New Work SE — Investor Presentation 2012

Nov 8, 2012

XING Q3'2012 results presentation

November 8, 2012

Solid financial performance

Successful launch of new products & features

• XING Talentmanager (XTM)
• Promerit Co-operation (XING to be integrated in SAP HR systems)
• AdCreator (Self booking advertising tool) for Events
• File attachments (up to 100 MB) to messages (New Premium feature)

Burda intends to keep XING as a separately listed entity

'Verticals' performance

Commercial launch of "Talentmanager" (XTM) Co-operation with Promerit (SAP HR integration) Job section available on iPhone Display ads: Soft market environment Launch of "AdCreator" First use case: promote events Lower display ad performance given ongoing change of ad sales house e-Recruiting Advertising Events 3.05 3.69 1.17 1.36 0.72 0.95 Q3 2011 Q3 2012 30% 33% Revenues from "verticals" in €m & in % of total revenues 4.96 6.00 €13.2m ticket sales Founders left amiando New Management in place +21% +32% +21% +16% Yoy growth

Continuing good member growth in D-A-CH

^{215 197 208 185 233 203 196} 2010 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2 2012 Q3 2012 Q3'2012 Net member adds (D-A-CH): in thousands 4.47 5.91 +16% yoy Traffic KPIs: Visits D-A-CH Sep 2012 vs. Sep 2011: +36%* Visits mobile Sep 2012: ~30% / total traffic

Development of subscriber base

Recent improvements to Premium Membership:

• Up to 100MB attachments to messages for premium members (incl.1GB storage)
• Recruiter & Sales Membership no longer available (Since launch of XTM)

Launch of XING Talentmanager (XTM)

Ongoing shift towards "active sourcing"

German companies pursuing active sourcing

Source: Figures for Germany: ICR Recruiting Report 2012, 500+ Participants stating "Trifft immer zu" bei "Wir suchen zusätzlich zur Anzeigenschaltung (Print oder Online) proaktiv (z.B. in Xing, LinkedIn, Facebook oder mit Hilfe von Google) nach potentiellen Kandidaten";

TALENTMANAGER

"The long-term corporate recruiting solution"

Facts >100 B2B clients in beta test

• Launch Sep 27th
• Target group: Current RM-clients
• Avg. seats per client: 2

Which social media sites are best for finding top talent purposes

Source: Forsa survey among 201 HR decision makers ,September 2012

Launch of Co-operation with Promerit

Publishing job ads through SAP into XING & receive applications with XING-profile

Burda launching takeover bid on October 26th

Facts

• Burda acquired additional stake of 9.5% at price of 40.44€ per share on Oct 25th, 2012
• Due to legal obligations, Burda has to submit mandatory offer ("Pflichtangebot") to remaining shareholders. According to announcement, offer price will be 44€ per share.

Status Quo & next steps

• Offer document has to be published by Burda (within four weeks after initial announcement)
• XING to publish official statement ("Begründete Stellungnahme") in accordance with legal requirements after offer document has been published and carefully reviewed by XING
• We continue our proactive capital market communication!

Official Press Statement by Burda:

Financial summary

Continued phase of investments in future growth

Revenues of €18.3m; up 11% yoy

EBITDA of €5.5m w/ 30% margin

Q4 will be impacted by €1.5-2.0m xo, non-operating charges due to Burda takeover bid

Q3'12 P&L: €18.3m revenues, €5.5m EBITDA, 30% margin

	Q3'12	Q2'12	Q3'12 vs. Q2'12	Q3'11	Q3'12 vs. Q3'11
	Abs.	Abs.		Abs.
Total revenue1	18.3	18.2	1%	16.6	11%
Costs	(12.8)	(13.1)	(2%)	(11.2)	(14%)
EBITDA	5.5	5.1	8%	5.4	3%
Margin2	30%	28%	2 %pts	32%	(2%pts)
Depreciation	(2.1)	(2.1)	(2%)	(1.8)	(21%)
Financial result	0.1	0.1	(43%)	0.2	(70%)
Taxes	(1.3)	(1.1)	(19%)	(1.2)	(2%)
Net result	2.2	2.1	7%	2.6	(15%)
EPS in € (undiluted)	0.40	0.38	5%	0.48	(17%)

(1) Including other operating income

(2) Of revenue

Continued growth of vertical revenues

Expenses overview

Personnel in €m in % of total revenue Q3'11 Q2'12 Q3'12 36% 41% 30% 42% 5.9 7.5 7.7

• Fewer investments vs. previous quarters
• 8 new FTEs in Q3
• 100 new FTE's yoy
• Some severance payments

Marketing in €m

in % of total revenue

• Online display & social media adv.
• Search engine marketing (SEM)
• Offline marketing expenditure (conferences & events, print, sponsoring)
• Affiliate marketing

Other expenses

in €m in % of total revenue

• External services, legal, audit & consulting
• Payment processing, server hosting
• Rent & other costs
• Search Engine Optimization (SEO)

Quarterly free cashflow €3.3m

	Q3'12	Q2'12	Q3'12 vs. Q2'12	Q3'11	Q3'12 vs. Q3'11
	Abs.	Abs.	Abs.	Abs.	Abs.
EBITDA	5.5	5.1	8%	5.4	3%
Interest/tax/ESOP	(0.9)	(0.8)	6%	0.1	-
Net working capital	0.1	(0.4)	-	(0.8)	-
Operating cashflow excl. organizer cash	4.7	3.9	22%	4.7	1%
Investment – operating	(1.6)	(2.3)	32%	(1.8)	25%
Investment – acquisitions	0.0	0.0	-	(0.3)	-
Financing incl. transaction of own shares	0.1	1.7	(94%)	0.7	(79%)
Dividend / Special distribution	0.0	(3.0)	-	3.4	-
Free cashflow excl. organizer cash	3.3	0.3	944%	3.4	(1%)
Effects organizer cash	1.8	(0.3)	-	2.4	(25%)
Free cashflow incl. organizer cash	5.2	(0.0)	-	5.8	(10%)

Thank you for your kind attention!

The professional network www.xing.com

Backup

XING AG IR stats Market cap: ~€240m / ~€51m cash / no debt

Analyst coverage Berenberg Bank, Commerzbank, Close Brothers, Deutsche Bank, DZ Bank, Hauck & Aufhäuser, HSBC, JP Morgan Cazenove, MM Warburg, Montega

TecDax ranking end of October 2012
Market Cap.	31
Turnover	22

Burda Digital GmbH	2.130.779	38,89%
Ennismore	293.622	5,36%
Cyrte Investments	266.721	4,87%
Treasury Shares	87.732	1,60%
Oliver Jung	216.215	3,95%
Whalerock Capital	179.423	3,27%
Schroders	293.622	5,36%
Ruane, Cunniff & Goldfarb	169.259	3,09%
Sonstige	1.841.518	33,61%

Numbers based on last filing – actual shareholdings can differ

Investor Relations

Contact details & social media channels

Patrick Moeller

Director Investor Relations

XING AG Gaensemarkt 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

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