#1TeamViewer New Available Q3 Investor Presentation November 2019#2Important Notice This presentation as well as any information communicated in connection therewith (the "Presentation") contains information regarding TeamViewer AG (the "Company") and its subsidiaries (the Company, together with its subsidiaries, "TeamViewer"). It is being provided for informational purposes only and should not be relied on for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. Certain statements in this presentation may constitute forward looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer's disclosures. You should not rely on these forward-looking statements as predictions of future events and we undertake no obligation to update or revise these statements. Our actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels. This presentation may include supplemental financial measures-not clearly defined in the applicable financial reporting framework-that are or may be alternative performance measures (non-IFRS measures). TeamViewer's financial position, financial performance and cash flows should not be assessed solely based on these alternative supplemental financial measures. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the applicable financial reporting framework. The calculation by other companies that report or describe similarly titled alternative performance measures may vary despite the use of the same or similar terminology. The Company undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward- looking statements attributable to it or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this Presentation. TeamViewer 2#3Introduction To TeamViewer PLATFORM Business critical connectivity platform • ~100% SaaS (software as a service) business model • ~340m annually active devices (1) • Net revenue retention rate 103% 2019 (3) GLOBAL • ~€10bn global TAM as of 2018 • Active in ~180 countries • >800 employees across 15 offices • Worldwide network with >1,000 routers across 81 locations • STRONG GROWTH Accelerating billings growth >45% YoY (2) • 24% TAM (total addressable market) growth from 2018-2023 • Expanding use cases Multiple levers for growth . ATTRACTIVE ECONOMICS No geographic, customer or vertical concentration • >430k subscriptions (2) • Scalable with gross profit margin >90% (3) and CLTV/CAC >30x (4) • . HIGHLY PROFITABLE Cash conversion >90% (5) EBITDA margin >50% (4) 1. A device which reported any activity type within 12 months 2. 9M 2019; growth YoY 3. LTM Q3 2019; gross profit margin excluding D&A and non-recurring COGS; Net revenue retention rate = 1 - net value churn (gross value churn - expansion); gross value churn as billings lost from customers that had an invoice in LTM-1 but not in LTM 4. FY 2018; CLTV, the expected customer lifetime value, defined as (annual recurring billings (ARB) per customer * gross margin) / gross value churn; CAC, the customer acquisition cost, defined as sales & marketing costs / # new customers 5. Illustrative pre-tax operating cash flow defined as cash EBITDA - capex - change in net working capital; conversion defined as illustrative pre-tax operating cash flow/cash EBITDA TeamViewer 3#4Business Update: We Are On Track To Deliver On Our Commitment M P Continuous Growth Momentum Q3 shows 63% YoY billings growth 103% NRR 2019 provides clear visibility for future growth ✓ >430k subscriptions in total reached end of Q3 2019 Successful Enterprise Launch Enterprise customers exceeding 10k ACV grew by 60% YoY Net increase of 72 customers exceeding 10k compared to previous quarter Geographic Expansion +41% 9M 2019 YOY growth in EMEA