®

OVERVIEWCONNECTING LEADERS TO EMPOWER THE EUROPEAN DIGITAL ECOSYSTEM

2019

LONDON 30-31 OCT

BERLIN13-14 JUN

TEL AVIV10-11 APR

20102009 2011 20142012 2015 20172013 2016 2018

The Beginning! First NOAH Conference Takes Place in LondonNovember 2009

NOAH London Moves to Old BillingsgateNovember 2011

Startups Welcomed on Stage (SevenVentures Pitch Day)Workshop Stage Featuring Best-In-Class Service ProvidersNOAH Books Initiative: Industry Directories for the EcosystemNovember 2013

NOAH Bible (Newsletter): A Valuation / KPI Snapshot for European InternetMay 2015

NOAH Conference Expands to BerlinJune 2015

NOAH Connect App v1: Bringing the NOAH Famous Networking OnlineMay 2016

Dedicated Start-up Stage for the Unicorns of the FutureNOAH Conference is Streamed Live for the First TimeJune 2016

Our Special 10th Anniversary of NOAH LondonOctober 2018

YEARS

ANNIVERSARY

Pre-Event Matchmaking: Making NOAH the Most Productive Conference EverSeptember 2017

NOAH Conference Expands to Tel AvivMarch 2018

NOAH Public Companies: Europe’s First Free Internet Trading CompsMay 2018

It’s Been A Remarkable 10 Years!®

YEARS

ANNIVERSARY

2

Venture Capital

Growth

Buyout

The Conference for the Industry®

YEARS

ANNIVERSARY

A SAttendees at NOAH # of times speaking at NOAH

A AA AS SS S105 7785 6711 47 6

AA A A SS S S 453 33 22 17 2 6eventures

A A A AS S S S55 42 29 281 1 4 1

A A A AS S S11 9 8 21 1 1

AA A ASS S6975 41 3933 1

3

Three Conferences, One Mission: Empower the European Digital Ecosystem

1,500+ attendees – the “who is who” of European Internet 100+ of Europe’s leading digital businesses and 80+ handpicked top start-ups on stageNew program focus: Investors and entrepreneurs tell their common success storiesPre-event matchmaking – tell us who you want to meetTotally revamped conference app and networking / matchmaking technologyTopical meeting areas to make new relevant contacts

Mission To provide a physical marketplace that facilitates funding of digital European companies at all stages

Mission Mission

~5,000 attendees – executives, investors, digital service providersUnique mix of CEOs from European traditional large caps and top-funded startups on stageFocus on emerging start-ups - 80+ handpicked young companies on the Startup StagePartner dinners and satellite events throughout the cityWorkshops and exhibitions by leading digital service providersTotally revamped conference app and networking / matchmaking technologyPre-event matchmaking – tell us who you want to meet

~1,200 selected attendees – 300 European corporates and 900 Israeli start-ups and leading executivesPresentations by 60+ selected Israeli investors and top start-upsCompany visits and events hosted by start-ups on day 2Casual networking eventsConference app with top search and meeting functionalitiesInvitation onlyPre-event matchmaking – tell us who you want to meet

Connecting Capital and Entrepreneurs

Connecting Israel’s Startups with Large Corporates and Investors

30-31 October 2019Old Billingsgate, London

10-11 April 2019Hangar 11, Tel Aviv

To promote Israel - European relationships and enable funding

To bring together future-shaping executives and investors active across segments driven by digital revolution

Connecting European Champions and Challengers

13-14 June 2019STATION Berlin

6

HIGH PROFILE SPEAKERS

Corporate

Service Provider

Internet

Investor

Oliver SamwerFounder & CEO

Rolf SchrömgensCo-Founder & CEO

Hakan KoçCEO

Jose NevesCEO

Robert GentzCEO

Dara KhosrowshahiCEO

Henry BlodgetCEO, Editor-In-Chief

Niklas ÖstbergCo-Founder & CEO

Riccardo ZacconiFounder & CEO

Pieter van der Does CEO

Julie Linn TeiglandMP EY Germany, Switzerland, Austria

Dr. Klaus HommelsFounder & CEO

Philipp FreisePartner

Sonali De RyckerPartner

Mike LynchFounder & CEO

Al GoreChairman

Niklas ZennströmCEO

Rainer MaerkleGeneral Partner

Dr. Mathias DöpfnerCEO

Glenn FogelCEO

Arianna HuffingtonCo-Founder and Editor-in-Chief

Thomas EbelingCEO

Sir Martin SorrellCEO

Dr. Richard LutzCEO

John CollisonPresident

Karel DörnerSenior Partner

Dr. Bernd MontagCEO

Herbert HainerCEO

Karim JalboutHead of the European Digital Practice

Alex KayyalHead of Salesforce Ventures Europe

Mikkel SvaneCEO

Ralph HamersCEO

Eric Schmidt Executive Chairman

Dr. Dieter ZetscheChairman of the Board of Management

Speakers

Partners

International Guests

70+

17

200+

Tel Aviv 2018 KPIs

Speakers

Partners

Workshops

120+

62

12

Berlin 2018 KPIs

Speakers

Partners

Workshops

120+

34

5

London 2018 KPIs

®

7

®

NOAH Conference Trailer

8

10-11 April 2019

HANGAR 119

Company Size (# employees)

Senior Decision Makers

721 Attendees 70+ Speakers

76% senior decision makers

Over 10,000

1001-10,000

501-1,000

251-500

101-250

51-100

11-50

1-10

C-Level

Senior Executive

Investment Partner

Owner, Founder

Board Member

Other

11%

11%

3%

7%

11%

6%

29%

21%

36%

20%

15%

4%

2%

24%

Israel

Germany

UK

USA

Switzerland

Other

68%

10%

5%

5%

2%

9%

10

VENUE & NETWORKING

11

13 - 14 June 2019

STATION BERLIN12

Company Size (# employees)

Senior Decision Makers

7,840 Unique Attendees to Date200+ Unique Speakers

~75% senior decision makers

Over 10,000

1001-10,000

501-1,000

251-500

101-250

51-100

11-50

1-10

C-Level

Owner, Founder

Investment Partner

Other

13%

15%

5%

7%

11%

7%

27%

16%

47%

18%

10%

24%

Internet Entrepreneurs and Executives

Investors

Service Providers

Corporate Executives

Press

Other

42%

21%

17%

16%

4%

1%

Germany

UK

Switzerland

US

Other

67%

9%

5%

2%

18%

13

Marketing Tech

Payments

Restaurants & Food Delivery

Lending Platforms

B2B & SoftwareConsumer

Goods, Retail & Ecommerce

Digital & TMT

Fintech

Healthcare, Science & Education

Industrials & IoT

Transportation & Mobility

Travel & Tourism

Online Fashion

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

Over 100 CEOs to tell the story of their Company!

