Endava Plc Sponsored ADR Class A 103.63 98.3 3,575 5,883 525 717 102 176 122.6 32.0 19.5 11.20x 8.20x NA 33.5 NA 53.8 19.5 Kainos Group PLC 20.27 85.6 2,488 2,420 331 357 73 84 103.0 50.4 22.1 7.32x 6.77x 33.1 28.8 44.3 38.8 NA Indra Sistemas, S.A. Class A 8.83 82.8 1,560 2,322 3,718 3,849 170 391 8.7 14.4 4.2 0.62x 0.60x 13.6 5.9 NA 10.6 33.2 Devoteam SA 127.59 94.1 1,063 977 924 969 112 113 31.3 13.1 12.2 1.06x 1.01x 8.7 8.7 21.1 18.8 NA Wavestone SA 46.04 94.7 930 976 504 538 71 81 24.7 21.6 14.1 1.94x 1.81x 13.8 12.1 26.2 21.1 NA Neurones SA 36.61 98.9 887 649 637 685 80 89 23.7 13.1 12.6 1.02x 0.95x 8.1 7.3 23.6 20.3 NA Aubay SA 51.43 95.9 680 650 518 553 59 66 21.6 10.5 11.5 1.25x 1.17x 11.0 9.9 21.4 18.7 NA NNIT A/S 20.94 91.4 524 605 464 480 64 70 4.4 13.2 13.7 1.30x 1.26x 9.5 8.7 43.9 21.2 4.0 Allgeier SE 29.08 26.7 331 382 558 463 60 40 -39.6 4.7 5.6 0.68x 0.82x 6.4 9.5 NA 37.5 25.7 Columbus A/S 1.93 76.4 250 131 267 324 21 36 13.9 10.5 6.0 0.49x 0.40x 6.3 3.7 14.2 17.4 NA Prodware SA 7.03 84.0 54 190 209 215 58 61 8.5 11.4 26.4 0.90x 0.88x 3.2 3.1 4.0 4.3 NA

Median 23.5% 15.3% 14.1% 1.45x 1.32x 10.2x 9.9x 27.8x 20.7x 16.3% Mean 34.1% 21.0% 13.8% 3.95x 3.12x 13.5x 15.7x 30.4x 25.9x 23.4%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT Services - India '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Tata Consultancy Services Limited $43.26 94.3% $160,005 $157,676 $22,426 $25,233 $6,358 $7,161 23.3% 32.7% 28.4% 7.03x 6.25x 24.8x 22.0x 36.5x 30.5x 14.5% Infosys Limited 19.03 96.5 81,095 77,702 13,724 15,446 3,870 4,183 33.3 30.0 28.2 5.66x 5.03x 20.1 18.6 30.5 27.2 13.9 Wipro Limited 7.44 99.2 40,789 38,872 8,461 9,702 2,032 2,235 16.2 31.7 24.0 4.59x 4.01x 19.1 17.4 28.5 26.9 9.0 Technology Solutions Corporation71.19 Class A 86.1 37,546 37,359 16,828 18,004 2,907 3,353 11.7 33.0 17.3 2.22x 2.07x 12.9 11.1 25.0 17.9 9.7 HCL Technologies Limited 13.04 88.8 35,383 34,143 10,297 11,362 2,739 2,918 33.9 26.6 26.6 3.32x 3.01x 12.5 11.7 23.2 18.9 10.3 Tech Mahindra Limited 14.13 95.9 13,690 11,185 5,171 5,639 935 1,049 15.7 32.0 18.1 2.16x 1.98x 12.0 10.7 20.4 17.7 12.2 Larsen & Toubro Infotech Ltd 53.34 86.6 9,323 8,880 1,690 1,931 372 408 47.7 20.9 22.0 5.26x 4.60x 23.9 21.8 35.2 31.7 25.0 Mindtree Limited 33.17 99.8 5,463 5,172 1,088 1,233 226 256 27.7 17.5 20.8 4.75x 4.19x 22.9 20.2 36.0 31.5 24.1 Mphasis