Talend S A : Investor Presentation - November 2020

Talend Investor Presentation

November 2020

Safe Harbor Disclosure and Non-GAAP Financial Measures

This presentation and the accompanying oral presentation contain forward-looking statements withinthe meaning of Section27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements

generally relate to future events or our future financial or operating performance. In some cases, youcan identify forward-looking statements because they contain words such as "may," "will,""should," "expects," "likely," "plans," "anticipates,""could," "intends," "target,"

"projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or similar terms or expressions orthe negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking

statements include, but are not limited to, expectations with respect to our financial and operating results, our prospectsorf future growth, our ability to strengthen our positionin the cloud, our free cashflow, the future demand and behavior of customers in the data

integrationmarket, the evolutionof our marketplace, our transitiontocloud-based offerings, our ability to capture an increasing share of the big data andcloud integration market, and the impact of the COVID-19 pandemic onour business and operations, results of operations, financial condition, and liquidity andcapital resources. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to inherent risks, uncertainties and changes incircumstance that are difficult or

impossible to predict. Consequently, you should not rely on these forward-looking statements. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of such uncertainties, risks, and changes in

circumstances. Those risks, uncertainties and assumptions includegeneral economicconditions, including the length and severity of the COVID-19 pandemic; the impact of COVID-19 on economic activity and our business, customers, third-party partners and employees; our ability tocontinue to deliver and improve our products and successfully develop new products; customer acceptance and purchase of our existing offerings andnew offerings, including conversion of leads to sales; our ability to successfully transition to the cloud; our ability to successfully manage our leadership transition; our ability toattract, train and retain highly-skilled and qualifiedemployees, including senior-level managers and engineers; the impact of the transition to cloud on our professional services revenue; our ability toretainand increase sales to existing customers and generate new customers; the market for data integration solutions, particularly ourcloud and big data integration solutions; interruptions or performance problems with our technology or infrastructure; competitionfrom other products and services; the sufficiency of our cashandcash equivalents to meet our cash needs; the unpredictability and length of our sales cycle; our ability to deliver high-quality customer support; any security incidents or breaches or perceptions of security incidents or breaches; our ability to expand and trainour sales force; the performance of our channel partners; our success insustainingand expanding our international business; our ability to generate significant volumes of sales leads fromdigital and virtual marketing efforts; the

seasonality of our business; our ability toprotect our intellectual property, including trade secrets, patents and copyrights; costs resulting from any claimof infringement or other violations by us of another party's intellectual property rights; our ability to comply with

government laws andregulations; natural and man-made disasters, including pandemics; andexposure topolitical, economic and social events in France, the UnitedStates, United Kingdom, China and other jurisdictions in which we operate andhave customers.

The forward-looking statements contained in this presentation are alsosubject to other risks and uncertainties, and the foregoing list of factors is not exclusive. Additional risks anduncertainties that could affect our financial and operating results are includedunder the captions "Risk Factors"and "Management's Discussion and Analysis of Financial Condition and Results of Operation"and elsewhere in our most recent filings with the Securities and Exchange Commission, including in our most recent annual report on Form 10-K filed with the SEC, our quarterly reports on Form 10-Q, andother filings with the SEC, all of which are available on the Investors section of Talend's website at https://investor.talend.comand the SEC's website at www.sec.gov. The forward-looking statements in thispresentationare

based on information available to us as of the date hereof, and we expressly disclaim any obligation to update any forward-looking statements provided toreflect any change inour expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law.

This presentation also contains estimates and other statistical data made by independent parties andby us relating tomarketsize and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the statistical and other industry data generated by independentparties and contained in this presentation and, accordingly,cannot guarantee their accuracy or completeness. Inaddition, projections, assumptions and estimates of its future performance and the future performance of the industries in which it operates are necessarily subject toa high degree of uncertainty and risk due toa variety of factors. These and other factors could cause results to differ materially from those expressed inthe estimates made by the independent parties and by us.

In addition tofinancials presented in accordance with generally accepted accounting principles in the UnitedStates ("GAAP"), this presentation includes certain non-GAAP financial measures. The non-GAAP measures have limitations as analytical tools andyoushouldnot

consider them in isolationor as a substitute for the most directly comparable financial measures prepared inaccordance withGAAP. There are a number of limitations related tothe use of these non-GAAP financial measures versus their nearest GAAP equivalents. Other

companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance. For example, we define free cash flow as net cash usedin operating activities less net cash used in investing activities for purchases of property and

equipment and intangible assets. Free cash flow as definedby us may not be comparable to other similar measures used by other companies, which could reduce the usefulness of free cash flow as a comparative measure. We urge youto review the reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measures set forth in the appendices tothe presentat ion, and not to rely on any single financial measure to evaluate our business.