14

VENTURE CAPITAL

GROWTH CAPITAL

550 ATTENDING INVESTORSVENTURE CAPITAL 74% GROWTH CAPITAL 12% BUYOUT 9% DEBT 4%

BUYOUT DEBT

eventures

15

VENUE & NETWORKING

16

30 - 31 October 2019

OLD BILLINGSGATE17

Launched in 2009, the NOAH Conference has grown into the preeminent European event where over 4,000 senior executives and investors meet to

• Gain insights into the latest proven concepts

• Network and establish new business relationships

• Find customers and top B2B service providers

• Enjoy other events organized around the main conference (Speaker Dinner, NOAH Party, satellite events)

7,200+ Unique Attendees to Date

350+500+

Unique SpeakersCompany Financings and M&ATransactions Originated @NOAH

Senior Decision Makers

~75% senior decision makers

Company Size (# employees)

C-Level

Owner, Founder

Investment Partner

Other

46%

20%

9%

25%

Over 10,000

1001-10,000

501-1,000

251-500

101-250

51-100

11-50

1-10

6%

9%

7%

9%

15%

5%

35%

14%

UK

Germany

US

Spain

Switzerland

Poland

Other

25%

24%

12%

5%

4%

3%

27%

Internet Entrepreneurs and Executives

Investors

Service Providers

Corporate Executives

Press

Other

38%

25%

14%

13%

4%

7%

18

VENTURE CAPITAL

GROWTH CAPITAL

BUYOUT DEBT

~400 ATTENDING INVESTORSVENTURE CAPITAL 54% GROWTH CAPITAL 26% BUYOUT 20%

19

VENUE & NETWORKING

20

THE NOAH STARTUP STAGE

MEET OUR WINNERS

APPLY FOR NOAH 2019STARTUP STAGE

Want to meet relevant angels and VCs looking for early-stage opportunities and increase public awareness? Apply for the NOAH Startup Stage now!

We’re thrilled to have collected the most votes for our startup stage ever - and following some incredibly close competition, here are the winners from NOAH London 2018!

Congratulations to the voted winner NOS Stablecoin as well as runners-up CarPlanner and Learn 2 Play, which will present their ventures on the main stage of our upcoming NOAH Berlin on 13-14 June 2019.

The NOAH18 London Startup Competition

The NOAH19 Startup Stage

21

Oliver Samwer CEO, Rocket Internet

100 Firms on NOAH17 London Main Stage

[ ] Companies presented on Main Stage

Of which [ ] Unicorns

Of the top 100 Internet Exits in last 5 years in Eu-rope by size, [%] passed through our stage

100 Firms on NOAH17 London Main Stage

[ ] Companies presented on Main Stage

Of which [ ] Unicorns

Of the top 100 Internet Exits in last 5 years in Eu-rope by size, [%] passed through our stage

120+ speakers at NOAH18 London main stage640 companies presented since 2009 (37 digital unicorns)Speakers are CEOs and foundersIncluding: Adyen, BlaBlaCar, Check24, Criteo, Deliveroo, Delivey Hero, Farfetch, Gett, HelloFresh,King.com, MoneySuperMarket, Scout24, Spotify, Stripe, TransferWise, Trivago, UBER, WeWork, Wix, Yandex, etc.

STARTUP STAGENOAH18 Berlin: #1 KIDSORTED, #2 Zana Technologies #1 Fintech Competition - FinCompareNOAH17 London: #1 The Work Crowd, #2 Misterporter, #3 EverdineNOAH17 Berlin: #1 Lalafo, #2 Bitbond, #3 TravelPerkNOAH16 London: #1 Beezer, #2 CodeMonkey, #3 EyefitUNOAH16 Berlin: #1 Fraugster, #2 123Sonography, #3 adMingle, #4 Scalable Capital, #5 Webdata Solutions

SEVENVENTURES PITCH DAYN15LON SnapCamN14LON Cashboard

THIS IS NOAH CONFERENCENOAH CONNECTS LEADERS AT ONE PLACE USING BEST-IN-CLASS CONFERENCES AND TECHNOLOGY TO EMPOWER THE EUROPEAN DIGITAL ECOSYSTEM

SPEAKERS AT NOAH HEARING THE STORY OF EUROPEAN DIGITAL LEADERS TO LEARN

90 x 6-min pitches at NOAH BerlinCEOs and founders from emerging companies less than 4 years oldLive audience of 100 (Berlin) to 200 (London), video live stream and inclusion in NOAH media library3 winners (online voting) present on main stage at next NOAHUnique track record of funding origination

By invitation only12,000+ unique attendees to date at NOAH Conferences23,000 viewers watch the recordings or live streamsVideos and presentations of all past conferencesCorporate champions attending regularly NOAH: Credit Suisse, Daimler, Deutsche Bank, Digital McKinsey, eBay, Facebook, Google, ING, Naspers, Porsche, Priceline, ProSiebenSat.1, TUI, etc.