Limited 26.73 96.6 5,000 4,858 1,328 1,473 246 277 36.7 16.1 18.5 3.66x 3.30x 19.7 17.5 30.0 26.4 17.4 Oracle Financial Services Software Limited 48.16 93.1 4,147 3,496 681 720 337 - 2.8 50.8 49.5 5.14x 4.86x 10.4 NA 17.2 16.5 NA L&T Technology Services Ltd. 36.84 89.9 3,870 3,717 744 845 138 168 23.3 14.5 18.5 4.99x 4.40x 27.0 22.1 42.6 33.8 23.5 Coforge Limited 49.21 99.4 2,982 2,924 637 779 106 144 53.0 31.5 16.7 4.59x 3.75x 27.5 20.4 48.2 36.9 20.3 Persistent Systems Limited 34.17 95.6 2,611 2,407 572 657 96 109 38.3 17.7 16.8 4.21x 3.66x 25.0 22.0 42.4 35.1 21.7 Cyient Limited 11.15 97.0 1,227 1,105 564 623 84 103 -3.3 19.0 14.8 1.96x 1.77x 13.2 10.7 24.7 20.0 19.5 Birlasoft Limited 4.27 90.7 1,185 1,078 486 536 72 83 NA 12.6 14.9 2.22x 2.01x 14.9 13.0 27.1 22.2 23.0 Sonata Software Limited 9.06 93.9 953 852 578 668 52 62 63.7 13.5 9.0 1.48x 1.28x 16.4 13.7 28.2 20.4 NA KPIT Technologies Limited 3.23 93.8 885 794 278 315 42 50 NA 27.6 15.2 2.86x 2.52x 18.7 15.7 45.3 30.4 31.3 Zensar Technologies Limited 3.87 80.9 872 791 517 528 94 93 -3.3 20.9 18.1 1.53x 1.50x 8.5 8.5 21.3 17.2 13.7 Mastek Limited 26.59 93.3 672 634 235 278 52 59 94.7 19.4 22.0 2.70x 2.28x 12.3 10.7 22.9 22.1 21.0 Sonda S.A. 0.59 69.0 511 688 1,077 1,095 137 136 -10.9 17.4 12.8 0.64x 0.63x 5.0 5.1 NA 14.7 NA Sasken Technologies Ltd 13.17 92.6 198 181 61 - 18 - NA 27.1 29.3 2.98x NA 10.2 NA 12.6 NA NA 3i Infotech Limited 0.12 89.1 197 178 83 - NA - NA 6.5 -5.7 2.14x NA NA NA 3.7 NA NA Xchanging Solutions Limited 0.97 70.9 108 58 26 - 8 - NA NA NA 2.21x NA 7.3 NA 11.8 NA NA Allied Digital Services Limited 0.86 83.1 43 44 49 - 6 - NA 18.9 12.5 0.91x NA 7.3 NA 16.4 NA NA Rolta India Limited 0.08 82.6 14 649 181 - NA - NA -10.4 -9.7 3.60x NA NA NA NA NA NA

Median 25.5% 20.1% 18.1% 2.98x 3.15x 14.9x 15.7x 27.1x 24.3x 19.5% Mean 28.0% 22.0% 18.3% 3.31x 3.16x 16.1x 15.4x 27.4x 24.9x 18.2%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT - China '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Inspur Electronic Information Industry Co., Ltd.