Company Pitch by Covomo at the NOAH Conference 2018 in London, Old Billingsgate 30-31 October 2018.

1. STRICTLY CONFIDENTIAL | 10/2018
Revolutionize the way product insurance is
brought to market and sold
prepared for: NOAH London 2018

2. Three Conferences, One Mission: Empower the European Digital Ecosystem
To provide a physical marketplace
that facilitates funding of
digital European companies
at all stages
Mission Mission Mission
To promote Israel - European
relationships and enable funding
To bring together future-shaping
executives and investors active
across segments driven
by digital revolution
Connecting
Capital with
Entrepreneurs
Connecting European
Champions
and Challengers
Connecting Israel’s Startups
with Large Corporates
and Investors
30-31 October 2019
Old Billingsgate, London
13-14 June 2019
STATION Berlin
9-10 April 2019
Hangar 11, Tel Aviv

3. STRICTLY CONFIDENTIAL | 10/2018
Introducing Covomo Versicherungsvergleich GmbH
1
VISION
Empower people to easily protect the
things they care about, wherever and
whenever they want.
MISSION
Become the category killer for product
insurance by offering the leading B2B
distribution platform and the best
on-demand insurance in the market.
KEY FACTS
 Founded in 2014, go-to-market in 2015, 15
employees, based in Frankfurt a.M., Germany
 More then 25.000 insurance contracts with over
1,5 Mio. EUR premium payments sold
 Insurance-as-a-Service distribution platform with
more than 1,500 insurance tariffs (travel, pets,
electronics, (e-)bikes, drones, instruments, events,
etc.)
 Scalable, modern, modular, easy to use technology
for seamless integration in every sales channel
 Strong track record of over 1,500 B2B partnerships
in German broker market
 Launching Germany‘s first on-demand insurance
product “covr.it”

4. STRICTLY CONFIDENTIAL | 10/2018
Challenge: EUR 11 bn German product insurance market is
growing rapidly but policies are not sold efficiently
2
∑
Dental, Hospital,
etc.
Sports & Leisure
(E-)Bikes
Electronics
Pets
Travel
CAGR 11%
CAGR 10%
CAGR 13%
CAGR 6%
 70 mn holiday travels booked per year
 24 mn smartphones and 17 mn PCs & tablets sold
per year
 3 mn e-bikes and 74 mn bikes existed in 2017
 More than 0.4 mn drones sold per year, 1.3 mn
drones existed in 2017
10.8
1.6
1.3
2.7
1.4
1.0
2.8  More than 25 mn supplementary insurance contracts
existCAGR 11%
 34 mn pets live in households
GERMAN PRODUCT INSURANCE in EUR bn KEY FACTS GERMANY
CAGR 8%
Note: Market sizes for year 2022
Product insurance grows
much faster than main
insurance products (CAGR
of only 2%)
First timer market, i.e.
customers buy these
products the first time
Increasing spend for
travel, pets, electronics,
e-bikes, etc.
High margins of up
to 40% on premiums
paid

5. STRICTLY CONFIDENTIAL | 10/2018
Our solution: combination of a powerful distribution platform
with Germany‘s first on-demand insurance product
3
Aggregator with > 1,500 product insurance
tariffs, own booking engine for seamless
integration, and powerful B2B partnerships
DISTRIBUTION PLATFORM
(“Insurance-as-a-Service”)
First on-demand or pay-per-use insurance for
smartphones, laptops, cameras, and (e)-bikes,
integrated in a digital safe
DIGITAL INSURER
+
API
Covomo has it all to become the category killer for product insurance

6. STRICTLY CONFIDENTIAL | 10/2018
Meet covr.it – Germany‘s first on-demand, pay-per-use insurance
4
covr.it offers a digital safe with customized insurance policies for
most valuable belongings, also to be available as a white label.
User selects items she wishes to cover and only pays for
those. The insurance can be activated or deactivated in a
few seconds via the app.
Claims are handled via a chat bot. User stays informed in real
time about her cover, possible changes or eventual queries,
reducing waiting periods, decreasing costs and improving
customer satisfaction.
Thanks to user profiling and dynamic pricing we are
able to give best offers to our best customers.
Timely fraud detection through machine learning and
image recognition reduces costs and decreases prices
even further.

7. STRICTLY CONFIDENTIAL | 10/2018
The covr.it product based on Covomo’s expertise considerably
extends our value chain…
5
Covomo takes over a larger part of the value chain and allows for an individual experience
combined with low operating costs thanks to the use of top-notch technologies
Our unique advantage
Using extensive data acquired via
Covomo’s distribution platform over
years of operations we create, price,
launch and manage the best own
insurance products based directly on
the customer needs and brought to
market with the shortest lead times
Proven business models
Product &
Pricing
Underwriting
& Operations
Premium
Collection
Claims
Mgmt
DistributionRisk Carrier
“INSURANCE-AS-A-SERVICE”
(existing) (new)(new)(Re)Insurer

