New Work SE

Earnings Release • Feb 26, 2019

Disclaimer

This presentation was produced in February ²⁰¹⁹ by XING SE (the "Company") solely for use as an information source for potential business partners and is strictly confidential. It has been made available to you solely for your own information and may not be copied, distributed or otherwise made available to any other person by any recipient. This presentation is not an offer for sale of securities in the United States. The distribution of this presentation to you does not constitute an offer or invitation to subscribe for, or purchase, any shares of the XING SE and neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever.

The facts and information contained herein are as up-to-date as is reasonably possible and are subject to revision in the future. Neither the Company nor any of its subsidiaries, any directors, officers, employees, advisors nor any other person makes any representation or warranty, express or implied as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this presentation. Neither the Company nor any of its subsidiaries, any directors, officers, employees, advisors or any other person shall have any liability whatsoever for any loss arising, directly or indirectly, from any use of this presentation. The same applies to information contained in other material made available at the presentation.

While all reasonable care has been taken to ensure the facts stated herein are accurate and that the opinions contained herein are fair and reasonable, this document is selective in nature and is intended to provide an introduction to, and overview of, the business of the Company. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate.

This presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. These statements are generally identified by words such as "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information from third party sources, contained in this presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the assumptions underlying such forward-looking statements are free from errors nor do they accept any responsibility for the future accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements.

This presentation speaks as of December 2018. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date.

IMPORTANT NOTICE

Pro-forma results

Results contained in this presentation are partly based on unaudited pro-forma financial results that the Company derived from its preliminary and past financial statements for the indicated periods in order to make these periods comparable and show non-recurring costs.

Cautionary note regarding preliminary results and pro-forma financial results

This presentation contains preliminary results and pro-forma results. The preliminary results may change during their final review. While the Company believes that its pro-forma financial results are reflective of its recurrent trends and the on-going status of its business, there can be no assurance that its pro-forma results will accurately reflect these trends and status and therefore, its investors are urged not to rely solely upon the pro-forma results when making their investing decision and the pro-forma results should always be reviewed together with its actual financial results.

XING SE – Another successful year

All major financial KPIs growing strongly

• •Revenue +25% (+21% excl. M&A effects)
• •EBITDA + 23%
• •Cash-flow before dividends & M&A +51%

All major non financial KPIs growing strongly

• •Member growth at www.xing.com + 14% & www.internations.org + 16%
• •B2B E-Recruiting subscription customer growth + 40%

XING SE to become New Work SE

• •Putting us at the vanguard of one of the megatrends for the coming years
• •'New Work' perfectly dovetails structural megatrends with our user's & customer's needs

Revenues, EBITDA & Cash-flow growing strongly

Organic topline growth excluding one time positive effects from M&A (InterNations & Prescreen) amounts to 21% in 2018 ** Retroactive adjustment according to IFRS 15/16

Member & payer development: +1.9m

3.3m

2018: 31k net payer adds @ XING & 11k @ InterNations

Rounding differences are possible*Change in reporting method in connection with change of payment provider leads to ~10k payer base step increase as of Jan 1, 2017. Adjusted growth would be 56k

6

More than 3k (+40% yoy) net new B2B E-Recruiting subscription customers

Overall Megatrends & dimensions that make work "new"

SOURCE: McKinsey

XING has continuously enhanced its value proposition to embrace new work and will be renamedinto New Work SE in 2019

FY 2018Financials

2018 – Yet another successful year for XING

Ongoing strong member growth w/ 1.9m net addsStrong top-line growth w/ 25% yoy (organic: 21%) EBITDA slightly above outlook w/ € 75.2mOperating cash-flow increased to € 73.8mDividend proposal of € 2.14 per share (2017: € 1.68) & special dividend of €3.56

