FUND II The Cloud and beyond www runacap

FUND II The Cloud and beyond www. runacap. com Runa Capital Confidential © 2013, Runa Capital

CONTENTS OVERVIEW TEAM OPPORTUNITY PORTFOLIO & PIPELINE MODUS OPERANDI SUMMARY AND TERMS www. runacap. com Runa Capital Confidential

RUNA CAPITAL: 3 YEARS IN ACTION Apr 2012 – Final closing $135 M Sep 2010 – 1 st closing: $20 M Dec 2009 – inception: “Cloud Incubator” – $30 M seed fund Dec 2010 – 2 nd closing: $50 M Jun 2010 – 1 st term-sheet 2011 2010 Oct 2010: 1 st deal closed Apr 2010 : Runa: GP incorporated, fundraising started www. runacap. com Apr 2011 – 3 rd closing: Dec 2011: 75 M 12 companies, $10 M invested Dec 2012: 33 companies, $47 M invested Aug 2013 – Nginx raised Round B at 4 x valuation to that of Round A Aug 2012: First exit, 700% IRR 2012 2013 Dec 2010: 4 companies, $3 M invested Feb 2011: Andre Bliznyuk joins Runa as Investment Partner Runa Capital Confidential Jul 2013: Peter Bauert joins Runa as Investment Partner Aug 2013: 42 companies, $75 M invested

RUNA CAPITAL: 3 YEARS IN ACTION 2010 2011 2012 2013 100+ people interviewed 20 people in Runa team hired 5 fired 100+ fundraising meetings 45 LPs subscribed 200+ 100+ 80+ 70+ 4 3500+ 150+ 70+ 14 7 times Runa Capital featured in press start-up events visited keynote speeches given awards received university partnerships launched 2000+ 1200+ 400+ 80+ 50+ 42 projects screened meetings & calls with founders meetings & calls with industry experts due diligence conducted investment committee votes held Investments partnership opportunities brought BOD meetings held training sessions organized engineers and biz. dev. people hired CEOs hired: ecwid 4 continents 22 countries 55 cities 600+ flights www. runacap. com Runa Capital Confidential 6 next rounds raised 1 Exit – 4. 7 x, 700% IRR

RUNA CAPITAL: ASSETS Fund I portfolio $135 M $75 M $32 M 32 10 4. 6 x 1. 3 x 41% fund raised Invested (incl. $4 M in seed stage) reserved for follow-ons portfolio companies (excl. seed) seed stage investments realized return based on 1 exit unrealized ROI unrealized IRR on invested capital Team 2 Founding Partners 3 Investment Partners 2 Investment Directors 2 Analysts Operating Partner/CFO CTO in residence HR Director PR Director Carried multiple by investments Powerful Brand 6 x 5 x "The list of venture investors in Russia is led by Runa Capital" ecwi d 4 x 3 x - September, 2012 2 x 1 x 0 x #8 #7 #6 #5 #4 #3 #2 #1 www. runacap. com Runa Capital Confidential

RUNA CAPITAL: WHY WE ARE SPECIAL? ecwid “ • Brought 10+ partners (Wix, Go. Daddy, 1&1, Endurance, Verio etc) • Recruited president & GM North America – Jim O’Hara (ex. Live. Office) “As an entrepreneur you look for investors who can bring real value to your company, [the] team at Runa Capital are exactly this type of investor” Gus Robertson, CEO Eruditor had a deal with Intel Capital on the table, when I decided I want Runa Capital to join the round, so I had to persuade Intel to give part of it to Runa. . . ENTREPRENEURIAL HANDS-ON EXPERTISE • Positioning Runa as co-founders > better deal terms for Runa • Lending our own expertise to portfolio companies > product, business development, operations, fundraising • Enabling business growth of our portfolio companies: recommend good people, introduce right partners, bring to new markets UNIQUE ABILITY TO GENERATE PIPELINE • Active PR efforts and high visibility > investment in Runa brand • Our reputation of “partner of choice” for most foreign and local funds and IT corporations > easy syndication • Active presence in regions of Russia and Ukraine > virgin markets • Ability of screening efficiently huge amount of projects – through access to many best industry experts and academia from leading universities SPECIFIC AREAS OF EXCELLENCE Egor Rudi, Founder and CEO • #1 VC firm in Cloud solutions for SMB: 35 industry insiders as LP’s, 10 x “Runa fully appreciates how to build products that satisfy customers, [this] makes Runa a truly special partner for any early stage technology company. “ more – advisors and friends. Strong affiliation with major players: United Internet, Go Daddy, Endurance, Parallels etc. • #1 VC firm in Russia and CIS: 100% brand awareness, strong presence in regions of Russia • We are very good in several other areas: complex software/strong engineering expertise, specific regions – SEA/Lat. Am, specific verticals – science/education/government . ” Jeremy Levine, partner at BVP www. runacap. com Runa Capital Confidential