$4.56 Class A 65.9% $6,634 $6,204 $9,856 $11,813 $313 $382 69.1% 12.1% 2.0% 0.63x 0.53x 19.8x 16.2x 27.1x 23.0x NA Chinasoft International Ltd. 1.27 87.5 3,700 3,304 2,041 2,725 284 266 72.2 29.2 9.4 1.62x 1.21x 11.6 12.4 23.2 19.4 20.9 Wonders Information Co., Ltd. Class A 2.37 53.6 2,776 3,183 550 640 NA 86 95.5 18.1 -57.9 5.78x 4.97x NA 37.1 NA 75.3 NA Beijing Thunisoft Corporation Limited Class A2.95 66.7 2,446 2,167 549 826 56 118 105.5 35.6 12.5 3.95x 2.62x 38.4 18.3 42.6 20.9 NA Neusoft Corporation Class A 1.56 79.0 1,933 1,936 1,216 1,440 41 109 34.9 27.6 4.0 1.59x 1.34x 47.1 17.8 76.3 43.1 NA Shanghai 2345 Network Holding Group Co., Ltd.0.32 Class A 65.5 1,849 1,093 176 - 42 - NA 40.8 32.1 6.21x NA 25.8 NA NA NA NA Beijing Teamsun Technology Co., Ltd. Class 1.06A 43.6 1,161 1,247 605 - NA - NA 11.6 -1.3 2.06x NA NA NA 56.8 NA NA Insigma Technology Co. Ltd. Class A 1.00 67.5 1,031 1,044 621 - 57 - NA 29.9 8.7 1.68x NA 18.2 NA NA NA NA Beyondsoft Corporation Class A 1.54 91.5 818 623 702 - 73 - NA 25.8 8.4 0.89x NA 8.5 NA 13.8 NA NA Shenzhen Forms Syntron Information Co., Ltd.2.82 Class A 63.8 799 739 97 - 14 - NA 46.8 17.2 7.65x NA NA NA 67.7 NA NA Wiscom System Co., Ltd. Class A 1.33 88.5 538 562 295 - 21 - NA 25.5 7.6 1.90x NA 26.4 NA 39.9 NA NA Bringspring Science & Technology Co., Ltd. Class0.80 A 62.7 512 483 129 - 15 - NA 39.4 9.3 3.76x NA 32.0 NA 31.1 NA NA Ronglian Group Ltd. Class A 0.75 69.6 503 493 465 - NA - NA 7.2 4.1 1.06x NA NA NA NA NA NA

Median 72.2%27.6%8.4%1.90x1.34x25.8x17.8x39.9x23.0x20.9% Mean 75.5% 26.9% 4.3% 2.98x 2.14x 25.3x 20.4x 42.1x 36.3x 20.9%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT Staff Augmentation '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Robert Half International Inc. $90.27 98.9% $10,181 $9,945 $5,001 $5,919 $423 $690 2.1% 38.0% 8.3% 1.99x 1.68x 23.5x 14.4x 31.2x 21.9x 15.5% ManpowerGroup Inc. 122.45 97.9 6,677 6,790 18,306 20,658 459 622 -6.1 15.7 2.5 0.37x 0.33x 14.8 10.9 81.1 19.6 23.1 ASGN Inc 103.90 94.0 5,527 6,310 3,986 4,309 405 469 26.7 25.2 10.1 1.58x 1.46x 15.6 13.5 27.0 20.2 8.9 Insperity, Inc. 91.66 95.7 3,545 3,426 4,344 4,673 225 251 22.0 18.2 5.2 0.79x 0.73x 15.2 13.6 25.8 22.3 17.5 PageGroup PLC 8.51 97.2 2,797 2,635 1,838 2,212 111 212 8.5 46.8 6.0 1.43x 1.19x 23.7 12.4 NA 27.4 NA TechnoPro Holdings Inc. 70.20 78.4 2,537 2,450 1,458 1,483 177 181 24.8 22.7 12.1 1.68x 1.65x 13.9 13.5 22.7 22.6 8.9 Kforce Inc. 63.76 99.5 1,397 1,379 1,426 1,498 97 109 5.6 27.7 6.7 0.97x 0.92x 14.2 12.7 22.8 20.3 15.0 Kelly Services, Inc. Class A 25.79 95.6 1,014 863 4,461 5,130 78 101 -7.0 18.1 1.7 0.19x 0.17x 11.1 8.5 9.6 16.8 15.0 Heidrick & Struggles International, Inc. 43.89 94.7 856 811 649 843 86 112 17.7 24.5 13.5 1.25x 0.96x 9.4 7.2 NA 14.4 15.0 Mastech Digital, Inc. 16.10 53.7 184 205 193 216 17 - NA 25.2 8.9 1.06x 0.95x 12.4 NA 21.0 15.3 20.0 Hudson Global, Inc. 18.94 95.2 51 32 112 144 NA 4 NA 37.3 -1.3 0.29x 0.22x NA 7.1 NA 13.5 25.0

