Sotheby's Investor Presentation Deck

INCREASING HIGH-MARGIN CONTEMPORARY ART SALES Sotheby's Contemporary Art Auctions Evening Day Online/Curated 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Investor Briefing: April 2019 11 8 6 3 0 Number of Sales Contemporary Curated offers accessibly priced works by leading artists of the post-war and contemporary periods. 2014 Contemporary Curated and Contemporary Online Online/Curated 50% 15 2015 2016 of buyers in online- only sales are new to Sotheby's 2017 20% 2018 1200 900 600 300 Annual Total (USD, 000s) of those go on to bid in a live sale Sotheby's I

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