Table of Contents

Program 5

Speakers 9

NOAH Infographic 130

Trading Comparables 137

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4 Program

5 SESSION TITLE COLOSSEUM -Day1 Breakfast

Lunch servedbetween 11:30 -15:00 Online Consumer Goods, NOAH Healthcare, Science Marketing Transportation & Mobility Travel & Tourism Tech Fashion Retail & Ecommerce Startups & Education

K K FC CP FC FC P CP CP FC FC CP A FC K CP K FC CP FC CP P CP FC CP FC CP FC FC FC CP FC CP K ® COMPANY ® CP Presentation Company 17:00 -17:10 12:55 -13:10 12:40 -12:55 12:30 -12:40 12:20 -12:30 12:10 -12:20 12:00 -12:10 16:50 -17:00 16:35 -16:50 16:25 -16:35 16:15 -16:25 16:05 -16:15 15:55 -16:05 15:45 -15:55 15:35 -15:45 15:25 -15:35 15:15 -15:25 15:05 -15:15 14:55 -15:05 14:45 -14:55 14:30 -14:45 14:20 -14:30 13:50 -14:00 13:40 -13:50 13:30 -13:40 13:20 -13:30 13:10 -13:20 10:40 -10:50 10:15 -10:40 10:05 -10:15 18:05 -18:10 17:35 -18:05 17:20 -17:35 17:10 -17:20 14:15 -14:20 14:10 -14:15 14:00 -14:10 11:50 -12:00 10:50 -1 11:40 -11:50 11:30 -11:40 11:20 -11:30 11:10 -11:20 11:00 -11:10 K 8:00 -10:00 9:55 -10:05 9:35 -9:45 9:25 -9:35 9:15 -9:25 9:00 -9:15 9:45 -9:55

22:00 TIME Keynote 1:00

Misterporter NOAH London2017StartupsWinners The W Egon Zehnder Siemens Healthineers Digital McKinsey Corporate DigitalInnovation–fromShametoFame T BlaBlaCar Moovit hy Uber Axel Springer Revolution Precrafted GetYourGuide Insight Venture Partners HomeToGo Kiwi.com Evaneos Facebook AUTO1 Group NOAH Advisors Between Tradition andDigitisation:WhatOldNewEconomycanLearnfromOne Another? NUCOM GROUP General Atlantic Balderton Capital Balderton Capital Contentful Wooga Adtelligence RankAbove DCMN OUTFITTERY Permira BestSecret La Mania tado° Lalafo Lalafo Chronext Mister Spex Marley Spoon Target Global Target Global TargetGlobal Announcement AUTO1 Group NGP Capital eGym Babbel Prelude Top Doctors Doctolib EY - Bayer Volocopter BlaBlaCar BMW iVentures Movinga FlixBus GoOpti Blacklane Optibus Drivy Porsche COMPANY Party @Tempodrom withDJ Ken Abel NOAH Advisors Closing Note Generation IM Rocket Internet Edge Technologies Deutsche Telekom axify 6 June2018 P ork Crowd Panel FC Chat Fireside Walter Masalin Philipp Roesch-Schlanderer Markus Witte Martin Varsavsky Alberto E.Porciani Stanislas Niox-Chateau Julie Teigland Simone Menne Saskia Steinacker Florian Reuter Chantal Ambord Sohaila Ouffata Hänsel Finn Age Jochen Engert Marko Guček Dr. JensWohltorf Amos Haggiag Paulin Dementhon Sebastian Wohlrapp Markus Villig Nicolas Brusson Nir Erez Christoph Keese Dara Khosrowshahi Dr. MathiasDöpfner Antonio Robbie Johannes Reck Harley Miller Dr.Patrick Andrae Oliver Dlouhý Eric LaBonnardière Mark Krymalowski Dr. BerndMontag Dr.Florian Tappeiner Jörn Nikolay Suranga Chandratillake Rob Moffat Sascha Konietzke Jens Begemann Michael Altendorf Mayer Reich Matthias Riedl Julia Boesch Stefan Dziarski Daniel Schustermann Joanna Przetakiewicz Toon Bouten Yuriy Mukhin Anna Polishchuk Philipp Man Dirk Graber Fabian Siegel Shmuel Chafets Alexander Frolov Hakan Koç Matthias Schmidt-Pfitzner Martin Ott Gerhard Cromme Marco Rodzynek Claudia Nemat Marco Rodzynek Al Gore Oliver Samwer Coen vanOostrom Tillan Barros Alice Weightman SPEAKER

A MR MR Announcement MR MR MR MR MR MR MR MR MR MR POSITION VP Chairman Founder &CEO Partner CEO CEO Founder Founder &CEO CEO Managing PartnerEY GSA Supervisory BoardMemberofBMW, DPDHL Global HeadofDigitalExcellence CEO General Manager, BlaBlaPro Director ofPlatform CEO Founder &MD Co-Founder &CEO Co-Founder &CEO Co-Founder &CEO CEO VP DigitalBusinessPlatform Founder &CEO Co-Founder &CEO Founder &CEO CEO CEO CEO CEO Co-Founder &CEO Vice President Co-Founder &CEO CEO CEO Co-CEO &ManagingDirector Managing Director Partner Partner CEO CEO Co-Founder &CEO Founder &CEO Co-Founder Founder &ManagingDirector Partner CEO Founder &CreativeDirector CEO Co-Founder Co-Founder CEO Founder &ManagingDirector Founder &CEO General Partner General Partner Founder &ManagingDirector Digital Partner Head ofEMEA DigitalPractice CEO CTO Chairman Founder &CEO Founder &CEO Founder &CEO Founder &CEO Founder &CEO , MDCentralEurope MR Rodzynek Interview /Panel withparticipation ofMarco , NOAH Advisors Founder &CEO, SESSION TITLE COLOSSEUM -Day2

Indus- Breakfast

Lunch servedbetween 11:30 -15:00 Lending Restaurants & B2B & Software trials & Fintech Payments Digital & TMT IoT Platforms Food Delivery K CP FC CP CP P CP FC CP CP FC CP FC CP CP FC CP FC FC FC CP FC CP K COMPANY ® ® CP Company Presentation 15:55 -16:05 15:00 -15:10 14:50 -15:00 14:40 -14:50 14:30 -14:40 14:20 -14:30 14:10 -14:20 14:00 -14:10 13:50 -14:00 13:40 -13:50 13:30 -13:40 13:20 -13:30 13:10 -13:20 13:00 -13:10 12:50 -13:00 12:40 -12:50 12:30 -12:40 12:00 -12:10 10:45 -10:55 10:35 -10:45 10:25 -10:35 10:15 -10:25 10:05 -10:15 9:55-10:05 17:35 -17:45 17:25 -17:35 17:15 -17:25 17:05 -17:15 16:55 -17:05 16:45 -16:55 16:35 -16:45 16:25 -16:35 16:15 -16:25 16.05 -16:15 12:20 -12:30 12:10 -12:20 17:45 -17:50 15:30 -15:55 15:20 -15:30 15:10 -15:20 11:50 -12:00 10:55 -11:05 11:35 -11:50 11:05 -11:15 11:15 -11:25 1 8:00 -10:00 9:45 -9:55 9:35 -9:45 9:30 -9:35 1:25 -11:35

TIME

Bloomberg Delivery Hero Insight Venture Partners HelloFresh Softbank General Catalyst ClassPass App Annie Permira LegalZoom Unikrn MUBI Epidemic Sound Minute Media HuffPost Tamedia NOAH Advisors Day 1Summary Control€xpert Scytl Unmanned Life Kariyer.net Trustpilot Permira TeamViewer Dealroom.co Asana Hop DocuSign Holtzbrinck Ventures Thermondo auxmoney smava Spotcap Thasos Group Crowdhouse TenX Mastercard N26 Deposit Solutions ING Group Scalable Capital Allianz X Target Global wefox Group xbAV Zurich InsuranceGroup Hypoport Facile.it Raisin Fraugster SumUp Frog Capital Azimo Safecharge VISA COMPANY NOAH Advisors Closing Note Lakestar Affairs andEnergy Federal MinistryforEconomic Entrepreneur First Alpha Wayra Telefónica 7 June2018 K Keynote P Panel David Thevenon Adam Valkin Payal Kadakia Nicolas Beraudo Dipan Patel John Suh Rahul Sood Efe Cakarel Oscar Höglund Asaf Peled Jared Grusd Christoph Brand Max Laemmle Marc-Alexander Christ Shirin Dehghan Michael Kent David Avgi Paul Walsh Nicolas Witte TaubmannHolger Kumardev Chatterjee Fatih Uysal Peter Mühlmann Stefan Dziarski Oliver Steil Yoram Wijngaarde Chris Farinacci Dvir Ben-Aroya Ron Hirson Rainer Maerkle Philipp Pausder Raffael Johnen Artopé Alexander Jens Woloszczak Greg Skibiski Ardian Gjeloshi Dr. JulianHosp Peter Bakenecker Valentin Stalf Max vonBismarck Benoît Legrand Erik Podzuweit Nazim Cetim Yaron Valler TeickeJulian Malte Dummel Giovanni Giuliani Ronald Slabke Mauro Giacobbe Tamaz Georgadze Marco Rodzynek Stefan Nicola Niklas Östberg Harley Miller Dominik Richter Marco Rodzynek Klaus Hommels Peter Altmaier Alice Bentinck Pablo Rodríguez Christian Lindener Gonzalo Martín-Villa SPEAKER FC MR MR Fireside Chat MR MR MR MR MR MR MR MR POSITION Partner General Partner Founder &ExecutiveChairman Managing Director Partner CEO Co-Founder &CEO Founder &CEO Co-Founder &CEO Founder &CEO CEO Head ofClassifieds&Marketplaces Founder &CEO Founder &CEO Co-Founder Partner Co-Founder &CEO CEO SVP PlatformStrategyandInnovation CEO CEO Founder &CEO CEO Founder &CEO Partner CEO Founder &CEO Head ofBusiness Co-Founder &CEO Chief ProductOfficer Partner Founder &ManagingDirector Co-Founder &CEO Co-Founder &CEO Co-Founder &CEO Founder &CEO Co-Founder &Chairman Founder &CEO Division PresidentGermany&Switzerland Founder &CEO CBO &ManagingDirector Chief InnovationOfficer Co-Founder &Co-CEO CEO General Partner CEO CFO Chief Strategy, Innovation&BusinessDevelopmentOfficer CEO CEO CEO German Telecoms, Tech andMediaReporter CEO Vice President CEO Founder &CEO Founder &CEO Federal MinisterforEconomic Affairs andEnergy Co-Founder &CPO CEO CEO Germany Chief InnovationOfficer MR Rodzynek Interview /Panel withparticipation ofMarco , NOAH Advisors Founder &CEO, B2B & Software Consumer Travel & Tourism Goods, Retail & Ecommerce

Transportation Digital & TMT & Mobility

Restaurants & Fintech Food Delivery

The event is a unique platform for senior executives from old champions and new challengers to discuss disruption in 10+ industrial verticals. Payments Healthcare, Science & Education

Over 100 CEOs to tell the story of their Company!

Online Fashion Industrials & IoT

Marketing Tech Lending Platforms Speakers

9 MARKETING TECH Ecommerce Optimization and Customer Intelligence Solutions

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Michael is the Co-Founder and Chief Executive Officer of ADTELLIGENCE Headquarters Mannheim, Germany Unique Users <5k <5k • Michael is also a Co-Organizer of the Technology Ventures Program, the regional Entrepreneurship Club, TEDx, the Maifeld Derby Rock Music Festival & Founded 2009 Visits <5k <5k Member of the CEO collaborative Forum and Technology Pioneer at the World Economic Forum. Employees 51-100 Minutes 03:12 03:14 • Next to this Michael also speak regularly at different Mobile: 0% Mobile: 62% conferences and lectures on divers topics like Active Markets Global Sessions entrepreneurship, internet trends or Venture Capital Desktop: 100% Desktop: 48% Michael around the globe at different business schools. Apr 2018 Search: 46%, Referrals: 51%, Ownership Private Altendorf • Previously, Michael worked at SAP as Product Sources Other: 3% Manager and in Global Marketing and an institute for Co-Founder & interdisciplinary peace research and sustainability. NOAH Content Adtelligence at NOAH CEO • Michael earned his Diploma in Economics from University of Heidelberg Website adtelligence.com/en/

COMPANY PROFILE ADTELLIGENCE @ NOAH

Doing Business @ NOAH Main Presentation Topics • Adtelligence provides personalization and customer intelligence solutions for online businesses. By using next generation machine learning solutions N/A Present your business proposal through Adtelligence enables eshops to increase conversion rates by using all available NOAH Connect app data from customers, shop or devices in real time. Our technology uses ultra fast in-memory machine learning algorithms to increase conversions – resulting increased revenues & customer happiness • The Adtelligence Convert+ Personalization Cloud Solution provides real-time personalization, multivariate testing, page segmentation, behavioral targeting and fully automated optimization using Big Data and genetic mutation machine Attendees @ NOAH learning algorithms to generate a unique customer experience for every user. • The customer intelligence solutions enables the marketer to get new insights Michael Altendorf, Co-Founder & CEO about their clients and steer their marketing in real time. • Adtelligence is a venture funded German Software/SaaS company founded by former SAP employees in 2009 with a strong European presence, currently expanding worldwide

10 INVESTORS Digital Investment Unit of the Allianz Group

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Dr. Nazim Cetin is the CEO of Allianz X. Nazim has more than a decade of leadership experience in investing, business development and Headquarters Munich, Germany entrepreneurship. Nazim joined Allianz X most recently from media conglomerate Bertelsmann, Founded 2013 where he was a Vice President of Corporate Development & New Businesses, as well as Head of Business Development. Prior, he founded the first Employees 26-50 German magazine focusing on philosophy and economics agora 42; internationalized the commercial finance division of Maple Bank; served as a venture Active Markets Global Dr. Nazim Cetin partner for Target Global, and an advisor for many CEO international VC funds and start-ups • He received his Diplom in Economics from Eberhard- NOAH Content Allianz at NOAH Karls-Universität Tübingen, a M.Sc in Economics and Management from Universitat Pompeu Fabra Barcelona, and a Ph.D. in Economics from University Website allianzx.com Witten-Herdecke

INVESTOR PROFILE ALLIANZ X @ NOAH

Doing Business @ NOAH Main Presentation Topics • Allianz X is the digital investment unit of the Allianz Group Panel discussion with • We are investing in digital growth companies that are part of the ecosystems Present your business proposal through related to insurance NOAH Connect app and • Our goal is to identify and invest in the best digital frontrunners that are strategically relevant for the Allianz Group • We provide an interface between portfolio companies and the digital ecosystem within Allianz as well as drive innovation across Allianz’s operating entities and global lines of business Attendees @ NOAH

Dr. Nazim Cetin, CEO

11 TELECOMMUNICATIONS Telefonica’s Innovation Facility

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • With 20+ years of experience, Pablo worked in several Silicon Valley startups (Inktomi and Tahoe Networks, building the first routers for mobile networks). He also Headquarters Barcelona, Spain worked at Microsoft Research

• At Telefonica he established its Research arm Founded 2016 (Networks, Data Science, AI) in 2006 and lead its Product Innovation unit, driving ideas to early stage commercialisation with an innovation model now Employees 51-100 featured as a Harvard Business Review case. He launched Telefonica's Video Content Delivery Pablo Network, used to stream the Olympics or Champions Active Markets Global Rodriguez League to millions. • He co-founded the Data Transparency Lab, a privacy CEO NGO, and has also worked with chef Ferran Adria (El Ownership Private – Telefonica Bulli) and F.C Barca applying data science to gastronomy and soccer strategies. He was also an adjunct Professor at Columbia University, NYC Website alpha.company

COMPANY PROFILE ALPHA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Alpha is an innovation facility based in Barcelona. It was established by Telefonica in January 2016. Alpha was created to address some of the biggest 1. How Alpha pioneers 'moonshot' thinking Service Provider Interest problems in society by conceiving and delivering radical solutions and 2. How Alpha contributes to innovation in Analytics – BI, CI & Data Science breakthrough technology the Telefonica group • We build Moonshots - multi-year development projects that address big societal 3. What corporations can learn from this problems. Our mission is for these Moonshots to one day evolve into successful Key Hires Interest model of innovation business models in their own right AI & Rapid Prototyping roles, Machine Learning, Ideation Specialist, Rapid Prototyping Software expert Attendees @ NOAH

Pablo Rodriguez, CEO

12 B2B & SOFTWARE #1 Decision-Making Platform for the Mobile App Economy

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Nicolas is Managing Director at App Annie • A veteran in the video game industry, he has over 17 Headquarters San Francisco, CA, US Unique Users 1.6m 1.2m years of experience in sales, licensing and business Visits 4.5m 2.7m development with leading publishers globally Founded 2010

• Prior to joining App Annie, Nick served as VP of Employees 100-1,000 Minutes 04:09 03:39 Business Development at Glu. He also served as Mobile: 37% Mobile: 45% Sessions Senior Director of Licensing at Atari, Inc. where he Active Markets Global Desktop: 63% Desktop: 54% was responsible for outbound licensing of the Atari Apr 2018 Direct: 56%, Search: 35%, and Hasbro portfolio on all new digital platforms Ownership Private – VCs Sources Referrals: 2%, Other: 7% Nicolas • Nicolas also served as VP of Sales for Virgin Greenspring Associates, IVP, Interactive and Director of Sales for Interplay Key Investors Sequoia Capital, Greycroft Beraudo Entertainment from 1996 to 2003 Partners, IDG Managing Funding $157m Director NOAH Content App Annie at NOAH

Website appannie.com

COMPANY PROFILE APP ANNIE @ NOAH

Doing Business @ NOAH Main Presentation Topics • App Annie delivers the most trusted app data and insights for your business to succeed in the global app economy 1. The continued growth of the app Present your business proposal through economy • Over 1,000,000 registered members rely on App Annie to better understand the NOAH Connect app app market, their businesses and the opportunities around them 2. The opportunity for TMT companies using apps to grow their business • The company is headquartered in San Francisco with 450 employees across 15 3. Best practices in app strategy global offices • App Annie has received $157 million in financing from investors such as e.ventures, Greenspring Associates, Greycroft Partners, IDG Capital Partners, Institutional Venture Partners and Sequoia Capital Attendees @ NOAH Nicolas Beraudo, MD EMEA

Silvia Buermann, Territory Director, CEE

Bertrand Salord, VP Marketing EMEA

13 B2B & SOFTWARE Work-management Software

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Chris Farinacci currently serves as the COO at Asana, after over four years at Google as the Senior Director Headquarters San Francisco, CA, US Unique Users 2.3m 3.8m of Global Marketing, Google for Work and Google for Education Founded 2008 Visits 22.0m 30.8m • Chris leads Asana's go-to-market efforts, including sales, marketing, business development, business Employees 100-1,000 Minutes 09:56 10:15 operations, customer success and customer support Mobile: 8% Mobile: 12% • He holds Bachelor of Science in Mechanical Active Markets Global Sessions Engineering from The Ohio State University Desktop: 92% Desktop: 88% Apr 2018 Direct: 86%, Search: 8%, Ownership Private – VCs Chris Farinacci Sources Referrals: 1%, Other: 5% Generation IM, Founders Fund, Key Investors COO Y Combinator

Funding $163m

Website asana.com

COMPANY PROFILE ASANA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Asana is a fast-growing company that makes it easy for any team or organization to plan, prioritize, manage, track, and complete their projects, N/A Present your business proposal through processes and work with greater clarity and accountability, and to generally be NOAH Connect app more effective and focused. If you’ve ever worked on a large team, you’ve faced the age old problem of work about work. We’re solving it at Asana • The company was established in 2008 and is based in San Francisco, California

Attendees @ NOAH

Chris Farinacci, Head of Business

14 DIGITAL & TMT One of the Largest Digital Publishing Houses in Europe

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Dr Mathias Döpfner, born 1963, studied musicology, German and theatrical arts in Frankfurt and Boston Headquarters Berlin, Germany Market Cap €7.4bn • He started his career as a journalist at the "Frankfurter Allgemeine Zeitung" in 1982. He was director of a PR Founded 1946 agency from 1988 to 1990. In 1992 he worked on the Key Financials 2017 staff of the international director of the Gruner + Jahr Employees 10,000+ Revenues €3,563m publishing company in Paris and later became Digital 72% assistant to the CEO of Gruner + Jahr in Hamburg. He Other 28% then held further positions in journalism as editor-in- Active Markets Global chief of "Wochenpost" in Berlin (1994–1996) and Adjusted EBITDA €646m Dr. Mathias "Hamburger Morgenpost" (1996–1998) Ownership Public (ETR) Margin 18% Döpfner • He has been with Axel Springer SE since 1998. Company Click here to download Initially as editor-in-chief of Die Welt. Dr Mathias Presentation CEO Döpfner became the member of the Executive Board EV/Revenue 2.5x responsible for the Multimedia Division in July 2000 NOAH Content Axel Springer at NOAH and took charge of the Newspapers Division as well in EV/EBITDA 13.5x October 2000. He has been CEO of the Axel Springer Website axelspringer.de SE since January 2002

COMPANY PROFILE AXEL SPRINGER @ NOAH

Doing Business @ NOAH Main Presentation Topics • Axel Springer is the leading digital publisher in Europe and is active in more than 40 countries. Publishing brands include BILD, DIE WELT and BUSINESS Fireside chat with Marco Rodzynek Present your business proposal through • INSIDER NOAH Connect app • Journalism is the foundation of the business model. When Axel Springer founded its first publishing house in 1946, the editors spent the first year working above a warehouse, often without electricity • Today, Axel Springer owns and operates the world’s largest digital classifieds business with classifieds revenues of €1.0bn and an EBITDA of €413m in the financial year 2017 Attendees @ NOAH Dr. Mathias Döpfner, CEO

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 15 CONSUMER GOODS, RETAIL & ECOMMERCE Global Online Car Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Gerhard Cromme is the Chairman of AUTO1 Group • He has been a member of Siemens’ Supervisory Headquarters Berlin, Germany Unique Users 0.1m 0.1m Board since 2003 and Chairman of the Audit Founded 2012 Visits 0.6m 0.6m Committee since 2005 • He studied law and economics from 1962 to 1971 at Employees Over 1,000 Minutes 09:08 12:35 the Universities of Münster, Lausanne and Paris and Mobile: 52% Mobile: 37% Active Markets Global Sessions passed first and second "Staatsexamen" (state Desktop: 47% Desktop: 63% examination for lawyers) and Awarded Doctorate in Apr 2018 Direct: 72%, Search: 10%, Ownership Private – VCs Law Sources Referrals: 10%, Other: 8% • He has a PMD from Harvard Business School SoftBank, Princeville Global, DST Gerhard Key Investors Global, Baillie Gifford, Piton Cromme Capital Funding $1.1bn Chairman NOAH Content AUTO1 Group at NOAH

Website auto1-group.com

COMPANY PROFILE AUTO1 GROUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • AUTO1 Group was founded by Christian Bertermann and Hakan Koç, both former Berlin based internet executives, in August 2012 to change the way cars Fireside chat with Marco Rodzynek Present your business proposal through are bought and sold. In 2014 former Groupon SVP Chris Muhr joined the team NOAH Connect app as co-founder and Chief Operating Officer • AUTO1 Group buys used cars from OEMs, dealerships and its own business units and sells them into its global dealership network. Prices are determined by its proprietary CORE pricing algorithm • The entire service including inspection and valuation is free of charge • AUTO1 is now trading with more than 35,000 professional partners and selling Attendees @ NOAH more than 40,000 cars per month Hakan Koç, Co-Founder & Co-CEO

Gerhard Cromme, Chairman

16 CONSUMER GOODS, RETAIL & ECOMMERCE Global Online Car Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Hakan Koc is Co-Founder & Co-CEO of AUTO1 Group, an online marketplace for the buying and Headquarters Berlin, Germany Unique Users 0.1m 0.1m selling of inspected used cars Founded 2012 Visits 0.6m 0.6m • He was previously the chief product officer at Home24.de Employees Over 1,000 Minutes 09:08 12:35 • Koc holds an LLB from Bucerius Law School Mobile: 52% Mobile: 37% Active Markets Global Sessions Desktop: 47% Desktop: 63% Apr 2018 Direct: 72%, Search: 10%, Ownership Private – VCs Sources Referrals: 10%, Other: 8% SoftBank, Princeville Global, DST Hakan Koç Key Investors Global, Baillie Gifford, Piton Capital Co-Founder & Funding $1.1bn Co-CEO NOAH Content AUTO1 Group at NOAH

Website auto1-group.com

COMPANY PROFILE AUTO1 GROUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • AUTO1 Group was founded by Christian Bertermann and Hakan Koç, both former Berlin based internet executives, in August 2012 to change the way cars Fireside chat with Marco Rodzynek Present your business proposal through are bought and sold. In 2014 former Groupon SVP Chris Muhr joined the team NOAH Connect app as co-founder and Chief Operating Officer • AUTO1 Group buys used cars from OEMs, dealerships and its own business units and sells them into its global dealership network. Prices are determined by its proprietary CORE pricing algorithm • The entire service including inspection and valuation is free of charge Attendees @ NOAH

Hakan Koç, Co-Founder & Co-CEO

Gerhard Cromme, Chairman

17 LENDING PLATFORMS Online Lending Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Raffael is the co-founder & CEO of auxmoney, the leading marketplace for consumer credit in continental Headquarters Düsseldorf, Germany Unique Users 0.2m 0.2m Europe Founded 2007 Visits 0.6m 0.5m • He also co-founded Excellion Capital, a London-based Employees 100-1,000 Minutes 05:31 04:34 merchant banking boutique specialised in corporate Mobile: 53% Mobile: 57% Active Markets National Sessions finance advisory and principal investments, leveraging Desktop: 47% Desktop: 43% technology Ownership Private - VCs Apr 2018 Direct: 54%, Search: 38%, Index Ventures, Union Square Sources Referrals: 3%, Other: 5% • Prior to founding his own businesses, Raffael was a Key Investors Ventures, Aegon, Foundation Vice President at Rothschild Investment Bank in Capital, Seven Ventures Frankfurt Raffael Johnen Funding $198m NOAH Content auxmoney at NOAH Co-Founder & Website auxmoney.com CEO Key Operational KPIs Loan Origination Volume in 2017 €316m Platform Funding Commitments €1bn+

COMPANY PROFILE AUXMONEY @ NOAH

Doing Business @ NOAH Main Presentation Topics • auxmoney is the largest credit marketplace in Continental Europe. On auxmoney, private and institutional investors invest directly in pre-approved 1. auxmoney growth story Partnerships Interest borrowers 2. Digitalization of Lending Banks that look to improve or enlarge their • To date, auxmoney has funded more than 100,000 loan requests with a total credit offering 3. Enlarging credit access volume of more than €800 million. Using its unique risk models and expertise in credit rating and underwriting, auxmoney can make more favourable loans available to more people, while enabling investors to benefit from attractive risk- Key Hires Interest adjusted returns Data Scientists, Risk Analysts, Data Engineers, Developer, Sales & Marketing • Leading VCs such as Index Ventures, Union Square Ventures, Foundation Attendees @ NOAH Professionals Capital and Partech Ventures are invested in auxmoney Raffael Johnen, Co-Founder & CEO

18 PAYMENTS Online International Money Transfer Service

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Michael Kent is a serial entrepreneur, who has spent the last decade building businesses in consumer Headquarters London, UK Unique Users 0.3m 0.3m financial services. He started Azimo to challenge high- transfer costs and drastically speed-up the way Founded 2012 Visits 1.0m 0.9m consumers send money abroad Employees 51-100 Minutes 05:58 04:23 • He founded Small World Financial Services Group in Mobile: 59% Mobile: 65% 2004, growing the multi billion-dollar company to Active Markets Global Sessions become Europe’s largest offline money transfer Desktop: 41% Desktop: 35% Apr 2018 Direct: 51%, Search: 26%, provider and a top ten player globally Ownership Private – VCs Sources Referrals: 3%, Other: 20% • Alongside Azimo, Michael founds and invests in e.ventures, MCI Capital, Michael Kent consumer-focused banks and financial services Key Investors Rakuten, Greycroft Partners, businesses (e.g. CorporatePay, Curve, YoYo Wallet, Frog Capital Founder & CEO ClarityFX) and advises institutional investors and blue- Funding $46m chip corporates on cross-border payments. He previously held senior M&A positions at WPP and NOAH Content Azimo at NOAH News Corp • Michael holds a MA from Cambridge University and a Website azimo.com MBA from INSEAD

COMPANY PROFILE AZIMO @ NOAH

• Launched in 2012, digital money transfer company Azimo was created to Doing Business @ NOAH Main Presentation Topics harness the smartphone revolution, disrupt the remittance sector and lower 1. Cross-border payments prices for migrants sending money home Partnerships Interest 2. Mobile payments • With the growth of mobile and the rising digital expectations of consumers, We are interested in establishing commercial 3. AI/Machine learning founder and CEO Michael Kent realised the power of a seamless, anywhere, partnership with companies that want to work anytime money transfer service that didn’t cost a huge fee with us in cross-border payments • Azimo now has over a million users connected to the service and has created the largest digital network in the world, enabling money to be sent to over 5 Key Hires Interest billion people in 190+ countries, from any internet-connected device We are always keen to hire great people in Attendees @ NOAH • Over 2.6 billion adults globally don’t have bank accounts. And even if sending the areas of AI/data sciences and product money to a bank account is possible, it’s not always the preferred option. Azimo Michael Kent, Founder & CEO can deliver the money in 80+ currencies to bank accounts, cash, mobile wallets, mobile top up as well as home delivery. • Azimo is at the fore-front of tech innovation and has partnered with Facebook and Apple amongst others, in order to provide a fast, simple and secure service to change the way people living abroad send money to their loved ones

19 HEALTHCARE, SCIENCE & EDUCATION Market-leading App for Language Learning

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Markus is one of the four founders of Babbel and leads the company as CEO Headquarters Berlin, Germany Unique Users 6.4m 5.5m • Before Babbel, Markus was engaged in various Founded 2007 Visits 11.3m 9.5m positioans at Native Instruments where was responsible for online marketing, web content and Employees 100-1,000 Minutes 03:24 04:12 technical infrastructure for six years Mobile: 52% Mobile: 48% Active Markets International Sessions • Prior, he was a university lecturer for cultural studies Desktop: 48% Desktop: 52% at the Humboldt Universität in Berlin Apr 2018 Direct: 37%, Search: 30%, Ownership Private – VCs Sources Referrals: 2%, Other: 31% Scottish Equity Partners, Nokia Markus Witte Key Investors Growth Partners, KIZOO, REV, IBB Beteiligungsgesellschaft Co-Founder & Funding $33m CEO NOAH Content Babbel at NOAH

Website babbel.com

COMPANY PROFILE BABBEL @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in 2007, Babbel is the world’s first language learning app N/A • A leader in the online language learning industry, Babbel is an international Present your business proposal through success with more than 1 million active subscribers and ranked as the world’s NOAH Connect app #1 innovative company in education • Our meticulously designed courses guarantee you language skills you can use right away. Babbel is the shortest path to real-life conversations; 73% of our users indicated that they’d be able to have a short, simple conversation in their new language within five hours of using Babbel Attendees @ NOAH

Markus Witte, Co-Founder & CEO

20 INVESTORS The Largest Series A Focused European Venture Capital Firm

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Suranga joined Balderton as a General Partner in 2013. He was previously an entrepreneur and Headquarters London, UK engineer • Suranga founded blinkx, the intelligent search engine Founded 2000 for video and audio content in Cambridge in 2004. He then led the company for eight years as CEO through its journey of moving to San Francisco, building a Funds Raised $2.3bn profitable business and going public in London where it achieved a peak market capitalisation in excess of Employees 26-50 $1Bn. Before founding blinkx, Suranga was an early Suranga employee at Autonomy Corporation - joining as an engineer in the Cambridge R&D team and ultimately Active Markets Global Chandratillake serving as the company's US CTO in San Francisco

Partner • Suranga has a MA in Computer Science from the NOAH Content Balderton at NOAH University of Cambridge

• He holds patents in the area of video discovery and Website balderton.com online video advertising.

INVESTOR PROFILE BALDERTON CAPITAL @ NOAH

Doing Business @ NOAH Main Presentation Topics • Balderton is the largest Europe focused venture fund. The company invest between $1m to $20m into companies with the potential to disrupt huge Panel discussion with Present your business proposal through industries, and the ambition to scale globally NOAH Connect app and • Balderton’s focuses on early stage, European technology businesses, with ambitious founders and unique approaches. • Balderton invests for the long term, with the ability to support our companies from start to exit

Attendees @ NOAH

Suranga Chandratillake, Partner

21 INVESTORS The Largest Series A Focused European Venture Capital Firm

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Rob joined Balderton Capital in 2009 and was promoted to partner in 2015 Headquarters London, UK • He is currently a board director or observer with five portfolio companies: Carwow, Wooga, Nutmeg, Founded 2000 Prodigy Finance, and Patients Know Best. Other investments he has worked with at Balderton include Qubit, Citymapper, Housetrip, Scoot and Archify Funds Raised $2.3bn • Rob's focus sector is fintech, in particular insurance and retail financial services. Marketing is a particular Employees 26-50 area of interest, and Rob is responsible for best Rob Moffat practice sharing in marketing across the portfolio Active Markets Global Partner • Prior to joining Balderton Rob worked for Google in London, as a Manager in the European Strategy and Operations team NOAH Content Balderton at NOAH • He started his career with five years in strategy consulting with Bain, and holds an MBA from INSEAD Website balderton.com and a Masters in Statistics from Cambridge

INVESTOR PROFILE BALDERTON CAPITAL @ NOAH

Doing Business @ NOAH Main Presentation Topics • Balderton is the largest Europe focused venture fund. The company invest between $1m to $20m into companies with the potential to disrupt huge Panel discussion with Present your business proposal through industries, and the ambition to scale globally NOAH Connect app and • Balderton’s focuses on early stage, European technology businesses, with ambitious founders and unique approaches. • Balderton invests for the long term, with the ability to support our companies from start to exit

Attendees @ NOAH

Rob Moffat, Partner

22 HEALTHCARE, SCIENCE & EDUCATION Global Life Sciene Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Saskia Steinacker was named Global Head of Digital Excellence in February 2017. In this capacity, she Headquarters Leverkusen, Germany Market Cap €87.2bn leads Bayer’s digital transformation in close collaboration with the Board of Management. Together Founded 1863 with the divisions and functions she developed the 2017 2018E Growth company’s Digital Agenda with a focus on new business models to accelerate new growth Employees 99,820+ Revenues €m 35,015 35,341 1% • From 2013-2016 she lead the global digital IT function for Bayer and prior to this the Bayer North America Active Markets Global EBITDA €m 8,801 9,443 7% Marketing & Sales IT unit Ownership Public (ETR) Margin % 25% 27% - Saskia • In 2004 she joined Bayer and held a succession of Steinacker roles in Marketing, ranging from Multichannel Marketer Temasek, Vanguard Group, Key Shareholders EV/Revenue 2.5x 2.5x (0%) to Head of Dialog Marketing for Diabetes Care. In this NBIM, BlackRock Global Head of capacity she redesigned the customer interaction of Investor the unit and launched a state-of the art CRM program. Click here to download EV/EBITDA 9.5x 9.4x (1%) Digital Presentations Excellence • She graduated from Ecosign Academy with a degree in Communication Design and holds a Master in Website bayer.com Business Administration from Liverpool University

COMPANY PROFILE BAYER @ NOAH

Doing Business @ NOAH Main Presentation Topics • Bayer is a Life Science company with a more than 150-year history and core competencies in the areas of health care and agriculture. With our innovative Women in Healthcare Panel Discussion Service Provider Interest products, we are contributing to finding solutions to some of the major with and Simone Menne challenges of our time Business Intelligence CI & Data Science • Together, the Life Science businesses make up a strong, attractive and balanced portfolio that is resistant to fluctuations in demand and to potential risks. Our operations are managed in three divisions – Pharmaceuticals, Consumer Health and Crop Science – and the Animal Health business unit, which are also reporting segments Attendees @ NOAH

Saskia Steinacker, Global Head of Digital Excellence

All financial actual data and estimates provided by CapitaIQ, as of 06/05/2018. 23 ONLINE FASHION Europe’s Most Exclusive Shopping Community

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Daniel Schustermann is the CEO of Schustermann & Borenstein, the leading exclusive omnichannel retail Headquarters Dornach, Germany Unique Users 0.4m 0.5m fashion community for private members in the DACH region. BestSecret is the subsidiary of Schustermann Founded 2007 Visits 1.8m 2.5m & Borenstein, and is an e-commerce company for designer merchandise Employees 100-1,000 Minutes 13:41 12:23 • Daniel received his higher education from European Business School Mobile: 44% Mobile: 54% Active Markets Global Sessions Desktop: 56% Desktop: 46% Apr 2018 Direct: 64%, Search: 16%, Ownership Private – VCs Daniel Sources Referrals: 4%, Other: 16% Schustermann Key Investors Ardian, Permira CEO, Schustermann & Funding €200m Borenstein Website bestsecret.com

COMPANY PROFILE BESTSECRET @ NOAH

Doing Business @ NOAH Main Presentation Topics • BestSecret offer exclusive insider access to the best brands at the best prices, each and every day Fireside chat with Present your business proposal through • Unlike other members’ shopping clubs that only order items in when the flash NOAH Connect app sale expires, our products are available immediately. We have over one million items in stock from over 3,000 brands in our state-of-the-art warehouse • Access to BestSecret is by-invite only. To become a member, you must be referred to join by another member or come through one of our limited and exclusive partnerships. Memberships can be found in anything from your magazine subscription to your credit card benefits package. However we do Attendees @ NOAH limit the number of members that come through partnership channels and can close the door at our perceived capacity Daniel Schustermann, CEO S&B

24 TRANSPORTATION & MOBILITY Leading Long-Distance Car Pooling Platform

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Prior to becoming Chief Executive Officer in October 2016, Nicolas oversaw BlaBlaCar’s global operations Headquarters Paris, France Unique Users 0.8m 0.9m and international growth as Chief Operating Officer since 2011. He led the company’s corporate Founded 2006 Visits 2.0m 1.8m development, overseeing eight acquisitions, Employees 100-1,000 expansion to twenty markets, and three successive Minutes 01:34 01:51 rounds of fundraising Active Markets Global Mobile: 82% Mobile: 77% Sessions • Prior to joining BlaBlaCar, Nicolas worked for several Desktop: 18% Desktop: 23% startups in Silicon Valley during the dotcom boom, Ownership Private - VCs before moving on to executive and investor roles, Apr 2018 Direct: 56%, Search: 39%, Sources Referrals: 1%, Other: 4% including spending time as a Venture Capitalist at Baring Vostok, Accel, Index Nicolas Key Investors Ventures, Insight, Lead Edge Brusson Amadeus Capital Partners in London • He holds an MBA from INSEAD, a Masters in Optics NOAH Content BlaBlaCar at NOAH Co-Founder & from Ecole Supérieure d’Optique and a Masters in CEO Applied Physics from Paris XI University Funding $335m • Nicolas is also an active angel investor and tweets @nbrusson Website blablacar.com

COMPANY PROFILE BLABLACAR @ NOAH

Doing Business @ NOAH Main Presentation Topics • BlaBlaCar is the world leading long-distance carpooling platform. It's a trusted community marketplace that connects car drivers with empty seats to N/A Present your business proposal through passengers looking for a ride, over average distances of 300km NOAH Connect app • With 60 million members worldwide and over 18 million travellers every quarter, BlaBlaCar is creating an entirely new, people powered, travel network. With a dedicated member relations service, a state of the art web and mobile platform, and a fast-growing trusted community, BlaBlaCar is making travel social, money-saving and more efficient for millions of members Attendees @ NOAH

Nicolas Brusson, Co-Founder & CEO

Chantal Ambord, General Manager

25 TRANSPORTATION & MOBILITY Leading Long-Distance Car Pooling Platform

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Chantal Ambord is a General Manager of BlaBlaPro team Headquarters Paris, France Unique Users 0.8m 0.9m • Before joining BlaBlaCar, Chantal spent five years Founded 2006 working in Asia, notably driving the marketing efforts of Visits 2.0m 1.8m the Hong Kong Stock Exchange in Europe and Employees 100-1,000 contributing to the listing of international companies Minutes 01:34 01:51 such as Prada in Hong Kong Active Markets Global Mobile: 82% Mobile: 77% Sessions • Chantal previous entrepreneurial experience include Desktop: 18% Desktop: 23% Ownership Private - VCs building Nextfunder, an equity crowdfunding platform, Apr 2018 Direct: 56%, Search: 39%, and the Women’s Exchange, an association to Sources Referrals: 1%, Other: 4% Baring Vostok, Accel, Index Chantal Ambord increase women leadership in Hong Kong’s financial Key Investors Ventures, Insight, Lead Edge industry General • Chantal speaks five languages and holds an MBA NOAH Content BlaBlaCar at NOAH Manager, degree from INSEAD BlaBlaPro Team Funding $335m

Website blablacar.com

COMPANY PROFILE BLABLACAR @ NOAH

Doing Business @ NOAH Main Presentation Topics • BlaBlaCar is the world leading long-distance carpooling platform. It's a trusted community marketplace that connects car drivers with empty seats to Fireside chat with Marco Rodzynek Present your business proposal through passengers looking for a ride, over average distances of 300km NOAH Connect app • With 60 million members worldwide and over 18 million travellers every quarter, BlaBlaCar is creating an entirely new, people powered, travel network. With a dedicated member relations service, a state of the art web and mobile platform, and a fast-growing trusted community, BlaBlaCar is making travel social, money-saving and more efficient for millions of members Attendees @ NOAH