Median 8.5%25.2%6.7%1.06x0.95x14.5x12.6x24.3x20.2x15.3% Mean 10.5% 27.2% 6.7% 1.05x 0.93x 15.4x 11.4x 30.2x 19.5x 16.4%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT Solution Provider - North America '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate CDW Corp. $163.87 88.8% $22,975 $27,012 $18,916 $20,052 $1,645 $1,641 23.5% 17.2% 8.7% 1.43x 1.35x 16.4x 16.5x 27.7x 22.2x 10.6% Insight Enterprises, Inc. 104.30 98.0 3,684 4,415 8,390 8,896 352 374 25.6 14.8 4.2 0.53x 0.50x 12.5 11.8 20.5 15.5 10.5 PC Connection, Inc. 48.84 88.5 1,279 1,208 2,515 2,773 80 102 2.7 15.6 3.2 0.48x 0.44x 15.1 11.8 25.2 19.6 10.0 ePlus inc. 92.81 86.2 1,253 1,198 1,554 1,625 114 128 17.6 23.5 7.3 0.77x 0.74x 10.5 9.4 16.7 14.3 12.0 Converge Technology Solutions Corp. 6.50 93.9 1,063 1,087 839 1,214 57 86 247.6 22.0 6.9 1.29x 0.89x 19.2 12.6 NA 26.3 50.0

Median 23.5%17.2%6.9%0.77x0.74x15.1x11.8x22.8x19.6x10.6% Mean 63.4% 18.6% 6.1% 0.90x 0.78x 14.7x 12.4x 22.5x 19.6x 18.6%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT Solution Provider - Europe '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Bechtle AG $193.35 84.8% $8,121 $8,132 $7,259 $7,767 $436 $490 58.6% 13.6% 6.0% 1.12x 1.05x 18.6x 16.6x 33.5x 31.2x 9.7% Softcat Plc 25.74 93.2 5,122 5,046 1,592 1,836 162 173 34.9 22.8 10.3 3.17x 2.75x 31.2 29.2 40.7 38.7 NA Computacenter Plc 38.06 98.4 4,345 4,308 7,667 8,937 422 411 56.8 13.1 5.5 0.56x 0.48x 10.2 10.5 19.8 20.3 NA SoftwareONE Holding Ltd. 25.02 74.8 3,967 3,271 8,762 9,471 201 273 NA 2.6 2.3 0.37x 0.35x 16.3 12.0 19.7 24.3 14.1 Atea ASA 20.50 96.0 2,298 2,437 4,870 4,940 197 208 22.0 4.1 3.8 0.50x 0.49x 12.3 11.7 26.3 23.1 NA CANCOM SE 59.27 85.6 2,285 1,933 1,906 2,066 157 174 33.3 7.1 7.9 1.01x 0.94x 12.3 11.1 29.8 31.0 12.5 Asseco Poland S.A. 20.08 98.3 1,667 2,452 3,387 3,511 487 500 42.6 21.6 15.5 0.72x 0.70x 5.0 4.9 14.7 14.6 NA Dustin Group AB 12.92 98.6 1,146 1,352 1,620 2,055 94 118 75.0 13.6 5.5 0.83x 0.66x 14.4 11.5 30.6 17.9 NA Comarch S.A. 64.75 96.9 527 451 414 441 70 67 22.1 29.4 17.4 1.09x 1.02x 6.4 6.7 15.0 16.8 NA Datatec Limited 2.27 97.8 458 582 4,835 4,283 173 156 NA 15.1 3.6 0.12x 0.14x 3.4 3.7 NA 17.9 NA Plaisio Computers SA 5.01 95.2 111 107 431 - 17 - NA 18.5 4.0 0.25x NA 6.2 NA 29.3 NA NA Byte Computer ABEE 2.79 88.2 44 40 38 - 4 - NA 17.9 10.5 1.03x NA 9.9 NA 21.9 NA NA

