B2B Software & Services: Company presentation by Tom Dugarin, General Manager UK at Knotel, at the NOAH Conference London 2019, 30-31 October, Old Billingsgate.

1. NOAH London
October 31, 2019

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3. Traditional office solutions
weren’t designed to adapt
Inflexible desks,
workstations & layouts
2
Significant capital
investments, CapEx
Limited branding
and tailoring
Rigid, inflexible
long-term leases
Long-term balance
sheet liabilities
Traditional lease: 5-10 Years
Hiring Plan: 2 Years
Operating Plan: 2-4 Years

4. 333
Knotel is a flexible office
platform that powers
your people, productivity,
and business
Flexible, short-term agreements
Workspaces that match your brand
Speed
All-in-one inclusive pricing and services
Global real estate platform

5. 44
Coworking
Clients Enterprise, growth & venture-backed companies Freelancers, smaller teams
Average Team Size Majority are 50+ <10 people
Turnover Low churn High churn, continuous turnover
Typical Duration 1 to 3+ years Month-to-month
Layout Open, modern spaces Single purpose cellular/suites
Density Standard office High (over crowded) e.g. 30-40 sq ft per person
Infrastructure Impact Standard office Significant wear and tear
Build Fast, low-cost, lightweight, re-purposable Expensive, slow, partitioned, specific to co-working
Furniture and IT Included, tiered based on price Included
Branding Customized to Client Coworking branded
Knotel’s focus is work, not coworking

6. 55
Flexible office
is here to stay
• The global office market is a
$2.5 trillion industry that remains
regionally focused and fragmented
• Flexible office space is expected to
represent 30% of the total office
market by 2025: a $750 billion
opportunity
• Flexible office grabbed 11% of
Manhattan’s 2018 leasing activity,
up 3.5x from 2017
Total Addressable Market
Total Office Market
$2.5 TN
Source: Agency research, JLL research
Flexible Workspace Model Penetration
30%
Flexible
Office
$750 BN
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
<1% 1% 1% 2%
3%
4%
6%
9%
13%
20%
30%

7. 66
Knotel By The Numbers
6
4.7MSqFt
15Cities
260Customers

8. 7
London
Footprint
As of September 2019
• 22 centres
• 360k sqft
• 40 Knotel member companies
• Varied landlord portfolio
• 50+ team in London
7

9. 8
Knotel vs. the Traditional London Lease Route
8
Traditional Lease
Term Flexible 5 or 10 Years
Time Taken 2 Weeks Min. 3 months
Parties Involved Knotel, Broker Brokers, landlords, lawyers, designers, architects, contractors, vendors, IT specialists
Docs. Required Knotel service agreement
Head/sub lease, rent deposit deed, local authority searches, wayleave agreement,
schedule of condition, completion statement, SDLT statement, etc.
Fit Out 0 £30 to £100 psf
Furniture 0 £10 to £25 psf
Dilapidations 0 £15 to £25 psf or more
Stamp Duty 0 Significant cash (all upfront)
Broker Fees 0 8-10% of 1st
year rent
Solicitor Fees 0 £15,000 to £30,000
Ongoing Operating Costs 0 £15 to £35 psf
Day 1 Capital Required n/a 2x higher

10. 9
Diverse
Client Base
9
34%
13%
14%
5%
4%
7%
23%
Technology Other Advertising & Marketing
Finance & Insurance Real Estate
Media & Entertainment Retail & CPG
…and 150+ other Fortune 1000 and fast-growing companies

11. 1010
DOMO

12. 1111
lastminute.com

13. 1212
milkbar

14. 1313
Zeus Living

15. 1414
NuBank

17. 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 10th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
30 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
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE®
The NOAH Advisors Core Banking Team
Marco Rodzynek
Managing Director & Founder
Jan Brandes
Managing Director
Nikhil Parmar
Director
Olek Skwarczek
Associate
Lukas Schlund
Analyst
December 2014 October 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
October 2016
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
December 2016
August 2017
Financial Advisor to Silver Lake
Financial Advisor to EMK Capital
Investment in
Acquisition of a Majority Stake in
by
by
at a valuation of $200m
November 2019 July 2019
September 2018
Financial Advisor to MagicLab
Financial Advisor to AU10TIX
and its shareholders
Financial Advisor to 10bis
and its shareholders
Acquisition of a 79% stake in $60m Investment in
Sale of 100% in
by
at a valuation of ~$3 billion
at a valuation of $260m by
for €135m to
10Bis