CORPORATE PRESENTATION · 3 | Corporate Presentation Disclaimer These materials may contain forward-looking statements based on current assumptions and forecasts made by ad pepper

CORPORATE PRESENTATIONad pepper media International N.V.

July 2020

3 | Corporate Presentation

Disclaimer

These materials may contain forward-looking statements based on current assumptions and forecasts made by ad pepper media International N.V.’s

management and other information currently available to the ad pepper media International N.V.’s or any of its affiliates (the “Group). By their nature,

forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results, performance or events to differ

materially from those expressed or implied by the forward-looking statements. Statements contained in these materials regarding past trends or

events should not be taken as a representation that such trends or events will continue in the future. Neither ad pepper media International N.V. nor

any other party is under any duty to update or inform you of any changes, whether as a result of new information, future events or otherwise, to the

information in these materials.

Certain market data and financial and other figures (including percentages) in these materials were rounded in accordance with commercial

principles. Figures rounded may not in all cases add up to the stated totals or the statements made in the underlying sources. For the calculation of

percentages used in the text, the actual figures, rather than the commercially rounded figures, were used. Accordingly, in some cases, the

percentages provided in the text may deviate from percentages based on rounded figures. The financial information relating to the Group contained

in this document has not been audited or reviewed.

No reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or

warranty, expressed or implied, is given by or on behalf of the Group, directors, officers or employees, advisors or any other person as to the

accuracy or completeness of the information or opinions contained in this document, and no liability whatsoever is accepted for any such information

or opinions or any use which may be made of them. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any

securities.


Q2 Highlights

• COVID-19 impact since early March; Q2 first full quarter in “post COVID-era”

• People are safe and mostly working from home

• ad pepper media continues to lead the industry in growth and margin

• Revenue: ad agents (+13%) and Webgains (+27%) while latter could

benefit overproportionally from “stay-at-home-economy”

• Business well diversified with low exposure to travel/hospitality/leisure

• Strong liquidity and balance sheet


Impressive Growth with Revenue Levels

Exceeding Q4/2019

5.048

5.743

5.031

5.966 5.8416.116

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020Group Revenue in kEUR

Q4 typically strongest

quarter of a year (xmas,

blackfriday, etc.)


All Segments on Q4/2019 Level or Higher

1.678 1.612

Q4 2019 Q2 2020

in kEUR

1.356 1.337

Q4 2019 Q2 2020

2.932

3.167

Q4 2019 Q2 2020


539

1.747

2.209

1.3541.592

2.804

4.500

2015 2016 2017 2018 H1 2019 2019 H1 2020 2020e

EBITDA 2015 – 2020 YTD

EBITDA in H1 2020 is up 76 percent vs. previous year

Q2: 1.684

in kEUR

Q2: 883

3.512


Digital Ad Spending Worldwide | 2018-2023

283,4333,3

385,0435,8

479,2517,5

45,9%50,1%

53,6%

56,6%58,8%

60,5%

2018 2019 2020E 2021E 2022E 2023E

Digital ad spending % of total media ad spending

Source: eMarketer in USD billion

CAGR: 12,8%


Marketing Technology Landscape ("Martech 7000")


SEA & SEO

Affiliate Amazon

Competitive Landscape


THIRD PARTY

BRANDING

CREATIVE

SOCIAL

Positioning ad pepper Groups Segments

Agency Model

SPECIALIZED FULL SERVICE

Pricing Model

CONSULTANCY/RETAINER SUCCESS BASED

Technology

MIX PROPRIETORY

eCommerce Platform

SEARCH AFFILIATE


ad agents - What They Do

Search Marketing

(SEA & SEO)

Marketplace Services

& Retail Media

Affiliate

Management

Social Media &

Display AdvertisingData &

AnalyticsConsulting


New Customers 2019/20


Impressive Growth with Revenue almost on Q4 Levels

1.271

1.427

1.5731.678

1.5391.612

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020

in kEUR

+13%


ad pepper - What They Do

Lead

Generation

Performance

Display MarketingContent

Marketing

Social Media

AdvertisingData &

AnalyticsConsulting Audience

Targeting


Most wanted Online Marketing Services for SMEs:

Performance Display Advertising

Search Engine Advertising

Newsletter Marketing

Content Targeting

Search Engine Optimization

Lead Generation

Social Media Marketing

Display Advertising

Search Engine Marketing




ad pepper Segment Revenue in-line with Q4

(but lower than Q2 19)

in kEUR

644

534

828

528

1.040

504

918

419

534 643572 528 504 419

644

1.182

574 828

1.040 918

1.178

1.825

1.146

1.356

1.544

1.337

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020

-27%

QoQ growth was -27%, however, previous year was positively impacted by a single big campaign (around 600k)


One of the leading international affiliate networks

15 years experience in affiliate marketing

Part of the Group since 2006

Fact Sheet: Webgains

Headquarter London

Offices Paris, Madrid, Bristol, Munich, Milano and

Nuremberg0

Present with Platforms all over the

world

1,800 advertisers

250,000 publishers

100,000,000 transactions

€ 977,575,616 Gross Sales Value



200+ new clients have joined Webgains in H1 2020


Highest Quarterly Revenue Level in Segments` History

644

8281.040 918

1.501 1.604 1.507

1.982 1.841

2.234

2.599 2.491 2.312

2.932 2.758

3.167

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020

in kEUR

UK was the fastest growing region (+39%) representing around 70% of segment`s overall revenue

+27%

+39%

KEY FIGURES


Key Figures H1 2020 | Group

EBITDA

1.5922.804

H1 2019 H1 2020

Gross Sales

(non-IFRS)

H1 2019 H1 2020

Revenue

(IFRS)

H1 2019 H1 2020

Gross Profit

H1 2019 H1 2020

OPEX

H1 2019 H1 2020

+0%

45.007

in kEUR

40.823

11.95710.790

11.56910.433 9.3109.325


Webgains`Q2 EBITDA almost Doubled vs. Q4 2019

in kEUR

74 158 262 317118 191

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020

417 388200

855603

1.565

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020

530

859

384266

704503

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020


Headcount June 2020 | Segment

Admin

2630

06 2019 06 2020

7881

06 2019 06 2020

91 92

06 2019 06 2020

14 15

06 2019 06 2020


Group Revenue | Sector Split

H1 2019 H1 2020

24%

16%

11%5%6%

6%

6%

5%

5%

5%

4%

4% 3%

29%

13%

10%8%

8%

7%

5%

5%

4%4%

2%2%

3% Retail & Shopping

Fashion

Social Platforms

Entertainment

Home / Garden / DIY

Automobile

Health & Beauty

Mobile / Telco

Financial Services

Electronics / Technology

Utilities / Real Estate

Travel

Other

Low exposure to Travel clients (H1 2019: 4%; H1 2020: 2%)

Retail/Shopping & Entertainment with the biggest gains

10.790 11.957


44%

2%4%3%

47%

EMA B.V.

Treasury stock

Dieter Koppitz

Euro Serve Media GmbH

Free float

The Share

• Total number of shares:

21,500,000 (nominal value EUR 0.05), after

cancellation of 1,500,000 shares

• Last share repurchase programs:

February - July 2016 •

• Liquid funds:

EUR 22,139k (30.06.2020), debt-free

• ISIN:

NL0000238145

Shareholder Structure Share Information

OUTLOOK


Outlook 2020

“Based on the strong business development,

the management of ad pepper media International N.V.

expects group revenue for the 2020 financial year

to amount to approx. EUR 24.0 million with EBITDA

of approx. EUR 4.5 million.”

2019 2020

21.8

24.0

3.54.5

in million EUR

EBITDAEBITDA

GROUP

REVENUEGROUP

REVENUE

20202019

Documents

CORPORATE PRESENTATION · 3 | Corporate Presentation Disclaimer These materials may contain forward-looking statements based on current assumptions and forecasts made by ad pepper