Exasol AG — Investor Presentation 2021

Nov 24, 2021

Deutsche Börse Eigenkapitalforum

Presentation for investors

Jan-Dirk Henrich (CFO/COO)

Nov 24, 2021

Copyright © 2021 Exasol. All rights reserved.

EXASOL VISION

VISION

Be the analytics platform trusted by the world's most ambitious organizations

> 90% subscription based revenue

Best-in-class technology in terms of raw performance

200+ customers

28m EUR ARR (end Q3 '21)

Topics for today

• 1. Strategy and positioning
• 1. Performance 2021, initiated changes and outlook
• 1. Investor Relations 2022

Strategy & positioning

Our core product and advantages vs competition

Raw Speed/Performance Total Cost of Ownership Platform flexibility Ease-of-use in operation USPs

Our credentials

• Leader for vendor credibility and customer experience

• Best in class across a range of measures

• Increased number of top-rankings from 18 to 26 categories vs peer group "Analytical DB Products" and "DWH" Technologies"

• Best-in-class in 5 categories (vs 4 previously)

Dresner positioning of Exasol against competition

• Re-included in Gartner magic quadrant *Converted from the original currency

• Moved from Contender to Strong Performer in the latest Forrester Wave™: Cloud Data Warehouse, Q1 2021

100% customer recommendation rate

> 120% gross revenue retention

4% customers churn / 3% revenue churn

Our ability to win and upsell customers

	New customers in H2 2021 (examples)	+ Strong upsell performance of existing customers (examples)
	Multinational banking Corp., UK 15bn USD rev./a
Financial services	Multinational insurance Corp., DACH 10bn EUR rev./a
	Multinational re-insurance Corp., DACH 24bn EUR rev./a
Transport & Logistics	Municipal transport authority, DACH 700m EUR rev./a, 1bn passenger rides/a	60 customers (> 30% of total)
Energy	B2B energy retailer, Nordics > 40k customers	increased their business with Exasol in the past 12 months

60

2021 2025 est.

Our addressable market In EUR billion, in CAGR

7 24 34% p.a. 21 30% p.a. 6 17 28% p.a. Analytics & AI Data integration & orchestration Data Management

Source: McKinsey & Company

2021 2025 est.

2021 2025 est.

Performance 2021, initiated changes and outlook

ARR development in 2021 & revised guidance In EUR million

24.1 25.3 28.2 > 35 100 26.5 > +45% 100 26.5 24.1 25.3 28.2 Q2 2021 In 2024 In 2025 30-31 Q4 2020 Q1 2021 Q3 2021 Q4 2021 +24-29% Previous guidance Updated guidance

Comments

• New logo acquisition not yet with desired momentum, particularly in US/UK
• Several larger new client or upsell projects delayed into 2022
• Lower momentum coming out of 2021 expected to delay 100m EUR ARR growth to 2025
• Guidance for 2022 to be provided in February with unaudited FY2021 results

Learnings, initiated changes & strategic strengths

		Learnings	Changes made and initiated	Enduring strategic strengths
1	Organization	GTM org missing end-to-end experienced ownership Remote work inadequate for core team-building and cross functional ramp-up	Executive leadership extended with end-to end sales & marketing leadership under new CCO for clear emphasis on GTM execution Product development moved back under CTO for closer integration with R&D	• Recognized global leader for database performance, based on intelligent in-memory technology • Best-in-class TCO for enterprise
2	Go-to market focus	Value proposition and GTM activities insufficiently targeted at verticals, customers and use cases that leverage our core strengths	Product positioning sharpened to embrace Cloud first customer strategies (Bridge to the Cloud) + Very focused GTM execution leveraging unique strengths with strong partners	level production • Optimally positioned to build analytics performance bridge to and from multiple Clouds • Customer obsession with
3	Product adoption	Business model and product focused on high-impact use cases, but not aligned with evolving data strategies incl. decentralized deployment	Extend deployment capabilities and usage models (incl. consumption-based pricing & SaaS), for complete platform independence to deliver automated real-time business analytics as a service for hybrid data environments	consistent 100% recommendation ratings and 115-120% NRR rate • Growing recognition of unique value to strategic alliance partners

CCO appointed to extended leadership team 1

Donald (Don) Kaye, CCO

• CCO at Exasol AG since mid October 2021
• End-to-end responsibility for Marketing, Global Sales & Pre-Sales, Channel/Strategic Partners and Alliances, Customer Success
• Extensive experience in leading go-to-market activities in software & services in both large-scale corporations (Apple, Microsoft, Kaspersky) and emerging players (Ground Labs, Connectix)

Clear go-to-market focus 2

Product milestones 2021/2022 3

	Alpha	Preview/Beta	General Availability
SaaS Offering	Jun 21	Oct 21	Dec 21
Version 8.0	2020	2021	Q1/22
AWS Elasticity *	Mar 21	Q4 21	Q1 22
GCP Elasticity *	Q4/21	Q1/22	Q2/22
Azure Elasticity *	Q1/22	Q2/22	Q3/22
Autonomous Insights	Q1/22	Q2/22	Q3 22
	Prototype that can be shown to and tested by customers	Feature-ready version offered to selected customers	Broadly supported release for all customers

* Elasticity: Separation of compute & storage for scaling up and down easily. Running in own customer cloud-account