Nicolas Brusson, Co-Founder & CEO

Chantal Ambord, General Manager

26 TRANSPORTATION & MOBILITY Global Professional Driver Services Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Dr. Jens Wohltorf is the CEO and co-founder of the global professional driver service Blacklane Headquarters Berlin, Germany Unique Users 0.1m 0.2m • Blacklane provides peace of mind for passengers and drivers in more than 50 countries and 250 cities Founded 2011 Visits 0.3m 0.4m around the world. Blacklane guarantees high-quality Employees 100-1,000 vehicles with commercially licensed and insured Minutes 02:11 02:43 drivers at fair, fixed and all-inclusive rates Active Markets Global Mobile: 38% Mobile: 49% • Prior to founding Blacklane, Jens Wohltorf worked as Sessions Principal at the Boston Consulting Group Product Desktop: 62% Desktop: 51% Click here to download Presentation • \Wohltorf studied industrial engineering at the Apr 2018 Direct: 24%, Search: 64%, Dr. Jens Sources Referrals: 4%, Other: 8% Technical University of Berlin with research Ownership Private – VCs Wohltorf residencies at the University of California, Berkeley, Daimler, ALFAHIM, btov and MIT, where he studied urban traffic patterns. In Key Investors Partners, ALSTIN Co-Founder & 2005 he completed his Ph.D. in Telecommunications CEO at the Distributed Artificial Intelligence Laboratory of Funding $83m the Technical University of Berlin Website blacklane.com

COMPANY PROFILE BLACKLANE @ NOAH

Doing Business @ NOAH Main Presentation Topics • Blacklane is the global professional driver service, covering the first and last miles of your journey 1. Global quality focus across all M&A Interest touchpoints • We provide peace of mind for passengers and drivers in more than 50 Open to discussions countries, 250 cities and 500 airports around the world 2. Growing the addressable market of worldwide chauffeur services • We guarantee high-quality rides at fair, fixed and all-inclusive rates Partnerships Interest 3. Expansion into adjacent airport • All drivers are commercially licensed and insured Travel and transportation concierge services market • Our state-of-the-art systems and a multi-lingual 24/7 Customer Service team coordinate tens of thousands of quality cars in real time Key Hires Interest Attendees @ NOAH • You can schedule rides on our website or mobile apps or via distribution and Hiring dozens of positions, including Head of channel partners Brand, senior developers and engineers, a Dr. Jens Wohltorf, Co-Founder & CEO senior designer, and several sales positions

27 MEDIA Leader in Global Business and Financial Information

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Financials • Stefan Nicola covers German technology, media and telecoms companies for Bloomberg News and Headquarters New York City, NY, US Revenues 2015 ~$9bn BloombergBusinessweek from Berlin Founded 1981

• He's a seasoned journalist with more than 12 years of Employees 19,000 Traffic Apr-17 Apr-18 reporting experience in fields ranging from renewable energy to arts and politics Active Markets Global Unique Users 43.5m 44.9m • Prior to joining Bloomberg, Stefan was the Europe Ownership Private Visits 107.5m 105.9m correspondent for United Press International (UPI) and NOAH Content Bloomberg at NOAH Minutes 07:20 08:55 wrote for publications including 11Freunde, the Mobile: 40% Mobile: 39% European Energy Review and Gruner + Jahr's VIEW Website bloomberg.com Sessions Stefan Nicola Desktop: 60% Desktop: 61% • He has covered events including the German and U.S. German presidential elections, G8, EU, NATO and U.N. climate Key Operating KPIs Apr 2018 Direct: 34%, Search: 40%, summits as well as the FIFA World Cup Sources Referrals: 10%, Other: 16% Telecoms, Tech Subscriptions (Bloomberg Professional) 325k and Media Stories Published (Bloomberg News) 5k / day Reporter Global Locations 192

COMPANY PROFILE BLOOMBERG @ NOAH

Doing Business @ NOAH Main Presentation Topics • Bloomberg is the world's primary distributor of financial data and a top news provider of the 21st century Fireside chat with Present your business proposal through • A global information and technology company, we use our dynamic network of NOAH Connect app data, ideas and analysis to solve difficult problems every day • Our customers around the world rely on us to deliver accurate, real-time business and market information that helps them make important financial decisions

Attendees @ NOAH

Stefan Nicola, German TMT Reporter

28 HEALTHCARE, SCIENCE & EDUCATION Supervisory Board Member of BMW, DPDHL, Springer Nature

SPEAKER PROFILE KEY COMPANY FACTS

• Simone Menne sits in the Supervisory Board Member BMW Group Deutsche Post DHL Group of BMW, DPDHL and Springer Nature Key Corporate Facts Key Corporate Facts • Previously, she was a Member of the Board of Managing Directors in charge of finance in Boehringer Headquarters Munich, Germany Headquarters Bonn, Germany Ingelheim Founded 1916 Founded 1995 • Prior to that, Simone has been the CFO and a Employees 129,932 member of the Executive Board of Deutsche Employees 510,000 Lufthansa since 2012. Between 1989 and 1999, Active Markets Global Simone held various positions in revenue accounting, Active Markets Global Ownership Public (ETR) working as the head of data processing and user Ownership Public (ETR) Simone Menne services, as a project manager. In 1999, she assumed Company Presentation Click here to download responsibility for commercial management and HR for NOAH Content BMW at NOAH Company Presentation FY 2017 Presentation Supervisory Lufthansa in Southwest Europe prior to taking over the Board Member of same position for all of Europe in London in 2001. In Website bmwgroup.com Website dpdhl.com BMW, DPDHL, 2004, Simone Menne was appointed VP Finance and Accounting at Lufthansa Technik before moving to Valuation Data and Key Financials Valuation Data and Key Financials Springer Nature British Midland Ltd. as the CFO in 2010 Market Cap €59.3bn Market Cap €46.6bn

COMPANY PROFILE SIMONE MENNE @ NOAH

Doing Business @ NOAH Main Presentation Topics BMW Group Deutsche Post DHL Group Women in Healthcare Panel Discussion • German multinational company which • German postal service and Present your business proposal through currently produces automobiles and international courier service NOAH Connect app with and motorcycles, and also produced company, the world's largest aircraft engines until 1945 • Four brands: Deutsche Post – offers • The company was founded in 1916 domestic mail services under its and has its headquarters in Munich, traditional name; the division is called Bavaria. BMW produces motor Post - eCommerce - Parcel (PeP); vehicles in Germany, Brazil, China, DHL Express – brand used as an Attendees @ NOAH India, South Africa, the United umbrella brand for worldwide logistics Kingdom and the United States services; Power Packaging – supplier Simone Menne, Supervisory Board • Automobiles are marketed under the of food and beverage contract Member of BMW, brands BMW (with sub-brands BMW manufacturing and packaging DPDHL, Springer M for performance models and BMW services to North American Nature StreetScooter i for plug-in electric cars), Mini and companies; - electric Rolls-Royce vehicle manufacturer.

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 29 INVESTORS VC Fund Focused on Mobility, Data and Energy Services

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Sohaila invests for BMW i Ventures in cutting-edge solutions focusing on BMW’s current and future business in the technology and customer & service Headquarters Munich, Germany space. In addition to the investment activities Sohaila works closely with BMW i Ventures’ portfolio companies. In her role as the Director of Platform, Founded 2011 Sohaila develops and implements strategic growth initiatives and provides operational support to these Current Fund Size €500m companies • The current portfolio of BMW i Ventures includes Sohaila Ouffata among others start-ups like May Mobility, Caroobi, Employees 4-10 Carbon and Moovit. Sohaila was always dedicated to Director of innovation and new business models Platform • Before joining BMW i Ventures Sohaila worked as a Active Markets Global Senior Innovation & New Business Manager within the Telecommunications and Media industry. Within these roles she launched over the last ten years digital Website bmwiventures.com products & services on a global scale

INVESTOR PROFILE BMW I VENTURES @ NOAH

Doing Business @ NOAH Main Presentation Topics • BMW i Ventures is BMW’s venture capital fund, invests money and resources in startups in the fields of autonomous driving, digital car and automotive cloud, e- 1. Context Future of Mobility & Service Providers Interest mobility, artificial Intelligence and data, industry 4.0, shared and on-demand Transportion Ecommerce Services (Platforms) mobility, customer digital life, and energy services 2. BMW i Ventures investment activities • The firm has already partnered with innovative companies such as Carbon3D, 3. BMW i Ventures platform / ecosystem Chargepoint, DesktopMetal, JustPark, Life360, Moovit, Nauto, Scoop, Stratim, Partnerships Interest approach Xometry and Zendrive. Venture capital deals • BMW i Ventures invests in all stages from seed and incubation to growth companies Attendees @ NOAH

Sohaila Ouffata, Director of Platform

30 CONSUMER GOODS, RETAIL & ECOMMERCE Premium Partner Online Platform for Luxury Watches

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Philipp Man is a confessing watch enthusiast • During his studies at the University of Cambridge, he Headquarters Zug, Switzerland Unique Users 16k 69k worked for the Boston Consulting Group, Founded 2013 GlencoreXstrata and various watch dealers in London Visits 40k 175k

• In 2013, he and Ludwig Wurlitzer founded the leading Employees 100-1,000 Minutes 00:51 01:20 e-commerce company to buy, sell and service luxury Active Markets International Mobile: 45% Mobile: 69% watches Sessions Desktop: 55% Desktop: 31% • Philipp studied at Cambridge University and King's Ownership Private – VCs Apr 2018 Direct: 11%, Search: 79%, College London Sources Referrals: 9%, Other: 1% Tengelman Ventures, Endeit Philipp Man Capital, Partech, Capnamic Key Investors Ventures, Inventure Partners, Co-Founder & JamJar, Altus Capital Partners CEO Funding $52m

NOAH Content Chronext at NOAH

Website chronext.com

COMPANY PROFILE CHRONEXT @ NOAH

Doing Business @ NOAH Main Presentation Topics • CHRONEXT is a full-service platform for luxury watch trading 1. Landscape of the watch industry • Users can buy and sell fine timepieces and also maintain their existing collection Present your business proposal through through our watchmaker services. Company’s concept follows two principles: NOAH Connect app 2. Performance Outlook 2017 / 2018 and security and customer-friendliness moving forward 3. Digitalisation of the watch industry • In addition to brand new models, CHRONEXT offers pre-owned and vintage timepieces • All watches offered by chronext have been verified by authentication & condition Attendees @ NOAH

Philipp Man, Co-Founder & CEO

31 HEALTHCARE, SCIENCE & EDUCATION Online Subscription-Based Fitness Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Payal Kadakia is the Founder & Executive Chairman of ClassPass, a membership program that provides Headquarters New York, NY, US Unique Users 0.2m 0.4m people of all fitness levels access to the best boutique studio classes across the US Founded 2013 Visits 0.09m 1.2m • Payal is also the Founder and Artistic Director of The Sa Dance Company, founded in 2009 with the mission Employees 100-1,000 Minutes 01:40 04:21 to increase awareness of Indian Dance in the mainstream and serve as a platform for expressing the Mobile: 11% Mobile: 34% Active Markets Global Sessions Indian-American identity through movement Desktop: 89% Desktop: 64% • Payal previously worked as a consultant at Bain & Apr 2018 Direct: 64%, Search: 30%, Ownership Private – VCs Payal Kadakia Company and holds a degree in Operations Research Sources Referrals: 2%, Other: 2% from MIT Founder & Key Investors General Catalyst, Temasek, GV Executive Chairman Funding $173m

Website classpass.com

COMPANY PROFILE CLASSPASS @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in 2013, ClassPass is a subscription marketplace that lets users find and book fitness classes Fireside chat with Present your business proposal through • With over 9,000 partners in 50 cities worldwide, ClassPass connects members NOAH Connect app to a variety of fitness experiences, including yoga, cycling, Pilates, barre, running, strength training, dance, sports, videos and more • Recognized as one of Forbes's Next Billion Dollar Startups, ClassPass leverages proprietary technology to dynamically merchandise and surface over a million fitness classes for a seamless booking experience that facilitates discover Attendees @ NOAH

Payal Kadakia, Founder & Executive Chairman

32 B2B & SOFTWARE Content Management Infrastructure

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Sascha is the CEO and co-founder of Contentful, the API-driven Content-as-a-service (CaaS) platform, Headquarters Berlin, Germany Unique Users 0.5m 0.3m where he is in charge of strategy development and implementation, business development and investor Founded 2012 Visits 1.0m 0.7m relations Employees 100-1,000 Minutes 02:40 05:41 • Prior to Contentful, Sascha worked as an IT consultant Mobile: 34% Mobile: 35% Active Markets Global Sessions and in HP's web operations team Desktop: 66% Desktop: 65% Apr 2018 Direct: 45%, Search: 27%, • Sascha grew up in Stuttgart, Germany, and earned his Ownership Private – VCs Diploma and BS in Business Information Technology Sources Referrals: 21%, Other: 7% Benchmark, General Catalyst, from the University of Cooperative Education in his Key Investors Balderton, Point Nine Sascha home city Konietzke Funding €38m Co-Founder & Website contentful.com CEO Key Operational KPIs

Developers 130,000

COMPANY PROFILE CONTENTFUL @ NOAH

Doing Business @ NOAH Main Presentation Topics • Contentful provides content infrastructure for digital teams to power websites, apps, and devices. Unlike a CMS, Contentful was built to integrate with the Panel discussion with and Service Providers Interest modern software stack Marketing • It offers a central hub for structured content, powerful management and delivery APIs, and a customizable web app that enables developers and content creators to ship their products faster Partnerships Interest Cloud players in the digital experience • Companies like Spotify, Red Bull, Optimizely, Twilio, and Urban Outfitters rely ecosystem (e.g. e-commerce, analytics) on Contentful to solve the complexities of content management in the modern multi-channel world Attendees @ NOAH Key Hires Interest • The demand for a new way to manage content is in the numbers: the company Sascha Konietzke, Co-Founder & CEO is growing rapidly and has raised nearly $50m from VC firms including General VP Engineering Catalyst, Benchmark, Balderton, Point Nine, and Trinity Ventures

33 B2B & SOFTWARE Software and Data Analytics Services for Claims Management Process

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Financials • In February 2017 Nicolas Witte, born in 1985, became the third Managing Director of Control€xpert – the Headquarters Langenfeld, Germany Revenues 2017 €51-100m high-tech-company and digitalization expert of the Founded 2002 EBITDA 2017 Profitable vehicle sector • Witte already started working for the company in 2010 Employees 100-1,000 Traffic Apr-17 Apr-18 as Director Business Development and focused Active Markets International Unique Users 6k 10k successfully on expanding the national and international business Ownership Private – VCs Visits 24k 30k

• In the recent years, he was mainly in charge for Key Investors General Atlantic Minutes 06:25 03:22 establishing the subsidiary in the USA and advanced Mobile: 45% Mobile: 69% Nicolas Witte Website controlexpert.com Sessions the international development intensively Desktop: 55% Desktop: 31% • Previously Witte worked for AUTOonline GmbH as Apr 2018 Direct: 59%, Search: 18%, Managing Key Operational KPIs Business Development Manager Sources Referrals: 3%, Other: 30% Director Number of checked claims per year 8m • Witte is a graduate engineer (FHDW Hannover) and has an MBA (FOM-Hochschule) focusing on Average saving per claim 10-15% economics and managemen Number of insurance clients 100+

COMPANY PROFILE CONTROL€XPERT @ NOAH

Doing Business @ NOAH Main Presentation Topics • We digitalize manual processes of insurance and leasing companies, repair shops, and OEMs in the automotive industry. As a service provider, we simplify 1. Virtual Car Inspection Service Providers Interest and accelerate complex transactions 2. Automatic Image Recognition Analytics (BI, CI & Data Science, KPI • We were founded in 2002. In the past the settlement of vehicle claims took a Analyses) 3. Evaluation of sensory data long time and was accordingly more expensive. Over the years, we increasingly standardized the knowledge of car experts in databases along with manufacturer data. This unique combination of IT and vehicle know-how is our recipe for success. Today we are able to perform audits of appraisals, estimates, invoices, and maintenance documents in a mostly fully-automated Attendees @ NOAH way • The customers benefit from our determination of high savings potential as well Nicolas Witte, Managing Director as transparent and accelerated processes. Today we audit more than 8 million vehicle claims per year with the help of over 700 colleagues at 16 locations. Each country has individualized products and services that are tailored to local requirements. Our customers include all major insurance and leasing companies, repair shops and OEMs in the automotive industry

34 FINTECH Swiss Real Estate Investment Platform

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Matthias Riedl co-founded DCMN with the mission of combining technology and media expertise to help digital businesses scale rapidly with trackable, ROI- Headquarters Zurich, Switzerland Unique Users 8k 27k driven offline and online campaigns

• At DCMN, he is responsible for strategic growth and Founded 2015 Visits 20k 67k manages key clients and partner relationships across the globe. Drawing from his experience as a serial entrepreneur in the e-commerce space, he knows Employees 51-100 Minutes 02:57 02:54 exactly how to address the needs of digital businesses • Before DCMN, Riedl founded and managed several e- Mobile: 0% Mobile: 55% Ardian Gjeloshi commerce ventures, and previously worked as a Active Markets National Sessions Desktop: 100% Desktop: 45% product manager in the music industry. In 2010, he Co-Founder & founded DCMN with long-time business partner Apr 2018 Direct: 57%, Search: 23%, Andreas Dengler. An early mover in performance- Ownership Private Chairman Sources Referrals: 9%, Other: 11% driven TV ad campaigns, DCMN has helped more than 180 digital brands scale their businesses Website crowdhouse.ch

COMPANY PROFILE CROWDHOUSE @ NOAH

Doing Business @ NOAH Main Presentation Topics • crowdhouse is a fast-growing Zurich-based Fintech company with the goal of bringing the Swiss real estate market into the 21st century through innovative 1. How a Swiss startup changed the way Present your business proposal through technologies we invest in real estate today? NOAH Connect app • Founded in 2015 by Robert Plantak, Ruedi Baer and Ardian Gjeloshi as a spin- 2. Business model, growth story off of their real estate company established in 2010, the company now employs 3. Vision, future more than 70 people • In cooperation with several renowned partners and the Luzerner Kantonalbank as strategic shareholder, crowdhouse creates completely new possibilities with the help of the newest technologies and innovative business models, when it Attendees @ NOAH comes to the participation, the financing, the management and the transaction of real estate Ardian Gjeloshi, Co-Founder & Chairman

35 MARKETING TECH Premium Partner Growth Marketing Solutions for Digital Brands

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Matthias Riedl co-founded DCMN with the mission of combining technology and media expertise to help digital businesses scale rapidly with trackable, ROI- Headquarters Berlin, Germany Unique Users 8k <5k driven offline and online campaigns

• At DCMN, he is responsible for strategic growth and Founded 2010 Visits 17k 10k manages key clients and partner relationships across the globe. Drawing from his experience as a serial entrepreneur in the e-commerce space, he knows Employees 100-1,000 Minutes 01:58 02:29 exactly how to address the needs of digital businesses • Before DCMN, Riedl founded and managed several e- Mobile: 14% Mobile: 20% Matthias Riedl commerce ventures, and previously worked as a Active Markets Global Sessions Desktop: 85% Desktop: 80% product manager in the music industry. In 2010, he Co-Founder & founded DCMN with long-time business partner Apr 2018 Direct: 39%, Search: 53%, Andreas Dengler. An early mover in performance- Ownership Private CGO Sources Referrals: 2%, Other: 16% driven TV ad campaigns, DCMN has helped more than 180 digital brands scale their businesses Website dcmn.com

COMPANY PROFILE DCMN @ NOAH

Doing Business @ NOAH Main Presentation Topics • DCMN helps digital brands to grow their business on a global scale with data- driven and creative marketing solutions. The full-stack growth specialist 1. Introducing the startup that grows Service Providers Interest executes campaigns across all media with services spanning creation and startups Ecommerce Services production, media planning and buying, and campaign optimization with their in- 2. Why growing together is fun house technology Offline Services 3. Growing the market leaders of tomorrow • With an international team of over 180+ experts in creative, media & technology Marketing and digital business DCMN is operating across the globe Analytics • Founded by Andreas Dengler and Matthias Riedl in 2010, the company has its Digital Services headquarters in Berlin and offices in Paris, London, New York, Bangalore, Attendees @ NOAH Gurgaon, Cape Town, Munich and Wroclaw Partnerships Interest Matthias Riedl, Co-Founder & CGO • DCMN counts more than 180 digital brands in its portfolio including Jimdo, We're looking for startups that want to grow eToro, real,-, Secret Escapes, Holidaycheck, Com2Us, Tado, Gameloft, Outfittery and Glossybox

36 B2B & SOFTWARE Data Driven Venture Capital Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Yoram founded dealroom.co in 2013. Before that he worked for 10 years in investment banking, advising Headquarters Amsterdam, Netherlands Unique Users 34k 19k media, telco and internet companies Visits 88k 46k • Worked at Lehman Brothers between 2004 and 2008 Founded 2013 in the Media Investment Banking Group in New York Minutes 06:37 05:27 and London. After Lehman’s collapse he and two Funding $0.5m Mobile: 1% Mobile: 26% Lehman colleagues created NOAH Advisors (and the Sessions NOAH Conference), an independent tech M&A Desktop: 99% Desktop: 74% boutique Employees 11-25 Apr 2018 Direct: 50%, Search: 33%, Sources Referrals: 7%, Other: 10% • Yoram worked at NOAH from 2009 to 2013. Yoram Yoram completed 21 M&A deals with over $10bn in combined Active Markets Global Wijngaarde value and for example led the sale of Fotolia.com to KKR ($500M), the acquisition of Bigpoint by Ownership Private – VCs Founder & CEO TA/Summit ($350m) and the sale of Softonic to Partners Group (€275m) NOAH Content Dealroom.co at NOAH

Website dealroom.co

COMPANY PROFILE DEALROOM.CO @ NOAH

Doing Business @ NOAH Main Presentation Topics • Dealroom.co helps corporations, investment firms and governments to identify & track growth opportunities and innovative companies, through intelligent data- Fireside chat with Marco Rodzynek Present your business proposal through driven software powered by a proprietary global database NOAH Connect app • Dealroom.co enables investors to track companies’ progress and decide the appropriate time to invest in them. Entrepreneurs are able to control investment interests and use Dealroom.co as their official channel for outgoing information to potential investors • Dealroom.co was founded in 2013 in London, United Kingdom Attendees @ NOAH

Yoram Wijngaarde, Founder & CEO

37 RESTAURANTS & FOOD DELIVERY Network of Online Food Ordering Sites

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Niklas Östberg is the Co-founder and CEO of Delivery Hero Headquarters Berlin, Germany Market Cap €7.3bn

• He has been involved in the start-up scene since the Founded 2011 Private Funding $2.6bn late 90’s after spending several years in banking and consultancy Employees 6,000+ 2017 2018E Growth

• Following five years as a management consultant at Active Markets Global Revenues €m 549 759 38% Oliver Wyman, he co-founded Pizza.nu (later OnlinePizza.se) where he served as the full-time Ownership Public (ETR) EBITDA €m (104) (60) (42%) chairman Naspers, Rocket Internet, Key Shareholders Margin % (19%) (8%) - Insight, Luxor • Niklas was responsible for building market leading Company Niklas Östberg Click here to download EV/Revenue 12.1x 8.8x (28%) online food ordering companies in Poland, Finland and Presentation Austria Co-Founder & Website deliveryhero.com CEO • Niklas holds a Master of Industrial Engineering & Management from Royal Institute of Technology Key Operating KPIs Stockholm & ETH Zurich GMV 2017 €3.8bn

Orders 2017 292m

COMPANY PROFILE DELIVERY HERO @ NOAH

Doing Business @ NOAH Main Presentation Topics • Delivery Hero is the largest food network in the world with more than 150.000 restaurant partners Fireside chat with Present your business proposal through • Operating in +40 markets with +6000 employees plus thousands of employed NOAH Connect app drivers. Global leader in the space with 291.5 million orders processed (2017) • More than $1.5 billion invested into Delivery Hero to date • Delivery Hero went public in a listing on the Frankfurt Stock Exchange, having its market debut on June 30th. The listing is the largest by a European technology business in almost two years. Delivery Hero raised almost €1bn from the offering. On the first day of trading the share price rose to €26.90, up 5.5 Attendees @ NOAH percent Niklas Östberg, Co-Founder & CEO

All financial actual data and estimates provided by CapitaIQ, as of 06/05/2018. 38 FINTECH Leading Open Banking Platform for Deposits

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Max von Bismarck is the CBO & MD of Deposit Solutions Headquarters Hamburg, Germany • He previously was Partner & CEO Europe of SkyBridge Capital, a global alternative asset Founded 2011 management firm with $11bn AUM Employees 100-1,000 • From 2005 until 2011 Max was Director and Head of Investors at the World Economic Forum in Geneva Active Markets International and New York • He holds a German law degree and a MA in Ownership Private – VCs Max von Leadership (World Economic Forum in collaboration with Wharton School of Business, Columbia Key Investors e.ventures, Greycroft Partners, Valar Ventures, Peter Thiel Bismarck University, INSEAD and London Business School) CBO & Managing • He also serves as a Senior Advisor Europe to the Funding $44m Berggruen Institute and is a former Senior Advisor on Director Global Business at the Asia-Pacific Research Center NOAH Content Deposit Solutions at NOAH of Stanford University Website deposit-solutions.com

COMPANY PROFILE DEPOSIT SOLUTIONS @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in 2011 Deposit Solutions is a globally recognized fintech company that is transforming the €10 trillion savings deposit market in Europe to the N/A Present your business proposal through benefit of people, healthy banks and society at large NOAH Connect app • Its ground-breaking Open Banking platform allows banks to gather retail deposits from across Europe without facing the need to build their own retail infrastructure. In addition, other banks who hold an excess of liquidity can release it by offering third-party savings deposit products to their own clients who can access them without having to open a new account at another bank. • As a result, savers across Europe can access best in class savings offers Attendees @ NOAH through their home bank. Today this leading Open Banking platform is already CBO & Managing connecting banks from 15 European countries (including well recognized global Max von Bismarck, Director institutions such as Deutsche Bank or Fidelity) and can reach more than 20 million savers

39 TELECOMMUNICATIONS Global Telecommunications Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Claudia Nemat has been a member of the Board of Management of Deutsche Telekom AG since Oct-11 Headquarters Bonn, Germany Market Cap €69.1bn

• Before joining Deutsche Telekom AG, Claudia Nemat Founded 1995 spent 17 years working for McKinsey&Company where she was elected Partner in 2000, and Senior Employees 217,000+ 2017 2018E Growth Partner (“Director”) in 2006 Active Markets Global Revenues €m 75,120 74,171 (1%) • Mrs. Nemat has worked in numerous European countries as well as North and South America. She Ownership Public (ETR) EBITDA €m 22,360 22,408 0% was a member of the Supervisory Board of Lanxess Federal Republic of Germany, Key Shareholders Margin % 30% 30% - AG from 2013 until 2016 KfW Claudia Nemat • She has been a member of the Board of Directors of Annual Report Click here to download EV/Revenue 1.8x 1.8x 1% Airbus Group and a member of the Supervisory Board Board Member Website telekom.com EV/EBITDA 6.0x 6.0x (0%) of Airbus Defence and Space GmbH since May 2016 for Technology • Claudia Nemat studied physics at University of Key Operating KPIs and Innovation Cologne, where she has also taught at the department Total Customers 156m of Physics and Mathematics Broadband Lines Length 19m+

COMPANY PROFILE DEUTSCHE TELEKOM @ NOAH

Doing Business @ NOAH Main Presentation Topics • We provide fixed-network/broadband, mobile communications, Internet, and IPTV products and services for consumers, and information and communication N/A Present your business proposal through technology (ICT) solutions for business and corporate customers. NOAH Connect app • Deutsche Telekom is present in more than 50 countries. With a staff of some 216,000 employees throughout the world, we generated revenue of 74,9 billion Euros in the 2017 financial year, about 66 percent of it outside Germany • So that we can continue to be successful, we are already evolving from a traditional telephone company into an entirely new kind of service company. Our core business, i.e., the operation and sale of networks and connections, Attendees @ NOAH remains the basis. But at the same time we are proactively committing to business areas that open up new growth opportunities for us. Claudia Nemat, Board Member for Technology and • With some 156 million mobile customers, 29 million fixed-network lines and Innovation more than 19 million broadband lines, Deutsche Telekom is paving the way for the gigabit society • Deutsche Telekom was founded in 1995 and is based in Bonn, Germany

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 40 HEALTHCARE, SCIENCE & EDUCATION Online and Mobile Booking Platform for Medical Appointments

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Born in 1987 in Paris Stanislas Niox-Chateau had a promising career in top level tennis, before turning to Headquarters Paris, France Unique Users 3.1m 4.9m entrepreneurship • Stan then co-founded Otium Capital and participated Founded 2013 Visits 6.2m 10.0m in the launch of several web companies (La Fourchette, Weekendesk and Balinea) Employees 100-1,000 Minutes 05:03 04:50 Mobile: 57% Mobile: 57% • Stan co-founded Doctolib in October 2013. In merely 4 Active Markets International Sessions years, Doctolib became the European leader for online Desktop: 43% Desktop: 43% Apr 2018 Direct: 34%, Search: 60%, booking of medical appointments and internet services Ownership Private – VCs for healthcare professionals, serving 45 000 doctors, 1 Sources Referrals: 3%, Other: 4% Eurazeo, Bpifrance, Accel Stanislas Niox- 000 healthcare facilities, and with 16 million patients Key Investors Chateau every month Partners, Kerala Ventures Funding $96m CEO NOAH Content Doctolib at NOAH

Website doctolib.fr

COMPANY PROFILE DOCTOLIB @ NOAH

Doing Business @ NOAH Main Presentation Topics • Created in 2013, Doctolib is the European leader for online booking of medical appointments and internet services for healthcare professionals. For 1. Healthcare Present your business proposal through professionals and healthcare centers, Doctolib offers an appointment NOAH Connect app 2. Startup management SaaS software, as well as services to manage their consultations, 3. International communicate with their patients and work with other healthcare professionals • For patients, Doctolib eases their healthcare experience: the search for information and booking of appointments is freely available online, 24/7, and a consultation booklet is accessible online • The company numbers 450 employees in France and Germany. In France, it Attendees @ NOAH works with 45,000 healthcare professionals and 1 000 (private and public) healthcare facilities Stanislas Niox-Chateau, CEO • In Germany, Doctolib is present in 5 cities (Berlin, Munich, Hamburg, Cologne et Düsseldorf), numbers 1,000 healthcare professionals and large hospital groups using the service and already registered 1.5 million medical appointments

41 B2B & SOFTWARE Electronic Signature Platform

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Operating KPIs • As the Chief Product Officer for DocuSign, Ron leads the product and customer experience teams. Headquarters Purchase, NY, US Customers 100m+ • Ron has more than 20 years of product management and general management experience in large and Founded 1966 entrepreneurial ventures. He was most recently an Paying Customers 370k+ Entrepreneur in Residence at Khosla Ventures and Mayfield Fund, prior to serving as President, co- Employees 10,000+ founder at Boku, Inc. Before Boku, Ron was VP, Product Management at AT&T Interactive, where he Valuation Data and Key Financials was responsible for new and existing advertising Active Markets Global products. He served as VP, Product Management for Ron Hirson Market Cap $6.4bn Ingenio and prior to that was Co-Founder CEO of The Ownership Public (NASDAQ) Chief Product Digs Interactive. Ron began his career as a Officer management consultant with Price Waterhouse. He is an inventor on 67 issued patents and has over 100 Private Funding $515m filings.

• Ron is a board member of UCSF Ophthalmology Website docusign.com Department’s fundraising arm, That Man May See

COMPANY PROFILE DOCUSIGN @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in 2003, DocuSign® offers the leading e-signature solution as part of its broader platform for automating the agreement process 1. Scaling companies from 0 to 1000+ M&A Interest employees • Today, DocuSign's cloud-based platform enables more than 370,000 eSignature Vendors, Digital Signature 2. Doing "well" while doing "good." How companies and hundreds of millions of users in over 180 countries to accelerate Vendors, CLM Providers business and simplify life digital transformation can also help socially and environmentally Key Hires Interest 3. Two acquisitions, Two IPO's - One Engineers leaders start-up experience

Attendees @ NOAH Ron Hirson, Chief Product Officer Frank Harter, AVP Enterprise Sales Olivier Pin, GM France Scott Barmmer, SVP International Sales Lorenzo Stranges, Director, Marketing

All financial actual data and estimates provided by CapitaIQ, as of 06/05/2018. 42 TRANSPORTATION & MOBILITY European P2P Car Rental Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Paulin is the founder and CEO of Drivy, Europe’s leading carsharing platform. He launched Drivy in Headquarters Paris, France Unique Users 0.3m 0.4m 2010 in France, with the idea of sharing idle private cars to offset the high cost of ownership while Founded 2011 Visits 0.9m 0.8m providing a great mobility option to neighbours • With his team, he then moved on to a much more Employees 100-1,000 Minutes 05:57 06:25 ambitious goal: making Drivy so convenient it could Mobile: 53% Mobile: 52% Sessions replace car ownership altogether and have a positive Active Markets International Desktop: 47% Desktop: 48% environmental impact on cities. Apr 2018 Direct: 38%, Search: 52%, Ownership Private – VCs • Paulin, an HEC graduate, started his career in the Sources Referrals: 5%, Other: 5% Paulin Alven Capital, Index Ventures, container shipping sector where he held regional Key Investors Dementhon management positions in Hong Kong and Sao Paulo. Nokia Growth Partners He is passionate about mobility, sustainability, and an Funding €47m Founder & CEO avid urban bike rider • Paulin is 39, lives in Paris and is a father of 2 NOAH Content Drivy at NOAH

Website drivy.com

COMPANY PROFILE DRIVY @ NOAH

Doing Business @ NOAH Main Presentation Topics • Drivy is the leading carsharing platform in Europe, with 50,000 cars in 6 countries. Car-free urban people use the app to find a car around the corner, 1. Drivy's evolution as a marketplace over Service Providers Interest open it with their phone and use it for a few hours to a few days to go where the last 7 years Ecommerce Services – Platforms they need to 2. Why the entire automotive value chain is Mobility & Transport platforms • Drivy’s fleet is crowdsourced from private people who want to offset their cost, now on Drivy? and professional fleet owners who are investing in mobility. 3. What's the future of new mobility platforms? • Drivy is bringing fresh air to urban people, providing more freedom to move while using fewer cars and less parking space Attendees @ NOAH

Paulin Dementhon, Founder & CEO Nils Rossmeisl, Country Manager DE Patrick Foster, COO Sviatoslav Beysens, Head of Public Affairs Mats Joosten, Comms Manager, DE & AT

43 PROPTECH Premium Partner Real Estate Technology Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Coen van Oostrom is Founder & CEO of EDGE Technologies and OVG Real Estate, one of Europe’s largest commercial property developers and a global Headquarters Amsterdam, Netherlands Unique Users - <5k leader in tech-enabled green building design

• Since founding the firm in 1997, Coen has led the Founded 2018 Visits - <5k growth of OVG to its current scope with more than a million square meters of development in the Netherlands, Germany and United States. In January Employees 51-100 Minutes - 00:05 2018 he founded EDGE Technologies, a real estate technology company, that specialises in development Mobile: 34% Coen van and operation of a new generation of buildings with a Active Markets International Sessions - Desktop: 66% Oostrom primary focus on the health of people and the planet • By combining decades of experience in the real estate Apr 2018 Direct: 68%, Search: 7%, and technology industry, EDGE Technologies Ownership Private CEO Sources Referrals: 21%, Other: 4% incorporates a technology driven operations platform that delivers the best buildings and solutions for ambitious customers worldwide Website edge.tech

COMPANY PROFILE EDGE TECHNOLOGIES @ NOAH

Doing Business @ NOAH Main Presentation Topics • We develop and operate the best buildings and environments actively contributing to the wellbeing of people and the world. We combine decades of 1. Future of work Present your business proposal through experience in real estate with proven innovation and results in big data, smart NOAH Connect app 2. Sustainability technology and systems 3. Wellbeing • Our team commits to making the built environment greener, smarter, and healthier with a user-centered approach that intuitively learns from use Attendees @ NOAH • EDGE Technologies is owned by OVG Real Estate, with offices in Amsterdam, Berlin, Hamburg, and New York and incorporates a technology-driven Coen van Oostrom, CEO operations platform that delivers the best buildings and solutions for ambitious Martin Rodeck, Executive MD Germany customers, worldwide Cees van der Spek, Public Affairs Jacob Bro, Advisor Zoé Fabian, Advisor Johannes Metzler, Advisor Sophie Block, Commercial Manager Alexander Guttmann, Commercial Manager

44 INVESTORS Company Builder Investing in “Pre-team, Pre-idea” Projects

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Backed Companies • Alice Bentinck is co-founder of Entrepreneur First, the early stage investor that builds deep tech companies from scratch Headquarters London, UK • EF invests in individuals with computer science and engineering backgrounds and has built more than 100 companies. Their portfolio includes exits such as Magic Founded 2011 Pony Technology to Twitter for a reported $150m and Represent to Custom Inc for close to $100m • Alice set up Code First: Girls, a not-for-profit that helps Employees 1-10 young women explore careers in technology, including Alice Bentinck teaching them to code for free Co-Founder • She is also on the Imperial College Computer Science Industrial Liaison Board and was made an MBE in Active Markets Global 2016

Website joinef.com

INVESTOR PROFILE ENTREPRENEUR FIRST @ NOAH

Doing Business @ NOAH Main Presentation Topics • Entrepreneur First brings together extraordinary people to build startups from scratch in London and Singapore. We fund individuals and help build N/A Present your business proposal through cofounding teams, develop ideas, and accelerate through fundraising from the NOAH Connect app world's best investors. We are backed by Reid Hoffman, Greylock Partners, Founders Fund, Mosaic Ventures and Lakestar • To date we have helped over 500 individuals build 100+ companies in London and Singapore with a total valuation of over $1 billion. Our major exits to date include Magic Pony, which was acquired by Twitter for a reported $150m only 18 months after the Founders met on the EF programme Attendees @ NOAH • EF has won Best European Startup Accelerator at The Europas 2016 & 2017, Best Seed Fund and Best Exit at Investor Allstars 2016 Alice Bentinck, Co-Founder • In 2016 I was awarded an MBE for services to business and I won the Veuve Cliquot New Generation award 2017

45 SERVICE PROVIDERS Executive Search Firm

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Based in Berlin, Mark Krymalowski leads the digital segment of Egon Zehnder’s Technology and Headquarters Zurich, Switzerland Communications Practice in Europe and is active in the Consumer Practice. His deep expertise in digital transformation helps him to guide innovation and Founded 1964 recruitment for start-ups and established digital and media companies Employees 450+ consultants • Prior to joining Egon Zehnder, Mark was Assistant Director and China Practice Leader with Altium Capital AG, based in Zurich. Previously, he was Cofounder Active Markets Global Mark and COO of Asia Gateway, based in London, and advised European companies doing business in Ownership Private Krymalowski China. Earlier, Mark was a Political Analyst with Stern, Malkinson & Partners, based in Brussels Head of European NOAH Content Egon Zehnder at NOAH Tech. & Comms. • Mark has a Diplom-Kaufmann in business administration from the University of Cologne, in Digital Practice Germany, and he participated in the International Website egonzehnder.com Exchange Program at the London Business School

COMPANY PROFILE EGON ZEHNDER @ NOAH

Doing Business @ NOAH Main Presentation Topics • At Egon Zehnder, we operate as one unified team, with expertise across industries, sectors and geographies. With more than 450 consultants globally, Fireside chat with our teams specialize in executive and CEO search, Board advisory, CEO Present your business proposal through succession, executive assessment and development, team effectiveness, NOAH Connect app culture, and organizational transformation • We focus on your specific leadership needs, whether facing disruption, mergers and acquisitions, global expansion, family business generational shifts or the challenge of driving growth

• We have extensive expertise working closely with operating partners, CEOs and Attendees @ NOAH governing boards of many of the world’s most successful companies. We provide the leadership solutions that will ensure your organization’s success— Mark Krymalowski, Head of European for today and the future Tech. & Comms. • In Executive Search, we have assisted more than 1,200 CEOs in the past five Digital Practice years, advising boards through a robust and future-oriented process. Our global Board Practice, with a unique reach and deep network, has performed over 3,600 assignments and placements in the past five years alone

46 HEALTHCARE, SCIENCE & EDUCATION Cloud-Connected Gym Equipment and Software

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Philipp was an unsuccessful gym goer and decided to found eGym in 2010 with the vision to make the gym Headquarters Munich, Germany work for everyone. Prior, he studied Business and Technology Management at Columbia University in Founded 2011 New York, LMU Munich, TU Munich and Aarhus University. eGym combines latest machine Employees 100-1,000 technology, powered by German engineering, with the advantages of connected mobile applications to Active Markets Global deliver intuitive and effective workouts with more fun and data-driven member support. In addition eGym Ownership Private – VCs also supports Corporate Fitness offering easier access Philipp Roesch- to gyms for employees in order to stay fitter, be more Key Investors European Investment Bank, HPE Growth Capital, Highland Europe Schlanderer productive and less absent. In only a few years of strong growth, eGym developed to one of the major Funding $90m+ CEO players in the European fitness market, implementing its technology at leading fitness chains and franchises. NOAH Content eGym at NOAH Overall, eGym raised over 90 Mio. USD in venture capital from large investors and is now entering the US Website egym.com market