Median 38.7%14.4%5.8%0.78x0.68x11.3x11.3x26.3x21.7x12.5% Mean 43.2% 15.0% 7.7% 0.90x 0.86x 12.2x 11.8x 25.6x 23.6x 12.1%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet IT Distributors '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Arrow Electronics, Inc. $121.94 97.7% $9,044 $11,338 $30,678 $34,425 $1,263 $1,512 16.1% 10.4% 4.1% 0.37x 0.33x 9.0x 7.5x 12.7x 10.0x 14.0% SYNNEX Corporation 126.85 77.0 6,577 6,799 24,350 20,372 1,191 676 0.0 9.4 4.9 0.28x 0.33x 5.7 10.1 13.3 15.5 9.4 Avnet, Inc. 44.30 97.5 4,408 5,621 18,468 19,757 447 562 2.5 11.2 2.4 0.30x 0.28x 12.6 10.0 27.7 15.1 14.9 ScanSource, Inc. 29.04 85.2 740 914 2,495 3,103 96 118 -19.6 10.4 3.9 0.37x 0.29x 9.5 7.7 NA 11.2 10.0 TESSCO Technologies Incorporated 7.38 79.8 65 105 373 379 NA NA -36.9 18.1 -3.8 0.28x 0.28x NA NA NA NA NA

Median 0.0%10.4%3.9%0.30x0.29x 9.2x 8.9x13.3x13.1x12.0% Mean -7.6% 11.9% 2.3% 0.32x 0.30x 9.2x 8.8x 17.9x 12.9x 12.1%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet SaaS '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate salesforce.com, inc. $236.20 83.0% $217,831 $213,137 $22,350 $25,538 $4,343 $7,519 95.8% 68.6% 15.5% 9.54x 8.35x 49.1x 28.3x 49.4x 60.8x 16.7% ServiceNow, Inc. 469.17 78.4 92,637 93,544 4,833 5,742 727 1,768 120.1 73.2 16.1 19.35x 16.29x 128.7 52.9 NM 85.2 27.0 Twilio, Inc. Class A 333.68 73.0 54,180 51,579 1,987 2,534 NA 218 289.8 47.7 -17.9 NA NA NM NM NM NM 34.6 Workday, Inc. Class A 226.41 80.1 42,791 54,342 4,460 4,970 231 1,253 79.8 72.8 6.9 12.18x 10.93x NM 43.4 NM 77.5 22.8 HubSpot, Inc. 492.03 85.6 22,990 22,405 965 1,242 NA 155 142.1 81.0 -1.0 NA 18.04x NM 144.7 NM NM 21.7 Slack Technologies, Inc. Class A 43.84 98.4 22,032 24,211 903 1,163 NA NA NA 86.5 -23.8 NA NA NM NM NM NM NA Splunk Inc. 120.28 53.2 19,714 20,055 2,229 2,514 NA NA 43.0 74.7 -29.2 9.00x 7.98x NM NM NM NM 8.0 SS&C Technologies Holdings, Inc. 73.92 97.3 18,907 26,388 4,728 4,914 1,769 1,969 41.2 44.8 37.4 5.58x 5.37x 14.9 13.4 28.2 15.8 NA Paycom Software, Inc. 325.47 69.1 18,810 16,668 871 1,018 263 401 79.8 80.0 30.2 19.13x 16.37x 63.4 41.6 