FY 2018: Revenues € 235.1m EBITDA € 75.2m

In €m	2 0 8 1	2 0 1 7	2 0 8 v 2 0 1 1 7 s.	2 0 8 v 2 0 1 1 7 s.
	bs A	bs A	bs A	l. Re
l r * To ta ev en ue	2 3 5. 1	1 8 8. 5	4 6. 6	% 2 5
Co ts s	( ) 1 5 9. 8	( ) 1 2 7. 2	( ) 3 2. 7	( ) % 2 6
E B I T D A	2 7 5.	6 1. 3	3. 9 1	2 3 %
( ) in l. D & A P P A c	( ) 2 9. 0	( ) 2 0. 8	( ) 8. 3	( ) % 4 0
in ia l r l F t an c es u	( ) ( ) ** 0. 1 0 1.	*** ( ) 1. 6 0. 7	( ) 1. 7	/ N A
in Ku U S J t v tu nu nu o en re	( ) 1. 2	( ) 3. 6	2. 4	% 6 8
Ta xe s	( ) 1 4. 0	( ) 1 2. 9	( ) 1. 0	( ) % 8
in d Re Ne t t p or e c o m e	3 1. 0	2 5. 7	5. 3	% 2 1
j in d d A Ne t t s e c o m e u	3 0. 1	2 3. 3	6. 8	% 2 9
in d ha Re Ea te g p or rn s p er s re	5. 5 1	4. 5 6	0. 9 5	% 2 1
j in d d ha A Ea te g us rn s p er s re	5. 3 5	4. 1 4	1. 2 0	% 2 9

* Including other operating income

Financial result w/ one time positive effect from release of E/O accruals of € 0.9m; adjusted financial result would be (€ 1.0m) (1.0)

Financial result w/ one time positive effect from release of E/O accruals of € 2.3m; adjusted financial result would be (€ 0.7m) 2017 values adjusted retroactively according to IFRS 15/16(0.7)

FY 2018: B2B E-Recruiting contributing strongly with 65% EBITDA margin

In €m	Se E B I T D A t g m en	in Ma g r
B 2 C	€ 3 9. 0 m	3 9 %
i in B 2 B E- Re t g cr u	€ 0m 7 1.	6 % 5
ke in lu io B 2 B Ma t So t & Ev ts g r ns en	€ 7. 0m	% 3 2
l. Ku In t nu nu	€ 0. 2m	1 0 %
ice h, l he Te Ce Se & O tra t c n rv s r	( ) € 4 2. 0m	/ N A
l To E B I T D A ta	€ 7 5. 2m	% 3 2

FY 2018: All segments growing double digit

2017 values adjusted retroactively according to IFRS 15/16

FY 2018: Operating cash-flow of € 73.8

In €m	2 0 8 1	2 0 1 7	2 0 8 v 2 0 1 1 7 s.	2 0 8 2 0 1 1 7 vs
	bs A	bs A	bs A	l. Re
E B I T D A	7 5. 2	6 1. 3	1 3. 9	% 2 3
/ / / ls In E S O P Ea te t ta t res rn -o ac cr ua x u	( ) 0. 2 1	( ) 9. 1	( ) 1. 1	( ) 2 % 1
ha in k ing i l C t w ta ng e ne or ca p	8. 7	1 4. 2	( ) 5. 5	( ) % 3 9
in is i io h ha fro ha ba f c l da No t ng ng n- ca s c es m c es s o on so n	0. 0	( ) 4. 1	4. 1	/ N A
ing ize h f low l. o h Op t rg er a ca s ex c an r c as	7 3. 8	6 2. 3	1 1. 5	% 1 8
ing Inv tm t – t es en op er a	( ) 3 2. 7	( ) 3 3. 4	0. 7	% 2
is i io in & Inv tm t – t J t Ve tu es en ac q u ns o n re	( ) 6. 9	( ) 2 9. 5	2 2. 6	( ) % 7 7
isp ina ia l o f f l a Inv & D tm t ts es en os a nc ss e	0. 0	( ) 2 9. 9	2 9. 9	/ N A
i d ha d i f fe lea l ia b i l i ies In & & te t p te t res a ex c ng e ra re nc es se	( ) 3. 0	( ) 3. 9	0. 8	% 2 1
/ le ha f o ha Sa p ur c se o wn s res	( ) 0. 2	0. 0	0. 2	/ N A
iv i ize h- f low l. d de ds h Ca & g s ex c n or an r c as	3 0. 9	( ) 3 4. 4	6 4 5.	/ N A
iv i lar d de d Re g u n	( ) 9. 4	( ) 7. 7	( ) 1. 7	( ) % 2 2
ia iv i l d de d Sp ec n	0. 0	( ) 9. 0	9. 0	/ N A
ize h- f low l. o h Ca rg s ex c an r c as	2 1. 5	( ) 5 1. 1	7 2. 6	/ N A
ize f fe h E ts g c or an r c as	( ) 0. 2	0 1.	( ) 2 1.	/ N A
inc ize h- f low l. o h Ca rg s an r c as	2 1. 3	( ) 5 0. 1	7 1. 4	/ N A