RUNA CAPITAL: #1 VC FIRM IN RUSSIA & CIS Partnerships LP’s Successful Entrepreneurs Igor Borovikov, Igor Daniloff Leading VC and IT firms Alexander Galitsky Alexander Katalov Collaboration Featured with hi-tech universities and incubators in top analytical, venture social media 850 k www. runacap. com views of Runa video on Youtube 35 k of twitter followers combined 15 k of Facebook subscribers combined Runa Capital Confidential

RUNA CAPITAL: #1 VC FIRM IN CLOUD FOR SMB Network: 250+ professionals Runa Network 6 venture partners: • Seasoned IT Entrepreneurs and Investors (Igor Borovikov, Alexander Galitsky, Igor Daniloff, Alexander Katalov, Achim Weiss, Oleg Tscheltsoff) 45 limited partners: Rafael Laguna Thomas Strohe Warren Adelman Achim Weiss, Jochen Berger Thomas Gorny • 35 successful IT entrepreneurs + 10 asset management /investment boutiques 200+ industry experts: • professionals from leading companies in cloud software, virtualization, IT security, hosting and many more Andreas Oleg Gauger Tscheltzoff, Michael Reed J. Patrick Caldwell Pulvermüller, Choupak www. runacap. com Runa Capital Confidential Tracy Conrad

RUNA CAPITAL: #1 VC FIRM IN CLOUD FOR SMB Ecosystem: leading firms in Cloud SMB www. runacap. com Runa Capital Confidential Portfolio cloud companies

TEAM: FOUNDING PARTNERS Serguei & Ilya founded SWSoft, later acquired Plesk and Parallels and re-baptized SWSoft to Parallels. With over 1, 000 employees and $150 M+ revenue, the company is the market leader in Automation for Cloud Service Providers, Container-based server and Desktop virtualization. Serguei & Ilya founded the consumer electronics manufacturer; now the largest in Russia with a $500 M/year turnover Serguei & Ilya founded the leading accounting and ERP software distributor in SEA Serguei & Ilya acquired assets that became Acronis, specializing in physical and virtual data management and disaster recovery software, the company employs 850+ people and generates over $150 M revenue. Serguei & Ilya invested $800 K in GFI, the provider of a complete set of IT solutions for SMB. Investment is partly exited, with 5 x ROI and IRR 40% 1995 -2000 • Serguei Beloussov Founding Partner www. runacap. com 2005 -2009 2001 -2005 Sergey advises on key deals including Nginx, DMS Technosoft and ECWID; value added to Runa : ― International network ― Technology vision ― Entrepreneurial spirit Runa Capital Confidential Serguei & Ilya invested a total of $3 M in Automated. QA provider of tools for managing software development and testing. The investment is partly exited with total implied ROI in excess of 7 x and more than 40% IRR • Ilya Zubarev Founding Partner Ilya focuses on key deals, including Dnevnik, Lingua. Leo and Eruditor; value added to Runa : ― Deep operational experience ― Deal structuring ― Entrepreneurial spirit