OUR AUDIENCE IS OUR STAGE

NOAH18 LONDON

UKGermanyUSSpainSwitzerlandPolandOther

25%24%12%5%4%3%27%

C-LevelOwner, FounderInvestment PartnerOther

~75% senior decision makers

46%20%9%25%

VALUATION OF $100M+VALUATION OF $100M+MAIN STAGE: $100M MINIMUM VALUATION STARTUP STAGE FOR YOUNG EUROPEAN COMPANIES

WNNERS TO DATENOAH18 LONDON SPEAKER BOOK

ATTENDEES BY COUNTRY

ATTENDEES BY SENIORITY

It́ s a very good conference,one can do business!“ “

CLICK TO VIEW

N15BER WithingsN13LON GetYourGuide

22

NOAH CONNECTS CAPITAL AND ENTREPRENEURS TO INVEST, RAISE MONEY AND BUILD LONG TERM INVESTOR RELATIOSHIPS

NOAH hosts the top VC, Growth Capital and Buyout investors interested in Internet

We hosted on main stage 52% of the top 100 digital M&A Exits in Europe since the launch of NOAH Conference in Nov 2009

25+ Investors present their portfolio Stars on NOAH18 London Main Stage

500 unique investor funds attended NOAH to date

A classic session at NOAH since 2009

London 2018: Lakestar, Accel, TPG, DST Global, Permira and Holtzbrinck Ventures

100 - 150 detailled investor profiles with contact details and the NOAH Investor Book

We do the NOAH Investor Book since 2013

INVESTORS AT NOAH VC PANEL INVESTOR BOOK

NOAH18 LONDON INVESTOR BOOK

TOP INVESTORS COME TO NOAH REGULARLY! - Total Attendees over the Last 8 Years

CLICK TO VIEW

1.2.3.4.5.6.7.8.9.10.11.12.13.

14.15.16.17.18.19.20.21.22.23.24.25.26.

27.28.29.30.31.32.33.34.35.36.37.38.39.

40.41.42.

43.44.45.46.47.48.49.50.

LakestarHoltzbrinck VenturesIndex VenturesHellman & FriedmanKKRSevenVenturesTarget GlobalVitruvian PartnersGeneral AtlanticAccel PartnersBCG Digital VenturesTA AssociatesEQT Partners

Eight RoadsPermiraActon CapitalSummit PartnersPartech VenturesRocket Internete.venturesMCI CapitalAtlantic Labsbtov PartnersMacquarie CapitalInsight Venture PartnersTechnology Crossover Ventures

MarylandOakley CapitalEarlybird Venture CapitalProject A VenturesNGP CapitalPiton CapitalSpectrum Equity Investors10x.GroupFinLeapHPE Growth CapitaliLab VenturesHgCapitalAtomico

CoparionSpeedInvestCatalonia Trade & InvestmentFrog CapitalNorthzoneRheingau FoundersDN CapitalScottish Equity PartnersTPG CapitalLetterOne TechnologyRTP Global

105857775696967585553444241

40393836353533333130302929

28282727262625242424242322

222221

2121212020201919

23

PARTNERS

135 partners in 2017/2018 75 exhibition stands38 workshops

40 satellite events in 2017/2018 Speakers Dinner

450 trading comparables across 40 sectors 300+ most significant transactionsTraffic analysis of key B2C sectorsNOAH Disruptor List: hottest companies by funds raisedPublished since May 2015Click here to sign up

SATELLITE EVENTS NOAH BIBLE

CLICK TO VIEW

SERVICE PROVIDERS AT NOAH TO FIND NEW CUSTOMERS OR THE MOST PROVEN SOLUTIONS AND TOOLS

NETWORKING AT NOAH DO BUSINESS AND DON’T WASTE TIME AT CONFERENCES (WE ARE CURATING YOUR CONFERENCE VISIT)

MATCHMAKING

630+ INVESTMENT FUNDS

1,000+ INTERNET COMPANIES

An introduction platform for the most relevant inves-tors and companies ahead of NOAH London and Berlin:

Over 1,200 investor meetings requests about to get sent to 630 investors2,300 company meetings requests about to get sent to 1,000 leading digital companies at all stages

Meeting spaces on site 12 meeting locations – easy to find, live and on the floorplanMeeting rooms bookable on demand

MEETING ROOMS AT NOAH BERLIN

24

Over 9,000 messages and 7,000 meetings set up at NOAH BerlinThe app used by 75% of the conference attendeesNOAH Connect App Guide

NOAH CONFERENCE 2016-2018 HIGHLIGHTS TO WATCH

DARA KHOSROWSHAHICEO

AL GOREChairman

CHRISTOPH KEESECEO

Whitney Wolfe, Bumble Andrey Andreev, Badoo

Travis Kalanick, UberDr. Dieter Zetsche, Daimler

Investor PanelEMK Capital, Insight Venture

Partners, Target Global, iAngels

AUTO1 Group, Target Global, Allianz X, Deutsche Bank

Are you Ready for Take Off? Remo Gerber, Lilium

Florian Reuter, Volocopter

Dharmash Mistry, LakestarPeter Smith, Blockchain

Peter Altmaier, Federal Minister for Economic Affairs and Energy

Klaus Hommels, LakestarMarco Rodzynek, NOAH Advisors

Sebastiaan VaessenNaspers

Payal Kadakia, ClassPassAdam Valkin, General Catalyst

Niklas Östberg, Delivery HeroStefan Nicola, Bloomberg

25

Challengers Challengers

Champions

Source: Unicorn definition actual reported data where available and NOAH estimates.

Total Market Cap: $3tn

Unicorns

NOAH IS A UNICORN BREEDING GROUNDChallengers with a combined valuation of > $150bn and Champions with a combined

market cap of > $3tn presented at NOAH since 2009Speaking Company

Speaking Company

# of Times at NOAH

# of Times at NOAH

First Time

First Time Segment SegmentFounded FoundedRaised

($m)Raised ($m)Current Status Current Status

AdyenAUTO1 GroupAutoTraderAvastAVGBabylon HealthBlaBlaCar CareemCHECK24CloudflareCTS EventimCriteoDeliverooDelivery HeroFarfetchFotoliaGettGetYourGuide HelloFreshImmobiliareIronsourceiZettleJust EatKlarnaKing.comKreditechMarkafoniMomondo GroupMoneySuperMarketPhotobox

PrivaliaRevolution PrecraftedScout24SeLogerShowroomprive SigfoxSimilarWebSkrill

SkyscannerSpotifyStripeTaboolatado°TeamViewerTomTomTrainlineTransferwisetrivago

UberWazeWeWorkWix.comWooga XINGYad2YandexZooplusZalandoZendesk

AdidasAXAAxel SpringerBayerBertelsmannBMWDaimlerDeutsche BahnDeutsche BörseeBayFacebookGoogleHuffington PostHypoportIACinnogyKlöckner & CoLufthansaMETRO GroupNaspersPorschePriceline GroupProSiebenSat.1 MediaRTLSchibstedSiemensTencentThyssenKruppTUIVivendiVISAWPP

