TeamViewer AG — Investor Presentation 2021

Mar 30, 2021

TeamViewer Marketing Strategy Update

30 March 2021

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"). 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 unaudited.

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 (net) value of goods and services invoiced to customers in a given period if realization is probable – it 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 (NRR)" means annual recurring billings of existing subscription customers during 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 period;

"Levered free cash flow" (FCFE) means net cash from operating activities less capital expenditure for property, plant and equipment and intangible assets (excl. M&A), payments for the capital element of lease liabilities and interest paid for borrowings and lease liabilities; and

"Net 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.

Unless otherwise stated, the information and statistics provided herein are based on publicly available information, company information, or data provided by the respective marketing partner.

Executive summary

Growth strategy	Our growth strategy delivers: Billings to more than double until 2023 to reach €1bn
Investment in brand equity	Reaching the next level: We invest in brand equity to become a truly global tech brand and to unlock our full business potential
Further expand into all customer segments	Building on our success: Our new marketing strategy accelerates our enterprise customer and personal user expansion in all key markets to grow stronger for longer
Global sports partnerships with #1 teams	Our focused approach: Global sports partnerships with top teams, emotional storytelling and new use case opportunities as cornerstones of the strategy: ▪ Principal partner of Manchester United: # 1 sports, # 1 league and # 1 club in terms of global reach ▪ Team partner of Mercedes-Benz F1 and FE: # 1 motor sports, fastest growing sports and # 1 team in terms of reach
Growth ambition	Our growth ambition: Sports partnerships to foster ≥ 25% annual billings growth after 2023, leading to extra billings of around €150m in 2025. At the same time, we maintain best-in-class adjusted EBITDA margin levels and continue to drive our existing growth initiatives, including selective tuck-in acquisitions

2020 saw a transformation of TeamViewer along all growth dimensions

Through organic R&D and selected M&A we created a solutions portfolio across the entire customer value chain

Very attractive opportunities to tap into adjacent addressable markets

Brand building as the obvious next growth engine…

DOMINATE the clutter	POSITION the solutions	GAIN pricing power	BUILD relationships
Awareness	Consideration	Purchase	Re-Purchase/ Loyalty
Gain global unaided awareness & significantly revive ecosystem	Foster brand values, relevant success stories and quality perception to position the solutions portfolio	Gaining pricing power from premium positioning, through significant customer access and lead generation	Long term business (Re Purchase) based on relevant innovation, repeated performance proof points

All major tech players have started to build significant brand equity at one moment in their life cycle

….with proven impact according to numerous studies

Long-term impact of brand building

• Brand drives long-term sales growth vs. sales activation / performance marketing that focus on short-term commercial success*
• Brand lowers activation costs and increases overall efficiency

Brand reaches new and future target groups

• Broader targeting, combined with
• emotional messaging leads to
• better recall and build up of • awareness of future buyers

5-10% of B2B customer are in market

• Large profit growth predominantly driven by emotional activation the longer the campaign duration*

Time

Emotional campaigns outperform pure rationale

• Brand is a distinctive asset that protects better against competition

• helps to acquire and retain top talent
• opens doors to relevant stakeholders
• decreases pricing sensitivity, which can drive profitability

Brand equity creates many ancillary advantage

MEETING RECEPTIVENESS

COMPETITIVE ADVANTAGE

TALENT ACQUISITION

The new TeamViewer global Marketing framework

Global sports partnerships with #1 teams combine all relevant marketing tactics under one umbrella

We ran a competitive due diligence process to assess various sports assets

Based on quantitative analysis we decided to pick assets that clearly stand out

… 87m average TV viewing audience per race

… as only truly global sports series with 23 races in 22 countries on all continents

the worlds most broadcasted sports league with 189 countries contracted

Manchester United fans are more likely to be C-suite executives and B2B decision makers than the general public²

Exposure across 100% of football esports with dedicated ePremier League (FIFA) and eFootball.Pro League (Konami) teams