Continued penetration in Americas (+60% 9M billings YoY growth) Continued investments and sales force expansion, particularly in APAC Use Case Innovation Important product updates, including Pilot 2.0 Setting up R&D office in Greece has started Sustained exceptional Profitability and Cash flows 10% points margin increase vs. Q3 2018 / 3% points margin increase vs. 9M 2018 ✓ Relatively stable cost base on absolute level allows for scale effects ✓ FCF Conversion of 92% TeamViewer 4#5Continuous Growth in Enterprise Segment Customers With ACV(1) Above €10k (any product) 369 Q3 18 1. ACV: Annual Contract Value +60% 518 468 419 Top 3 Deals in Q3 2019 590 1) Pharmaceuticals: €252k (Renewal) 2) Automotive: €114k (Upsell) 3) Technology: €79k (New Sales) Q4 18 Q1 19 Q2 19 Q3 19 TeamViewer 5#6Overview of Key Performance Indicators - Q3 2019 $ Billings (€m) Cash EBITDA (Єm) 51 Q3 2018 155 63% Growth 83 56% 46% 95% Growth 46 24 Q3 2019 Q3 2018 45% Growth 224 Q3 2019 53% 50% 54% Growth 120 78 9M 2018 9M 2019 9M 2018 9M 2019 Cash EBITDA Margin TeamViewer 6#7TeamViewer Financial Update New Available#8Q3 2019 Billings Update Billings (€m) 155 45% Growth 224 9M 2018 9M 2019 63% Growth 83 51 Q3 2018 Completed Subscription Transition Strong Renewals Dynamics NRR 103% 9M 2019 Continued New Sales Momentum Q3 2019 High Visibility on 2019E Given Q4 Renewals TeamViewer 8#9Q3 2019 Regional Billings Update Billings (€m) +45% 224 31 155 77 24 48 116 +63% 83 51 82 5722 11 36 20 23 36 9M 2018 9M 2019 Q3 2018 Q3 2019 EMEA AMERICAS APAC EMEA +41% AMS APAC +60% +30% EMEA +54% AMS +75% APAC +55% TeamViewer 9#10Cash EBITDA 9M Q3 2019 Illustrative Cash EBITDA 9M 2019 (€m) FYE, 31-Dec 9M 2018A 9M 2019A Q3 2018A Q3 2019A I Billings 155 224 51 83 Cost of Sales (16) (17) (6) (6) Scaling of customer support and infrastructure cost for Router & Server plus IFRS 16 impact % of Billings 10% 8% 11% 8% 1 I Gross Margin 90% 92% 89% 92% Sales (20) (28) I (7) % of Billings 13% 13% (10) 12% Efficient GTM model with highly efficient sales force Marketing (12) (16) % of Billings 8% R&D (15) (21) (5) % of Billings 10% 9% G&A (1) (14) (23) (5) % of Billings Cash EBITDA 9% 10% 10% 7% 14% (4) 8% 11% (5) 6% (7) 8% (9) 11% Very low CAC driven by Virality and strong Brand Customer-centric and scalable product development Continued Investments in infrastructure and security 78 120 24 46 % Margin 50% 53% 46% 56% 1. G&A includes other income, other expenses and bad debt expenses TeamViewer 10#11Free Cash Flow Illustrative FCF (€m) Q3 2018A Q3 2019A Cash EBITDA 23.6 46.0 Change in Net Working Capital (0.5) 2.0 Capitalised operating leases from IFRS 16 amount to ~€1 in Q3 2019 Capex (3.4) (0.2)* Pre-Tax FCF 19.7 47.8 % Cash Conversion 83% 104% 9M 2018A 9M 2019A 77.7 119.6 Capex for FY 2019 expected to amount to €10-15m compared to €11m in FY 2018 Cash EBITDA Change in Net Working Capital 2.3 (1.8) 2020 Capex broadly in line with 2019. Thereafter mid-single digit amount. Capex (8.4) (8.1)* Pre-Tax FCF 71.6 109.6 % Cash Conversion 92% 92% *NAL capex (€1.3m) not yet included →TeamViewer 11#12Leverage Overview of Current Capital Structure (€m) FY 18 LTM Q3 19 Cash And Cash Equivalents (81) (27) Financial Debt 676 621 Refinancing in September with 613m nominal debt (USD, EUR and GBP) and 4.2% weighted interest Capitalised operating leases from IFRS 16 amount to ~€8m in 2019 Clear deleveraging target to ~3.0x Net Debt / Cash EBITDA by FYE 2019 Net Financial Debt 595 595 × Net Debt/Cash EBITDA 4.9 x 3.7x Aiming to reduce leverage to <2.0x by 2020 TeamViewer 12#13Deferred Revenue Deferred Revenue (Єm) FYE, 31-Dec 2016A 2017A Billings 177 185 2018A 230 2018 9M 