COMPANY PROFILE EGYM @ NOAH

Doing Business @ NOAH Main Presentation Topics • eGym combines latest machine technology, powered by German engineering, with the advantages of connected mobile applications to deliver intuitive and Fireside chat with Present your business proposal through effective workouts with more fun and data-driven member support NOAH Connect app • In addition eGym also supports Corporate Fitness offering easier access to gyms for employees in order to stay fitter, be more productive and less absent. In only a few years of strong growth, eGym developed to one of the major players in the European fitness market, implementing its technology at leading fitness chains and franchises • Overall, eGym raised over 90 Mio. USD in venture capital from large investors Attendees @ NOAH and is now entering the US market Philipp Roesch-Schlanderer, CEO

47 DIGITAL & TMT Music Company Producing Music for Online Creators

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Oscar Hoglund is the CEO and Co-Founder of Stockholm’s best kept secret, Epidemic Sound. Headquarters Stockholm, Sweden Unique Users 1.2m 1.6m • Oscar has led the company to be one of the hottest startups to come out of the Nordic tech hub according Founded 2009 Visits 2.8m 3.5m to Wire • Epidemic Sound is a music company soundtracking Employees 100-1,000 Minutes 03:11 03:52 the new generation of online creators. With half a Mobile: 43% Mobile: 35% million subscribers and a library of more than 180 Active Markets Global Sessions music genres, the business is looking to disrupt the Desktop: 57% Desktop: 65% music industry Apr 2018 Direct: 44%, Search: 20%, Ownership Private – VCs Oscar Höglund Sources Social: 33%, Other: 3% • Oscar has a background in television production and management consultancy. He was a part of the Co-Founder & Key Investors EQT, Creandum, Kichi Invest management team for Zodiak Television which has CEO produced popular shows such as The Inbetweeners and Wife Swap. Oscar also worked at The Boston Funding $39m Consulting Group Website epidemicsound.com

COMPANY PROFILE EPIDEMIC SOUND @ NOAH

Doing Business @ NOAH Main Presentation Topics • Epidemic Sound is a new breed of music company founded in 2009 with a mission to make the music industry a better place. It collaborates with musicians 1. Transforming the music industry Service Providers Interest all over the world to produce quality music that soundtracks people’s lives 2. Digital transformations Digital Services • Our music can be heard soundtracking everything from TV and film productions 3. Copyright music to online videos on YouTube or Facebook - consumers can also listen to tracks on streaming platforms such as Spotify • With music spanning over 180 genres and 30,000 tracks and all music available in prime time broadcast quality, the creative possibilities are endless Attendees @ NOAH

Oscar Höglund, CEO Himangini Khanna, MS

48 TRAVEL & TOURISM Travel Marketplace Connecting Travellers Directly With ‘The Local Experts’

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Eric is is a co-founder and CEO of Evaneos as of 2009 Headquarters Paris, France Unique Users • After two years spent working as a strategy consultant, Eric left his job as a consultant and with his Founded 2009 Visits newly found associate, Yvan Wibaux, they spent nine months coming up with a concept and breathing life Employees 100-1,000 Minutes into it. Finally in June 2009, Evaneos.com emerged to Mobile: x% Mobile: x% Sessions become a European Leader and recognized as a Active Markets International Desktop: x% Desktop: x% game changer of the travel industry 8 years later Apr 2018 Direct: xx%, Search: xx%, Ownership Private - VCs • He is 36 years old, graduated from Supélec Sources Referrals: xx%, Other: xx% Eric La (Engineering School), then from HEC Paris, followed Key Investors ISAI, Xange, BPI, Serena Capital Bonnardière by a year at KTH (Royal Institute of Technology, Stockholm) Funding €23m CEO • Husband and recently-turned father Eric is a true Epicurean, an amateur tennis player and skier. It NOAH Content Evaneos at NOAH would be his lifelong dream to venture to Uganda and come face to face with their legendary gorillas Website evaneos.net

COMPANY PROFILE EVANEOS @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in France in 2009, Evaneos is the first online marketplace connecting travellers directly with ‘the local experts,’ 1.000 hand-picked, on-site travel 1. Multiday tours Present your business proposal through agents in over 160 destinations across the globe. As one of the leading online NOAH Connect app 2. Marketplace travel players in Europe, Evaneos allows holidaymakers to create tailor-made 3. International scale trips directly and securely through local travel agencies, and this platform is set to revolutionise the way travellers book their discovery and adventure holidays • At 8 years since the conception of the Evaneos brand, Evaneos now consists of an international team of about 150 people and is present across 8 European markets. Thanks to its unique, 100% customisable trips, the Evaneos team has Attendees @ NOAH enabled more than 200,000 travellers to realise their dream holiday, at a traveller satisfaction rate of 96% Eric La Bonnardière, CEO

49 SERVICE PROVIDERS Premium Partner Global Professional Services Firm

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Julie Linn Teigland joined EY in 2001, where she was Traffic Apr-17 Apr-18 made partner in 2002. Having built up human capital Headquarters London, UK Unique Users 2.3m 2.4m services in Mannheim, she took on responsibility for EY’s strategic growth portfolio, first in Germany, then in Central Europe and finally for EMEIA Founded 1989 Visits 4.2m 4.1m • From 2002 onward Julie increasingly focused her time in assurance, advising and auditing many growth Employees 247,570 Minutes 02:26 02:56 companies through capital market transactions, IFRS and US GAAP accounting issue. Julie also went on to Mobile: 42% Mobile: 38% serve several Fortune 500 clients as lead audit partner, Active Markets Global Sessions focusing her efforts increasingly on the life science sector Desktop: 58% Desktop: 62% Julie Linn • In 2011 she became a member of the executive Apr 2018 Direct: 23%, Search: 57%, Ownership Private Teigland committee for EMEIA, as Managing Partner for EMEIA Sources Referrals: 11%, Other: 9% Managing Partner Accounts and was given responsibility for accounts and market development EY Germany, NOAH Content EY at NOAH Switzerland, Austria • In August 2015 she was appointed Managing Partner for EY for the GSA region and has assumed operational Website ey.com responsibility of this role as of July 1, 2016

COMPANY PROFILE EY @ NOAH

Doing Business @ NOAH Main Presentation Topics • EY is one of the world's largest accounting and consulting organizations with 247,570 employees. The global EY organization is a leader in assurance, tax, Women in Healthcare Panel Discussion Present your business proposal through transaction and advisory services NOAH Connect app with and Simone Menne • EY’s employees in more than 700 offices in more than 150 countries offer comprehensive professional expertise with globally uniform quality standards. • We leverage our experience, knowledge and services to help build trust and confidence in the capital markets and in economies the world over • Our global purpose is to drive progress and make a difference by building a better working world – for our people, for our clients and for our communities Attendees @ NOAH Julie Linn Teigland, Managing Partner EY GSA

50 FINTECH Italy's Largest Car Insurance Broker and Comparison Portal for Gas and Electricity

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Mauro Giacobbe is the CEO of facile.it, the leading financial products and utilities aggregator in Italy Headquarters Milan, Italy • He previously was a Consultant at The Boston Consulting Group, where he worked within financial Founded 2010 services and media practice • Mauro studied at University of Genova and Bocconi Employees 200+ University and obtained an MBA at SDA Bocconi Active Markets National

Mauro Giacobbe Ownership Private – VCs

CEO Key Investors Oakley Capital

NOAH Content facile.it at NOAH

Website facile.it

COMPANY PROFILE FACILE.IT @ NOAH

Doing Business @ NOAH Main Presentation Topics • facile.it is the leading financial products and utilities aggregator in Italy N/A • facile.it compares insurance, mortgages, loans, broadband, utilities, with a #1 or Present your business proposal through #2 position in each vertical covered NOAH Connect app • facile.it is controlled by Oakley Capital Private Equity

• Business / revenue model: Commissions paid by providers on contract sold. On insurance, additional commissions on renewed contracts Attendees @ NOAH

Mauro Giacobbe, CEO • Addressable market size: €16bn motor insurance premium, 4 millions switchers and new contracts/year on utilities, €>55bn /year flow on mortgages and loans

51 TRANSPORTATION & MOBILITY European Long Distance Mobility Provider

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Financials • Jochen Engert is Founder & CEO of FlixBus and responsible for Corporate Development & Strategy as Headquarters Munich, Germany Revenues 2017 €100-1,000m well as Human Resources

• Organizing ski trips by bus during university had been Founded 2012 EBITDA 2017 Profitable his very first and only link to the bus industry until he started his own business by becoming Europe's Employees 10-100 largest provider of long-distance buses Traffic Apr-17 Apr-18

• Before starting up with FlixBus in 2012, he was Active Markets International Unique Users 1.6m 2.0m working as Strategy Consultant for The Boston Consulting Group for companies from different sectors Ownership Private – VCs Visits 3.7m 4.0m Jochen Engert all over the world Silverlake, General Atlantic, Founder & CEO • Jochen studied Business Administration with technical Key Investors Minutes 04:43 04:50 and financial orientation at Universities in Stuttgart, Holtzbrinck, Daimler Hohenheim & Ottawa Mobile: 62% Mobile: 48% NOAH Content FlixBus at NOAH Sessions Desktop: 38% Desktop: 52% Apr 2018 Direct: 34%, Search: 46%, Website flixbus.com Sources Referrals: 12%, Other: 8%

COMPANY PROFILE FLIXBUS @ NOAH

Doing Business @ NOAH Main Presentation Topics • Lalafo is a mobile marketplace that uses computer vision and natural language processing to simplify peer-to-peer trade 1. Global Mobility Market and Major Trends M&A Interest 2. Flix Business Model • The company applies computer vision and NLP to re-imagine the way people Active M&A strategy in multiple countries sell second hand items, cars, find real estate, jobs and services and verticals 3. Expansion Strategy • Launched in September 2015 Lalafo is growing exponentially, in 2016 Lalafo users listed items worth over $10bn • Currently most of Lalafo users come from Central Asia & Europe where Lalafo is #1 C2C marketplace in a number of markets Attendees @ NOAH

Jochen Engert, Founder & CEO

Bettina Engert, Head of Corporate Communications

52 PAYMENTS AI-Powered Payment Security Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Max is the CEO & Founder of Fraugster • Before founding Fraugster, he co-founded the Headquarters Berlin, Germany Unique Users <5k <5k payment gateway company Better Payment Founded 2014 • He was also the product evangelist at the mPOS Visits <5k 6k company SumUp Employees 26-50 Minutes 01:00 01:11

Active Markets Global Mobile: 0% Mobile: 44% Sessions Product Desktop: 100% Desktop: 56% Click here to download Max Laemmle Presentation Apr 2018 Direct: 32%, Search: 36%, Sources Referrals: 19%, Other: 13% Founder & CEO Funding €10m

NOAH Content Fraugster at NOAH

Website fraugster.com

COMPANY PROFILE FRAUGSTER @ NOAH

Doing Business @ NOAH Main Presentation Topics • Fraugster is a German-Israeli payment security company leading the future of fraud prevention with Artificial Intelligence 1. Payment security Service Provider Interest 2. Artificial Intelligence • With the vision to create a fraud free world, we have designed and built a Ecommerce Services – Platforms proprietary Artificial Intelligence technology that not only eliminates payment 3. Fraud Management fraud but also maximizes revenues for e-commcerce merchants Partnerships Interest • Fraugster was founded in 2014 by Max Laemmle and Chen Zamir and has been Investor, Payment companies, Ecommerce operating across the globe since 2016 market • We are currently responsible for tens of billions of dollars for our clients and our products are used and trusted internationally by leading payment companies Attendees @ NOAH Key Hires Interest such as Ingenico, Six Payment Services and Credorax Engineers, Data Science, Operations Max Laemmle, Founder & CEO Manager, Business Development Manager Andreas Schröteler, CFO

53 INVESTORS Growth Capital Investor Focused on Technology-Led Businesses in Europe

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Shirin founded, expanded and subsequently sold mobile communications business Arieso Headquarters London, UK • A University of Southampton Engineering alumna, she has over 20 years’ experience in the software and Founded 2008 mobile communications industry • She is a senior partner at Frog Capital, a leading European VC focused on the scale up stage and Non- Funds Raised €180m exec Chairwoman of Opensignal, a UK based company that sets the gold standard for mobile Current Fund Size €90m experience globally Shirin Dehghan • She is a passionate advisor and board member to Employees 11-25 Partner companies wishing to transform their business Active Markets International

Website frogcapital.com

INVESTOR PROFILE FROG CAPITAL @ NOAH

Doing Business @ NOAH Main Presentation Topics • Frog Capital is a leading growth capital investor focused on technology-led businesses in Europe Fireside chat with Present your business proposal through • Frog’s experienced team has invested in over 100 companies, and in the last NOAH Connect app five years has exited companies with a total transaction value over €1 billion • Frog is a committed long-term partner, investing in ambitious companies with revenue up to €30m and requiring up to €20m of growth capital • By applying industry knowledge, a network of relationships and operating expertise, Frog actively supports exceptional company growth and builds significant shareholder value Attendees @ NOAH Shirin Dehghan, Partner

54 INVESTORS Growth Equity Investor

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Joern Nikolay has served as head of GA’s Munich office since 2012 Headquarters New York, NY, US • He joined General Atlantic in its London office in 2008. He led the investment in NuCom Group (Joint Venture with ProSiebenSat.1), FlixMobility, Control Expert and Founded 1980 in KäuferPortal, co-led the investment in Axel Springer Digital Classifieds and helped to lead investments in IHS Markit and Citco Current Fund Size $3.3bn • He also supported General Atlantic's investment in Saxo Bank. Joern serves on the board of directors for Jörn Nikolay NUCOM Group (Joint Venture with ProSiebenSat.1), Employees 100-1,000 FlixMobility, Control€xpert and Hemnet Managing • He was previously, on the board of Axel Springer Active Markets Global Director Digital Classifieds and an observer on the board of Klarna Website generalatlantic.com

INVESTOR PROFILE GENERAL ATLANTIC @ NOAH

Doing Business @ NOAH Main Presentation Topics • General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies Fireside chat with Present your business proposal through • Established in 1980, General Atlantic combines a collaborative global approach, NOAH Connect app sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide • General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo and Singapore Attendees @ NOAH

Jörn Nikolay, Managing Director

55 INVESTORS Venture Capital Firm that Makes Early-Stage and Growth Equity Investments

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Adam Valkin is a Partner at General Catalyst where he focuses on consumer and SMB-oriented businesses with an emphasis on mobile-first applications Headquarters Cambridge, MA, US • He was involved in General Catalyst investments into Brainly, ClassPass, Deliveroo, Fundbox, Giphy, Vroom, Founded 2000 and more

• Before joining General Catalyst, Adam was at Accel $1.4bn (General Catalyst Current Fund Size Partners, where he was a Venture Partner in the firm’s Group IX) London office focusing on investments in Internet and mobile services. Prior to Accel, Adam was Global Head Adam Valkin of Digital Media & New Business at television Employees 10-100 production company Endemol General Partner • Adam was born and raised in Johannesburg, South Active Markets Global Africa and holds a degree in economics from Harvard University Website generalcatalyst.com

INVESTOR PROFILE GENERAL CATALYST @ NOAH

Doing Business @ NOAH Main Presentation Topics • General Catalyst is a venture capital firm that makes early-stage and transformational investments Fireside chat with Present your business proposal through • General Catalyst backs exceptional entrepreneurs who are building innovative NOAH Connect app technology companies and market leading businesses, including Airbnb, BigCommerce, ClassPass, Datalogix, Datto, Demandware, Gusto (fka ZenPayroll), The Honest Company, HubSpot, KAYAK, Oscar, Snap, Stripe, and Warby Parker • The General Catalyst team leverages its broad experience to help founders build extraordinary companies Attendees @ NOAH • General Catalyst has offices in Cambridge, MA, Palo Alto, CA and New York Adam Valkin, General Partner City

56 INVESTORS Private Equity Firm Focused on Integrated Sustainability Research and Client Alignment

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Former US Vice President Al Gore is the cofounder and chairman of Generation Investment Management, and the founder and chairman of The Climate Reality Headquarters London, UK Project, a nonprofit devoted to solving the climate crisis. He is also a senior partner at Kleiner Perkins Founded 2004 Caufield & Byers and a member of Apple Inc.’s board of directors

• Gore was elected to the U.S. House of Representatives AUM $18.5bn in 1976, 1978, 1980, and 1982 and to the U.S. Senate in 1984 and 1990. He was inaugurated as the 45th vice Al Gore president of the United States on January 20, 1993, Employees 100-1,000 and served eight years Former US Vice • .” In 2007, Gore was awarded the Nobel Peace Prize, President & along with the Intergovernmental Panel on Climate Active Markets Global Chairman Change, for “informing the world of the dangers posed by climate change.” Generation IM Website generationim.com

INVESTOR PROFILE GENERATION IM @ NOAH

Doing Business @ NOAH Main Presentation Topics • Since its founding in 2004, Generation has played an integral role in the development of sustainable investing and in demonstrating the long-term N/A Present your business proposal through commercial benefits of this approach NOAH Connect app • Our approach to active investment management is based on an investment process that fully integrates sustainability analysis into our decision-making and is focused on long-term performance • Our investment process underpins our differentiated thinking about the dynamics that drive and influence the performance of companies. We construct portfolios of sustainable companies with the confidence derived from our deep Attendees @ NOAH research and analysis Al Gore, Former US Vice President & • A sustainable company is one whose current earnings do not borrow from its Chairman Generation IM future earnings, one whose sustainability practices, products and services drive revenues, profitability and competitive positioning, and one that provides goods and services consistent with a low-carbon, prosperous, equitable, healthy and safe society

57 TRAVEL & TOURISM Booking Platform for Tours and Activities

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Johannes Reck co-founded GetYourGuide in 2009 and currently is the Chief Executive Officer of the Headquarters Berlin, Germany Unique Users 2.1m 2.5m company • Apart from GetYourGuide, Johannes serves as a Founded 2009 Visits 4.0m 4.3m Board Member for LocalUncle, a location-based Q&A Employees 100-1,000 Minutes 02:29 02:34 website Mobile: 50% Mobile: 57% • Johannes has worked for The Boston Consulting Active Markets Global Sessions Desktop: 50% Desktop: 43% Group as a Visiting Associate. Apr 2018 Direct: 17%, Search: 65%, Ownership Private – VCs • Johannes holds a Master’s Degree in Biochemistry Sources Referrals: 12%, Other: 6% from the Swiss Federal Institute of Technology Battery Ventures, KKR, Highland Johannes Reck Key Investors Capital Partners, Spark Capital, • Johannes led GetYourGuide to its first venture capital Sunstone Capital Co-Founder & round while still in the university CEO Funding $171m NOAH Content GetYourGuide at NOAH

Website getyourguide.com

COMPANY PROFILE GETYOURGUIDE @ NOAH

Doing Business @ NOAH Main Presentation Topics • GetYourGuide collects and categorizes all the world's things to do so people research less and do more. Electric bike tours around Paris, skip-the-line tickets N/A Present your business proposal through to the Vatican museums, cooking classes in Thailand, or double-decker bus NOAH Connect app tours of New York City, GetYourGuide covers every category of activity in nearly every corner of the globe • GetYourGuide's global network of activity suppliers upload products, receive, and manage their bookings and payments through a simple, centralized system. Travelers can then easily find and book all of these offers on GetYourGuide.com, choosing the one that best suits their travel dreams and Attendees @ NOAH their budget • GetYourGuide works with a network of over 1,000 partners, including Johannes Reck, Co-Founder & CEO TripAdvisor, Thomas Cook.de, Kayak, and Expedia, and holds offices in Berlin, Las Vegas, and Zurich

58 TRANSPORTATION & MOBILITY Shared and Private Airport Transfers

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Operating KPIs • Born in Ljubljana in 1980, entrepreneur Marko Guček graduated from the Faculty of Economics (University Headquarters Ljubljana, Slovenia Number of passengers 1.2m+ of Ljubljana) in 2005 and later enrolled in MIB School of Management in Trieste (Italy), where he joined the Countries 8 Founded 2011 international master’s program in Tourism & Leisure. With his master thesis, Six Sigma in hospitality Cities served 51 industry, he graduated with honours Employees 26-50 NPS 69 • As a student, he worked in a small travel agency and later became the Quality control manager at Hotel Active Markets International Service rating 4,61 Danieli in Venice. His more formative experience Marko Guček started when he became an Assistant to the CFO at Ownership Private – VCs Average take rate 21.5% the nautical company Seaway Group. From October CO2 savings 14,000t Co-Founder & 2006, he became the Managing Director and co- Key Investors EBRD, Point Nine, RTA CEO founder of many successful companies like Privata Transfers carried out so far 145k ltd., TM Travel ltf, TM Vista ltd., Socinet ltd Funding €6m Passengers every month 29k+

Website goopti.com Partner network 1,750+

COMPANY PROFILE GOOPTI @ NOAH

Doing Business @ NOAH Main Presentation Topics • GoOpti is an innovative European transportation platform, which provides shared and private airport transfers at affordable prices and connects 1. What is GoOpti and how it is disrupting Service Provider Interest passengers traveling from medium-size cities to large airports. Available via web the long distance transportation system Ecommerce Services or mobile app, GoOpti’s platform allows travelers to map out a route, book and 2. How to be profitable on routes where no pay for a trip. It functions as a transportation marketplace connecting Offline Services one else is profitable? GoOpti brings a passengers, shuttle companies and business stakeholders from the travel Communications solution to resolve the mobility problems industry and it is the only long distance airport provider that picks passengers up Marketing in rural to urban areas and within smaller from home at the time they want and pools people on same route, which makes Analytics urban areas (<1mio inhabitants) where it cheaper than the use of personal cars other transport providers don't make Digital Services • In a nutshell, the unique advantage of GoOpti is that it can provide a profit transportation solution that is profitable when other transportation fails (servicing less frequently traveled routes in rural and suburban areas), at a lower cost of Key Hires Interest Attendees @ NOAH public transport and with the same comfort and flexibility of a personal car Marketing specialists, IT and product developers Marko Guček, Co-Founder & CEO Tomaž Lorenzetti, Co-Founder & BDO

59 RESTAURANTS & FOOD DELIVERY Food Subscription Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Dominik has been CEO since starting HelloFresh in 2011 Headquarters Berlin, Germany Market Cap €1.8bn • He is responsible for keeping a general oversight of Founded 2011 the business and strategy Employees 3,500+ • Dominik’s an entrepreneur to the core and started his 2017 2018E Growth Active Markets Global first two businesses while still at university. Revenues €m 905 1,204 33% Ownership Public (ETR) • Dominik graduated from WHU with a degree in Rocket Internet, Insight, EBITDA €m (81) (52) (36%) International Business in 2009, and from the London Key Shareholders Phenomen, Vanguard, Vorwerk School of Economics in 2010 with a Masters in Company Margin % (9%) (4%) - Click here to download Dominik Richter Finance and has worked for Goldman Sachs before Presentation founding HelloFresh EV/Revenue 1.7x 1.3x (25%) NOAH Content HelloFresh at NOAH Co-Founder & Website hellofreshgroup.com CEO Key Operating KPIs US Active Customers Q4 2017 0.9m

US Average Order Value Q4 2017 €49.5

COMPANY PROFILE HELLOFRESH @ NOAH

Doing Business @ NOAH Main Presentation Topics • HelloFresh is the leading global provider of fresh food at home Fireside chat with • HelloFresh aims to provide each and every household in its 9 markets with the Present your business proposal through opportunity to enjoy wholesome home-cooked meals with no planning, no NOAH Connect app shopping and no hassle required • Everything required for weeknight meals, carefully planned, locally sourced and delivered to your door at the most convenient time for each subscriber • Behind the scenes, a huge data driven technology platform puts us in the prime position for disrupting the food supply chain and for fundamentally changing the way consumers shop for food Attendees @ NOAH • The soft subscription model business enables us to leverage our weekly Dominik Richter, Co-Founder & CEO subscriber touch points to consistently manage supply chains and demand, and to optimise the customer experience as well as our business economics • HelloFresh is at the forefront of disrupting a multi trillion dollar industry at the very beginning of its online transition

All financial actual data and estimates provided by CapitaIQ, as of 06/05/2018. 60 TRAVEL & TOURISM Meta-Search Engine for Vacation Rentals

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Patrick is the CEO & Co-Founder of HomeToGo, an Headquarters Berlin, Germany independent vacation rental metasearch engine Unique Users 0.9m 2.0m • Previously, he was a Director of Business Founded 2014 Development in Home24 Employees 100-1,000 Visits 1.4m 2.8m • He also worked for German Embassy in Dublin, Active Markets Global Hogan Lovells and Rocket Internet Ownership Private – VCs Minutes 04:55 03:47 Insight, Acton Capital Partners, • Patrick has a law background and holds PhD in Mobile: 51% Mobile: 57% Business Law from University of Muenster Key Investors DN Capital, Rocket Internet, Sessions Global Founders Capital Desktop: 49% Desktop: 43% Funding $27m Apr 2018 Direct: 10%, Search: 77%, Sources Referrals: 1%, Other: 12% Dr. Patrick Website hometogo.com Andrae Key Operating KPIs Co-Founder & Listings 11m+ CEO # of Rental Properties 250+ # of Countries 200+

COMPANY PROFILE HOMETOGO @ NOAH

Doing Business @ NOAH Main Presentation Topics • HomeToGo is the world's largest search engine for vacation rentals. We have compiled a unique portfolio of the best and most renowned providers of vacation N/A Present your business proposal through rentals for our customers. Whether for family vacations, day trips or a romantic NOAH Connect app getaway, HomeToGo finds your perfect vacation accommodation for every occasion • HomeToGo offers the best vacation accommodations all on one website, allowing you to compare prices for rentals from more than 250 providers in over 200 countries, or around you. Once you've found your dream rental, simply click on the link to be redirected to our partner's website and complete the booking Attendees @ NOAH • Business model: Search Aggregation Dr. Patrick Andrae, Co-Founder & CEO

61 B2B & SOFTWARE Converts Emails into a Multimedia Mobile Messaging Format

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Dvir is the Co-Founder & CEO of Hop • Ben-Aroya brings over 15 years of experience in Headquarters Palo Alto, CA, US Unique Users <5k <5k senior business leadership positions in high-tech and financial companies. Prior to founding Hop, he was a Founded 2013 Visits 8k 9k Vice President of Global Business Development in Acronis. Prior to joining Acronis, he served as Employees 1-10 Minutes 01:26 00:55 Executive Vice President of Global Partnerships at WebsPlanet, where he was responsible for the Mobile: 5% Mobile: 33% Active Markets Global Sessions company’s expansion to the hosting, Desktop: 95% Desktop: 67% telecommunications and cloud industries. His previous Apr 2018 Direct: 43%, Search: 34%, Ownership Private – VCs Dvir Ben-Aroya positions also include CEO of a leading SaaS sport Sources Referrals: 11%, Other: 12% scouting platform and an investment banker for Co-Founder & various international deals. Key Investors Cubit Investments, NFX CEO • Ben-Aroya has an M.B.A. in Business Management from the Manchester Business School and a B.A. in Funding $2m Business and Economics from the IDC Interdisciplinary College School of Business in Website gethop.com Herzliya, Israel

COMPANY PROFILE HOP @ NOAH

Doing Business @ NOAH Main Presentation Topics • Hop is the first ever app to turn your existing email into simple, multimedia mobile messaging, focused on the people and groups that matter most to you N/A Present your business proposal through • Hop turns your email messages into a natural chat conversation with the people NOAH Connect app you know. Use it to connect in real time with friends, family and colleagues to share life’s most important moments as they happen -- through video, photos, documents, live chat, and voice calls -- using something everybody has: an email address. Hop is fully synced with desktop emails so conversations, documents and media are always stored on your cloud service • Hop supports real-time messaging, document and photo sharing, voice and Attendees @ NOAH video calls, and more, eliminating the need to use multiple apps to stay in touch. Hop syncs with desktop emails so conversations, documents and media are Dvir Ben-Aroya, Co-Founder & CEO stored right in your cloud

62 INVESTORS Early Stage VC Investor

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Rainer has been a member of the Holtzbrinck Ventures team since 2008. He was responsible for Holtzbrinck Headquarters Munich, Germany Ventures’ investments in Zalando, Quandoo, Stylight, HelloFresh and brands4friends and led investments in Scalable Capital, Outfittery, Move24, Home24, and Founded 2000 several others • Before coming to Holtzbrinck Ventures, Rainer played Current Fund Size €306m an entrepreneurial role as Head of Business Development at 123people.com. The business was sold successfully to Pages Jaunes in 2010. Prior to Employees 11-25 Rainer Maerkle that, Rainer worked for five years in the venture capital field at 3i and Siemens Acceleration, where he was Active Markets Global General Partner involved in investments in the e-commerce sector. Rainer started his career at Siemens in 2000 NOAH Content Holtzbrinck Ventures at NOAH • Rainer studied Electrical Engineering at the Technical University of Munich and received his MBA at INSEAD, graduating both with honors Website hvventures.com

INVESTOR PROFILE HOLTZBRINCK VENTURES @ NOAH

Doing Business @ NOAH Main Presentation Topics • HV Holtzbrinck Ventures was founded in 2000 as the corporate venture arm of the Georg von Holtzbrinck publishing group. In 2010 we became an Fireside chat with Present your business proposal through independent venture firm, raising funds from a strong network of international NOAH Connect app institutional investors Attendees @ NOAH • Today, with more than € 1 billion under management, we are one of the largest and most experienced independent European early stage venture funds. For Rainer Maerkle, General Partner over 17 years we have believed in the disruptive potential of the Internet. During Martin Weber, General Partner this time, we have invested in over 150 companies, including great successes like Zalando, Delivery Hero, HelloFresh, Flixbus, SumUp, Scalable Capital, and Christian Saller, General Partner many others David Kuczek, General Partner • As reliable long-term partners, we support the founders of our portfolio Christoph Jung, General Partner companies in developing their businesses into large and sustainable Barbod Namini, Partner companies. Besides our investment, we bring a wealth of entrepreneurial, Jan Miczaika, Partner operational and financing experience to the table. This approach has made us Jasper Masemann, Principal one of the most successful European venture investors Felix Kluehr, Investment Manager

63 DIGITAL & TMT Online News Aggregator and Blog

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Jared is the CEO of HuffPost and the Global Head of News & Information at Oath. He leads Oath’s news Headquarters New York, NY, US Unique Users 80.0m 57.7m and information businesses • Prior to Oath, Jared oversaw all of AOL’s media Visits 206.0m 137.6m brands, including, the Huffington Post, TechCrunch, Founded 2005 Engadget, Ryot, Autoblog, Moviefone, and Build • He is an adjunct professor at Columbia Business Employees 100-1,000 Minutes 01:51 01:56 School specializing in the technology and media Mobile: 37% Mobile: 36% sectors, serves on the board of Newsela and as a Active Markets Global Sessions mentor at Techstars. He is an angel investor in several Desktop: 63% Desktop: 64% Jared Grusd start-ups Apr 2018 Direct: 44%, Search: 41%, Ownership Oath CEO • Previously, he was General Counsel and Head of Sources Referrals: 3%, Other: 12% Corporate Development of Spotify, Chief Strategy and Business Development officer of AOL, and a key Key Investors Oath member of the executive team of Google's multi-billion dollar advertising business in the Americas. Jared also co-founded Shake, a legal technology company Website huffingtonpost.com

COMPANY PROFILE HUFFPOST @ NOAH

Doing Business @ NOAH Main Presentation Topics • HuffPost has over 90 sections globally, covering politics, business, entertainment, environment, technology, media, lifestyle, culture, comedy, N/A Present your business proposal through healthy living, women's interest, local news and so much more. NOAH Connect app • We've won a Pulitzer. We have the best technology team in the business. HuffPost has over 100,000 bloggers and nearly 200 million monthly unique visitors (comScore). • We are passionate. We are entrepreneurial. We are life learners who want to make a difference. We love working here because HuffPost provides an environment where we are empowered to take big risks, and because we are Attendees @ NOAH encouraged to care about what really matters Jared Grusd, CEO

64 FINTECH Internet-based Financial Service Provider

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Ronald Slabke studied business administration in Dresden and began his professional career as an Headquarters Berlin, Germany Market Cap €899m account manager at Westdeutsche ImmobilienBank • In mid-1996, he joined Dr. Klein, a mortgage broker 2017 2018E Growth specializing in the housing industry, as assistant to the Founded 2001 managing director. In early 1999, Dr. Klein became Revenues €m 195 225 16% the first online mortgage broker for private customers Employees 3,400 under his responsibility. At the end of 1999, he organized a management buyout and took over from EBITDA €m 32 36 15% Dr. Klein. 2001 saw the merger with Europace to form Active Markets International Ronald Slabke the Hypoport Group. As Co-CEO of Hypoport, he was Margin % 16% 16% - subsequently responsible for sales and technical Ownership Public (ETR) CEO development of Europace and private customer EV/Revenue 4.6x 4.0x (14%) business. In 2007 Hypoport is admitted to the Prime Company Standard of Deutsche Börse AG. Since 2010, as CEO, Click here to download Presentation EV/EBITDA 28.5x 24.8x (13%) he has been shaping the strategic expansion of the Group in the banking industry and the development of Website hypoport.de corporate culture within the Hypoport Group

COMPANY PROFILE HYPOPORT @ NOAH

Doing Business @ NOAH Main Presentation Topics • Hypoport AG is the parent company of the Hypoport Group. The subsidiaries of the Hypoport Group are engaged in the distribution of financial services, 1. Hypoport’s way of growth – German Present your business proposal through facilitated or supported by financial technology (‚fintech‘). The subsidiaries are Mittelstand meets Tech – different NOAH Connect app divided into four business units: Credit Platform, Private Clients, Institutional perspective on risk Clients and Insurance Platform 2. Runing a group of autonomous daughter • Within the Hypoport Group, Hypoport AG performs the role of a strategic and companies in a build, expand and management holding company with corresponding central functions. Hypoport leverage approach AG’s objectives are the advancement and expansion of its family of 3. Lessons learned from scaling a company subsidiaries. The shares of Hypoport AG are listed in the Prime Standard above 500 people segment of the Frankfurt Stock Exchange (Deutsche Börse) and have been included in the SDAX since 2015 Attendees @ NOAH

Ronald Slabke, CEO

All financial actual data and estimates provided by CapitaIQ, as of 23/04/2018. 65 FINTECH Global Financial Banking Institution

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Benoit Legrand is Chief Innovation Officer of ING since January 2018 Headquarters Amsterdam, Netherlands Market Cap €54.1bn

• Benoît is an intrapreneur with more than 20 years Founded 1991 experience in transforming various areas of banking in 5 different countries (Belgium, France, The Employees 52,000+ 2017 2018E Growth Netherlands, Poland and Singapore) Active Markets Global Revenues €m 17,706 18,025 2% • He began his career as an investment banker at Bank Bruxelles Lambert, before it became ING Belgium. He Ownership Public (AMS) Net Income €m 4,905 5,030 3% rejoined ING a few years later, after founding his own Key Shareholders BlackRock, Artisan Investments Margin % 28% 28% - start-up company in retail distribution. Investor Benoît Legrand Click here to download • In 2010, he was appointed CEO of ING Direct France, Presentation Chief Innovation the leading direct bank on the French market, and Country CEO ING Bank France in 2013 Website ing.com Officer • Benoît graduated in Economics from Catholic Key Operating KPIs University of Leuven and in International Relations Retail customers 2017 37.4m from the London School of Economics Underlying ROE 10.2%

COMPANY PROFILE ING GROUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail Fireside chat with Present your business proposal through banking, direct banking, commercial banking, investment banking, asset NOAH Connect app management, and insurance services. ING is an abbreviation for Internationale Nederlanden Groep • ING is the Dutch member of the Inter-Alpha Group of Banks, a cooperative consortium of 11 prominent European banks. ING Bank was included in a list of global systemically important banks in 2012 Attendees @ NOAH

Benoît Legrand, Chief Innovation Officer

All financial actual data and estimates provided by CapitaIQ, as of 06/05/2018. 66 INVESTORS VC Firm Specializing in Growth-Stage Software and Internet Investing

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Harley Miller joined Insight in 2011. He previously worked as an analyst at Lubert Adler Real Estate Headquarters New York, NY, US Funds in Philadelphia, focusing on acquisitions and asset management Founded 1995 • Harley graduated magna cum laude from the University of Pennsylvania’s Wharton School of Business with a BS in Economics, with concentrations Funds Raised $18bn+ in both ‘International Venture Capital & Consumer- Facing Industries’ and ‘Information Management’ Employees 130 • During his time at Wharton, Harley launched his first Harley Miller startup, MobileEatz – a mobile food ordering portal targeted at college campuses Active Markets Global Vice President • Harley is fluent in both Spanish and Portuguese Insight Venture Partners at NOAH Content NOAH

Website insightpartners.com

INVESTOR PROFILE INSIGHT VENTURE PARTNERS @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in 1995, Insight Venture Partners is the fastest-growing venture capital firm specializing in growth-stage Software and Internet investing globally Fireside chats with and Present your business proposal through • Insight's team of growth experts is composed of both technology investors and NOAH Connect app operating executives with significant experience scaling technology companies • Since inception, Insight has raised more than $13 billion to invest in market leading companies through both minority and majority deals • Insight's investing flexibility enables companies and entrepreneurs to obtain the deal that makes sense for them, in addition to gaining access to growth expertise and global reach Attendees @ NOAH Harley Miller, Vice President

67 OTHER Independent Think-Tank Based in Berlin

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Clark was Editor-in-chief of a city magazine and a consultant for Internet companies like CitySearch. Awarded a Robert Bosch Fellowship in 1997, he Headquarters Berlin, Germany moved to Germany. As the first Media Project Manager for the Industrial Investment Council of the New German States, he advised US / UK Internet & Founded 2016 media companies such as eBay, IBM and FoxKIDS.

