Q4 / FY 2020 Preliminary Results (unaudited) Investor Presentation

9 February 2021

Importance 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 preliminary and unaudited. The Company intends to publish its annual report 2020, including its audited annual financial statements, on 25 March 2021.

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.

Business Overview

Oliver Steil

Strong Q4 concluded a record FY 2020 Billings and adjusted EBITDA exceeding revised outlook

FY 2020 Growth1

+204% Enterprise Billings

+170% Enterprise Customers

+338% Tensor Billings

+389% Remote Access Billings

+360% Pilot Billings

Exceeded revised FY 20 outlook despite higher than expected FX headwinds
Q4: strongest Enterprise quarter ever with significant upsells and new customer wins
Enterprise business ramped to 12% of total FY 20 billings
High new product billings growth (+246%)² – further diversified revenue base across use cases and customer segments
Tuck-in M&A strategy progressing well supported by high profitability and further reduced net leverage

1 . All figures on LTM 31 Dec 2020 basis; ² incl. Tensor, Remote Management, Remote Access, IoT, Pilot; ³excl. Ubimax with €3.6m billings; ⁴Growth at constant currencies

Innovative use cases drive enterprise traction

Remote Support for medical devices

"The number of use cases we need to provide with secure and high-performance access to our systems is increasing within the clinical environment. That's why the partnership with TeamViewer is becoming increasingly important for us and why we see huge potential to build on that."

Wolfgang Heimsch, Head of Customer Services at Siemens Healthineers

Smart farming and dairy automation company
Remote support for agricultural equipment with Tensor
Serving farmers in more than 45 countries

Enterprise benefiting from new business as well as high retention and strong upselling

Sector	Country	ACV in €	License	Use Cases
Automotive	USA	>200k	Frontline	AR supported guidance with smart glases for mechanics at car dealers in US & UK
Healthcare	USA	>200k	Frontline	AR supported use of medical devices by looking through doctor's smart glasses
Financial Services	Germany	>200k	Tensor	Secure internal IT Support with SSO and conditional access
Technology Hardware	USA	>100k	Tensor	Global IT support and external training for customers on products and maintenance
Media & Entertainment	France	>100k	Tensor	Internal IT support with device management for centralized administration
Industrial	USA	>100k	Frontline	AR guided work instructions for manufacturing and maintenance processes
Automotive	Brazil	>50k	Frontline	AR supported work guidance for trucks
Financial Services	Australia	>50k	Tensor	Remote control of meeting room booking devices
Consumer Discretionary	USA	>50k	Tensor	POS and Mobile device support for clerks in retail locations
Automotive	Germany	>50k	Tensor	Remote support for sales & car diagnosis software
Capital Goods	Germany	<50k	Pilot	AR supported trouble shooting and maintenance for machines at the customer's side
Software & Services	Australia	<50k	Tensor	Remote support & monitoring of software needed in pharmacies

Selection of Q4 2020 deals

Expanding enterprise customer base with significant billings growth Enterprise billings tripled in size, now representing 12% of total billings

¹Customers with invoiced billings across all products and services of at least €10,000 during the last twelve months (ACV or annual contract value) 2 total billings of all Enterprise Customers

THE WAY WE WORK HAS CHANGED

TeamViewer solutions for the entire value chain

Leveraging the connectivity platform for horizontal and increasingly vertical solutions

Financial Overview

Stefan Gaiser

Record FY 2020 billings with sustained high profitability

12 Q4 / FY 2020 Preliminary Results (unaudited) - Investor Presentation

¹Adj. EBITDA as % of billings

High regional billings diversification with broad customer coverage

Strong billings growth due to expanding subscriber base with higher deal values and >100% net retention rate

Subscribers (thousand, LTM) Billings by category (€m)

Continued subscriber growth
New subscribers with higher deal values
Stable subscriber retention and ongoing conversion of remaining perpetual customers
Q4 2020: strong new billings growth paired with high renewals and additional billings from Frontline
103% NRR (FY 20) slightly down due to FX headwinds in Q4 (calculated net of payment defaults)

1Billings generated from subscriptions renewals incl. up and cross sell from all subscribers in the given period 2Incl. non-subscription billings from deployment services, hardware reselling and perpetual licenses

Superior margins maintained while significant investments across functions support future growth

