Mortgage Technology July 2018 Mortgage Technology July 2018 Sector Dashboard [4]

Sectorwatch: Mortgage Technology July 2018 Mortgage Technology July 2018 Sector Dashboard [4]

Public Basket Performance [5]

Operational Metrics [7]

Valuation Comparison [10]

Recent Deals [13]

Appendix [14]

7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. We publish our sectorwatch, a review of M&A and operational trends in the industries we focus.

Dashboard Valuation Comparison • Summary metrics on the sector • Graphical, detailed comparison of valuation • Commentary on market momentum by multiples for the public basket comparing the most recent 12-month performance against the last 3-year averages.

Public Basket Performance Recent Deals • Summary valuation and operating metrics for • The most recently announced deals in the a basket of comparable public companies sector

3 Dashboard

Operating Metrics Revenue Growth Momentum 1 - year revenue growth compared to revenue growth Median LTM GP Margin % 0.06 average for last 3 years 60.3% Current revenue growth rate exceeds the average of the last 3 years by this amount, indicating that market momentum is increasing Median LTM EBITDA Margin % 16.3%

Pricing / Gross Margin Momentum Median LTM Rev. Growth % 12.8% 1 - year gross profit % compared to gross profit % -4.7% average for last 3 years 0% 15% 30% 45% 60% 75% Current gross profit margin is less than the average of the last 3 years gross profit margins, indicating customer pricing power Valuation

Profitability Momentum Median Price / LTM Earnings 26.4x 1 - year EBITDA % compared to EBITDA % average for -2.4% last 3 years Median TEV / LTM EBIT 23.0x Current EBITDA margin is less than the average of the last 3 years EBITDA margins, which may signal further consolidation Median TEV / LTM EBITDA 19.3x

Median TEV / LTM Revenue 4.9x

0x 10x 20x 30x

4 Public Basket

Rev TEV / LTM Rev Growth EBITDA TEV / EBITDA Rev / Company TEV $m $m YoY GP % % Rev X X # FTEs FTE $k

LendingTree, Inc. 2,675 666 58% 97% 13% 4.0 31.5 523 1,274 Ellie Mae, Inc. 3,381 442 16% 60% 16% 7.7 47.0 1,480 299 Realogy Holdings Corp. 6,575 6,140 4% 47% 11% 1.1 9.3 11,800 520 Zillow Group, Inc. 11,797 1,131 25% 92% 6% 10.4 168.9 3,181 356 Wolters Kluwer N.V. 18,346 5,310 3% 70% 27% 3.5 12.9 18,315 290 Fiserv, Inc. 35,323 5,742 3% 47% 32% 6.2 19.3 24,000 239 Fidelity National Information Services, Inc. 44,097 9,041 -2% 32% 28% 4.9 17.3 53,000 171 Intuit Inc. 52,002 5,818 14% 84% 31% 8.9 28.8 8,200 710 Accenture plc 103,111 38,574 13% 31% 16% 2.7 16.4 425,000 91

Average 30,812 8,096 15% 62% 20% 5.5 39.0 60,611 439 Median 18,346 5,742 13% 60% 16% 4.9 19.3 11,800 299 share price as of 11Jul18

5 Public Basket Valuation Trends

20x

18x Public EBITDA Multiples over Time 20x 16x 15x 10x 14x 15.6x 5x

12x 0x

Jul-14 Jul-15 Jul-16 Jul-17 Jul-18

Jan-14 Jan-15 Jan-16 Jan-17 Jan-18

Oct-13 Oct-14 Oct-15 Oct-16 Oct-17

Apr-15 Apr-16 Apr-17 Apr-18 10x Apr-14 TEV/EBITDA - Median TEV/EBITDA - Average 8x Public Revenue Multiples over Time 6x 4.3x 8x 4x 6x 4x 2x 2x 0x