• In 2005, Clark and a co-founder launched Vortel Employees 4-10 GmbH, a VoIP telephony company that sold in 2008 to Inter.net. He then led a global leadership school for Clark Parsons the creative industries, the Berlin School of Creative Active Markets Global Leadership Managing • Clark joined the IE.F at its inception in January 2016. Director He leads the foundation to help advocate for a thriving NOAH Content IE.F at NOAH Internet economy in Europe based on free and fair competition. He is also a partner in iconomy GmbH, a consultancy focused on helping digital ventures grow, Website ie.foundation/en scale and internationalize

COMPANY PROFILE INTERNET ECONOMY FOUNDATION @ NOAH

Doing Business @ NOAH Main Presentation Topics • The Internet Economy Foundation (IE.F) is an independent organization in Berlin that advocates for a thriving digital economy in Germany and Europe 1. The Finance Gap - how Europe can Present your business proposal through develop a VC market to catch up with • It was established as an inquisitive think tank, an independent advisor and a NOAH Connect app the US and Asia. Briefly presenting competent dialogue partner in the dynamic environment of digitisation and highlights of the findings of a new study digital transformation by the IE.F and Roland Berger • It aims to be an impartial organisation and a pioneering voice for politics, the 2. Briefly presenting highlights of the economy and society findings of a new study by the IE.F and • It provides information about the latest developments and defines the interests Roland Berger of the German and European Internet economy in a global context 3. Discussing, with Klaus Hommels and Marco R., changes that can lead to more private capital being mobilized and invested in Europe's digital ecosystem

Attendees @ NOAH

Clark Parsons, Managing Director

68 B2B & SOFTWARE One of the Largest Online Recruitment Companies in Turkey

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Fatih Uysal studied at Galatasaray High School before completing his degree on Business Administration at Headquarters Istanbul, Turkey Unique Users 5.3m 4.7m Bogazici University

• He began his career at Danone in 1999. After taking Founded 1999 Visits 16.1m 13.8m on the responsibility of several Danone products he was appointed as the Global Marketing Director of Employees 100-1,000 Minutes 06:29 06:28 Danone Group in 2006. While at the position, he helped over 40 countries create and execute their Mobile: 46% Mobile: 47% Active Markets National Sessions marketing strategies. He moved to the Netherlands to Desktop: 54% Desktop: 53% serve as the Global CRM of the Danone Group for the Apr 2018 Direct: 49%, Search: 40%, Ownership Private – VCs Fatih Uysal Middle East, Europe and Latin America Sources Referrals: 1%, Other: 10% • In 2010 he returned to Turkey to serve as the CEO Marketing Director for Vodafone, helping launch Key Investors iLab Ventures several projects • Since February 2017, Uysal serves as the CEO for NOAH Content Kariyer at NOAH Kariyer.net, the biggest online HR platform Website kariyer.net

COMPANY PROFILE KARIYER.NET @ NOAH

Doing Business @ NOAH Main Presentation Topics • Kariyer.net is the first and largest online recruitment companies in Turkey. Established in 1999, it marked the emergence of online recruitment practice in N/A Present your business proposal through the country. By leveraging new technologies, Kariyer.net has been a market NOAH Connect app leader in the recruitment sector • In 2005, Kariyer.net joined The Network, a global leader in international recruitment. This allowed Kariyer.net’s corporate clients to search through candidates in other member sites’ databases while providing its own database for employers from member countries. Kariyer.net has the biggest resume database in The Network’s system Attendees @ NOAH

Fatih Uysal, CEO

69 TRAVEL & TOURISM Online Travel Agency with a Unique Flight Search Algorithm

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Oliver Dlouhy is the co-founder and CEO of Kiwi.com (formerly known as Skypicker), a booking app that Headquarters Brno, Czech Republic Unique Users 1.7m 2.8m helps users find and book low-cost flights around the world Founded 2012 Visits 3.8m 5.7m • Oliver founded Kiwi.com in 2012 when he, as a broke student, was trying to find the cheapest flights for a Employees Over 1,300 Minutes 11:47 07:22 vacation in Portugal. That was when he got the idea of Mobile: 36% Mobile: 40% Active Markets Global Sessions combining the flights of airlines that don’t cooperate Desktop: 64% Desktop: 60% with each other into one itinerary Apr 2018 Direct: 50%, Search: 8%, Ownership Private – Business Angels • His company has turned into one of the most Sources Referrals: 33%, Other: 9% Oliver Dlouhy successful and fastest-growing startups in Central Key Investors Jiri Hlavenka Europe Co-Founder & Funding €1.5m CEO NOAH Content Kiwi.com at NOAH

Website kiwi.com

COMPANY PROFILE KIWI.COM @ NOAH

Doing Business @ NOAH Main Presentation Topics • Kiwi.com, formerly known as Skypicker, is an online travel agency with groundbreaking Virtual Interlining Technology and a focus on exceptional N/A Present your business proposal through customer service NOAH Connect app • Our unique flight search algorithm allows our customers to combine flights from airlines which do not normally collaborate onto a single itinerary, often resulting in significant savings • Kiwi.com was established in April 2012, funded by the angel investment of Jiri Hlavenka, a well-known Czech entrepreneur. The first public beta was launched in May 2012 and it was very well received by both users and journalists Attendees @ NOAH • In December 2013, Kiwi.com acquired WhichAirline.com Oliver Dlouhy, Co-Founder & CEO

70 PAYMENTS Ecommerce Payment Solutions for Merchants and Shoppers

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Sebastian Siemiatkowski is co-founder and CEO of Klarna, one of Europe’s main providers of payment Headquarters Stockholm, Sweden Unique Users 4.5m 5.1m solutions for e-commerce. Sebastian and his two co- founders developed the idea for Klarna during a Founded 2005 Visits 8.6m 10.1m competition at the Stockholm School of Economics Employees Over 1,000 Minutes 02:49 02:58 • He graduated from the Stockholm School of Economics with a master's degree in economics and Mobile: 67% Mobile: 67% Active Markets Global Sessions while at school founded the company with his co- Desktop: 33% Desktop: 33% Apr 2018 Direct: 42%, Search: 17%, founders Ownership Private – VCs Sources Referrals: 23%, Other: 18% • Sebastian has received multiple awards for his Permira, VISA, Anders Holch Sebastian leadership including the "Rising Star of the Year" by Key Investors Povlsen, Creandum, General Siemiatkowski Ernst & Young, "Leader of the Year" by Adecco, Atlantic, Northzone "Manager of Tomorrow" by Sweden's leading Co-Founder & Management Magazine and "European Entrepreneur Funding $637m of the Year Award" by TechTour CEO NOAH Content Klarna at NOAH

Website klarna.com

COMPANY PROFILE KLARNA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Klarna is a leading payments provider that aims to make the payment process simple, smooth and safe for customers and its merchant partners Fireside chat with Present your business proposal through • The company, founded in 2005, was recently named as one of the top disruptor NOAH Connect app companies in the world by CNBC • Klarna works together with 89,000 merchants to offer payment solutions to more than 60 million users in Europe and North America • The company’s North America offices are in Columbus, Ohio and New York. • Klarna has 1,700 employees and is active in 14 countries. Financing through Attendees @ NOAH Klarna is issued by WebBank, member FDIC Sebastian Siemiatkowski, Co-Founder & CEO

71 LENDING PLATFORMS Credit Solutions for Underbanked Customers

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Financials • Alexander Graubner-Mueller is founder and CEO of Kreditech. Having led the tech-side as CTO for three Headquarters Hamburg, Germany Revenues 2017E €51-100m years, he took over the CEO position in November 2015. Alexander achieved the Master of Quantitative Founded 2012 Finance and Economics of University St. Gallen Employees 100-1,000 • Prior to founding Kreditech, Alexander co-founded and sold the prediction-market engine PredictX. Before this Active Markets Global he managed engineering and product development at Rocket Internet in Asia. Prior to that he worked as a Ownership Private – VCs financial engineer with the research team at LGT PayU, Rakuten, IFC, J.C. Capital Management Flowers & Co., Kreos Capital, Alexander Key Investors • He is a Big Data Pioneer and visionary for Digital Global Founders Capital, Graubner-Müller Blumberg Capital Banking. He believes in algorithms and statistical data Founder & CEO as the key building blocks for the next Industrial Funding €204 (equity), €286 (debt) Revolution NOAH Content Kreditech at NOAH

Website kreditech.com

COMPANY PROFILE KREDITECH @ NOAH

Doing Business @ NOAH Main Presentation Topics • Kreditech Group’s mission is to improve financial freedom for the underbanked with the use of technology. Combining non-traditional data sources and 1. Why fintech is the future in emerging Present your business proposal through machine learning, the company is aiming to provide access to better credit and markets NOAH Connect app a higher convenience for digital banking services. The product offerings include 2. Strategy for the latest launch in India consumer loans, a digital wallet and a personal finance manager designed to 3. Algo-based credit scoring help customers manage their credit score and plan their spending. Kreditech also offers a “Lending as a Service” model, allowing partners to integrate Kreditech’s credit products via an API into their own platform and services • Founded in 2012 and headquartered in Hamburg, Germany, Kreditech covers Attendees @ NOAH more than 5 markets worldwide, amongst others Russia, Mexico, Spain and Poland. Up until now, the company has processed more than four million loan Alexander Graubner-Müller, Founder applications through its subsidiaries & CEO • Kreditech’s team of more than 387 people is led by CEO and Co-Founder Alexander Graubner-Müller and is financially backed by world-class investors including PayU, J.C. Flowers, Peter Thiel, and the World Bank’s IFC

72 ONLINE FASHION Poland’s Leading Fashion Label

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Joanna Przetakiewicz is a Polish fashion designer and entrepreneur, founder & creative director of La Mania Headquarters Warsaw, Poland Unique Users 14k 11k brand, born in Warsaw, currently living in London. Legal counsel by profession. She studied Law at Founded 2010 Visits 30k 29k Warsaw University Employees 26-50 Minutes 02:50 04:06 • In 1992 she founded one of the first networks of dental Mobile: 56% Mobile: 70% Active Markets International Sessions clinics – Vita Dent Desktop: 44% Desktop: 30% Apr 2018 Direct: 22%, Search: 64%, • With the strong support of her close friend, Karl Ownership Private – Business Angels Lagerfeld, she turned her first love - fashion - into a Sources Referrals: 1%, Other: 13% business and so, at the end of 2010, the stylish prêt-a- Website lamania.eu Joanna porter womenswear label was founded. With the collection stocked at Harrods International Designer Przetakiewicz Key Operating KPIs Floor and in Dubai, La Mania has definitely announced Founder & her arrival on the world stage Delivery In Full On Time 96%

Creative Director • Joanna actively supports various campaigns in the % Unplanned Overtime 4% worlds of fashion and art. She regularly sponsors young artists’ exhibitions, as well as various cultural % Lost Sales to Active Customers 24% events both in the UK and in Poland

COMPANY PROFILE LA MANIA @ NOAH

Doing Business @ NOAH Main Presentation Topics • La Mania, founded in September 2010 is currently Poland’s leading fashion label and offers a stylish minimalist European design Fireside chat with Marco Rodzynek Service Provider Interest • With Karl Lagerfeld as its business angel, and as his protégé, La Mania has undergone a rapid evolution becoming the market leader in Poland, winning the Ecommerce Services - Channel international market as quickly as the Polish one. Currently the brand owns 4 Management retails boutiques and its collections are available in Harrods International Designer Floor • In February 2015, the brand was invited by the British Council and the British Fashion Council to join the International Fashion Showcase at London Fashion Attendees @ NOAH Week, where the brand also held a spectacular showcase of the debut collection at the Royal Academy. La Mania has quickly become one of the brightest names in international luxury fashion Joanna Przetakiewicz, Founder • Since then the brand has expanded its portfolio of products to perfumes, Aleksander Przetakiewicz, CEO accessories and shoes. La Mania is preparing to launch its own La Mania home line with bed sheets, towels, china and candles with a dedicated, separate e- commerce that would cater the affordable luxury, more mass appeal product

73 INVESTORS Premium Partner Global Venture Capital Firm

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Invested Companies • Klaus Hommels is the founder of Lakestar, a Zurich- based firm with offices in Berlin, London, New York Headquarters Zurich, Switzerland and Hong Kong • Hommels was an early investor in King. com, Skype Founded 2012 and Spotify, and also invested in Facebook as an angel investor Funds Raised $534m • He's also an investor in Harry's, OpenDoor and Oscar Health in the U.S. Current Fund Size $385m • Hommels earned his MBA and PhD in finance from Klaus Hommels the University of Fribourg in Switzerland Employees 11-25 • "The first thing a VC should have to be is a believer," Founder & CEO he says Active Markets Global

NOAH Content Lakestar at NOAH

Website lakestar.com

INVESTOR PROFILE LAKESTAR @ NOAH

Doing Business @ NOAH Main Presentation Topics • Lakestar is a global venture capital company, with offices in Zurich, Berlin, and London Panel discussion with Marco Rodzynek Present your business proposal through • Company identified highly disruptive technology companies across all stages of NOAH Connect app their lifestyle – seed to growth – and across consumer and B2B business models. Most importantly, Lakestar has been a preferred partner for US entrepreneurs considering international expansion, as well as European entrepreneurs wanting to go global • Lakestar & its GPs have historically invested in Skype, Facebook, Klarna, Airbnb, King.com, Maker Studios, Lovefilm. Current portfolio includes: Spotify, Attendees @ NOAH Harry’s, GoEuro, Algomi, Taulia, Oscar, Opendoor Klaus Hommels, General Partner

74 CONSUMER GOODS, RETAIL & ECOMMERCE AI-powered Mobile Peer-to-Peer Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Operating KPIs • Yuriy Mukhin is a co-founder of Lalafo • Before founding Lalafo he was a co-founder of Headquarters Tallinn, Estonia App Downloads 5m iBride.com, a social platform for brides-to-be and wedding professionals aiming to consolidate a Founded 2015 fragmented global wedding industry Traffic Apr-17 Apr-18 • Prior to that he held a CMO position at Slando (now Employees 51-100 Unique Users 17k 14k OLX), a general classifieds platform owned by Naspers Active Markets International Visits 41k 31k • Yuriy graduated for Donetsk National University in Yuriy Mukhin Ukraine Ownership Private – VCs Minutes 00:21 01:15 Mobile: 70% Mobile: 41% Funding Undisclosed Sessions Co-Founder Desktop: 30% Desktop: 59% Apr 2018 Direct: 8%, Search: 44%, NOAH Content Lalafo at NOAH Sources Referrals: 47%, Other: 1%

Website lalafo.com

COMPANY PROFILE LALAFO @ NOAH

Doing Business @ NOAH Main Presentation Topics • Lalafo is an artificial intelligence powered C2C marketplace. Lalafo uses computer vision and natural language processing to create a frictionless selling 1. Technology and product demonstration: Present your business proposal through experience real time object classification, price NOAH Connect app prediction, visual search, listing creation • When a new item is listed, its characteristics are instantly extracted. Lalafo AI using AI detects products, colours, materials, makes, models, year of manufacturing and many more characteristics of each item 2. What this technology means for classifieds and marketplaces • Features extracted from images can be used to suggest price and match items 3. How AI helps expand consumer to to buyers with incredible accuracy consumer market

Attendees @ NOAH

Anna Polishchuk, Co-Founder

Yuriy Mukhin, Co-Founder

75 CONSUMER GOODS, RETAIL & ECOMMERCE AI-powered Mobile Peer-to-Peer Marketplace

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Operating KPIs • Co-Founder at Lalafo – a C2C marketplace powered by AI. In 2016 Lalafo’s users listed items worth over Headquarters Tallinn, Estonia App Downloads 5m $10B

• Prior to Lalafo, Anna served as a Commercial Founded 2015 Development Manager and, later, as a Chief Traffic Apr-17 Apr-18 Operating Officer at general classified Slando, Employees 51-100 Unique Users 17k 14k acquired by Naspers

• Anna holds an MBA in International Management from Active Markets International Visits 41k 31k Royal Holloway, University of London Ganna Ownership Private – VCs Minutes 00:21 01:15 Polishchuk Mobile: 70% Mobile: 41% Funding Undisclosed Sessions Desktop: 30% Desktop: 59% Co-Founder Apr 2018 Direct: 8%, Search: 44%, NOAH Content Lalafo at NOAH Sources Referrals: 47%, Other: 1%

Website lalafo.com

COMPANY PROFILE LALAFO @ NOAH

Doing Business @ NOAH Main Presentation Topics • Lalafo is an artificial intelligence powered C2C marketplace. Lalafo uses computer vision and natural language processing to create a frictionless selling 1. Technology and product demonstration: Present your business proposal through experience real time object classification, price NOAH Connect app prediction, visual search, listing creation • When a new item is listed, its characteristics are instantly extracted. Lalafo AI using AI detects products, colours, materials, makes, models, year of manufacturing and many more characteristics of each item 2. What this technology means for classifieds and marketplaces • Features extracted from images can be used to suggest price and match items 3. How AI helps expand consumer to to buyers with incredible accuracy consumer market

Attendees @ NOAH

Anna Polishchuk, Co-Founder

Yuriy Mukhin, Co-Founder

76 DIGITAL & TMT Online Legal Document Services and Legal Plans

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • John Suh has served as LegalZoom’s Chief Executive Officer since February 2007 and as a member of Headquarters Glendale, CA, US Unique Users 3.4m 3.3m board of directors since February 2005 • Prior to LegalZoom, Mr. Suh was Chief Executive Founded 1999 Visits 5.1m 4.9m Officer of StudioDirect, the Internet division of a global supply chain company, Li and Fung Employees 100-1,000 Minutes 02:32 02:30 • Prior to StudioDirect, Mr. Suh co-founded and served Mobile: 51% Mobile: 47% as Chief Executive Officer of Castling Group, helping Active Markets Global Sessions offline companies create their Internet divisions and Desktop: 49% Desktop: 53% Apr 2018 Direct: 21%, Search: 67%, launching category leaders such as jcrew.com and Ownership Private – VCs John Suh hifi.com Sources Referrals: 1%, Other: 12% CEO • Mr. Suh was selected to serve on the board of Key Investors Permira, KPCB, IVP directors due to the perspective and experience he brings as Chief Executive Officer and his extensive Funding $111m background in the Internet industry

Website legalzoom.com

COMPANY PROFILE LEGALZOOM @ NOAH

Doing Business @ NOAH Main Presentation Topics • LegalZoom is the US’ most recognized name in law, the alternative to the traditional law firm Fireside chat with Present your business proposal through • The leading provider of online legal document services and legal plans to NOAH Connect app families and small businesses, LegalZoom offers high quality, affordable legal services, marrying cutting-edge technology with access to experienced attorneys • LegalZoom was founded on the idea that all Americans deserve access to the law; and as of 2011 the company has helped close to two million small businesses and families with their legal needs Attendees @ NOAH • Our high quality documents have been accepted in all 50 states, and 94% of John Suh, CEO customers would refer LegalZoom to their family and friends

77 RESTAURANTS & FOOD DELIVERY Recipe Box Delivery Service

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Fabian Siegel is a passionate entrepreneur • Prior to launching Marley Spoon in 2014, built a global Headquarters Berlin, Germany Unique Users 80k 93k leader in online food ordering at Delivery Hero, co- Founded 2014 Visits 170k 193k founded Europe's largest online payments brand ClickandBuy International, Germany's first online Employees 100-1,000 Minutes 01:44 03:35 auction business Kikin, and a financial services startup Mobile: 43% Mobile: 54% Strateer Active Markets Global Sessions Desktop: 57% Desktop: 46% • He is now investing in startups and building Marley Apr 2018 Direct: 50%, Search: 25%, Ownership Private - VCs Spoon, a global company available in six countries Sources Referrals: 7%, Other: 18% worldwide QD Ventures, Kreos Capital, Fabian Siegel Key Investors Lakestar Co-Founder & Funding $27m CEO NOAH Content Marley Spoon at NOAH

Website marleyspoon.com

COMPANY PROFILE MARLEY SPOON @ NOAH

Doing Business @ NOAH Main Presentation Topics • Marley Spoon is a recipe box delivery service that provides delicious recipes with seasonal ingredients, in exact quantities, to cook at home N/A Present your business proposal through • Marley Spoon is disrupting the grocery industry and helping millions of people to NOAH Connect app cook better and live smarter by radically reducing food waste • Founded in 2014 by Fabian Siegel and Till Neatby, Marley Spoon is available in Germany, the Netherlands, Austria, Belgium, the US and Australia • Customers can select the recipes they’d like to receive from weekly changing menus and Marley Spoon delivers the recipes with high quality ingredients from trusted producers and suppliers Attendees @ NOAH • Marley Spoon operates more efficiently than any supermarket, with a Fabian Siegel, Co-Founder & CEO constrained supply chain, zero food waste, and centralised facilities servicing each country

78 PAYMENTS Global Payment Processing Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Peter is Mastercard’s Division President for Germany and Switzerland since July 2017. Previously he led the Headquarters Purchase, NY, US Market Cap €165.6bn Core Product team in Europe and was responsible for all product related activities within the region. Before Founded 1966 that he was SVP for Business Development in 2017 2018E Growth Western Europe Employees 13,000+ Revenues €m 10,432 12,596 21% • Prior Peter was part of Mastercard Advisors for eight years and member of the management team for Europe, AP and MEA Active Markets Global EBITDA €m 6,066 7,440 23% • Before joining Mastercard in 2006, Peter was a project Ownership Public (NYSE) Margin % 58% 59% - Peter Bakenecker manager at the Financial Service practice of Batten & Company and Roland Berger Strategy Consultants Company Division President Click here to download EV/Revenue 15.7x 13.0x (17%) • He holds an MBA in Banking & Finance. Peter studied Presentation Germany and at the University of Duisburg-Essen and the University Switzerland of Technology in Sydney. Furthermore, he completed NOAH Content Mastercard at NOAH EV/EBITDA 27.1x 22.1x (18%) executive programs at the London School of Economics and Political Science Website mastercard.de

COMPANY PROFILE MASTERCARD @ NOAH

Doing Business @ NOAH Main Presentation Topics • Mastercard provides payment processing products and solutions, and related consulting services. It serves consumers and businesses in the United States 1. Digital payment trends Service Providers Interest and internationally 2. The smartphonisation of society Ecommerce Services (Mobile Commerce • The company offers credit, debit, prepaid, personal, commercial, chip, and Solutions) 3. Wearables, biometrics and bots - how contactless cards; loyalty and reward solutions; and cardholder benefits and consumers will increasingly pay in the Digital Services services future

• It also provides payment processing solutions; and payment security and fraud Attendees @ NOAH management solutions to monitor, detect, and fight fraud through the transaction lifecycle. In addition, it offers payment-focused consulting, Peter Bakenecker, Division President information, and outsourcing services to financial institutions and merchants; Anja Klein, Communications DE & CH and franchising activities Dorothea Ysenburg, Managing Consultant Jürgen Schübel, VP European Mkt Dev. Dagmara Kowatzky, VP Business Dev. Adam Bednarek, Manager Business Dev.

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 79 SERVICE PROVIDERS Global Management Consulting Firm

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Matthias Schmidt-Pfitzner is a Partner at McKinsey Digital with over 22 years' experience in digital Headquarters New York, NY, US businesses • He is an expert in strategy, business & corporate development, business modelling, sales, digital Founded 1926 marketing and new business building • Matthias has built, transformed and sold companies of Employees 14,000 various sizes and has extensive management and leadership experience in national and multinational Active Markets Global companies from start-up to DAX and NASDAQ Matthias companies Schmidt-Pfitzner Ownership Private Digital Partner NOAH Content McKinsey at NOAH

Website mckinsey.com

COMPANY PROFILE DIGITAL MCKINSEY @ NOAH

Doing Business @ NOAH Main Presentation Topics • Digital McKinsey brings together the best of McKinsey’s digital capabilities 1. How do corporates successfully • Digital McKinsey not only advises but also builds, operates, and transfers Present your business proposal through innovate? capabilities to help our clients create value by reinventing the core of their NOAH Connect app businesses 2. Is there a main driver? 3. What are the success factors? And how • Digital McKinsey brings together more than 2,000 experts from across our can it be a catalyst for a greater global firm—including more than 1000 developers, designers, IT architects, data transformation of the company engineers, agile coaches, and advanced analytics experts in our Digital Labs

Attendees @ NOAH

Matthias Schmidt-Pfitzner, Digital Partner Holger Klärner, VP Fast Growth Tech EMEA Gérard Richter, Senior Partner Florian Wunderlich, Senior Partner Karel Dörner, Senior Partner

80 DIGITAL & TMT Digital Sports Media Company Powered by Socially Driven Content

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 • Asaf is the Chief Executive Officer of Minute Media, parent company of 90min. Asaf founded 90min in Headquarters London, UK Unique Users 51m 2011as FTBpro. Since then, 90min has grown to be Founded 2011 the world’s largest football media platform, driven by a Visits 155m contributor-driven model, and has expanded the brand throughout Europe, North America, South America Employees 100-1,000 Minutes 01:37 and Asia. Asaf is involved in all aspects of Minute Active Markets Global Media’s growth and operations, from product Mobile: 92% Sessions development to marketing and content. Desktop: 8% Ownership Private – VCs • Prior to 90min, Asaf was the founder and Chief Goldman Sachs, Battery Marketing Officer at Top 7 International and also spent Asaf Peled Key Investors Ventures, Gemini Ventures, four years at Cisco Systems Israel where he was North Base Media, P7S1, Qumra Founder & CEO responsible for business development in the Israeli market Funding $76m

• Asaf has a M.B.A. from The Wharton School at NOAH Content Minute Media at NOAH University of Pennsylvania and a bachelors of arts from Tel Aviv University. He resides in London and his Website minutemedia.com favourite team is the San Antonio Spurs

COMPANY PROFILE MINUTE MEDIA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in Israel in 2011 with the mission to build the world’s largest digital football community - 90min, today day we have grown to 3 O&O communities 1. Growth of digital publishing Present your business proposal through and 175 people in 12 cities across 4 continents. Our platform powers content, NOAH Connect app 2. Impact of changes in Facebook on digital advertising and technology experiences for our communities, hundreds of global publishers brands and some of the world’s biggest publishers 3. Reaching scale in digital publishing • Through a revolutionary mobile-first, community marketing strategy, Minute through superior technology Media connects millennials with timely, snackable content across every format, including video. Five international newsrooms and 5 video studios publish 1000 original pieces of content a day in 12 languages and produce original and Attendees @ NOAH branded video series. Over 85M millennials watch 250M original videos a month on our sites, and another 500M consume our content through Minute Media Asaf Peled, Founder & CEO partners and social channels • The same centralised, open platform that powers Minute Media’s global communities, also powers the content, advertising and product experiences for some of the world’s biggest publishers including Sports Illustrated, USA Today, Univision, Hearst, Oath, Turner and 100+ more

81 NOAH LONDON 2017 TOP STARTUPS All in One Property Management 2 for Airbnb Hosts

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Tillan has been an entrepreneur for the past 15 years. He is the founder of the award winning startup Headquarters Amsterdam, Netherlands Unique Users - <5k Misterporter, a ground-breaking Airbnb home owner web-application that will allow all rental logistics to run on autopilot Founded 2017 Visits - <5k • After he successfully founded and managed one of the largest full-service Airbnb management companies Employees 4-10 Minutes - 00:35 in the Netherlands, he now aims to capture a global market with Misterporter Mobile: 78% Active Markets International Sessions - Desktop: 22% Tillan Barros Apr 2018 Direct: 70%, Search: 16%, Ownership Private Founder & CEO Sources Social: 13%, Other: 1%

NOAH Content Misterporter at NOAH

Website misterporter.com

COMPANY PROFILE MISTERPORTER @ NOAH

Doing Business @ NOAH Main Presentation Topics • MISTERPORTER is a platform designed for property managers and airbnb hosts. It will allow operations to run on autopilot. Including channel distribution, 1. Airbnb management application Present your business proposal through pricing software, team distribution, task assignment and payments NOAH Connect app 2. Full service Airbnb Management • Misterporter believes in the future of home sharing economy that nourishes the companies are an outdated business idea of full cultural immersion with enjoyable travel, new experiences, and model warmth of communication with local people. We strive to contribute to the rise of 3. SaaS solution allowing home owners to the new economy by offering a simple, easy-to-use software solution that manage their own ecosystem smooths short-term rental management for homeowners • Designed and backed up by hospitality experts, homeowners, technology Attendees @ NOAH professionals, and creatives all committed to a cause, Misterporter offers a well- thought through web application to make lives of our customers easy. Placing Tillan Barros, Founder & CEO technology and customer experience at the core of our operations, we are dedicated to solving all short-term rental challenges with a completely hassle- free software solution. We are young, inspired and have a global ambition

82 CONSUMER GOODS, RETAIL & ECOMMERCE Leading Online Store for Eyewear Products

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Dirk Graber studied business administration in Marburg, Hong Kong, Moscow and Leipzig, graduating Headquarters Berlin, Germany Unique Users 0.9m 0.9m from the Leipzig Graduate School of Management Founded 2007 Visits 1.7m 1.6m • Before the founding of Mister Spex, Graber worked as a consultant in the Boston Consulting Group Employees 100-1,000 Minutes 08:45 06:25 • He gained experience in ecommerce during his Mobile: 61% Mobile: 56% Active Markets International Sessions studies through internships with eBay and Jamba Desktop: 39% Desktop: 44% Apr 2018 Direct: 32%, Search: 56%, • He also had stints at KPMG and Commerzbank Ownership Private – VCs Sources Referrals: 6%, Other: 6% • As a managing director of Mister Spex, he has particular responsibility for the Business Development, Goldman Sachs, SEP, DN Dirk Graber Key Investors Capital, Point Nine Capital, IT, Finance & Controlling, Operations and HR divisions Founder & Grazia Equity, Astutia Ventures Managing Funding $70m

Director NOAH Content Mister Spex at NOAH

Website misterspex.de

COMPANY PROFILE MISTER SPEX @ NOAH

Doing Business @ NOAH Main Presentation Topics • Mister Spex is Europe's leading online optician. Through its website, the Berlin- based company offers, alongside contact lenses, the most comprehensive 1. Why and how to go omni-channel? Present your business proposal through range of directly available designer glasses and sunglasses in Europe, all at NOAH Connect app 2. The combination of e-commerce with attractive prices brick-and-mortar retail • In addition to transparent pricing and cost savings for complete prescription 3. The digitization of retail glasses, customers benefit from free services such as eye tests and glasses adjustments, as Mister Spex already works in partnership with more than 500 local opticians in Germany, Austria, Switzerland, the Netherlands and Sweden • The Mister Spex service team is made up of qualified opticians providing Attendees @ NOAH customer advice by telephone or e-mail. The company has its own optician's workshop in Berlin, where the final production and quality control of the glasses Dirk Graber, Founder & MD takes place • The good quality of the glasses was confirmed in December 2014 by the German consumer research and advice foundation Stiftung Warentest, which named Mister Spex one of the best tested opticians (test 1/2015, p. 86 ff.).

83 TRANSPORTATION & MOBILITY Public Transport App and a Repository of Transport Data and Analysis

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Nir Erez is a serial entrepreneur with over 20 years of experience creating and leading technology startups Headquarters Tel Aviv, Israel Unique Users - 8.7m • Nir is currently the CEO and founder of Moovit. He is Founded 2012 Visits - 13.0m also a Co-founder and Co-owner of Eyron, a holding group of software companies and a seed investment Employees 100-1,000 Minutes - 02:51 group. Nir founded and was CEO of ActionBase Mobile: 76% Corporation, a U.S.based enterprise software Active Markets Global Sessions - company acquired in 2003. He also founded and was Desktop: 24% Apr 2018 Direct: 12%, Search: 12%, COO of Optimal+, a leading software company that Ownership Private – VCs Sources Referrals: 74%, Other: 2% revolutionized testing of semiconductors Intel Capital, Sound Ventures, Nir Erez • Prior to founding Moovit in 2011, Nir led the Key Investors NGP Capital, Sequoia Capital, investment arm of Eyron Group focused on early - BRM Capital, Vintage IP Founder & CEO stage software companies Funding $132m • Nir holds a B.Sc. in Physics from Bar Ilan University and is a graduate of the Israeli Defense Forces (IDF) NOAH Content Moovit at NOAH Computer Science Academy Website moovit.com

COMPANY PROFILE MOOVIT @ NOAH

Doing Business @ NOAH Main Presentation Topics • Moovit, the #1 public transport app and biggest repository of transport data and analysis in the world. Moovit simplifies your urban mobility in +2200 cities all N/A around the world, making getting around town via mass transit easier and more Present your business proposal through convenient NOAH Connect app • By combining information from public transit operators and authorities with live information from the user community, Moovit offers travelers a real-time picture, including the best route for their journey. The Moovit community sends active reports about their travel experience, such as bus congestion levels, cleanliness, and more to help others have a better travel experience Attendees @ NOAH • Moovit generates up to one billion anonymous data points a day that comprise the world's largest repository of transit data. The Big Data gathering is aided by Nir Erez, Founder & CEO Moovit’s network of more than 300,000 local editors, called “Mooviters”, who help map out and maintain local transit information in cities that would otherwise be unserved • Moovit is available for free on iOS, Android & Web in over 2,000 cities, across 80 countries worldwide, and can be used in 44 languages

84 TRANSPORTATION & MOBILITY Online Relocation Service Provider Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Finn Age Hänsel, 36, studied Business Administration in Germany, Hungary and New Zealand Headquarters Berlin, Germany Unique Users 51k 77k • Following a 4-year engagement at BCG, he joined Founded 2015 Visits 110k 133k Rocket Internet in Australia from 2011 to 2013, as a Managing Director Employees 100-1,000 Minutes 01:48 01:58 • After founding the largest australian online fashion Mobile: 66% Mobile: 55% Active Markets International Sessions retailer, THE ICONIC, he went on to become the Desktop: 34% Desktop: 45% Managing Director of the ProSiebenSat1-Incubator, Apr 2018 Direct: 28%, Search: 66%, EPIC Companies. Ownership Private – VCs Sources Referrals: 2%, Other: 4% Finn Age Hänsel • In 2015 he founded the Berliner Berg brewery and Rocket Internet, Earlybird, Index became a Business Angel for multiple Berlin start-ups Key Investors Ventures, Global Founders CEO including CrossEngage, SMACC and Einhorn Capital, Santo Venture Capital • In November 2015, he joined Movinga as Managing Funding $76m Director and today leads both, the Product and Technology Team as well as the marketing team. In NOAH Content Movinga at NOAH addition to that, he is the main contact person for all external partners and investors Website movinga.de

COMPANY PROFILE MOVINGA @ NOAH

Doing Business @ NOAH Main Presentation Topics • A vertically integrated logistics tech company for customers and medium-sized moving companies 1. Business Model Service Providers Interest 2. Achievements • As a professional full service provider we offer logistically optimised moves for Digital Services private individuals and companies, goods transports and courier services 3. Outlook

Attendees @ NOAH

Finn Age Hänsel, CEO

85 DIGITAL & TMT Curated Online Cinema and Community

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Efe Cakarel is a Turkish entrepreneur and the founder and CEO of MUBI, an online film service Headquarters London, UK Unique Users 1.2m 1.3m • Previously, Cakarel worked with Goldman Sachs in Founded 2007 Visits 2.8m 3.1m London and New York, where he worked on IPOs, mergers and acquisitions, and private equity Employees 51-100 Minutes 02:36 03:00 investments Mobile: 45% Mobile: 34% Active Markets Global Sessions • Cakarel was a contributor to The Huffington Post. He Desktop: 55% Desktop: 66% also has two patents involving the monetization of web Apr 2018 Direct: 51%, Search: 37%, Ownership Private – VCs applications Sources Referrals: 3%, Other: 9% Efe Cakarel • Cakarel obtained his bachelor of science in electrical Huanxi Media, MMC Ventures, engineering and computer science from MIT in 1998, Key Investors White Star Capital, C4 Ventures, Martin Varsavsky Founder & CEO and his MBA from Stanford Graduate School of Business in 2005 Funding $84m

NOAH Content MUBI at NOAH

Website mubi.com

COMPANY PROFILE MUBI @ NOAH

Doing Business @ NOAH Main Presentation Topics • MUBI is a curated online cinema and community that offers a subscription- based video on demand service N/A Present your business proposal through • It features a movie every day and makes it available for its users over a period NOAH Connect app of 30 days • The service is available in over 200 countries around the globe and on multiple devices such as mobiles, tabs, computers, and TVs • Notebook is a digital magazine published by MUBI that has content related to international cinema and film culture. Attendees @ NOAH • MUBI was launched on February 14, 2007, by Efe Cakarel and Gabe da Silveira Efe Cakarel, Founder & CEO

86 FINTECH Leading Digital-Only Banking Service

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Valentin is a Founder & CEO of N26 • Born in Vienna, Valentin studied Accounting & Headquarters Berlin, Germany Unique Users 0.5m 1.2m Finance (M.A. HSG) at the University of St. Gallen, Founded 2013 Visits 1.5m 2.6m Sophia University in Tokyo and Vienna University of Economics and Business Administration Employees 380 Minutes 04:04 03:43 • During his studies he worked in a number of fields Mobile: 32% Mobile: 37% Active Markets International Sessions including Strategy Consulting and Investment Desktop: 68% Desktop: 63% Banking/Mergers & Acquisition Apr 2018 Direct: 49%, Search: 28%, Ownership Private – VCs • After graduating he joined the Internet Incubator Sources Referrals: 8%, Other: 15% Valentin Stalf Rocket Internet as Entrepreneur in Residence and Allianz X, Tencent, Horizons was involved in building different companies Key Investors Ventures, Valar Ventures, Founder & CEO Earlybird Funding $215m

NOAH Content N26 at NOAH

Website N26.com

COMPANY PROFILE N26 @ NOAH

Doing Business @ NOAH Main Presentation Topics • N26 is Europe’s first Mobile Bank with a full European banking license and is setting new standards in banking N/A Present your business proposal through • N26 has redesigned banking for the smartphone, making it simple, fast and NOAH Connect app contemporary. Opening a new bank account takes only eight minutes and can be done directly from your smartphone. Users receive a Mastercard to pay cashless or withdraw cash all around the world. They can block or unblock their card with a simple click and send money instantly to friends and contacts • N26 was founded in early 2013 by Valentin Stalf and Maximilian Tayenthal • Since January 2015, N26 has been available for Android, iOS, and desktop Attendees @ NOAH • N26 has raised $215 million in funding Valentin Stalf, Founder & CEO

87 INVESTORS Growth-Stage Investor Seeking Entrepreneurs Building Intelligent Devices and Connecting Services

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Walter has over 10 years of technology and investment experience. While overseeing investments and portfolio Headquarters Palo Alto, CA, US activities for NGP Capital in Europe, Walter has been working in a global team his whole career. He has prior Founded 2005 experience from working at Nokia and was an entrepreneur in the social medial space before that. His current investment focus is on Digital Health and Funds Raised $1.1bn Consumer Services. Current Fund Size $350m • Walter’s passion is to help thriving entrepreneurs and dedicated teams to succeed. He enjoys working with Walter Masalin disruptive companies, innovative new technologies and Employees 11-25 bold thinking individuals. Well-being is a curiosity of his Partner and he has a big appetite for how technology can Active Markets Global enable better personal health. • Walter holds a M.Sc. in Engineering Physics from NOAH Content NGP at NOAH Helsinki University of Technology, a M.Sc. in Economics from University of Helsinki and studied Website ngpcap.com Economics and Psychology at Harvard University

INVESTOR PROFILE NGP CAPITAL @ NOAH

Doing Business @ NOAH Main Presentation Topics • NGP Capital is a globally engaged venture capital fund backing growth-stage and revenue-generating technology companies that will shape and power a fully Fireside chat with Present your business proposal through connected world NOAH Connect app • By operating one, global fund with over $1 billion under management, we extend us our companies’ reach via on-the-ground teams in the U.S., Europe, India, and China making our portfolio company products and services local everywhere

Attendees @ NOAH

Walter Masalin, Partner

88 INVESTORS Omnichannel Platform for Consumer Services and Lifestyle Brands in Europe

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Dr. Florian Tappeiner is Co-CEO of NCG - NuCom Group SE and Managing Director of NCG Commerce GmbH Headquarters Unterfohring, Germany • Florian Tappeiner has been at ProSiebenSat.1 since 2015 and has led the Group's M&A Department as Founded 2018 Executive Vice President M&A • Before ProSiebenSat.1, Florian was Director of the Private Equity firm H.I.G. Capital Employees 100-1,000

Florian Active Markets International Tappeiner Corporate Click here to download Co-CEO and Presentation Managing Director Website nucom.group

INVESTOR PROFILE NUCOM GROUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • NuCom Group is a majority-owned subsidiary of ProSiebenSat.1 Media SE, one of Europe's leading media companies and Germany's biggest TV Network 1. Goals of NuCom Group Investor Interest 2. Partnership with General Atlantic • Since 2018, General Atlantic as one of the leading global growth equity firms Price Comparison has also invested a significant stake in the NuCom Group 3. Expansion plans of NuCom Group in Dating / Matchmaking 2018 • Through leveraging ProSiebenSat.1's media power and expertise combined Beauty & Lifestyle Ecommerce with General Atlantic's operational and investment excellence, we accelerate Gift / Event Vouchers the strong growth path of our portfolio companies and create superior value both for Investors and our portfolio companies • Ownership split: 75% ProSieben Sat.1 and 25% General Atlantic Attendees @ NOAH Florian Tappeiner, Co-CEO & MD

Claas van Delden, Co-CEO & MD

89 TRANSPORTATION & MOBILITY Public Transportation Optimization Software

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key KPIs • Amos leads, guides, and directs the overall success of Optibus Headquarters Tel Aviv, Israel Cities on the Platform 300 • During his career Amos architected online ad targeting Founded 2014 systems, search engines, and the Cortana personal Revenue Frowth 3x YoY assistant, for Microsoft, Siemens, and Collarity. Amos’ experience includes: optimization and graph Employees 51-100 algorithms, machine learning, distributed systems and big data Active Markets International

• Amos holds a B.Sc. in Mathematics and Computer Ownership Private – VCs Science from Ben-Gurion University Amos Haggiag Pitango Ventures, Verizon Key Investors • He graduated with Dean Excellence, decorated by the Ventures, Sir Ronald Cohen Co-founder & Wolf, Intel, and Elkin prizes Funding €14.5m CEO NOAH Content Optibus at NOAH

Website optibus.co

COMPANY PROFILE OPTIBUS @ NOAH

Doing Business @ NOAH Main Presentation Topics • Optibus leveraged artificial intelligence and advanced optimization algorithms to help the world’s leading transit providers better run mass-transportation 1. The biggest challenge in transportation Service Provider Interest 2. How we disrupt mass transportation • Our disruptive technology is used in over 200 cities and drives some of the most Ecommerce Services complex and large-scale transit operations worldwide, helping improve quality of 3. How we use AI to optimize city service and efficiency, reduce costs and streamline operations transportation Partnerships Interest • The company is backed by Verizon Ventures, Pitango VC and others, and is We are looking for public transit operators or located in Tel Aviv and San Francisco car/bus OEMs that want to be beta users or design partners for new mobility solutions Attendees @ NOAH that we develop Amos Haggiag, Co-founder & CEO Key Hires Interest Country Manager Germany

90 ONLINE FASHION Online Personal Shopping Service for Men

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • In 2012 Julia Bösch together with her co-founder Anna Alex launched OUTFITTERY with the vision to create Headquarters Berlin, Germany Unique Users 9k 33k a shopping experience for men that is convenient, fun and inspiring Founded 2012 Visits 18k 69k

• Prior to OUTFITTERY Julia lead the Employees 300 (including 150 stylists) Minutes 01:55 02:09 internationalization of Zalando Mobile: 9% Mobile: 41% Active Markets International Sessions • She studied at Columbia Business School in New Desktop: 91% Desktop: 59% York, Munich and Madrid Apr 2018 Direct: 37%, Search: 53%, Ownership Private – VCs Sources Referrals: 1%, Other: 9% Highland Capital Partners, Julia Bösch Holtzbrinck Ventures, Mangrove Key Investors Capital Partners, Northzone Founder & CEO Capital, Octopus Ventures Funding €50m

NOAH Content OUTFITTERY at NOAH

Website outfittery.com

COMPANY PROFILE OUTFITTERY @ NOAH

Doing Business @ NOAH Main Presentation Topics • OUTFITTERY makes it easier for men to shop for fashion online. Customers simply answer a few questions about their clothing style and sizes at 1. Curated Shopping Market Service Providers Interest www.outfittery.com 2. Men's Shopping Insights Ecommerce Services • OUTFITTERY’s stylists then personally contact them and put together individual 3. OUTFITTERY Business Model Marketing outfits which are conveniently shipped to their homes. The customers then keep whatever they like and send the rest back. OUTFITTERY offers this innovative Analytics service free of charge • The Berlin-based company was founded in 2012 by Julia Bösch and Anna Alex and now employs 300 people. 150 stylists are solely dedicated to the fashion Attendees @ NOAH desires of their customers Julia Bösch, Founder & MD • More than 500.000 men have used OUTFITTERY • Over 100 high-quality fashion brands are on offer. The company is currently active in Germany, Austria, Switzerland, the Netherlands, Belgium, Luxembourg, Sweden and Denmark.

