#1CLARK Digital is our policy Dokumame 0,00€ 3 IDEV 25.63€ 362 Me#2The insurance brokerage market is at a tipping point and ripe for disruption DISRUPTED DISRUPTOR VALUATION¹ GERMAN TAM CLASSIFIEDS HOSPITALITY fi SCOUT 24 €8bn Hilton Frommers airbnb €17bn €1bn² €16bn³ MUSIC Spotify MOBILITY €2bn4 Uber €46bn €53bn €19bn5 MOVIES NETFLIX P RETAIL €2bn6 Office DEPOT Walmart > amazon €202bn €1,492bn €73bn7 INSURANCE BROKERAGE MARSHEMOLENNAN COMPANIES MLP AON CLARK €17bn8 CLARK 2 Source: Factset as of August 31, 2020; Market capitalization/latest post money valuation of disruptor companies shown Statista forecasted 2020 revenues in the German market for the respective industries Online Classes Travel and Tourism Music Mobility Services Video on demand Online Retail Broker commissions as a % from OECO valve calculated as broker commission percentage from OECD GWP from Fitch solutions#3CLARK is addressing a massive TAM......where every 1% market share gain delivers tremendous value TAM® (Cbn) - Broker fees -C6B -C38 -€188 -C88 > 20% of total Western European commissions concentrated in current CLARK markets CLARK Note: Only existing markets, froker commissions as a % from OECD value calculated as broker commission percentage from OECD GWP from Fitch solutions -20 1% = -200 -45% = -90 -20-30x -€1.8-2.7bn Incremental market share increase Revenue (Emm) EBITDA margin(medium term target) EBITDA (€mm) "Tech led" valuation multiple Value creation potential in current markets Additional value creation -€6.0-9.0bn potential in other focus European markets Represents only a 1% market share 3#4In just 5 years of operations, CLARK has become best known pure-play German insurance broker and digital insurance company Aided Brand Awareness (%, representative of German population) 15% CLARK Driven by well recognised parent brand Germany's largest insurance broker 49 8% MLP Years in operation 20% 163 Traditional players (providing additional services such as finance and investments) 66 9% DR. KLEIN 50 7% Al OVB CLARK Note: Data source representative market research conducted by YouGov for CLARK Ranked by revenue 28 3% Positioning as relatable and modern customer brand 11% Differentiated campaigns use slight humour and irony to appeal to target segment More efficient and effective use of marketing investments versus traditional players CLARK is well ahead of other pure play digital insurance companies 7% FRI:DAY ottonova 2% 2% Lemonade wefox 4#5CLARK is offering a digital one-stop shop brokerage service Consumer manages existing or purchases new policies through CLARK CLARK receives a one-off sales fee¹ and/or a recurring management fee Consumer pays the insurance premium to the carrier What we are A tech-led service provider disrupting the way insurance is sold and consumed A broker, acting as the advisor to consumers for their insurance needs A marketplace consisting of 160+ insurance carriers across the full insurance policy spectrum 42% of revenue corresponds to recurring fees Allianz RHV ERGO Pool of 160+ carriers What we are not A balance sheet heavy insurance carrier holding underwriting risk An insurance agent tied to a specific carrier or limited to a particular type of insurance segment A distribution channel for carriers or other brokers CLARK Note: Includes the one off commissions for selling a new Life or Health policy includes the recuning fee for managing the admin of sold policies and commissions received from selling a new P&C policy. As of FY20#6CLARK is upending the outdated insurance industry with a tech driven, holistic, customer centric approach Traditional Players • Incumbents maintain a large sales force • Struggle with digitalization and getting to scale OFFLINE Mass-Sale Brokers¹ . Focus on a mass market approach • Aim for conversion independent of individual need Stale experience Bancassurance, Agents & Offine Brokers RED OCEAN Limited differentiation Mass/Tele-Sale Brokers MLP DR.KLEIN -Allianz CUSTOMER- FOCUSED OVB CLARK BLUE OCEAN PRODUCT- FOCUSED ottonove TuFielmann CHECK FRIDAY MediaMast Lemonade Walmart High value add, high margin WRONG OCEAN to the bottom PCWS, Digital Carriers, etc. CLARK Note: The select group of companies sell insurance policies on a transactional basis merely to complement the core product/services they are offering to customers CLARK • Tailored 360 degree advice offered at scale Full breadth of policies on offer: P&C, life and health