Jul-14 Jul-15 Jul-16 Jul-17 Jul-18

Jan-14 Jan-15 Jan-16 Jan-17 Jan-18

Oct-13 Oct-14 Oct-15 Oct-16 Oct-17

Apr-14 Apr-15 Apr-16 Apr-17 Apr-18

Jul-14 Jul-15 Jul-16 Jul-17 Jul-18

Jan-14 Jan-15 Jan-16 Jan-17 Jan-18

Oct-13 Oct-14 Oct-15 Oct-16 Oct-17

Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 TEV/Revenue - Median TEV/Revenue - Average TEV/EBITDA - Median TEV/Revenue - Median TEV/EBITDA - Average TEV/Revenue - Average

6 Operational Metrics

LTM Gross Profit Margin % LTM EBITDA %

LendingTree, Inc. Fiserv, Inc.

Zillow Group, Inc. Intuit Inc.

Fidelity National Intuit Inc. Information Services,…

Wolters Kluwer N.V. Wolters Kluwer N.V.

Ellie Mae, Inc. Accenture plc

Fiserv, Inc. Ellie Mae, Inc.

Realogy Holdings Corp. LendingTree, Inc.

Fidelity National Information Realogy Holdings Corp. Services, Inc.

Accenture plc Zillow Group, Inc.

Median Median

- 20% 40% 60% 80% 100% - 10% 20% 30% 40%

7 Operational Metrics

LTM Revenue per LTM Revenue Growth % Full Time Employee x 000’s

LendingTree, Inc. LendingTree, Inc.

Zillow Group, Inc. Intuit Inc.

Ellie Mae, Inc. Realogy Holdings Corp.

Intuit Inc. Zillow Group, Inc.

Accenture plc Ellie Mae, Inc.

Realogy Holdings Corp. Wolters Kluwer N.V.

Wolters Kluwer N.V. Fiserv, Inc.

Fiserv, Inc. Fidelity National Information Services, Inc.

Fidelity National Information Services, Inc. Accenture plc

Median Median

(10%) 10% 30% 50% 70% $- $500 $1,000 $1,500

8 Operational Metrics

Average Days Accounts Receivable Turnover Sales Outstanding

Realogy Holdings Corp. Wolters Kluwer N.V.

Zillow Group, Inc. Accenture plc

Fidelity National Intuit Inc. Information Services,…

LendingTree, Inc. Fiserv, Inc.

Ellie Mae, Inc. Ellie Mae, Inc.

Fiserv, Inc. LendingTree, Inc.

Fidelity National Intuit Inc. Information Services, Inc.

Accenture plc Zillow Group, Inc.

Wolters Kluwer N.V. Realogy Holdings Corp.

Median Median

0x 10x 20x 30x 40x 0 20 40 60 80 100

9 Valuation

TEV / LTM Revenue TEV / LTM EBITDA

Zillow Group, Inc. Zillow Group, Inc.

Intuit Inc. Ellie Mae, Inc.

Ellie Mae, Inc. LendingTree, Inc.

Fiserv, Inc. Intuit Inc.

Fidelity National Fiserv, Inc. Information Services,…

Fidelity National LendingTree, Inc. Information Services,…

Wolters Kluwer N.V. Accenture plc

Accenture plc Wolters Kluwer N.V.

Realogy Holdings Corp. Realogy Holdings Corp.

Median Median

0x 4x 8x 12x 16x 20x 0x 50x 100x 150x 200x

10 Valuation

TEV / LTM EBIT Price / LTM Earnings

Ellie Mae, Inc. Ellie Mae, Inc.

LendingTree, Inc. LendingTree, Inc.

Intuit Inc. Intuit Inc.

Fidelity National Information Services, Accenture plc Inc. Fidelity National Fiserv, Inc. Information Services, Inc.

Wolters Kluwer N.V. Fiserv, Inc.

Accenture plc Wolters Kluwer N.V.

Realogy Holdings Corp. Realogy Holdings Corp.