€m	Q4 20	Q4 19	∆	FY 20	FY 19	∆
Billings	128.1	100.6	+27%	460.3	324.9	+42%
Cost of sales of billings %	(9.6) 7.5%	(6.9) 6.9%	+38%	(35.9) 7.8%	(24.2) 7.5%	+48%
Gross profit Margin %	118.6 +92.5%	93.7 +93.1%	+27% -0.6pp	424.4 92.2%	300.7 92.5%	+41% -0.3pp
Sales of billings %	(16.7) 13.0%	(9.5) 9.4%	+76%	(58.1) 12.6%	(37.9) 11.7%	+53%
Marketing % of billings	(9.3) 7.2%	(6.6) 6.6%	+40%	(31.1) 6.8%	(22.8) 7.0%	+37%
R&D of billings %	(10.7) 8.3%	(7.4) 7.4%	+43%	(34.8) 7.6%	(28.0) 8.6%	+24%
G&A of billings %	(7.1) 5.5%	(4.0) 4.0%	+75%	(26.0) 5.7%	(16.4) 5.0%	+59%
Other1 of billings %	(2.7) 2.1%	(3.6) 3.5%	-24%	(12.8) 2.8%	(13.5) 4.2%	-5%
Total Opex % of billings	(46.4) 36.2%	(31.1) 30.9%	+49%	(162.9) 35.4%	(118.6) 36.5%	+37%
Adj. EBITDA	72.1	62.6	+15%	261.4 1) incl. other income/expenses and bad debt expenses of €3.4m in Q2 and €8.5m for H1 2020	182.1	+44%
Margin %	56 3%	62 2%	9pp -5	56 8%	56 0%	+0 8pp

Cost of sales up as anticipated and reflecting investments in platform infrastructure fully in line with financial model
Expansion of solutions sales and continued investments in R&D mainly in the areas of AR and IoT
Strengthened corporate functions
Lower bad debt expenses
FY 20 adjusted EBITDA margin slightly ahead of guidance

1 incl. other income/expenses and bad debt expenses of €3.8m in Q4 and €14.6 for FY 2020 (€4.2m in Q4 2019 and €15.5m for FY 2019)

Sharp increase in FCFE due to consistently strong operating cash flow and significantly lower cost of debt

€m	Q4 20	Q4 19	∆	FY 20	FY 19	∆
Pre-Tax net cash from operating activities (IFRS)	72.9	62.6	+17%	258.0	161.5	+60%
Income tax paid	(8.7)	(2.6)	>100%	(33.4)	(17.9)	+87%
Capital expenditure (excl. M&A)	(3.4)	(8.8)	-61%	(26.2)	(16.6)	+57%
Lease repayments	(1.5)	0.0	n.m.	(4.9)	(3.8)	+27%
Interest paid for borrowings and lease liabilities	(3.2)	(19.6)	-83%	(28.1)	(46.1)	-39%
Levered Free Cash Flow (FCFE)	56.1	31.5	+78%	165.4	77.1	+115%

as % of adj. EBITDA	78%	50%		63%	42%
as % of EBITDA	113%	58%		81%	41%

Capital expenditure mainly related to one-off investments in the ERP system (€13.5m) as well as the new headquarters (€7.6m)
Significant lower interest paid due to substantial deleveraging and improved loan financing terms
FY 20 levered free cash flow excludes loan repayments of €62.8m (net) and €84.1m cash paid for Ubimax

Net leverage further reduced to 1.7x adjusted EBITDA Strong cash flow and €24m loan repayment

Development cash & cash equivalents in Q4 (€m)

53.0 83.5 532.3 495.1 23.1 27.2 502.4 438.7 Cash & cash equiv. Loan facilities IFRS 16 leases Net financial debt 2.0x 1.7x 1.5 2 Net financial debt and net leverage development (€m) Net leverage 30 Sep 20 31 Dec 20 0

TeamViewer solutions avoid 37 Mt of greenhouse gases every year Based on a scientific study conducted by the Institute for Energy, Ecology, and Economy (DFGE)1

Remote connectivity solutions by TeamViewer contribute to an avoidance of 37 megatons CO2 equivalent (CO2e) emissions per year. This equals the emissions of 11 million average cars per year or the amount of carbon that 3.5 billion trees can bind in one year.

A typical TeamViewer subscriber avoids 4t CO2e per year which is as much as a train ride of 100,000 kilometers – corresponding to a distance of 2.5x around the world.

An average TeamViewer connection avoids 13kg CO2e which is as much as a 70km drive with an average car or 5.5 liters of gasoline.

