#1→SAFEGUARD™ Investor Presentation September 2021 SFE LISTED NYSE#2Forward-looking Statements Statements made in this presentation include forward-looking statements, and those statements are subject to risks and uncertainties, which include, but are not limited to, Safeguard's ability to make good decisions about the monetization of our ownership interests for maximum value, or at all, and the return of value to our shareholders, the ongoing support of our existing ownership interests, the fact that our ownership interests may vary from period to period, challenges to achieving liquidity from our ownership interests, fluctuations in the market prices of any publicly traded ownership interests, competition, our ability to attract and retain qualified employees, market valuations in sectors in which our ownership interests operate, our inability to control our ownership interests, our need to manage our assets to avoid registration under the Investment Company Act of 1940, and risks associated with our ownership interests, including the fact that most of our ownership interests have a limited history and a history of operating losses, face intense competition and may never be profitable, the effect of economic conditions in the business sectors in which Safeguard's ownership interests operate, including the impact of COVID-19, and other uncertainties described in our filings with the SEC. Many of these factors are beyond Safeguard's ability to predict or control. As a result of these and other factors, Safeguard's past financial performance should not be relied on as an indication of future performance. We encourage you to read Safeguard's filings with the SEC, including our Form 10-K, which describe in detail the risks and uncertainties associated with managing our business. Safeguard does not assume any obligation to update any forward-looking statements made in this presentation. G www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED NYSE 2#3Safeguard Scientifics, Inc. Overview Safeguard has an attractive venture portfolio of late-stage tech-enabled healthcare, digital media and other companies • Major sectors of exposure - ad tech and tech-enabled healthcare - are experiencing positive secular trends Portfolio has limited follow-on capital needs: $5-7mm guidance for 2021 - down from $9.2mm in 2020 Safeguard is pursuing a focused strategy to value-maximize and monetize its ownership interests over a multi-year time frame to drive shareholder value • Strict portfolio management and capital allocation approach to follow-on deployments and exits decisions • Year-to-date asset sale proceeds of $58 million, inclusive of the cash proceeds from the recently announced Flashtalking sale • • June IPO of Bright Health Group resulted in the conversion of Safeguard's preferred shares into 1.3 million shares of common stock, subject to lock up through end of December Since adoption of current strategy in January 2018, realized approximately $252 million in cash proceeds Progress towards returning capital to shareholders • • During Q2 2021, Safeguard repurchased 229,000 shares of common stock at an average cost of $6.93 per share (totaling $1.6 million) as part of $6 million share repurchase program initiated in May 2021 Targeted liquidity threshold (above which to consider returning capital) reduced in Q1 from $20 million to $18 million On Sept 2nd, Safeguard launched a self-tender offer to purchase up to $35mm of its common stock in a modified Dutch auction at prices between (and including) $7.90 to $9.00 per share Safeguard continues to reduce its corporate costs and increase its operating flexibility Committed to exploring all actions to maximize shareholder value Management and Board compensation aligned with shareholders' interests www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED 3 NYSE#4Companies by Revenue Stage No pre-revenue companies Indicates Company that progressed a stage during the most recent quarter Colute clutch Lumesis MOXE Proven business Maturing ō models portfolio INFOBIONIC Trice Medical meQuilibrium Revenue: $1M - $5M Revenue: $5M - $10M Note: trailing twelve-month revenues as of 3/31/2021, reflects one quarter reporting lag. Sale of Flashtalking completed in August 2021. www.safeguard.com Bright Health Group MediaMath Revenue: $50M+ AKTANA prognos syapse Revenue: $10M - $20M Revenue: $20M - $50M © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE#5Aggregate Portfolio Revenue TTM through 3/31/2021 Revenue (in millions) $400 $350 $300 $107 $37 $53 $250 $19 $193 $200 $150 $262 $252 $232 $248 $100 $127 $50 $- 3/31/2017 3/31/2018 3/31/2019 Actual Actual Actual 3/31/2020 Actual 3/31/2021 Actual ■Digital Marketing and other Healthcare Aggregate annual revenue rate down 9.7% Average annual revenue growth rate of 14.1% Aggregate annual revenue growth for healthcare portfolio of 3.5% Note: trailing twelve-month revenues as of 3/31/2021, reflects one quarter reporting lag; includes Flashtalking and excludes Bright Health Group. G www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED NYSE Healthcare Companies (7) Digital Media and other companies (4) Note: SFE reports the revenue of its companies on a one-quarter lag basis. Revenue for all years has been revised to exclude companies that were exited or fully impaired. Certain amounts in 2018 and 2019 have also been adjusted to reflect the impact of revenue accounting changes adopted at applicable companies. 