J.P.Morgan Software Investment Banking

Select software transactions - financial sponsors NTM FV / revenue 1-day premium paid Target Acquirer Announce Date Firm value (bn) NTM rev. growth FV/NTM EBITDA 34% 8.0x proofpoint? Apr-21 THOMABRAVO V $12.3bn 15% 46.0x 8% 7.1x PLURALSIGHT VISTA Dec-20 $3.5 13% NM < 20% revenue growth 6.6x TA ASSOCIATES planview. SOPHOS Nov-20 $1.7 8% 16.7x 54% J.P.Morgan Source: Company filings, Wall Street research, Renaissance reports, FactSet 5.5x THOMABRAVO Oct-19 $3.9 -10% 30.8x 19% 7.9x Ultimate SOFTWARE Feb-19 $10.7 Hellman & Friedman VVISTA 19% 53% 33.2x 7.0x APPTIO Nov-18 $1.8 17% NM 1 1 9.0x THOMABRAVO Dec-20 $1.2 31% -30% 7.5x VENAFIALPAGE Gainsight = INSTRUCTURE THOMABRAVO Dec-20 $9.5 -20% 20-30% revenue growth 26.3x 12.0x VISTA Nov-20 $1.1 22% 21% - 6.5x THOMABRAVO Dec-19 $1.9 -20% 30% 6.6x Ellie Mae THOMABRAVO Feb-19 $1.9 -20% 23.0x 68% 6.6x OMINDBODY VVISTA Dec-18 $1.9 25% NM 28

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