Investor Presentaiton

Deferred 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

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