50#6Portfolio Considerations ■ Safeguard Market Cap < Fair Market Value< Projected Future Exit Values • Carrying value does not equal Fair Market Value due to equity method accounting • • • Fair Market Values calculated from widely accepted methodologies - recent financings, company performance and public markets data Projected Future Exit Values dependent on sector, company execution, capital availability, and M&A markets Recent public market peer group for tech-enabled healthcare and ad tech trade companies both trade at ~6x 2021 consensus revenues ■ Strict portfolio management philosophy to optimize value-maximization and time to exit ■ Pursue multiple avenues to achieve exits . Board influence to accelerate exit processes Company sale or IPOS ("natural exit") are the preferred approaches to maximize value • Also explore secondary and structured transactions for specific situations ■ Virtual discussions with 5 portfolio company CEOs hosted during the year and available for replay at: https://ir.safeguard.com/investors/events-and-presentations/past- events/default.aspx • Replays currently available for: meQuilibrium, Flashtalking, Aktana, Prognos and InfoBionic G www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED NYSE 6#7Financial Matters As of June 30, 2021, no debt and $21.3 million of cash, cash equivalents and restricted cash Subsequent to Q2, closed sale of Flashtalking resulting in $44mm cash to Safeguard Safeguard expects to return value to shareholders as additional exits occur above targeted liquidity level . In Q1 2021, announced a reduction to the targeted liquidity threshold from $20 million to $18 million In May, Safeguard's Board of Directors authorized a new $6 million share repurchase program In Sept, Safeguard launched $35 million self-tender of its common stock in a modified Dutch auction at prices between (and including) $7.90 and $9.00 Follow-on funding to support companies declining: $9.2 million in 2020; target of $5-7mm 2021 Year-to-date 2021 of $1 million Compared to $17 million in 2019 and $16 million in 2018 Continuing to reduce corporate expenses*: $1.0 million for the quarter ended June 30, 2021 as compared to $1.2 million for comparable 2020 quarter Corporate expenses down 23% compared to Q2 2020 Expect to be below our initial 2021 target of $4.4 to $4.9 million Safeguard has ~$362 million of Tax NOLs & Carryforwards Management and Board compensation aligned with shareholders' interest • Board compensation is 100% equity . Board size reduced to 4 Directors in May 2020 Management compensation weighted to equity and performance * Corporate expense is a non-GAAP measure that represents general and administrative expenses excluding depreciation, stock-based compensation, severance and retirement costs, and other non-recurring items. G www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED NYSE 7#8Key Financial Measures Cash, equivalents, restricted cash and marketable securities Total Borrowings Net Cash Position # of Ownership Interests * June 30, 2021 December 31, 2020 December 31, 2019 $21,330 $0 +$21,330 $15,601 $0 +$15,601 $25,053 $0 +$25,053 11 14 15 General and administrative expenses (YTD) $4,454 $9,466 $9,982 Corporate expense (YTD) ** $2,155 $5,216 $7,118 * This count includes Flashtalking (which was sold after the June quarter); excludes Bright Health Group as well as companies within the Other ownership interests portion included in our quarterly results release. ** Corporate expense is a non-GAAP measure that represents general and administrative expenses excluding depreciation, stock-based compensation, severance and retirement costs, and other non-recurring items. G www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED NYSE 80#9Safeguard Scientifics, Inc. Overview Safeguard has an attractive venture portfolio of late-stage tech-enabled healthcare, digital media and other companies • Major sectors of exposure - ad tech and tech-enabled healthcare - are experiencing positive secular trends Portfolio has limited follow-on capital needs: $5-7mm guidance for 2021 - down from $9.2mm in 2020 Safeguard is pursuing a focused strategy to value-maximize and monetize its ownership