130.8 76.6 25.0 Coupa Software, Inc. 234.07 62.1 17,181 16,991 542 668 NA 20 162.7 55.3 -18.6 NA NA NM NM NM NM 30.0 Zendesk, Inc. 134.62 80.8 15,973 16,135 1,090 1,314 NA 138 119.4 76.9 -8.3 14.80x 12.28x NM 116.7 NM 190.8 27.5 Xero Limited 102.16 85.0 15,112 15,203 615 750 142 147 118.9 71.8 23.0 NA NA 107.2 103.6 NM NM NA Fair Isaac Corporation 498.96 91.1 14,359 15,561 1,332 1,358 445 540 27.6 72.7 33.4 11.68x 11.46x 34.9 28.8 53.3 41.2 16.2 NICE Ltd 221.45 77.6 13,978 14,034 1,754 1,824 448 637 24.7 60.1 25.6 8.00x 7.70x 31.3 22.0 66.3 35.1 11.4 Sage Group plc 9.27 91.7 9,961 10,374 2,628 2,642 633 601 9.9 87.5 24.1 3.95x 3.93x 16.4 17.3 31.0 27.6 3.0 Paylocity Holding Corp. 166.14 76.1 9,051 9,267 599 703 100 186 66.2 65.0 16.6 15.48x 13.19x 93.1 49.8 146.4 81.7 20.0 Cloudera, Inc. 15.93 82.3 4,683 4,902 869 915 36 253 94.5 70.6 4.1 5.64x 5.36x 137.4 19.4 NM 39.8 NA New Relic, Inc. 62.73 77.3 4,002 3,535 668 700 NA 26 56.1 72.8 -12.3 5.30x 5.05x NM 135.9 NM NM 34.6 Envestnet, Inc. 72.06 77.9 3,922 4,913 1,027 1,150 190 241 41.5 19.4 20.2 4.78x 4.27x 25.9 20.4 NM 33.6 NA Software AG 44.18 83.6 3,269 2,957 985 998 201 195 0.5 76.0 20.4 3.00x 2.96x 14.7 15.1 31.4 26.5 2.9 Cornerstone Ondemand, Inc. 43.96 79.2 2,910 3,908 800 857 179 328 59.3 69.3 22.4 4.88x 4.56x 21.8 11.9 NM 18.7 NA Zuora, Inc. Class A 14.98 83.5 1,667 1,702 312 335 NA 2 46.1 57.9 -15.8 5.46x 5.08x NM NM NM NM NA Blucora, Inc. 17.80 96.7 862 1,273 770 845 84 128 50.7 42.5 10.9 1.65x 1.51x 15.1 9.9 NM 12.3 NA

Median 62.7% 71.8% 15.5% 6.82x 7.70x 33.1x 28.6x 51.3x 39.8x 21.7% Mean 80.4% 66.4% 7.8% 8.86x 8.46x 53.8x 48.6x 67.1x 54.9x 20.1%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet Enterprise Applications '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate Microsoft Corporation $247.40 94.0% $1,863,312 $1,835,351 $159,969 $176,505 $76,074 $85,492 49.4% 68.4% 47.2% 11.47x 10.40x 24.1x 21.5x 33.7x 30.7x 9.1% Adobe Inc. 495.91 92.4 237,045 239,269 13,697 15,662 5,534 7,616 70.0 86.3 40.4 17.47x 15.28x 43.2 31.4 43.1 41.2 17.3 Oracle Corporation 79.57 98.6 229,443 272,405 39,692 40,908 18,398 20,451 3.1 77.1 46.4 6.86x 6.66x 14.8 13.3 19.0 17.1 12.5 SAP SE 139.50 82.2 171,370 172,239 33,008 33,306 10,374 10,722 17.9 72.8 33.2 5.22x 5.17x 16.6 16.1 25.2 21.7 4.1 International Business Machines Corporation144.19 96.9 128,837 179,994 73,780 