2017 values adjusted retroactively according to IFRS 15/16

Q4 2018Financials

Q4 2018: Revenues € 65.1, EBITDA € 21.9m

In €m	/ Q 4 2 0 8 1	/ Q 3 2 0 8 1	/ Q 4 2 0 8 1 vs / Q 3 2 0 8 1	/ Q 4 2 0 1 7	/ Q 4 2 0 8 1 / Q 4 2 0 1 7 vs
	b A s.	bs A	l. Re	bs A	l. Re
l r To 1 ta ev en ue	6 5. 1	5 9. 5	% 9	5 3. 6	% 2 1
Co ts s	( ) 4 3. 2	( ) 3 9. 6	( ) % 9	( ) 3 8. 0	( ) % 1 4
E B I T D A	2 1. 9	1 9. 9	% 1 0	1 5. 6	% 4 0
in Ma g r	3 4	3 3	% 1 t p	% 2 9	% 5 ts p
( ) in l. D & A P P A c	( ) 1 2. 7	( ) 6. 3	( ) % 1 0 2	( ) 8. 9	( ) % 4 3
in ia l r l F 2 t an c es u	( ) ( ) 0. 2 0. 2	( ) 0. 2	( ) % 5	( ) 0. 4 1. 3	/ N A
in Ku J t Ve tu nu nu o n re	( ) 0. 2	0. 0	/ N A	( ) 0. 7	% 6 7
Ta xe s	( ) 2. 2	( ) 4. 2	% 4 8	( ) 2. 6	% 1 3
in d Re t Ne t p or e c o m e	6. 5	9. 1	( ) 2 9 %	4. 8	3 4 %
j in d d A t Ne t u s e c o m e	6. 6	9. 1	( ) % 2 8	3. 1	% 1 1 1
in d ha Re Ea te g p or rn s p er s re	1. 1 6	1. 6 2	( ) % 2 9	0. 8 6	% 3 4
j in d d ha A Ea te g us rn s p er s re	1. 1 7	1. 6 2	( ) % 2 8	0. 5 5	% 1 1 1

Including other operating income

Financial result Q4 2018 w/ one time positive effect from release of E/O accruals of €(0.1m); adjusted financial result would be (0.2m)(0.2)

Rounding differences are possible 2017 values adjusted retroactively according to IFRS 15/16

Financial result Q4 2017 w/ one time positive effect from release of E/O accruals of €1.7m; adjusted financial result would be (0.4m)(0.4)

Q4 2018: All segments growing

Q4 2018: Cost development

Personnel

in € m in % of total revenue -

Marketingin € m in % of total revenue -

Other expensesOther expenses

in € m in % of total revenue -

• External services, legal, audit & consulting
• Payment processing, server hosting
• Rent & other costs

