TeamViewer AG — Investor Presentation 2020

Jul 15, 2020

Göppingen | Bremen / July 15, 2020 Acquisition of Ubimax

Important Notice

This presentation as well as any information communicated in connection therewith (the "Presentation") contains information regarding TeamViewer AG (the "Company") and its subsidiaries (the Company, together with its subsidiaries, "TeamViewer"), as well as certain information regarding Ubimax GmbH and its subsidiaries. It is being provided for informational purposes only and should not be relied on for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose.

All stated figures are preliminary and unaudited. TeamViewer intends to publish its half-year financial report 2020, containing TeamViewer's consolidated interim financial statements as of and for the six months ended June 30, 2020, on August 4, 2020.

Certain statements in this presentation may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer's disclosures. You should not rely on these forward-looking statements as predictions of future events and we undertake no obligation to update or revise these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels.

The Company undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to it or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this Presentation.

This document contains certain alternative performance measures (collectively, "APMs") including billings and Adjusted EBITDA that are not required by, or presented in accordance with, IFRS, German GAAP or any other generally accepted accounting principles. TeamViewer presents APMs because they are used by management in monitoring, evaluating and managing its business and management believes these measures provide an enhanced understanding of TeamViewer's underlying results and related trends. The definitions of the APMs may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should, therefore, not be considered in isolation or as a substitute for analysis of TeamViewer's operating results as reported under IFRS or German GAAP. APMs such as billings and Adjusted EBITDA are not measurements of TeamViewer's performance or liquidity under IFRS or German GAAP and should not be considered as alternatives to results for the period or any other performance measures derived in accordance with IFRS, German GAAP or any other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities.

TeamViewer has defined each of the following APMs as follows:

"Billings" represent the value of goods and services invoiced to customers in a given period and is defined as revenue adjusted for change in deferred revenue p/l effective; "Adjusted EBITDA" means EBITDA, adjusted for P&L-effective changes in deferred revenue as well as for certain special items relating to share based compensations and other material items that are not reflective of the operating performance of the business;

This document also includes further certain operational metrics, such as Net Retention Rate, and additional financial measures that are not required by, or presented in accordance with IFRS, German GAAP or any other generally accepted accounting principles (collectively, "other financial measures"). TeamViewer presents these operational metrics and other financial measures for information purposes and because they are used by the management for monitoring, evaluating and managing its business. The definitions of these operational metrics and other financial metrics may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should, therefore, not be considered in isolation or as a substitute for analysis of TeamViewer's operating results, performance or liquidity as reported under IFRS or German GAAP.

TeamViewer has defined these operational metrics and other financial measures for information purposes as follows:

"Net retention rate" means annual recurring billings in the period considered less gross value churn plus billings from upselling and cross-selling, including foreign exchange effects and expiring discounts, as a percentage of annual recurring billings in the previous the period considered;

"Cash conversion" or "cash conversion rate" means the ratio of free cash flow (pre-tax) to Adjusted EBITDA, represented as a percentage of Adjusted EBITDA;

"Free cash flow (pre-tax)" means Adjusted EBITDA less capital expenditure and adjusted for change in other net working capital;

"Other Net working capital" consists of the following balance sheet positions from the operating activities: trade receivables, trade payables, other current assets, other current liabilities and accruals (excl. deferred revenues); and

"Leverage" means the ratio of net financial debt (sum of interest-bearing loans and borrowings, current and non-current, less cash and cash equivalents) to Adjusted EBITDA.

TeamViewer And Ubimax To Create The Global Leader In Industrial Workplace Technology

• Combining leading connectivity, AR and IoT technologies
• Frontline workforce solutions for significant efficiency gains along the industrial value chain
• Expansion of product offering for Enterprise customers
• Combined TAM of €40bn in 2023, driving growth dynamics
• Joint vision to create a global technology leader from Europe

"Ubimax is the global market leader for Enterprise Wearables and AR Solutions, with a robust partner base and suite of offering spanning end-to-end"(1)

Global MARKET LEADER

2014 FOUNDED

90+ EMPLOYEES

35 ECOSYSTEM PARTNERS

9.1€M BILLINGS LTM(2)

20€BN TAM BY 2025(3)

AR SOLUTIONS Supported Hardware Deployment Services

Founder MANAGEMENT

DR. HENDRIK WITT (CEO)

JAN JUNKER (CCO)

PERCY STOCKER (President Ubimax Inc.)

(1) Eric Abbruzzese, Principal Analyst, ABIresearch (2) Total billings as of 30 June 20 (3) Ubimax total addressable market: Source: Goldman Sachs, company information (4) Selection shown

Fully Integrated Platform To Drive Frontline Work Productivity

Four Solutions Improving Efficiency Along the Industrial Value Chain

Supply Chain

• Manual Order Picking

• Incoming & Outgoing Goods
• Inventory & Sorting

Source: www.ubimax.com/en/references

Manufacturing

• Assembly Instructions
• Quality Assurance
• Training

Field Service

• Service & Maintenance
• Guided Diagnosis
• Guided Troubleshooting

Remote Support

• Augmented Reality Features
• 2-Way Video & Audio
• Document Exchange

Addition To TeamViewer's Scalable Multi-Product Platform: New Use Cases And Integration Across The Technology Stack

Strategic Rationale: Transaction Ticks All The Boxes

Growth Drivers Of The Industrial AR Business Will Support TeamViewer's Growth Dynamics

(1) Sources: McKinsey & Company, Goldman Sachs (2) Total Ubimax billings excl. TeamViewer Pilot (3) Service, Hardware, Research

Transaction Highlights

Valuation	€136.5m on a cash and debt free basis • Represents a multiple of c. 12.2x on 2020E billings(1) (1) and below 10x on 2021E billings •
Consideration	€85.8m from cash available on balance sheet • €50.7m paid by issuing 1,070,931 shares(2) • from existing authorised capital with subscription rights excluded
Management Retention	Ubimax founders assuming key management positions • Share consideration locked-up for 3 years with yearly partial vesting • Participation in TeamViewer long-term incentive plan •
Timing	Closing expected to occur in Q3 2020, subject to certain conditions • Consolidation in TeamViewer Group not later than October 1, 2020 •

(1) Total Ubimax billings

(2) Paid to founding shareholders based on the reference price of €47.3444 calculated as the volume weighted average of the daily VWAPs on the Xetra stock exchange over the 30 days prior to the date (including) of determination

Thank You!

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