91 INVESTORS Strategic Partner Global Private Equity Firm

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Stefan became Partner in 2018 and focuses on investment opportunities in the Technology and Industrials sectors specialising in software, internet/e- Headquarters London, UK commerce and industrial technology • He has worked on a number of transactions including Ancestry, Klarna, P&I, ProSiebenSat.1, Schustermann Founded 1985 & Borenstein, TeamViewer and Tilney • Prior to joining Permira, Stefan worked as an associate in investment banking at Salomon Smith Employees 100-1,000 Barney/Citigroup in New York and Hong Kong for four Stefan Dziarski years. He was part of Citigroup's New York Media and Telecom M&A practice and was previously part of Partner Citigroup's Asia Pacific Technology practice Active Markets Global • Stefan has a Master’s degree in Business Administration from the European Business School, Germany. He also studied at Thunderbird School of Website permira.com Global Management, USA as well as at the National University of Singapore, Singapore

INVESTOR PROFILE PERMIRA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Permira was founded in 1985 and operated under the Schroder Ventures brand. After raising its first pan-European fund in 1997, the firm became Permira Fireside chat with and Present your business proposal through following a rebrand in 2001. Today we are an international investment firm with NOAH Connect app more than 200 people in 14 offices globally spanning Europe, North America and Asia • Our five global sector teams are highly skilled in finding growth opportunities in Consumer, Healthcare, Financial Services, Industrials and Technology • Since 1985, our funds have secured €32bn of committed capital and back more than 200 businesses Attendees @ NOAH

Andrew Young, Principal

Dipan Patel, Partner

Stefan Dziarski, Partner

92 INVESTORS Strategic Partner Global Private Equity Firm

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Dipan is a Partner. He joined the London office in 2009 and relocated to the Menlo Park office in 2012 Headquarters London, UK • He focuses on investment opportunities in the Technology sector, working on a number of transactions including Ancestry, Informatica, LegalZoom and Renaissance Learning Founded 1985 • He is currently a non-executive director at Ancestry, Informatica and LegalZoom.Prior to joining Permira, Dipan worked for Gores Group, a special situations Employees 100-1,000 private equity fund Dipan Patel • Before that, he spent three years with Lehman Brothers, latterly as an associate in the Partner Active Markets Global Communications & Media practice

Website permira.com

INVESTOR PROFILE PERMIRA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Permira was founded in 1985 and operated under the Schroder Ventures brand. After raising its first pan-European fund in 1997, the firm became Permira Fireside chat with Present your business proposal through following a rebrand in 2001. Today we are an international investment firm with NOAH Connect app more than 200 people in 14 offices globally spanning Europe, North America and Asia • Our five global sector teams are highly skilled in finding growth opportunities in Consumer, Healthcare, Financial Services, Industrials and Technology • Since 1985, our funds have secured €32bn of committed capital and back more than 200 businesses Attendees @ NOAH

Andrew Young, Principal

Dipan Patel, Partner

Stefan Dziarski, Partner

93 INVESTORS Strategic Partner Global Private Equity Firm

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Andrew is a Principal and focuses on investment opportunities in the Technology sector, with a particular focus on Fintech. He has worked on a number of Headquarters London, UK transactions including All3Media, Ancestry, Klarna and Magento and currently serves on the Board of Klarna and Magento Founded 1985 • Prior to joining Permira, Andrew worked for Pacific Equity Partners, an Australasian Private Equity firm, as an Investment Associate in Sydney and New York Employees 100-1,000 • Prior to that, he worked as an associate at Citigroup Andrew Young and spent six years with Andersen Consulting/MLC Investments as a consultant to leading financial Principal services corporations Active Markets Global • Andrew has a degree in Finance from University of Technology, Australia, and an MBA from London Business School, England Website permira.com

INVESTOR PROFILE PERMIRA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Permira was founded in 1985 and operated under the Schroder Ventures brand. After raising its first pan-European fund in 1997, the firm became Permira Fireside chat with Present your business proposal through following a rebrand in 2001. Today we are an international investment firm with NOAH Connect app more than 200 people in 14 offices globally spanning Europe, North America and Asia • Our five global sector teams are highly skilled in finding growth opportunities in Consumer, Healthcare, Financial Services, Industrials and Technology • Since 1985, our funds have secured €32bn of committed capital and back more than 200 businesses Attendees @ NOAH

Andrew Young, Principal

Dipan Patel, Partner

Stefan Dziarski, Partner

94 TRANSPORTATION & MOBILITY German Manufacturer of High Performance Automobiles

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • With more than 15 years of professional experience, Sebastian has enabled numerous global organizations Headquarters Stuttgart, Germany Market Cap €21.9bn to benefiting from innovative business approaches. He combines expertise in analysis and strategy, technical Founded 1931 solution shaping, execution and sales and marketing. 2017 He authored various publications on digital opportunities and customer centricity, which have Employees 10,000+ Profit €m 3,332 gained him, and the consulting organization he built, the reputation of a thought leader in this space Active Markets Global • He was the supporting founder and managing director Sebastian of Mercedes-Benz.io GmbH and is now Vice President Ownership Public (ETR) Wohlrapp Digital Business Platform at Dr. Ing. h.c. F. Porsche AG, enabling the organization to build the Ecosystem Annual Report Click here to download VP Digital for the Future Sportscar Business NOAH Content Porsche at NOAH Platform Website porsche-se.com

COMPANY PROFILE PORSCHE @ NOAH

• Porsche Automobil Holding SE ("Porsche SE") is a listed holding company. The Doing Business @ NOAH Main Presentation Topics holding was founded in 2007. In particular, it holds the majority of the ordinary 1. Sports Cars shares in the Volkswagen Group, one of the world's leading automobile Present your business proposal through manufacturers. The Group comprises twelve brands from seven European NOAH Connect app 2. Mobility countries: Volkswagen Passenger Cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, 3. Ecosystem Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN • In addition to this anchor shareholding, Porsche SE intends to make further strategic investments along the automotive value chain. This comprises the entire spectrum of basic technologies geared to supporting the development Attendees @ NOAH and production process through to vehicle- and mobility-related services Sebastian Wohlrapp, VP Digital Business Platform

All financial actual data provided by Yahoo Finance, as of 08/05/2018. 95 HEALTHCARE, SCIENCE & EDUCATION Comprehensive Fertility Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Varsavsky started his career in the late 1980s when he founded Medicorp Sciences. In the 1990s, he built Headquarters Atlanta, GA, US Unique Users 15k <5k Viatel, which became the first pan-European fiber optic network, followed by Jazztel, which did in Spain what Viatel did throughout Europe. When Varsavsky Founded 2016 Visits 69k 8k exited Viatel the company was worth $1.2B and when he exited Jazztel it was worth $770M Employees 100-1,000 Minutes 01:11 01:01 • In the early 2000s he built Ya.com, the second largest Spanish-language internet portal with an investment of Mobile: 93% Mobile: 56% Active Markets National Sessions $28M, which was sold to Deutsche Telekom a few Desktop: 7% Desktop: 44% Martin years later for $650M Apr 2018 Direct: 24%, Search: 51%, • Subsequently, Varsavsky built one of the first Ownership Private – VCs Varsavsky Sources Referrals: 24%, Other: 1% European cloud computing companies, Einsteinet; co- Founder founded Eolia, one of Spain's largest renewable energy companies; and started Fon, the world's Funding $200m largest WiFi network with over 21 million hotspots. Varsavsky is currently the largest shareholder and Website preludefertility.com Chairman of Fon

COMPANY PROFILE PRELUDE @ NOAH

Doing Business @ NOAH Main Presentation Topics • Prelude is a comprehensive fertility company focused on providing proactive fertility care to improve people’s chances of having healthy babies when they’re N/A Present your business proposal through ready. Founded in 2016 by serial entrepreneur Martín Varsavsky, Lee Equity NOAH Connect app Partners, Reproductive Biology Associates and My Egg Bank North America, the company was established to give men and women more reproductive choices and control over their biological clocks using The Prelude Method • The Prelude Method is a four-step process that includes egg and sperm freezing, genetic testing, embryo creation, and single embryo transfer. By coupling earlier decision making with the latest reproductive science and Attendees @ NOAH technology, The Prelude Method can dramatically increase the probability of having a healthy baby and decrease the chances of requiring infertility therapy Martin Varsavsky, Founder later in life

96 FINTECH Pan-European Online Marketplace for Savings Products

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Tamaz Georgadze As CEO he leads Raisin and takes in particular care of partner bank acquisition, business Headquarters Berlin, Germany Unique Users <5k 9k development, legal and regional expansion efforts • Prior to building and scaling Raisin, Tamaz has spent Founded 2013 Visits 10k 24k 10 years with McKinsey & Company, the last 3 years as Principal leading also McKinsey Savings and Employees 100-1,000 Minutes 01:29 01:53 Investment products Service Line for EMEA countries. Mobile: 0% Mobile: 47% Active Markets International Sessions He served some of the very largest retail, universal Desktop: 100% Desktop: 53% and wholesale banks throughout Europe and in Asia Apr 2018 Direct: 37%, Search: 49%, Ownership Private – VCs • Tamaz holds a PhD in agricultural economics, Sources Referrals: 8%, Other: 6% Tamaz Index Ventures, Thrive Capital, graduated with honors in law (both from University of Key Investors Georgadze Giessen) and international economics (from Tbilisi Ribbit Capital State University) Funding €60m Founder & CEO NOAH Content Raisin at NOAH

Website raisin.com

COMPANY PROFILE RAISIN @ NOAH

Doing Business @ NOAH Main Presentation Topics • Raisin is a one-stop-shop marketplace giving customers access to the best savings products and interest rates across Europe that are significantly higher N/A Present your business proposal through than in their home countries. Raisin’s solution allows customers to access all NOAH Connect app these products via one single registration, requiring just one single identification. • Raisin is available on a pan-European level in 31 countries with localized presences in Germany, France, Spain, and Austria as well as Italy (starting soon) • Since Raisin’s founding in 2013, more than 90,000 customers have invested more than €4 billion. The company is offering the majority of the highest Attendees @ NOAH available interest rates across Europe, giving customers access to more than 140 products from 35 banks from 17 European countries Tamaz Georgadze, Founder & CEO • Raisin enables third-party distribution partners to fully integrate company offers into their platforms. Thanks to the proprietary API, partners like the mobile bank N26 can offer Raisin deposit products directly to their customers

97 MARKETING TECH SEO Platform for Enterprise-Level Businesses

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Mayer is the CEO and Founder of RankAbove. Prior to founding RankAbove in 2007, Mayer was Founder and Headquarters Beit Shemesh, Israel CEO of ITS, a search marketing firm, where he noticed a common need among his customers: they struggled to manage the colossal task of optimizing Founded 2007 their websites, often comprised of thousands to hundreds of thousands of pages Employees 11-25 • Mayer eventually sold ITS so that he could work towards filling this need for sophisticated SEO technology. Two years later, in 2009, RankAbove Active Markets Global Mayer Reich launched its proprietary SEO technology, the RankAbove platform Ownership Private – Business Angels Founder & CEO • Over the years Mayer had the honor of serving as an ambassador to the Israeli digital media sector in NOAH Content RankAbove at NOAH several delegations aiming to expand the Israeli tech footprint overseas Website rankabove.com

COMPANY PROFILE RANKABOVE @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in 2007, RankAbove is a global leader in enterprise SEO technology and managed services. Employing proprietary technology and SEO best 1. Managing risk when Google holds the Service Provider Interest practices, RankAbove’s SEO platform delivers complete search insights, clear cards Ecommerce Services on-page optimization strategies and actionable recommendations - in real time 2. Effective SEO strategies for growth and in any language 3. Content is still king but only if there's • It is the SEO solution built to scale that can track millions of keywords, backlinks good architecture and webpages. Enterprise organizations achieve measurable success, genuine scalability, and direct impact on their bottomline • RankAbove has offices in Israel and NYC Attendees @ NOAH

Mayer Reich, Founder & CEO

98 TRAVEL & TOURISM Designer of Prefabricated Homes

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Antonio currently has 82m square feet worth of developed, in- Traffic Apr-17 Apr-18 progress, and managed properties under his belt, being the Founder and President of Antonio Development, Managing Director of Century Headquarters Makati City, Manila, Philippines Unique Users 6k 7k Properties, and now the Founder and CEO of Revolution Precrafted • Under his leadership, Revolution Precrafted has clinched around $7.2bn in project revenues for the company’s ongoing projects in the Founded 2015 Visits 11k 21k Philippines, Myanmar, United Arab Emirates, Jamaica, Guyana, Bahamas, Trinidad and Tobago, Puerto Rico and Japan • To date, he has worked with 13 Pritzker Prize Architects/firms such as Employees 51-100 Minutes 03:28 01:25 Zaha Hadid, Philip Johnson Alan Ritchie, Rem Koolhaas, Jean Nouvel, I.M. Pei, Paulo Mendes da Rocha, and Christian de Mobile: 0% Mobile: 60% Portzamaprc, as well as designers such as Ron Arad, Campana Active Markets Global Sessions Brothers, Tom Dixon, Philippe Starck, and Marcel Wanders. He has Desktop: 100% Desktop: 40% Robbie Antonio worked with over 103 notable brands in various fields—including fashion, Hollywood, luxury, design, and art. He has established the Apr 2018 Direct: 20%, Search: 72%, Ownership Private – VCs largest number of luxury branded real estate developments across the Sources Referrals: 4%, Other: 4% Founder & CEO globe, by working with Giorgio Armani for Armani Casa, Forbes Media, Versace, Missoni Home, Paris Hilton, Lenny Kravitz and Wallpaper* Magazine Key Investors 500 Startups, K2 • He is the youngest person in Forbes’ “Philippines’ 50 Richest.” This year, he was cited by BuiltWorlds in its 2018 Mavericks Report as one of “25 Pioneers Who’ve Transformed the Built Industry.” In May 2018, Website revolutionprecrafted.com he was named “Real Estate Personality of the Year” by PropertyGuru.

COMPANY PROFILE REVOLUTION PRECRAFTED @ NOAH

Doing Business @ NOAH Main Presentation Topics • Revolution is a collection of limited edition, pre-crafted properties, including homes and pavilions, introduced by Robbie Antonio, who is known for bringing Fireside chat with Marco Rodzynek Service Provider Interest in celebrity-branded developments. The project unites over seventy (70) of the world’s top designers to create an exclusive series of prefabricated, livable Ecommerce Services spaces Offline Services • With a network of cutting-edge technologies and cost-efficient productions Communications, Marketing systems, Revolution is democratizing high-design and architecture by Analytics & Digital Services introducing designed spaces in exclusive collaboration with industry leading creatives Partnerships Interest Attendees @ NOAH • Revolution Precrafted is valued at over $1B. It is the fastest growing unicorn VCs, Unicorn Companies, Forbes-listers startup in South East Asia (Companies and CEOs), Disruptors, Robbie Antonio, Founder & CEO Landowners, Developers

Key Hires Interest Business Development

99 CONSUMER GOODS, RETAIL & ECOMMERCE Platform That Identifies and Builds Proven Internet Business Models

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Bachelor’s degree, WHU–Otto Beisheim School of Management, Vallendar. Began Career as Trainee at Headquarters Berlin, Germany Market Cap €4.0bn Sal. Oppenheim Founded 2007 Enterprise Value €1.1bn • 1999, co-founded Alando in Germany and sold the company to eBay; then became Managing Director Employees 33,000+ (incl. ventures) eBay Germany, Switzerland and Austria. 2000, co– 2016 2017 Growth founded Jamba and sold to VeriSign in 2004 Active Markets Global Revenues €m 2,060 2,640 28% • Since 2006, numerous investments, including Ownership Public (ETR) Facebook, LinkedIn, Groupon, Zalando, Funding Adj. EBITDA €m (360) (310) - Global Founders, United Circle, Lazada Key Shareholders Oliver Samwer Internet, Baillie Gifford Margin % (15%) (10%) - • 2007, co-founded Rocket Internet. 2014, became CEO Annual Report Click here to download Founder & CEO and took the company public; Rocket Internet incubates online business models and invests in Website rocket-internet.com startups through its venture capital arm Global Founders Capital Key Operating KPIs

Aggregated GMV 2017 €3.3bn

COMPANY PROFILE ROCKET INTERNET @ NOAH

Doing Business @ NOAH Main Presentation Topics • Rocket Internet incubates and invests in internet and technology companies globally. It provides operational support to its companies and helps them scale Fireside chat with Marco Rodzynek Present your business proposal through internationally NOAH Connect app • Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 33,000 employees. • Rocket Internet holds stakes in two significant publicly listed companies, Attendees @ NOAH Delivery Hero and HelloFresh. Rocket Internet SE is listed on the Frankfurt Stock Exchange and is included in the MDAX index. For further information Oliver Samwer, Founder & CEO please visit www.rocket-internet.com

All financial actual provided by CapitaIQ, as of 06/05/2018. 100 PAYMENTS Global Omni-channel Payments Services Provider

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Operating KPIs • A seasoned entrepreneur and executive with a proven track record as an expert in the field of online Headquarters London, UK Number of Transactions 2017 173.8m payments processing, risk and related services. Currently the CEO of successfully listed SafeCharge Transaction Value 2017 $9.6bn Founded 2007 • A wealth of knowledge and experience in the global Valuation Data and Key Financials payments processing arena (over 14 years) Employees 100-1,000 • Solid relationships with a network of respected Market Cap €542m financial institutions, key service providers and Active Markets Global payment platforms 2017 2018E Growth • Instrumental in facilitating key acquisitions David Avgi Ownership Public (LSE) Revenues €m 90 146 62% • Comprehensive hands-on knowledge in successfully Company FY 2017 Presentation EBITDA €m 27 42 55% CEO building, growing and evolving online payments and e- Presentation commerce operations Margin % 30% 29% - • Spearhead the development of ground-breaking risk NOAH Content SafeCharge at NOAH and payment processing technologies that combined EV/Revenue 3.6x 3.1x (13%) with intuitive marketing insight has enabled clients to Website safecharge.com EV/EBITDA 11.7x 10.6x (9%) optimize sales

COMPANY PROFILE SAFECHARGE @ NOAH

Doing Business @ NOAH Main Presentation Topics • SafeCharge is a payments technology company providing an open payment solution that covers the entire value chain from gateway through to acquiring Fireside chat with Marco Rodzynek Service Provider Interest and risk management Ecommerce Services • SafeCharge enables businesses to accept more than 150 payment methods worldwide. In addition to its direct connection to all major card schemes including Visa, MasterCard, Union Pay and American express, SafeCharge is connected to over 17 processing partners, making it the only payments technology company to offer total integration with other best of breed payment technologies Attendees @ NOAH • The company has been listed on the London Stock Exchange AIM market since 2014 David Avgi, CEO Delphine Bos, VP Marketing Nicolas Verdenne, CBDO Yuval Ziv, COO Iris Veleanu, Marketing Projects Manager

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 101 FINTECH Digital Investment Service

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Erik has many years of experience in the financial and e-commerce sector. Until last, he was Co-CEO at Headquarters Munich, Germany Westwing Home & Living Germany • Prior to this, Erik spent 7 years working in London and Founded 2014 Frankfurt as an Executive Director and Vice President for Goldman Sach Employees 11-50

• Erik studied Business and Economics at the University Active Markets Global of Kiel and Warwick Business School • In addition, he was a tutor for statistics and Ownership Private – VCs econometrics Erik Podzuweit Key Investors BlackRock, Holtzbrinck Ventures

Founder and Co- Funding €43m CEO NOAH Content Scalable Capital at NOAH

Website scalable.capital

COMPANY PROFILE SCALABLE CAPITAL @ NOAH

Doing Business @ NOAH Main Presentation Topics • With assets under management of over £300 million, Scalable Capital is one of the leading digital investment managers in Europe. Since its launch in Germany Fireside chat with Present your business proposal through in February 2016 and in the UK in July 2016, it has established a leading NOAH Connect app proposition with strong demand not just from private investors, but also from financial institutions and corporates • The company has most recently announced a close partnership with ING-DiBa in Germany, to offer over 8 million ING-DiBa customers access to its wealth management, with a deep technical integration into ING-DiBa’s systems. Earlier this year, Scalable Capital announced a partnership with Siemens Private Attendees @ NOAH Finance in Germany • The company currently employs a team of over 60, many of them experts in Erik Podzuweit, Founder and Co-CEO financial econometrics and machine learning as well as software engineering. Scalable Capital creates and manages globally diversified ETF portfolios for its clients to help them achieve their long-term financial goals, supported by a proprietary risk management technology. It aims to make investment management cheaper, better and more accessible

102 B2B & SOFTWARE Electronic Voting and Electoral Modernization Solutions

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Holger Taubmann joined Scytl in April 2018 as Chief Executive Officer. Holger is responsible for leading Headquarters Barcelona, Spain Unique Users <5k <5k Scytl´s business worldwide Founded 2001 • Prior to joining Scytl, Holger worked at Amadeus for Visits 13k 8k 20 years where, as SVP. He was a member of the Employees 100-1,000 Amadeus Executive Board reporting to the CEO. Minutes 03:38 02:06 • Prevouisly, he served as Head of Business Control; he Active Markets Global Mobile: 25% Mobile: 34% also headed up the Global Airlines Account team. In Sessions Desktop: 75% Desktop: 66% 2004 he became CEO of Amadeus Germany Ownership Private – VCs Apr 2018 Direct: 41%, Search: 44%, • More recently, from spring 2017 until March 2018, Balderton Capital, Vulcan Holger Key Investors Sources Referrals: 13%, Other: 2% Holger held the position of VP International at Capital, Nauta Capital Taubmann AERTICKET in Berlin, one of the largest consolidators for air travel worldwide Funding $130m CEO • His professional career began in 1988 at Lufthansa. NOAH Content Scytl at NOAH After completing a three-year training program, he first held an analyst position in regional management for Website scytl.com Africa. He then worked as a Product Brand Manager

COMPANY PROFILE SCYTL @ NOAH

Doing Business @ NOAH Main Presentation Topics • Scytl is the global leader in secure online voting and election modernization solutions 1. Overview of the election technology Present your business proposal through industry and its market potential • Scytl's technology is protected by over 40 international patents built up over 20 NOAH Connect app years of research 2. Scytl's market and technology leadership 3. Outlook to upcoming technology • Scytl's election solutions have been successfully used in 47 countries across breakthrough in the election industry the globe, including the United States, Canada, United Kingdom, France, Germany, Switzerland, Brazil, South Africa, India and Australia • Scytl, headquartered in Barcelona, is backed by leading international VC investors such as Vulcan Capital, Balderton Capital, and Nauta Capita Attendees @ NOAH Holger Taubmann, CEO

Pere Vallés, Chairman

103 LENDING PLATFORMS Germany’s Leading Loan Portal

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Alexander Artopé is Co-Founder and CEO of smava, Germany’s leading loan portal Headquarters Berlin, Germany Unique Users 0.4m 0.9m • Alexander has more than 18 years of entrepreneurial Founded 2007 Visits 0.6m 1.6m and Internet experience Employees 100-1,000 Minutes 04:07 03:12 Active Markets National Mobile: 63% Mobile: 78% • Before he founded smava in 2006, Alexander co- Sessions Desktop: 37% Desktop: 22% founded the enterprise software company datango Ownership Private - VCs Apr 2018 Direct: 44%, Search: 35%, and served as CEO. The company was sold to SAP. Vitruvian Partners, Earlybird, Sources Referrals: 8%, Other: 13% Previously, Alexander was co-author and managing Key Investors Runa Capital, Phenomen editor for the book “The internet economy” with the Ventures, Lukasz Gadowski European Communication Council Funding $128m Alexander • Alexander studied business administration and NOAH Content smava at NOAH Artopé communication science at LMU Munich and FU Berlin Website smava.de Co-Founder & CEO Key Operating KPIs New Loan Volume 2017 €1bn+ New Loan Volume CAGR 80%+

COMPANY PROFILE SMAVA @ NOAH

Doing Business @ NOAH Main Presentation Topics • smava is Germany’s leading loan portal and makes personal loans transparent, fair and affordable for consumers N/A Present your business proposal through • Based on digital processes, smava offers a market overview of 70 loan offers, NOAH Connect app ranging from €1k to €120k from over 25 banks. In this way, borrowers can choose and conclude the deal most favourable to them. With an average loan sum of more than €10k, they can save up to €2k • In 2017 alone, the originated loan volume will exceed €1bn, with a total of more than 3 billion euros altogether • Based in Berlin, the fintech company employs 300 employees from 30 nations Attendees @ NOAH under the direction of an experienced management team with strong Alexander Artopé, Co-Founder & CEO backgrounds in finance and technology • To date, highly regarded investors such as Vitruvian Partners, Earlybird, Verdane Capital and Runa Capital have invested $128m in smava

104 INVESTORS Multi-stage Venture Capital Fund

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • David Thevenon is a Partner at SoftBank Investment Advisers Headquarters Tokyo, Japan • Prior to SoftBank, he worked at Google as a Senior Director, Global Android Partnerships, where he was heading up the business development teams that Founded 1981 handle partnerships for Android globally • Prior to that he was Google’s Senior Director, International Product Partnerships leading the business Current Fund Size $100bn (SoftBank Vision Fund) development teams that negotiate and manage product enabling partnerships and new business development David Thevenon for all Google's products (except YouTube and Employees 100-1,000 Android) across LATAM, APAC and EMEA Partner Active Markets Global

Website softbank.jp/en/

INVESTOR PROFILE SOFTBANK @ NOAH

Doing Business @ NOAH Main Presentation Topics • At SoftBank Investment Advisers, we seek to catalyze technological progress for the benefit of humanity Fireside chat with Marco Rodzynek Present your business proposal through • Through the SoftBank Vision Fund, we are investing more than $93 billion in the NOAH Connect app businesses and technologies that we believe will enable the next stage of the information revolution • We offer the operational expertise, global network and patient, long-term capital required to help innovators build transformative companies.

Attendees @ NOAH

David Thevenon, Partner

105 LENDING PLATFORMS Versatile Funding Solutions to SMEs

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Jens Woloszczak worked as a consultant for McKinsey & Company for more than five years, where Headquarters Berlin, Germany he focused on the commercial banking sector Founded 2014 • Working for major European banks, Jens experienced the outdated approach these banks took towards Employees 100-1,000 working with SMEs. Jens saw an opportunity in the industry and founded Spotcap, with the aim of Active Markets International changing the banking landscape by using the latest technologies to address the financing challenges Ownership Private – VCs faced by small businesses Rocket Internet, Finstar Financial Group, Access Industries, Holtzbrinck Ventures, Kreos Jens • Jens holds a degree in industrial engineering from the Key Investors Capital, Heartland Bank Woloszczak Technical University of Berlin and studied economics at Cass Business School Funding €100m Founder & CEO NOAH Content Spotcap at NOAH

Website spotcap.com

COMPANY PROFILE SPOTCAP @ NOAH

Doing Business @ NOAH Main Presentation Topics • Spotcap empowers SMEs with tailored finance, allowing them to focus on what really matters—their business. The company has developed a unique 1. The financing problem facing small Partnerships Interest proprietary lending platform and credit algorithm which offers a fast and superior businesses around the world; an assessment of the real-time performance of SMEs White label lending technology partnerships; introduction to Spotcap and its Lending as a Service partnerships foundational story; its USP and historical • Led by Founder and CEO Jens Woloszczak, Spotcap is headquartered in Berlin performance Germany, and operates as a direct lender to SMEs in the United Kingdom, the Netherlands, Spain, Australia and New Zealand. The company has entered into 2. Spotcap’s two pillar approach to solving a strategic partnership with BAWAG Group to offer same-day financing to this problem - direct business lending in Austrian SMEs and now offers its proprietary technologies and models to major five markets and Lending as a Service institutions, financial or otherwise, under its Lending-as-a-Service proposition partnerships with major institutions, financial or otherwise • Spotcap has raised 100 million euros in financing and is backed by a number of 3. What’s next for Spotcap and the financial high profile investors including Rocket Internet, Finstar Financial Group, Access services industry Industries, Holtzbrinck Ventures and Heartland Bank • The growing team currently consists of more than 120 employees globally Attendees @ NOAH

Jens Woloszczak, Founder & CEO

106 PAYMENTS Leading Mobile Point-of-Sale Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Operating KPIs • Marc has extensive experience in the startup world • Prior to co-founding SumUp, Marc founded online Headquarters London, United Kingdom New Businesses Joining per Day 3,000+ fashion gallery MIOSATO - and was a leading member Founded 2011 of the Groupon sales team Key Financials

• Marc began his career in investment banking at Employees 100-1,000 Revenues 2017 (€m) 100 – 1,000 European Investors in New York before becoming Vice President at JPMorgan in London and Frankfurt Active Markets Global Traffic Apr-17 Apr-18 • During his time with Sumup, Marc has secured more Ownership Private - VCs than 100 million EUR in funding and he also led the Unique Users 0.1m 0.6m acquisition of Payleven American Express, Marc-Alexander Key Investors BBVA, Groupon, Holtzbrinck Visits 0.4m 1.6m Christ • Marc holds a MA in International Business as well as a Ventures Doctorandus de Bedrijfswetenschappen from the Funding $44m Minutes 03:50 04:35 Co-Founder University of Maastricht Mobile: 45% Mobile: 56% NOAH Content SumUp at NOAH Sessions Desktop: 55% Desktop: 44% Apr 2018 Direct: 37%, Search: 8%, Website sumup.com Sources Referrals: 45%, Other: 10%

COMPANY PROFILE SUMUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • SumUp is a leading financial technology company that is set to become the first ever global card acceptance brand N/A Service Providers Interest • The company enables businesses to accept card payments in-store, in-app and Mobile Commerce Solutions online in a simple, secure and cost-effective way. SumUp is the only company to offer an end-to-end EMV card acceptance solution built on proprietary hardware and mobile apps with a full suite of SDKs and APIs for third parties to Partnerships Interest integrate card payments into their mobile apps Payment Providers and Services • The SumUp product suite also provides each business with a Virtual Terminal and SumUp’s state-of-the-art SMS (text message) payment application. This M&A Interest Attendees @ NOAH unique offering enabled SumUp to rapidly expand into 31 markets, including the Solutions in the small merchant space and U.S., Brazil and the United Kingdom the wider payment space Marc-Alexander Christ, Co-Founder Thomas Adamski, Comms Manager Key Hires Interest Head of Business Development, Head of PR and Communications

107 INDUSTRIALS & IOT Intelligent Home Climate Management Solutions

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Before joining tado°, Toon Bouten previously served as Vice President of Philips Electronics NV, where he Headquarters Munich, Germany Unique Users 0.2m 0.1m led the European Consumer Division Founded 2011 Visits 0.6m 0.4m • As VP of Compaq Computers he started the Compaq Consumer Division in EMEA and reached the number Employees 100-1,000 Minutes 01:23 02:18 one market position in Europe Mobile: 70% Mobile: 49% Active Markets International Sessions • In early 2000, he took over the CEO position from the Desktop: 30% Desktop: 51% founder of Jobline AB. Apr 2018 Direct: 64%, Search: 29%, Ownership Private - VCs • Toon was also CEO of Tomorrow Focus Sources Referrals: 2%, Other: 5% Target Partners, Shortcut, Toon Bouten • More recently served as President and CEO of GN Key Investors Siemens, BayBG, Statkraft, Store Nord and GN Netcom, the Danish headset Inven Capital CEO maker where he successfully redesigned its value Funding €50m chain and transitioned it to a scalable and well- positioned leader in the headset industry NOAH Content tado° at NOAH

Website tado.com

COMPANY PROFILE TADO° @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in Munich 2011, tado° is the European market leader in intelligent home climate management solutions. With its Smart Thermostats for heating N/A Service Providers Interest and the Smart AC Control for cooling, tado° reshapes the way energy is consumed at home Offline Services – Fund Raising Advisory • The tado° Smart Climate Assistant app uses features like Geofencing and Weather Adaption to save up to 31% of your heating costs, while enhancing Partnerships Interest comfort Business partnerships to scale our business • Having raised €50m in venture funding and currently employing almost 200 people, tado° is active across Europe and the US Attendees @ NOAH

Toon Bouten, CEO

108 DIGITAL & TMT Leading Swiss Media Group

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Christoph Brand is a member of the group management board and head of the classifieds & Headquarters Zurich, Switzerland Market Cap €1.4bn marketplaces division at Tamedia AG

• In this role, he is also chairman or member of the Founded 1893 2017 2018E Growth board of a number of companies held partially or fully by Tamedia, such as Homegate, Jobs.ch, Ricardo.ch Employees 3,400 Revenues €m 796 865 9% and others. Before that, he was CEO and shareholder of Adcubum AG. From 2006 to 2010, he was CEO of Sunrise Communications, which he turned around to Active Markets Global EBITDA €m 193 195 1% make it the fastest-growing operator in Switzerland in Christoph Brand terms of revenue and profitability. Before that, he was Ownership Public (SWX) Margin % 24% 23% - chief strategy officer of Swisscom Company Click here to download EV/Revenue 1.8x 1.7x (8%) Head of the • Christoph also held various board positions in the ICT Presentation Classifieds & environment Marketplaces • He is married and father to two sons NOAH Content Tamedia at NOAH EV/EBITDA 7.6x 7.5x (1%) Division Website tamedia.ch

COMPANY PROFILE TAMEDIA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Tamedia is the leading private media group in Switzerland. The digital platforms, daily and weekly newspapers and magazines of Tamedia offer overview, 1. Why our founders had hipster beards in Service Providers Interest classification and selection 1893 and how we're still innovating 125 Customer Service Platform, Mobile years later • The company was founded in 1893 and employs a staff of approximately 3,400 Commerce Solutions, Platforms in Switzerland, Austria, Denmark, France, Germany, Israel, Luxembourg and 2. How we grow based on the fact that 4 Serbia out of 5 Swiss people use our services M&A Interest and our financial power • It has been traded at the Swiss stock exchange since 2000 Actively looking to invest in or acquire 3. Why you do not only meet us in companies in the areas of Classifieds and Switzerland (even if its worth a visit) Marketplaces, or anything relevant for our current portfolio companies

Attendees @ NOAH Partnerships Interest Commercial Partnerships or Joint Ventures Christoph Brand, Head of the Classifieds & Marketplaces Division

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 109 INVESTORS International Venture Capital Firm

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • Yaron Valler serves as General Partner at Target Global Headquarters Berlin, Germany • He has over fifteen years of experience in IT and venture capital, having built and invested in emerging Founded 2012 technologies, bringing them to global markets. Throughout his career, Yaron was involved in the creation of over twenty startup companies, initially as Funds Raised $533m an engineer and later as an entrepreneur and investor. Having experienced full product and company life cycles with successful and unsuccessful phases, Employees 11-25 Yaron Valler Yaron assists in identifying, avoiding and dealing with the pitfalls faced by portfolio companies Active Markets Global General Partner • A true geek, Yaron adores technology. Yaron holds an MBA from INSEAD in France and a B.Sc. in NOAH Content Target Global at NOAH information systems engineering from Ben-Gurion University in Israel. He also serves as a Board Member at Diablo Technologies. He serves as Website targetglobal.vc Chairman of Board at OpenSynergy

INVESTOR PROFILE TARGET GLOBAL @ NOAH

Doing Business @ NOAH Main Presentation Topics • Target Global is an international VC firm with over $450 million in assets under management and offices in Berlin, Moscow, Tel-Aviv and San Francisco. We Fireside chat with and Present your business proposal through invest in fast-growing digital-enabled businesses operating in B2C and B2 SMB NOAH Connect app markets • Target’s growth fund invests in Series B and later stage companies (both primary and secondary), with an investment range of $5-30m. Target’s seed stage fund invests in late seed and early Series A rounds, with an investment range of $200-500k • Since 2012 Target Global has invested in more than 40 leading companies Attendees @ NOAH including Delivery Hero, Blue Apron, Dreamlines, Prosper, VATBox, WeFox and Auto1 Group Yaron Valler, General Partner

110 TRANSPORTATION & MOBILITY One of Europe’s Leading Ride-sharing Platform

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Markus Villig is the founder and CEO of Taxify, one of Europe’s leading ride-sharing platforms. He teamed up Headquarters Tallinn, Estonia Unique Users 0.2m 0.5m with his brother Martin, ex-Skype, to build the first version of Taxify in 2013 when he was 19 years old. Markus has been featured as the youngest tech CEO Founded 2013 Visits 0.6m 1.1m in Forbes Europe 30 under 30 list and has been awarded E&Y Entrepreneur of the Year in Estonia Employees 100-1,000 Minutes 04:02 04:19 • Markus launched Taxify with 50 drivers whom he had personally recruited – and it was a hit. After a huge Mobile: 82% Mobile: 74% Active Markets International Sessions rush of downloads in the first weeks, he teamed up Desktop: 18% Desktop: 26% Markus Villig with his brother Martin and technical co-founder Oliver Leisalu to build the next version Apr 2018 Direct: 31%, Search: 50%, Ownership Private – VCs Co-Founder & Sources Referrals: 3%, Other: 16% CEO Key Investors Didi Chuxing

Website taxify.eu

COMPANY PROFILE TAXIFY @ NOAH

Doing Business @ NOAH Main Presentation Topics • Taxify is one of Europe’s leading ride-sharing platforms, connecting millions of riders and drivers around the world to make travel easier, quicker and more N/A Service Providers Interest reliable. Taxify’s efficient and tech-enabled business model benefits both drivers who have to pay a smaller commission as well as riders who end up paying less Marketing for their ride • Founded by Markus Villig, Taxify launched in 2013. It’s one of the fastest- growing ride-sharing platforms in the world, focusing on Europe and Africa. Taxify is working towards a future where anyone in need for a ride should not have to wait more than just a couple of minutes to get a car, anywhere in a city Attendees @ NOAH • Taxify has more than 5 million customers in over 20 countries globally Markus Villig, Co-Founder & CEO • Strong presence within Europe (especially CEE markets) as well as expanding into Africa and Australia Market Unt, Head of Global PR

111 B2B & SOFTWARE Global Software Provider for IoT, Connectivity, Monitoring, Support and Team Collaboration

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Financials • Oliver has been CEO of TeamViewer since January 2018. He is an internationally experienced manager Headquarters Goeppingen, Germany EBITDA Profitable with a proven track record in building and successfully Founded 2005 leading tech champions Traffic Apr-17 Apr-18 • Prior to joining TeamViewer, Oliver was Partner at the Employees 100-1,000 Unique Users 15.1m 16.9m private equity firm Permira. There he built up and Active Markets Global headed the Portfolio Group, which works with global Visits 25.4m 27.5m deal teams across all sectors on delivering value Ownership Private - VCs creation plans for Permira funds’ portfolio companies. Minutes 03:01 02:43 Key Investors Permira Oliver served as CEO of Sunrise Communications and Mobile: 22% Mobile: 23% Sessions Oliver Steil as CEO of Debitel (freenet AG), a leading mobile NOAH Content TeamViewer at NOAH Desktop: 78% Desktop: 77% service provider in Germany. He started his career at Apr 2018 Direct: 41%, Search: 48%, CEO McKinsey where he became a Partner focusing on the Website teamviewer.com Sources Referrals: 3%, Other: 8% telecommunications and technology sector. Key Operational KPIs • Oliver holds a master’s degree in Electrical Engineering from the Ruhr-University Bochum, Activated IDs 1.6bn+ Germany Connected devices every second 30m+

COMPANY PROFILE TEAMVIEWER @ NOAH

Doing Business @ NOAH Main Presentation Topics • TeamViewer is a leading global software provider for IoT, connectivity, monitoring, support and team collaboration 1. TeamViewer’s global growth story Present your business proposal through • Established 2005 in Goeppingen, TeamViewer is the third largest German NOAH Connect app 2. Conquering the Enterprise SaaS world software company and continues to grow dynamically out of Goeppingen 3. Plug-and-play IoT by TeamViewer • The company’s flagship product has been activated on more than 1.6 billion devices, of which at least 30 million are connected to TeamViewer at any point in time • TeamViewer employs about 700 people in more than 60 countries around the world Attendees @ NOAH Oliver Steil, CEO

112 TELECOMMUNICATIONS Diversified Telecommunications Group

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Gonzalo Martín-Villa is a Chief Innovation Officer at Telefonica. Global innovation responsibility for all the Headquarters Madrid, Spain Market Cap €42.4bn Telefonica Group, including Product Innovation, Personal Comms (Tuenti and TuGo products), Tokbox Founded 1924 and Telefónica Educación Digital Employees 127,000+ 2017 2018E Growth • Digital senior executive in large public company, with broad international experience across all functions of Active Markets Global Revenues €m 52,068 50,736 (3%) business. Corporate disruptor, passionate for Ownership Public (BME) EBITDA €m 16,441 16,290 (1%) technology, creator of digital businesses and public speaker Key Shareholders BBVA, CaixaBank, BlackRock Margin % 32% 32% - Investor Gonzalo Martín- • Convinced that exponential organizations will be the Click here to download EV/Revenue 1.9x 2.0x 3% Villa ones to capture the value that technology and digital Presentation businesses create Website telefonica.com EV/EBITDA 6.1x 6.1x 1% Chief Innovation • Nominated by Wired Magazine as one of the 100 Top Key Operating KPIs Officer Digital Influencers in Europe 2014 (The Wired 100) Final Client Accesses 339.0m

Wholesale Accesses 4.4m

COMPANY PROFILE TELEFÓNICA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Telefónica is a company that is aware of the new challenges posed by today’s society. This is why we offer the means to facilitate communication between Fireside chat with Present your business proposal through people, providing them with the most secure and state of the art technology in NOAH Connect app order for them to live better, and for them to achieve whatever they resolve • An innovative and attentive spirit with an immense technological potential that multiplies the ability to choose of its more than 346 million clients in 21 countries and an average of 127,000 professionals • In January-December 2017 Telefónica had consolidated revenues of 52,008 million euros and more than 343.4 million total accesses, 271.7 million mobile Attendees @ NOAH phones accesses, 21.4 million Internet and data accesses and 8.5 million pay TV accesses Gonzalo Martín-Villa, Chief Innovation Officer • Telefónica is a 100% listed company with more than 1.3 million shareholders, traded in several of the most important stock markets around the world

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 113 FINTECH Debit Card Payment System for Cryptocurrencies