2019 9M 155 224 A Deferred Revenue - Perpetual (74) (11) 92 56 96 A Deferred Revenue - Subscription (8) (30) (64) (35) A Deferred Revenue - Unallocated (4) (5) 0 0 0 Revenues 92 138 258 175 283 Billings reflect invoiced amounts in any given period For IFRS purposes billings are recognized as revenue over time Historical perpetual licenses were recognized over 3 and 4 years vs. 12- months rolling for subscription licenses Q3 2019: Higher revenues than billings in Q3 and 9M due to significant releases of old perpetual licenses that overcompensates addition to deferred revenue from subscription billings FY 2016 FY 2017 FY 2018 9M 2018 9M 2019 -Revenue Billings Revenue in 2019 will be significantly higher than billings due to release of perpetual deferred revenue; Full-year guidance is €386 – 391m revenues As the transition to subscription was fully completed in Q3 2018 and the vast majority of perpetual revenues is recognized by year-end 2020, the effect will reverse and billings will exceed revenue in the medium term (revenue expected to be ~90% of billings in the medium term) TeamViewer 13#14Specific Accounting Topics Specific Accounting topics (€m) 9M 2019A (27) IFRS 2 charge relates to incentive structure put in place and fully financed by selling shareholder No dilution and no cash impact Counter-position directly booked into equity For more details, see IPO prospectus Q3 2019A IFRS 2 (26) IPO-related charges (8) (8) IPO employee bonus payment (7) Other IPO related cost (1) (1) GDPR projects (0) (1) Other non-recurring items (4) Total (38) (43) Deferred tax income 59 59 (interest carry forward) IPO-related charges: One-off bonus paid to all employees and thus eliminated for Cash EBITDA; cash impact Other IPO cost: one-off cost that are not reimbursed by the selling shareholder TeamViewer 14#15Well On Track To Achieve 2019 Guidance For Billings ... Billings (€m) FY 2019E: €310-320m (+35-39% vs. FY 2018A) LTM Sep-2019A: €300m 33% ' Key Developments in Q3 2019 Strong operating momentum continued since H1, billings significantly ahead of prior year 24% 22% 21% 75 55 55 1 18 12 12 Q1 2018 322 13 48 21 7 51 18 2 18 26 7 9 29%(1) 26% 23% 22% 85-95 83 73 69 1 1 28 21 26 4 8 4 50 37 39 42 11 15 Q2 2018 Q3 2018 Renewal Q4 2018 Migration Q1 2019 New Sales (sub) Q2 2019 Perpetual Q3 2019 Q4 2019 % of Annual Billings 1. Based on the mid-point of the FY2019 guidance, i.e. €315m Billings FY2019 TeamViewer 15#16And Cash EBITDA Cash EBITDA (Em) FY2019: €177-183m LTM: €163m Strong operating momentum continued since H1, Cash EBITDA significantly ahead of prior year Key Developments in Q3 2019 Strong increase of Cash EBITDA margin, 56% in Q3 2019 vs 46% in Q3 2018 Cash EBITDA expected to continue to reflect seasonality, with majority of billings realized in Q4 61% 43% 46% 57% 55% 49% 36% 56% >60% 33%(¹) 28% 26% 21% 20% 20% 17% 57-63 43 46 38 36 33 21 24 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 % of Annual Cash EBITDA Cash EBITDA Margin 1. Based on the mid-point of the FY2019 guidance, i.e. €180m Cash EBITDA FY2019 TeamViewer 16#17FY 2019 KPI Guidance Fully Confirmed Billings FY 2018 Billings b €230m % Y-o-y Growth Renewal (Net Retention) Revenue FY 2019 €310-320m +25% 35-39% growth Over 100% Marginally above 100% €258 €386-391m Cash EBITDA €121m €177-183m TeamViewer 17#18Appendix TeamViewer#19Reconciliation From Management Key Metrics To IFRS Consolidated Statement of Comprehensive Income Q3 2019, in €m Billings/Revenue Cost Of Sales Gross Profit Contribution Other Income Sales Marketing R&D G&A Management View Adjusted P&L 83 (6) 76/(92% of Billings) 8 (10)/(12% of Billings) Deferred