TEAM: INVESTMENT PARTNERS Dmitry Chikhachev • Business executive with 18+ years of broad cross-functional experience: CEO/COO in Uvenco (scaled from $0 to $25 M in revenue), Head of international business development in Ritzio Entertainment Group ($600 M revenue/$75 M overseas operations), HR Director of LM Ericsson CIS. • MSc Moscow Institute of Physics and Technology (Phys. Tech), MBA American Institute of Business and Economics • Dmitry’s investment focus is SMB cloud, complex SW, mobile • Special expertise: - M&A, Greenfield project management, HR management Andre Bliznyuk • Investment and corporate finance professional with over 10 years of experience: Goldman Sachs, UBS, Sistema. Over 20 IPOs and other fundraising projects – for a total amount of tens of US$bn – including Mail. ru, Comstar, Sistema IPOs on the LSE. • MA Moscow State University • Andre’s investment focus is vertical markets + international opportunities • Special expertise: - Financial sector - Investor relations - Public capital markets ecwi d www. runacap. com Runa Capital Confidential Peter Bauert • Finance and Operational executive with 20+ years experience. Recent roles include CFO/COO at Parallels ($150 M+ Revenue) and EVP at FAST (Acquired by MSFT for $1. 3 B). • BS Computer Science + MBA (Dartmouth College - Highest Distinction) • Peter focuses on cloud-solutions for SMBs, as well as North American opportunities • Special expertise: - Tax structuring - Financial mgmt/reporting - Recruiting

TEAM: BUSINESS SUPPORT Oleg Melnikov, CTO in Residence Focus on supporting portfolio companies in product development & due diligence of technology/engineering teams for investment prospects. Joined Runa in 2012, has worked together with Serguei/Ilya for 12+ years technology track in SWSoft/Parallels: SVP, VP of Automation, Director of Technology, Product manager at Parallels. MSc in Computer Science at MIPT > full technology & dev. team due diligence > CTO coaching on engineering processes ecwid Vera Shokina, Partner/CFO Focus on managing the investment back-office and finance of the fund as well as supporting portfolio companies in corporate matters. Joined Runa in 2010. 15 years in finance: VP of Silicon Valley Bank, GE Capital Portfolio Manager. Chairman of American Business Association of Russian Professionals (Am. BAR). MBA, Finance Academy > Coordinated the closing and post-closing matters for 30+ deals in 3 years. Dmitry Pozdyakov, HR Director Focus on recruitment for portfolio companies, supporting HR processes & due diligence of founders. Joined Runa in 2012, has worked together with Serguei/Ilya for 6 years. 8+ years Recruitment professional: Yota Lab, Yota, Acronis, NTS Leader. Master degree in HR Management from Academy of Public Administration >20+ engineers and business hires for portfolio companies, e. g. : >Product manager for B 2 B Liliana Pertenava, PR Director Focus on promoting the brand of Runa Capital & building PR, internal communications, viral and social media marketing for portfolio companies. Joined Runa in 2010 4+ years track record in PR: early career as a TV and radio host, in past four years was responsible for coordinating activities in PR, GR, marketing communications in media, R&D and IT sectors. >Coordinated product launch, featured Dnevnik in top publications www. runacap. com Runa Capital Confidential

THE OPPORTUNITY: TRIPLE TSUNAMI Mobile Devices 2007 2012 2017 3. 3 M 130 M 500 M? 0 60 M 400 M? Smartphones Sold 120 M 650 M 2 B? Facebook users 50 M 1. 0 B 1. 8 B? $150 M $5. 1 B $15 B? 1. 2 B 2. 5 B 3. 6 B? Amazon AWS Revenue $326 M $2. 2 B $15 B? Salesforce. com Revenue $500 M $2. 3 B $10 B? $5 B $500 B? i. Phones sold i. Pads sold P 2 P Internet Facebook revenue Internet users Cloud Computing Cloud market www. runacap. com Runa Capital Confidential

THE OPPORTUNITY: PERFECT STORM Apple – what’s next? Google – becoming a platform Cisco - Software. Defined Networking HP – nobody needs desktops Intel vs. Qualcomm Microsoft – not a default www. runacap. com Dell – where to buy your server? NO ONE IS SAFE Facebook – expectations, expectations … Runa Capital Confidential

