Alphabet The Worlds Leading Search Engine Tiburon Research

Alphabet: The World’s Leading Search Engine Tiburon Research March 24, 2020

Alphabet Comments • Founded in 1998 - Founded by Sergey Brin & Larry Page • Based in Mountain View, CA • 98, 771 employees • $161. 9 billion revenues • CEO: Sundar Pichai • Web site: www. google. com Source: 4/16/19 Alphabet Web Site; 4/16/19 Wikipedia Web Site; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 2

Alphabet was Founded in 1998 and Has Subsequently Evolved through its Early, Middle, & Alphabet Phases Alphabet History Alphabet Founded Approximate Dates: Key Steps: 1998 • 1998: Alphabet founded Early Phase 1998 - 2010 • 2005: Google. Org Middle Phase 2011 - 2014 • XXXX: -- founded Alphabet Phase 2015 - 2020 Alphabet Today 2020 • 2015: Alphabet created • 2015: Sundar Pichai named CEO Source: 4/16/19 Alphabet Web Site; 4/16/19 Wikipedia Web Site; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 3

Alphabet is a Frequent Advertiser Comments • -- Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 4

Alphabet is a Frequent Acquirer Comments • -- Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 5

Alphabet Has a Charitable Giving Program Comments • -- Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 6

Alphabet Has 98, 771 Employees Alphabet Employees Source: 4/16/19 Wikipedia Web Site; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 7

Alphabet Generates $161. 9 Billion Revenues, Up From $75 Billion in 2015 Alphabet Revenues ($ Billions) Source: 12/31/19 Alphabet Annual Report; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 8

Alphabet Earns $34. 3 Billion, Up From $12. 7 Billion in 2017 Alphabet Net Profits ($ Millions) Source: 12/31/19 Alphabet Annual Report; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 9

Alphabet Has a Number of Businesses, Including Google Alphabet Businesses Google -- -- Source: 4/16/19 Google Web Site; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 10

Alphabet’s First Businesses is ___ Comments • -- Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 11

Alphabet’s Second Businesses is ___ Comments • -- Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 12

Alphabet is Led by its CEO Sundar Pichai Alphabet Organizational Chart Sundar Pichai CEO -- -- -- Ruth Porat Chief Financial Officer -- Note: Sundar Pichai joined the firm in XXXX; Ruth Porat joined the firm in XXXX Source: 4/16/19 Wikipedia Web Site; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 13

Alphabet Has a Board of Directors Led by its Chairman… Alphabet Board of Directors -- • -- -- • -- Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 14

Alphabet is Privately Owned Comments • $201. 4 billion shareholders’ equity Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 15

Alphabet Has $201. 4 Billion Shareholders’ Equity, Up From $120. 3 Billion in 2015 Alphabet Shareholders Equity ($ Billions) Source: 12/31/19 Alphabet Annual Report; Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 16

Tiburon Strategic Advisors Comments • Focus on corporate-level strategy - Serve senior executives only at financial services companies - Key services: market seminars, market research, & strategy consulting - Served over 450 corporate clients and completed over 2, 200 projects since 1998 - Host semi-annual CEO Summits, offer free weekly research releases, and offer free business benchmarking tools for all types of advisors • Chip Roame background - Mc. Kinsey & Company - Charles Schwab & Company - Tiburon since 1998 Source: Tiburon Research & Analysis 20. 03. 24 – Alphabet © Tiburon Strategic Advisors, LLC™ 17