Scout24 AG

Investor Presentation • Sep 17, 2017

www.scout24.com

Scout24 AG

Company Presentation

September 2017

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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Our Purpose: Inspiring people's best decisions.

Scout24 Group Life Beats on the Scout24 Platforms

Source:

1.Management estimate; Leading position in real estate classifieds in Germany in terms of listings and traffic as well as a leading position in Europe (Belgium, Luxembourg, Netherlands, Italiy) for automotive classifieds, based on listings and traffic., June 2017.

1. Source: Management estimates, own traffic monitor, June 2017

2. Based on latest World Bank population data and OECD average household size data.

3. Based on management estimates and Autobiz, June 2017

Our Growth Path Continue to Pursue Monetization of Core Verticals

Expanded Growth Opportunity Well Positioned for Further Growth Along Value-Chains

Key Investment Highlights

Source: OC&C analysis 2014, 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 German Real Estate In Terms of Content and Audience

Source:

Listings: Management estimates, internal data. Customers with at least one active listing at the respective date (usually end of month).

Traffic and Engagement: Based on average Unique Monthly Visitors ("UMV") for traffic and total time spent for engagement in H1 2017, comScore MMX May 2017 (desktop only for traffic and desktop and mobile for engagement). H1 2017 average based on January – May data. Audience share based on total time spent within Germany competitor set for online property classifieds which includes IS24, Immonet and Immowelt.

Clear No. 1 Market Position German Real Estate ² Attractive Market with Room for Growth

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 2014 analysis.

3. Source: Eurostat, 2014

4. Source: ONS, ABS, Statistisches Bundesamt, various statistical offices for individual German states ("Statistisches Landesamt"), OC&C 2014 analysis.

Significant Monetization and ARPU Upside at IS24 ³

Membership Model Increases Price Differentiation

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 2016.

Significant Monetization and ARPU Upside at IS24

Membership Model Delivers Increased Exposure to Drive Value

Basic Product Set List all Logo, Market Navigator Up to 50% Top Listings Membership platform Showcase Listing Premium Listing Top Listing Standard Listing VIA Power Products Media Display Advertising Acquisition Lead (available to Membership Customers only) Exposure¹ 8.0x 4.0x 2.3x 1x

Source:

1. 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 +10% YoY			1		Display & Other Countries
AS24 Dealer Locations²	25.5k	8.0k	4.6k	6.4k
AS24 Dealer Listings3	1,013k	309.7k	86.7k	237.9k
AS24 Position 3 (Dealer Listings)	On Par	#1	#1	#1
Aided Brand Awareness4	#1	#1	-	#1
% of AS24 Revenue (H1 2017)	38%		33%		29%

Peer Group Comparison: Significant growth potential in ARPU

1.Combined data for Belgium and Luxembourg.

2.Source: Management estimates (June 2017)

1. Source: Autobiz (June 2017)

3.Source: Norstat (December 2016) among other automotive marketplaces, Belgium not part of the study

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 2016. Auto Trader UK ARPU

• reported on the basis of retailers, excluding home traders.
• 1. Source: Auto Trader March 2015 IPO prospectus (for Auto Trader UK), company information (for AS24). 6.Source: OC&C analysis.

A European Automotive Classifieds Leader 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 of the first quarter 2016 2. 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.

1. Prices Marketing Power Products in Germany, European prices for Plus and Premium listings differ.

4

Large Adjacencies

Expanding Our Addressable Market and Growth Opportunity

Scout24 is Extremely Well Positioned for Long-Term Growth along Real-estate And Automotive Value Chain

• ➢ Unique position to tap large adjacencies at IS24 and AS24 and
• ➢ Capitalize on leading position to take advantage of the convergence between marketplaces, networks and workflows
• ➢ Significant user overlap between IS24 and AS24
• ➢ Cross-leverage its combined user base at scale

Transforming Consumer Experience Continuously Digitizing the Process of Property Rental & Buying

6

Transforming Consumer Experience

Continuously Digitizing the Process of Buying and Selling a Car

6

Look into the Lab Utilising User Overlap

Re-directing engaged traffic from IS24 to AS24 without impairing engagement on IS24

1. Based on average Unique Monthly Visitors ("UMV") for traffic, comScore MMX May 2017 (desktop and mobile). H1 2017 average based on January – May data.

2. Daily active users.

3. Based on early Alpha-Testing, short trial period of some days only.

Strong Cash Flow Generation ⁷ With Clear Priorities for Free Cash

Revenue to Free Cash Flow Bridge (2016)

Attractiveness of the Scout24 Business Model

	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	» Superior value proposition implying significant ARPU uplift potential
	leverage	» 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 » Clear priorities for free cash

Scout24 Investor Relations

Investor Relations Contact Details

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

Diana Apostol

Junior Manager Investor Relations Tel : +49 89 444 56 3278 Fax : +49 89 444 56 193278 Email : ir@scout24.com

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

Full Year Report 2016 report.scout24.com/2016 Group Interim Report 2017 www.scout24.com/en/Investor-Relations/Financial-Publications/Financial-Publications.aspx