interests over a multi-year time frame to drive shareholder value • Strict portfolio management and capital allocation approach to follow-on deployments and exits decisions • Year-to-date asset sale proceeds of $58 million, inclusive of the cash proceeds from the recently announced Flashtalking sale • • June IPO of Bright Health Group resulted in the conversion of Safeguard's preferred shares into 1.3 million shares of common stock, subject to lock up through end of December Since adoption of current strategy in January 2018, realized approximately $252 million in cash proceeds Progress towards returning capital to shareholders • • During Q2 2021, Safeguard repurchased 229,000 shares of common stock at an average cost of $6.93 per share (totaling $1.6 million) as part of $6 million share repurchase program initiated in May 2021 Targeted liquidity threshold (above which to consider returning capital) reduced in Q1 from $20 million to $18 million On Sept 2nd, Safeguard launched a self-tender offer to purchase up to $35mm of its common stock in a modified Dutch auction at prices between (and including) $7.90 to $9.00 per share Safeguard continues to reduce its corporate costs and increase its operating flexibility Committed to exploring all actions to maximize shareholder value Management and Board compensation aligned with shareholders' interests www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED NYSE 6#10→SAFEGUARD™ Appendix SFE LISTED NYSE#11Ownership Interests at June 30, 2021 Primary / Fully Carrying Partner Companies Stage Category Acquisition Year Diluted ** Ownership % Value (in millions) * Cost (in millions) Aktana, Inc. Clutch Holdings, Inc. Rev. $20M - $50M Rev. $5M - $10M Healthcare 2016 15.0% / 12.7% $ 0.2 $ 14.2 Digital Media 2013 41.8% / 33.0% 4.5 16.9 Flashtalking ++ Rev. $50M+ Digital Media 2018 13.2% / 10.9% 12.5 19.2 Rev. $10M - InfoBionic, Inc. Healthcare 2014 25.2% / 22.1% 22.0 $20M Lumesis, Inc. Rev. $5M - 10M Financial Services 2012 43.4% / 43.4% 1.0 5.6 MediaMath, Inc. Rev. $50M+ Digital Media 2009 13.3% / 10.2% 15.5 Rev. $10M - meQuilibrium Healthcare 2015 32.0% / 23.2% 2.6 14.0 $20M Rev. $1M - Moxe Health Corporation Healthcare 2016 27.6% / 26.0% 4.5 7.5 $5M Rev. $20M- Prognos Health, Inc. Healthcare 2011 28.5% / 24.9% 3.4 12.6 $50M Rev. $20M - Syapse, Inc. + Healthcare 2014 11.1% / 8.9% 6.8 25.0 $50M Rev. $5M - Trice Medical, Inc. Healthcare 2014 16.6% / 14.2% 0.8 11.8 $10M Bright Health Group (a) Other 2021 n/a 22.7 All others Various n/a 1.1 9.2 TOTAL: $ 60.1 $ 173.5 + Company progressed into a higher revenue stage this quarter. ++ Flashtalking was acquired in a transaction which closed in August 2021. * Carrying value is determined under the Equity method of accounting for those assets which meet that criteria and the Other method for the remaining assets. See our Annual Report on Form 10-K for a description of each method. ** Based on information provided by each respective company. Assumes the conversion or exercise of all currently outstanding securities including the issuance of all shares available under authorized employee equity programs. Does not reflect liquidation preferences, priority payments, proceeds from option and/or warrant exercises or other company-specific transaction related obligations in a liquidation or exit transaction. (a) Subsequent to the quarter, the fair value of BHG declined to approximately $11 million as of August 10, 2021. G www.safeguard.com SFE © 2021 Safeguard Scientifics, Inc. All rights reserved. LISTED NYSE 11#12Condensed Consolidated Balance Sheets Assets June 30, 2021 December 31, 2020 Cash, cash equivalents, restricted cash $ 21,330 $ 15,601 Ownership interests 22,694 Other current assets 1,221 462 Total current assets 45,245 16,063 Ownership interests in and advances 37,391 50,398 Other assets $ 2,000 $ 2,574 Total Assets 84,636 69,035 Liabilities and Equity Other current liabilities Total current liabilities Lease liability - non-current Other long-term liabilities Total equity Total Liabilities and Equity $ 3,318 3,470 3,318 3,470 1,872 2,053 50 637 79,396 62,875 $ 84,636 $ 69,035 G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE In thousands 12#13Income Statement Operating expenses Operating loss Other income (loss), net Interest, net Equity income (loss), net Net income (loss) before income taxes Three Months Ended June 30, 2021 2020 2021 Six Months Ended June 30, 2020 $ 1,991 $ 2,028 $ 4,454 $ 5,560 (1,991) (2,028) (4,454) (5,560) 6,733 (2,658) 7,439 (6,225) 74 52 127 157 (5,136) (5,277) 14,193 (14,291) (320) (9,911) 17,305 - $ (320) $ (9,911) (25,919) $ 17,305 $ (25,919) Income tax benefit (expense) Net income (loss) Net income (loss) per share: Basic $ (0.02) $ (0.48) $ 0.83 $ (1.25) Diluted $ (0.02) $ (0.48) $ 0.83 $ (1.25) Weighted average shares used in computing