Our unique value proposition – today and tomorrow

			The Analytics Platform
		Democratizing Data Analytics	Versatile analytics platform to
Bridge to the Cloud Provide flexible architecture for The Analytics Database enterprise analytics and enable		Self-service data analytics for business users to create real-time	enable enterprise analytics across evolving hybrid
		data insights from distributed data sources and data lakes	environments and unify Data Science & BI for predictive business outcomes
Unlock & accelerate legacy data for enterprise & digital native use cases	seamless migration from on-prem to Cloud with consumption-based pricing and entry-point automation	direction Our
• Most powerful, scalable and tuning-free in-memory RDBMS • On-prem & cloud solution for high-impact operationalized use cases for enterprise & digital natives • Data-volume based licensing	+ Cloud elasticity and native containerized deployment + SaaS platform on AWS + Consumption-based pricing + Cloud ETL integration (Keboola)	+ Cloud elasticity and integration across all major Cloud platforms + Hybrid economics, incl. on-prem usage-based pricing & infrastructure aaS + Autonomous Business Insights for Enterprise	+ Platform-independent auto-scaling + AI/ML unification, integration and operationalization at scale + Deep GPU-integration for further acceleration + Open extension marketplace
Today	End of 2021	2022	2023+

Investor Relations 2022

IR 2022: Dedicated ownership, increased immediacy & frequency

18

Financial calendar 2022 Mid February FY2021 results update (unaudited figures) Webcast & Roadshow Q1 trading update & FY 2021 (audited) Webcast & Roadshow Early May General Assembly Physical or virtual tbd. Early July HY 2022 results update Webcast & Roadshow Mid August Q3 trading update Webcast & Roadshow Early November + 2-3 conferences tbd What's new? • Quarterly roadshows & webcasts (recorded & published) • Reduced delay between closing & results/trading updates

• Increased transparency on core KPIs & ESG

Dedicated Head of IR starting January 2022

Christoph Marx Incoming Head of Investor Relations (from January 2022)

15 years of IR experience in SDAX and TecDAX listed companies

Extensive experience with growth-driven equity stories and B2B software environments

Thank You

Copyright © 2021 Exasol. All rights reserved.

Backup - Financial Statements H1 2021

Adjusted EBITDA of (14.1) €m in H1 2021

In EUR million

Profit and loss	H1 2021	H1 2020
Revenue	13.1	10.1	2.0
thereof recurring revenue in %	92%	91%	1%pt
Other operating income	0.5	0.2	0.3
COGS	(1.7)	(1.0)	(0.7)
Operating gross profit	11.9	9.3	2.6
Margin	91%	92%	(1%pt)
Capitalized own work	1.2	0.9	0.3
OPEX	(27.7)	(25.3)	(2.4)
EBITDA	(14.6)	(15.0)	0.4
Margin	(112%)	(148%)	36%pt
Depreciation	(1.3)	(1.0)	(0.3)
Financial result	(0.1)	(0.2)	0.1
Taxes	(0.2)	(0.0)	(0.2)
Net loss	(16.2)	(16.2)	0.0

Adjustments

Adjusted EBITDA	H1 2021	H1 2020
EBITDA	(14.6)	(15.0)	0.4
+ share-based remunerations	0.5	10.1	-
+ expenses for capital measures	0.0	3.1	-
Adjusted EBITDA	(14.1)	(1.8)	(12.3)
Margin	(108%)	(18%)	(90%pt)

Adjusted Operating Cashflow of (11.5) €m in H1 2021 In EUR million

	H1 2021	H1 2020
Net loss	(16.2)	(16.2)	0.0
Operating cash flow	(20.2)	(4.8)	(14.4)
Investing cash flow	19.0	(1.2)	20.2
- thereof operational assets	(2.6)	(1.2)	(1.4)
- thereof financial assets	21.6	0.0	21.6
Financing cash flow	(0.1)	47.9	(48.0)
Net increase/decrease in cash	(1.3)	41.9	43.2

Adjusted operating cash flow	H1 2021	H1 2020
Operating cash flow	(20.2)	(4.8)	(14.4)
+ cash flow from share based remunerations	7.2	0.0
+ cash flow for expenses from capital measures	1.5	3.1
Adj. Operating cash flow	(11.5)	(1.7)	(9.8)

Adjustments

Liquid funds of 46.6m EUR and equity ratio of 52% as of June 2021

In EUR million

In €m	H1 2021	2020
Fixed assets	9.0	7.7	1.3
Current assets and prepaid expenses	52.1	74.4	(22.3)
Liquid funds	46.6	69.5	(22.9)
In % of total assets	76%	85%	(9%pt)
Equity	32.0	48.3	(16.3)
In % of total assets	52%	59%	(7%pt)
Provisions	17.8	27.2	(9.4)
Liabilities and deffered taxes	3.1	2.3	0.8
Deferred income	8.1	4.4	3.7
Total assets and liabilties	61.0	82.1	(21.1)

Backup – Current trading Q3

ARR development vs same quarter PY – By type

In EUR million, # of customers

Comments

• Strong and improving net upsell performance from existing customers
• o Gross ARR retention rate at 123% (vs. 122% in PY)
• o Net ARR retention rate at 120% (vs. 113% in PY)
• o Customer churn rate at 4% (vs. 9% in PY)
• Growth contribution from new customers lower than expected (11 ppt.)

ARR development vs same quarter PY – By geography In EUR million, # of customers

Comments

• Unbroken strong momentum in core market DACH, supported by strong and increasing NRR rates
• US and UK likewise with similarly strong upsell performance
• Lower than anticipated new customer acquisition in US and UK in terms of total number and deal-sizes

Development of liquid funds In EUR million

Focus on increased ROI moving forward

• Review and re-allocation of nonperforming investments
• Re-organization measures implemented in Q4 2021 with payback in 2021 and contribution to improved cash-burn going into 2022
• Manage towards favourable growth/invest ratio in 2022