¹Source: Kanter ²Source: Futures Sports & Entertainment Updated as of 6 April 2021

dominant team with 7 titles since 2014

48 CEOs attended last Mercedes AMG Executive Summit

50 technology & software player as Formula 1 and Formula E partner

These partnerships offer ample new use case opportunities

Connecting Teams

Large Scale Deployments

Fan Engagement

AR Physiotherapy & Injury Prevention

Virtual Stadium Access

AR Enhanced Trainings

Real-time Assistance of Heavy Equipment

Secure & Device Agnostic Remote Access

IoT Monitoring of Critical Assets

Remote Vehicle Diagnostics & Fleet Management

Virtual Behind the Scenes Access

TeamViewer proudly presents…

Triple #1: The number one sport. The number one league. The number one club

Football is the #1 sport in the world

The Premier League is the #1 league in the world

Manchester United is the #1 Premier League team

Source: Kantar

Update as of 6 April 2021

Manchester United is the most popular club in the world > 3,000,000,000 ANNUAL CUMULATIVE TV AUDIENCE

74M FANS AND FOLLOWERS AMERICAS EMEA APAC

Premier League rights in the US have doubled in value in the last cycle

MU broke record attendance for a US football (soccer) game

Source: Kantar, Futures Sport + Entertainment, Sportcal, Manchester United Data, Sina Weibo

296.1M FANS AND FOLLOWERS

An institution of European football

Most subscribed football channel in the UK

731.7M FANS AND FOLLOWERS

1st sports club to reach 10m Sina Weibo followers

Launch of Harves entertainment centres to engage with fans locally in China

A global brand that transcends sports and entertainment

MANCHESTER UNITED

• #1 Fan base vs. Top 10 other teams

BRANDING/ MARKETING ASSETS

• Principal Partner & official shirt partner, exclusive within the product category

FANBASE

• 1.1bn fans and followers

Strategic partnership to accelerate our brand equity building

GROW GLOBAL BRAND

• Shirt branding
• LEDs
• Interview backdrop
• Stadium branding
• Concourse branding

• Digital exposure

• Social Media, Podcast, MUTV

• Top players brand ambassadors
• Specific market strategies for China, India, Japan, USA
• Infinite content creation

• Powerful TeamViewer showcases

• Access to Senior Management

• VIP hospitality & experiences
• Access to OT & club locations
• Player of the Year Awards
• China entertainment centres

• B2B Case Studies

• B2B Case Studies

• TeamViewer Innovation hub
• Sustainability & Equality Programmes
• Experiential assets

Manchester United offers unparalleled social media activation

• Over 174m social media connections
• 8.7x more Facebook connections than the New York Yankees
• More Facebook connections than NBA, NFL, NHL, MLB combined
• Fastest sports club to reach 3m YouTube subscribers

• 1 sports app in 100 markets globally

Accelerating brand impact for TeamViewer across global media

• 2,346 Global News Articles
• 500+ News Articles in the US alone
• 195mviews of News Stories across all markets

Source: Meltwater, CoverageBook

Delivering awareness growth for TeamViewer amongst fans globally from partnership announcement

Partners achieved very positive results in both brand and financial metrics from year 1 of the partnership

Countless partnership options based on use case discovery

Match Day and Ticketing Support

Enhancing Business Processes and Digitize Workplace

Connecting Network of Club Locations

IoT Monitoring of Stadium Equipment and Cameras

Behind the Scenes Access for Fans

AR Based Injury Prevention & Rehabilitation

Proudly presents

A unique partnership with one of the world's most powerful automotive brands across two of the most technically advanced sports, Formula 1 and Formula E

W I N N E R O F T H E L A S T S E V E N

F O R M U L A O N E W O R L D C H A M P I O N S H I P S

2014 2015 2016 2017 2018 2019 2020

Formula 1 is one of the most watched annual sports in the world. Mercedes AMG Formula 1 partnership | snapshot Delivering unrivalled reach and frequency