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Investment highlights

Integration and data trust leader

At the center of the cloud data integration and integrity market

High-growth market

Multi-cloud and hybrid cloud enabler

109% constant currency Cloud ARR growth YoY1,2

Powerful long-term tailwinds

Data explosion, diversity of data users, data gravity shift to cloud

Highly-visible recurring revenue

$269M Annual Recurring Revenue3

18% constant-currency subscription revenue growth4

Strong retention and expansion

107% Dollar-Based Net Expansion Rate on a constant currency basis

1. Cloud ARR defined as the annualized recurring value of all active cloud-based contracts as of the end of a reporting period.
2. Cloud ARR growthis calculatedas the growth in Cloud ARR as of September 30, 2020 against Cloud ARRas of September 30, 2019.
3. ARR defined as the annualizedrecurring value of all active contracts as of the end of a reporting period.
4. For the three months ended September 30, 2020 as compared to the corresponding period from the prior year.

3

3

Data is the new competitive advantage

Improved	Better customer	New business
operations	experiences	models

Streamlined supply chain,	Customized products,	Digital transformation,
efficient marketing campaigns	real-time feedback	data monetization

4

4

Several shifts in the landscape are making data strategies increasingly complex

More data		More users		Shift to hybrid		More regulation
(volume, velocity, sources)			environments
10-fold rise		3x growth rate		>75% of organizations		GDPR, MiFID II
in worldwide data by		data experts in		will have adopted a
2025¹		business vs. IT by		multi-cloudand/or
	20202		hybrid IT strategy by
			20213

1. Harvard Business Review: "What's Your Data Strategy?," May-September 2017
2. Gartner: "How toEnable Self-Service Analytics and Business Intelligence: Lessons From Gartner Award Finalists," October 2017

3. Gartner: "Predicts 2019: Increasing Reliance onCloud Computing Transforms IT andBusiness Practices."	5
	5

Amidst this data chaos, companies and users are left confused and unable to use their data successfully

Companies have used	62% of employees do
tactical, reactive
not trust the data¹
approaches to manage
they deliver, use or
their most strategic
process.
business asset.

	6
1. Talend , data Trust readiness report, July 2019	6

Talend takes a unified approach to solve this data chaos and deliver data the entire organization can trust

DataData

integrationquality

✓ All the data users

Talend

Data

Fabric

• All the data sources
• All use cases

ApplicationData

integration governance

• Across hybrid, multi- cloud environments

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What makes Talend Data

Fabric different?

Unified - Data integration, integrity and governance in single platform with real-time data delivery and self-service data access and management

Flexible - Connect anything to anything - any data source or type - and deploy anywhere - cloud, hybrid, and on premises

Grows with you - Scale without penalty and easily

integrate with today's innovations and what's coming next

8

Talend Data Fabric helps our customers achieve incredible business outcomes

Turn raw data	Innovate faster	Achieveoperational	Lower costs
into revenue	efficiencies	and risk

£ Millions /	75% faster	11% increase	$1 Billion /
year of additional	development for new	in revenue per unit	year savings with faster
revenue from third-party	projects		clinical trials
partners

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9

Cloud data integration is driving the market growth

Massive ecosystem	Evolving to cloud		Powering growth
$19B	$8B			$2,779 26%
		of data
Cloud	$1,337	integration
Data Integration and		revenue
'20-'23 CAGR: 11%	$23B
Orchestration in 2020¹	in 2023²
		2020	2023
	Data Integration and		Cloud Data Integration
	Integrity Market² in 2020		revenue² (in $M)

1. International Data Corporation: "Worldwide Data Integration and Integrity Software Forecast, 2018 - 2023" May 2019; Applied Master Data Management category from "Worldwide Master Data Management Competitive Software Forecast, 2019-2023" July 2019, and Integrationand OrchestrationMiddleware category (excluding Managed File Transfer) from "Worldwide Semiannual Public Cloud Services Tracker," May 2019
2. International Data Corporation: "Worldwide Data Integration and Integrity Software Forecast, 2018 - 2023" May 2019

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Talend uniquely meets the needs of all users

Citizen	Integration
integrators	engineers

Azure Data

Factory

Complex

SimpleTransformations&

Integrations

Governance

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Talend helps organizations succeed in the rapidly evolving cloud ecosystem

PUBLIC, PRIVATE, HYBRID	SAAS APPLICATIONS	TRADITIONAL ENTERPRISE
AND MULTI-CLOUD	DATABASES

• Support for all major customer databases and their journey from on-premto cloud
• Operability across all cloud infrastructures: Public, private, hybrid and multi-cloud
• Optimized for all cloud innovations: cloud-to-cloud migration, IoT, advanced analytics, containerization and serverless processing, and machine learning models

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5,000+ customers across all industries rely on Talend for their data strategy

Financial services,

Insurance

Life Sciences, Healthcare

Logistics, Transportation

Education

Construction,

Manufacturing, Utilities

Retail ,

Consumergoods

Technology, Services

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In a heavily regulated environment, AstraZeneca devised a strategic initiative of returning to growth galvanized around data consolidation and transformation. AstraZeneca built a data lake on AWS and Talend is at the heart of that architecture, growing 5 times its footprint since the start of its data journey.

