1.
Mauro Giacobbe - CEO

2.
GET YOUR TICKET TODAY!
www.noah-conference.com
6-7
Old Billingsgate, London Tempodrom, Berlin
JUN20182-3 NOV2017
SAVE THE DATE

3.
FACILE.IT IS AN ITALIAN ONLINE PRICE COMPARISON
WEBSITE FOR FINANCIAL PRODUCTS AND UTILITIES
WHATwe compare
WHEREand why
HOWwe generate revenues
HOWwe add value
• Price comparison for services, not for physical goods
• Services that are «commodities»
• Services that are very expensive for households: insurance, financial
products, utilities
• Only Italy
• Italys is a huge market
• Paid only for contracts sold (commissions), not for leads
• On insurance, commission both on new business and renewals
• Retail customers: increase trasparency and save money&time.
In 2016 Facile.it users saved ~150€M
• Providers: find new customers with a low customer acquisition cost

4.
FACILE.IT IS #1 OR #2 PLAYER AMONG ONLINE PRICE
COMPARISON WEBSITES IN EACH VERTICAL WE COVER
BROADBAND
CAR INSURANCE
GAS & POWER
MORTGAGES
BANK ACCOUNTS
LOANS
• #1 among PCW
• Stable mkt share ≈70%
• >1 mio contracts portfolio
• #1 among PCW
• Strong growth since Q4 2016
• #1 among PCW
• Strong growth since Q4 2016
• #1 among PCW
• Price comparison for bank
accounts, saving accounts,
credit cards
• #2 among PCW
• Mortgages and remortgages
• #2 among PCW
• Loans and secured loans
• Reducing gap with #1

5.
IN A COUNTRY WHERE DISTRIBUTION IS STILL
DONE WITH PHYSICAL CHANNELS
MOTORinsurance distribution
FINANCIALproducts distribution
GAS&POWERand broadband distribution
• 88% of motor premium (16€BN) still on offline channels
• 35k insurance tied agents,5k physical brokers and 200k
insurance sub agents selling insurance products in Italy
• 600 banks with 30k retail branches
• 14k post offices selling financial products
• Most important customers acquisition channels are physical
agents doing door to door activities, telesellers and monobrand shops

6.
WITH HUGE ADDRESSABLE MARKETS
FOR PRICE COMPARISON WEBSITES
BROADBANDCAR INSURANCE GAS & POWER MORTGAGES LOANS
40M vehicles
16€ BN premiums
≈14%-16%
6M (new business)
≈30%
Tied agents
15,5 M broadband
connections
≈6%- 7%
1M switchers + 600k
new lines (-600k
broadband, +1,2M fiber)
<10%
UP TO 3 €BN COMMISSIONS/YEAR
45M
(gas+power)
≈5%
2M+
<10%
Door to door
Telesellers
Monobrand shops
Telesellers
Door to door
45-50€ BN new
mortages/remort.
N.A.
--
<10%
Bank branches
Credit brokers
Post offices
15-20€ BN
new loans
N.A.
--
≈10%
Bank branches
Credit brokers
Post offices
Market size
Churn rate
# contracts/year
# % online
contracts/year
Other distribution
channels

7.
AND A CLEAR MIGRATION TREND FROM OFFLINE
TO ONLINE SALES IN SEVERAL EUROPEAN COUNTRIES
Price comparison
market size 2016
Time
€100m
€500m
€14.5 bn
€23 bn
€15 bn
> €1bn E.g. Car
Insurance GWP

8.
CONSISTENT ORGANIC GROWTH IN REVENUES AND
PROFITABILITY, WITH A STRONG CASH CONVERSION
Revenues (€m) EBITDA (€m)
2009
0,0 0,0
10,0
10,0
20,0
20,0
30,0
40,0
50,0
60,0
70,0
2010 2011 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016

9.
STRONG UPSIDE FOR ORGANIC GROWTH IN
THE NEXT 3-5 YEARS WITH THE EXISTING VERTICALS
MARKETconditions
FACILE.ITactions
Huge addressable markets
Migration from offline channels to online channels
Strong growth on non insurance verticals
More offline media
Conversion rates, conversion rates, conversion rates
A
B
C
1
2
REMAIN OR BECOME #1 AMONG PRICE COMPARISON WEBSITES

10.
Selected Completed NOAH Transactions
Focus on Leading European Internet companies
Covering over 400 companies across 25 online
verticals, a broad range of over 500 investors as
well as 100+ online-focused corporates
Deep understanding of industry dynamics
Ability to add value beyond banking advice
Facilitates overall process and minimizes
management distraction
NOAH Advisors is globally well connected
and has direct access to virtually all key
players in the industry
Knowledge of and strong relationships with
potential buyers’ key decision makers
Proactively finds and unlocks attractive
investment opportunities for leading investors
Annual NOAH Conference in its 8th year
Over 40 years of combined relevant M&A experience
Routine execution of M&A and financing transactions
with sizes of several billion euros
30 successfully completed NOAH Advisors transactions
underline successful transfer of M&A competencies to
the Internet sector
Entrepreneurial mind-set, focused on growing the
business and establishing a reputation for excellence
Ability to deliver top results in short time frames
Highly success-based compensation structures align
interests of clients and NOAH Advisors, and demonstrate
conviction to deliver top results
Creative deal solutions
December 2014
September 2014
October 2014
May 2014
Sale of 100% of
for $800m to
Exclusive Financial Advisor to
Fotolia and the Selling Shareholders
Sale of 100% of
for €80m to
Exclusive Financial Advisor to
Trovit and its Shareholders
Sale of controlling stake in
to
Exclusive Financial Advisor to
Facile.it and its Shareholders
sold 100% of
for $228m to a joint venture between
Exclusive Financial Advisor to Yad2
and its Shareholders
Unique Industry Know-How
Unmatched Network and Relationships
Strong Investment Banking Competence
Full Commitment - We Are Entrepreneurs!
EUROPE’S LEADING INTERNET
CORPORATE FINANCE BOUTIQUE
September 2016
October 2016December 2016
May 2016
Investment in
by
Financial Advisor to Oakley Capital Exclusive Financial Advisor to
10Bis and its Shareholders
®
Marco Rodzynek
Managing Director & Founder
marco.rodzynek@noah-advisors.com
Jan Brandes
Managing Director
jan.brandes@noah-advisors.com
Justus Lumpe
Managing Director
justus.lumpe@noah-advisors.com
The NOAH Advisors Core Banking Team
Nikhil Parmar
Director
nikhil.parmar@noah-advisors.com
10Bis
Acquisition of a Majority Stake in
by
from
at a valuation of €300m
Investment in
Exclusive Financial Advisor to KäuferPortal
and its Shareholders
by
84% Ownership
Financial Advisor to Silver Lake
Investment in
by