¹Based on 2019 data, calculated in 2020. More information here

2021 Outlook Targeting 29 - 33% billings growth at constant currencies

	2020 Guidance (*excl. Ubimax)	2021 Outlook
Billings (non-IFRS)	€450-455m*	€460.3m1	€585 – 605m
Revenue (IFRS)	at least €450m*	€455.6m2	€525 – 540m
Adj. EBITDA Margin (non-IFRS, as % of Billings)	around 56%	56.8%	55 – 57%
Capital Expenditure (excl. M&A)	€25 – 30m	€26.2m

With c.30% USD denominated billings and exposure to other currencies, reported growth is subject to exchange rate changes
Outlook assumes USD/EUR exchange rate of 1.20 and broadly stable other currencies
Billings outlook corresponds to 29 33% growth at constant currencies
Revenue below billings as remaining perpetual deferred revenue has been largely recognized
Investments to continue in 2021 within financial model, with a greater focus on marketing initiatives
Following one-off investments in 2020, capital expenditure returning to a lower level

¹Ubimax contribution of €3.6m ²Ubimax contribution of €2.9m

Thank you for your attention!

10 - 11 Feb	Roadshow, Virtual (J.P. Morgan)
09 - 10 Mar	UBS Technology One-on-One Virtual Conference
25 Mar	Annual Report
04 May	Q1 2021 Results

Appendix

Further expansion of TeamViewer's global footprint

Sales representatives (FTEs)² per region 2020³vs. 2019

	Inside		Enterprise		Channel		Total
	2019	2020	2019	2020	2019	2020	2019	2020
EMEA	56	69	26	61	14	14	96	144
AMS	49	54	16	42	9	12	74	108
APAC	34	49	9	13	8	9	51	71
Total	139	172	51	116	31	35	221	323
							+46%

1 Includes quota carriers, management and support functions ² Includes quota carriers and management 32020 FTE figures include Ubimax

Q4 2020 reconciliation from management key metrics to IFRS

€m	Management view adjusted P&L	Deferred revenue	D&A	Other non-IFRS adjustments	Accounting view IFRS P&L
Billings / Revenue	128.1	(7.2)			121.0
Cost of sales	(9.6) / (7 Billings) of 5%		(7.7)	(0.2)	(17.5) / (14 Revenue) of 5%
Gross profit contribution	118.5 / (92 of Billings) 5%				103.5 / (85 of Revenue) 6%
Sales	(16.7) / (13 of Billings) 0%		(1.4)	(7.1)	(25.1) / (20 of Revenue) 8%
Marketing	(9.3) / (7 Billings) of 3%		(0.4)	(1.6)	(11.2) / (9 Revenue) of 3%
R&D	(10.7) / (8 of Billings) 4%		(1.5)	(3.2)	(15.4) / (12 of Revenue) 7%
G&A	(7.1) / (5 of Billings) 5%		(0.5)	(5.0)	(12.6) / (10 of Revenue) 4%
Other1	(2.7) / (2 Billings) of 1%		-	1.9	(0.8) / ( Revenue) of 0 7%
Adj. EBITDA	72.1/ (56 of Billings) 3%
D&A (ordinary only)2	(4.6)2
Adj. EBIT / Operating profit (EBIT)	67.5 / (52 Billings) of 7%	(7.2)	(6.8)3	(15.1)	38.3 / (31 Revenue) of 7%
D&A (total)					11.5
EBITDA					49.8 / (41 Revenue) of 2%

1 incl. other income/expenses and bad debt expenses of €3.8m ²D&A excl. amortization intangible assets from PPA 3amortization intangible assets from PPA

FY 2020 reconciliation from management key metrics to IFRS

€m	Management view adjusted P&L	Deferred revenue	D&A	Other non-IFRS adjustments	Accounting view IFRS P&L
Billings / Revenue	460.3	(4.7)			455.6
Cost of sales	(35.9) / (7 of Billings) 8%		(27.6)	(0.6)	(64.1) / (14 of Revenue) 1%
Gross profit contribution	424.4 / (92 Billings) of 2%				391.5 / (85 Revenue) of 9%
Sales	(58.1) / (12 Billings) of 6%		(5.0)	(14.6)	(77.7) / (17 Revenue) of 1%
Marketing	(31.1) / (6 of Billings) 8%		(1.3)	(6.0)	(38.5) / (8 of Revenue) 4%
R&D	(34.8) / (7 6)% Billings) of		(5.2)	(6.6)	(46.6) / (10 Revenue) of 2%
G&A	(26.1) / (5 of Billings) 7%		(2.0)	(26.9)	(55.0) / (12 of Revenue) 1%
Other1	(12.8) / (2 of Billings) 8%			3.1	(9.7) / (2 of Revenue) 1%
Adj. EBITDA	261.5 / (56 Billings) of 8%
D&A (ordinary only)2	(16.3)2
Adj. EBIT / Operating profit (EBIT)	245.2 / (53 Billings) of 3%	(4.7)	(24.8) 3	(51.6)	164.0 / (36 Revenue) of 0%
D&A (total)					41.1
EBITDA					205.1 / (45 of Revenue) 0%

