New Work SE — Investor Presentation 2011

May 10, 2011

Q1'2011 Results Presentation

Hamburg Stefan Gross-Selbeck (CEO) & Ingo Chu (CFO) May 10, 2011

		Q1"2011	Q1"2010	yoy
Subscriptions	€m	11.13	10.07	+11%
E-Recruiting	€m	2.71	1.44	+89%
Advertising	€m	1.05	0.77	+36%
New verticals	€m	0.51	0.00	N.A.
Other*	€m	0.24	0.28	-14%
Total revenues	€m	15.65	12.60	+24%
EBITDA	€m	5.62	3.30	+70%
EBITDA-Margin	%	36	26	+10pt.
Net-result	€m	2.69	1.26	+114%

¹ Other revenue & other perating income

Strong Growth Momentum In Core Market (D-A-CH) 03

Member Adds (D-A-CH): Accelerating Growth

in 000"

Comments

• Highest number of net member adds since Q1"2009
• Total member base up 20% yoy
• Product improvements and marketing initiatives paying off
• Confirming large growth potential: D-A-CH market with significant runway for further growth

Payer Base Continues To Grow 15k net adds in Q1"11 03

XING Mobile turning to a significant traffic contributor 04

2011 further investment in future growth

Return of €20m cash to shareholders

P&L
in €m	Q1"11	Q4"10	Q1"11 vs. Q4"10	Q1"10	Q1"11 vs. Q1"10
	Abs.	Abs.		Abs.
Total revenue1	15.7	14.7	+7%	12.6	24%
Costs	(10.0)	(9.4)	(6%)	(9.3)	(8%)
EBITDA	5.6	5.2	+8%	3.3	70%
Margin	36%	36%	+0.3%pt	26%	+9.7%pt
Depreciation	(1.5)	(1.5)	0%	(1.2)	(19%)
Financial Result	0.0	0.0	+328%	0.0	70%
Taxes	(1.5)	(1.3)	(19%)	(0.8)	(80%)
Net Result	2.7	2.5	+8%	1.3	114%

(1) Of revenue

(2) Including other operating income

xxx EPS Q1: €0.51; up from €0.47 in Q4

Revenues

In €m - (Total revenue inc. other revenues)

EBITDA

In €m In % of total revenue

Q1'10 Q2'10 Q3'10 Q4'10 Q1'11

Increase in profitability driven by scaling business, growth to 05profitability of new business, turnaround International

	Q1"2010	Q1"2011	Comment
Subscription	+	+	Scale of existing business
E-recruiting	+	+	Scale of existing business
Advertising w/o company profiles	+	+	Scale of existing business
Company profiles	-	+	Growth to profitability
International	-	+	Turnaround
Events	n/a	-	Major investment field
Total EBITDA margin	26%	36%

Investment in events dilutes overall margin

Further investment fields: mobile, advertising, marketing, sales

Personnel Expenses Are Main Investment Area To Further Drive Company Growth 05

First time consolidation of Amiando impacts all cost lines

Operating cashflow excl. organizer cash €7.6m 05

	Q1'11	Q4'10	Q1'11 vs. Q4'10	Q1'10	Q1'11 vs. Q1'10
	Abs.	Abs.	Abs.	Abs.	Abs.
EBITDA	5.6	5.2	+0.4	3.3	+2.3
Interest/tax/ESOP	+0.0	-0.6	+0.6	+0.3	-0.3
Net working capital	+2.0	-0.2	+2.2	+5.6	-3.6
Operating cashflow excl. Organizer cash	+7.6	+4.4	+3.2	+9.2	-1.6
Investment – operating	-1,1	-2.3	+1.2	-1.4	+0.3
Investment – acquisitions	-5,1	0.0	-5.1	-0.7	-4.4
Financing incl. share buyback	0.0	+0.6	-0.6	0.0	0.0
Free cashflow excl. organizer cash	+1.4	+2.7	-1.3	+7.1	-5.7
Effects organizer cash	+2.5
Free cashflow incl. organizer cash – reported	+3.9

Free cashflow impacted by Amiando acquisition with -5.1m€

Return of €20m cash to our shareholders 06

POWERING RELATIONSHIPS WWW.XING.COM

Low Invested Capital From Shareholders' Perspective 06

in €m

	Q1'11
	Abs.
Assets	108.1
Operating Assets	23,3
Acquisitions / International	21,3
TAX A/R	0,6
Cash	62.9
Liabilities	108.1
Equity	64.1
Deferred Income	23.2
Liabilities	11,8
Tax Liabilities	9,0
Other	0.0

Invested Capital w/o cash	-€11,7m
Liabilities	-€11,8m
Deferred Income	-€23,2m
Operating Assets	€23,3m

Plan to return €20m of cash to shareholders

Recruitment through social networks is growing quickly* In %

Where do Companies post their jobs? Companies use Web 2.0 to search for employees General job boards Company website Print (Newspaper) Social Networks Specialised jobboards Print (Magazines) (2009:12%)

What kind of social media HR services are you going to use in the future?* In %

* Source: Social Media HR Report 2010 * Source: BITKOM

XING AG IR stats Market cap: ~€210m / ~€60m cash / No debt

Total revenues	66.1	77.7	87.6
EBITDA	20.6	25.6	30.2
Margin	31%	33%	34%
Depreciation	-5.9	-6.8	-7.0
EBIT	14.7	18.8	23.2
Margin	22%	24%	27%
Net income	10.0	13.0	17.1
EPS in €	1.97	2.51	3.2
Free cash flow	6.6	13.0	13.9

2011e	2012e	2013e	Average Trading Volume per day (XETRA)

Analyst coverage	Deutsche Bank, DZ Bank, Hauck & Aufhäuser, HSBC, Montega AG, Close Brothers
Shares	5,332,838

TecDax ranking end of April 2011
Market Cap.	33
Turnover	38

Burda Digital GmbH 29.6% Allianz Global Investors 5.1% Langfrist TGV 6.5% Ennismore 5.2% HVB 3.4% Cyrte Investments 5.0% Treasury Shares 2.1% Rest 43.1%

Free float according to Deutsche Börse: 68.3%

Investor Relations

Contact details

Patrick Möller

Director Investor Relations

XING AG Gänsemarkt 43 20354 Hamburg Germany

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

Email.: patrick.moeller@xing.com

Website: http://corporate.xing.com/english/investor-relations/

http://www.youtube.com/user/XINGcom