J.P.Morgan Software Investment Banking

Strategics buyer insights - Alphabet JPMorgan relationship Strategic rationale How they assess value Notable M&A deals JPM advised Don Harrison President Partnership & Corp Dev • Major entry point into healthcare with unprecedented, highly functional data • Immediate exposure to all major constituent bases in healthcare • Cross functionality with data to both sell into healthcare channel and use across broader user base Jio July 20 $4.7bn Network J.P. Morgan Key decision makers • Commercial / product opportunity most important valuation driver • Use precedent transaction multiples and long-term investment IRRs as support J.P.Morgan Company filings: press releases; FactSet as of 4/19/21 Note: All transaction multiples reflect NTM, unless noted otherwise Sanjay Kapoor Head of Corporate Development Pointy Jan '20 $163mm Search fitbit Nov '19 1.1x rev $1.6bn Wearables looker Jun '19 $2.6bn Business intelligence bebop Nov '15 $380mm Enterprise applications Market cap: $1,508bn FV/'22E Rev.: 5.8x FV / '22E UFCF: 24.9x Bill Ready President of Commerce nest Nov '15 $380mm Enterprise applications 42

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