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • After his successful career as a professional kitesurfer (ranking among top 10 in the world) and later as a Headquarters Singapore, Singapore Unique Users 6k 100k trauma surgeon, Julian became a serial entrepreneur, bestselling author and keynote-speaker Founded 2015 Visits 14k 224k • He co-founded the Singapore based FinTech company TenX, which has developed a technology Employees 11-25 Minutes 03:17 02:27 that makes cryptocurrencies spendable anytime anywhere and has raised USD $80 million in its initial Mobile: 0% Mobile: 33% Active Markets Global Sessions token sale in June 2017 Desktop: 100% Desktop: 64% • Julian was named one of the top Blockchain and Apr 2018 Direct: 33%, Search: 34%, Ownership Private Dr. Julian Hosp Cryptocurrency experts. He is a frequently invited Sources Referrals: 20%, Other: 13% speaker at global Tech/FinTech events as well as a Co-Founder & regular commentator in the media on current Funding $80m (Initial Coin Offering) President blockchain trends, the future of cryptocurrency and best ICO practices NOAH Content TenX at NOAH

Website tenx.tech

COMPANY PROFILE TENX @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in Singapore in 2015, TenX is the only company worldwide that makes multiple digital currencies spendable anytime anywhere by offering a debit card N/A Present your business proposal through payment system to its users. It has raised $80 million in its initial token sale and NOAH Connect app made it to the top 5 Singapore’s best funded startups in 2017 • The user can spend any of the funds through the TenX debit card, which can be used in almost 200 countries at over 36 million points of acceptance online and offline • In order to offer the widest range of cryptocurrencies, TenX is working on the Cryptographically-secure Off-chain Multi-asset Instant Transaction network Attendees @ NOAH (COMIT) to connect all the blockchains Dr. Julian Hosp, Co-Founder & President

114 B2B & SOFTWARE AI Platform Transforming Real-time Location Data

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Operational KPIs • Greg Skibiski is a thought leader in the field of mobile location and sensor data technologies. He focuses on Headquarters New York, NY, US Public companies covered 500 innovating products and services that utilize big data to better understand human behavior • Prior to founding Thasos in 2011, Skibiski was the Founded 2011 Founder, CEO and Chairman of Sense Networks, Inc., a New York based company that uses machine Employees 26-50 learning technology to create actionable business insights from large quantities of mobile phone location and carrier call pattern data Active Markets International Greg Skibiski • Skibiski is the lead inventor on three patent applications: System and Method of Performing Ownership Private – Businses Angels Founder & CEO Location Analytics, Comparing Spatial-Temporal Trails in Location Analytics and Anomaly Detection in Sensor Analytics Key Investors Gary Bergstrom • Skibiski holds an MBA from HEC Paris, a BS in Civil Engineering from Bucknell University, and has studied Website thasos.com relationship psychology at the Orv Owens Institute

COMPANY PROFILE THASOS GROUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • Thasos is an artificial intelligence platform that transforms real-time locations from mobile phones into objective and actionable insights on the performance of 1. The emerging role of alternative data in Partnerships Interest businesses, markets, and economies globally, based on the largest repository of the financial services ecosystem Partnerships to bring Thasos data and high-quality location data after Google and Apple. 2. Real examples of usage of anonymized analytics into new vertical markets • For Institutional Investors: mobile phone geolocation data for trading and risk analysis • From topical research reports to API information feeds at the individual store or 3. Thasos partnership with Bloomberg factory level, we provide objective, real-time information for 500+ companies mapped to exchange-listed tickers in North America and Europe. • Reports and feeds cover aggregate customer visitation, employee hours Attendees @ NOAH worked, cohort lifetime value, and similar fundamental metrics for every industry Greg Skibiski, Founder & CEO in the Global Industry Classification Standard (GICS). • For Commercial Real Estate & Corporates: • We provide real-time information for competitive analysis, origin-destination analysis, and cohort lifetime value for any business, public or private

115 INDUSTRIALS & IOT Technology Driven Provider of Heat and Power

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Philipp, 42, is co-founder and CEO of Thermondo, Germany's market leader in the planning, financing Headquarters Berlin, Germany Unique Users 88k 78k and installation of heating system for residential homes. Thermondo employs more than 300 people Founded 2012 Visits 160k 137k across 50 cities in Germany Employees 100-1,000 • In 2017 Philipp was recognized as "Entrepreneur of Minutes 01:40 01:55 the Year 2017" by Ernst & Young Active Markets National Mobile: 69% Mobile: 60% • He began his career as Global Marketing Manager at Sessions adidas before moving on to management consulting Desktop: 131% Desktop: 40% Ownership Private – VCs and later founding Clean Venture, a boutique M&A Apr 2018 Direct: 22%, Search: 75%, Philipp A. advisory firm for distributed energy deals Sources Referrals: 2%, Other: 1% Key Investors Vorwerk, Holtzbrinck Ventures Pausder • Philipp is on the supervisory board of StartUpTeens, a non-profit initiative fostering entrepreneurial thinking Funding €63m Founder & among 14-19 year olds Managing • Philipp lives in Berlin with his wife and four children NOAH Content Thermondo at NOAH Director Website thermondo.de

COMPANY PROFILE THERMONDO @ NOAH

Doing Business @ NOAH Main Presentation Topics • Thermondo has digitized the process of heating exchange from lead generation through sales and installation to after-sales Fireside chat with Present your business proposal through • Thermondo sells, plans, installs and services heating systems all over Germany NOAH Connect app • Our go-to-market strategy is entirely online driven and we excite our customers through our outstanding advice, our speed, our simplicity and our competitive prices

Attendees @ NOAH

Philipp A. Pausder, Founder & MD

116 NOAH LONDON 2017 TOP STARTUPS Online Platform for Freelance Marketing Talent 1

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Alice is a talent expert and entrepreneur with over 15 years of experience helping fast-growth businesses Headquarters London, UK Unique Users <5k <5k and brands build c-suite, advisory and leadership teams globally. She is the founder and CEO of two talent acquisition companies: Hanson Search, an Founded 2015 Visits <5k <5k international search consultancy and The Work Crowd, an online platform that connects businesses with expert marketing talent across the UK and Europe Employees 4-10 Minutes 01:25 01:27

• Passionate about improving standards in our industry, Mobile: 25% Mobile: 21% Active Markets International Sessions Alice a member of the REC and 30% Club. She is a Desktop: 75% Desktop: 79% Alice respected voice in the marketing, communications, and tech industries and is often asked to comment in Apr 2018 Direct: 38%, Search: 21%, Ownership Private – Business Angels Weightman publications and speak at industry events. Sources Email: 38%, Other: 3% Co-Founder & • In addition to pitching at Web Summit in 2015, Alice NOAH Content The Work Crowd at NOAH CEO was awarded Entrepreneur of the Year at the 2016 FSB London Business Awards for the success of The Work Crowd and overall winner of NOAH Conference Website theworkcrowd.com 2017

COMPANY PROFILE THE WORK CROWD @ NOAH

Doing Business @ NOAH Main Presentation Topics • The Work Crowd is the leading platform for freelance marketing talent across the UK and Europe, with global ambitions. We connect businesses with expert 1. The Work Crowd - overview of the Service Provider Interest PR and marketing support by intelligently matching them to vetted marketing product Ecommerce Services professionals in a fast and cost-effective way. Using The Work Crowd, 2. The Work Crowd - overview of history businesses can quickly and easily build and manage their freelance talent and evolution of product pipelines, saving them substantial costs, resources, and time Partnerships Interest 3. The Work Crowd - future plans • In addition to instantly matching businesses with the best available, pre-vetted Investors / Companies looking to hire freelance experts, our real-time mobile marketplace allows collaboration, project planning, and seamless payments. This brings increased efficiency, a reduction Attendees @ NOAH in acquisition costs, and increased business productivity as businesses can hire faster, acquiring flexible specialist skills and local expertise to meet the needs of Alice Weightman, Co-Founder & CEO a global market. In short, finding and managing your freelance workforce will be smarter, faster, and more effective than ever before

117 HEALTHCARE, SCIENCE & EDUCATION Trusted Online Source of Medical Professionals

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Financials • Alberto established Top Doctors in 2012 with Lorena Bassas. He is the CEO and brings more than 20 years Headquarters Barcelona, Spain Revenues 2017 €1-10m of experience in the pharmaceutical and healthcare industries to the role, including international senior Founded 2013 positions in various European countries and emerging Traffic Apr-17 Apr-18 markets. Previously, Alberto served as Director of Employees 100-1,000 Unique Users 0.2m 0.5m Corporate Accounts for Allergan and Commercial Director of Italy and Director of Key Accounts for EMA Active Markets International for Johnson & Johnson Visits 0.4m 0.7m

• Alberto received an Executive MBA from the IE Ownership Private – VCs Minutes 02:10 02:35 Alberto Porciani Business School in Madrid and a graduate degree Cum Laude in Economics at the Turin University of Alberto E. Porciani; Lorena Mobile: 68% Mobile: 73% Bassas; Castle & Connolly - Sessions Economics. He also holds postgraduate training in Key Investors Desktop: 32% Desktop: 27% Founder & CEO America’s Top Doctors and strategic marketing, sales and management from Addventure Apr 2018 Direct: 8%, Search: 89%, prestigious institutions including INSEAD Business Sources Referrals: 2%, Other: 1% School and IESE Business School, the graduate Funding €4m business school of the University of Navarra Website topdoctors.es

COMPANY PROFILE TOP DOCTORS @ NOAH

Doing Business @ NOAH Main Presentation Topics • Thanks to our rigorous, unique process of identifying the very best specialists and clinics, we now have a selection of over 60,000 of the world’s best 1. Disruptive digitalization of healthcare Service Provider Interest specialists in private healthcare with patient centric Ecommerce Services • At Top Doctors we are aware of the importance of getting it right in such a 2. The value of quality in healthcare Offline Services hyper-specialised sector. We are at the patient's side from start to finish, helping 3. Telemedicine introduction in specialist them to connect with their ideal specialist through state-of-the-art technology. Communications & Marketing space For doctors, we offer technological solutions so that they can connect with their Analytics & Digital Services patients easily and efficiently - a hub which will gradually incorporate different portable medical devices, wearables that will make their work easier, and allow M&A Interest Attendees @ NOAH for ease in the diagnosis and monitoring of patients Medical tourism platforms, medical second • We are already established in 7 countries (Spain, Italy, the United Kingdom, opinion platforms, medical devices for Alberto Porciani, Founder & CEO Mexico, Chile, Colombia and USA), and more than 20 million patients ask us telemedicine Lorena Basas what doctor they should go to for each case Xavier Mercadé, Director General, Europe • Through Top Doctors, we answer these consultations offering a medical team of Key Hires Interest more than 60,000 professionals of all specialities worldwide. The Top Doctors CFO, CFO Europe, HRM Europe services available for free on Android and iOS devices

118 B2B & SOFTWARE Customer Review Platform

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Peter Mühlmann founded Trustpilot in 2007 and has been the main driver behind the company’s continued Headquarters Copenhagen, Denmark Unique Users 9.2m 14.4m global expansion, building the biggest online review company for e-commerce Founded 2007 Visits 15.3m 20.8m • Over the last ten years, 35-year-old Mühlmann has led Trustpilot from a small Danish startup to an Employees 100-1,000 Minutes 01:53 01:54 international, multi million-dollar company with more than 600 employees spanning seven offices and six Mobile: 41% Mobile: 48% Sessions different countries. Active Markets Global Desktop: 59% Desktop: 52% • He holds a bachelor’s degree from Aarhus University Apr 2018 Direct: 37%, Search: 53%, Ownership Private – VCs Peter Mühlmann School of Business, and after founding Trustpilot, he Sources Referrals: 5%, Other: 5% decided to focus on the company SVB, Draper Esprit, Vitruvian Founder & CEO Key Investors • In 2013, Peter Mühlmann was named Danish Partners, Index Ventures Entrepreneur of the Year by EY. He lives in Copenhagen but spends a large portion of the year at Funding €110m Trustpilot’s offices outside of Denmark Website trustpilot.com

COMPANY PROFILE TRUSTPILOT @ NOAH

Doing Business @ NOAH Main Presentation Topics • Trustpilot is a customer review platform that help businesses impress, improve and innovate by engaging and collaborating with customers. We do it by giving 1. We live in the consumer era where Present your business proposal through millions of people an open, honest and free place to share and discover reviews influence has truly shifted from NOAH Connect app of businesses. And by giving businesses the knowledge, tools and technology businesses to consumers to turn what consumers say into tangible business results. We believe that if 2. The people-powered era mean that a everyone helps each other build a world bursting with endlessly improving brand is defined by consumer customer experiences, then we’re all working to make the future a brighter place experiences and feedback and only truly • With more than 40 million reviews of 200,000 businesses from a variety of open and collaborative businesses can industries worldwide, Trustpilot is quickly becoming the world’s leading survive and succeed independent review site 3. Trustpilot is an open to all review platform that creates ever-improving • With offices in Copenhagen, London, New York, Denver, Berlin, Melbourne and experiences for everyone and help Vilnius, Trustpilot's 600 employees represent more than 40 different nationalities businesses innovate and grow

Attendees @ NOAH

Peter Mühlmann, Founder & CEO

119 TRANSPORTATION & MOBILITY Leading Ridesharing Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Dara Khosrowshahi is the CEO of Uber, where he manages the company’s fast-growing business in 65 Headquarters San Francisco, CA, US countries around the world and leads a global team of more than 18,000 employees Founded 2009 • Dara was previously CEO of Expedia, where he grew the company into one of the world’s largest online Employees 18,000+ travel companies. Dara was promoted to Expedia CEO after serving as the Chief Financial Officer of IAC Active Markets Global Travel. Before joining IAC, Dara served as VP of Allen & Company and spent a number of years as an Ownership Private – VCs Dara analyst. He currently serves on the Board of Directors of Expedia and was previously on the Board of the Key Investors SoftBank, Morgan Stanley, Saudi Arabia’s Public Investment Fund Khosrowshahi New York Times Company. He’s a passionate Funding $21.7bn CEO advocate for refugees in crisis around the world, having himself left Iran during the Iranian revolution at the age of nine NOAH Content Uber at NOAH • Dara received his bachelor’s degree in engineering Website uber.com from Brown University

COMPANY PROFILE UBER @ NOAH

Doing Business @ NOAH Main Presentation Topics • Uber was founded in 2009 to solve an important problem: how do you get a ride at the push of a button? Fireside chat with Christoph Keese Present your business proposal through • More than five billion trips later, we've started tackling even greater challenges: NOAH Connect app making transportation safer with self-driving cars, delivering food quickly and affordably with Uber Eats, and reducing congestion in cities by getting more people into fewer cars

Attendees @ NOAH

Dara Khosrowshahi, CEO

120 DIGITAL & TMT Esports Betting Company

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Rahul is the CEO and founder of Unikrn, a gaming and esports company based in Seattle, WA, US Headquarters Seattle, WA, US Unique Users 70k 935k • He was also the founder of luxury computer creator VoodooPC (est. 1991); Voodoo was acquired by Founded 2014 Visits 300k 457k Hewlett-Packard • Rahul spent 18 years as an entrepreneur before Employees 26-50 Minutes 02:21 01:03 joining Microsoft. At Microsoft, he worked with startups Mobile: 11% Mobile: 26% and entrepreneurs, and created and lead Microsoft Active Markets Global Sessions Ventures. He is also an investor and advisor at Vrvana Desktop: 89% Desktop: 74% and on the board of advisors for Razer Apr 2018 Direct: 24%, Search: 2%, Ownership Private Rahul Sood Sources Referrals: 71%, Other: 3% • He resigned from Microsoft in November 2014 to build Co-Founder & Unikrn, an esports company with offices in Berlin, Key Investors Mark Cuban, Binary Capital Seattle, Sydney and soon to be Las Vegas CEO • Unikrn is now the Planet's Best Bookmaker for Funding $41m Gamers Website unikrn.com

COMPANY PROFILE UNIKRN @ NOAH

Doing Business @ NOAH Main Presentation Topics • Unikrn is the worldwide leader in esports betting. You can bet legally, for free, anywhere in the world using Unikoins, our virtual tokens. We also offer real N/A Present your business proposal through money betting in the UK. Back your picks with Unikoins or real money and feel NOAH Connect app the rush when you watch the next big match • We own a network of gaming communities that reach millions of gamers in over 100 countries worldwide. We recently announced a global exclusive partnership with Tabcorp, a 5B+ betting company. Together we built a safe and fun arena for people to gather, game, and legally bet on eSports • Founded by Rahul Sood (creator of VoodooPC, and Microsoft Ventures), and Attendees @ NOAH Karl Flores (co-founder of Pinion) Rahul Sood, Co-Founder & CEO • Some of our partners include Razer, HP, Logitech, and Tabcorp

121 B2B & SOFTWARE Autonomy-as-a-Service with its AI-driven IoT SaaS Platform

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Kumardev is a highly regarded youthnnovation leader, top-tier ICT industry professional, European Commission appointed expert and New York Times Headquarters London, UK Unique Users 68k <5k published opinion leader. He has achieve all of thisby the age of 35

• Kumardev’s vision, opinions and views have been Founded 2015 Visits 309k <5k published by the New York Times, World Economic Forum, European Commission, European Business Summit, Microsoft and leading tech media across Europe. Kumardev is an Advisory Board member of Employees 11-50 Minutes 02:21 00:48 Kumardev the Journal of Innovation Management with Henry Chesbrough Chatterjee Mobile: 10% Mobile: 0% • Kumardev is also Founder and Chairman of the Active Markets Global Sessions Desktop: 90% Desktop: 100% Founder & CEO European Young Innovators Forum • Kumardev holds a MSc. in Computer Science from Apr 2018 University College London, as a British Chevening Website unmanned.life Direct: 50%, Search: 50% Science Scholar Sources

COMPANY PROFILE UNMANNED LIFE @ NOAH

Doing Business @ NOAH Main Presentation Topics • Unmanned Life has developed the world’s first AI-driven IoT platform to deploy and manage fleets of commercial drones and ground vehicles, both indoors and N/A Present your business proposal through outdoors, fully autonomously i.e. without human intervention or drone pilots. NOAH Connect app • Unmanned Life’s software platform extensions allows commercial drone fleets to be connected to the existing enterprise information management systems and AI platforms from vendors such as SAP, IBM, Microsoft or GE, thereby enabling a fully autonomous robot work force that enables the 4th Industrial Revolution, disrupting human labour intensive industries such as postal, shipping, logistics, oil and gas, surveillance, aid, et al. Attendees @ NOAH • Unmanned Life’s unique innovative platform is protected by 85 patent pending claims Kumardev Chatterjee, Founder & CEO • Unmanned Life is the ONLY drone company to be selected by the UK Government's Department of International Trade to present at Mobile World Congress 2017

122 PAYMENTS Premium Partner Global Financial Services Firm that Facilitates Electronic Payment Systems

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Paul J. Walsh is the SVP in the Global Products & Solutions team responsible for leading Visa’s open Headquarters San Francisco, CA, US Market Cap €240.6bn platform initiative that launched in 2016. In this role, Walsh oversees the platform that provides open Founded 1958 access to Visa technology, products and services and Employees 12,400+ 2017 2018E Growth allows developers at merchants, financial institutions, technology companies and startups to build unique Active Markets Global Revenues €m 15,694 17,674 13% commerce experiences. Ownership Public (NYSE) EBITDA €m 11,032 12,501 13% • Walsh joins Visa with over 20 years of technology Vanguard Group, BlackRock, Key Shareholders Margin % 70% 71% - experience, most recently as Co-Founder and Chief FMR, T.Rowe Price, State Street Paul J. Walsh Executive Officer of Omniscient Technology Group. At Omniscient Technology Group, Paul provided Annual Report Click here to download EV/Revenue 15.9x 14.1x (11%) Senior Vice leadership and guidance to Fortune 1000 companies Website visa.com EV/EBITDA 22.6x 19.9x (12%) President, Global enabling them to transform business and consumer experiences to become relationship-focused digital Key Operating KPIs Products & journeys powered by simple and innovative business Solutions processes and technology solutions Payments volume 2017 $7.3tn Total payments volume 2017 $10.2tn

COMPANY PROFILE VISA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Visa Inc. (NYSE: V) is the world’s leader in digital payments 1. Disruption through Innovation • Our mission is to connect the world through the most innovative, reliable and Present your business proposal through secure payment network - enabling individuals, businesses and economies to NOAH Connect app 2. Make Technology Invisible thrive. Our advanced global processing network, VisaNet, provides secure and 3. Embrace the Cognitive Age reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second • The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to Attendees @ NOAH digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce Paul J. Walsh, SVP, Visa Platform Strategy & Innovation • For more information, visit About Visa, visacorporate.tumblr.com and @VisaNews

All financial actual data and estimates provided by CapitaIQ, as of 06/05/2018. 123 TRANSPORTATION & MOBILITY Manned, Fully Electric and Safe VTOL

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Florian is the CEO of Volocopter • Following a degree in business engineering and a Headquarters Bruchsal, Germany Unique Users 30k 11k number of years as management consultant he was most recently responsible for the development of Founded 2011 Visits 75k 23k technologystart-ups as Venture Manager in central research with Siemens AG Munich Employees 51-100 Minutes 00:30 02:35

• He now applies his many years of experience in the Mobile: 57% Mobile: 28% Active Markets Global Sessions strategic positioning of High-Tech innovations within Desktop: 43% Desktop: 72% Private – Businses Angels and international markets to Volocopter GmbH Ownership Apr 2018 Direct: 25%, Search: 60%, Corporate Investors Sources Referrals: 9%, Other: 6% Florian Reuter • Diverse work experience in Asia (Singapore, Japan, China), Europe (Germany, UK, Spain, France) and the Key Investors Daimler, Intel, Lukasz Gadowski CEO US Funding €31m • Passionate about turning powerful ideas into reality - and successful in it. Best when working in a high- performing team, contributing strong leadership, NOAH Content Volocopter at NOAH technical, analytical and cognitive skills Website volocopter.com/en/

COMPANY PROFILE VOLOCOPTER @ NOAH

Doing Business @ NOAH Main Presentation Topics • Volocopter is the global leader in the development of electrical vertical take-off and landing multicopters (eVTOL) as autonomous air taxis for the safe transport 1. Autonomous Air Taxis - a global market Present your business proposal through of people. The technical platform is extremely flexible and permits piloted, NOAH Connect app 2. From Air Taxi to Full Megacity Air Taxi remote controlled, and fully autonomous flight. In addition, the unique design infrastructure offers unprecedented degrees of safety based on the high level of redundancy 3. Mobility in the third dimension in all critical components • As early as 2011 the company earned its entry into the history of aviation through the manned flight of the world’s first purely electrical multicopter. Since then the young enterprise has set new milestones: In 2016 Volocopter was Attendees @ NOAH granted provisional licensing for a two-seater Volocopter by the German aviation authority and in 2017 the aviation start-up showcased the first ever autonomous Florian Reuter, CEO flight of an air taxi in cooperation with RTA Dubai. In the meantime, the founders Stephan Wolf and Alexander Zosel have gathered a team of experienced Rene Griemens, CFO managers like CEO Florian Reuter and CTO Jan-Hendrik. This paved the way for the further expansion of the company. Daimler, Intel and Lukasz Gadowski Helena Treeck, PR are among the investors in the company Michael Hillermeier, Assistant to CEO

124 INVESTORS Telefonica Open Future’s Start-up Accelerator

SPEAKER PROFILE KEY INVESTOR FACTS

Key Corporate Facts Key Portfolio Companies • As the Managing Director Christian accounts the strategic orientaton of Wayra, the selection and assistance of the start-ups and young technology Headquarters Munich, Germany corporations such as the increased integration of Wayra within the international start-up ecosystem • During his career in the start-up and venture-capital- Founded 2012 scene, Christian Lindener got to know thousands of start-ups

• He cofounded two companies, one being a hardware Employees 4-10 startup which went insolvent in 2013 and the other one Christian being an augmented reality startup exited to Lindener booking.com in 2014. Active Markets Global • Christan Lindener was born in Brasil and grew up in CEO Wayra Mexico. He studied international business Deutschland administraton and economics at the Leopold-Franzens- University in Innsbruck, the university of New Orleans Website de.wayra.co and at the Universitat de Barcelona

INVESTOR PROFILE WAYRA @ NOAH

Doing Business @ NOAH Main Presentation Topics • We are a global team of tech lovers and startups enthusiasts always looking for new opportunities for our customers, teams and our business. We seek and find Fireside chat with Present your business proposal through ideas that have the riskiness and ambition of a shifting digital world and turn NOAH Connect app them into proven technologies that create a real impact. • Wayra supports your startup with the right tools to break through the growth ceiling and executes to get things done. • Giving you access to over 350m clients landing your technology into one of the top telcos in the world. • Therefore we leave the ephemeral promises behind and we put the spot on your Attendees @ NOAH business. Because it’s you who will transform the game, it’s you who will Christian Lindener, CEO Wayra enhance people’s future lives Deutschland

125 FINTECH Service Platform for Insurance

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Key Financials • A passionate founder influenced by his entrepreneurial father from a very young age Headquarters Zurich, Switzerland Revenues 2016 €1-10m • After completing his studies at the University of St. Founded 2014 Gallen in Switzerland, he moved to London where he Traffic Apr-17 played a leading role in building the fastest growing Employees 100-1,000 company of all time – Groupon Unique Users 44k

• In 2014 he founded FinanceFox (currently wefox). Active Markets International Visits 58k wefox is an insurance platform, which achieved the largest investment round in the insurtech sector in Ownership Private – VCs Minutes 02:04 2016 Mobile: 70% Julian Teicke Horizons, Target Global, Sessions • In September this year, the launch of ONE will follow. Key Investors Salesforce, IDinvest, Desktop: 30% Group CEO ONE will be the first 100% digital European insurance SpeedInvest company. Julian’s vision for wefox and ONE is to revolutionise the insurance experience all over the Funding €50m+ world NOAH Content wefox at NOAH

Website wefox.de

COMPANY PROFILE WEFOX GROUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • wefox is the largest Insurtech in Europe and was founded in Switzerland in November 2014. It successfully operates across Germany, Austria and Fireside chat with and Present your business proposal through Switzerland NOAH Connect app • wefox is customer centric and works with an ecosystem of key brokers and insurance companies to meet customer needs of trust and simplification • By combining the most advanced technology with traditional insurance consulting know-how, wefox has already managed to acquire more than 150,000 customers and more than 600 insurance brokers • In October 2017 wefox will launch ONE, the first fully digital European insurance company Attendees @ NOAH

Julian Teicke, CEO

126 DIGITAL & TMT Leading Mobile Games Developer

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Traffic Apr-17 Apr-18 • Jens founded Wooga in 2009. The company became one of the most popular mobile games developers in Headquarters Berlin, Germany Unique Users 101k 57k the world and is responsible for hit games like Jelly Splash, Pearl’s Peril and Diamond Dash Founded 2009 Visits 248k 139k • Its most recent hit game June’s Journey, a story- Employees 100-1,000 Minutes 00:48 01:43 driven hidden object game was released in 2017. Jens is enthusiastic about people, play and technology. Mobile: 55% Mobile: 56% Active Markets Global Sessions Leading a talented team to develop quality games Desktop: 45% Desktop: 44% Apr 2018 Direct: 33%, Search: 25%, fulfills one of his lifelong ambitions Ownership Private – VCs Sources Social: 37%, Other: 5% • Before founding Wooga, Jens served as Chief Product Jens Begemann Balderton, Highland Capital, Officer & Member of the Management Board at Jamba Key Investors Holtzbrink Ventures, Tenaya (Jamster), where he contributed to the company Capital Founder & CEO becoming a world leader in mobile entertainment products Funding €20m

NOAH Content Wooga at NOAH

Website wooga.com

COMPANY PROFILE WOOGA @ NOAH

Doing Business @ NOAH Main Presentation Topics • Founded in 2009, Wooga has become one of the most popular developers of casual mobile games in the world Panel discussion with and Present your business proposal through • Based in Berlin, employees from around the world develop high quality casual NOAH Connect app games with engaging stories at the core of the experience • Wooga’s aim is to play a memorable and positive part in people’s lives and create joyful moments they look forward to playing everyday

Attendees @ NOAH

Jens Begeman, Founder & CEO

127 FINTECH Digital Pension Management Solutions

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts • Malte has 10 years of industry experience

• He is a CFO at xbAV since 2017 Headquarters Munich, Germany • Previously Malte spent 8 years at Goldman Sachs in pension advisory, corporate finance and technology M&A Founded 2007 • Holds BA and MA from University of Oxford with focus on finance and statistics Employees 110

Malte Dummel Active Markets National CFO Ownership Private

Website xbav.de

COMPANY PROFILE XBAV @ NOAH

Doing Business @ NOAH Main Presentation Topics • xbAV AG ('Xpension' in English) is the leading provider of digital pension management solutions in Germany. Operating as a SaaS business, the xbAV 1. Introduction to xbAV and its products Present your business proposal through platform addresses the distinct painpoints of insurers, companies, insurance NOAH Connect app 2. Dynamics in pensions market agents and consumers: 3. Expansion plans o Efficient, fully-digital pension management fronted for corporates and insurers o Consumer-friendly, fully-digital pension advisory and policy sales process for agents o Management of own policies for consumers, and sector-wide auto-enrolment Attendees @ NOAH for social partners from 2019 Malte Dummel, CFO • xbAV is headquartered in Munich with additional offices in Berlin and Saarbrücken • As of May 2018, xbAV had 110 employees

128 FINTECH Multi-line Insurance Provider

SPEAKER PROFILE KEY COMPANY FACTS

Key Corporate Facts Valuation Data and Key Financials • Giovanni Giuliani is Chief Strategy, Innovation and Business Development Officer at Zurich Insurance Headquarters Zurich, Switzerland Market Cap €39.9bn • His current responsibilities include Business Development & New Ventures, Group Marketing Founded 1872 Office, Chief Customer & Digital Office, Zurich Digital 2017 2018E Growth Factory, Global Partnerships & Affinities, Direct to Consumers business and Connected Insurance (IoT, Employees 53,000 Revenues €m 40,359 40,471 0.3% Telematics, Domotics, Wearables) • Prior to Zurich, he worked at Generali and prior to that Active Markets Global EBITDA €m 4,407 5,105 16% he was a Senior Partner at McKinsey & Company Giovanni • Hi graduated from Master of Engineering (M.Eng.) at Giuliani University of Pisa and holds MBA title from INSEAD Ownership Public (VTX) Margin % 11% 13% -

Chief Strategy, Investor Click here to download EV/Revenue 1.1x 1.1x (0%) Innovation and Presentation BD Officer Website zurich.com EV/EBITDA 10.3x 8.9x (14%)

COMPANY PROFILE ZURICH INSURANCE GROUP @ NOAH

Doing Business @ NOAH Main Presentation Topics • Zurich is a leading multi-line insurer that serves its customers in global and local markets. With about 53,000 employees, it provides a wide range of property and N/A Present your business proposal through casualty, and life insurance products and services in more than 210 countries NOAH Connect app and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations • The group operates in five regions: North America, Latin America, Europe, Middle-East and Africa, and Asia-Pacific. • The Zurich Insurance Group was founded in 1872 and is headquartered in Zurich, Switzerland Attendees @ NOAH

Giovanni Giuliani, Chief Strategy, Innovation and Business Development Officer

All financial actual data and estimates provided by CapitaIQ, as of 08/05/2018. 129 NOAH Infographic

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110+ speakers at NOAH18 Berlin main stage By invitation only 100 Firms on NOAH17 London Main Stage 640 companies presented since 2009 (37 digital 12,000+ unique attendees to date at NOAH [ ] Companies presented on Main Stage unicorns) Conferences Of which [ ] Unicorns 90 x 6-min pitches at NOAH Berlin Speakers are CEOs and founders 23,000 viewers watch the recordings or live CEOs and founders from emerging companies less OfIncluding: the top Adyen,100 Internet BlaBlaCar, Exits inCheck24, last 5 years Criteo, in Eu - streams rope by size, [%] passed through our stage than 4 years old Deliveroo, Delivey Hero, Farfetch, Gett, HelloFresh, Videos and presentations of all past conferences Live audience of 100 (Berlin) to 200 (London), video King.com, MoneySuperMarket, Scout24, Spotify, live stream and inclusion in NOAH media library Corporate champions attending regularly NOAH: Stripe, TransferWise, Trivago, UBER, WeWork, Credit Suisse, Daimler, Deutsche Bank, Digital Wix, Yandex, etc. 3 winners (online voting) present on main stage at McKinsey, eBay, Facebook, Google, ING, Naspers, next NOAH Porsche, Priceline, ProSiebenSat.1, TUI, etc. Unique track record of funding origination

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An introduction platform for the most relevant inves- Meeting spaces on site tors and companies ahead of NOAH London and Berlin: Over 9,000 messages and 7,000 meetings set up 12 meeting locations – easy to find, live and on Over 1,200 investor meetings requests about to at NOAH Berlin the floorplan get sent to 630 investors The app used by 75% of the conference attendees Meeting rooms bookable on demand 2,300 company meetings requests about to get NOAH Connect App Guide sent to 1,000 leading digital companies at all stages

630+ INVESTMENT FUNDS

1,000+ INTERNET COMPANIES OUR MOST COMPELLING SESSION

TRAVIS KALANICK DR. DIETER ZETSCHE Founder CEO

NOAH CONFERENCE 2017 HIGHLIGHTS TO WATCH

Are you Ready for Take Off? Investor Panel Whitney Wolfe, Bumble Sebastiaan Vaessen Dharmash Mistry, Lakestar Remo Gerber, Lilium EMK Capital, Insight Venture Andrey Andreev, Badoo Naspers Peter Smith, Blockchain Florian Reuter, Volocopter Partners, Target Global, iAngels

Online Food Delivery Panel Mobility Panel Glenn Fogel Christian Sewing John Collison Takeaway.com, JUST EAT, BlaBlaCar, Drivy, FlixBus, Priceline Group Deutsche Bank Stripe Delivery Hero, 10bis DriveNow, car2go, Gett NOAH IS A UNICORN BREEDING GROUND Challengers with a combined valuation of > $150bn and Champions with a combined market cap of > $2,800bn presented at NOAH since 2009

Speaking First Speaking First # of Times Segment Founded Raised Current Status # of Times Segment Founded Raised Current Status Company at NOAH Time ($m) Company at NOAH Time ($m) Challengers Challengers Adyen 11 2010 Payments 2006 266 Reached unicorn status Uber 1 2016 Taxi Apps 2009 11,562 Reached unicorn status AutoTrader 4 2010 Classifieds - Cars 1977 - $4.74bn market cap Waze 3 2011 Navigation & Parking 2007 67 Sold to Google for $1.1 Avast 1 2012 Cybersecurity & Anti-Virus 1988 100 Reached unicorn status WeWork 4 2015 Workspaces 2010 9,854 Valued at $20bn AVG 2 2009 Cybersecurity & Anti-Virus 1991 252 Sold to Avast for $1.3bn Wix.com 4 2012 Horizontal SaaS 2006 59 $3.07bn market cap after IPO Wooga 7 2011 Gaming 2009 32 Successful private company Babylon Health 2 2013 Health & MedTech 2013 85 Successful private company XING 9 2009 Content & Media 2003 7 $1.74bn market cap BlaBlaCar 7 2013 Rider Sharing & Car Pooling 2006 335 Reached unicorn status Yad2 6 2012 Classifieds - Horizontal 2005 - Sold to Axel Springer Careem 1 2017 Rider Sharing & Car Pooling 2012 571 Valued at $1.2bn for $228m CHECK24 2 2015 Lead Generation Services 1999 - Reached unicorn status Yandex 7 2012 Content & Media 2000 - $10.23bn market cap Cloudflare 2 2016 Cybersecurity & Anti-Virus 2009 182 Valued at $3.2bn Zooplus 1 2011 Vertical E-Commerce 1999 - $1.13bn market cap CTS Eventim 7 2012 Marketplaces 1999 - $4.11bn market cap Zalando 7 2011 Fashion E-Commerce 2008 468 $12.92bn market cap Criteo 8 2009 Display & Retargeting 2005 63 $2.89bn market cap Zendesk 4 2012 Horizontal SaaS 2007 86 $2.94bn market cap Deliveroo 1 2015 Meal Delivery 2013 860 Reached unicorn status Delivery Hero 9 2010 Meal Delivery 2011 2,581 $7.17bn market cap Total Capital Raised: $34bn Total Valuation: > $150bn Farfetch 2 2011 Fashion E-Commerce 2007 702 Reached unicorn status Fotolia 10 2009 Marketplaces 2005 225 Sold to Adobe for $800m Champions Gett 7 2012 Taxi Apps 2010 613 Reached unicorn status GetYourGuide 7 2013 Travel 2008 96 Successful private company Adidas 1 2016 Consumer Goods 1949 - $48.14bn market cap Immobiliare 3 2014 Travel 2005 - Successful private company AXA 3 2015 Insurance & Finance 1982 - $72.8bn market cap Ironsource 2 2012 Developer Tools 2009 105 Reached unicorn status Axel Springer 10 2010 Digital & Media 1946 - $7.17bn market cap iZettle 2 2013 Payments 2010 269 Successful private company Bayer 3 2015 Healthcare 1863 - $114.17bn market cap Just Eat 2 2014 Meal Delivery 2001 72 $6.16bn market cap Bertelsmann 9 2010 Digital & Media 1835 - Private company Klarna 4 2012 Payments 2005 637 Valued at $2.5bn BMW 3 2015 Automotive 1916 - $67.79bn market cap King.com 7 2010 Gaming 2003 84 Sold to EA for $5.9bn after IPO Daimler 3 2015 Automotive 1998 - $85.82bn market cap Kreditech 8 2010 Personal Loans 2012 497 Successful private company Deutsche Bahn 2 2015 Travel & Transportation 1994 - Government controlled company Markafoni 2 2012 Fashion E-Commerce 2008 8 Sold to Naspers for $200m Deutsche Börse 6 2012 Finance & Banking 1992 - $21.29bn market cap Momondo Group 5 2011 Travel 1996 152 Sold to Priceline Group eBay 11 2010 Digital & Media 1995 - $40.3bn market cap for $550m Facebook 12 2009 Digital & Media 2004 2.336 $498.65bn market cap MoneySuperMarket 3 2011 Lead Generation Services 1993 - $2.86bn market cap Google 10 2010 Digital & Media 1998 - $678.60bn market cap Photobox 3 2013 Marketplaces 2000 305 Sold to Exponent & Electra Huffington Post 4 2012 Digital & Media 2005 - Acquired by AOL for $615m IAC 1 2015 Digital & Media 1995 - $9.76bn market cap Privalia 5 2011 Fashion E-Commerce 2006 219 Sold to Vente-Privee for $560 innogy 6 2014 Industrials 2015 - $24.97bn market cap Scout24 9 2011 Marketplaces 1998 - $4.3bn market cap Klöckner & Co 3 2016 Industrials 1906 - $1.20bn market cap SeLoger 7 2010 Classifieds - Real Estate 1992 - Sold to Axel Springer for $847 Lufthansa 5 2015 Travel & Transportation 1953 - $13.64bn market cap Showroomprive 8 2010 Fashion E-Commerce 2006 44 $717m market cap METRO Group 6 2011 Consumer Goods 1996 - $7.33bn market cap Sigfox 2 2016 Internet of Things 2010 327 Valued at $708m Naspers 10 2010 Digital & Media 1915 - $103.4bn market cap SimilarWeb 5 2014 Analytics & Intelligence 2007 112 Successful private company Porsche 5 2015 Automotive 1931 - $9.88bn market cap Skrill 6 2009 Payments 2001 800 Sold to Optimal Payments Priceline Group 8 2011 Travel & Transportation 1997 - $94.18bn market cap for $1.98bn ProSiebenSat.1 Media 10 2010 Digital & Media 2000 - $8.16bn market cap Skyscanner 3 2012 Travel 2003 197 Sold to Ctrip for $1.7bn RTL 10 2009 Digital & Media 1931 - $11.74bn market cap Spotify 5 2009 Music 2006 2,563 Getting ready for $16bn Schibsted 7 2011 Digital & Media 1839 - $5.64bn market cap rumoured IPO Siemens 7 2013 Industrials 1847 - $127.19bn market cap Stripe 3 2015 Payments 2010 440 Valued at $9.2bn Tencent 1 2014 Digital & Media 1898 - $429.81bn market cap Taboola 2 2014 Content Advertising 2007 160 Reached unicorn status ThyssenKrupp 1 2017 Industrials 1999 - $17.00bn market cap tado° 6 2013 Internet of Things 2011 56 Successful private company TUI 1 2017 Travel & Transportation 1923 - $10.17bn market cap TeamViewer 4 2015 Communication & Collaboration 2005 - Sold to Permira for $1bn Vivendi 3 2012 Digital & Media 1853 - $32.50bn market cap TomTom 2 2015 Navigation & Parking 1991 - $2.55bn market cap VISA 1 2017 Insurance & Finance 1958 - $245.9bn market cap Trainline 3 2011 Travel 1997 - Sold to KKR for $681 WPP 5 2012 Advertising 1971 - $23.36bn market cap Transferwise 4 2011 Banking Fintech 2010 116 Reached unicorn status trivago 5 2011 Travel 2005 54 $3.17bn market cap Total Market Cap: $3tn

Unicorns Source: Unicorn definition actual reported data where available and NOAH estimates. THE TOP 80 DIGITAL EUROPEAN M&A DEALS BY SIZE IN THE LAST 7 YEARS We hosted on main stage 56% of the top 80 digital M&A Exits (€45bn combined EV) in Europe since the launch of NOAH Conference in Nov 2009

