Classifieds - Presentation by Gonzalo del Pozo, CEO of Mitula Group at the NOAH 2015 Conference in London, Old Billingsgate on the 13th of November 2015.

3. NOAH
Presentation
November 2015

4. mitulagroup.comFY 2015 Analyst Presentation
Business Overview
Paid Search Advertising Industry Overview
Source: Frost & Sullivan estimates based on IAB Online Advertising Expenditure reports;
Frost & Sullivan forecasts
Paid search advertising, the segment the Mitula Group operates in, is the fastest growing online advertising format:
• Accounts for 40% of the total online advertising expenditure globally;
• Expected to grow to $74 billion in 2018
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
2012 2013 2014 2015 2016 2017 2018
$millions
Global Paid Search Advertising Expenditure - 2012 to 2018
November 2015 – Analyst Presentation

5. mitulagroup.comFY 2015 Analyst Presentation
Key Performance Indicators
Business Model
November 2015 – Analyst Presentation
1
2
3
4

6. mitulagroup.comFY 2015 Analyst Presentation
Business Overview
How Vertical Search Works
Listings from advertiser
sent to Mitula
1
User clicks on listing (“Click
Out”) and redirected to
original listing details
2
3
4
5
User makes a
search request
User reviews
search results
and clicks
AdSense or
listing
User clicks on
AdSense and
redirected to
original site
November 2015 – Analyst Presentation

7. mitulagroup.comFY 2015 Analyst Presentation
Business Overview
November 2015 – Analyst Presentation
Google AdSense Ads Direct CPC Revenue
• Advertisers’ listings Freemium model
• Premium pay ‘cost-per-click’ basis, to
receive those additional click outs.
How Vertical Search Monetise

8. mitulagroup.comFY 2015 Analyst Presentation
Business Overview
44 Operational Countries
November 2015 – Analyst Presentation

9. mitulagroup.comFY 2015 Analyst Presentation
Key Performance Indicators
Source: Internal Management Reports
Total Advertisers
September Quarter 2015 - Market Update
0
2.000
4.000
6.000
8.000
10.000
12.000
14.000
16.000
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15

10. mitulagroup.comFY 2015 Analyst Presentation
Key Performance Indicators
Source: Internal Management Reports
Total Listings (m)
September Quarter 2015 - Market Update
100,0
120,0
140,0
160,0
180,0
200,0
220,0
240,0
260,0
280,0

11. mitulagroup.comFY 2015 Analyst Presentation
Key Performance Indicators
Source: Internal Management Reports
Total Visits (m)
September Quarter 2015 - Market Update
0,0
10,0
20,0
30,0
40,0
50,0
60,0

12. mitulagroup.comFY 2015 Analyst Presentation
Key Performance Indicators
Source: Internal Management Reports
Total Click Outs (m)
September Quarter 2015 - Market Update
0,0
10,0
20,0
30,0
40,0
50,0
60,0
70,0
80,0
90,0

13. mitulagroup.comFY 2015 Analyst Presentation
Financials
Pro Forma Results
Pro Forma Historical Results Pro Forma Forecast Results
(A$000s) CY12 CY13 CY14 CY15 12 mnth June-16
Revenue 8,12 10,568 16,209 22,705 26,168
EBITDA 990 2,647 6,264 10,422 13,315
EBIT 877 2,482 6,085 10,209 13,09
NPAT 638 1,818 4,608 7,751 10,104

14. mitulagroup.comFY 2015 Analyst Presentation
Financials
Source: Internal Management Reports. Prepared on a pro forma basis.
0,0
1,0
2,0
3,0
4,0
5,0
6,0
7,0
Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15
Millions
Direct CPC AdSense
Strong Quarterly Revenue Growth (AUD)
43% Year on Year
Growth
6.0 m4.2 m
September Quarter 2015 - Market Update - Summary

15. mitulagroup.comFY 2015 Analyst Presentation
Financials
Mitula Group Ltd. IPO
IPO: July 1st 2015
• A$0.75 per share
• Market Cap A$153.7 (m)
Share price A$1.02
Market Cap A$209.1 (m)

16. mitulagroup.comFY 2015 Analyst Presentation
Financials
Our Competitors
September Quarter 2015 - Market Update - Summary
We had two main competitors:
- Trovit; sold to NEXT (Japanese Real Estate Portal)
for 80 (m) €
- Nestoria; Adquired by Mitula Group last May, taken
market share.

18. 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
22 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
September 2015 December 2014
September 2014October 2014
May 2014 February 2013
May 2012 April 2011
Sale of a 70% stake in
to
Exclusive Financial Advisor to
Drushim 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
for $228m to a joint venture between
Exclusive Financial Advisor to Yad2
and its Shareholders
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
Additional $150 million senior debt financing
Total $300 million investment
Financial Advisor to Fotolia and its Shareholders
have acquired a majority stake in
for $350m from
Exclusive Advisor to Summit Partners and TA Associates
Selected Completed
NOAH Transactions
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET CORPORATE FINANCE BOUTIQUE
®