11641228122781

102

1088432224782533

51978266

3532752345

23458967174

13

11493327

1113114416356

1068

101077111325

201020152010201220092013201320172015201620122009201520102011200920122013201320142012201320142012201020102012201120112013

20112018201120102010201620142009

2012200920152014201320152015201120112011

20162011201520122011200920122012201120112012

20162015201020152010201520152015201220102009201020122014201520142016201520112010201520112010200920112013201420172017201220172012

PaymentsClassifieds - CarsClassifieds - CarsCybersecurity & Anti-VirusCybersecurity & Anti-VirusHealth & MedTechRider Sharing & Car PoolingRider Sharing & Car PoolingLead Generation ServicesCybersecurity & Anti-VirusMarketplacesDisplay  & RetargetingMeal DeliveryMeal DeliveryFashion E-CommerceMarketplacesTaxi AppsTravelMeal delivery TravelDeveloper ToolsPaymentsMeal DeliveryPaymentsGamingPersonal LoansFashion E-CommerceTravelLead Generation ServicesMarketplaces

Fashion E-CommercePropTechMarketplacesClassifieds - Real EstateFashion E-CommerceInternet of ThingsAnalytics & IntelligencePayments

TravelMusicPaymentsContent AdvertisingInternet of ThingsCommunication & CollaborationNavigation & ParkingTravelBanking FintechTravel

Taxi AppsNavigation & ParkingWorkspaces Horizontal SaaSGamingContent & MediaClassifieds - HorizontalContent & MediaVertical E-CommerceFashion E-CommerceHorizontal SaaS

Consumer GoodsInsurance & FinanceDigital & MediaHealthcareDigital & MediaAutomotiveAutomotiveTravel & TransportationFinance & BankingDigital & MediaDigital & MediaDigital & MediaDigital & MediaFinancial ServicesDigital & MediaIndustrialsIndustrialsTravel & TransportationConsumer GoodsDigital & MediaAutomotiveTravel & TransportationDigital & MediaDigital & MediaDigital & MediaIndustrialsDigital & MediaIndustrialsTravel & TransportationDigital & MediaInsurance & FinanceAdvertising

200620121977198819912013200620121999200919992005201320112007200520102008201220052009201020012005200320122008199619932000

20062015199819922006201020072001

2003200620102007201120051991199720102005

20092007201020062009 200320052000199920082007

19491982194618631835191619981994199219952004199820052001199520151906195319961915193119972000193118391847189819991923185319581971

266880

-10025285

335571

-182

-63

8602,58170222561396

365-

10526972

63784

4978

152-

305

219---

44327112800

1972,56344016056---

11654

11,56267

9,85459327---

46886

----------

2.336---------------------

$18.83bn market capReached unicorn status$4.74bn market cap Reached unicorn statusSold to Avast for $1.3bn after IPOSuccessful private companyReached unicorn statusValued at $1.2bnReached unicorn statusValued at $3.2bn$4.53bn market cap$2.13bn market capReached unicorn status$10.34bn market capReached unicorn statusSold to Adobe for $800mReached unicorn statusSuccessful private company$2.73bn market capSuccessful private companyReached unicorn statusSuccessful private company$7.04bn market capValued at $2.5bnSold to EA for $5.9bn after IPOSuccessful private companySold to Naspers for $200mSold to Priceline Group for $550m$2.21bn market capSold to Exponent & Electra for $615mSold to Vente-Privee for $560Reached unicorn status$5.67bn market capSold to Axel Springer for $847Sold to SRP Groupe after IPOValued at $708mSuccessful private companySold to Optimal Payments for $1.98bnSold to Ctrip for $1.7bn$32.87bn market capValued at $9.2bnReached unicorn statusSuccessful private companySold to Permira for $1bn$2.02bn market capSold to KKR for $681Reached unicorn status$1.46bn market cap

Reached unicorn statusSold to Google for $1.1Valued at $20bn $4.45bn market capSuccessful private company$1.57bn market capSold to Axel Springer for $228m$11.78bn market cap$1.05bn market cap$12.10bn market cap$5.70bn market cap

$44.88bn market cap$60.20bn market cap$8.11bn market cap$103.97n market capPrivate company$63.12bn market cap$74.06bn market capGovernment controlled company$24.40n market cap$33.10bn market cap$498.28bn market cap$850.26bn market capAcquired by AOL$1.23bn market cap$12.32bn market cap$24.76bn market cap$1.10bn market cap$13.31bn market cap$7.66bn market cap$106.81bn market cap$20.93bn market cap$97.86bn market cap$6.20bn market cap$11.48bn market cap$7.97bn market cap$117.92bn market cap$427.73bn market cap$16.63bn market cap$12.58bn market cap$32.89bn market cap$304.26n market cap$19.72bn market cap

Total Capital Raised: $34bn Total Valuation: > $150bn

26

• Deal Value Top 100: EUR 90bn• Deal Value on NOAH Stage: EUR 51bn (56%)• 52% of Top 100 Deals presented at NOAH

THE TOP 100 DIGITAL EUROPEAN M&A DEALS BY SIZE IN THE LAST 8 YEARS We hosted on main stage 52% of the top 100 digital M&A Exits (€51bn combined EV)

in Europe since the launch of NOAH Conference in Nov 2009

Jun 16Aug 15May 11Nov 15Oct 17Mar 15Oct 16May 17May 18Jul 18Oct 15Jan 14Nov 13Sep 14May 18Dec 16Dec 16Sep 14Jul 17Jul 16Mar 15Jan 17May 14Jun 13Sep 14Jul 14Dec 12Feb 14Jul 15Jun 18Feb 14Dec 14Sep 10Aug 18Feb 15Jan 15May 15Feb 17Oct 15Jul 13Apr 16Feb 15Mar 16Jul 13Aug 18May 18Mar 14Feb 11Feb 15Apr 11Sep 10Jan 14