The Mercedes-AMG Petronas Formula 1 Team enjoys the largest social media following and greatest share of TV broadcast

Mercedes-AMG Petronas F1 Team partnership

Snapshot

Mercedes-AMG Petronas F1 Team partnership

Snapshot

Mercedes-AMG Petronas F1 Team partnership

Snapshot ESG

Formula E

One of the fastest growing sports in the world

Mercedes-EQ Formula E Team partnership

Snapshot

Formula 1 and Formula E

Significant opportunities for further OT use case development between top-class engineering teams

EXISTING INTEGRATION

• F1 Team is already using TeamViewer as of today for remote access and operations on the racetrack and in headquarters

MULTIPLE ENGAGEMENT OPPORTUNITIES

• Position TeamViewer's large product portfolio for IoT & Asset Management
• Augmented Reality Supported inspection, maintenance and technician training
• Augmented Reality Experience for fans that can't attend the event
• Life Customer Engagement through Chat / Video with fanbase
• Behind the scenes reports let fans get close to the drivers and crew
• Digitalize F1 and act as role model for further use cases

Motorsport targets the right audience for Team Viewer and on-track success drives increased brand value

Relevant Target Audience

Mercedes F1 fans are more likely to be C-suite executives than

4,75 x the general population in the US 2x the general population in UK

2,8 x more likely to have a final decision in relation to IT processes

Financial Impact & Growth Ambition

Adj. EBITDA margin will remain best-in-class. Growth initiatives to benefit from marketing step-up and therefore...

New marketing budget complementary to R&D and Sales Expansion

• New 2021 budget increased by additional marketing expenditure
• Additional spend within financial envelope no external funding required
• Investments in sales and R&D to continue
• M&A strategy of selective bolt-on acquisitions unchanged potential margin dilution reflected in projected margin
• Capex plan unaffected
• TeamViewer maintains best-in-class adj. EBITDA margin among high growth peers

TeamViewer S&M model very attractive compared to Peers

¹Selected peers incl. Atlassian, CrowdStrike, DataDog, Okta, RingCentral, salesforce, ServiceNow, Slack, Workday Zoom, ZScaler

² FY18-20 avg. sales and marketing expenses excl. share-based compensation as percentage of FY18-20 average revenue (billings in case of TeamViewer)

...resulting in higher and longer growth 2023 - 2025 and beyond significant value creation upside

• Incremental billings from 2023 onwards

• Continued growth trajectory with annual growth of ≥ 25% after 2023

• Expecting c.€150m incremental billings

• Margin expansion potential from 2024

• Positive adj. EBITDA impact accelerating from 2025

¹2021 adj. EBITDA margin outlook 49-51% multiplied by 2021 billings outlook

Partnership expenses partially absorbed by strong billings growth

Increased long-term growth opportunity 2021 adj. EBITDA outlook updated to reflect near term marketing expenditure

	Previous 2021 Outlook	Updated 2021 Outlook	Long-term growth ambition
Billings	€585 –	€585 –	Grow ≥ 25% p.a. after 2023
(non-IFRS)	605m	605m
Revenue	€525 –	€525 –
(IFRS)	540m	540m
Adj. EBITDA Margin	55 –	49 –	Margin expansion potential from 2024
(non-IFRS, as % of Billings)	57%	51%	due to scale effects
	• 2021 outlook assumes USD/EUR exchange rate of 1.20 and broadly stable other currencies • Billings outlook 2021 corresponds to 29 - 33% growth at constant currencies • Adj. EBITDA margin updated solely due to step-up in marketing spend. Sales and R&D investments to continue within financial model		• Existing comprehensive growth plan and additional marketing initiatives to underpin strong growth across customers segments • Enterprise billings expected to approach 40% of total billings • Adj. EBITDA margin projected to remain at around 50% until 2023. This takes further dilutive bolt-on M&A into account