Select Transaction Comparables (Cont’d) Strategic Buyers Date Acquiror Target Target Adjusted Revenue Multiple EBITDA Multiple Country EV (€m) LTM Forward LTM Forward Adtech May 18 Oracle Grapeshot UK 454.0 Mar 17 Altice Teads.tv France 300.0 1.6x Feb 17 Accenture SinnerSchrader (62%) Germany 100.0 2.0x 21.3x Sep 16 Glispa Global Group Avocarrot UK 0.0 Jun 16 Spearhead Smaato Germany 132.2 May 16 FreeWheel Media StickyADStv France 87.7 Mar 16 RTL Smartclip Germany 50.0 Sep 15 NewsCorp Unruly UK 156.5 3.5x Sep 15 Gravity4 EuroAds Denmark Sep 15 ironSource Supersonic Israel 132.9 1.9x Aug 15 Ströer InteractiveMedia Germany 300.0 Jul 15 FanDuel Kotikan UK Mar 15 Cheetah Mobile MobPartner France 54.9 Oct 14 Publicis Matomy (24.9%) Israel 383.0 1.9x 1.4x 26.9x 12.9x Oct 14 RNTS Media Fyber Germany 150.0 Jul 14 RTL SpotXchange (65%) Germany 165.5 6.0x 44.3x Jun 14 Opera AdColony US 257.3 3.4x 17.5x Jun 14 Amobee Kontera Israel 110.7 Apr 14 Tesco Sociomantic Germany 150.0 9.0x Nov 11 Adconion Media Smartclip Germany 125.0 Others Sep 19 team.blue REGISTER.it Italy 400.0 3.8x Aug 19 Mobileum WeDo Consulting Portugal 86.5 Jul 19 Saxo Bank BinckBank Netherlands 209.95 Jun 19 Accenture SinnerSchrader Germany 138.75 2.1x 17.5x Jun 19 Silverfleet Capital Partners Microgen Financial Systems UK 58.2 2.7x May 19 Nuvei SafeCharge UK 689.0 5.5x 4.8x 23.8x 18.6x Apr 19 SEEK FutureLearn UK 116.2 Apr 19 Getaround Drivy France 268.1 Apr 19 Pure Storage Compuverde Sweden 53.6 Apr 19 Xing Honeypot Germany 57.0 Mar 19 Roper Technologies The Foundry Visionmongers UK 478.5 Mar 19 Raisin MHB-Bank Germany Mar 19 SVMK Inc. Usabilla Netherlands 70.8 Jan 19 Mastercard Earthport UK 242.0 Jan 19 Bridgestone Europe TomTom Telematics Netherlands 910.0 Jan 19 Cedacri OASI Diagram Italy 151.0 Jan 19 Iliad Jaguar Network France 133.0 3.2x 10.6x Jan 19 MCS Solutions Axxerion Netherlands 75.0 Jan 19 DXC Technology Luxoft Holding Switzerland 1,805.7 2.2x 2.1x 20.6x 14.6x Jan 19 Alibaba Group Data Artisans Germany 90.0 Dec 18 Saxo Bank BlinckBank Netherlands 436.0 Dec 18 Coinify BetterCoins Denmark Nov 18 Deltatre Massive Interactive UK 83.6 Nov 18 Legrand Netatmo France Nov 18 Infineon Siltectra Germany 124.0 Nov 18 ForeScout Security Matters Netherlands 102.7 Oct 18 Kape Technologies ZenMate Israel Jul 18 Orange Basefarm Norway 350.0 Jul 18 Scout24 Finanzcheck.de Germany 285.0 Jul 18 Ultimate Software PeopleDoc France 272.7 Sep 18 Munich Re Relayr Germany 272.7 Jul 18 Stamps.com MetaPack UK 197.0 Jun 18 Enel X Ufinet International Spain 142.1 Jun 18 Nets Dotcard Poland 69.0 May 18 Iron Mountain EvoSwitch Netherlands 193.3 May 18 VASCO Digital Dealflo UK 47.9 May 18 PayPal iZettle Sweden 1,864.9 May 18 LoopUp MeetingZone UK 67.2 Feb 18 LexisNexis ThreatMetrix UK 674.0 25.1x Feb 18 Kunlu Tech Opera Software Norway 51.8 Jan 18 Thy Crypto Company CoinTracking Germany 462.2 Jan 18 Urban Sports FITrate Germany 0.0 Dec 17 Ascential Clavis Technology Ireland 157.2 Dec 17 Scheidt & Bachmann ecopark Germany 0.0 Sources: Press articles, Capital IQ. 37 Please email Marco Rodzynek for any comments.