income (loss) per share: Basic Diluted 20,856 20,720 20,856 20,720 G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 20,879 20,879 20,703 20,703 In thousands, except per-share amounts 13#14Aktana-Company Overview Market Segment: Headquarters: COMPANY OVERVIEW Sales Decision Support / Marketing Automations (Life Sciences/Medtech) San Francisco, CA AKTANA CEO: David Ehrlich • Aktana is an Al-enabled life sciences marketing decision support solution that helps sales and marketing teams to optimize go-to-market strategies at the brand level Helps customers improve their commercial effectiveness by delivering data-driven insights and suggestions directly to sales reps, coordinating multi-channel actions, and providing insight regarding which strategies work best for customers • Aktana's Decision Support System ("DSE") provides next-best-action insights for sales reps, while the Learning Platform allows the engine to learn which suggestions are optimal Origin: Capital: Ownership: Financing Rounds: Other Investors: Board Member: SUMMARY June 2016 $14.2M 15% Primary / 13% Fully Diluted Series B, Series C, Series D Leerink Transformation Partners, Novartis (dRx), HLM Venture Partners, Norwest, Starfish Ventures Eric Salzman THESIS • Total addressable market is approximately $2B for pharma and biotech sales rep decision support • Focus on the life sciences market has contributed to multi-year growth rates of more than 100% in relationships with over half of the world's top 15 pharmaceutical companies • Real-world validation and proven ROI across therapeutic categories and geographies • Robust partner ecosystem • Serves brands across a range of therapeutic areas in multiple geographies REVENUE MODEL Aktana prices its platform separately for the decision support engine (DSE) (aka top layer)-which provides smart suggestions and insights to pharmaceutical sales representatives within their workflow to help them make better every day decisions-and the Learning Platform (bottom layer). For DSE, Aktana licenses the software based on a per rep per brand basis according to size and number of reps. For the Learning Platform, Aktana charges an annual fee. COMPETITORS Veeva, Salesforce, IQVIA, ZS Associates, Vymo, Customer Insourcing G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 14#15Clutch-Company Overview Market Segment: Headquarters: CEO: COMPANY OVERVIEW Customer Rewards and Loyalty Ambler, PA Ned Moore ⚫ A leading wholistic solution to a fragmented industry, Clutch offers customer relationship management and a mobile commerce platform that unifies gifting, loyalty and shopping to bring the most relevant information to consumers and the most targeted customers to merchants • The Company offers a marketing platform that serves as a customer hub delivering deep intelligence, derived from real-time behaviors and transactions across in-store, online, mobile and social channels Revenue is comprised of four components: contracted recurring, transactional, services and marketing. The majority of revenue is derived from transaction-based services. Clutch also earns a small portion via on-boarding fees and is looking at the data monetization potential Origin: Capital: Ownership: Financing Rounds: Other Investors: Board Member: clutch Ca SUMMARY February 2013 $16.9M 42% Primary / 33% Fully Diluted Series A, Series B NewSpring Capital, Ben Franklin Technology Partners, Empactful, Sierra Steve Grenfell REVENUE MODEL • THESIS The consumer and loyalty management market is focused on delivering to premier brands the ability to maximize relationships with their customers along with lifetime value, and is estimated to reach a value of $6.8Bn by 2023, representing a 5-year CAGR of 21.1% from 2018 • Broad potential client base includes any consumer business that uses gift and loyalty programs ⚫ Well positioned to unify the very fragmented, non-standardized set of rewards and loyalty solutions utilized today across major brands, and to execute on strategic and referral partnerships to drive growth Expanding into new verticals, such as banking and financial services, food, hospitality and healthcare, which help balance cyclicality in the core verticals and have higher average order value The majority of Clutch's revenue is transaction-based, while a small portion is via on-boarding fees. Strategic channel partners and other customers include any consumer business that uses gift and loyalty programs. Customers pay a transaction fee for users that use the loyalty and gifting features platform. The client is incentivized to onboard as many users onto the gifting and loyalty platform as it can, because this will ultimately lead to more transactions and purchases. Clutch believes there are also data monetization opportunities once the platform is integrated. COMPETITORS