1 incl. other income/expenses and bad debt expenses of €14.6m ²D&A excl. amortization intangible assets from PPA 3amortization intangible assets from PPA

Non-IFRS adjustments in EBITDA

Deferred revenue adjustments Other non-IFRS adjustments

€m	Q4 20	Q4 19	FY20	FY19
Billings	128.1	100.6	460.3	324.9
Perpetual def. revenue Release / (Addition)	6.5	28.7	46.2	124.5
Subscription def. revenue Release / (Addition)	(13.9)	(21.3)	(48.5)	(56.7)
Unallocated def. revenue Release / (Addition)	0.2	(1.1)	(2.3)	(2.6)
Revenue	121.0	106.9	455.6	390.2

Perpetual deferred revenue now largely released with €2.7m remaining on balance sheet (see next page)
Unallocated deferred revenue mainly consists of undue billings not recognized as receivables under IFRS 15

€m	Q4 20	Q4 19	FY 20	FY19
Total IFRS 2 charges	(14.8)	(9.7)	(48.9)	(36.8)
TeamViewer LTIP	(0.6)	-	(1.6)	-
Ubimax share consideration	(7.2)	-	(10.5)	-
Share-based compensation by TLO	(6.9)	(9.7)	(36.8)	(36.8)
Other material items	(2.3)	(5.1)	(5.7)	(21.0)
Financing, M&A, transaction-related	(0.8)	(0.0)	(1.8)	(0.6)
IPO related	-	(0.8)	0.0	(10.8)
Other	(1.5)	(4.2)	(3.9)	(9.6)
USD hedge valuation gain/loss	1.9	-	3.0	-
Total	(15.1)	(14.8)	(51.6)	(57.9)

• TeamViewer cash-settled LTIP includes executive and key employee grants

Ubimax share consideration recognized under IFRS 2 due to vesting condition with respect to continued employment of management
Share-based compensation by TigerLux One (TLO) are fully funded by the selling shareholder in the IPO

Deferred revenue development

€m	Q4 20	Q4 19	FY 20	FY 19
Perpetual deferred revenue (BoP)	9.2	77.5	48.9	173.4
(–) Release	6.5	28.6	46.2	125.5
(+) Addition	0.0	0.0	0.0	1.0
Perpetual deferred revenue (EoP)	2.7	48.9	2.7	48.9

Subscription deferred revenue (BoP)	198.6	142.7	164.0	107.2
(–) Release	114.2	80.5	411.8	267.5
(+) Addition	128.1	101.8	460.3	324.3
Subscription deferred revenue (EoP)	212.5	164.0	212.5	164.0

Total deferred revenue (BoP)	207.8	220.2	212.8	280.6
(–) Release	120.8	109.1	458.1	393.1
(+) Addition	128.1	101.7	460.4	325.3
Total deferred revenue (EoP)	215.1	212.8	215.1	212.8

Profit & Loss Statement (unaudited)

EUR thousands	Q4 2020	Q4 2019	∆ %	FY 2020	FY 2019	∆ %
Revenue	120,971	106,934	13%	455,614	390,191	17%
Cost of sales	(17,465)	(13,810)	26%	(64,102)	(50,228)	28%
Gross profit	103,506	93,124	11%	391,512	339,963	15%
Other income	3,231	(8,132)	-	5,256	7,723	-32%
Research and development	(15,439)	(11,136)	39%	(46,627)	(37,934)	23%
Sales	(25,096)	(18,048)	39%	(77,707)	(52,731)	47%
Marketing	(11,241)	(12,227)	-8%	(38,459)	(29,571)	30%
General and administrative	(12,604)	5,377	-	(54,939)	(58,445)	-6%
Other expenses	(185)	10	-	(415)	(468)	-11%
Bad debt expenses	(3,825)	(4,239)	-10%	(14,576)	(15,489)	-6%
Operating profit	38,346	44,728	-14%	164,045	153,048	7%
Unrealised foreign exchange gains/(losses)	12,665	9,117	39%	27,861	7,770	>100%
Realised foreign exchange gains/(losses)	(244)	(643)	-62%	(1,586)	(20,721)	-92%
Finance income	50	112	-55%	2,953	38,936	-92%
Finance cost	(4,561)	(7,242)	-37%	(22,887)	(83,891)	-73%
Profit before taxation	46,255	46,072	0%	170,385	95,142	79%
Tax income/(expenses)	(17,316)	(1,548)	>100%	(67,358)	8,717	-
Profit/(loss) for the period	28,939	44,524	-35%	103,027	103,859	-1%
Other comprehensive income for the period
Items that may be reclassified to profit or loss in subsequent periods	(756)	(340)	>100%	(1,484)	202	-
Hedge reserve, gross	15	6	>100%	(61)	14	-
Exchange differences on translation of foreign operations	(771)	(346)	>100%	(1,424)	188	-
Total comprehensive income for the period	28,184	44,184	-36%	101,543	104,061	-2%