74,305 14,459 17,825 -6.6 47.7 22.8 2.44x 2.42x 12.4 10.1 24.1 13.2 6.8 Intuit Inc. 438.66 98.4 119,868 119,426 8,888 9,977 2,940 3,790 57.3 81.6 33.4 13.44x 11.97x 40.6 31.5 56.2 44.2 16.6 Veeva Systems Inc Class A 285.51 87.7 39,407 44,223 1,562 1,793 450 723 111.7 71.5 29.3 NA NA NA NA NA 82.6 15.8 Hewlett Packard Enterprise Co. 16.09 96.1 20,935 35,779 26,918 27,729 4,345 5,328 -9.3 30.3 16.1 1.33x 1.29x 8.2 6.7 NA 8.7 6.6 VMware, Inc. Class A 161.26 93.8 18,025 68,224 12,027 12,730 3,403 4,520 44.1 81.6 28.3 5.67x 5.36x 20.0 15.1 32.5 23.0 16.3 Citrix Systems, Inc. 113.87 65.6 14,139 17,521 3,152 3,378 750 1,095 13.6 81.0 23.6 5.56x 5.19x 23.4 16.0 34.6 19.9 13.0 Aspen Technology, Inc. 134.87 83.0 9,173 9,269 711 724 389 393 31.7 91.5 55.3 13.04x 12.81x 23.8 23.6 28.6 27.1 14.8 Manhattan Associates, Inc. 136.34 92.9 8,674 8,624 589 634 124 136 13.4 52.9 21.0 14.63x 13.60x NA NA NA 82.4 NA Tenable Holdings, Inc. 41.23 70.5 4,354 4,027 461 522 NA 50 95.3 82.4 -1.7 8.74x 7.71x NA NA NA NA 23.5

Median 31.7% 77.1% 29.3% 7.80x 7.19x 21.7x 16.0x 32.5x 25.1x 13.9% Mean 37.8% 71.2% 30.4% 8.82x 8.15x 22.7x 18.5x 33.0x 34.3x 13.0%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet Cyber Security '20 - '21E As of June 1, 2021 Revenue Gross EBITDA Valuation Multiples EPS $ in millions except per share data Current % of 52 Market Value Revenue EBITDA Growth Margin Margin EV/Rev EV/EBITDA P/E Growth Company Price Wk. High Equity Enterprise LTM 2021E LTM 2021E Rate LTM LTM LTM 2021E LTM 2021E LTM 2021E Rate CrowdStrike Holdings, Inc. Class A $222.07 88.4% $44,223 $47,219 $874 $1,281 NA $148 NA 73.7% -4.7% NA NA NA NA NA NA 50.8% Fortinet, Inc. 214.99 97.3 35,112 33,881 2,725 3,111 599 892 72.7 77.9 22.1 12.43x 10.89x NA 38.0x 72.8x 57.4x 13.9 Palo Alto Networks, Inc. 360.35 89.4 35,095 35,476 3,987 4,541 328 1,082 79.1 62.4 8.2 8.90x 7.81x NA 32.8 NA 55.8 22.8 Okta, Inc. Class A 218.64 74.4 27,342 28,121 904 1,184 NA NA 205.6 69.2 -16.4 NA NA NA NA NA NA 25.4 Zscaler, Inc. 191.77 83.1 26,069 25,704 602 760 NA 108 220.1 77.3 -16.3 NA NA NA NA NA NA 74.6 Akamai Technologies, Inc. 113.85 91.1 18,557 20,390 3,277 3,436 1,222 1,516 26.6 60.4 37.3 6.22x 5.93x 16.7 13.5 32.0 20.6 13.0 NortonLifeLock Inc. 27.89 99.0 16,175 19,476 2,551 2,726 1,229 1,439 -43.4 82.9 48.2 7.63x 7.15x 15.8 13.5 30.2 17.0 7.0 Check Point Software Technologies