+252FTE's

• Investment in product/tech org & sales/marketing

• Incl. non operating costs

• Online display & social media

• SEM
• Offline expenditures (Conferences & events, print)
• Affiliate

Rounding differences are possible

2017 values adjusted retroactively according to IFRS 15/16

Q4 2018: Operating cash-flow of € 14.6m

	Q 4 2 0 1 8	Q 4 2 0 1 7	Q 4 2 0 1 8 Q 4 2 0 1 7 vs	Q 3 2 0 1 8	Q 4 2 0 1 8 Q 3 2 0 1 8 vs
	bs A	bs A	bs A	bs A	bs A
E B I T D A	2 1. 9	1 5. 6	% 4 0	1 9. 9	% 1 0
/ / he In te t ta t re s x o r	( ) 1. 9	( ) 3. 1	% 4 0	( ) 3. 2	% 4 2
in in i ha k l C t w ta g g n e n e or ca p	( ) 4 5.	( ) 9 1.	( ) % 1 7 7	0. 6	( ) % 9 8 1
h ha fro ha No g g n- ca s c n es m c n es in is i io ba f c l da t s o on so n	0. 0	0. 0	( ) 0 0 % 1	0. 0	0 %
in is h f l l. h O t g g p er a c a s ow ex c or a n er c a s	1 4. 6	0. 1 5	3 9 %	3 1 7.	( ) % 1 5
in Inv tm t – t g es en op er a	( ) 7. 1	( ) 1 0. 2	% 3 0	( ) 7. 5	% 5
is i io j in Inv & tm t – t t v tu es en ac q ns o en re u	( ) 1. 0	( ) 0. 1	( ) % 8 9 7	0. 0	/ N A
in ia f l a Inv tm t – ts es en an c ss e	0. 0	0. 0	% 0	0. 0	% 0
i d, d i f f. lea l ia b i l i ies & In te ts F X te t re s p a ra se	( ) 0. 8	( ) 1. 1	2 3 %	( ) 0. 7	( ) 2 % 1
/ le ha f o ha Sa Pu rc se o wn s re s	0. 0	0. 0	% 0	0. 1	( ) % 1 0 0
iv i is h- f l l. d d d h C & g a s ow ex c e n s or a n er c a s	5. 6	( ) 0. 9	/ N A	9. 1	( ) % 3 8
ise f fe h E ts g c o r an r c as	( ) 2. 4	( ) 2. 2	( ) % 1 1	1. 2	/ N A
in is h- f l l. h C g a s ow c or a n er c a s	3. 2	( ) 3. 1	/ N A	1 0. 3	( ) 6 9 %

2017 values adjusted retroactively according to IFRS 15/16

Proposal for regular dividend of €2.14 per share & special dividend of €3.56 per share

	2 0 1 8	2 0 1 7
/ j i d d E O t t a s e n e n c o m e u	€ 3 0. 1	€ 2 3. 3 m	2 9 % +
( ) i h h d S # t g a r e s e e w	5. 6 m	5. 6 m	% 0
/ j i d d h E O t g a u s e e a r n n s p e r s a r e	€ 5. 3 5	€ 4. 1 4	% 2 9 +
i i l d d d h R g e u a r v e n p e r s a r e	€ 2. 1 4	€ 1. 6 8	% 2 7 +
i i i l d d d h S p e c a v e n p e r s a r e	€ 3. 5 6	/ N A	/ N A

No restriction for future growth given cashrestriction given cash-generative business model generative business model

2017 values adjusted retroactively according to IFRS 15/16

Thank you for your attention.

www.xing.com

Negative invested capital from shareholders' perspective

Consensus, investorinformation & contact details

Investor Relationscontact details & social media channels

PATRICK MOELLERDirector Investor Relations

XING SEDammtorstrasse ³⁰ 20354 HamburgGermany

Tel.: +49 (0)40 419 131-793Fax: +49 (0)40 419 131-44 (Please use this number to submit "WpHG notifications")

Email: patrick.moeller@XING.com

/ / / i i h X I N G_ t t t t t p w e r. c o m r :
/ / / h b G t t t X I N p o e. c o m c o m w w w y u u :
/ / h b l G. t t X I N g. p o c o m :
i k k l l d d ? t s y p e p a r c m o e e r a :