Company Presentation by Andrea Vecchiola, CEO of Fessura at the NOAH Conference 2018 in London, Old Billingsgate 30-31 October 2018.

1. NOAH Conference London 2018
Andrea Vecchiola, CEO e founder

2. Three Conferences, One Mission: Empower the European Digital Ecosystem
To provide a physical marketplace
that facilitates funding of
digital European companies
at all stages
Mission Mission Mission
To promote Israel - European
relationships and enable funding
To bring together future-shaping
executives and investors active
across segments driven
by digital revolution
Connecting
Capital with
Entrepreneurs
Connecting European
Champions
and Challengers
Connecting Israel’s Startups
with Large Corporates
and Investors
30-31 October 2019
Old Billingsgate, London
13-14 June 2019
STATION Berlin
9-10 April 2019
Hangar 11, Tel Aviv

3. 3 Generations of shoes industry disruptors
Aldo Botticelli,
introduced industrialized shoes
production in Italy
Andrea Vecchiola,
introduced the first changeable
upper sneakers
1945 1999

4. The original
iconic system
since 1999
Mummy shoe
Sales ’15 - ‘18 53,000 pairs
Target ’19 - ’22 100,000 pairs

5. 2010
2013
Pioneer of the elastic sneakers
2014
Y3 Adidas Balenciaga D&G Nike
2015 2016 2017
Sales ’15 - ‘18
Target ’19 - ‘22
104,000 pairs
335,000 pairs
Socks shoe

6. We finally unveiled the first healthy shoe
everyone in the industry has been looking for….
FESSURA
REFLEX
GREEN
HEALTH
PLEASURE

8. We are joking!

9. stress
anxiety
digestion
back pain
REFLEX
Target ’19 - ‘22 135,000 pairs

10. SYNC YOUR
AVATAR WITH
THE MOBILE APP
Track your activities
Check your posture
Find your center of gravity
You walk, your Avatar do the rest!

11. SNEAKER/CASUAL MKT: $ 100 bn worldwide ALTERNATIVE MKT: $ 47.9 bn
With reflex we fill a market gap
DESIGN
DESIGN
PRICE PRICE

12. Served under
Fessura Italia
Served under
Fessura HK
Revenues EBITDA (%)
Fessura Italia
revenues
Fessura HK
revenues
Financial KPIs
€ 1 M
€ 0.3 M
ITALIA
€ 0.2 M
€ 0.8 M
€ 0.3 M
€ 0.2 M
€ 0.1 M € 0.1 M
EUROPA RUSSIA
KPRS
ASIA MIDDLE
EAST
OCEANIA
INDONESIA
NORTH
AMERICA
SOUTH
AMERICA
16 %
17 % 18 %
18 %
2015
17 % 17 % 22 % 17 %
€ 0.45 M
€ 0.82 M
€ 0.67 M
2016
€ 0.79 M
2017 2018
€ 0.98 M
€ 1.1 M
€ 1.5 M
€ 1.6 M

13. ~98% of shoes are sold via Wholesale. If we push sales through direct channels, margins easily quintuple
Thats’ why Fessura is “Going Global with Online Distribution” (e.g. in 2018 opening of a proprietary e-commerce via Shopify)
Manufacturing Logistics Wholesale
Direct channels:
Retail + e-commerce
DIRECT COSTS SALES PRICES
€ 50 € 150€ 25 € 2 Wholesale; € 10 Direct
GROSS MARGIN WHOLESALE: € 23/item
GROSS MARGIN DIRECT CHANNELS: € 115/item
Fessura gross margin

14. Going online: a practical case
Digital Out of Home and, Small flexible corner shops to push online sales

15. Operational KPIs
2018 2022
Wholesale OnlineWholesale
10,000 pairs
50,000 pairs
10,000 pairs
80,000 pairs 80,000 pairs
TOTAL SHOES
REVENUES
EBITDA
60,000 pairs
€ 3 M
19 %
110,000
€ 21 M
30 %
160,000
/
50,000 pairs
20,000 pairs 30,000 pairs

16. FESSURA WILL INVEST € 6 Mn (1.5 Mn / Year) WITH A CAPITAL RISE GOAL OF € 4 Mn
Digital
channels Team
Vip
Testimonials
Fashion
events
New
stores
Product
Innovation
Future plans
Revenues
EBITDA
2015 2016 2017 2018 2019 2020 2021 2022
SHOES (IN K UNITS)
REVENUES (IN € M)
EBITDA (% ON REVS)
25.5
1.12
19 %
30
1.5
17 %
42
2.1
19 %
60
3.1
17 %
81
6.2
27 %
112
9.4
27 %
163
15
28 %
213
21.2
29 %

17. “Fessura is the intersection between tradition and innovation.
The creation of a new world where we feel free to invent and inspire”
Andrea Vecchiola

18. Selected Completed NOAH Transactions
Focus on Leading European Internet companies
Covering over 400 companies across 25 online
verticals, a broad range of over 500 investors as
well as 100+ online-focused corporates
Deep understanding of industry dynamics
Ability to add value beyond banking advice
Facilitates overall process and minimizes
management distraction
NOAH Advisors is globally well connected
and has direct access to virtually all key
players in the industry
Knowledge of and strong relationships with
potential buyers’ key decision makers
Proactively finds and unlocks attractive
investment opportunities for leading investors
Annual NOAH Conference in its 8th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
25+ successfully completed NOAH Advisors transactions
underline successful transfer of M&A competencies to
the Internet sector
Entrepreneurial mind-set, focused on growing the
business and establishing a reputation for excellence
Ability to deliver top results in short time frames
Highly success-based compensation structures align
interests of clients and NOAH Advisors, and demonstrate
conviction to deliver top results
Creative deal solutions
December 2014
October 2014 May 2014
Sale of 100% of
for $800m to
Exclusive Financial Advisor to
Fotolia and the Selling Shareholders
Sale of 100% of
for €80m to
Exclusive Financial Advisor to
Trovit and its Shareholders
sold 100% of
for $228m to a joint venture between
Exclusive Financial Advisor to Yad2
and its Shareholders
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE
October 2016
July 2018
December 2016
®
The NOAH Advisors Core Banking Team
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
Exclusive Financial Advisor to
PromoFarma and its shareholders
Financial Advisor to Silver Lake
Investment in
by
September 2018
August 2017
Financial Advisor to 10bis and its shareholders
Financial Advisor to EMK Capital
Acquisition of a Majority Stake in
by
at a valuation of $200m
Marco Rodzynek
Managing Director & Founder
Jan Brandes
Managing Director
Nikhil Parmar
Director
Olek Skwarczek
Analyst
Lukas Schlund
Analyst
Sale of 100% in
to
Sale of 100% in
for €135m to
10Bis