Median Median

0x 30x 60x 90x 120x 0x 20x 40x 60x 80x 100x

11 Valuation

Historical Valuation Multiples Historical Valuation Multiples versus Gross Profit versus Revenue Growth Rate

180x 120% 180x 70%

160x 57.8% 97.1% 160x 60% 92.1% 100% 140x 140x 84.3% 50% 120x 80% 120x 69.8% 40% 100x 100x 60% 24.8% 30% 80x 60.3% 80x 47.2% 20% 60x 46.7% 40% 60x 12.8% 14.3% 16.4% 3.1% 10% 40x 32.5% 40x 4.4% 31.4% (1.8%) 20% 20x 20x 3.2% 0%

9x 13x 16x 17x 19x 29x 32x 47x 169x

EBITDA(x) EBITDA(x) LTM GP% LTM 9x 13x 16x 17x 19x 29x 32x 47x 169x

0x 0% 0x -10% RGR% LTM

EBITDA(x) LTM GP% EBITDA(x) LTM RGR%

12 Recent Transactions Total Transaction Target TEV / TEV / Date Target Buyer / Investor Value Revenue Revenue EBITDA

27Jun18 SimpleNexus, LLC Insight Venture Partners LLC 20.00 - - - 8Jun18 NestReady Inc. National Bank of Canada, Investment Arm - - - - 6Jun18 MoloFinance Ubon Partners AS 4.96 - - - 9May18 Trussle Lab Ltd Goldman Sachs Group, Merchant Banking Division; Seedcamp; Propel 18.46 - - - Venture Partners LLC; Finch Capital 7May18 cloudvirga, Inc. Upfront Ventures; Riverwood Capital LLC 50.01 - - - 26Apr18 Ranieri Solutions LLC - - - - - 11Apr18 reQuire, LLC LenderLive Services, LLC - - - - 12Apr18 a la mode technologies, llc CoreLogic, Inc. - - - - 12Apr18 Cre8tech Labs Inc. Regions Financial Corporation - - - - 10Apr18 Top of Mind Networks, LLC. Primus Capital - - - - 6Apr18 Notarize, Inc. Polaris Partners; Lennar Corporation; Founders Fund; Second Century 20.00 - - - Ventures, LLC; Fifth Wall Ventures Management, LLC 21Mar18 LenderClose, LLC - 1.32 - - - 15Mar18 NexSpring Financial, LLC - - - - - 14Feb18 SafeChain, Inc. NCT Ventures, LLC; Rev1 Ventures, Investment Arm; Social Capital; 3.00 - - - Aspect Ventures; Rise of the Rest; Precursor Ventures; LOUD Capital; Fintech 71; Rise Of The Rest Seed Fund, LP 12Feb18 eTech Solutions Limited CoreLogic, Inc. - - - - 7Feb18 Fiserv Solutions, LLC Warburg Pincus LLC 419.00 - - - 8Jan18 Lending Manager LLC LoyaltyExpress, Inc. - - - - 6Dec17 Finzat LLC Block One Capital Inc. 0.68 - - - 31Aug17 Velocify, Inc. Ellie Mae, Inc. 128.00 - - - 8Aug17 CVISION Technologies, Inc. Foxit Software Incorporated - - - - 1Aug17 PCLender LLC Fiserv, Inc. - - - - 11Jul17 Mortgage Gym Limited GoCompare.com Group plc - - - - 6Jun17 Mercury Network, LLC CoreLogic, Inc. 153.00 - - - 30May17 Comergence Compliance Monitoring, LLC Optimal Blue LLC - - - - 24Apr17 Urban Fulfillment Services, LLC HCL Technologies Limited 30.00 48.00 0.6x - 5Apr17 LendingTools.com, Inc. Juniper Payments, LLC 13.00 - - - 13Mar17 DH Corporation Misys Limited (nka:Finastra Group Holdings Limited) 3,502.03 1,249.98 2.8x 14.8x 27Jan17 Cassiopae SAS Sopra Banking Software SA - - - - 19Dec16 Conveyancing Alliance Limited ULS Technology plc 16.55 5.46 3.0x - 14Dec16 Marlborough Stirling Canada Limited Dominion Lending Centres Inc. 4.20 - - - 13Dec16 Indra Sistemas, S.A. T. Rowe Price Associates, Inc. - 2,945.78 - - 1Nov16 Real Matters Inc. Urbana Corporation; Caldwell Investment Management Ltd. 1.60 248.55 - - 6Sep16 Encomia, LLC International Document Services, Inc. - - - - 24Aug16 Platinum Data Solutions, Inc. Mercury Network, LLC - - - - 13Aug16 BeyondCore, Inc. salesforce.com, inc. - - - - 11Aug16 Delta 360, Inc. CMLS Financial Ltd. - - - -