Oct 14Jan 14Jan 13 Dec 17Feb 12Jul 18Aug 14Aug 15Jul 10Sep 16Mar 17Jul 18Apr 16Feb 13Jul 18Jul 18Sep 18Jun 15Mar 16Jun 15Jul 14Apr 15May 17Dec 14Jan 11Feb 17Feb 15May 12Aug 12Aug 15May 15Mar 15Jun 12Apr 16Dec 14Dec 16May 11Jun 10Jul 18Jun 14Mar 11Jan 17Apr 16May 14Sep 14May 16Jul 18Jun 17

TencentPaddy PowerMicrosoftActivision BlizzardHellman & FriedmanYOOXCinven, Permira, Mid EuropaMoody’sSilver Lake; GIC Special InvestmentsEQT PartnersNaspersApax PartnersHellman & FriedmanMicrosoftPayPalGo DaddyCtripmail.ruIngenicoAVAST SoftwareOptimal PaymentsZhejiang Jinke EntertainmentPermiraGoogle Access IndustriesIngenicoExpediaCVC Capital PartnersDeutsche BoerseAlibabaRakutenAdobeAxel Springer VerlagSiemensRocket InternetKKRDelivery Hero Priceline GroupExponent. ElectraCinven Vente-PrivéeRocket InternetHgCapitalTPGHewlett PackardOracleBC PartnersOdigeo (AXA and Permira)Immowelt TA & Summit SchibstedZynga

PublicisGoogle IngenicoAppleAholdOrangeDelivery Hero StröerPermiraProSiebenSat.1AlticeScout24RakutenPartners GroupEQT PartnersUltimate SoftwareMunich ReVivendiShandong Hongda Mining Co.7CommerceKKRZooplaMTGeSureAmazon Take-TwoTamediaNTT DOCOMOAXA Private EquityAdidasRecruit HoldingsRecruit HoldingsNaspersAccorHotelsHost EuropeGeneral AtlanticLBO FranceRakutenStamps.comBestsellerPrivalia EMKNokiaAxel Springer DigitalNeiman Marcus eBayTakeawayHoffman

Supercell (84%)Betfair Group (merger)SkypeKing.comNets GroupNet-a-Porter (merger)AllegroBureau van DijkZPGSUSEAvito (50.6%)Trader Media GroupScout24 MojangiZettleHost Europe GroupSkyscannerVkontakte (remaining 48%)BamboraAVG TechnologiesSkrillOutfit7TeamviewerWazePerform GroupGlobalCollecttrivago (61.6%)Avast Software360TTrendyolViberFotoliaSeLoger (87.6%)MendixHelloFresh (51.7%)thetrainline.comYemek Sepeti (88.6%)Momondo GroupPhotoBoxHost Europe PrivaliaDelivery Hero (30%)RaetTSL EducationApogee CorporationGrapeshotCarTrawlerOpodoImmonet (merger)BigpointLeBoncoin (remaining 50%)NaturalMotion

Matomy (24.9%)DeepMind OgoneShazamBol.comBasefarmPizza.deInteractiveMediaeDreamsParship (51%)Teads.tvFinanzcheck.deCabifySoftonic (30%)Banking CirclePeopleDocRelayrDailyMotion (80%)JagexVerivox (80%)Scout24 Schweiz & Omnimedia (49%)uSwitchInnoGames (30%)Gocompare (50%)LoveFilmSocial PointRicardoBuongiornoBestsecret.comRuntasticWahanda (70%)Quandoo (92.9%)Netretail (79%)OneFineStayIntergeniaHemnet (majority stake)PromovacancesPriceMinisterMetaPackM&M DirectDress for LessLuminatiWithingsYad2Mytheresa.comTicketbis10bisContorion

FinlandUKLuxemburgUKDenmarkUKPolandNetherlandsUKGermanyRussiaUKGermanySwedenSwedenGermanyUKRussiaSwedenNetherlandsUKSloveniaGermanyIsraelUKNetherlandsGermanyCzech RepublicGermanyTurkeyCyprusEuropeFranceNetherlandsGermanyUKTurkeyUKUKUKSpainGermanyNetherlandsUKUKUKIrelandUKGermanyGermanyFranceUK

IsraelUnited KingdomBelgiumUKNetherlandsNorwayGermanyGermanySpainGermanyFranceGermanySpainSpainDenmarkFranceGermanyFranceUKGermanySwitzerlandUKGermanyUKUKSpainSwitzerlandItalyGermanyAustriaUKGermanyNetherlandsUKGermanySwedenFranceFranceUKUKGermanyIsraelFranceIsraelGermanySpainIsraelGermany

9,6876,8245,8994,5394,290 3,1203,0333,0002,8502,2722,1522,1262,0001,9321,864 1,6901,6221,5981,5001,1701,1001,000870863858820774738725661658645634628623595594586546508500496470464456454450450420408400388

383365360353350350300300300300300285283275272 272 272271270262262260260241236234228223223220218213213212210208200200197177175170170167150148135130

Date DateAcquiror AcquirorTarget TargetTarget Country Target CountryAdjusted EV (€m) Adjusted EV (€m)

Note: Digital Companies trade sale exits (only one most recent deal counted per company). Green font denotes speaker at NOAH. 27

62.5008.0005.0004.7803.6673.2703.0002.8002.8002.7292.5002.0001.8001.550

1,500+1,500+

1.2001.1001.0501.0001.0001.000

846800800800706680644620617600589570550450440345340320311300250241240236228219210200200200190166148134120120

100+100100100

7050

Jun-16May-11Nov-13Nov-15Ago-15May-17Sep-14May-17Ene-14Oct-15Nov-13Sep-17Nov-12Mar-15Ene-14Dic-14May-14Jun-13Dic-12Sep-14Mar-14Mar-14Ene-11Dic-14Feb-14Oct-13Feb-15Ene-15May-08Mar-14Oct-15Abr-11May-15Abr-16Feb-17May-12Sep-15Feb-13Sep-16Ene-11Oct-12May-16Jul-12Abr-16Ago-15Jun-15May-14Mar-15Oct-14Jul-14May-14Abr-17Oct-14May-16Jun-16Jun-12Jun-17Mar-15Sep-14Oct-14Jun-14Oct-13Sep-17Oct-12