End-to-end online journeys ONLINE Digital Platforms One-size-fits-all-approach competing on price • Primarily focused on lower margin P&C contracts 5#7Without CLARK Inefficient | Inaccessible | Low satisfaction | Too much paperwork PAC insurance What insurance do I need? insurance Trust Pilot Scores Allianz 1.3 broker 1.3 CLARK Note: As of 20-Aug-20 How much coverage do I already have? Amig much Can I trust my agent? hita good advisor? information flow MLP 2.8 Traditional players င္း}} much repetitive paper work insurance Lemonade 3.4 insurance broker ottonova 3.9 Digital platforms With CLARK Your trusted insurance robo-advisor Quick and efficient, CLARK provides tailored advice and ensures that customers are optimally insured CLARKO- Sales fee on each sale and management fee for each renewed policy Information exchange with carriers Trust Pilot Score 4.6 7#8Simplified overview with instant insurance scoring Comprehensive overview of customers' insurance situation Empfohlen für Dich 000 Customized comparison of owned insurance products against the customer's life situation to assess coverage needs insurance contracts are instantly scored based on CLARK's quality standards to provide customers with immediate feedback on their contracts Profile-based insurance needs assessment CLARK 1-Click-Buying in the app Tailored recommendations to improve current coverage Curated pre-selection of top 3 most relevant offers (value for money, recommendation, top quality based on customers' questionnaire responses Fully digital ordering of desired contracts within seconds Access to experts via in-app chat CLARK's insurance experts are available to their customers via a WhatsApp-style messenger to provide seamless customer service Customer support can as well be reached via phone and mail 8#9Unique combination of custom built robo-advisor and independent expert advice satisfies all insurance needs Robo-advice D Transparent and independent optimal price- to-quality comparison software Recommended policies to fill user's insurance gaps through robo-advice CLARK Expert advice Doc Professional experts at hand to provide the customer with tailored personal advice driving sales of higher margin life and health products Support customer in raising and managing insurance claims 9#10Experienced and credible founder-led management team, partnering with thought leading investors is a powerful recipe for over achievement Dr. Christopher Oster CO-FOUNDER & CEO WIMDU BCG • Formerly COO/Co-Founder of Wimdu (online travel company, €100M in revenue and managed more than 300K listings worldwide) . 5 years of experience as Business Consultant at BCG with a focus on restructuring & strategy development for financial institutions PORTAGE Steffen Glomb CO-FOUNDER & CTO Supported by a professional and active board WHITE STAR finleap CLARK vodafone SIEMENS •15+ years of experience as independent IT consultant with projects ranging from development management to business analytics • Managed 170 developers with stakeholders across 3 continents as Product Development Director at leading ERP provider ShipNet yabeo Dr. Marco Adelt CO-FOUNDER & COO HORVÁTH & PARTNERS 20+ years of experience in the insurance industry in various positions • Managed 50+ projects as management consultant in the European insurance industry • Hands-on experience as offline insurance broker Chris Lodde CO-FOUNDER & CMO Sex Cam P COMMERZBANK ( • Formerly Vice President Digital Banking & Sales at Commerzbank (relaunched website & app, managing a team of >80 members) . Executive Advisor (Digital Marketing & Sales) at Miami-based private equity firm Sun Capital Partners Led 30 projects as Senior Manager at strategy consulting firm SMP AG Loyal employees with exceptionally strong turnover 1.2% churn¹ 10#11CLARK's innovative business model has been widely recognized DIGITAL TOP 50 Awarded in category "S2C Startup" by Google, Rocket internet and McKinsey KPMG Listed under "Top 100 Fintech Hundert Listed under "Top 100 most innovative CLARK 90 Named as the most innovative Startup by Publicato DIAMONDSTAR GOLDEN CARAGE "InsurTec EU-Startups Listed under German Capital RED HERRING Listed under the "Top 100 Technology Startups from Europe Bloomberg Listed under 50 Most Promising Startups You've Never Heard Of GRUNDERSZENE Awards Named as fastest growing digital company in Germany by Google and Soddeutsche Zeitung 11#12Clark pitch deck Clark CLARK