13 Mortgage Technology July 2018 APPENDIX:

Public Basket

Constituents

7 Mile Advisors appreciates the opportunity to present this confidential information to the Company. This document is meant to be delivered only in conjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. All data cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated as confidential and for the use of the intended recipient only. Please notify 7 Mile Advisors if it was distributed in error. 14 Revenue Multiples - LendingTree, Inc. 10x Public Basket 8x 6x 4x 2x LendingTree, Inc. 0x LendingTree, Inc., through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings in the United States. Its TEV/Revenue Average mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to EBITDA Multiples - LendingTree, Inc. various conditional loan offers for non-mortgage products, 80x including auto loans, credit cards, home equity loans, personal 60x loans, reverse mortgages, small business loans, and student 40x loans. In addition, it offers information, tools, and access to other products, including deposit accounts; credit repair, through which 20x consumers obtain assistance improving their credit profiles; debt 0x relief services, through which consumers obtain assistance negotiating existing loans; and home improvement services, through which consumers have the opportunity to research and TEV/EBITDA Average find home improvement professional services. Further, the company provides personal credit data, through which P/E Multiples - LendingTree, Inc. consumers gain insights into how prospective lenders and other 300x third parties view their credit profiles. LendingTree, Inc. was 240x founded in 1996 and is headquartered in Charlotte, North 180x Carolina. 120x 60x 0x Date Key Development Headline 11/28/17 LendingTree Seeks Acquisitions P/E Average

15 Revenue Multiples - Ellie Mae, Inc. 15x Public Basket 12x 9x 6x 3x Ellie Mae, Inc. 0x Ellie Mae, Inc. provides cloud-based platform for the mortgage finance industry in the United States. The company provides TEV/Revenue Average Encompass, a proprietary software solution that combines lead management; loan origination and processing; underwriting; preparation of mortgage applications, disclosure agreements, EBITDA Multiples - Ellie Mae, Inc. 100x and closing documents; loan funding and closing; compliance 80x with regulatory and investor requirements; and enterprise management. Its platform also offers Encompass Lending 60x Platform and Encompass Developer Connect Solution, and 40x Encompass Data Connect; and sales and marketing solutions, 20x such as Encompass CRM, Velocify, Encompass WebCenter, 0x Encompass Consumer Connect, Encompass TPO WebCenter, Encompass TPO Connect, and Encompass Loan Officer Connect. In addition, the company provides loan quality and TEV/EBITDA Average compliance solutions, including Ellie Mae Total Quality Loan Program, Encompass Compliance Service, Encompass 4506-T P/E Multiples - Ellie Mae, Inc. Service, Encompass Flood Service, and Encompass Fraud 200x Service. Ellie Mae, Inc. was founded in 1997 and is 150x headquartered in Pleasanton, California. 100x 50x Date Key Development Headline 0x 11/9/17 Ellie Mae Mulls Acquisitions 10/1/17 Ellie Mae, Inc. (NYSE:ELLI) completed the acquisition of Velocify, Inc. 8/31/17 Ellie Mae, Inc., Velocify, Inc. - M&A Call P/E Average

