Scout24 AG — Investor Presentation 2016

Sep 2, 2016

www.scout24.com

Scout24 AG

Company Presentation

September 2016

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.

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Two Leading Digital Marketplaces Under One Roof Focused on Property and Automotive

*therein local language versions of our marketplace in 11 countries.

• 1. In terms of consumer traffic and engagement based on Unique Monthly Visitors ("UMVs") for traffic and total time spent for engagement; comScore June 2016 (desktop only for traffic and desktop and mobile for engagement). A well as customer numbers and listing; management estimates.
• 1. In terms of listings; Autobiz June 2016.

• Based on time spent. Source: comScore, June 2016 (desktop and mobile).

• Source: Autobiz June 2016

We're a partner in life-changing moments.

• Finding a home and buying a car two major events in people's lifes.
• We accompany our consumer's and customer's journeys.
• We make these processes simple, efficient and stress-free.

of IS24 users are interested in…

30%

of AS24 users are interested in…

Our Growth Path Continue to Pursue Monetization of Core Verticals

Key Investment Highlights

Source: OC&C analysis, unless otherwise stated. 2018 classifieds forecasts based on OC&C average case. 1. Source: PwC, ''Growing complexity driving change in the automotive market'', December 2014. 2. Source: Enders Analysis, March 2015.

Clear No. 1 Market Position ² in the Attractive German Property Market

1. Source: ONS (UK, 2014), GEWOS (Germany, 2013), ABS (Australia, 2013), English Housing Survey (UK, 2013-14), OC&C analysis.

2. Source: Statistisches Bundesamt, ONS, INSEE, OC&C analysis.

3. Source: EMF Hypostat (2014), OC&C analysis.

4. Source: ONS, ABS, Statistisches Bundesamt, various statistical offices for individual German states ("Statistisches Landesamt"), OC&C analysis.

Significant Monetization and ARPU Upside at IS24 ³

Membership Model Increases Price Differentiation and Focus on Upsell

Source: Company information.

Note: ARPU definition: Revenues from core agents for the period divided by the average number of core agents at BoP and EoP and divided by the # of months in the period. 1. Among the approximately 90% of core agents that are targeted for migration to the membership model, end of December 2014 and 2015

8

Significant Monetization and ARPU Upside at IS24 ³ Membership Model Delivers Increased Exposure to Drive Value

Exposure¹

1. Indicative recommended retail prices for membership year 1 for non-members.

2. Source: Company information. Exposure = object clicked in result lists (excl. lists resorted by users and pre-fab house lists) containing all VIA power products and less than 1,500 listings, data as of 27.06-26.07.2015.

A European Automotive Classifieds Leader, ⁴ with Strong Momentum

Dealers +13% YoY Listings +18% YoY			1		Ad Sales & Other Countries
AS24 Dealer Locations²	22.3k	7.5k	4.4k	5.0k
AS24 Listings	1,206k	388k	123k	234k
AS24 Position (Listings)2	On Par	#1	#1	#1
Unaided Brand Awareness³	#1	#1	#1	#1
% of AS24 Revenue (2015)	36%		30%		34%

Evidence from International Peers

1.Combined data for Belgium and Luxembourg.

2.Source: Autobiz (December 2015).

3.Source: Vocatus (December 2014).

4.Source: Public filings (Auto Trader UK), company information (AS24). 2014 AS24 ARPU (core dealers in Germany) compared to Auto Trader UK reported ARPU for FY ending 31 March 2015. Auto Trader UK ARPU reported on the basis of retailers, excluding home traders. Currency conversion at 0.713 EUR/GBP.

1. Source: Auto Trader March 2015 IPO prospectus (for Auto Trader UK), company information (for AS24).

A European Automotive Classifieds Leader ⁴ Accelerate Monetization via Marketing Power

1. Source: Company information. VDP = Vehicle Detailed Page Views. Analysis compares vehicles within the same price range, for the period 25.05.2015–21.06.2015.

2. Source: Company information. Monthly on-top-product revenue pre-launch of Marketing Power is based on Q4 2014 average monthly revenue.

3. Source: Company information. As of 01.06.2015 – 30.06.2015. Data set assumes that cars are sold when they are taken off AS24 website.

Large Adjacencies ⁵ that Expand Our Addressable Market and Growth Opportunity

IS24 and AS24 have a Significant Audience Overlap¹

Unique position to tap large adjacencies at IS24 and AS24 and drive efficiency Capitalize on leading position to take advantage of the convergence between marketplaces, networks and workflows Cross-leverage its combined user base at scale ● Mortgage loans ● Home insurance ● Utilities ● Moving expenses ● Renovation Property and Adjacencies c.€510bn+ Property Transaction Value c.€137bn Agent Commission Pool c.€6bn Marketing Spending c.€0.8bn Online Marketing c.€0.3bn Automotive Advertising (incl. OEM) €2bn+ ● New cars retail ● Used cars retail ● After-sales market ● Auto finance & leasing ● Car insurance Automotive Dealer Marketing €0.6bn Automotive Classifieds c.€0.3bn Property Market Opportunity² Auto Market Opportunity² Automotive Sector in Germany c.€280bn+ c.30% of users interested in property c.43% of users interested in auto

1. Source: Management estimate. Data for Germany only.

Scout24 is Extremely Well Positioned for Long-Term Growth

1. Source: OC&C analysis. Net spend, includes display advertising, classified advertising, and below the line marketing spend such direct mail, email marketing, newsletters, events, exhibitions and customer magazines.

Large Adjacencies ⁵ that Expand Our Addressable Market and Growth Opportunity

Indirect

B

Monetization (Lead Gen)

• » Examples: Credit Check, Valuation
• » Paid-for products that make the searching or listing experience more simple and efficient

• » Direct monetization and payment on IS24

• » Price comparison services for products not directly offered by IS24

• » Monetization via leads to providers

• » Examples: Ad Campaigns, Programmatic

• » Branding campaigns for real estate professionals (critical to acquire new mandates) or third parties

Attractiveness of the Scout24 Business Model ⁶

 Favourable dynamics	» Structural top-line growth driven by the ongoing print-to-digital shift » Exceptional brand and strong network effects in a classic two-sided market with high barriers to success
 Recurring revenue	» High-growth, subscription-based model underpinned by superior customer ROI proposition » High market penetration and high retention rates showcase Scout24's must-have, mission-critical service
 OneScout24	» Fully-integrated organization across two market-leading verticals, allows for tangible operational synergies » IS24 and AS24 follow similar business model fundamentals and share a significant portion of their user base
 Operating leverage	» Superior value proposition implying significant ARPU uplift potential » Scalable technology and low marginal cost drive high operating leverage
 Strong cash generation	» Low capex requirements and favorable working capital trends lead to high cash generation » Robust deleveraging ability

Future growth path: From Classifieds to Market Networks Transforming How People Get Products and Services

IR Contact details

Investor Relations Contact

Britta Schmidt Vice President Investor Relations & Treasury Tel : +49 89 444 56 3278 Fax : +49 89 444 56 193278 Email : ir@scout24.com

http://www.scout24.com/en/Investor-Relations.aspx

Full year report 2015 report.scout24.com/2015