Scout24 AG

Investor Presentation • Jan 20, 2020

Make it happen! GCC 2020 Frankfurt

20./21.01.2020

Disclaimer

This document has been issued by Scout24 AG (the "Company" and, together with its direct and indirect subsidiaries, the "Group") and does not constitute or form part of and should not be construed as any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision, nor does it constitute a recommendation regarding the securities of the Company or any present or future member of the Group.

All information contained herein has been carefully prepared. However, no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees 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 by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith.

The information contained in this presentation is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company's or, as appropriate, senior management's current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this presentation (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.

This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither this document nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person.

By attending, reviewing or consulting the presentation to which this document relates or by accepting this document you will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice.

Nothing in this document constitutes tax advice. Persons should seek tax advice from their own consultants or advisors when making investment decisions.

Quarterly figures are unaudited. All numbers regarding the 2019 segment structure are unaudited and preliminary only, if not otherwise stated.

ImmoScout24 is more relevant than ever and well positioned to capitalize on market dynamics and to increase monetization and TAM

ImmoScout24 is #1 in Germany with an increasing listings market share

Deep repository of consumer, listing and transactional data over 20 years

Track record of sector leading innovation and bringing new products to market

Further expanding ARPA through valuebased sales performance

Trusted player in the ecosystem with leading consumer awareness and significant brand equity

… achieved across our ecosystem¹

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We have delivered uninterrupted and resilient growth since our inception

Source: GEWOS (2019)

Notes: 1. Revenues adjusted for IFRS 15, applied as of 1 January 2018 and retrospectively adjusted for 2017; including ImmoScout24 Consumer Services and investments/divestments

As consumers' and customers' needs get more complex, marketplaces need to evolve …

traffic

triggering demand

Consumer

• needs a trusted partner
• predict demand
• deliver individualized results
• multi-choice & best-choice

Platform

• highly localized
• beyond listings
• actively triggering demand
• real time
• a more transparent marketplace
• more involved in the action

leads listings + money

smooth transaction experience

differentiate vs. competition

help winning mandates

Agents

Core remains robust – evolving market presents huge new opportunity

… giving us the opportunity to expand beyond our attractive core market

Source of mandates for agents – not just leads	Moving into the transaction	Mortgage business providing additional opportunity
c.€0.7bn	c.€6bn+	c.€184bn	c.€240bn
Marketing spend ~60% Objects marketing ~40% Mandate acquisition	Agent commission pool	Real estate transaction value	Total mortgage market
		TAM expansion levers

We are building the ecosystem for real estate in Germany

• ✓ Acquire new mandates and lead management (digital farming)
• ✓ Use most efficient marketing channel
• ✓ Build up local brand
• ✓ Benefit from an integrated ecosystem out of one hand

Indicative digitization levels

Consumers

• ✓ Benefit from a personalised home search journey
• ✓ Get the most transparent consumer experience
• ✓ Receive guidance in decision making

We are the place where sellers start their journey …

Home seller addressable audience 220k ¹

Immobilienatlas 1 2 3 4 Stefanie joins HomesellerHub and enters her personal data

Alerts from HomesellerHub on the value of your property

Stefanie, for your apartment's size and neighbourhood, there are only a few agents worth considering!

Realtor Lead Engine: ImmoScout24 sells the lead to relevant agents

Home seller enquiries

YoY growth²

Malleriring glassic	Malletorsport	EUROPER PARTY Callery Friday.	Makhonoglern Passende Makler
In waicher Region befindet sich die Immobilie?	Wie groß sind Wohn- und Grundstöcksfläche?	Weiche Ausstationg hat die immobilie?	melden sich in Kürze to Bld in column high with
M PLJ Gar-In-Institute	MOWERS	D Anie Income 1.0496	75.000 € - 225.000 €
		Intend-Cargo C1 Boller
	1 2	1	1

to agents¹

The agent sells her apartment at a price above her minimum threshold

Notes: 1. As of Nov 19 YTD 2. Q3'19 vs. Q3'18

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… and are therefore acting as the digital farming partner for our agents

Notes: 1. As of Nov 19 YTD 2. Q3'19 vs. Q3'18

We also have a clear path to digitize the rental ecosystem

ImmoScout24 is set to continue to deliver along the financial guidelines provided at the Capital Markets Day

Guidance for the ImmoScout24 segment Central functions not included

	2019	2020	2021	2022
Revenue growth	9.0 to 11.0% l-f-l (low end)	6.0 to 8.0%	low teens	low to mid teens
Ordinary operating EBITDA margin	Up to 70.0%	Up to 65.0%	Up to 66.0%	Up to 67.0%
	old segment structure

We sold AutoScout24 for €2.9bn Transaction Update

Agreement

On 17 December 2019, Scout24 entered into a definitive agreement with affiliates of Hellman & Friedman LLC for the sale of 100% of Scout24's car classifieds platform AutoScout24, FinanceScout and Finanzcheck.

Sale Process

The decision to sell is the outcome of a structured and diligent strategic review process initiated in August 2019 with a comprehensive assessment of several options including combination, partial / full sale, spin, and retain scenarios.

The sale process involved targeted buyer outreach and a complex and competitive carve-out process.

Going forward

Scout24 will now fully focus on ImmoScout24 and execute the strategy laid out during the CMD

The transaction values AutoScout24 at approx. €2.9bn, equivalent to a LTM Sep-19 EBITDA multiple of

26.1x

64%

Total shareholder return from December 2018 (unaffected share price date excl. bid specs) until transaction

Currently evaluating options around method and timing of capital return to shareholders

Quantum and structural decisions have not been made yet

Several legal, procedural, accounting, tax, market issues need to be cleared

Our new scope of business comes with an even more attractive return for our shareholders

Profitable growth

• The #1 platform in German real estate classifieds
• Transition to fully networked marketplace
  • − Increase TAM
  • − Improve monetization
  • − Accelerate product rollout

Operational excellence

• Simple, lean, agile structure and processes
• "Growth Simply Done" (GSD) program to further optimize efficiency

Value accretive capital allocation

• Reinvest into growth
• Returning cash to shareholders
  • − Dividend pay-out ratio of 30-50%
  • − Share buy-back programme
• Long term leverage of up to 3.5x
• Open to value accretive M&A opportunities

Sustainable competitive advantage

Attractive total shareholder return

Make it happen! #Scout24IR

Ursula Querette Head of Investor Relations

Telephone +49 89 444 56 3278 Fax +49 89 444 56 193278 ir@scout24.com www.scout24.com

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