INVESTMENT THEME 1: small business – BIG MONEY • Hosting and Telco providers are building a complete Cloud ecosystem of mass-market cloud applications for SOHO/SMB, as the market is set to explode over the next years 1: – 48% was the growth in new data creation in 2012, reaching 2. 7 Zettabytes – SMB IT budgets are experiencing 4 x growth vis-à-vis all IT budgets – 4 M SMBs entered cloud market in 2012 – Global SMB cloud market will grow by 28% year over year through 2015 Global Cloud Market 96 Business applications 46 M reviews $137 M in 2012 sales Web presence and web applications Infrastructure as a service Dec-15 Examples from Runa I portfolio: ecwid Cloud ERP for SMB and enterprises; $120 M in 2012 sales www. runacap. com Hosted communication & collaborated 45 Dec-12 Business software on a subscription basis; $3 bln in sales in 2012 Total Global It Spending Runa Capital Confidential 40% 60% Enterprise $780 bln SMB $510 bln

INVESTMENT THEME 2: VERTICALS DISRUPTED (opt 2) Next generation IT services bring new opportunities into many traditional verticals: Finance, Healthcare, Education, Public sector – largest demand for improvement and growth potential: disruptive innovation in such segments is leveraged by Social & Mobile penetration IMPROVEMENT POTENTIAL : Healthcare, Education and Finance are among the major sectors to benefit from new IT services FINANCE doubled the number of users to 2 M in 1 H 2012 (bubble size – worldwide industry size in US$ bln) the largest P 2 Plender in US, has loans for $2. 3 B+ as of Aug 2013 HEALTHCARE provider or rapid genetic testing, accumulated a database of more than 100, 000 individuals after 4 years since launch, and raised 50 M+ in financing in 12/12 EDUCATION offering online courses. In 2 years since its launch, it has 62 leading American universities among its partners Source: IBM Institute for Business Value www. runacap. com Runa Capital Confidential

INVESTMENT THEME 3: COMPLEX SOFTWARE System Software, Big Data, Distributed Processing Middleware, Paa. S (Platforms as a Service), Development Tools – in demand because of infrastructure changes. Massive growth applications usage requires strong underlying technologies. Advanced science requires complex algorithms and distributed data processing Our Area Of Excellence And Competitive Advantage • Access to top engineering and scientific expertise for making sound judgment about the viability of technology & provide valuable advice to developers. • Very few VC look at complex SW – less competition, best deals at unique terms. No amateur investors – no inflated valuations. Founded in 2008 Cloudera reached $100 M in revenues in 2012 raised $65 M in series E in 12/12 10 gen - the company behind Mongo. DB, the leading No. SQL database - raised $42 M in series E in 5/12 In 2009 VMware acquired Spring. Source – an application development framework for enterprise Java - for $362 M Cisco acquired Israel’s Intu. Cell, developer of advanced self-optimizing network (SON) software, for $475 M www. runacap. com Runa Capital Confidential Michael Widenius Paul Maritz Michael Dell Bertrand Serlet

PORTFOLIO: GROWING INTO BIG FISH Company ecwid Possible Valuation Exit Potential Possible valuation of $1 B: strong market Current user base of 2. 5 M monthly unique users (2. 5 x annual growth) and potential for 10 x scaling. Example of transaction with education solution provider is the takeover of Blackboard Inc. by Providence Equity Partners at $1. 53 B in 2011 $1, 000 M $270 M Possible $1 B market cap: unique technology powering the busiest sites of Internet incl Facebook, Linkedin, Word. Press etc. Consistent increase in Nginx market share and 3 x growth of NGINX-powered domains in 2012. Preceding M&A in OSS : My. SQL by Sun Microsystems for $1 B in 2008, Jboss by Red Hat for $350 M (15 x sales) in 2007, Xen. Source by Citrix for $500 M in 2007 $1, 000 M $100 M Possible valuation of $1 B based recent transactions in P 2 P lending, including the investment in Leneding Club by Google, valuing the company at $1. 5 B (Lending Club had $28 M in revenues in 2012, ZOPA’s LTM revenue is $6 M as of June 2013) $1, 000 M $90 M Potential valuation of 300 M and return of 60 x. Outstanding traction : 3 MUSD recurring revenue from contract with Nissan just in first year, strong pipeline: Mazda, Honda, Isuzu – potential to scale 10 x in 2 -3 years. Strong interest from Microsoft (Platinum partner status awarded) $300 M $90 M Possible valuation of $300 M and return of 60 x: continuous rapid growth (3 x in 2012) and dominating market position on key social platforms. Preceding transactions in e-commerce space include the acquisition of Magento by e. Bay for $180 M in 2011 $300 M $90 M $300 M potential: outstanding performance (4 x revenue growth in 2012 to current run-rate of $3 M+), successful launch in Brazil to start international expansion. Recent transactions in education technologies: Open. English $40 M Series C round, and Desire 2 learn $80 M Round B taking place in 2012 $300 M $75 M Potential to scale company revenue s to $100 M with implied valuation above $300 M following the recent transaction multiples in educational tech and marketplaces. Current revenue run-rate of $8 M and steady 2 x annual growth make it achievable just in 3 years $300 M $40 M $755 M TOTAL www. runacap. com Value to Runa Capital Confidential

