J.P.Morgan Software Investment Banking

Strategics buyer insights - Oracle JPMorgan relationship Strategic rationale How they assess value Notable M&A deals JPM advised • Have been highly active searching for the right asset in healthcare • Highly aligned with Oracle Cloud for Healthcare capabilities and positioned to provide in-depth customer insights • Some potential enterprise solution cross sell in certain segments • Would likely require significant time to establish conviction; sizeable transaction relative to historical activity • DCF-based valuation giving credit for synergies • Assess value looking at cash-on-cash returns analysis aconex Dec '17 7.5x rev $1.2bn Mobile collaboration Larry Ellison Chairman & CTO J.P.Morgan Company filings: press releases; FactSet as of 4/19/21 Note: All transaction multiples reflect NTM, unless noted otherwise MOAT Apr '17 $850mm Online advertising Key decision makers NETSUITE Jul '16 7.9x rev $8.8bn Cloud computing J.P.Morgan datalogix Dec '14 $1.2bn Marketing services micros Jun '14 3.0x rev $4.5bn Healthcare CRM J.P.Morgan Safra Catz CEO Primavera SYSTEMS Dec '08 $550mmC J.P.Morgan Market cap: $219bn FV/'22E Rev.: 6.4x FV/'22E uFCF: 16.7x Retek Mar '05 3.0x rev $500mm Retail software J.P.Morgan 40

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