@ NOAH16@ NOAH09@ NOAH09@ NOAH15@ NOAH09@ NOAH16@ NOAH16@ NOAH17@ NOAH11@ NOAH13@ NOAH16@ NOAH16@ NOAH10@ NOAH09@ NOAH10@ NOAH16@ NOAH16@ NOAH11@ NOAH11@ NOAH09@ NOAH13@ NOAH12@ NOAH11@ NOAH14@ NOAH09@ NOAH12@ NOAH15@ NOAH11@ NOAH16@ NOAH16@ NOAH17@ NOAH15@ NOAH14@ NOAH13@ NOAH16@ NOAH09@ NOAH16@ NOAH09@ NOAH16@ NOAH10@ NOAH10@ NOAH16@ NOAH11@ NOAH15@ NOAH16@ NOAH15@ NOAH12@ NOAH14@ NOAH11@ NOAH16@ NOAH10@ NOAH17@ NOAH12@ NOAH15@ NOAH16@ NOAH16@ NOAH16@ NOAH16@ NOAH12@ NOAH10@ NOAH13@ NOAH12@ NOAH16@ NOAH11

USLuxembourgSwedenUKUKNetherlandsGermanyGermanyUKRussiaGermanyUKUSUKFranceThe NetherlandsGermanyUSGermanyUKSwedenCzech RepublicFranceUSUKUKGermanyUKGermanyIrelandUKGermanyTurkeySpainUKFranceUSSpainGermanyUKGermanyIsraelCzechRepublicUKAustriaGermanyIsraelGermanyUKSwitzerlandTurkeyUSGermanySpainUSUKGermanyUKItalySpainIsraelIsraelGermanyGermany

Mega Fund Raise

Multiple Mega Fund Raises

Various Mega Fund Raise Mega Fund Raise

(Minority)Multiple Fund Raises

Multiple Fund Raises

(Controlling) (Undisclosed %) (51.7%)

(60%)

(50%)

(30%)

Multiple Fund Raises

(50%)

75,679

11,956

8,276

6,813

6,072

4,367

3,974

3,020

2,743

2,741

2,681

1,902

1,319

324

204

123

107

Jul-15

Sep-14

Oct-10

Jun-17

Abr-14

Oct-15

Oct-14

Nov-13

May-14

Oct-13

Dic-16

Sep-16

Ene-12

Abr-14

Abr-14

Jul-14

May-15

@ NOAH17

@ NOAH16

@ NOAH09

@ NOAH17

@ NOAH17

@ NOAH16

@ NOAH16

@ NOAH12

@ NOAH17

@ NOAH11

@ NOAH12

@ NOAH17

@ NOAH09

@ NOAH13

@ NOAH12

@ NOAH12

@ NOAH10

US

Germany

UK

Germany

UK

Germany

Germany

Israel

US

France

Germany

The Netherlands

Czech Republic

Spain

Switzerland

Israel

Germany

Real Winners on StageThe NOAH Conference consistently features winners of the future, often before they are widely known. Over the last 8 years, companies raised or were acquired for a total of well over $50 billion after presenting on the NOAH stage.

IPO

DATE COMPANY ON STAGE HEADQUARTERSCURRENT MARKET CAP ($M)

®

NOAH

Advisors was the

sell-side advisor

M&A

DATE COMPANY ON STAGE HEADQUARTERS BUYER VALUATION ($M)

Contact us:sponsorships@noah-conference.com

Past Event Partners & Sponsors NOAH London

Past Event Partners & Sponsors NOAH Berlin

We are looking for strong partners You are in good company

29

®®

NOAH DISRUPTOR LIST

The NOAH Bible is a bi-monthly publication with a dedicated focus on European Internet companies. Here are a few highlights on what to expect.

• State of the web: traffic benchmarking of the largest B2C sectors• Latest sector valuations and operational KPIs• The most significant transactions in the last few years• Recent developments and program for the NOAH Conference (London & Berlin)

Overview of the hottest companies by funds raised.

Check our NOAH Disruptor List to see:• The companies that will change the future of entire industries• Relative funding by industry vertical• Funding split Europe vs. US• Most active investors by vertical

NOAH BIBLE (Newsletter) Downloads (PDF)

Downloads (PDF)

Edition: May 2015

Edition: May 2015

Edition: December 2016

Edition: July 2015

Edition: September 2015

Edition: November 2015

Edition: February 2016

Edition: April 2016

Edition: September 2016

Edition: December 2016

Edition: March 2017

Edition: June 2017

Request Conference Invite

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NOAH Advisors Overview

Edition: September 2017

Edition: December 2017

Edition: March 2018

Edition: June 2018

Edition: September 2018

Edition: December 2018

30

Foto: Gregor Fischer / dpa

Foto: REUTERS

Eine Konferenz für die Gründer der digitalen Welt

Noah lockt Google-Titan EricSchmidt nach Berlin

Auf der Start-up-Konferenz Noah im Tem-podrom berät die IT-Szene über die Zukunft Europas. Gründergeist trifft dabei auf Kapital. Read more

Bei der Start-up-Konferenz Noah stehen Start-ups gar nicht im Mittelpunkt, sondern Firmen, die bereits Erfolge vorweisen kön-nen. Das lockt Manager wie Eric Schmidt, Oliver Samwer oder Mathias Döpfner. Read more

Berliner Morgenpost 09.06.15

Manager Magazin 11.15

Die Welt 11.05.15

Selected Press Clippings

Sechs Dinge, die unser Reporter über unsere Zukunft gelernt hat

Tag 1 der wichtigsten IT-Konferenz Europas

Die Noah-Konferenz – ein Beinahe-Präsident und viele Female Founders

6 Lektionen von der Digitalkonferenz NOAH 17

Auf zwei Veranstaltungsbühnen (das große Col-osseum, das kleinere Theater) stehen dabei die Ideen, wie unser Leben, unser Bankgeschäfte, unsere Mobilität oder Gesundheitsvorsorge in Zukunft aussehen werden. Read more

Die Highlights der NOAH. Read more

Die Noah-Konferenz 2018 in Berlin wartete mit einem besonderen Highlight auf — daher beginnen wir den heutigen Bericht mit Im-pressionen von Tag 1. Nicht, weil die Party bis spät in die Nacht ging. Sondern weil als krönender Abschluss Al Gore die Bühne betrat.. Read more