Ltd. 115.57 83.0 15,851 13,900 2,086 2,139 946 1,045 11.6 88.9 45.3 6.66x 6.50x 14.7 13.3 18.8 17.1 8.0 F5 Networks, Inc. 179.20 82.9 10,683 11,243 2,468 2,615 579 913 19.8 79.7 23.8 4.56x 4.30x 19.4 12.3 39.8 16.9 13.9 Proofpoint, Inc. 172.96 99.3 9,918 10,148 1,088 1,210 30 204 68.8 72.9 2.7 9.33x 8.38x NA 49.8 NA 83.7 30.0 Trend Micro Incorporated 50.91 78.3 7,164 5,137 1,618 1,668 594 523 15.0 77.5 36.7 3.17x 3.08x 8.6 9.8 28.8 25.0 NA Avast Plc 6.60 83.9 6,799 7,570 981 945 468 527 14.3 76.9 47.7 7.72x 8.01x 16.2 14.4 36.2 18.1 5.2 FireEye, Inc. 22.33 87.5 5,324 5,387 962 1,022 NA 171 23.0 63.2 -1.4 5.60x 5.27x NA 31.4 NA 55.9 15.1 SolarWinds Corp. 16.32 67.1 5,153 6,784 1,029 1,058 389 478 27.0 65.6 37.8 6.59x 6.41x 17.4 14.2 34.5 17.5 49.2 Varonis Systems, Inc. 47.96 63.7 5,091 4,272 313 370 NA 18 37.0 84.8 -19.2 13.63x 11.54x NA NA NA NA 112.7 CyberArk Software Ltd. 124.17 73.2 4,937 4,393 470 490 5 38 42.9 71.7 11.5 9.34x 8.96x NA NA NA NA 2.1 Rapid7 Inc. 83.45 88.2 4,601 4,748 435 504 NA 32 106.6 67.8 -11.2 10.92x 9.41x NA NA NA NA NA Tenable Holdings, Inc. 41.23 70.5 4,354 4,027 461 522 NA 50 95.3 82.4 -1.7 8.74x 7.71x NA NA NA NA 23.5 SailPoint Technologies Holdings, Inc. 44.84 69.9 4,140 4,109 381 409 14 3 64.3 76.0 3.7 10.80x 10.05x NA NA NA NA NA Qualys, Inc. 96.98 65.2 3,796 3,619 374 403 108 167 44.6 77.9 28.8 9.68x 8.98x 33.5 21.7 54.0 35.8 2.3 Aisino Corp. Class A 2.03 70.4 3,757 2,981 3,348 3,721 433 397 -10.5 26.0 NA 0.89x 0.80x 6.9 7.5 13.8 21.5 NA Mimecast Limited 49.07 82.5 3,198 3,179 501 558 104 144 73.8 75.7 20.7 6.34x 5.70x 30.7 22.0 NA 40.8 16.0 Radware Ltd. 28.90 90.4 1,334 1,089 257 273 19 41 16.4 81.8 7.3 4.24x 3.99x NA 26.9 NA 40.7 15.5 F-Secure Oyj 5.09 98.1 809 792 271 286 43 45 32.9 78.9 15.5 2.92x 2.76x 18.5 17.6 42.2 40.2 NA Zix Corporation 6.98 67.3 397 701 226 249 41 55 253.0 39.1 18.1 3.10x 2.82x 17.2 12.7 NA 12.0 15.0 SecureWorks Corp. Class A 14.47 88.7 196 979 561 542 9 NA 5.4 54.3 1.6 1.75x 1.81x NA NA NA NA NA Techpoint, Inc. JDR 17.94 89.4 118 296 40 53 9 13 71.5 52.6 22.4 7.36x 5.54x 33.0 23.5 47.5 30.8 NA

Median 39.9% 75.7% 13.5% 7.01x 6.45x 17.2x 16.0x 35.4x 27.9x 15.3% Mean 60.5% 70.3% 14.2% 7.02x 6.41x 19.1x 20.8x 37.6x 33.7x 25.8%

Source: FactSet; based on consensus estimates.

Please forward any questions to Patrick Jeffries at [email protected] Data Provided by FactSet