Adjusted EV Adjusted EV Date Acquiror Target Target Country Date Acquiror Target Target Country (€m) (€m) Jun 16 Tencent Supercell (84%) Finland 9,687 Sep 10 Schibsted LeBoncoin (remaining 50%) France 400 Aug 15 Paddy Power Betfair Group (merger) UK 6,824 Jan 14 Zynga NaturalMotion UK 388 May 11 Microsoft Skype Luxemburg 5,899 Oct 14 Publicis Matomy (24.9%) Israel 383 Nov 15 Activision Blizzard King.com UK 4,539 Jan 14 Google DeepMind United Kingdom 365 Mar 15 YOOX Net-a-Porter (merger) UK 3,120 Jan 13 Ingenico Ogone Belgium 360 Oct 16 Cinven, Permira, Mid Europa Allegro Poland 3,033 Feb 12 Ahold Bol.com Netherlands 350 May 17 Moody’s Bureau van Dijk Netherlands 3,000 Aug 14 Delivery Hero Pizza.de Germany 300 Oct 15 Naspers Avito (50.6%) Russia 2,152 Aug 15 Ströer InteractiveMedia Germany 300 Jan 14 Apax Partners Trader Media Group UK 2,126 Jul 10 Permira eDreams Spain 300 Nov 13 Hellman & Friedman Scout24 Germany 2,000 Sep 16 ProSiebenSat.1 Parship (51%) Germany 300 Sep 14 Microsoft Mojang Sweden 1,932 Mar 17 Altice Teads.tv France 300 Dec 16 Go Daddy Host Europe Group Germany 1,690 Apr 16 Rakuten Cabify Spain 283 Dec 16 Ctrip Skyscanner UK 1,622 Feb 13 Partners Group Softonic (30%) Spain 275 Sep 14 mail.ru Vkontakte (remaining 48%) Russia 1,598 Jun 15 Vivendi DailyMotion (80%) France 271 Jul 17 Ingenico Bambora Sweden 1,500 Mar 16 Shandong Hongda Mining Co. Jagex UK 270 Jul 16 AVAST Software AVG Technologies Netherlands 1,170 Jun 15 7Commerce Verivox (80%) Germany 262 Mar 15 Optimal Payments Skrill UK 1,100 Jul 14 KKR Scout24 Schweiz & Omnimedia (49%) Switzerland 262 Jan 17 Zhejiang Jinke Entertainment Outfit7 Slovenia 1,000 Apr 15 Zoopla uSwitch UK 260 May 14 Permira Teamviewer Germany 870 May 17 MTG InnoGames (30%) Germany 260 Jun 13 Google Waze Israel 863 Dec 14 eSure Gocompare (50%) UK 241 Sep 14 Access Industries Perform Group UK 858 Jan 11 Amazon LoveFilm UK 236 Jul 14 Ingenico GlobalCollect Netherlands 820 Feb 17 Take-Two Social Point Spain 234 Dec 12 Expedia trivago (61.6%) Germany 774 Feb 15 Tamedia Ricardo Switzerland 228 Feb 14 CVC Capital Partners Avast Software Czech Republic 738 May 12 NTT DOCOMO Buongiorno Italy 223 Jul 15 Deutsche Boerse 360T Germany 725 Aug 12 AXA Private Equity Bestsecret.com Germany 223 Feb 14 Rakuten Viber Cyprus 658 Aug 15 Adidas Runtastic Austria 220 Dec 14 Adobe Fotolia Europe 645 May 15 Recruit Holdings Wahanda (70%) UK 218 Sep 10 Axel Springer Verlag SeLoger (87.6%) France 634 Mar 15 Recruit Holdings Quandoo (92.9%) Germany 213 Feb 15 Rocket Internet HelloFresh (51.7%) Germany 623 Jun 12 Naspers Netretail (79%) Netherlands 213 Jan 15 KKR thetrainline.com UK 595 Apr 16 AccorHotels OneFineStay UK 212 May 15 Delivery Hero Yemek Sepeti (88.6%) Turkey 594 Dec 14 Host Europe Intergenia Germany 210 Feb 17 Priceline Group Momondo Group UK 586 Dec 16 General Atlantic Hemnet (majority stake) Sweden 208 Oct 15 Exponent. Electra PhotoBox UK 546 May 11 LBO France Promovacances France 200 Jul 13 Cinven Host Europe UK 508 Jun 10 Rakuten PriceMinister France 200 Apr 16 Vente-Privée Privalia Spain 500 Jun 14 Bestseller M&M Direct UK 177 Feb 15 Rocket Internet Delivery Hero (30%) Germany 496 Mar 11 Privalia Dress for Less Germany 175 Mar 16 HgCapital Raet Netherlands 470 Apr 16 Nokia Withings France 170 Jul 13 TPG TSL Education UK 464 Sep 14 Neiman Marcus Mytheresa.com Germany 150 Mar 14 BC Partners CarTrawler Ireland 450 • Deal Value Top 80: EUR 77bn Feb 11 Odigeo (AXA and Permira) Opodo UK 450 Feb 15 Immowelt Immonet (merger) Germany 420 • Deal Value on NOAH Stage: EUR 45bn (59%) Apr 11 TA & Summit Bigpoint Germany 408 • 56% of Top 80 Deals presented at NOAH

Note: Digital Companies trade sale exits (only one most recent deal counted per company). Green font denotes speaker at NOAH. Trading Comparables

137 Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 Advertising / Marketing Ad Networks Criteo (Europe) 1,002 44% 1.2x 1.1x 1.0x 11% 3.9x 3.8x 3.3x 10% 30% 9.9x 10.3x 8.6x Taptica (Middle East) 236 58% 1.0x 0.6x 0.6x 31% 6.2x 5.3x 4.7x 14% 12% 7.8x 7.1x 6.3x Matomy (Middle East) 48 41% 0.2x n/a n/a (100%) 1.8x n/a n/a (100%) n/a n/a n/a n/a Mean 0.8x 0.9x 0.8x (19%) 4.0x 4.6x 4.0x (25%) 21% 8.8x 8.7x 7.4x Intermediaries Trade Desk (US) 2,896 94% 10.9x 7.7x 6.1x 34% 36.7x 24.9x 19.4x 37% 31% 52.9x 38.8x 30.5x QuinStreet (US) 488 89% 1.7x 1.3x 1.2x 20% 27.5x 15.4x 11.5x 55% 8% 63.1x 20.4x 16.9x FreakOut (AsiaPac) 281 53% 2.8x 2.5x 1.6x 32% 53.1x 50.3x 22.7x 53% 5% n/a n/a n/a RhythmOne (US) 159 48% 0.6x 0.3x 0.3x 44% 12.8x 3.1x 2.1x 144% 11% n/a n/a n/a SeaChange (US) 48 72% 0.7x 0.7x 0.6x 6% 10.0x 6.9x 5.4x 36% 10% 33.1x 18.5x 13.3x Weborama (Europe) 47 90% n/a 1.2x 1.0x n/a 7.9x 6.2x 4.8x 29% 20% 57.0x 18.3x 17.5x Cxense (Europe) 35 48% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Marin Software (US) 13 38% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Netccentric (AsiaPac) (1) 24% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a The Rubicon Project (US) (2) 41% n/m n/m n/m (9%) 0.6x 0.1x 0.2x 72% (23%) n/m n/m n/m Mean 3.3x 2.3x 1.8x 21% 21.2x 15.3x 9.4x 61% 9% 51.6x 24.0x 19.6x Data and Loyalty HubSpot (US) 3,760 96% 11.7x 8.8x 7.1x 28% n/m 95.5x 65.6x 74% 9% n/m n/m 99.7x Acxiom (US) 1,992 87% 2.6x 2.4x 2.3x 6% 13.4x 12.4x 11.9x 6% 20% 36.3x 28.4x 24.2x Quotient Technology (US) 888 75% 3.2x 2.7x 2.3x 19% 21.9x 14.8x 10.9x 42% 18% 56.8x 36.3x 20.6x Aimia (Canada) 243 52% 0.2x 0.2x 0.2x (14%) 1.5x 1.6x 1.6x (4%) 15% 2.9x 2.8x 3.2x 1000mercis (Europe) 81 59% 1.4x 1.2x 1.1x 14% 6.5x 7.3x 6.3x 2% 17% n/a n/a n/a Marchex (US) 26 72% 0.3x 0.3x 0.3x (1%) 42.4x 24.7x 16.5x 60% 1% n/m n/m n/m Somoto (Middle East) 22 51% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Mean 3.2x 2.6x 2.2x 9% 17.1x 26.1x 18.8x 30% 13% 32.0x 22.5x 36.9x Market Research Nielsen (Europe) 16,426 68% 2.9x 2.8x 2.7x 4% 9.3x 9.2x 8.5x 5% 30% 11.2x 11.8x 10.5x Gartner (US) 12,760 92% 4.5x 3.7x 3.3x 16% 21.1x 19.9x 17.6x 10% 19% 38.3x 34.3x 28.6x Ipsos (Europe) 1,681 82% 0.9x 1.0x 0.9x 1% 8.2x 8.3x 7.8x 3% 12% 10.2x 9.7x 9.0x comScore (US) 1,198 79% 2.3x 3.3x 3.3x (16%) 8.7x n/m 40.7x (54%) (1%) 12.5x n/a n/a National Research Corporation (US) 698 81% 6.8x n/a n/a (100%) 20.8x n/a n/a (100%) n/a 38.1x n/a n/a Forrester Research (US) 537 88% 1.9x 1.8x 1.7x 6% 16.2x 13.9x 12.0x 16% 13% 33.4x n/a n/a YouGov (Europe) 505 97% 3.9x 3.6x 3.3x 10% 24.6x 20.8x 17.7x 18% 17% 35.5x 30.7x n/a Intage (AsiaPac) 308 76% 0.8x 0.7x 0.7x 5% 6.9x 6.9x 6.6x 3% 11% n/a n/a n/a Mean 3.0x 2.4x 2.3x (9%) 14.5x 13.2x 15.8x (12%) 14% 25.6x 21.7x 16.0x Agencies WPP (Europe) 23,384 70% 1.3x 1.3x 1.3x 1% 7.9x 8.2x 8.0x (1%) 16% 10.1x 10.5x 10.1x Omnicom (US) 16,542 82% 1.2x 1.2x 1.2x 3% 8.2x 7.9x 7.5x 5% 15% 13.3x 12.4x 12.0x Publicis Group (Europe) 14,114 86% 1.5x 1.5x 1.4x 0% 8.4x 8.4x 8.0x 2% 18% 12.9x 12.6x 11.8x Dentsu (AsiaPac) 13,996 90% 1.9x 1.8x 1.6x 7% 9.9x 10.2x 8.8x 6% 17% n/a n/a n/a Interpublic Group of Companies (US) 9,087 87% 1.3x 1.2x 1.2x 7% 9.3x 8.5x 8.3x 6% 14% 15.7x 13.0x 12.4x JCDecaux (Europe) 6,137 72% 1.8x 1.7x 1.7x 3% 10.3x 10.1x 9.4x 4% 17% 24.9x 24.8x 21.2x MDC Partners (US) 1,178 34% 0.9x 0.9x 0.8x 3% 6.7x 6.6x 6.1x 5% 14% 8.4x 13.7x 6.0x Asatsu-DK (AsiaPac) - 92% n/m n/a n/a (100%) n/m n/a n/a (100%) n/a n/a n/a n/a Mean 1.4x 1.4x 1.3x (10%) 8.6x 8.6x 8.0x (9%) 16% 14.2x 14.5x 12.2x Classifieds Diversified Next Co (US) 97,044 99% 6.5x 6.2x 5.9x 4% 12.2x 12.3x 11.2x 4% 51% 24.3x 21.0x 19.2x Naspers (Africa) 92,978 75% 15.6x 14.8x 12.9x 10% n/m n/m 90.4x 90% 10% 41.5x 29.7x 21.0x Recruit Holdings (AsiaPac) 37,837 97% 2.3x 2.1x 1.9x 9% 18.2x 17.1x 14.5x 12% 12% n/a n/a n/a MercadoLibre (LatAm) 11,326 71% 9.6x 8.3x 5.3x 35% 69.5x n/m 59.2x 8% 5% n/m n/m n/m 58.com (AsiaPac) 9,685 88% 7.3x 5.8x 4.8x 24% 37.1x 26.1x 17.9x 44% 22% 49.2x 30.6x 21.5x Schibsted (Europe) 5,808 87% 3.3x 3.0x 2.8x 7% 21.6x 16.9x 13.8x 25% 18% 53.3x 34.6x 23.9x Scout24 (Europe) 5,190 94% 10.8x 9.9x 9.0x 9% 20.9x 18.1x 16.2x 14% 55% 31.2x 27.0x 23.7x Info Edge India (AsiaPac) 1,756 85% 15.7x 13.4x 11.5x 17% 46.4x 37.3x 31.0x 22% 36% 61.3x 47.8x 40.1x Trade Me (AsiaPac) 1,197 86% 8.2x 7.7x 7.2x 7% 12.5x 11.9x 11.3x 5% 65% 20.1x 19.2x 18.1x Just Dial (AsiaPac) 522 93% 5.4x 4.9x 4.4x 10% 27.3x 22.6x 20.0x 17% 21% 30.6x 26.1x 22.8x Mean 8.5x 7.6x 6.6x 13% 29.5x 20.3x 28.6x 24% 30% 38.9x 29.5x 23.8x Real Estate Zillow (US) 8,790 92% 9.5x 6.8x 4.9x 40% 43.1x 36.7x 26.9x 27% 19% n/m 76.8x 50.2x REA Group (AsiaPac) 7,894 99% 16.5x 14.0x 12.4x 15% 28.9x 24.0x 20.9x 18% 58% 46.8x 38.3x 32.6x Rightmove (Europe) 5,136 100% 18.4x 16.8x 15.5x 9% 24.4x 22.1x 20.5x 9% 76% 30.8x 27.7x 25.7x ZPG (Europe) 2,794 97% 10.2x 7.7x 7.1x 20% 23.7x 19.6x 17.8x 16% 39% 32.0x 29.0x 24.7x Fang Holdings (AsiaPac) 2,341 93% 5.9x 5.8x 5.0x 9% 50.7x 16.0x 11.6x 109% 36% n/m 20.5x 14.9x Redfin (US) 1,413 66% 4.5x 3.4x 2.7x 29% n/m n/m 60.6x 972% 0% n/m n/m n/m Mitula (Europe) 90 66% 4.0x 3.4x 3.0x 15% 11.2x 10.0x 9.1x 11% 34% 19.5x 17.5x 15.9x Leju (AsiaPac) 42 49% 0.1x 0.1x 0.1x 24% n/m n/m n/a (100%) (6%) n/m 18.8x 58.7x Mean 8.6x 7.2x 6.3x 20% 30.3x 21.4x 23.9x 133% 32% 32.3x 32.7x 31.8x

Source: CapitalIQ (as of 29 May 2018). 1 View Our Internet Trading Comps Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 Classifieds (Cont'd) Automotive Autohome (AsiaPac) 9,327 95% 11.4x 9.5x 7.9x 20% 33.0x 22.7x 18.6x 33% 42% 40.6x 28.8x 23.8x Bitauto (AsiaPac) 4,700 41% 4.1x 3.1x 2.5x 29% 26.8x 41.1x 14.6x 36% 8% 13.0x 12.7x 7.6x Auto Trader (Europe) 4,353 82% 11.8x 11.0x 10.6x 5% 16.8x 15.7x 14.7x 7% 70% 20.7x 19.1x 17.7x Cargurus (US) 2,879 79% 10.6x 7.9x 6.7x 26% n/m n/m 74.5x 46% 8% n/m n/m n/m Carsales.com (AsiaPac) 2,385 92% 9.4x 7.8x 7.0x 16% 19.1x 16.3x 14.6x 14% 48% 27.8x 24.9x 22.3x BCA Marketplace (Europe) 2,174 84% 0.8x 0.8x 0.7x 9% 12.9x 11.8x 10.8x 9% 6% 18.7x 16.7x 15.0x Carvana (US) 1,183 86% 1.6x 0.8x 0.4x 94% n/m n/m n/m (77%) (8%) n/m n/m n/m TrueCar (US) 688 44% 2.5x 2.2x 1.9x 14% 28.5x 21.2x 14.7x 39% 10% n/m 63.8x 33.9x Mean 6.5x 5.4x 4.7x 27% 22.9x 21.4x 23.2x (10%) 23% 24.2x 27.7x 20.0x Recruitment Axel Springer (Europe) 8,638 84% 2.5x 2.7x 2.6x (2%) 13.3x 11.6x 10.6x 12% 23% 22.8x 21.1x 19.1x Seek (AsiaPac) 5,415 97% 7.2x 6.1x 5.5x 14% 20.6x 18.2x 16.2x 13% 34% 36.0x 31.7x 27.8x 51job (AsiaPac) 5,044 97% 2.0x 1.5x 1.3x 28% 5.8x 4.4x 3.4x 31% 35% 7.4x 5.3x 4.1x Dice Holdings (US) 119 74% 0.7x 0.8x 0.8x (9%) 3.5x 3.8x 4.5x (12%) 21% 17.4x 9.8x 15.1x Mean 3.1x 2.8x 2.5x 8% 10.8x 9.5x 8.7x 11% 28% 20.9x 17.0x 16.5x Content Providers IAC (US) 11,772 91% 4.2x 3.3x 2.9x 20% 23.5x 14.1x 11.6x 42% 23% 59.0x 22.7x 17.8x TechTarget (US) 621 100% 6.6x 5.8x 5.1x 14% 33.2x 23.7x 18.5x 34% 24% 65.9x 35.2x 26.2x XO Group (US) 606 100% 4.4x 4.2x 3.8x 7% 25.1x 19.0x 16.8x 22% 22% 92.9x 51.0x 43.0x Mean 5.1x 4.4x 4.0x 14% 27.3x 19.0x 15.6x 33% 23% 72.6x 36.3x 29.0x Digital Entertainment Netflix (US) 134,995 99% 13.3x 9.7x 7.8x 31% n/m 74.5x 48.3x 73% 13% n/m n/m 72.0x Spotify (Europe) 23,540 90% n/a 5.3x 4.1x n/a n/a n/m n/m n/a (4%) n/a n/m n/m Freenet (Europe) 4,222 73% 1.2x 1.3x 1.3x (5%) 8.8x 9.6x 9.3x (3%) 14% 10.4x 12.8x 11.8x Bilibili (AsiaPac) 4,009 97% n/a 1.1x 0.7x n/a n/a 8.5x 2.9x n/a 12% n/a 84.1x 4.5x Roku (US) 3,255 66% 7.4x 5.4x 4.1x 35% n/m n/m 93.6x n/a (0%) n/a n/m n/m Pandora (US) 1,754 70% 1.4x 1.3x 1.2x 8% n/m n/m n/m (67%) (6%) n/m n/m n/m Pandora Media (US) 1,754 70% 1.4x 1.3x 1.2x 8% n/m n/m n/m (67%) (6%) n/m n/m n/m Xunlei (AsiaPac) 382 44% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Brave Bison (Europe) 5 33% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Mean 5.0x 3.6x 2.9x 15% 8.8x 30.9x 38.6x (16%) 3% 10.4x 48.5x 29.5x E-Commerce Diversified Amazon (US) 694,245 98% 4.5x 3.4x 2.8x 28% 41.9x 26.9x 20.4x 43% 13% n/m n/m 80.5x Alibaba (AsiaPac) 438,392 96% 15.0x 8.9x 6.3x 54% 33.0x 25.1x 17.9x 36% 36% 40.9x 32.3x 23.3x Rakuten (AsiaPac) 11,298 52% 1.5x 1.3x 1.2x 14% 7.2x 8.0x 7.1x 0% 17% n/a n/a n/a Investment AB Kinnevik (Europe) 8,207 93% 83.9x 79.7x 79.7x 3% n/m n/m n/m 12% (21%) 37.7x 47.9x 39.0x Liberty Ventures (US) 6,049 77% n/a 7.4x 7.3x n/a n/a 26.1x 24.9x n/a 28% n/a n/m n/m B2W (LatAm) 2,976 73% 1.7x 1.7x 1.6x 4% 19.1x 14.9x 11.2x 30% 12% n/m n/m n/m Vostok New Ventures (AsiaPac) 658 97% 3.1x 2.5x 2.1x 23% 5.4x 4.2x 3.3x 28% 61% 6.5x 6.0x 4.9x Rocket Internet (Europe) 588 87% 8.6x 9.1x 8.3x 2% n/m n/m n/m 21% (125%) n/m n/m n/m Netshoes (LatAm) 140 11% 0.3x 0.3x 0.3x 2% n/m n/m 22.0x n/a (0%) n/m n/m n/m Mean 14.8x 12.7x 12.2x 16% 21.3x 17.5x 15.3x 24% 2% 28.4x 28.7x 36.9x Personalized Cimpress (Europe) 4,501 80% 2.2x 1.9x 1.7x 13% 17.9x 14.8x 11.5x 24% 13% 62.3x n/a n/a Stamps.com (US) 3,780 99% 9.5x 8.0x 6.9x 18% 19.2x 17.2x 14.3x 16% 46% 26.0x 23.7x 21.0x Shutterfly (US) 2,788 95% 2.8x 1.6x 1.4x 40% 14.5x 8.2x 7.5x 39% 19% n/m 29.9x 26.8x CEWE Stiftung (Europe) 640 93% 1.1x 1.0x 0.9x 6% 7.0x 6.7x 6.4x 5% 15% 18.3x 16.8x 15.6x Eve Sleep (Europe) 105 59% 3.3x 1.6x 0.9x 94% n/m n/m n/m n/a (25%) n/m n/m n/m Oponeo.pl (Europe) 122 77% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Cafepress Inc. (US) 1 52% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Mean 3.8x 2.8x 2.4x 34% 14.6x 11.7x 9.9x 21% 14% 35.5x 23.5x 21.1x Online Food & Restaurants Delivery Hero (Europe) 6,615 96% 12.0x 8.6x 6.3x 39% n/m n/m n/m n/a (8%) n/m n/m n/m Just Eat (Europe) 6,233 92% 10.3x 7.6x 6.3x 28% 33.5x 29.6x 21.9x 24% 26% 50.5x 46.1x 33.9x Takeaway.com (Europe) 1,972 87% 11.9x 8.5x 6.6x 34% n/m n/m 69.1x n/a (4%) n/m n/m 95.6x Hellofresh (Europe) 1,521 78% 1.7x 1.2x 1.0x 31% n/m n/m 35.1x n/a (4%) n/m n/m n/m Blue Apron (US) 479 27% 0.6x 0.7x 0.6x 2% n/m n/m n/m (83%) (7%) n/m n/m n/m Mean 7.3x 5.3x 4.2x 27% 33.5x 29.6x 42.0x (30%) 1% 50.5x 46.1x 64.7x Marketplaces eBay (US) 36,138 80% 4.4x 3.8x 3.5x 12% 12.1x 11.4x 10.6x 7% 34% 17.2x 16.2x 14.8x GrubHub (US) 7,776 90% 13.2x 9.4x 7.5x 33% 49.6x 34.9x 26.8x 36% 27% 91.2x 57.3x 44.3x Kakaku (AsiaPac) 3,764 100% n/a 9.3x 8.4x n/a n/a 18.2x 16.5x n/a 51% n/a n/a n/a Etsy (US) 2,861 96% 7.6x 6.1x 5.1x 21% 44.5x 26.8x 21.3x 45% 23% 52.0x 45.3x 34.9x Shutterstock (US) 1,141 87% 2.4x 2.1x 1.9x 13% 14.5x 12.6x 10.5x 18% 17% 38.8x 33.1x 24.7x Care.com (US) 494 97% 3.3x 3.0x 2.6x 12% 26.1x 18.0x 15.0x 32% 16% 31.7x 23.3x 20.2x Liquidity Services (US) 69 70% 0.3x 0.4x n/a (100%) n/m n/m n/a (100%) (7%) n/m n/m n/a MyHammer (Europe) 45 93% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Mean 5.2x 4.8x 4.8x (2%) 29.4x 20.3x 16.8x 6% 23% 46.2x 35.0x 27.8x

Source: CapitalIQ (as of 29 May 2018). 2 View Our Internet Trading Comps Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 E-Commerce (Cont'd) Verticals / Players JD.com (AsiaPac) 43,515 72% 0.1x 0.1x 0.1x 28% 8.4x 5.9x 3.0x 67% 2% 10.2x 8.0x 4.6x Ocado (Europe) 6,976 87% 4.2x 3.8x 3.3x 12% 66.7x 67.8x 55.7x 9% 6% n/m n/m n/m Wayfair (US) 6,873 91% 1.7x 1.2x 1.0x 34% n/m n/m n/m (12%) (2%) n/m n/m n/m Monotaro (AsiaPac) 4,192 96% 6.0x 4.9x 4.0x 22% 40.8x 33.3x 27.8x 21% 15% n/a n/a n/a CTS Eventim (Europe) 3,356 93% 3.4x 3.0x 2.9x 9% 15.7x 14.1x 12.8x 11% 21% 33.1x 31.9x 27.4x Proto Labs (US) 2,733 94% 9.2x 7.1x 6.2x 21% 32.4x 25.7x 22.5x 20% 27% 57.3x 40.9x 35.5x Abcam (Europe) 2,709 91% 10.5x 9.6x 8.7x 10% 31.5x 24.1x 21.8x 20% 40% 41.7x 35.5x 32.1x Zooplus (Europe) 1,217 90% 1.1x 0.9x 0.7x 22% n/m n/m 58.8x 47% 0% n/m n/m n/m AO World (Europe) 799 91% 0.9x 0.8x 0.7x 13% n/m n/m 32.3x n/a 1% n/a n/m 57.5x Overstock.com (US) 710 37% 0.5x 0.4x 0.4x 7% n/m n/m n/m n/a (7%) n/m n/m n/m 1-800-Flowers.com (US) 665 97% 0.7x 0.7x 0.6x 2% 9.3x 8.7x 8.3x 6% 8% 30.6x 22.7x 20.7x PetMed Express (US) 594 65% 2.6x 2.4x 2.2x 8% 14.2x 12.0x n/a (100%) 20% 24.0x 17.1x 14.8x Zur Rose Group (Europe) 588 79% 0.7x 0.6x 0.5x 20% n/m n/m 40.7x n/a (1%) n/m n/m n/m Cogobuy (AsiaPac) 503 46% 0.4x 0.2x 0.2x 47% 5.9x 4.1x 3.2x 36% 5% 10.0x 6.1x 4.7x Shop Apotheke Europe (Europe) 489 66% 1.7x 0.9x 0.7x 55% n/m n/m 68.1x n/a 0% n/m n/m n/m LDLC.com (Europe) 132 52% 0.3x 0.2x 0.2x 13% 9.1x 7.7x 6.2x 21% 3% 17.6x 14.9x 10.7x Delticom (Europe) 121 49% 0.2x 0.2x 0.2x 8% 9.4x 7.8x 6.7x 18% 2% 32.0x 21.3x 14.8x U.S. Auto Parts Network (US) 51 50% 0.2x 0.2x 0.2x 2% 4.3x 4.3x 3.5x 10% 4% n/a n/m 19.6x Mean 2.5x 2.1x 1.8x 19% 20.6x 18.0x 24.8x 13% 8% 28.5x 22.1x 22.0x Fashion and Flash Sales Zalando (Europe) 10,025 89% 2.2x 1.8x 1.5x 22% 37.2x 30.0x 23.2x 27% 6% 85.1x 75.0x 56.5x Start Today (AsiaPac) 9,256 97% 12.5x 9.5x 7.1x 33% 36.1x 29.8x 24.1x 23% 32% n/a n/a n/a ASOS (Europe) 6,265 85% 2.8x 2.2x 1.7x 29% 41.3x 31.1x 23.9x 31% 7% 80.4x 63.8x 51.0x Vipshop (AsiaPac) 6,119 61% 0.1x 0.1x 0.1x 25% 2.1x 1.8x 1.3x 29% 4% 2.7x 2.3x 1.7x Yoox Net-A-Porter (Europe) 5,107 100% 2.4x 2.1x 1.8x 17% 30.0x 24.9x 18.5x 27% 9% 90.4x 73.2x 48.0x Boohoo.com (Europe) 2,563 75% 5.3x 2.9x 2.2x 55% 52.2x 31.8x 24.5x 46% 9% 80.2x 55.6x 46.6x Stitch Fix (US) 1,450 66% n/a 1.3x 1.0x n/a n/a 36.9x 33.2x n/a 3% n/a n/m 99.0x MySale Group (AsiaPac) 150 73% 0.5x 0.4x n/a (100%) 12.8x 9.9x n/a (100%) 4% 35.8x 29.7x n/a LightInTheBox (AsiaPac) 60 58% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Windeln.de (Europe) 31 43% 0.1x 0.2x 0.1x 2% n/m n/m n/m (75%) (9%) n/m n/m n/m Jumei (AsiaPac) 6 57% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Mean 3.3x 2.3x 1.9x 10% 30.3x 24.5x 21.2x 1% 7% 62.4x 49.9x 50.5x Finance and Price Comparison Moneysupermarket (Europe) 1,893 85% 4.9x 4.8x 4.5x 4% 12.8x 13.0x 12.3x 2% 37% 18.7x 18.8x 17.3x Hypoport (Europe) 902 91% 4.6x 3.8x 3.4x 17% 28.6x 23.6x 20.1x 19% 16% 47.0x 37.2x 32.2x Jianpu Tech (AsiaPac) 644 61% 0.5x 0.4x 0.2x 75% n/m n/m 2.8x n/a (6%) n/m n/m 4.1x Gruppo MutuiOnline (Europe) 463 73% 3.0x 2.6x 2.3x 13% 10.2x 8.9x 8.1x 12% 29% 18.9x 17.6x 15.7x iSelect (AsiaPac) 67 28% 0.5x 0.5x 0.5x 7% 4.2x 4.4x 3.6x 7% 12% 9.8x 9.8x 7.6x Comperia (Europe) 4 100% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a HubStyle (Grupa Nokaut) (Europe) 2 23% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a LendingClub (US) - 51% n/m n/m n/m 19% n/m n/m n/m 74% 12% n/m 35.8x 18.4x Ferratum (Europe) - 72% n/m n/m n/m 30% n/m n/m n/m 36% 16% 24.2x 16.3x 12.3x On Deck Capital (US) - 93% n/m n/m n/m 11% n/m n/m n/m 191% 7% n/m 18.7x 13.6x Mean 2.7x 2.4x 2.2x 22% 13.9x 12.4x 9.4x 49% 15% 23.7x 22.0x 15.2x Other LendingTree (US) 2,706 64% 5.1x 4.0x 3.2x 27% 27.7x 21.0x 15.8x 32% 19% 60.0x 39.9x 27.0x Yelp (US) 2,379 88% 3.3x 2.9x 2.5x 15% 17.5x 14.9x 11.5x 23% 19% 40.4x 30.4x 23.6x Groupon (US) 1,879 79% 0.8x 0.8x 0.8x (2%) 9.1x 7.6x 7.1x 14% 11% 35.9x 19.2x 16.8x Gocompare.com (Europe) 637 90% 3.7x 3.2x 3.1x 10% 14.9x 11.8x 10.7x 18% 27% 19.0x 14.7x 13.2x eHealth (US) 294 69% 2.0x 1.5x 1.3x 22% n/m 13.8x 9.5x n/a 11% n/m 24.3x 14.4x Gurunavi (AsiaPac) 279 45% 1.0x 1.0x 1.0x (1%) 4.4x 5.0x 5.5x (11%) 20% n/a n/a n/a Mean 2.6x 2.2x 2.0x 12% 14.7x 12.3x 10.0x 15% 18% 38.8x 25.7x 19.0x Education New Oriental Education (AsiaPac) 11,310 91% 6.4x 4.7x 3.5x 35% 38.7x 31.1x 20.9x 36% 15% 48.8x 37.9x 27.3x Pearson (Europe) 8,919 97% 1.7x 1.9x 1.9x (5%) 11.0x 11.3x 10.5x 2% 17% 16.7x 18.1x 16.1x 2U (US) 4,402 94% 17.8x 12.4x 9.4x 38% n/m n/m n/m 62% 4% n/m n/m n/m Chegg (US) 2,485 100% 11.4x 9.4x 7.8x 21% 63.7x 36.8x 27.4x 53% 26% n/m 63.0x 47.2x Pluralsight (US) 1,638 99% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Instructure (US) 1,128 90% 8.3x 6.3x 5.0x 29% n/m n/m n/m (36%) (10%) n/m n/m n/m Capella Education (US) 806 95% 2.1x 2.1x 2.0x 2% 10.8x 10.6x 9.9x 5% 20% 25.7x 20.9x 19.4x Cambium Learning Group (US) 455 73% n/a 3.3x 3.1x n/a n/a 11.1x 9.9x n/a 30% n/a 25.0x 20.5x American Public Education (US) 444 93% 1.7x 1.7x 1.6x 2% 10.1x 9.5x 8.8x 7% 18% 38.7x 25.8x 23.1x K12 (US) 374 81% 0.5x 0.5x n/a (100%) 3.8x 3.7x n/a (100%) 13% 29.0x 51.1x n/a Boxlight (US) 57 38% 2.4x 1.9x n/a (100%) n/a n/a n/a n/a - n/a n/a n/a Mean 5.8x 4.4x 4.3x (9%) 23.0x 16.3x 14.6x 4% 13% 31.8x 34.5x 25.6x

Source: CapitalIQ (as of 29 May 2018). 3 View Our Internet Trading Comps Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 Fitness & Wearbles Under Armour (US) 8,097 88% 1.9x 1.8x 1.7x 6% 29.1x 27.6x 21.9x 15% 7% 99.3x n/m 62.9x GoPro (US) 653 47% 0.6x 0.7x 0.7x (2%) n/m n/m 14.6x n/a (0%) n/m n/m n/m Fitbit (US) 558 74% 0.4x 0.4x 0.4x (4%) n/m n/m n/m (4%) (4%) n/m n/m n/m Huami Corporation (AsiaPac) 426 88% 0.2x 0.2x 0.1x 49% 3.2x 3.8x 1.2x 62% 4% 3.8x 2.1x 1.5x Mean 0.8x 0.8x 0.7x 12% 16.1x 15.7x 12.5x 25% 1% 51.6x 2.1x 32.2x Gambling Paddy Power Betfair (Europe) 8,567 100% 4.4x 4.0x 3.8x 8% 16.4x 15.5x 14.7x 6% 26% 23.8x 22.5x 21.3x Amaya (Canada) 6,748 93% 7.8x 6.1x 4.9x 25% 16.7x 14.6x 11.7x 19% 42% 14.9x 13.1x 11.5x GVC Holdings (Europe) 6,677 98% 6.0x 1.6x 1.5x 99% 21.5x 7.3x 6.7x 79% 22% 30.6x 12.4x 11.1x Playtech (Europe) 2,757 77% 2.9x 2.8x 2.3x 13% 7.5x 7.1x 5.5x 16% 40% 10.0x 9.8x 8.1x Net Entertainment (Europe) 1,121 63% 7.1x 6.4x 5.8x 11% 15.5x 13.6x 12.4x 12% 47% 22.5x 19.4x 18.6x 888 Holdings (Europe) 1,092 92% 1.7x 1.7x 1.6x 5% 9.8x 8.8x 8.2x 10% 19% 16.4x 15.3x 13.4x Bet-at-home.com (Europe) 419 50% 3.5x 3.4x 3.3x 3% 11.6x 11.7x 10.9x 3% 29% 16.2x 16.5x 15.2x Sportech (Europe) 158 77% 1.7x 1.9x 1.8x (5%) 11.1x 14.5x 13.7x (10%) 13% 26.2x n/a n/a ZEAL Network (Europe) 101 93% 0.7x 0.6x 0.6x 9% 4.3x 2.9x 2.3x 37% 22% 14.1x 9.8x 7.6x Mean 4.0x 3.2x 2.8x 19% 12.7x 10.7x 9.6x 19% 29% 19.4x 14.9x 13.4x Gaming MMO NetEase (AsiaPac) 21,647 61% 3.0x 2.3x 1.8x 30% 12.3x 15.8x 12.0x 1% 15% 14.6x 18.5x 15.0x Nexon (AsiaPac) 9,597 89% 5.3x 4.5x 4.1x 13% 12.1x 9.6x 8.8x 17% 46% n/a n/a n/a Sea Limited (US) 8,877 89% 2.3x 2.2x 2.1x 5% 12.4x 11.3x 10.8x 7% 19% 21.0x 17.7x 16.3x NCsoft (AsiaPac) 4,745 71% 3.3x 3.4x 2.6x 13% 9.4x 8.4x 6.5x 21% 40% 15.5x 15.6x 11.2x HUYA (AsiaPac) 3,989 96% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a NetDragon (AsiaPac) 1,028 59% 2.4x 2.0x 1.6x 22% 29.0x 18.1x 15.4x 37% 11% n/m 80.0x 33.3x WeMade (AsiaPac) 489 81% 5.7x 3.8x 3.1x 37% 70.5x 15.3x 11.6x 147% 25% 66.1x 26.3x 19.4x Rovio (Europe) 334 43% 1.1x 1.2x 1.1x (1%) 5.0x 7.7x 6.9x (15%) 16% 13.3x 20.7x 13.7x Changyou (AsiaPac) (108) 40% n/m n/m n/m (7%) n/m n/m n/m (18%) 23% 6.0x 18.1x 8.6x Mean 3.3x 2.7x 2.3x 14% 21.5x 12.3x 10.3x 25% 24% 22.8x 28.1x 16.8x Mobile and Casual Colopl (Europe) 17,680 98% 8.3x 7.8x 7.2x 8% 22.8x 22.2x 20.6x 5% 35% 33.3x 32.1x 29.4x CyberAgent (AsiaPac) 5,692 92% 1.9x 1.6x 1.3x 18% 17.8x 15.6x 13.0x 17% 10% n/a n/a n/a Youzu (AsiaPac) 2,629 63% 5.6x 4.4x 3.4x 28% 20.7x 19.8x 13.5x 24% 22% 23.8x 16.9x 13.3x Zynga (US) 2,554 96% 3.5x 3.3x 2.9x 9% 22.9x 17.6x 13.9x 28% 19% 41.4x 28.6x 22.1x GREE (Europe) 2,084 70% 0.8x 0.7x 0.7x 4% 9.4x 8.6x 8.1x 8% 8% 12.6x 12.1x 11.4x DeNA (AsiaPac) 1,819 73% 1.6x 1.6x 1.5x 4% 6.8x 8.6x 6.2x 5% 18% n/a n/a n/a GungHo Online (AsiaPac) 1,199 71% 1.6x 1.8x 1.9x (7%) 3.9x 5.9x 6.2x (21%) 30% n/a n/a n/a NHN Entertainment (AsiaPac) 800 78% 1.1x 1.0x 0.9x 9% 13.6x 9.3x 8.0x 30% 11% 29.2x 11.9x 15.5x Glu Mobile (US) 619 95% 2.3x 1.9x 1.7x 14% n/m 20.8x 14.6x n/a 9% n/m 23.2x 15.9x Gumi (AsiaPac) 171 56% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a IGNIS (AsiaPac) 162 44% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Focus Home Interactive (Europe) 144 65% 1.7x 1.3x 1.2x 19% 14.3x 9.7x 8.9x 27% 14% 24.3x 14.0x 13.8x Ourgame (AsiaPac) 90 39% 1.4x 1.0x 1.0x 18% n/a n/a n/a n/a - n/m 11.8x 7.0x Boyaa Interactive (AsiaPac) (38) 73% n/m n/m n/m 3% n/a n/a n/a n/a - 6.5x 7.1x 5.9x Mean 2.7x 2.4x 2.2x 11% 14.7x 13.8x 11.3x 14% 15% 24.4x 17.5x 14.9x Console & PC Activision Blizzard (US) 45,760 89% 7.5x 7.0x 6.5x 7% 20.4x 18.7x 16.2x 12% 38% 30.9x 26.8x 23.0x Electronic Arts (US) 31,100 98% 7.1x 6.6x 6.0x 9% 21.2x 18.5x 15.3x 18% 36% 32.5x 27.4x 23.1x Take-Two Interactive (US) 9,741 86% 5.6x 4.4x 4.2x 16% 21.3x 17.0x 12.4x 31% 26% 32.7x 26.3x 19.1x Ubisoft Entertainment (Europe) 9,671 98% 5.3x 4.6x 4.2x 13% 14.5x 10.9x 10.1x 20% 42% 51.8x 31.0x 31.3x Bandai Namco (AsiaPac) 6,286 99% 1.2x 1.1x 1.1x 4% 9.1x 8.4x 8.0x 7% 13% n/a n/a n/a Konami (AsiaPac) 4,626 78% 2.3x 2.3x 2.3x 2% 9.6x 9.0x 7.9x 10% 25% n/a n/a n/a Square Enix (AsiaPac) 3,903 91% 1.8x 1.8x 1.7x 4% 11.6x 10.0x 8.5x 16% 19% n/a n/a n/a CD Projekt (Europe) 3,047 97% 29.1x 26.1x 8.1x 90% 54.1x 66.7x 13.1x 103% 39% 72.4x 80.8x 21.0x Sega Sammy (AsiaPac) 2,736 96% 1.0x 1.0x 0.9x 2% 7.8x 7.8x 6.4x 10% 13% n/a n/a n/a Paradox Interactive (Europe) 2,099 99% 27.0x 18.5x 14.6x 36% 45.4x 29.9x 22.4x 42% 62% 87.0x 51.9x 40.4x Capcom (AsiaPac) 1,977 96% 2.8x 2.4x 2.5x 6% 10.6x 10.4x 9.3x 6% 23% n/a n/a n/a Marvelous (AsiaPac) 280 75% 1.4x 1.3x 1.2x 7% n/a n/a n/a n/a - n/a n/a n/a Mean 7.7x 6.4x 4.4x 16% 20.5x 18.8x 11.8x 25% 28% 51.2x 40.7x 26.3x