Crowdtwist, Cheetah Digital, Session M G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 15#16Flashtalking-Company Overview Market Segment: flashtalking",, Headquarters: CEO: COMPANY OVERVIEW Digital Ad Management and Analytics New York, NY John Nardone • A data-driven ad management and analytics technology company that uses data to personalize advertising in real-time, analyze its effectiveness and enable optimization that drives better engagement and ROI for sophisticated global brands • Offers both front-end tools like campaign setup, asset creation, HTML builders & decision trees as well as back end capabilities that, together, allow analytics and reporting to be as strong as the front-end functions • Generates revenue via contracts with clients for creative delivery, media measurement and advertising effectiveness solutions • Provides online marketing services pursuant to the agreements with corporate customers and marketing partners THESIS Safeguard first provided capital to Spongecell, a programmatic, dynamic creative advertising tool which was merged into Flashtalking in 2018 ⚫ U.S. internet advertising market spend hit more than $80B in 2017 and is expected to hit approximately $115B by 2021. Globally, spend reached more than $225B in 2017 and is anticipated to grow at a 9% CAGR through 2021 (eMarketer) Flashtalking is well positioned to continue addressing not only the ad-serving and targeting segments of the market, but also the Dynamic Creative Optimization ("DCO") market within the high-growth mobile, video, rich media and display sub-sectors • Blue chip client base focused across Retail / E-commerce, Travel, and Telco Origin: Capital: Ownership: Financing Rounds: Other Investors: Board Member: SUMMARY January 2012 (via sale of Spongecell) $19.2M 13% Primary / 11% Fully Diluted Private Equity-backed TA Associates Steve Grenfell (Observer) REVENUE MODEL Flashtalking enters into contracts with clients for creative delivery, media measurement and advertising effectiveness solutions. Through their DCO segment (augmented with Spongecell), they provide online marketing services pursuant to the agreements with corporate customers and marketing partners. Cost per Thousand Impressions, Cost per Click and Cost per Action represent the three most common ways in which online advertising is sold and purchased. COMPETITORS Criteo, Google, Inc., IACI, Marin Software Incorporated, Kenshoo G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 16#17InfoBionic-Company Overview Market Segment: Headquarters: CEO: COMPANY OVERVIEW Patient Monitoring (Cardiac) Lowell, MA Stuart Long A digital health company focused on creating superior patient monitoring solutions for chronic disease management with an initial market focus on cardiac arrhythmias • Has 510(k) clearance from the U.S. Food and Drug Administration ("FDA") for MoMeⓇ Kardia, a wireless, remote monitoring system designed to aid physicians in their diagnosis of cardiac arrhythmia • The proprietary software analyzes the data and flags incidents for physician review on a Web-based physician portal Origin: Capital: Ownership: Financing Rounds: Other Investors: INFOBIONIC SUMMARY March 2014 $22.0M 25% Primary / 22% Fully Diluted Series B, Series C Eagle Investments, BCBS KS, Broadview Ventures, Excel Venture Management, Health TechCapital, Zaffre Investments Board Member: Eric Salzman THESIS • The global addressable market for monitoring cardiac arrhythmia and related events is estimated to be approximately $3B worldwide, including $1B in the U.S. Innovative SaaS revenue model, which includes an upfront device sale followed by a monthly subscription fee for unlimited use of the company's cloud-based diagnostic service and portal • MoMeⓇ Kardia displaces IDTFs and redirects reimbursement economics to the ordering physicians, encouraging adoption REVENUE MODEL One of InfoBionic's most differentiated features is its SaaS revenue model, which includes an upfront device sale followed by a monthly subscription fee for unlimited use of the company's cloud-based diagnostic service and portal. COMPETITORS iRythm, BioTelemetry (Philips), AliveCor, Medi-Lynx, Zywie, Medtronic, Abbott, GE Healthcare, OSI Systems G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 17#18Lumesis-Company Overview Market Segment: Headquarters: CEO: COMPANY OVERVIEW Financial Analytics / Compliance Stamford, CT Gregg Bienstock Lumesis is a financial technology company focused on providing business efficiency and compliance solutions via its DIVER platform to hundreds of clients and over 45,000 users in the municipal bond marketplace ⚫ The DIVER platform from Lumesis delivers technology and data solutions helping firms efficiently meet credit, regulatory and risk needs • The Company's solutions enable portfolio managers, investment advisors, compliance