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DisclaimerThis document has been provided confidentially by piHub Private Investments GmbH („piHub“) solely for discussion purposes with professional market participants. This document and its content is proprietary information of piHub and may not be reproduced or otherwise disseminated in whole or in part either directly or indirectly without piHub‘s written consent.

The information set forth herein does not purport to be complete and no obligation to update or otherwise revise such information can be assumed. In addition, the information contained herein is preliminary and subject to change without prior notice. Unless otherwise stated, the information herein is current and as of the date of this presentation. This document is not an offer to enter into any transaction with piHub or any of its affiliates or to engage into any investment or advisory relationship. No person in any jurisdiction may treat this document as constituting either an offer to sell or a solicitation of an offer to buy any interest in any investments.

Any investment example or reference herein are for illustrative purposes only. There is no guarantee that such investments, or similar ones, will be available in the future, or that piHub will be able to execute on them or place successfully.

Pursuant to §32 Sec. 1 and Sec. 2 of the German Banking Act (KWG) piHub Private Investments GmbH has approval to provide financial services after §1 Sec. 1a Clause 2 No. 1, §1 Sec. 1a Clause 2 No. 1a and §1 Sec. 1a Clause 2 No. 2 KWG. As such, piHub Private Investments GmbH is under the supervision of the Federal Financial Supervisory Authority

Your Advantages With UsSeismic Shift in Financing OptionsReducing The CostsOnce Basel III Is Fully Phased InFinancing At A GlanceWinning With UsManagementContact

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Content

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Your advantages with us

Disintermediation Network Experience

piHub was formed as a response to the ongoing disintermediation process which has resulted in a disadvantageous cost structure for SMEs, due to bank’s shifting their loan book towards multinational corporates and leaving the SME market underserved

piHub leverages its vast network of capital seeking enterprises and investors in order to match access to capital according to strategic business goals individual portfolio strategies

piHub’s management offers more than 20 years of experience. In the last 10 years it originated or participated in transactions worth near 14 Bln EUR

piHub is the pivotal partner that joins investors seeking suitable opportunities in private markets with business entities looking for capital from investors with compatible strategic goals.

Seismic shift in financing optionsGlobal Influences such as the removal of government guarantees for banks, the first financial crisis with the bankruptcy of Lehman Brothers and the sovereign debt crisis caused higher sovereign debt. At the same time, sovereign financing shifted to central banks.

Scale back of banks’s

Capital

Shift in investment allocation

Increased levels of regulation caused a decrease of 600 Bln. EUR in loans from banks to EU corporations, while GDP increased by 1.1%

Debt instruments issued by corporations increased by 700 Bln. EUR

New business models arise

Opportunities for institutional investors have expanded for investments into Private Equity and Private Debt

Scale back in the provision of capital by banks to those needing it to pursue their strategic goals.

The market for securitization and credit wraps is reduced and almost extinguished

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Reducing the costsThe macro environment and the reduced competition of capital providers caused by disappearing banks is widening the spread between those who can easily access capital and those who cannot. Capital seeking corporations and asset managers are not on investor’s radars and have difficulty accessing them. This leads to large acquisition costs for those who need capital and large investment costs for institutional investors.

The number of banks in the EU has been reduced from over 10,000 to in 1999 to 5,961 in 2016*.

Institutional investors, on average, select only every twentieth investment proposal that is subject to a selection process into their asset allocation, for instance a due-diligence process or fairness opinion.

5% $ 80,0005,961

Acquisition costs for a single mandate by private investment providers can reach up to 80,000 USD.

*Source: ECB Statistics

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Once Basel III is fully phased inBasel III regulation will be in effect until 2019. Under Basel III banks will encounter additional challenges which will further reduce their balance sheet relevant business. In many economies Banks however will not be able to reduce costs in alignment with their reduced businesses.

It can be expected that investors and those seeking capital will be significantly affected byReduced credit availabilityIncreased cost of capital resulting in lower profitabilityDecreased financial innovationAsset and business divestitures

Basel III

Intended to improve banks’ abilities to absorb stress during crisis by strengthening capital, increasing liquidity and improving funding

Increase tier 1 common equityDistinguish between systemically important and trivial banksAdjusted risk weighting for assets (RWA)Central clearing for off-balance sheet business

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...Banks will fadeConventional Financial Institutions remain improper sources of financing for non-standard small- and mid market enterprises.

As a consequence, the market of those enterprises with limited access is underserved

It requires due diligence and underwriting practices that are consistent with the demands and economic limitations of small and middle market companies

Labor Intensive It is more labor intensive than lending to multi-national corporates

It requires monitoring by the lenderMonitoring

Due Diligence

Financing at a Glance

Investment Requirement

Core Business Analysis

Strategic Analysis

Financial Analysis

Placement to Investors

Definition of

Financing Structure

Sanity Check

Guidelines and Regulations

Capital Structure

Profitability

PiHub accompanies businesses in the entire process todetermine its adequate financing structure andplacement process eligible investors

Private Equity and/or Private Debt Structure

Pricing

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Winning with usOur dedicated process generates a more efficient investment and fund raising process, which results in a reduced time to investment.Thereby, we particularly emphasize on the alignment of strategic interests of all parties. With our unique access to a multitude of market participants, we seek to enable the best suitable partnerships in private market investing piHub is the private investment hub that matches institutional investors aiming for suitable investments into Private Markets and for those looking for capital from investors who can align with their individual strategic goals..

piHub ManagementÜber 20 Jahre Erfahrung im Kapitalmarktgeschäft. Durchführung und Leitungmehrerer signifikanter Transaktionen bei denen die Interessenslagen vonInvestoren, Produktanbietern und Fondsanbietern gleichermaßenberücksichtigt wurden.

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Leitungsfunktionen im Bereich KapitalmarktAufbau, Leitung und Ausbau der Abteilung Insitutional Investors für konzeptionelle Lösungen übermehrere Finanzierungs- und Investmentformen hinweg

Dresdner Kleinwort Benson, Baden-Württembergische Bank AG und Landesbank Hessen-ThüringenAktienderivate, Anleihen und Kreditgeschäft

Dozent für Corporate Finance an Frankfurt School of Finance and Management in Frankfurt

Managing Partner & CEO mit MBA der Kellogg School of Management in Evanston, Illinois und der WHU Otto Beisheim School of Management in Vallendar, Deutschland sowie Diplom der Frankfurt School of Finance and Management, Studium der Pharmazie in Frankfurt und Berlin 11

Chairman Strategic BoardSerge Demolière lead the capital markets business sustainably and profitablyas a member of the board of Managing Directors over 14 year at LBB where healso achieved a long-term repositioning of the bank. With his long termexperience in capital markets and strong relationships in the financial industryhe leads the strategic board of piHub.

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Member of the Board of Managing Directors at Landesbank Berlin, Responsibility for the ban‘s Capital Markets BusinessRestructuring, leading and repositioning of the Capital Markets Business from 2001 to 2015

Dresdner Bank AGHead of Equities and Equity Derivatives

Member of the Supervisory Board of EUREX Zurich and Frankfurt AG, Börse Berlin AG and LBB Investment AG

Participation in the 158th Session of the Advanced Management Program at Harvard Business School, Boston, Massachusetts, Diploma as Economist from Hamburg University 12

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ContactpiHub Private Investments GmbHWilhelm-Leuschner-Straße 14

60329 Frankfurt am MainGermany

Phone +49 69 138 281 40Mobil +49 172 694 5019thomas.roell@pihub-pi.compihub-pi.com