EduTech: Company presentation by Arndt Kwiatkowski, Bettermarks at the NOAH Conference Berlin 2019, 13-14 June - STATION.

1. TECHNOLOGY LEADER IN
ADAPTIVE LEARNING FOR MATHS

2.  @NOAHConference
 @noah_conference
 @noah-conference
 @NOAHConference
FOLLOW USONSOCIAL

3. DETERIORATION IN SCHOOL SYSTEMS
UNSATISFACTORY OUTCOMES
18% of 15-year-old students are at “risk” in
Germany (maths competencies at a level of
primary school, grade 4).
Source: PISA 2012, Prenzel
LACK OF QUALIFIED TEACHERS
More than half of maths teachers are
expected to be retired by 2025 in Germany,
resulting in a shortage of teaching
personnel.
Source: Deutsche Telekom Stiftung, Klemm
GROWING COSTS
90% of expenditures in education are
personnel costs (salaries and pension).Source: U.S. Department of Education 1, 2
18% at risk 50% retired90%
for personal costs

4. 3
VISION
bettermarks is the next
generation teaching and learning
material for maths and sciences.

5. 1. COMPLETE CONTENT COVERAGE 2. APPLYING MATHS SKILLS 3. REAL-TIME FEEDBACK
+100,000 questions Over 100 interactions tools Mistakes turn into “Aha!” moments
BEST TO SUPPORT STUDENT LEARNING

6. 5

7. 6
EFFICACY SCIENTIFICALLY PROVEN
»Students who used bettermarks
between 2014 and 2016 had 10%
better learning outcomes in maths
than those who did not. 30%
increase for students within lower
social economic environments.«
Government of Uruguay

8. ADDRESSABLE MARKET 2030
North and South
America
140m students
European Union
60m students
Non-EU Europe
and Turkey
30m students
Africa’s first moving
countries
50m students
total of 300m students of which 70% will use digital learning material
200m students with a value of $ 20 revenue each
(50% for content providers / 50% for distributors; $ 5 for bettermarks’ maths)
$ 1 Billion p.a. math content alone
Better equipped
Indian schools
20m students

9. GERMANY
60k students
per week
URUGUAY
50k students
per week SOUTH AFRICA
Macmillan
INTERNATIONAL
SCHOOLS
Macmillan
MEXICO
Castillo
USA
New Classrooms
Roll out
Pilot
PERU
Government
ARGENTINA
Government
AUSTRIA
Government
13M EXERCISES CALCULATED PER MONTH
NETHERLANDS
12k students
per week

10. EXCELLENT POSITION TO SCALE
GOVERNMENTS ARE STARTING TO INVEST IN DIGITALIZATION OF THE SCHOOL SYSTEMS
• There is no time- and cost-efficient alternative to lift student outcomes on a broad scale and to
support teachers in managing heterogeneity in the classrooms.
• Bettermarks offers leading technology and proven efficacy for »next generation school
books«.
• Bettermarks platform and processes enable an efficient cooperation with local partners for
localization and roll out.

11. » Investment of almost €30 million
» Expected revenues: 3m in 2020, 16m in 2024
» Cash positive 2020/2021
» SaaS margins (retention rate of schools and partners > 90%)
FINANCIALS

12. 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 10th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
30 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
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE®
The NOAH Advisors Core Banking Team
Marco Rodzynek
Managing Director & Founder
Jan Brandes
Managing Director
Nikhil Parmar
Director
Olek Skwarczek
Associate
Lukas Schlund
Analyst
December 2014 October 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
October 2016
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
December 2016
August 2017
Financial Advisor to Silver Lake
Financial Advisor to EMK Capital
Investment in
Acquisition of a Majority Stake in
by
by
at a valuation of $200m
November 2019 July 2019
September 2018
Financial Advisor to MagicLab
Financial Advisor to AU10TIX
and its shareholders
Financial Advisor to 10bis
and its shareholders
Acquisition of a 79% stake in $60m Investment in
Sale of 100% in
by
at a valuation of ~$3 billion
at a valuation of $260m by
for €135m to
10Bis