professionals, financial advisor networks and issuers / underwriters to heat-map portfolios against local economic scenarios, benchmark against industry indices, manage their portfolios against internal credit and risk models, and monitor issuer disclosures Origin: Capital: Ownership: Financing Rounds: Other Investors: Lumesis SUMMARY February 2012 $5.6M 43% Primary /43% Fully Diluted Series A, Series B Jim Ashton (JA3 Partners) Board Member: Mark Herndon, Steve Grenfell REVENUE MODEL THESIS • The municipal bond market has doubled in size over the past 10 years, with over $3.7 trillion of U.S. municipal debt outstanding among 45,000 unique issuers • The Company is solely dedicated to the municipal bond market, which has been historically underserved by technology providers • Works with over 200 institutional clients, blue-chip broker dealers, asset managers, insurance companies, mutual funds and rating agencies Only company that serves the entire municipal bond market, including buy-side, sell-side and legal / compliance Large IP portfolio and proprietary database create significant barriers to entry Lumesis licenses financial software products to the municipal fixed income market to be used as analytical and compliance tools. Customers buy licenses on an enterprise / per seat per issuance basis, usually covering an annual period. Lumesis also sells data to financial market participants. COMPETITORS ValueLine, Inc., Fidessa Group plc, Reis, Inc., Envestnet, Inc., Forrester Research Inc., Financial Engines, Inc., DAC, Investment Technology Group, Inc., BLX, DPC Data, Refinitiv G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 18#19MediaMath-Company Overview Market Segment: Headquarters: CEO: COMPANY OVERVIEW Digital Advertising / Marketing New York, NY Joe Zawadzki ⚫ Global ad technology company that enables advertisers to optimize their digital advertising spend across ad exchanges via an algorithmic trading platform • The Company's media buying platform, TerminalOne, allows Media Math to be a conduit for every transaction and provides the Company with the ability to analyze every transaction, identify inefficiencies within the market and ultimately provide an automated optimization engine to maximize performance for ad agencies and brands • Offered as both a Managed Service and a Self-Service SaaS Platform THESIS According to eMarketer, worldwide digital ad spending continues to grow and becoming a larger portion of total paid media outlay; spend is expected to see double-digit growth through 2020 • MediaMath is well positioned to capitalize on ad spending growth given revenue is generated based on customer spend through the platform • The Company's media buying platform, TerminalOne, effectively integrates all of the exchanges under one platform, thereby filling a deep demand for intelligent buying Diversified, blue-chip customer base of 4,000+ advertisers globally, including two-thirds of the Fortune 500 Origin: Capital: Realizations to Date: Ownership: Financing Rounds: Other Investors: Board Member: MediaMath SUMMARY July 2009 $15.5M* $45.0M* 13% Primary / 10% Fully Diluted Series B, Series C Akamai Technologies, Catalyst Partners, QED Investors, Observatory Capital Management, Spring Lake Equity Partners, Searchlight, Vocap Ventures Eric Salzman (Observer) *Reflects sale-back of equity related to $10M in invested capital in 2018 to MediaMath for $45M REVENUE MODEL MediaMath's Terminal One Marketing Operating System enables clients to acquire and optimize digital advertising. MediaMath earns revenue as a percentage of customer spend through the platform. In addition, MediaMath generates revenues from services provided based on achievement of targeted deliverables as specified in the agreements with their customers. Deliverables are typically based on delivery of impressions, clicks to a specified web site or specified user actions. COMPETITORS G www.safeguard.com Adobe Systems, Google, Criteo, Trade Desk, Rubicon Project, Telaria © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 19#20meQuilibrium-Company Overview COMPANY OVERVIEW meQuilibrium Market Segment: Headquarters: CEO: Human Capital Management Boston, MA Jan Bruce • SaaS-based proprietary resilience development solutions powered by predictive analytics and Al for organizations to manage their human capital and develop engaged, agile workforces • The Company offers solutions for individual employees (Engage), managers and teams (Empower), and HR and Benefits managers (Gateway and Collaborate). Solutions are multi-modal and global • The solution increases engagement, productivity, and performance and improved outcomes in retaining and developing top talent and managing stress, health, and well-being ⚫ Its product suite is sold as a per-employee-per-year SaaS delivered in a