PIPELINE: MORE BIG FISH Company Possible Valuation Exit Potential Praktika Value to Runa Cloud electronic document workflow system for government with 3000+ clients, 65 000+ end-users and $25 M revenue in 2012. Serves Tatarstan republic and Ministry of communications of Russia. HQ in Kazan. $1, 000 M Vertical markets $500 M www. financeit. ca The platform allows businesses to offer consumer financing to their customers at the point of sale with any device. Since launching in January of 2011, the company signed up over 2, 400 merchant Partners and processed over $370 MM in loans. The lending capital comes from institutional lenders such as banks. Vertical markets www. stoic. com Developer of next generation programming platform that allows non-technical users to create device independent business applications out of any structured data source. Seed investors include VMWare and Paul Moritz (CEO Pivotal). $400 M Complex SW Online service/marketplace for SMB to sell outstanding invoices to decrease working capital needs. 200+ active borrowers and $60 M of capital advanced to date through the service. HQ in London. $300 M Cloud for SMB 3 D platform provider for gaming and training simulators – of unique quality and precision. Focus on scientific research, analysis, visualization and virtual reality. $1. 2 M in revenue and $200 k in profit in 2012. HQ in Tomsk. $200 M Complex SW Data flow management solution between Saa. S applications. Elastic. IO offers white label solution to ISVs whereby they can embed in their website an iframe widget with integrations provided by Elastic. IO with predefined use-cases for their end-users. $200 M Cloud for SMB www. sd-praktika. ru www. marketinvoice. com www. unigine. com www. elastic. io www. runacap. com Runa Capital Confidential

MODUS OPERANDI: PRO-ACTIVE GENERATION OF PIPELINE BUILDING STRONG INTERNATIONAL BRAND WITH TECHNOLOGY FLAVOUR • Featuring in industry major media. Speaking at the largest events. Providing expertise to government and industry boards. COLLABORATION WITH KEY UNIVERSITIES, INCUBATORS AND ACCELERATORS • Partnerships with universities in Russia: MIPT, SPb. GU, Nsk. GU, MSU. Engagement with educational activities and contests: Microsoft Imagine Cup, Techno. Cup, Phys. Tech Union. Specific startup training courses held at Runa University. STRONG REGIONAL PRESENCE IN RUSSIA • Active participation in regional events in Russia and CIS, strong connections with incubators and accelerators, integration into startup community (Innopolis, IT Parks in Kazan, Astrakhan) RELATIONSHIPS WITH MAJOR VC FUNDS AND IT CORPORATIONS • Technology-focused partnerships with leading VCs. Providing market expertise to Intel, Microsoft, Google, CISCO. Serving on the board of Microsoft Seed Fund. > #1 in the List of Top 20 Venture Funds in Russia by Hopes & Fear - March, 2013 > > The. Next. Web Russian Startup Awards – The Best Investor - February 2013 > Best Venture Capital Team Russia on Private Equity Awards - October, 2012 The list of venture investors in Russia is led by Runa Capital … - Techcrunch. com - September, 2012 www. runacap. com Runa Capital Confidential