B.Z. 08.06.16

Bild 08.06.16

Munich Startup 06.06.18

Business Insider 24.06.17

®

Bei dem Digital-Event der NOAH Advisors waren dieses Jahr so viele Einhörner ver-sammelt wie bei keiner anderen Konferenz. Zum Beispiel der Online-Bezahldienst Stripe, der einen seinen Gründer, John Collison, zum jüngsten Selfmade-Milliardär der Welt machte. Oder das Lieferdienst-Portal Deliv-ery Hero, das Ende Juni an die Börse geht.Read more

NOAH Conference London Attracts Almost 2,000 Participants to Old Billingsgate

On 10 and 11 November 2016, the 8th NOAH Conference London was held in Old Billingsgate with the motto “Leaders Connected”. 1.850 participants gathered in Tower Hill, more than the year before, for the European internet and digital economy’s largest industry event. These included cor-porates such as Deutsche Börse Group, Credit Suisse and Porsche, and fast growing companies such as N26, BlaBlaCar and Adyen. Read more

Fintech Finance 15.11.16

Neben Mike Tyson und Peter Altmaier: 3 Take-aways von der NOAH 2018Seit 2009 bringt die NOAH „European Champions und Challengers“ zusammen. Wir waren bei der diesjährigen Veranstaltung im Berliner Tempodrom dabei und haben gelernt, warum Mike Tyson ein Strategie-experte war, Peter Altmaier kein WhatsApp nutzt und welche 3 Faktoren einen richtigen „Challenger“ ausmachen! Read more

Gründer Daily 14.06.18

Größen der Mobilitätsbranche versammeln sich auf der Noah Conference 2018 in Berlin

Business On 30.05.18

Auf der Noah Conference Berlin, dem führenden Branchen-Event der europäischen Internet- und Digitalwirtschaft, kommt dieses Jahr am 6. und 7. Juni in Berlin die Elite der Mobilitätsbranche zusammen.Wenn Uber seinen neuen CEO, Dara Khos-rowshahi, nach Europa schickt und FlixBus seinen Geschäftsführer entsendet, dann nicht ohne guten Grund. Read more

31

SELECTED NOAH SPEAKERS

Pieter van der DoesCEO

Marco PescarmonaCo-Founder & CEO

Olivier AizacFounder & CEO

Bruce AustVice Chairman

Carl ShepherdCo-Founder

Martin VarsavskyFounder

Oleg TscheltzoffFounder & CEO

Niklas AdalberthFounder

Jens BegemannCo-Founder & CEO

Yair GoldfingerFounder & CEO

Lars HinrichsFounder

Niklas ÖstbergCo-Founder & CEO

Jacob AqraouVice Chairman

Tomer Bar-ZeevCo-Founder & CEO

Rolv Erik RyssdalCEO

Nicolas BrussonCo-Founder & CEO

Mike LynchFounder & CEO

Dr. Christian WegnerMember of Exec. Board Digital & Adj.

Dave WaiserFounder & CEO

Oskar HartmanFounder & President

Malte SiewertManaging Director

32

SELECTED NOAH SPEAKERS

Henry BlodgetCEO & Editor-in-Chief

Oliver SamwerFounder & CEO

Sina AfraFormer CEO

Sigmar GabrielFederal Minister for Econ.