desktop or mobile environment THESIS • Human Capital Management ("HCM") software market was estimated at $14.5B in 2017, and is expected to grow to $22.5B by 20231 ⚫ Current customer base of over 40 Fortune 500 clients and in 60+ countries • Contracts are 2-3 years with each year typically paid upfront by customers • Demonstrable ROI within key early adopters, including Comcast, HP, and JPMorgan Emphasis on HCM (versus wellness) opens up new potential customers and strategic channel partners, maximizing topline growth potential Opportunity to maximize products being sold to a single customer (land and expand) Origin: Capital: Ownership: Financing Rounds: Other Investors: Board Member: SUMMARY April 2015 $14.0M 32% Primary / 23% Fully Diluted Series B, Series C, Series C extension HLM Venture Partners, Chrysalis Ventures Gary Kurtzman REVENUE MODEL meQuilibrium's product is sold as a PEPY software-as-a-service delivered in a desktop or mobile environment. Most current contracts are 2-3 years in length and each year is typically paid upfront by customers. COMPETITORS Castlight Health (CSLT), Limeade, Happify, Headspace, Optum, Success Factors (SAP), Whil, others G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 1. Based on industry and market reports 20#21Moxe-Company Overview Market Segment: Headquarters: CEO: • • • COMPANY OVERVIEW Interoperability Madison, WI Dan Wilson Provides a clinical data clearinghouse, creating a two-sided network facilitating the bi-directional exchange of clinical, analytic, and administrative data between health systems and payers Key product, Substrate, serves as an electronic medical record integration platform, facilitating the real-time exchange data between payers and their provider networks for risk adjustment and other use cases. Moxe's Digital ROI product, which automates all clinical release of information requests, is built on top of Substrate Moxe's second product, Convergence, creates a customer portal directly in the provider's EMR workflow, allowing payers to share data and actionable insights directly with physicians Currently developing additional products aimed at improving clinical data workflows for payer and health system customers THESIS • Moxe plays in large and growing spaces; interoperability market is $1.9B (7.4% CAGR); healthcare analytics market is $8.9B (27% CAGR); value-based care/population health management software market is expected to reach $32B by 2020 • Current market for chart retrieval estimated >$300M; HCC reconciliation and risk adjustment larger ($5B+) with significant incumbents; current processes slow and manual • Moxe offers better, faster, cheaper solution with more complete data; multiple uses cases for payers, providers, pharma, and patients Opportunity to leverage network effects to accelerate scaling Origin: Capital: Ownership: Financing Rounds: Other Investors: MOXE SUMMARY September 2016 $7.5M 28% Primary / 26% Fully Diluted Series A/ Bridge UPMC Enterprises, 3M Ventures Board Member: Gary Kurtzman REVENUE MODEL Moxe has priced its solution on a per health system site basis and a transactional basis. Moving forward, Moxe is implementing PMPM pricing for payer customers by health system site to improve revenue predictability. COMPETITORS Availity, Ciox, Experian, Innovaccer, Inovalon, McKesson Corporation, MRO Corp, Navinet (NantHealth), other interoperability solutions G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 21#22Prognos-Company Overview Market Segment: Headquarters: CEO: COMPANY OVERVIEW Healthcare Analytics / Al New York, NY Sundeep Bhan Prognos aggregates, harmonizes and analyzes clinical diagnostic data for life sciences, diagnostic companies, and payers, aiming to improve health by tracking and predicting disease • The Prognos Registry of 22 billion clinical records for 200 million patients in over 50 disease areas enables earlier identification of patients who can benefit from enhanced treatment decision making and risk management • The Company operates in two verticals - Life Sciences and Payers. In the Life Sciences segment. Prognos contracts with biopharma firms to identify patients who are candidates for drug treatment. ⚫ In the Payer segment, Prognos contracts with plans for various population risk use cases annually and has revenue share agreements with labs to secure access to the data Origin: Capital: Ownership: Financing Rounds: Other Investors: prognos SUMMARY November 2011 $12.6M 29% Primary / 25% Fully Diluted Series A, Series B, Series C Hikma Ventures, Cigna Ventures, ARC Angel Fund, Merck GHIF, GIS Strategic Ventures (Guardian Life), Hermed Capital, Maywic Strategic Inv Board Member: Gary Kurtzman (Chair) REVENUE MODEL THESIS Large, unique clinical data asset; proprietary technology and data science/machine learning/Al capabilities; data