8. STRICTLY CONFIDENTIAL | 10/2018
...and will also have the highest impact on premium volume
in the future
6
2015A 2016A 2017A 2018E 2019E 2020E 2021E
Pools & Software Brokers Non-Broker Direct
Premium volume (in EUR k) Due to our own product covr.it and
the focus on non-broker channels
premium volume will continue to
increase rapidly
CAGR 2015A-2017A:
 Pools & Software: 2,791%
 Brokers: 166%
 Non-Broker: 3%
 Direct: 48%
CAGR 2018E-2021E:
 Pools & Software: 63%
 Brokers: 83%
 Non-Broker: 439%
 Direct: 55%
2015A 2016A 2017A
+
81
273
490
30,388
7,291
1,813
1,019
CAGR
+210%
CAGR
+147%

9. STRICTLY CONFIDENTIAL | 10/2018
Meet the Covomo Team
7
Dr. Eberhard Riesenkampff
Managing Director, CEO
Simon Nörtersheuser
Managing Director, CSO
 Strong management team with deep
industry expertise and focus on product,
sales and operational excellence
 Key positions filled (technology, product,
sales, key account, operations, etc.)
 New positions planned in 2018 in the
areas of partnerships mgmt/sales and
covr.it technology and operations
 Governance structure set up, advisory
board installed

10. STRICTLY CONFIDENTIAL | 10/2018
5 reasons why you should invest in Covomo’s Series A
8
1
2
4
Growing market
 Global EUR 90 bn
 Germany EUR 11 bn
Scalable and easy to internationalize
 Technology can be integrated into all sales channels and can be used for all insurance products
 Products are fully digital and not consulting-intensive
 Products are the same internationally, not like life insurance, etc.
 Covomo broker-license is valid for all EU countries
3 High margins and recurring commissions
 Margins of up to 40% on premium payments
 Recurring commissions through long term contracts
Experienced team
 Serial entrepreneurs with deep industry expertise
 Experienced investors and thorough governance structure
5
Sustainable entry barriers
 Proprietary distribution platform with strong B2B partnerships
 Unique advantage for own insurance products with own brand “covr.it”
 On track to becoming the category killer for product insurance

11. STRICTLY CONFIDENTIAL | 10/2018
Disclaimer
The information contained in this presentation have been researched by us with due care and all and any evaluations or assessments
stated herein represent our personal opinions. We advise you that some of the available information has been independently verified and
may be based on statements by third persons, but no representation or warranty, expressed or implied, is made as to, and no reliance
should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein. Certain
statements contained herein may be statements of future expectations and other forward-looking statements that are based on our
current personal views and assumptions and involve known and unknown risks and uncertainties that cause actual results, performance or
events to differ materially from those expressed or implied in such statements. None of our team shall assume any liability whatsoever (in
negligence or otherwise) for any loss howsoever arising from any use of this presentation or the statements contained herein as to
unverified third person statements, any statements of future expectations and other forward-looking statements, or the fairness,
accuracy, completeness or correctness of statements contained herein, or otherwise arising in connection with this presentation.
This presentation does not constitute an offer or invitation to purchase or subscribe for any investment and neither it nor any part of it
shall form the basis of or be relied upon in connection with any commitment or contract whatsoever, and is solely intended to
communicate a favorable impression of our team members and their business track-records. No one should base their investment
decisions on this presentation, which principally constitutes an advertising message, as their main source of information or reliance but
should form their personal opinions solely on the basis of further available information and evaluations and assumptions. The legal
documentation held ready for any prospective investor shall be authorized as the sole source of relevant information and neither it nor
any part of it shall constitute any representation, warranty or other undertaking, expressed or implied, as to the economic success of the
offered investments.
9
Contacts
Dr. Eberhard Riesenkampff Simon Nörtersheuser

12. Selected Completed NOAH Transactions
Focus on Leading European Internet companies
Covering over 400 companies across 25 online
verticals, a broad range of over 500 investors
as well as 100+ online-focused corporates
Deep understanding of industry dynamics
Ability to add value beyond banking advice
Facilitates overall process and minimizes
management distraction
NOAH Advisors is globally well connected
and has direct access to virtually all key
players in the industry
Knowledge of and strong relationships with
potential buyers’ key decision makers
Proactively finds and unlocks attractive
investment opportunities for leading investors
Annual NOAH Conference in its 8th year
Over 40 years of combined relevant M&A
experience
Routine execution of M&A and financing
transactions with sizes of several billion euros
25+ successfully completed NOAH Advisors
transactions underline successful transfer of
M&A competencies to the Internet sector
Entrepreneurial mind-set, focused on growing the
business and establishing a reputation for excellence
Ability to deliver top results in short time frames
Highly success-based compensation structures
align interests of clients and NOAH Advisors, and
demonstrate conviction to deliver top results
Creative deal solutions
December 2014
October 2014 May 2014
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
sold 100% of
for $228m to a joint venture between
Exclusive Financial Advisor to Yad2
and its Shareholders
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE
July 2018
December 2016
October 2016
®
Marco Rodzynek
Managing Director & Founder
Jan Brandes
Managing Director
The NOAH Advisors Core Banking Team
Nikhil Parmar
Director
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
Exclusive Financial Advisor to
PromoFarma and its shareholders
Financial Advisor to Silver Lake
Investment in
by
September 2018
August 2017
Financial Advisor to 10bis
and its shareholders
Financial Advisor to EMK Capital
Acquisition of a Majority Stake in
by
at a valuation of $200m
Olek Skwarczek
Analyst
Lukas Schlund
Analyst
Sale of 100% in
to
Sale of 100% in
for €135m to
10Bis