Balance Sheet (unaudited)

EUR thousands	31 December 2020	31 December 2019
Non-current assets
Goodwill	646,793	590,445
Intangible assets	255,330	235,831
Property, plant and equipment	40,469	26,480
Financial assets	4,516	4,424
Other assets	857	1,740
Deferred tax assets	159	6,266
Total non-current assets	948,124	865,187
Current assets
Trade receivables	19,667	11,756
Other assets	7,594	5,856
Tax assets	52	4,972
Financial assets	4,456	0
Cash and cash equivalents	83,531	71,153
Total current assets	115,301	93,737
Total assets	1,063,425	958,924

Balance Sheet (cont'd) (unaudited)

EUR thousands	31 December 2020	31 December 2019
Equity
Issued capital	201,071	200,000
Capital reserve	366,898	320,661
(Accumulated losses)/retained earnings	(326,854)	(429,881)
Hedge reserve	(61)	0
Foreign currency translation reserve	(343)	1,081
Total equity attributable to owners of the parent	240,711	91,861
liabilities Non-current
Provisions	433	235
Financial liabilities	440,153	582,538
Deferred revenue	361	2,572
Deferred and other liabilities	1,614	0
Deferred tax liabilities	29,186	308
Total non -current liabilities	471,747	585,652
liabilities Current
Provisions	2,225	3,284
Financial liabilities	82,099	34,260
Trade payables	8,304	9,069
Deferred revenue	214,811	210,250
Deferred and other liabilities	39,120	17,793
Other financial liabilities	29	6,642
Tax liabilities	4,378	114
Total current liabilities	350,966	281,411
Total liabilities	822,714	867,063
Total equity and liabilities	1,063,425	958,924

Cash Flow Statement (unaudited)

EUR thousands	Q4 2020	Q4 2019	FY 2020	FY 2019
Cash flows from operating activities
Profit before taxation	46,255	46,072	170,385	95,142
Depreciation, amortisation and impairment of non-current assets	11,455	9,346	41,096	36,442
(Gain)/loss from the sale of property, plant and equipment	(285)	13	(278)	(5)
Increase/(decrease) in provisions	890	1,501	753	2,170
Non-operational foreign exchange (gains)/
losses	(13,199)	(9,450)	(30,541)	10,869
Expenses for share-based compensation - equity settled	14,115	9,742	47,308	36,830
Net financial result	4,511	7,130	19,935	44,955
Change in deferred revenue	7,349	(6,564)	2,233	(67,814)
Changes in other net working capital and other	1,799	4,766	7,063	2,899
Income tax paid	(8,711)	(2,633)	(33,417)	(17,879)
Net cash from operating activities	64,179	59,923	224,536	143,610
flows from Cash investing activities
Capital expenditure for property, plant and equipment and intangible assets	(3,387)	(8,789)	(26,168)	(16,551)
Proceeds from the sale of property, plant and equipment	0	(18)	23	0
Payments for the acquisition of non-current financial assets	0	(4,326)	(51)	(4,326)
Acquisition of subsidiaries	0	0	(84,053)	0
Net cash used in investing activities	(3,387)	(13,134)	(110,249)	(20,877)

Cash Flow Statement (cont'd) (unaudited)

Q4 2020	Q4 2019	FY 2020	FY 2019

(23,845)	(517,260)	(62,832)	(696,373)
0	536,296	0	610,313

(1,505)	3	(4,863)	(3,836)

(3,234)	(19,596)	(28,071)	(46,100)
0	(33)	0	(131)
0	0	0	25
(28,584)	(590)	(95,766)	(136,102)
32,209	46,199	18,521	(13,369)
(1,468)	(1,646)	(6,082)	0
(179)	(99)	(61)	815
0	0	0	3,768
52,969	26,698	71,153	79,939
83,531	71,153	83,531	71,153