Source: CapitalIQ (as of 29 May 2018). 4 View Our Internet Trading Comps Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 Hardware & Semiconductors Apple (US) 828,677 99% 4.0x 3.6x 3.5x 7% 13.0x 11.8x 11.4x 7% 31% 18.4x 15.2x 15.1x Samsung (AsiaPac) 243,011 89% 1.3x 1.2x 1.1x 5% 3.9x 3.3x 3.2x 10% 36% 9.0x 7.5x 7.6x IBM (US) 141,408 83% 2.1x 2.0x 2.0x 1% 8.5x 8.8x 8.3x 1% 23% 10.0x 10.2x 10.2x Sony (AsiaPac) 46,359 90% 0.7x 0.7x 0.7x 1% 5.4x 5.4x 5.0x 4% 12% n/a n/a n/a Hitachi (AsiaPac) 40,941 86% 0.6x 0.5x 0.5x 2% 4.6x 4.8x 4.5x 1% 11% n/a n/a n/a Philips (Europe) 35,618 96% 2.0x 2.0x 1.9x 3% 12.5x 11.7x 10.8x 8% 17% 23.9x 21.0x 18.7x HP (US) 26,275 79% 0.9x 1.0x 1.0x (3%) 5.4x 5.7x 5.6x (2%) 18% 12.1x 10.3x 10.2x Hewlett Packard Enterprise (US) 26,275 79% 0.9x 1.0x 1.0x (3%) 5.4x 5.7x 5.6x (2%) 18% 12.1x 10.3x 10.2x Nokia (Europe) 24,024 86% 1.0x 1.1x 1.1x (1%) 8.0x 8.3x 7.2x 5% 13% 16.1x 21.6x 16.2x Motorola (US) 19,733 98% 3.6x 3.1x 3.0x 9% 13.0x 11.4x 10.5x 11% 27% 19.5x 15.2x 14.1x Toshiba (AsiaPac) 19,261 88% 0.5x 0.8x 0.6x (10%) 1.8x 10.8x 13.1x (63%) 7% n/a n/a n/a Sharp (AsiaPac) 13,425 69% 0.7x 0.7x 0.6x 4% 9.2x 8.9x 8.7x 3% 8% n/a n/a n/a Fujitsu (AsiaPac) 11,487 73% 0.3x 0.4x 0.4x (4%) 4.5x 3.8x 4.2x 4% 10% n/a n/a n/a Unisplendour (AsiaPac) 9,900 83% 1.9x 1.7x 1.4x 16% n/a n/a n/a n/a - 71.6x 60.2x 52.1x Lenovo (AsiaPac) 8,178 79% 1.7x 1.6x 1.5x 5% 68.8x 53.5x 46.1x 22% 3% n/m n/m 79.6x LG (US) 6,286 65% 1.7x 1.9x 1.7x (0%) 11.5x 13.2x 11.1x 2% 14% 12.6x 22.3x 19.5x Quanta Computer (AsiaPac) 5,550 67% 0.2x 0.2x 0.2x 3% 7.6x 7.4x 6.4x 9% 3% 13.4x 12.5x 10.7x Pegatron Corporation (AsiaPac) 4,865 66% 0.1x 0.1x 0.1x 7% 4.6x 4.6x 3.8x 11% 3% 10.3x 10.6x 8.5x ASUSTeK Computer (AsiaPac) 3,796 94% 0.3x 0.3x 0.3x 1% 9.2x 7.3x 7.0x 15% 5% 13.8x 13.1x 12.1x Foxconn (AsiaPac) 1,643 74% 0.4x 0.4x 0.4x 1% 4.5x 4.3x 4.0x 6% 9% 10.3x 10.8x 10.0x Acer (AsiaPac) 1,444 73% 0.2x 0.2x 0.2x 3% 10.4x 8.9x 7.9x 15% 2% 27.0x 18.9x 17.4x nLIGHT (US) 1,127 96% n/a 6.9x 5.5x n/a n/a 44.7x 31.4x n/a 15% n/a 85.4x 56.1x One Stop Systems (US) 41 70% 1.7x 1.3x 0.9x 34% 29.6x 29.6x 11.6x 60% 4% n/m 56.6x 18.2x Mean 1.2x 1.4x 1.3x 4% 11.5x 12.4x 10.3x 6% 13% 18.7x 23.6x 21.5x Computer Peripherals & Storage Hon Hai Precision Industry (AsiaPac) 42,462 72% 0.3x 0.3x 0.3x 2% 7.0x 7.2x 6.2x 6% 4% 11.3x 11.8x 10.0x Western Digital (US) 27,769 81% 1.6x 1.5x 1.5x 3% 4.5x 4.5x 5.1x (6%) 34% 6.7x 5.8x 6.1x Seagate (Europe) 15,865 91% 1.7x 1.6x 1.7x 2% 8.4x 7.4x 7.8x 4% 22% 13.9x 9.7x 10.6x NetApp (US) 12,528 92% 2.5x 2.4x 2.3x 6% 11.1x 10.2x 8.8x 12% 23% 20.3x 17.1x 15.4x Zebra Technologies (US) 8,912 98% 2.8x 2.6x 2.5x 6% 15.2x 12.8x 12.3x 11% 20% 22.4x 15.3x 14.7x Logitech (Europe) 5,224 97% 2.5x 2.2x 2.0x 11% 20.8x 17.0x 15.9x 14% 13% 27.6x 23.2x 20.5x Shenzen Huiding (AsiaPac) 3,796 94% 0.3x 0.3x 0.3x 1% 9.2x 7.3x 7.0x 15% 5% 13.8x 13.1x 12.1x Pure Storage (US) 3,487 84% 4.0x 3.0x 2.4x 30% n/m 33.7x 20.9x 198% 9% n/m n/m 44.4x Lite-On (AsiaPac) 1,895 74% 0.3x 0.3x 0.3x (1%) 4.3x 4.3x 3.9x 4% 7% 32.6x 11.4x 10.2x PCI-Suntek (AsiaPac) 1,636 65% 2.8x 1.9x 1.4x 43% n/a n/a n/a n/a - 61.6x 33.1x 18.5x Chicony (AsiaPac) 1,462 88% 0.6x 0.6x 0.6x 8% 6.7x 7.1x 5.9x 7% 9% 12.8x 13.2x 10.3x Synaptics (US) 1,413 66% 0.9x 1.0x 0.9x 2% 7.3x 7.4x 7.3x (0%) 13% 9.3x 9.2x 7.9x Phison Electronics (AsiaPac) 1,092 62% 0.9x 0.9x 0.8x 4% 5.3x 6.3x 7.0x (13%) 14% 9.4x 12.1x 11.8x Mean 1.6x 1.4x 1.3x 9% 9.1x 10.4x 9.0x 21% 13% 20.1x 14.6x 14.8x Semiconductors Intel (US) 233,863 99% 4.4x 4.0x 3.9x 6% 10.5x 9.4x 8.7x 10% 42% 16.4x 14.0x 13.4x Taiwan Semiconductor (AsiaPac) 153,204 85% 5.5x 5.1x 4.6x 9% 8.3x 7.7x 6.9x 9% 67% 17.1x 16.1x 14.2x NVIDIA (US) 126,012 95% 15.3x 11.2x 10.0x 24% 44.7x 28.0x 25.7x 32% 40% 53.1x 31.1x 28.9x Broadcom (US) 100,563 99% 6.2x 5.6x 5.3x 8% 8.6x 8.9x 8.6x 0% 63% 12.9x 11.7x 10.9x Texas Instruments (US) 94,262 92% 7.3x 6.8x 6.5x 5% 15.7x 14.4x 13.8x 6% 47% 23.6x 19.4x 17.6x ASML (Europe) 72,439 97% 8.4x 6.9x 6.4x 14% 26.6x 22.0x 19.1x 18% 32% 37.3x 29.5x 24.5x Micron (US) 64,723 99% 3.3x 2.4x 2.4x 18% 5.9x 3.7x 3.6x 29% 65% 9.1x 4.9x 5.1x Qualcomm (US) 60,460 84% 3.0x 3.2x 3.0x (0%) 8.5x 10.6x 7.3x 8% 30% 14.5x 18.5x 15.0x SK hynix (AsiaPac) 50,029 97% 2.1x 1.6x 1.5x 17% 3.3x 2.3x 2.4x 18% 67% 6.2x 4.5x 4.9x Applied Materials (US) 45,346 83% 3.4x 2.9x 2.8x 10% 10.9x 9.1x 9.0x 10% 32% 13.6x 10.9x 10.9x Analog Devices (US) 35,930 96% 7.3x 6.9x 6.6x 5% 14.3x 15.0x 13.6x 3% 46% 18.9x 16.7x 16.0x Infineon (Europe) 26,030 93% 3.6x 3.4x 3.2x 7% 13.7x 11.7x 11.0x 12% 29% 27.0x 22.8x 20.7x Microchip Technology (US) 20,127 94% 6.0x 5.6x 5.3x 6% 13.5x 11.5x 11.4x 9% 48% 17.6x 15.1x 14.2x STMicroelectronics (Europe) 17,804 94% 2.2x 1.9x 1.7x 12% 10.7x 8.0x 7.2x 22% 23% 22.0x 15.1x 13.5x Renesas Electronics (AsiaPac) 15,099 70% 2.5x 2.4x 2.2x 5% 10.7x 9.4x 8.5x 12% 25% n/a n/a n/a Skyworks Solutions (US) 14,042 85% 4.3x 4.2x 3.9x 5% 9.7x 9.5x 8.7x 6% 44% 14.4x 13.8x 12.4x Xilinx (US) 13,489 87% 6.3x 5.7x 5.4x 8% 20.0x 17.2x 16.7x 9% 33% 26.6x 22.8x 21.4x Maxim Integrated Products (US) 13,182 79% 6.4x 6.0x 5.7x 6% 15.5x 14.6x 13.9x 6% 41% 23.7x 20.6x 19.2x AMD (US) 11,505 85% 2.5x 2.0x 1.9x 16% 33.2x 17.1x 16.0x 44% 12% 87.6x 25.0x 19.0x MediaTek (AsiaPac) 11,336 84% 1.6x 1.6x 1.4x 8% 21.5x 14.2x 9.9x 47% 11% 23.1x 19.5x 15.0x Sanan Optoelectronics (AsiaPac) 11,197 70% 9.5x 7.3x 5.7x 29% 17.4x 13.7x 11.2x 24% 53% 28.8x 19.9x 16.8x ON Semiconductor (US) 11,096 94% 2.4x 2.2x 2.2x 5% 10.3x 9.3x 8.6x 9% 24% 17.9x 14.2x 12.7x ASE Group (AsiaPac) 10,636 92% 1.3x 1.0x 0.9x 21% 6.9x 4.8x 4.2x 28% 20% 14.7x 13.9x 11.0x Microsemi (US) 8,454 100% 5.3x 4.8x 4.6x 8% 15.2x 14.2x 12.9x 9% 34% 17.3x 17.7x 13.9x Marvell Technology Group (AsiaPac) 7,834 87% 3.8x 3.6x 3.5x 4% 12.9x 11.8x 11.1x 8% 31% 17.8x 15.8x 14.7x SMIC (AsiaPac) 7,775 69% 22.7x 20.6x 18.6x 10% 68.8x 64.2x 55.0x 12% 32% n/m n/m n/m ROHM (AsiaPac) 6,149 77% 2.0x 1.9x 1.7x 7% 8.3x 6.9x 6.0x 18% 27% n/a n/a n/a United Microelectronics (AsiaPac) 6,084 98% 1.4x 1.4x 1.3x 4% 3.6x 3.6x 3.5x 2% 38% 21.3x 20.0x 17.5x Mean 5.0x 4.5x 4.1x 10% 15.4x 13.1x 11.7x 15% 36% 22.5x 16.9x 14.9x

Source: CapitalIQ (as of 29 May 2018). 5 View Our Internet Trading Comps Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 Healthcare & Science Quintiles (US) 25,965 90% 3.7x 3.0x 2.8x 15% 14.8x 13.7x 12.7x 8% 21% 19.7x 17.9x 16.1x Cerner (US) 16,667 81% 3.7x 3.6x 3.3x 6% 11.5x 11.8x 10.8x 3% 30% 24.1x 23.4x 20.8x ResMed (US) 12,581 96% 6.7x 6.0x 5.5x 10% 24.0x 20.3x 18.9x 13% 29% 34.8x 28.6x 26.3x M3 (AsiaPac) 11,885 94% 16.8x 13.8x 11.8x 19% 49.3x 43.7x 37.1x 15% 32% n/a n/a n/a Athenahealth (US) 5,433 96% 5.2x 4.6x 4.2x 11% 23.8x 16.8x 14.7x 27% 28% 75.7x 34.5x 29.5x Allscripts (US) 3,762 79% 2.4x 2.0x 1.9x 12% 11.9x 10.0x 9.3x 13% 20% 20.0x 16.1x 14.1x Cotiviti (US) 3,204 73% 5.4x 4.9x 4.5x 10% 13.9x 12.1x 11.2x 11% 40% 21.4x 17.3x 15.5x Teladoc (US) 2,819 99% 14.0x 9.1x 7.2x 40% n/m n/m 90.6x n/a 2% n/m n/m n/m Evolent Health (US) 1,286 73% 3.4x 2.6x 2.2x 25% n/m 69.7x 35.3x n/a 4% n/m n/m n/m HealthStream (US) 632 91% 3.0x 3.2x 3.1x (2%) 19.5x 18.6x 17.0x 7% 17% n/m 95.0x 78.2x CPSI (US) 508 92% 2.2x 2.0x 2.0x 6% 12.2x 11.2x 11.5x 3% 18% 20.7x 14.1x 14.3x Mean 6.1x 5.0x 4.4x 14% 20.1x 22.8x 24.5x 11% 22% 30.9x 30.9x 26.9x Internet of Things (IoT) Forescout Technologies (US) 866 79% 4.6x 3.6x 3.0x 23% n/m n/m n/m (62%) (11%) n/m n/m n/m Impinj (US) 321 31% 2.9x 3.3x 2.8x 1% n/m n/m n/m 112% (22%) n/m n/m n/m ShotSpotter (US) 249 86% 12.4x 8.6x 6.5x 39% n/m n/m 33.1x 163% 9% n/m n/m 99.1x Internet of Things (Canada) 9 47% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Mean 6.6x 5.2x 4.1x 18% - - 33.1x 39% 5% - - 99.1x Online Brokerage Charles Schwab (US) 46,092 92% n/m n/m n/m 15% n/m n/m n/m 21% 49% 33.9x 22.5x 19.0x TD Ameritrade (US) 23,927 93% n/m n/m n/m 22% n/m n/m n/m 30% 43% 33.3x 17.6x 14.7x E*TRADE (US) 17,105 94% n/m n/m n/m 14% n/m n/m n/m 17% 52% 25.4x 17.5x 16.1x IG Group (Europe) 3,430 95% n/m n/m n/m 2% n/m n/m n/m 1% 49% 16.7x n/a n/a Plus500 (Middle East) 1,921 95% n/m n/m n/m 17% n/m n/m n/m 17% 56% 10.2x 7.4x 7.2x Alfa Financial Software (Europe) 1,051 58% 10.4x 9.8x 8.7x 9% 22.5x 20.8x 18.7x 10% 47% 30.2x 28.0x 25.3x SwissQuote (Europe) n/m 97% n/m n/m n/m 10% n/a n/a n/a n/a - n/a 20.3x 17.6x Interactive Brokers (US) n/m 92% n/m n/m n/m 18% n/m n/m n/m 43% 94% 48.0x 31.7x 27.9x Mean 10.4x 9.8x 8.7x 13% 22.5x 20.8x 18.7x 20% 49% 28.2x 20.7x 18.2x Online Travel OTAs Priceline Group (US) 88,398 93% 8.1x 7.0x 6.2x 15% 21.6x 17.9x 15.9x 17% 39% 26.9x 23.2x 20.5x Ctrip.com (AsiaPac) 21,501 75% 5.9x 5.0x 4.0x 21% 29.8x 25.6x 17.7x 30% 20% 42.1x 31.7x 22.8x Expedia (US) 16,495 73% 1.9x 1.7x 1.5x 12% 10.9x 10.3x 8.9x 11% 16% 24.1x 22.1x 18.7x TripAdvisor (US) 5,377 98% 4.0x 3.8x 3.5x 7% 19.4x 17.4x 15.8x 11% 22% 43.6x 36.3x 31.9x MakeMyTrip (AsiaPac) 2,693 92% 6.1x 4.8x 4.1x 22% n/m n/m n/m (29%) (21%) n/m n/m n/m Trivago (Europe) 1,266 19% 1.4x 1.4x 1.2x 7% n/m n/m n/m n/a (4%) n/m n/m n/m Despegar.com (LatAm) 1,045 62% 2.3x 1.9x 1.6x 22% 14.6x 11.4x 9.4x 24% 17% 39.3x 26.4x 20.3x Webjet (AsiaPac) 978 94% 5.8x 4.9x 4.0x 20% 19.5x 15.3x 11.5x 30% 32% 35.1x 24.2x 17.4x eDreams ODIGEO (Europe) 828 75% 1.6x 1.6x 1.5x 5% 7.1x 6.9x 6.4x 5% 22% 12.3x 10.2x 8.6x On The Beach (Europe) 668 74% 6.6x 5.6x 4.8x 18% 18.4x 14.9x 12.2x 23% 37% 26.0x 21.4x 17.6x Hostelworld (Europe) 376 85% 3.8x 3.7x 3.4x 6% 12.8x 13.5x 11.4x 6% 27% 17.1x 18.4x 15.4x Tuniu (AsiaPac) 328 67% 0.2x 0.1x 0.1x 21% n/m n/m 29.2x n/a (8%) n/m 59.2x 8.8x HolidayCheck (Europe) 157 93% 1.3x 1.2x 1.1x 10% 82.2x 21.9x 14.3x 140% 6% n/m n/m 69.5x Travelzoo (US) 155 97% 1.7x 1.6x 1.5x 9% 28.4x 18.8x 14.1x 42% 8% n/m 38.6x 29.4x Lastminute.com (Europe) 113 82% 0.5x 0.5x 0.5x 4% 7.4x 5.9x 5.8x 13% 8% n/a n/a n/a Asiatravel (AsiaPac) 9 41% n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Mean 3.4x 3.0x 2.6x 13% 22.7x 15.0x 13.3x 25% 15% 29.6x 28.3x 23.4x GDS Amadeus IT (Europe) 31,695 99% 6.5x 6.3x 5.9x 5% 17.0x 15.8x 14.6x 8% 40% 28.6x 27.1x 25.4x Sabre Corp (US) 8,438 97% 2.7x 2.6x 2.4x 6% 9.1x 8.9x 8.4x 4% 29% 17.5x 16.4x 14.9x Travelport (Europe) 3,709 96% 1.8x 1.7x 1.6x 5% 7.3x 7.2x 6.8x 4% 23% 13.1x 12.1x 10.9x Mean 3.7x 3.5x 3.3x 9% 11.1x 10.6x 9.9x 34% 15% 19.7x 18.6x 17.1x Payments PayPal (US) 74,733 94% 6.7x 5.6x 4.9x 17% 25.6x 21.5x 18.2x 19% 26% 42.0x 33.9x 28.4x First Data (US) 33,773 96% 3.2x 4.5x 4.3x (13%) 12.8x 11.7x 11.0x 8% 38% 12.5x 12.8x 11.5x Worldpay (US) 27,327 91% 14.9x 8.1x 7.4x 42% 31.1x 17.1x 14.8x 45% 48% 36.2x 19.6x 16.3x Square (US) 19,242 97% 23.0x 15.5x 11.8x 40% n/m 88.1x 51.7x 78% 18% n/m n/m 61.1x Wirecard (Europe) 14,969 97% 10.1x 7.6x 6.2x 27% 36.4x 27.5x 21.4x 30% 28% 63.5x 45.9x 34.3x Shopify (Canada) 11,741 93% 20.5x 13.3x 9.7x 45% n/m n/m n/m 121% 4% n/m n/m n/m Ingenico (Europe) 5,716 72% 2.3x 2.1x 2.0x 8% 11.3x 10.7x 9.7x 8% 20% 14.4x 13.4x 11.9x Q2 Holdings (US) 2,016 98% 12.0x 9.8x 7.9x 23% n/m n/m 66.7x 89% 10% n/m n/m n/m Qiwi (Europe) 609 63% 0.1x 0.0x 0.0x 19% 0.1x 0.1x 0.1x 28% 33% 0.3x 0.2x 0.2x Boku (US) 232 91% 8.4x 6.3x 5.0x 29% n/m 44.0x 17.2x n/a 14% n/m n/m 27.5x Intershop Communications (Europe) 55 78% 1.5x 1.5x 1.3x 8% 18.0x 21.7x 14.4x 12% 7% n/m n/m 54.8x Seamless Distribution (Europe) 4 7% 0.2x 0.3x 0.3x (6%) n/m n/m 2.5x n/a (10%) n/a n/m 9.2x Mean 8.6x 6.2x 5.1x 20% 19.3x 26.9x 20.7x 44% 20% 28.1x 21.0x 25.5x Search / Portals Alphabet (US) 555,252 89% 5.8x 4.7x 4.0x 21% 14.6x 12.8x 10.8x 16% 37% 32.3x 23.6x 21.5x Tencent (AsiaPac) 423,612 84% 16.0x 11.3x 8.4x 38% 41.1x 30.4x 23.9x 31% 37% 57.6x 44.3x 33.6x Baidu (AsiaPac) 66,750 85% 5.9x 4.8x 4.0x 22% 22.7x 16.7x 13.9x 28% 29% 25.9x 23.1x 19.2x Naver (AsiaPac) 13,497 69% 3.6x 3.1x 2.7x 16% 12.1x 11.8x 9.9x 10% 26% 23.6x 22.8x 18.9x Yahoo! Japan (AsiaPac) 13,282 72% 1.9x 1.8x 1.6x 7% 5.9x 6.9x 6.7x (6%) 25% n/a n/a n/a Yandex (Europe) 8,502 73% 0.1x 0.1x 0.1x 28% 0.4x 0.3x 0.2x 36% 31% 0.7x 0.5x 0.3x Sogou (AsiaPac) 2,283 65% 2.9x 2.0x 1.5x 37% 17.2x 14.6x 9.3x 36% 14% 36.2x 25.5x 16.6x Wirtualna Polska (Europe) 418 94% 3.9x 3.4x 3.1x 11% 12.9x 11.2x 10.3x 12% 30% 39.4x 25.4x 18.3x Sohu.com (AsiaPac) 415 52% 0.3x 0.2x 0.2x 15% 4.1x 5.2x 2.1x 39% 4% n/m n/m n/m Phoenix New Media (AsiaPac) 271 69% 1.3x 1.3x 1.1x 9% 30.1x 30.0x 17.5x 31% 4% 45.3x 53.2x 24.1x Mean 4.2x 3.3x 2.7x 21% 16.1x 14.0x 10.5x 23% 24% 32.6x 27.3x 19.1x

Source: CapitalIQ (as of 29 May 2018). 6 View Our Internet Trading Comps Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 Social Networking Facebook (US) 427,291 95% 12.3x 8.7x 6.9x 33% 18.7x 14.2x 11.4x 28% 62% 30.8x 24.2x 20.3x Twitter (US) 19,739 93% 9.5x 7.8x 7.0x 17% 28.8x 20.4x 17.4x 29% 38% 88.2x 45.1x 39.1x Weibo (AsiaPac) 18,808 72% 19.1x 12.0x 8.7x 48% 48.8x 30.1x 19.7x 57% 40% 59.4x 35.7x 24.6x Match Group (US) 10,652 84% 9.4x 7.3x 6.4x 21% 26.4x 19.2x 16.4x 27% 38% 49.5x 28.0x 22.7x Snap (US) 9,926 49% 14.5x 9.7x 6.7x 47% n/m n/m n/m (21%) (60%) n/m n/m n/m Momo (AsiaPac) 7,131 96% 6.3x 4.1x 3.5x 33% 22.7x 14.4x 12.3x 36% 28% 26.1x 17.3x 15.0x LINE (AsiaPac) 6,704 72% 4.9x 4.2x 3.6x 16% 23.9x 36.5x 20.1x 9% 11% n/a n/a n/a Daum Kakao (AsiaPac) 5,365 64% 3.4x 2.8x 2.5x 17% 22.2x 24.7x 17.5x 13% 11% 61.1x 61.2x 41.5x Mail.ru (Europe) 4,989 73% 0.1x 0.1x 0.1x 25% 0.3x 0.3x 0.2x 25% 31% 0.4x 0.4x 0.3x YY (AsiaPac) 4,855 75% 3.2x 2.3x 1.9x 28% 12.3x 9.6x 7.8x 26% 24% 17.4x 13.2x 10.9x SINA (AsiaPac) 4,283 72% 3.2x 2.2x 1.7x 38% 9.3x 7.3x 4.9x 39% 29% 31.0x 25.4x 16.8x Meitu (AsiaPac) 3,346 61% 6.8x 3.8x 2.5x 66% n/m 40.5x 19.5x n/a 9% n/m 54.0x 27.6x XING (Europe) 1,415 87% 7.7x 6.1x 5.3x 20% 24.7x 18.8x 16.4x 23% 33% 55.0x 43.4x 34.2x Mixi (AsiaPac) 977 49% 0.6x 0.7x 0.7x (11%) 1.6x 1.7x 2.1x (13%) 40% n/a n/a n/a Renren (AsiaPac) 588 47% 3.4x 1.3x n/a (100%) n/m n/m n/a (100%) (8%) n/m n/m n/a MeetMe (US) 230 61% 2.2x 1.7x 1.7x 14% 8.7x 11.9x 9.6x (5%) 15% 8.7x 13.6x 9.9x Mean 6.6x 4.7x 3.9x 20% 19.1x 17.8x 12.5x 11% 21% 38.9x 30.1x 21.9x Software Cloud Infrastructure, Hosting & VoIP VeriSign (US) 13,780 100% 13.7x 13.1x 12.6x 4% 19.8x 18.4x 17.8x 6% 71% 32.2x 28.5x 26.5x United Internet (Europe) 12,537 89% 3.0x 2.5x 2.3x 14% 12.1x 10.4x 9.4x 13% 24% 22.8x 24.3x 19.4x GoDaddy (US) 11,369 99% 5.9x 5.0x 4.5x 15% 22.6x 17.7x 16.3x 18% 28% 28.7x 21.6x 16.9x Akamai Technologies (US) 11,074 97% 5.1x 4.7x 4.3x 9% 13.9x 12.1x 10.9x 13% 39% 29.3x 23.1x 20.5x Nutanix (US) 6,951 87% 8.2x 6.6x 5.5x 23% n/m n/m 61.1x n/a (7%) n/m n/m n/m RingCentral (US) 4,927 92% 11.4x 8.9x 7.2x 26% n/m 74.4x 57.4x 75% 12% n/m n/m 83.8x New Relic (US) 4,577 100% 16.2x 12.2x 9.7x 29% n/m n/m 81.2x 297% 11% n/m n/m n/m Twilio (US) 4,207 95% 12.5x 9.0x 7.3x 31% n/m n/m n/m n/a 2% n/m n/m n/m j2 Global (US) 4,200 94% 4.3x 3.9x 3.7x 9% 10.4x 9.8x 8.7x 9% 40% 15.0x 13.9x 12.3x Endurance International (US) 2,665 95% 2.6x 2.7x 2.6x (0%) 9.0x 9.8x 9.6x (3%) 27% 9.2x 10.8x 11.4x FireEye (US) 2,593 85% 4.0x 3.6x 3.4x 9% 34.2x 28.5x 25.4x 16% 13% n/m n/m 88.1x Vonage (US) 2,510 95% 2.9x 2.8x 2.7x 4% 16.1x 14.9x 14.0x 7% 19% 37.2x 26.4x 26.6x Qualys (US) 2,303 90% 11.6x 9.6x 8.2x 19% 31.5x 26.3x 22.2x 19% 36% 71.5x 48.9x 40.7x Presidio (US) 1,822 68% 0.7x 0.7x 0.7x 3% 8.8x 9.5x 8.6x 1% 8% 10.3x 9.4x 8.1x Econocom Group (Europe) 1,617 66% 0.6x 0.5x 0.5x 4% 9.4x 8.6x 7.7x 10% 6% 12.7x 12.5x 10.8x Switch (US) 1,424 51% 4.4x 3.8x 3.2x 16% 8.5x 7.6x 6.4x 16% 51% n/m 37.9x 13.2x 8x8 (US) 1,308 78% 5.4x 4.5x 3.8x 19% 71.7x n/m n/m (57%) (1%) n/m n/m n/m Carbonite (US) 1,052 100% 4.9x 4.0x 3.5x 18% 25.7x 15.0x 13.0x 41% 26% 48.1x 22.3x 18.1x Acacia Communications (US) 897 67% 2.7x 3.6x 3.0x (6%) 13.4x 45.2x 19.6x (17%) 8% 18.8x n/m 39.3x SendGrid (US) 881 82% 9.3x 7.2x 5.8x 27% 94.7x 64.7x 49.3x 39% 11% n/m n/m n/m SecureWorks (US) 636 79% 1.6x 1.4x 1.3x 10% n/m n/m 51.7x n/a (1%) n/m n/m n/m Tucows Inc. (Canada) 621 87% 2.2x 1.9x 1.8x 10% 18.4x 14.1x 11.4x 27% 13% n/a n/a n/a Bandwith (US) 498 94% 3.5x 3.0x 2.6x 16% 27.3x n/m n/m n/a 2% 74.6x n/m n/m Sonus Networks (US) 488 64% 1.7x 1.0x 1.0x 33% 16.6x 7.6x 5.5x 73% 13% 24.5x 15.0x 10.2x Aquantia (US) 296 65% 3.3x 2.7x 2.2x 23% n/m 43.5x 16.0x 186% 6% n/m n/m 29.2x Tintri (US) 44 6% 0.4x 0.5x 0.4x (3%) n/m n/m n/m (50%) (36%) n/m n/m n/m Mean 5.5x 4.6x 4.0x 14% 24.4x 23.0x 23.8x 33% 16% 31.1x 22.6x 27.9x Applications Microsoft (US) 613,967 99% 7.0x 6.2x 5.7x 11% 17.8x 14.8x 13.2x 16% 42% 28.2x 24.4x 22.8x Oracle (US) 155,509 86% 4.6x 4.4x 4.3x 4% 10.0x 9.5x 9.1x 5% 47% 15.4x 13.7x 13.2x SAP (Europe) 113,414 95% 4.8x 4.7x 4.3x 5% 13.8x 13.5x 12.7x 4% 34% 22.5x 22.0x 20.0x Adobe (US) 99,538 98% 15.9x 13.0x 11.0x 20% 37.8x 28.5x 23.6x 27% 46% 56.5x 37.0x 32.8x Intuit (US) 42,396 99% 9.0x 7.9x 7.2x 12% 24.6x 21.9x 19.7x 12% 36% 42.6x 34.1x 28.6x VMware (US) 41,425 83% 6.1x 5.5x 5.1x 9% 16.4x 15.2x 14.0x 8% 36% 26.1x 22.4x 20.5x Autodesk (US) 24,835 92% 14.0x 11.5x 9.0x 25% n/m 78.8x 29.6x n/a 15% n/m n/m 40.8x Constellation Software (Canada) 13,973 96% 8.6x 6.8x 6.0x 19% 32.9x 27.0x 23.1x 19% 25% 46.1x 35.0x 31.0x Symantec (US) 13,786 61% 3.2x 3.3x 3.2x 1% 7.0x 7.6x 6.9x 1% 44% 13.5x 12.2x 11.0x Citrix (US) 13,014 98% 5.3x 5.2x 5.0x 3% 14.8x 15.2x 15.6x (3%) 34% 19.5x 19.5x 18.7x Check Point Software Technologies (Middle11,974 East) 81% 7.4x 7.3x 7.0x 3% 13.3x 13.5x 13.0x 1% 54% 17.5x 17.2x 16.6x Sage Group (Europe) 9,000 80% 4.6x 4.2x 4.0x 7% 15.4x 14.5x 13.3x 8% 29% 21.6x 20.3x 18.6x Tableau (US) 6,167 98% 8.2x 7.3x 6.4x 13% n/m n/m 89.8x 18% 2% n/m n/m n/m Trend Micro (AsiaPac) 5,541 91% 4.7x 4.3x 4.0x 8% 13.8x 13.3x 12.4x 5% 32% n/a n/a n/a Ceridian HCM Holding (US) 5,164 88% n/a 8.1x 7.6x n/a n/a 39.9x 33.6x n/a 20% n/a n/m 66.1x LogMeIn (US) 4,569 80% 5.2x 4.3x 4.0x 14% 14.3x 11.8x 10.6x 16% 37% 26.0x 20.2x 17.9x Nemetschek (Europe) 3,886 92% 9.8x 8.6x 7.5x 14% 37.0x 32.7x 28.1x 15% 26% 61.6x 53.0x 46.0x Teradata (US) 3,701 90% 2.0x 2.0x 1.9x 2% 11.5x 11.5x 10.3x 6% 17% 28.7x 27.3x 22.4x MongoDB (US) 1,764 98% 13.4x 9.5x 7.1x 38% n/m n/m n/m (16%) (32%) n/m n/m n/m Appian (US) 1,615 73% 11.1x 9.1x 7.8x 20% n/m n/m n/m 11% (18%) n/m n/m n/m Carbon Black (US) 1,571 89% n/a 9.0x 7.3x n/a n/a n/m n/m n/a (27%) n/a n/m n/m MicroStrategy (US) 679 66% 1.6x 1.5x 1.5x 2% 7.6x 16.8x 13.8x (26%) 9% 26.8x 46.4x 37.5x Rosetta Stone (US) 290 98% 1.8x 1.9x 1.7x 2% 30.3x n/m 35.3x (7%) (4%) n/m n/a n/a Gridsum (AsiaPac) 168 45% 0.3x 0.2x 0.1x 48% n/m 1.5x 0.5x n/a 13% n/m 1.9x 0.6x Perion (Middle East) 91 61% 0.4x 0.4x n/a (100%) 4.1x 3.7x n/a (100%) 10% 5.0x 5.0x n/a MuleSoft (US) - 100% n/m n/a n/a (100%) n/m n/a n/a (100%) n/a n/m n/a n/a NIC (Africa) - 85% n/m n/m n/m 3% n/a n/a n/a n/a - 6.1x 4.8x 5.6x Mean 6.5x 5.9x 5.4x 3% 17.9x 19.6x 20.4x (4%) 20% 27.3x 23.1x 24.8x

Source: CapitalIQ (as of 29 May 2018). 7 View Our Internet Trading Comps Trading Comparables

29-May-18 Enterprise Share Price EV / Revenue CAGR EV / EBITDA CAGR Margin P/E Company Value (€m) (% of year high) 2017 2018 2019 17-19E 2017 2018 2019 17-19E 2018E 2017 2018 2019 Software (Cont'd) Software as a Service (SaaS) Salesforce.com (US) 79,602 97% 8.8x 7.2x 6.0x 21% 40.9x 31.2x 25.0x 28% 23% 96.1x 56.7x 44.5x Workday (US) 22,744 93% 12.3x 9.8x 7.9x 24% 75.6x 52.5x 38.6x 40% 19% n/m 96.4x 67.4x Xero (US) 10,066 74% 1.1x 1.2x 1.2x (2%) 6.8x 6.3x 6.3x 4% 18% 8.0x 7.5x 7.3x Dropbox (US) 9,735 86% n/a 8.3x 7.1x n/a n/a 39.0x 33.0x n/a 21% n/a n/m 69.7x Veeva Systems (US) 8,598 95% 14.6x 12.0x 10.2x 20% 43.7x 35.9x 30.4x 20% 33% 77.2x 50.8x 42.8x Ultimate Software Group (US) 6,839 98% 8.5x 7.1x 6.0x 18% 36.8x 28.6x 23.6x 25% 25% 72.5x 46.5x 38.1x DocuSign (US) 6,764 99% n/a 12.5x 10.3x n/a n/a n/m n/m n/a 3% n/a n/m n/m Paycom (US) 5,291 88% 14.1x 11.2x 9.1x 25% 46.0x 27.4x 22.4x 43% 41% 83.1x 41.7x 33.8x Pivotal Software (US) 5,053 92% n/a 9.4x 7.5x n/a n/a n/m n/m n/a (14%) n/a n/m n/m Zendesk (US) 4,837 98% 13.1x 9.8x 7.6x 31% n/m n/m 83.7x 120% 7% n/m n/m n/m Okta (US) 4,747 100% 21.1x 15.8x 12.0x 33% n/m n/m n/m (33%) (17%) n/m n/m n/m RealPage (US) 4,611 96% 7.9x 6.2x 5.5x 20% 32.8x 23.5x 19.8x 29% 26% 62.9x 37.5x 30.3x Blackbaud (US) 4,397 85% 6.4x 5.8x 5.3x 10% 26.1x 23.1x 20.7x 12% 25% 44.9x 34.0x 29.5x Medidata Solutions (US) 3,746 88% 7.9x 6.8x 5.8x 17% 32.9x 26.5x 21.3x 24% 26% 58.5x 43.1x 34.4x Wix.com (Middle East) 3,225 95% 8.8x 6.2x 5.0x 33% 55.4x 34.3x 22.1x 58% 18% n/m n/m 53.0x Box (US) 3,194 95% 7.3x 6.1x 5.0x 21% n/m n/m 80.5x n/a 2% n/m n/m n/m Ellie Mae (US) 2,980 93% 8.3x 6.9x 5.9x 19% 28.8x 26.3x 20.5x 19% 26% 67.0x 56.1x 39.4x Zscaler (US) 2,719 74% 20.6x 15.4x 11.6x 33% n/a n/m n/m n/a (10%) n/a n/m n/m Paylocity (US) 2,612 99% 9.1x 7.3x 6.0x 23% 45.6x 33.6x 25.4x 34% 22% 75.6x 42.3x 45.8x Cornerstone Ondemand (US) 2,368 98% 5.7x 5.4x 4.9x 8% 41.9x 29.8x 21.0x 41% 18% n/m 63.8x 39.4x Coupa (US) 2,316 94% 14.7x 11.6x 9.3x 26% n/m n/m n/m n/a (2%) n/m n/m n/m SmartSheet (US) 2,038 96% n/a 15.2x 10.8x n/a n/a n/m n/m n/a (32%) n/a n/m n/m Altair Engineering (US) 1,885 94% 6.6x 5.8x 5.2x 13% 97.8x 64.6x 40.6x 55% 9% n/m n/m 58.6x Zuora (US) 1,853 93% n/a 10.0x 7.9x n/a n/a n/m n/m n/a (24%) n/a n/m n/m SailPoint (US) 1,838 93% 12.2x 9.3x 7.6x 27% 99.9x n/m 80.4x 12% 8% n/m n/m n/m Blucora (US) 1,779 100% 4.1x 3.7x 3.5x 9% 20.6x 17.8x 15.6x 15% 21% 28.7x 20.0x 17.4x BlackLine (US) 1,769 89% 11.7x 9.1x 7.3x 27% n/m n/m n/m 246% 5% n/m n/m n/m Cloudera (US) 1,713 68% 5.5x 4.5x 3.8x 20% n/m n/m n/m (21%) (19%) n/m n/m n/m Five9 (US) 1,661 97% 9.7x 8.1x 6.9x 19% n/m 66.1x 48.4x 57% 12% n/m n/m 73.1x Alteryx (US) 1,560 83% 14.1x 9.7x 7.4x 38% n/m n/m n/m (32%) (6%) n/m n/m n/m Talend (Europe) 1,410 97% 11.0x 8.0x 6.3x 32% n/m n/m n/m (91%) (5%) n/m n/m n/m Yext (US) 1,121 95% 7.6x 5.8x 4.4x 32% n/m n/m n/m (7%) (17%) n/m n/m n/m Apptio (US) 1,089 96% 6.8x 5.5x 4.7x 20% n/m n/m 75.9x n/a 3% n/m n/m n/m Everbridge (US) 1,072 99% 11.9x 8.9x 7.1x 30% n/m n/m n/m n/a (2%) n/m n/m n/m Benefitfocus (US) 988 91% 4.5x 4.5x 4.0x 6% 60.3x n/m 55.0x 5% 3% n/m n/m n/m SPS Commerce (US) 975 100% 5.1x 4.6x 4.2x 10% 35.3x 25.5x 21.3x 29% 18% 81.0x 51.6x 43.5x LivePerson (US) 967 100% 5.1x 4.6x 4.1x 11% 61.4x 49.4x 38.0x 27% 9% n/m n/m n/m Synchronoss (US) 358 35% 0.9x 1.0x 1.0x (7%) 3.6x 5.1x 6.7x (27%) 19% 8.2x 46.5x n/m Cardlytics (US) 340 93% 3.0x 2.5x 1.6x 37% n/m n/m 45.7x n/a (10%) n/m n/m n/m ChannelAdvisor (US) 292 96% 2.7x 2.6x 2.4x 7% 72.2x 41.9x 31.6x 51% 6% n/m n/m n/m Veritone (US) 246 28% 18.5x 13.4x 7.2x 60% n/m n/m n/m 13% (190%) n/m n/m n/m EQS Group (Europe) 122 95% 3.8x 3.3x 2.9x 16% 36.0x 75.9x 35.5x 1% 4% n/m n/m n/m Callidus (US) - 88% n/m n/a n/a (100%) n/m n/a n/a (100%) n/a n/m n/a n/a Mean 9.1x 7.7x 6.2x 18% 45.5x 34.7x 35.3x 22% 3% 58.7x 46.3x 42.7x

Source: CapitalIQ (as of 29 May 2018). 8 View Our Internet Trading Comps www.noah-conference.com

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