16 Revenue Multiples - Realogy Holdings 4x Corp. Public Basket 3x 2x 1x Realogy Holdings Corp. 0x Realogy Holdings Corp. provides real estate services. It operates through four segments: Real Estate Franchise Services (RFG), TEV/Revenue Average Company Owned Real Estate Brokerage Services (NRT), Relocation Services (Cartus), and Title and Settlement Services (TRG). The RFG segment franchises its real estate brokerage EBITDA Multiples - Realogy Holdings Corp. 20x franchise systems under the Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sotheby’s International 15x Realty, and Better Homes and Gardens Real Estate brand 10x names to real estate brokerage businesses. As of December 31, 5x 2017, this segment’s real estate franchise systems had approximately 14,800 offices; and approximately 289,000 0x independent sales agents worldwide. The NRT segment owns and operates a full-service residential real estate brokerage business primarily under the Coldwell Banker, Corcoran, TEV/EBITDA Average Sotheby’s International Realty, ZipRealty, and Citi Habitats brand names to assist home buyers and sellers in listing, marketing, P/E Multiples - Realogy Holdings Corp. selling, and finding homes. Realogy Holdings Corp. was 60x incorporated in 2006 and is headquartered in Madison, New 45x Jersey. 30x 15x Date Key Development Headline 0x 12/17/17 Guaranteed Rate, Inc. and Realogy Holdings Corp. (NYSE:RLGY) completed the acquisition of certain assets of mortgage operations of PHH Home Loans, L.L.C. P/E Average 11/3/17 Realogy Holdings Mulls Acquisitions

17 Revenue Multiples - Zillow Group, Inc. 30x Public Basket 24x 18x 12x 6x Zillow Group, Inc. 0x Zillow Group, Inc. operates real estate and home-related information marketplaces on mobile and the Web in the United TEV/Revenue Average States. The company offers a portfolio of brands and products to enable consumers find information about homes and connect with local professionals. Its brands focus on various stages of the EBITDA Multiples - Zillow Group, Inc. 300x home lifecycle, including renting, buying, selling, and financing. 240x The company’s portfolio of consumer brands comprise real estate and rental marketplaces, such as Zillow, Trulia, 180x StreetEasy, HotPads, Naked Apartments, RealEstate.com, and 120x OutEast.com. It also provides a suite of marketing software and 60x technology solutions; and owns and operates various business 0x brands for real estate, rental, and mortgage professionals comprising Mortech, dotloop, Bridge Interactive, and New Home Feed. In addition, the company offers advertising services. Zillow TEV/EBITDA Average Group, Inc. was incorporated in 2004 and is headquartered in Seattle, Washington.

Date Key Development Headline 6/27/18 Zillow Seeks Acquisitions 9/7/17 Zillow Group, Inc. (NasdaqGS:ZG) acquired New Home Feed.

18 Revenue Multiples - Wolters Kluwer N.V. 5x Public Basket 4x 3x 2x 1x Wolters Kluwer N.V. 0x Wolters Kluwer N.V., together with its subsidiaries, provides information, software, and services in Europe, North America, TEV/Revenue Average the Asia Pacific, and internationally. The company operates through four divisions: Health; Tax & Accounting; Governance, Risk & Compliance; and Legal & Regulatory. The Health division EBITDA Multiples - Wolters Kluwer N.V. 20x offers solutions in the areas of clinical decision support, clinical drug information, patient engagement, clinical terminologies, 15x clinical surveillance, nursing education and practice, medical 10x research, and continuing education services; and medical, 5x nursing, and allied health journal and book publishing solutions to healthcare professionals, medical librarians, and corporate 0x researchers. The Tax & Accounting division provides solutions in the areas of compliance, collaboration, internal and external audit management, and firm management to accounting firms; TEV/EBITDA Average corporate finance, tax, and auditing departments; government agencies; corporations; libraries; and universities. Wolters P/E Multiples - Wolters Kluwer N.V. Kluwer N.V. was founded in 1836 and is headquartered in 40x Alphen aan den Rijn, the Netherlands. 30x 20x Date Key Development Headline 10x 2/21/18 Wolters Kluwer Seeks Acquisitions 0x 1/4/18 Audax Group, Inc. completed the acquisition of Corsearch, Inc. from Wolters Kluwer N.V. (ENXTAM:WKL). 10/22/17 Audax Group, Inc. agreed to acquire Corsearch, Inc. from Wolters Kluwer N.V. (ENXTAM:WKL) for $140 million. P/E Average