Affairs & Energy

Riccardo ZacconiFounder & CEO

Uri LevineFormer President

Eric SchmidtExecutive Chairman

Michelle KennedyDeputy CEO

Pierre Kosciusko-MorizetFounder

Dr. Mathias DöpfnerCEO

Martin SchulzPresident European Parliament

Greg Ellis CEO

Olaf KochCEO

Peter PlumbCEO

Nilesh PandyaCEO

Arianna HuffingtonCo-Founder & Editor-in-Chief

Niklas ZennströmCEO

Errol DamelinCEO

Günther OettingerEuropean Commissioner

Digital Economy & Society

Branko MilutinovicCEO

Iñaki EcenarroFounder & ex-CEO

33

SELECTED NOAH SPEAKERS

Sonali De RyckerPartner

Dr. Jens MüffelmannCEO

Fabrice GrindaCo-Founder

Dr. Klaus HommelsFounder & CEO

Patrick HealyDeputy CEO

Avishai AbrahamiFounder & CEO

Dom VidalPartner

Bo IlsoeManaging Partner

Dr. Tim SieversFounder & CEO

Glenn FogelCEO

Martin SorrellCEO

Michael Jackson Partner

Jörg MohauptPartner

Philipp FreisePartner

Scott CollinsManaging Director

Zita SaurelManaging Director

Deven ParekhFounding Partner

Dr. Stefan GlänzerFounding Partner

Thomas EbelingCEO

Rainer MaerklePartner

Jonathan MeeksManaging Director

34

SELECTED NOAH SPEAKERS

Dr. Dieter ZetscheChairman of the Board of Management

Peter TeriumCEO

Jonas DrueppelCEO

Jessica FedererHead of Digital Development

Hakan KoçFounder & MD

Silvio PaglianiCo-Founder

Simone Menne Supervisory Board Member

of BMW, DPDHL, Springer Nature

Florian GschwandtnerCo-Founder & CEO

Ragnar SassCo-Founder

Rubin RitterMember of the Management Board

Herbert HainerCEO

Dr. Markus Pertlwieser CDO Private, Wealth &

Commercial Clients

Ralph HamersCEO

Johannes ReckFounder & Co-CEO

Lucas von CranachFounder & CEO

Travis KalanickFounder

Henrik HerrHead Germany & Austria

International Wealth Management

Rudolph W. GiulianiGlobal Chair Cybersecurity, Privacy & Crisis

Management Practice CEO & Executive Chairman

Michiel GorisCEO

Dr. Friedrich SchwandtFounder & CEO

Chris MortonFounder & CEO

35

SELECTED NOAH SPEAKERS

Martin OttVP, MD Central Europe

Dror EfratFounder & CEO

Lucas Carne Co-Founder & CEO

Jochen EngertFounder & Managing Director

Nir ErezFounder & CEO

Dan BrodyVP Business Development

Adam Singolda Founder & CEO

Julia BöschManaging Director & Founder

Hans-Holger AlbrechtCEO

Henrich BlaseCEO / Owner

Valentin StalfFounder & CEO

Filip EngelbertCo-Founder

Chris OhlundCEO

Alexander Graubner-MüllerCo-Founder & CEO

Robert LangCEO

Or Offer CEO

Michael GrossVice Chairman

Stan LaurentPresident & CEO

Andreas KoenigFormer CEO

Joey LevinCEO

Pere VallèsFormer CEO

36

Elicia Bravo Chief Strategy Officer

Hugo BurgeCEO

JC OliverChief Creative Officer

Fabian SiegelFounder & CEO

Boaz YaariCEO

Andy HancockManaging Director

Alexandre FontaineCo-Founder

SELECTED NOAH SPEAKERS

Avid Larizadeh DugganGeneral Partner

Yoni AssiaFounder & CEO

Felix PlogCo-Founder & COO

Dr. Caren Genthner-Kappesz - CEO

Marta KrupinskaGM & Co-Founder

Markus WitteCEO

Carsten KengeterCEO

Reshma SohoniFounding Partner

Josh JamesFounder & CEO

Joelle FrijtersCo-Founder & CEO

Uwe Weiss CEO

Elodie DupuyPrincipal

Ralf ReichertCEO

Fabio CannavaleCo-Founder

37

Oliver DlouhyCEO

Rolf SchrömgensCo-Founder & CEO

Peter SmithCo-Founder & CEO

Clare GilmartinCEO

Jitse GroenCEO

Friedrich JoussenCEO

Eugene MizinCEO

SELECTED NOAH SPEAKERS

Donata HopfenCEO

Robert GentzCEO

Dr. Andreas WielePresident Marketing & Classified

Ad Models

Whitney Wolfe Herd Founder & CEO

Dr. Ali ParsaFounder & CEO

John CollisonCo-Founder & President

Michelle ZatlynCo-Founder

Clark StaceyCEO

Mikkel SvaneCEO

Gisbert RühlCEO

Dr. Richard Lutz CEO

Nico GabrielCEO

Jose NevesCEO

Kevin H. Johnson CEO

38

Jaidev JanardanaCEO

Alicia NavarroFounder & CEO

‎Hendrik KlindworthCEO

Ofer VilenskiFounder & CEO

Philipp ManCEO

Nimrod LehaviCo-Founder & CEO

SELECTED NOAH SPEAKERS

Remo GerberCCO

Anne BodenFounder & CEO

Carlo KoelzerCEO

Geoff CookCEO

Florian ReuterCEO

Andrey AndreevFounder

Sebastiaan VaessenHead of Strategy

Samir DesaiCo-Founder & CEO

Mike HudackCTO

Dr. Carolin GaborManaging Director

Alan MamediCo-Founder & CEO

Ankur Shah CFO

Katharina LuethHead of Europe

Nikolay StoronskyFounder & CEO

Carlota PiCo-Founder & CEO

39

David AvgiCEO

Rob MoffatPartner

Erik PodzuweitCo-Founder & Co-CEO

David ThevenonPartner

Philipp PausderFounder & Managing Director

Dr. Julian HospFounder & CEO

SELECTED NOAH SPEAKERS

Payal KadakiaFounder & Executive Chairman

Claudia NematCTO

Dr. Bernd MontagCEO

Marc-Alexander ChristCo-Founder

Dara KhosrowshahiCEO

Al GoreChairman

Robbie AntonioCEO

Dominik RichterCEO

Harley MillerVice President

Peter AltmaierFederal Minister for Economic

Affairs and Energy

Joanna PrzetakiewiczFounder & Creative Director

John SuhCEO

Dr. Patrick AndraeCo-Founder & CEO

Markus VilligFounder & CEO

Julian TeickeCEO

40

The NOAH Team® ®

www.noah-conference.comwww.noah-advisors.com

Marco RodzynekManaging Director & Founder

Jan BrandesManaging Director

Dr. Gerhard CrommeChairman

Justus LumpeManaging Director

Nikhil ParmarDirector

Aleksander SkwarczekAssociate

Banking Team Conference Team

Marina KrolovichData Manager

Maria del Mar PérezCTO

Paula GarcíaVP NOAH

Marco BombachCreative Director

Gema AlbaNew Media Designer

Daniel WasowiczHead of Data Team

Lukas SchlundAnalyst Hadar Shalev

Key Account Manager

Gabriela Clauss Customer Relations & Sales

NOAH Advisors provides corporate finance services to the digital sector in Europe

September 2015

May 2014

July 2015

February 2013

May 2016

August 2014

December 2014

May 2012

September 2014

December 2011

October 2014

April 2012

Sale of a 70% stake in Primary funding forInvestment in

tofrom

by

Exclusive Financial Advisor to Drushim and its Shareholders Advisor to BIScience

Exclusive Financial Advisor to 10Bis and its Shareholders

Sale of 100% of

for $800m to

Exclusive Financial Advisor to Fotolia and the Selling Shareholders

Sale of 100% of

for €80m to

Exclusive Financial Advisor to Trovit and its Shareholders

Sale of controlling stake in

to

Exclusive Financial Advisor to Facile.it and its Shareholders

sold 100% of

sale to

Sale of 100% inFund raising for

for $228m to a joint venture between

to

from various investors including Angel Investors

Exclusive Financial Advisor to Yad2 and its Shareholders

Advisor to the Selling ShareholdersFinancial Advisor to Toprural

and its ShareholdersAdvisor to Work4 Labs

Growth equity investment from

for a 30% stake alongside Softonic’s Founders

and Angel Investors at a valuation of €275m

Exclusive Financial Advisor to Softonic and its shareholders

$150 million growth equity investment from

for a 50% stake alongside Fotolia’s Founders and TA AssociatesAdditional $150 million senior

debt financing

Financial Advisor to Fotolia and its Shareholders

September 2016October 2016December 2016July 2018September 2018 August 2017

Acquisition of a Majority Stake inInvestment inInvestment inSale of 100% in Acquisition of a Majority Stake in

Financial Advisor to Oakley CapitalExclusive Financial Advisor to

KäuferPortal and its ShareholdersFinancial Advisor to Silver Lake

Exclusive Financial Advisor to PromoFarma and its shareholders

Financial Advisor to 10bis and its shareholders

Financial Advisor to EMK Capital

by

from

byby

to by

at a valuation of €300m84% Ownershipat a valuation of $200m

Sale of 100% in

for €135m to

10Bis

10Bis