MODUS OPERANDI: EFFICIENT SCREENING ABUNDANT PIPELINE • With huge number of deals that appear on our radars we feel no pressure to deploy the capital - can be very picky and selective ACCURATE SCREENING PROCESS • Checklists are used to screen the flow. Looking at 3 dimensions: People, Product and Business – we only accept projects A-rated in all 3 dimensions INVOLVING EXPERTS • Our Venture Partners, our LPs and their connections are involved in screening & due diligence – we base our judgment on experts opinions CROSS-BORDER BENCHMARKING • Access to deal-flow in many geographies gives us a privilege to compare business plans to actual performance of peers in more mature markets www. runacap. com 1. 2. 3. 4. 5. 6. 7. 8. FOUNDERS SIDE Have good references Clear past achievements Hard working & ambitious Quick/sharp/responsive Know the subject in detail Have good education Active and resourceful Invested some of their own money Focused on single project 1. 2. 3. 4. 5. 6. 7. PRODUCT SIDE Killer features exist – WOW effect possible Extreme technology expertise Focus on core functionality, usage of 3 rd party products Developer’s competence up to the tasks IP-heavy, hard to clone Real life customer tests Easy to understand technology 1. 2. 3. 4. 5. 6. 7. 8. 9. BUSINESS SIDE Market is large and growing Clear value proposition Product is easy to sell Realistic plan for competition Business model is simple High margins In focus of our expertise Scalability of operational model Strong marketing plan 3, 500+ 2, 000+ 80+ projects received and found 47 screened term-sheets signed Runa Capital Confidential 42 deals closed due diligence conducted

MODUS OPERANDI: ADDING PRACTICAL VALUE Product development Financing and liquidity • • • • Assessment of development team skills Talent recruitment support Assistance with team skills improvement Management and motivation advisory Product plan reviewing and improvement Process setup and execution overview Product design and architecture Development of a long-term equity story Finding next round of investors and structuring Support with fundraising and negotiations Establishing corporate governance framework Establishing stock-based incentive schemes Building the internal infrastructure for finance, audit, investor relations Business development Operations • • • Business model development and validation Recruitment of key management talents Establishing partnerships and facilitating negotiations with partners and customers Support with international PR and marketing Practical guidance on getting traction and scaling Participation in business plan development and execution Geographical expansion support www. runacap. com • • • Support company structuring and administration Support in setting up the office and administration Financial planning and budgeting, accounting and reporting, tax advice and legal support Advisory in filing domestic and foreign patents Reconciling cost structures and negotiating with key vendors Maximizing value for shareholders Runa Capital Confidential

MODUS OPERANDI: ADDING VALUE - CASE STUDIES ecwid • • High performance web-server, hosts >13% of all domains worldwide (>26% across top-1000). Rapidly gaining market share (number of NGINX websites tripled last year). Powered by NGINX: Facebook, Netflix, CNN, Techcrunch, Yandex, Wordpress, Groupon Full-fledged shopping cart solution implemented as embeddable AJAX widget – cross-platform and fully integrated with all major payment & delivery systems. Powers >300, 000 store-fronts worldwide, processing 10 M transactions per month Set-up of tax-efficient legal structure: IP holding company in Luxembourg, SW development in Russia, reseller/distributor in the US. execution of channel strategy: referred to 10+ large partners, facilitated negotiation (Yola, Wix, Verio, Go. Daddy, Strato, Base. Kit, CM 4 All, Endurance etc). Channel revenue grew from 0 to 15% of total Recruited senior international executive (Jim O’Hara) as the President & GM North America – to take responsibility for channel sales development operations international PR campaign: referred PR firms in EU/US, organized a number of good publications – including USA Today/Techcrunch Implemented management accounting procedures and regular financial reporting in line with IAS Implement employee stock options plan – creating stock options policy and individual agreements obtaining the status of Skolkovo resident and tax rebates for Russian company Opened merchant account in the US for reducing sales commission from 5 to 2% www. runacap. com RUNA contribution > > > > Contributed in creating the concept of a commercial product/monetization strategy Set-up of international legal structure with holding company on BVI, R&D in Russia and Sales/Marketing in the USA Introduced to Michael Dell and secured funding from his Fund MSD Capital Brought partnership with Parallels which integrated Nginx software into Plesk Panel Solution Recruited international senior executive, Gus Robertson (former VP Global Business Development at Red. Hat) as CEO Helped to apply for Skolkovo resident status resulting in tax benefits for Russian company Introduced to the leading web-hosting companies Referred to international PR agencies and helped get good media coverage including Techcrunch, Financial Times, Forbes. Runa Capital Confidential