19 Revenue Multiples - Fiserv, Inc. 10x Public Basket 8x 6x 4x 2x Fiserv, Inc. 0x Fiserv, Inc., together with its subsidiaries, provides financial services technology worldwide. The company’s Payments and TEV/Revenue Average Industry Products segment provides electronic bill payment and presentment services; mobile banking software and services; EBITDA Multiples - Fiserv, Inc. account-to-account transfers; person-to-person payment 30x services; debit and credit card processing and services; 25x payments infrastructure services; and other electronic payments 20x software and services. This segment also offers card and print 15x personalization services; investment account processing 10x services for separately managed accounts; and fraud and risk 5x management products and services. The company was founded 0x in 1984 and is headquartered in Brookfield, Wisconsin.

TEV/EBITDA Average

Date Key Development Headline P/E Multiples - Fiserv, Inc. 6/5/18 Fiserv Seeks Acquisitions 60x 3/30/18 Warburg Pincus LLC completed the acquisition of 55% stake in 45x Fiserv Solutions, LLC from Fiserv, Inc. (NasdaqGS:FISV) for approximately $420 million. 30x 2/6/18 Warburg Pincus LLC entered into a definitive agreement to acquire 55% stake in Fiserv Solutions, LLC from Fiserv, Inc. 15x (NasdaqGS:FISV) for approximately $400 million. 0x 10/31/17 Fiserv Seeks Acquisitions 8/20/17 Fiserv, Inc. (NasdaqGS:FISV) acquired Dovetail Group Limited.

P/E Average

20 Revenue Multiples - Fidelity National 10x Information Services, Inc. Public Basket 8x 6x 4x 2x Fidelity National Information Services, Inc. 0x Fidelity National Information Services, Inc. operates as a financial services technology company in the United States and TEV/Revenue Average internationally. It operates through Integrated Financial Solutions and Global Financial Solutions segments. The Integrated EBITDA Multiples - Fidelity National Financial Solutions segment offers core processing and ancillary 30x applications; digital solutions, including Internet, mobile, and e- Information Services, Inc. 24x banking; fraud, risk management, and compliance solutions; 18x electronic funds transfer and network services; card and retail solutions; corporate liquidity and wealth management services; 12x item processing and output services; government payments 6x solutions; and e-payment solutions. The Global Financial 0x Solutions segment provides capital markets, asset management, and insurance solutions, as well as banking and payments solutions to financial institutions, such as securities processing TEV/EBITDA Average and finance, global trading, asset management and insurance, and retail banking and payment services. The company was P/E Multiples - Fidelity National founded in 1968 and is headquartered in Jacksonville, Florida. 100x Information Services, Inc. 80x 60x Date Key Development Headline 5/1/18 Fidelity National Seeks Acquisitions 40x 11/15/17 Shanghai Zhongping Capital Co., Ltd. signed an agreement to 20x acquire SunGard Kingstar Data System (China) Co., Ltd. from 0x Fidelity National Information Services, Inc. (NYSE:FIS). 7/30/17 Clayton, Dubilier & Rice, Inc. completed the acquisition of 60% stake in The Capital Markets Company N.V. from Fidelity National Information Services, Inc. (NYSE:FIS). P/E Average