Revenue + D&A + Specific Non-recurring Adjustments 19 (0) I Accounting View IFRS P&L 102 (13) 89/(88% of Revenue) 8 (1) (3) (5)/(6% of Billings) I (0) (1) I I (7)/(8% of Billings) I (1) (3) I (14) / (14% of Revenue) | (6)/(6% of Revenue) (10)/(10% of Revenue) I (12)/(14% of Billings) (1) (31)(2) I (44)/(43% of Revenue) (5) Other Expenses (1) Cash EBITDA D&A 46/(56% of Billings) (9) I Cash EBIT/Operating Profit D&A 37/(45% of Billings) EBITDA 1. Including Bad debt expense 2. Mainly relates to IFRS 2 adjustment as outlined on page 15 I 18/(18% of Revenue) 27/(27% of Revenue) TeamViewer 19#20Reconciliation From Management Key Metrics To IFRS Consolidated Statement of Comprehensive Income 9M 2019, in €m Management View Adjusted P&L Deferred Revenue + D&A + Specific Non-recurring Adjustments Accounting View IFRS P&L 59 Billings/Revenue 224 Cost Of Sales (17) (19) (1) Gross Profit Contribution 207/(92% of Billings) 283 (36) 247/(87% of Revenue) Other Income 16 I I 16 t Sales I (28)/(13% of Billings) (3) (3) | (35)/(12% of Revenue) T + Marketing I (16)/(7% of Billings) (1) (1) I (17)/(6% of Revenue) I R&D (21)/(9% of Billings) I (3) (27)/(9% of Revenue) G&A (27)/(12% of Billings) (35) (2) I Other Expenses (1) I (12) (64)/(23% of Revenue) (12) Cash EBITDA 120/(53% of Billings) D&A (27) I Cash EBIT/Operating Profit 92/(41% of Billings) D&A EBITDA 108/(38% of Revenue) | 27 135 / (48% of Revenue) 1. Including bad debt expense 2. Mainly relates to IFRS 2 adjustment as outlined on page 15 TeamViewer 20#21Deferred Revenue Deferred Revenue (€m) For the year For the nine months ended December 31, ended September 30, 2016 2017 2018 2018 2019 Perpetual - BoP Perpetual Release of Deferred Revenue 181 254 265 265 173 78 106 122 83 97 Perpetual Addition of Deferred Revenue 151 117 30 27 1 Perpetual - EoP 254 265 173 209 78 Subscription - BoP 6 14 43 43 107 Subscription Release of Deferred Revenue 18 38 136 90 187 Subscription Addition of Deferred Revenue Subscription-EOP 26 68 200 127 222 14 43 107 81 143 Total Deferred Revenue - BoP 186 268 309 309 281 Total Deferred Revenue - Release 96 144 258 173 284 Total Deferred Revenue - Addition 177 185 230 154 224 Total Deferred Revenue - EoP 268 309 281 290 220 TeamViewer 21#22Consolidated P&L Consolidated P&L (€m) Revenue Cost of sales Gross profit/(loss) Other income R&D Sales Marketing G&A Other expenses Bad debt expense Operating profit/(loss) Unrealised foreign exchange gains/(losses) Realised foreign exchange gains/(losses) Finance income Finance costs Profit/ (Loss) before taxation Tax income/ (expense) Profit/(Loss) for the period Q3 2019 Q3 2018 % YOY 9M 2019 9M 2018 % YOY 102 73 39% 283 175 62% (13) (12) 5% (36) (35) 5% 89 61 46% 247 140 76% 8 0 >100% 16 1 >100% (10) (6) 70% (27) (17) 60% (14) 81% (35) (21) 64% (6) (4) 48% (17) (12) 40% (44) (6) >100% (64) (18) >100% (0) (0) >100% (1) (0) >100% b (1) >100% (11) (4) >100% 18 36 -49% 108 69 58% 3 (1) (16) -91% (21) (0) >100% (20) (0) >100% 17 8 >100% 39 12 >100% (37) (17) >100% (77) (54) 42% (21) 23 49 10 >100% 34 (13) 10 (10) 14 10 >100% 59 >100% TeamViewer 22#23Consolidated Balance Sheet Consolidated Balance Sheet (Єm) Non-current assets: Property, plant and equipment Goodwill Intangible assets Deferred tax assets Other non-current assets Total non-current assets Current assets: Trade receivables Cost to obtain a contract current Other current assets Current tax assets Financial assets Cash and cash equivalents Total current assets Total assets September 30, 2019 December 31, 2018 12 2 591 584 239 253 2 0 5 850 840 9 15 0 1 10 3 7 0 0 10 27 80 54 108 948 903 TeamViewer 23#24Consolidated Balance Sheet (cont'd) Consolidated Balance Sheet (Єm) Equity: Issued capital Capital reserve (Accumulated losses)/retained earnings Foreign currency translation reserve Total equity Non-current liabilities: Interest-bearing loans and borrowings Deferred revenue Deferred tax liabilities Financial liabilities Total non-current liabilities Current liabilities: Interest-bearing loans and borrowings Trade payables Deferred revenue Accrued expenses and other payables Current tax liabilities Provisions Financial liabilities Total current liabilities Total equity and liabilities September 30, 2019 December 31, 2018 200 310 (474) 1 37 0 116 (333) 0 (217) 610 679 7 47 0 19 0 3 617 748 3 155 8 7 213 233 22 14 0 0 2 1 0 7 249 417 903 948 TeamViewer 24#25Consolidated Statement of Cash Flows Consolidated Statement of Cash Flows (€m) Cash flows from operating activities: Profit for the period (net income/net loss) Amortisation and depreciation (Gain)/ loss on sale of fixed assets (Increase)/decrease of provisions Unrealised foreign exchange (gains)/losses Non-cash share-based compensation expenses Financial result effect Changes in working capital Tax expense/(income) Taxation paid Interest paid (other than borrowings) Net cash from operating activities 2019 For the nine months ended September 30, 2018 59 0 27 22 (0) 0 1 0 20 16 27 1 38 42 (63) (16) (10) 10 (15) (1) (0) 0 84 75 TeamViewer 25#26Consolidated Statement of Cash Flows (cont'd) Consolidated Statement of Cash Flows (€m) For the nine months ended September 30, 2019 2018 Cash flows from investing activities: Investments Capital expenditure Finance effects Net cash used in investing activities Cash flows from financing activities: Loans & borrowings Repayments of borrowings Proceeds from bank borrowings Payments of lease Interest paid on borrowings Proceeds/payments from the settlement of derivatives Proceeds/payments of capital contribution Proceeds/repayments of intercompany loans Proceeds/payments of intercompany interest Net cash from financing activities Net change in cash funds 0 0 8 (8) 0 0 (8) (8) (136) (41) (179) (4) 74 0 0 (27) 0 0 0 (4) (37) 0 0 0 0 0 (136) (41) (60) 25 Other cash effects for balance sheet reconciliation1 6 (1) 1. Including net foreign exchange difference, net change from cash risk provisioning, internal mergers and transfers TeamViewer 26#27Quarterly KPIs Quarterly KPIs for the Three Months Ended (€m) 2016 2017 2018 2019 Mar-31 Jun-30 Sep-30 Dec-31 Mar-31 Jun-30 Sep-30 Dec-31 Mar-31 Jun-30 Sep-30 Dec-31 Mar-31 Jun-30 Sep-30 Revenue 20 21 24 27 30 33 36 40 47 55 73 83 87 95 102 EMEA 13 14 15 17 19 20 22 24 28 32 43 48 49 54 57 AMS 5 5 6 7 8 9 10 11 14 16 22 25 27 29 32 APAC 2 2 3 3 4 4 4 St 5 5 6 10 10 12 13 Other/reconciliation Billings 46 37 32 63 52 38 29 65 55 48 51 75 69 73 83 EMEA 28 20 17 40 32 21 16 44 34 25 23 47 40 40 36 AMS 13 12 11 16 15 12 9 14 15 13 20 21 21 20 36 APAC 5 5 5 6 6 5 4 7 7 10 7 7 8 13 11 Other reconciliation Cash EBITDA 31 20 14 42 33 18 10 42 33 21 24 43 35 28 46 Cash EBITDA margin (in %) 67% 54% 43% 68% 64% 48% 33% 64% 61% 43% 46% 57% 51% 39% 56% TeamViewer 27#28Refinancing New Financing in place since 09/2019 RCF Amount 6M Base Margin All-in interest 35 0.00% 2.50% Total loan amount 613 o/w EUR 4.18% . 125 0.00% 2.50% 2.50% o/w USD 413 2.06% 2.75% 4.81% o/w GBP 75 0.83% 2.75% 3.56% 613m refinancing with 35m additional RCF facility on 27 September 2019 Mandatory repayment of 5% starting 12/31/2020, full repayment on 26 September 2024 EURIBOR, LIBOR (USD) and LIBOR (GPB) as base rates First lien USD with 1% floor, EUR and GBP with 0% floor Full amoritization of unexpensed transaction costs TeamViewer 28