network effects Multiple use cases applicable to pharma, payers, labs, and PBMs with potential for expansion into provider space • Based on current monetization strategies, the total addressable healthcare analytics market for Prognos' products is estimated to reach $5.5bn+ Strategic partnership opportunities Prognos operates in two verticals - Life Sciences and Payers. In the Life Sciences segment, Prognos contracts with biopharma firms for potential patient identification solutions. In the Payer segment, Prognos contracts with plans for various population risk use cases annually and has revenue share agreements with labs to secure access to the data. COMPETITORS IQVIA, Health Verity, LabCorp, Quest, Symphony Health, Komodo Health G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 22 222#23Syapse-Company Overview Market Segment: Headquarters: CEO: COMPANY OVERVIEW Precision Medicine San Francisco, CA Ken Tarkoff • Multi-sided platform creating a data network effect in order to improve the way cancer and other diseases are treated Origin: Capital: Ownership: syapse SUMMARY June 2014 $25.0M 11% Primary/9% Fully Diluted Series B, Series C, Series D, Series E, Series F, Series G (February 2021) Amgen Ventures, Ascension Ventures, • Health systems contribute clinical and other data to the platform and receive clinical and business insights • Pharma, on the other side of the platform, purchases insights and delivers information back to health systems Financing Rounds: Syapse collects and networks data from siloed hospital and laboratory enterprise systems (Syapse Network) allows the Company to provide solutions for pharma including real world evidence generation, identification of patients for clinical trials and hub services Other Investors: • Ecosystem partnerships with Pfizer, Amgen, others TBA Board Member: Gary Kurtzman Intermountain Healthcare Innovation Fund, Merck GHIF, Medidata Ventures, Northpond Ventures, Revelation Partners, Social Capital THESIS REVENUE MODEL • Syapse is initially focused on oncology, opportunity to leverage the platform to other disease verticals anticipated in 2020 and beyond Scalability allows targeting of large community health systems (50% of oncology pts in U.S) and ex-U.S, expansion $9B U.S./$15B Global market opp. from pharma partnerships and $250M U.S./$1B Global market opp. from health systems in oncology Syapse contracts with pharma and other ecosystem relationships via multi-year license agreements for products across RWE, clinical trial, regulatory, and commercial use cases. COMPETITORS Flatiron Health, Cota, Tempus Health, Concerto G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 23#24Trice-Company Overview COMPANY OVERVIEW Market Segment: Headquarters: CEO: . Medical Device Malvern, PA Mark Foster Pioneering disposable cameras and instruments that enable faster diagnostics and shift of low-risk procedures to the office and surgery center settings • Trice Medical's FDA-approved 510(k)-cleared device, mi-eye 2, is a disposable, handheld 2.2mm arthroscope, consisting of a needle with an integrated camera and a light source designed for in-office diagnostics Camera and ultrasound (mi-Ultra) products help physicians with real-time analysis, faster treatment, and schedule patients for surgery immediately Endoscopic Carpal Tunnel Release (ECTR) kit includes surgical instruments and a mi-eye 2; kit allows physicians to perform procedures in the office • • IP for other indications including neurosurgery, ob-gyn, respiratory, ENT and veterinary Origin: Capital: Ownership: Financing Rounds: Other Investors: Trice Medical SUMMARY July 2014 $11.8M 17% Primary / 14% Fully Diluted Series B, Series C Charter Capital, BioStar Ventures, HealthQuest Capital, Michigan Employees Retirement System, Smith & Nephew Board Member: Gary Kurtzman (Chair) REVENUE MODEL • • • • THESIS mi-Eye addressable market (U.S.) is more than 8 million orthopedic-focused MRI exams which are conducted each year. Positive economics for payers and providers Carpal tunnel represents a growing market size with over 600K performed annually with a favorable market trend towards endoscopic (versus open) procedures Strong proprietary position provides the ability to enter additional verticals and partner/license. Expanding with recent acquisition of Tenex Health Trice sells the mi-eye cameras, ECTR kits, mi-Ultra, and companion tablets to physicians on a per-unit basis. Trice also licenses its IP and services out to select large medtech firms for use cases Trice does not plan on pursuing independently. COMPETITORS Arthrex, Karl Storz, Smith & Nephew, Stryker, Depuy Synthes, CONMED, Biomet-Zimmer, J&J G www.safeguard.com © 2021 Safeguard Scientifics, Inc. All rights reserved. SFE LISTED NYSE 24 24#25→SAFEGUARD™ Investor Presentation August 2021 SFE LISTED NYSE