21 Revenue Multiples - Intuit Inc. 15x Public Basket 12x 9x 6x 3x Intuit Inc. 0x Intuit Inc. provides financial management and compliance products and services for small businesses, consumers, self- employed, and accounting professionals in the United States and TEV/Revenue Average internationally. The company’s Small Business segment provides small business payroll products and services, including EBITDA Multiples - Intuit Inc. QuickBooks Desktop software products, such as Desktop Pro, 30x Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks 24x Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks 18x Point of Sale solutions; ProAdvisor Program memberships for 12x accounting professionals; and financial supplies. This segment 6x also offers QuickBooks Online, and QuickBooks Self-Employed 0x financial and business management offerings. Intuit Inc. was founded in 1983 and is headquartered in Mountain View, California. TEV/EBITDA Average

P/E Multiples - Intuit Inc. 100x Date Key Development Headline 80x 1/30/18 Intuit Inc. (Nasdaq:INTU) completed the acquisition of Exactor, Inc. 60x 1/28/18 Intuit Inc. (NasdaqGS:INTU) acquired Applatix, Inc. 40x 1/9/18 Intuit Inc. (Nasdaq:INTU) completed the acquisition of 20x TSheets.com, LLC. 0x 12/4/17 Intuit Inc. (Nasdaq:INTU) signed a definitive agreement to acquire TSheets.com, LLC for approximately $340 million. 10/25/17 Intuit Inc. (NasdaqGS:INTU) signed an agreement to acquire Exactor, Inc. P/E Average

22 Revenue Multiples - Accenture plc 4x Public Basket 3x 2x 1x Accenture plc 0x Accenture plc provides consulting, technology, and outsourcing services worldwide. Its Communications, Media & Technology segment provides professional services that help clients TEV/Revenue Average accelerate and deliver digital transformation, and enhance business results through industry-specific solutions for EBITDA Multiples - Accenture plc communications, media, and high tech industries, as well as for 20x software platforms. The company’s Financial Services segment 15x offers services that address profitability pressures, industry 10x consolidation, regulatory changes, and the need to continually adapt to new digital technologies. This segment serves clients in 5x banking, capital markets, and insurance industries. Accenture plc 0x was founded in 1989 and is based in Dublin, Ireland.

TEV/EBITDA Average

Date Key Development Headline P/E Multiples - Accenture plc 6/7/18 Accenture plc (NYSE:ACN) entered into an agreement to acquire 40x designaffairs GmbH. 30x 6/4/18 SAP SE to Team with Accenture, Capgemini and Deloitte to Accelerate Customer Adoption of SAP S/4Hana(R) Cloud in 20x Target Industries 10x 5/22/18 Accenture plc (NYSE:ACN) agreed to acquire HO Communication. 0x 5/8/18 Accenture plc Teams with SAP SE to Help High-Tech Companies Create Digital As-A-Service Business Models Quickly and Easily 5/7/18 Accenture plc (NYSE:ACN) completed the acquisition of Certus Solutions. P/E Average

23 Contact Information 7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close- knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. Securities offered through 7M Securities LLC. Leroy Davis, Partner 704.899.5962 [email protected] Tripp Davis, Partner 704.899.5762 [email protected] Andy Johnston, Partner 704.899.5961 [email protected] Tom Dinnegan, Managing Director 310. 426.2410 [email protected] Ben Lunka, Managing Director 704.496.2995 [email protected] Jeff Stoecklein, Managing Director 312.373.3737 [email protected]

Kristina Sergueeva, Director 704.899.5149 [email protected] Neil Churman, Director 704.899.5960 x 121 [email protected] John Cooper, Director 704.973.3996 [email protected] Tim Frye, Director 704.973.3994 [email protected] Casey Augustine, Business Development - Manager 704.973.3999 [email protected] Nicholas Prendergast, Financial Analyst 704.899.5960 [email protected] Ariail Siggins, Marketing Director 704.899.5960 x 123 [email protected]

Sydney Larese, Associate 704.899.5960 [email protected]

Marty Johnson, Associate 704.899.5960 [email protected]

Rory Julyan, Associate 704.899.5960 [email protected] Garth Martin, Associate 704.899.5960 x 109 [email protected] Chevonese Dacres, Analyst 360.499.1502 [email protected]