1) Karstadt Warenhaus GmbH plans to transform into the leading multi-channel, multi-format retail platform in Europe through acquisitions and expanding its online presence. 2) Karstadt acquired a majority stake in the online marketplace hood.de to boost its digital offerings and launch an online marketplace. 3) Karstadt will integrate online retailers into its online and physical stores to create a "Marketplace of Tomorrow" and redefine multi-channel retail.

1. Karstadt Warenhaus GmbH
MARKETPLACE OF TOMORROW
Dr. Stephan Fanderl / CEO
June 2017

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3. 2
SIGNA RETAIL will become the leading multi-channel /
multi-format retail platform in Europe
Platform strategy – Guiding principles
Unique locations and unique reach
Independent legal entities
Independent top management
Sector focus
Multiple revenue generation models
Depart-
ment
Stores
Sports
Luxury
Food &
Restau-
rants
Mobile
Stores
Off-Price
Online
Platforms
Channels
Themes

4. 3
Karstadt and SIGNA acquire majority stake in the booming online
marketplace hood.de
• Major step for Karstadt toward the digital
marketplace –
Karstadt will open up for third party offers
• With 5 million items on offer and 7 million
customers, hood.de is one of the strongest
growing marketplaces in Germany
• karstadt.de receives a technology and innovation
boost to drive digital development
• Establishment of Karstadt Marktplatz GmbH

5. 4
Modular concept
1 Main store 2
Supplement of
other stores
3 Online only
Offline only4
1 Main store as a base – at least the main
store’s product range is shown for all
categories
2 Supplement of other stores – additional
category-specific product ranges of other
stores are shown online
3 Online only – certain product ranges are
shown online only but not sold in stores
4 Offline only – certain product ranges are
shown online only but traded offline
exclusively
Total volume of additional items:
250.000
ONLINE PRODUCT RANGE
karstadt.de own buy development

6. 5
“Marketplace of Tomorrow”: Integration of online pure plays into Karstadt online and
offline marketplace – new definition of multi-channel retailing and asset utilization
Marketplace of Tomorrow
KARSTADT as
an online marketplace
B
ONLINE PRODUCT
RANGES MADE
AVAILABLE OFFLINE
BETTER ONLINE
REPRESENTATION OF
OFFLINE PRODUCT
RANGES
KARSTADT as an
offline marketplace
A
KARSTADT as the
“Marketplace of Tomorrow”
=
MARKETPLACE
OF
TOMORROW
SportsFashion
Luggage
Kids Beauty
Home
* *
*
*
*
* *

7. The marketplace concept is also mirrored online by listing partner products on
karstadt.de as well as listing the Karstadt product range on external marketplaces
PROMOTION OF
KARSTADT PRODUCT
RANGE ON EXTERNAL
MARKETPLACES
Online
Marketplace
KARSTADT.de
BEST IN CLASS
PRESENTATION
OF OFFLINE
PRODUCT
RANGE ONLINE
ON KARSTADT.DE
PRODUCT RANGES OF
ONLINE PURE PLAYS
WILL BE AVAILABLE ON
KARSTADT.DE IN
ADDITION TO THEIR
PRESENCE IN OFFLINE
STORES
B
Marketplace of Tomorrow – Online

8. Best of both worlds: The “Marketplace of Tomorrow” offers its customers a true
multi-channel experience by closely interlacing online and offline retail
24 H SHOPPING
CLICK & COLLECT AT KARSTADT STORES
TRY ON AND SEND BACK IMMEDIATELY IN STORES
ONLINE PRODUCT RANGES MADE AVAILABLE OFFLINE
NEW TOUCHPOINTS WITH CUSTOMERS
ELIMINATION OF ROADBLOCKS
Unlimited opening hours
No more waiting in line
Smell
Touch
Personal support
TRADITIONAL DELIVERY
Printing of return notes
No more carrying of heavy parcels
Experience
No more out of stocks
Wrapping and boxing material on site
Independence from opening hours
One-stop shop for all parcels from partner shops
Flexibility
Offline communication of online offers
=
Marketplace of Tomorrow – Unique Service Offering

9. 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
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
December 2014
September 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
Sale of controlling stake in
to
Exclusive Financial Advisor to
Facile.it 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
September 2016
October 2016December 2016
May 2016
Investment in
by
Financial Advisor to Oakley Capital Exclusive Financial Advisor to
10Bis and its Shareholders
®
Marco Rodzynek
Managing Director & Founder
marco.rodzynek@noah-advisors.com
Jan Brandes
Managing Director
jan.brandes@noah-advisors.com
Justus Lumpe
Managing Director
justus.lumpe@noah-advisors.com
The NOAH Advisors Core Banking Team
Nikhil Parmar
Director
nikhil.parmar@noah-advisors.com
10Bis
Acquisition of a Majority Stake in
by
from
at a valuation of €300m
Investment in
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and its Shareholders
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84% Ownership
Financial Advisor to Silver Lake
Investment in
by