Claranova : Presentation 2020-2021 Half-Year Results

Half-Year Results

FY 2020-2021

Claranova, a technology company created just five years ago

A recapitalization in June 2015 with ≃€20m in capital invested in the development of new activities(1)…

…Revenue of €409m in FY20, EBITDA margin of 8% in H1 FY21 and net cash of €47m at 12/31/2020… …with an international dimension: 95% of revenue generated outside France…

…and considerable potential remaining : target of €700m with an EBITDA margin >10% by FY23

Recapitalization	A diversified international technology
New vision	player
Sale of non-strategic businesses	Considerable growth potential remaining

		Revenue FY20	€409m
3Y CAGR(2) FY12-15	-3%	3Y CAGR FY17-20	46%
EBITDA FY15 %	-11%	EBITDA H1 FY21 %	8%
Net Cash 06/30/2014(3)	-€18m	Net Cash 12/31/2020	+€47m

2	Notes: (1) From proceeds of €34.5m from the capital increase of June 16, 2015; (2) See the glossary at the end of the presentation; (3) Net cash at June 30, 2014 before
recapitalization and debt restructuring in FY15.

.

Present in 3 technology sectors: personalized e-commerce, software, IoT(1)

A diversified technology player making it possible to share risk and growth drivers

Strong growth through both organic development and acquisitions in high potential sectors

A specific dynamic in each sector: mature technologies, business models, valuation structure

FreePrints	Photobooks	Geographic	Photo Tiles and	Acquisitions of	Acquisitions of
expansion	Personal Creations
		Cards	CafePress
					FreePrints Gifts

Transition from physical to	Acquisitions of Upclick,	Proprietary software	Transition from a perpetual license
online sales	Lulu, Lavasoft		sales model to a SaaS(1) model

Launch of	Development of	Strategic partnerships	Commercial partnerships	Accelerating rollouts
myDevices	the IoT tool,
	Cayenne

3	Note: (1) See the glossary at the end of the presentation.

a global player in personalized e-commerce

VISION

+ GEOGRAPHIC EXPANSION
The only truly international player:
first launch in the US in 2014,
a global presence in 15 countries in 2020		+ PERSONALIZED GIFTS
	+ PHOTO PRODUCTS	+ PHOTO PRODUCTS
+ PHOTO	+ PHOTO	+ PHOTO

A mobile and intermediary

(fabless(1))

business model

Launch of FreePrints, a mobile intermediary freemium(1) model that has revolutionized the printing market

Monetization of the customer base: a free Photo product making it possible to acquire customers at low-cost,subsequently converted into higher- margin FreePrints offerings

Opening up of the personalized gift market, twice as large as the photo market, with multiple synergies (switch to mobile, pooling the customer base, etc.)

New growth opportunities with the launch of new products and vertical applications to become the leading personalized e- commerce player

A shared platform for all PlanetArt offerings

	Logistics	IT		Customer acquisition	Content		Tens of millions of
	Management of suppliers	IT infrastructure, security, data		A centralized marketing	Advertising, digital content,
			customers
	(production, transport)	analysis and management		investment strategy	marketplace
4	Note: (1) See the glossary at the end of the presentation.

a holistic approach to the world of software

Segment

An objective of controlling the entire value chain

From generating traffic to its

monetization and conversion to our

SaaS solutions

To optimize customer acquisition

costs for our proprietary SaaS products

Traffic

Monetization

WebCompanion

SaaS software

PDF Security Photo

• 20m(1) unique visitors / month

Traffic generated from paid and free

content

• 5m(1) visitors / month

Traffic monetization through external partners or conversion to Avanquest products

• 80k(1) new users / month

Acquisition of new subscribers with a

lifecycle of several years

• 1m(1) active users

valuation

5	Note: (1) Indicative figures