Several new technologies are changing the world economy, and Europe is having trouble keeping up with this process of change towards a new economy. Why is Europe lagging behind? What are the opportunities? And what could be the big surprises? A macroeconomic perspective gives us some reference points in the strange new world that we’re entering. We’ll conclude the presentation with some thoughts on the Belgian economy and link these to Xylos’ business and clients. Speaker: Geert Noels, economist, founder and CEO of asset management company Econopolis and Siddy Jobe, Portfolio Manager at Econopolis Exponential Technologies.

1. ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Geert Noels - Founder & CEO Econopolis
Siddy Jobe - Portfolio Manager Exponential Technologies
Xylos Inspire
Everything will be technology!
Not for Retail distribution: this document is intended exclusively for Professional, Institutional, Qualified or Wholesale Investors / Clients, as defined by applicable local laws and regulation. Circulation must be restricted accordingly.

2. Agenda
E X P O N E N T I A L T E C H N O L O G I E S
‣ People think linear, exponential thinking is not human
‣ All sectors will become technological
‣ “What if Google enters your market?”
‣ Don’t digitize old business models
‣ First mover disadvantages
‣ … be a smart follower than a revolutionary innovator!

3. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
The Legend Of The Persian King
E X P O N E N T I A L T E C H N O L O G I E S
3
Exponential growth initially look like nothing is happening, and then suddenly you get this explosion at the end

4. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
The Long Nose of Innovation - Human Computer interaction
E X P O N E N T I A L T E C H N O L O G I E S
4
Innovation Refinement & improvement Traction
Progress Below The Radar = Incremental Innovation
Growthofatechnologicalinnovation
Time
Progress Above The Radar = Exponential Innovation
Voice -
Amazon Alexa
Gesture -
Magic Leap
Computer Vision -
AI/ML

5. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Every 10 Years, A New Computing Cycle Emerges
E X P O N E N T I A L T E C H N O L O G I E S
5 Source: Morgan Stanley Research
/ 5G

6. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Exponential Technology Trends Driving Change
E X P O N E N T I A L T E C H N O L O G I E S
TECH TITANS
ARTIFICIAL
INTELLIGENCE
CLOUD KINGS
ROBOTICS
AUTONOMOUS
VEHICLES
SOFTWARE FACTORY
INTERNET OF
THINGS
E-COMMERCE GAMING
CYBER SECURITY 5G
DIGITAL PAYMENTS …
HEALTHCARE
TECH
SEMICONDUCTOR
STARS
6

8. Agenda
E X P O N E N T I A L T E C H N O L O G I E S
‣ People think linear, exponential thinking is not human
‣ All sectors will become technological
‣ “What if Google enters your market?”
‣ Don’t digitize old business models
‣ First mover disadvantages
‣ … be a smart follower than a revolutionary innovator!

9. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Technology Is Often Seen As Something For “Techsectors”
E X P O N E N T I A L T E C H N O L O G I E S
9

10. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
What Stages Are Industries At In Digitalisation?
E X P O N E N T I A L T E C H N O L O G I E S
10

11. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
All Sectors Will Become Technological
E X P O N E N T I A L T E C H N O L O G I E S
11
Creative Destruction The Innovator Dilemma

12. Agenda
E X P O N E N T I A L T E C H N O L O G I E S
‣ People think linear, exponential thinking is not human
‣ All sectors will become technological
‣ “What if Google enters your market?”
‣ Don’t digitize old business models
‣ First mover disadvantages
‣ … be a smart follower than a revolutionary innovator!

13. ‣ “What if FANG enters your market?”
‣

16. ‣ Agendapunt 1
‣ Agendapunt 2
‣ Agendapunt 3
‣ …
EUROPE US TECHNOLOGY
x5
0
Technology is not a bubble!
ZEEP
BEL

17. Agenda
E X P O N E N T I A L T E C H N O L O G I E S
‣ People think linear, exponential thinking is not human
‣ All sectors will become technological
‣ “What if Google enters your market?”
‣ Don’t digitize old business models
‣ First mover disadvantages
‣ … be a smart follower than a revolutionary innovator!

18. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Where To Start?
E X P O N E N T I A L T E C H N O L O G I E S
18

19. You know your business? NO
SELL YOUR
COMPANY ASAP
Take Value from
above
Take blanco sheet
YES

20. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
… but figure out how your clients would love a new
digital player to be!
E X P O N E N T I A L T E C H N O L O G I E S
20

21. You know your business? NO
YES
SELL YOUR
COMPANY ASAP
Take Value from
above
Take blanco sheet
How would Google start
in your business?
Impossible
SELL YOUR
COMPANY ASAP
Take Value from
above
Take blanco sheet
YES

22. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
22 Voetnoot bv. contributies in EUR (inclusief dividenden & coupons), contributie = rendement (EUR) x gemiddeld gewicht
Titel
T I T E L P R E S E N T A T I E O F H O O F D S T U K

23. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
The amount of data created is growing exponentially
E X P O N E N T I A L T E C H N O L O G I E S
23

24. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Bringing Exponential Technologies In Your Company
E X P O N E N T I A L T E C H N O L O G I E S
24
PeopleBusinessTechnology
Emerging technologies like AI and IoT, as well as
foundational technologies like data management
and analytics.
The right business strategy can drive the digitization of
internal processes and the development of new business
models.
Hiring talent is just the start. Organizational structure and
culture are equally important in successful transformation
projects.
Skills
Organizational Structure & Culture
Create an ecosystem
Internal processes
Business models
Strategy and customer experience

25. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Elevators are the most frequently used mode of transport
E X P O N E N T I A L T E C H N O L O G I E S
Over 12 million elevators are in operation
around the globe, which move over
a billion people each day.
Artificial intelligence, connected systems, and
smart city initiatives will lead to more
out-of-the-box technological
innovation.

26. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
Exponential Technology Farms
E X P O N E N T I A L T E C H N O L O G I E S
26
Weeding Robots Machine Navigation Harvesting Robotics Material Handling
Remote Sensing Remote Sensing Grape Picking
Agriculture implements IoT through use of robots, drones, sensors and computer imaging
integrated with analytical tools for getting insights and monitor the farms. Placement of
physical equipment on the farms monitors and records data which is used to get insights.
Efficiency,
productivity &
sustainability

27. K W A R T A A L M E E T I N G
ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED
1. Manufacturing
2. Energy and utilities
3. Agriculture
4. Retail
5. Financial services
6. Media and entertainment
7. Healthcare
8. Transportation
9. AR/VR
10. Insurance
Brainstorm: How Will 5G Impact Your Business
E X P O N E N T I A L T E C H N O L O G I E S
27
10 industries that 5G will impact the most
Ultra-low latency
As low as 1ms
Ultra-high density
1 million nodes/km2
Extreme data rates
Multi-Gbps peak rates Strong security
e.g. health/governmen t/financieals
Ultra-low energy
+10 years of battery life
Deep coverage
To reach challenging locations
Extra capacity
10 TBPS /km2
Shared spectrum
extend 5G into a wider range of deployments

28. Agenda
E X P O N E N T I A L T E C H N O L O G I E S
‣ People think linear, exponential thinking is not human
‣ All sectors will become technological
‣ “What if Google enters your market?”
‣ Don’t digitize old business models
‣ First mover disadvantages
‣ … be a smart follower than a revolutionary innovator!

29. ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED 29
First movers and innovators are fantastic for
society….
NICK HOLONYAKNIKOLA TESLA INGRID DAUBECHIES
…however first movers rarely achieve financial
and economic success.

30. ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED 30
•Free riding on customers by followers.
•Innovation costs exceed financial capabilities of start-ups…
•…and can be acquired cheaply after distressed take-over
•Followers can copy a lot from first mover
•First movers can never have everything right:
product,market, pricing, marketing, production…
…first mover disadvantages
Google Microsoft Apple Samsung Studio100
Starbucks Pepsi

31. ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED 31
Smart Followers Achieve More Economic Success

32. ONLY FOR PROFESSIONAL INVESTORS. ©2019 ECONOPOLIS WEALTH MANAGEMENT NV. ALL RIGHTS RESERVED 32
Be a smart follower
Be a smart copier

33. Agenda
E X P O N E N T I A L T E C H N O L O G I E S
‣ People think linear, exponential thinking is not human
‣ All sectors will become technological
‣ “What if Google enters your market?”
‣ Don’t digitize old business models
‣ First mover disadvantages
‣ … be a smart follower than a revolutionary innovator!

34. Deze presentatie werd met de beste zorgen opgesteld door Econopolis Wealth Management NV (« Econopolis ») op basis van de meest recente
beschikbare informatie ontvangen van derde partijen zoals depositarissen en externe dataleveranciers. Hoewel Econopolis deze partijen
betrouwbaar acht, kan zij niet verantwoordelijk gesteld worden voor de juistheid of volledigheid van deze informatie.
Econopolis heeft ervoor geopteerd de informatie op een zo toegankelijk mogelijke manier te presenteren. De geschatte waarde van effecten kan
afwijken van de realisatiewaarde.
De resultaten van de weergegeven financiële instrumenten en financiële indices zijn resultaten behaald in het verleden en vormen als zodanig geen
betrouwbare indicator voor toekomstige resultaten. Indien de resultaten van de weergegeven financiële instrumenten en financiële indices uitgedrukt
zijn in een andere valuta dan EUR, kan het rendement door valutaschommelingen hoger of lager uitvallen.
Deze presentatie dient enkel ter weergave van de gebeurtenissen in de door Econopolis beheerde portefeuille van de client en is als dusdanig geen
beleggingsadvies, noch -voorstel.
Beleggers die alsnog overwegen om in te schrijven op het/de Financiële Instrument(en) moeten de meest recente versie van het prospectus, de
Essentiële beleggersinformatie of ander informatiemateriaal aandachtig lezen en de meest recente financiële verslagen van het/de desbetreffende
Financiële Instrument(en) raadplegen. Het prospectus, de Essentiële beleggersinformatie en de meest recente financiële verslagen of andere
informatie van het/de Financiële instrument(en) zijn gratis beschikbaar bij Econopolis of bij de financiële bemiddelaars die instaan voor de
verhandeling van die Financiële Instrument(en).
Niets in dit document mag gereproduceerd worden zonder de voorafgaande uitdrukkelijke en schriftelijke toestemming van Econopolis. Deze
informatie is onderworpen aan het Belgisch recht en aan de uitsluitende rechtsmacht van de Belgische rechtbanken.
D I S C L A I M E R