INVESTMENT PHILOSOPHY: STRATEGY & PRIORITIES FOCUS ON KEY TEAM COMPETENCIES • We select projects were substantial value is created through software engineering or other related domain expertise PORTFOLIO SYNERGIES AND LEVERAGE • We aim to efficiently utilize the resources of existing portfolio and other related companies (e. g. Parallels, Acronis, Acumatica, 1&1/United Internet, etc. ) – as an intellectual resource, technological partner and sales channel. BARRIERS AGAINST COMPETITION • We look for projects with a high degree of ‘hard-to-clone’ or ‘long-to-clone’, potentially patentable IP – as a natural barrier against competition and our team’s area of excellence. EFFICIENT USE OF CAPITAL • We aim to invest on co-founder terms and prioritize projects with sensible development and marketing timeframes and budgets, and clear breakeven points ENABLING GROWTH • We pro-actively enable growth of our portfolio investments through putting them into right business environment and providing practical support/guidance in engineering, operations, marketing strategy, finance and, ultimately, obtaining liquidity. www. runacap. com Runa Capital Confidential

SUMMARY: FUND II KEY TERMS Name: General partner: Purpose: Size: Term: Investment Period: Preferred return: Carried interest: Management Fee: Closing timelines: Min. Commitment: Administrators: Counsels: Auditors: Advisory Board: Invest Committee: Reporting: www. runacap. com Runa Capital Fund II LP, a Cayman Islands limited partnership Runa Capital, a Cayman Islands exempt company Venture capital investing, primarily through acquiring, holding and disposing of equity and equity-linked securities issued by private companies. US$200 million closed-ended, 10 +1+1 years 4 years, no re-investment 1 x 20% 2. 5% per annum on committed capital during investment period, on net invested capital thereafter. 1% set up fee. Initial closing March 31 st, 2014 (30% of fund size contributed by GPs) Final closing 18 th months from initial closing US$1 million Delphi Management (Bermuda) Greenberg, Whitcombe, Takeouchi (US); Manatt, Phelps & Phillips (US) Price. Waterhouse. Coopers 5 members – all representing LPs: 3 largest LP + 2 nominated by GP 2 Founding Partners + 3 Investment Partners Quarterly business update, Annual audited financial statements Runa Capital Confidential

SUMMARY: EXPECTED CASH FLOWS AND RETURNS 1. 0 0. 5 0. 0 2021 Q 4 2021 Q 2 2020 Q 4 2020 Q 2 2019 Q 4 2019 Q 2 2018 Q 4 2018 Q 2 2017 Q 4 2017 Q 2 2016 Q 4 Exit returns probability distribution Years to exit/exit ROI 4 5 Total www. runacap. com 2016 Q 2 -1. 0 2015 Q 4 -0. 5 2015 Q 2 16 2. 5% 20% 0. 15% 6 Capital called Cash return Net cash flow 1. 5 2014 Q 4 Investment period (quarters) Management fee Carried interest Fund fees (audit, administration) Follow-up time after initial investment (quarters) 2. 0 2014 Q 2 Fund investment timeline and fees Initial Investors Cumulative Cash Flows (per dollar of Committed Capital) 2. 5 US$, per dollar of commitment MODEL OUTCOMES • Quarterly capital calls of 5% of LP commitment for 4 years • The maximum of 80% of total capital commitments will be called by Q 1 2018, when the fund is expected to start generating positive net cash flows from exits • Estimated investor IRR 31% (net of fees and carry) • Plain payback period 5. 5 years, cash return 3. 3 x Runa Capital Confidential 0. 0 x 20. 0% 15. 0% 35. 0% 1. 0 x 15. 0% 10. 0% 25. 0% 4. 0 x 5. 0% 10. 0% 7. 0 x 5. 0% 10. 0% 15. 0% Total 50. 0% 100. 0%

CONTACT US Dmitry Chikhachev Andre Bliznyuk Peter Bauert Managing Partner Email: dc@runacap. com Mob: +7 916 156 75 03 www. runacap. com Email: ab@runacap. com Mob: +7 985 762 46 20 Runa Capital Confidential Email: pb@runacap. com Mob: +1 239 728 8725