Why Talend

• Extensibility to build a new cloud ecosystem with strategic vendors, all leveraging modern technologies, and deep AWS connectivity
• Ability to scale up and down based on business needs and cost predictability

Enabled 90% of data to be ready	Shortened planning cycles from	$1 billion per year savings by
for analysis within 3 minutes	15 days down to 3 hours	shortening clinical trials

L'Oréal differentiates itself with top quality products and innovation, fueled by an ongoing dialog between science

and marketing. Its governed data lake collects, protects and shares all research knowledge (100 years of product development history), from product innovation to consumer assessment data.

Why Talend

• Broad connectivity to all types of databases
• Ability to put a Talend project on the collaborative developer platform, GitHub
• Integration of intelligent algorithms into data flows via APIs

New tailor-made digital	50 million data entries managed	From 2 days to 1 hour to send all
platforms for L'Oréal researchers	everyday	product evaluations to the lab

AB InBev's data hub on Azure cloud collects data from a vast range of sources, including IoT devices for data

discovery to better understand customer tastes, improve store and bar experiences, supply chain optimization, product development and more

Why Talend

• Built for Cloud
• Reusable framework
• Data discovery: a sandbox for data scientists, which they use to test various data models

100+ source systems integrated	From 6 months to 6 weeks for	From 23 to 1
development time	ETL tool

Experienced leadership team

Christal Bemont	Adam Meister
Chief Executive Officer	Chief FinancialOfficer

Lauren Vaccarello	Ann-Christel Graham
Chief Marketing Officer	Chief Revenue Officer

Michelle Sitzman	Aaron Ross
Chief PeopleOfficer	General Counsel

Krishna Tammana

Chief TechnologyOfficer

Jamie Kiser

Chief Operating Officer & Chief Customer Officer

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Financial overview

Q3'20 financial highlights

$269M	$88M	91%	86%
16% CC YoY	109% CC YoY

Total ARR $ and ARR	Cloud ARR $ and ARR	Subscription	Non-GAAP
Growth1,2	Growth2,3	Revenue	Subscription Gross
			Margin4

1. ARR defined as the annualized recurring value of all active contracts at the end of a reporting period.
2. Constant currency (CC) year-over-year metrics are as of September 30, 2020.
3. Cloud ARR defined as the annualized recurring value of all active cloud-based contracts as of the end of a reporting period.
4. See Appendix page 30 for reconciliation.

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Rapidly growing cloud business

Cloud Annual Recurring Revenue ($M)

+109% YoY Growth

on CC Basis1

				$88
			$75
		$61
	$54
$41
Q3'19	Q4'19	Q1'20	Q2'20	Q3'20
YoY %	179%	150%	128%	113%

$100M

Cloud ARR by

Q4'202

1.	CC defined as constant currency	20
2.	$100 million Cloud ARR by Q4'20 represents Talend's guidance, not actuals	20

Total annual recurring revenue

($ in millions)

			+16% YoY Growth
			on CC Basis1		$269
				$256
		$243	$246
	$225
	Q3'19	Q4'19	Q1'20	Q2'20	Q3'20
	YoY %	23%	20%	17%	20%
1.	CC defined as constant currency

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21

Customer expansion

Dollar-based net expansion rate (CC)

122% 119% 118% 120% 117% 117%

113% 111% 111% 110% 107%

Q1'18

Q2'18

Q3'18

Q4'18

Q1'19

Q2'19

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Note:

• Dollar-basednet expansion rate is calculated by dividing recurring customer revenue by base revenue. Base revenue is defined asthe subscription revenue recognized from all customers during the four quarters ended one year prior to the date of measurement. Recurring customer revenue is defined as the subscription revenue recognized during the four quarters ended on the date of measurement from the same customer base included in the measure of base revenue, including revenue resulting from additional sales to those customers. Dollar-based net expansion rate is presented on a constant currency basis.
• The numbers previously disclosed for each of the quarters of the years ended December 31, 2019 and 2018 have been revised to reflect the correction of an immaterial error. See Note 3, Revision of prior period financial statements, in our Annual Report on Form 10-K filed with the SEC on March 17, 2020 for more details.
• Our dollar-based net expansion rate excludes monthly customers.

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Revenue growth and mix

Total Revenue ($M)

Professional Services

Subscription

Growth impacted by ratable shift and PS growth moderation1

	$68	$73
$67	$68
$62	11%	9%
12%	10%
12%

	88%	89%	90%	91%
88%

Q3'19	Q4'19	Q1'20	Q2'20	Q3'20
Growth %	20%	18%	12%	16%

1. Professional Services revenue growth moderating due to cloud mix shift and greater channel contribution.
2. CC defined as constant currency

Subscription Revenue ($M)

+18% YoY on a CC Basis2

$66

$60 $61 $61

$55

Q3'19 Q4'19 Q1'20 Q2'20 Q3'20

Growth %

21%

22%

16%

20%

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23

Enterprise customer growth

Number of Enterprise Customers1

+19% YoY

			614	642
	593	598
540
Q3'19	Q4'19	Q1'20	Q2'20	Q3'20

1. Enterprise customers are defined as customers with ARR of $100,000 or more on the last day of the quarter.

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24

Non-GAAP Gross margin

Total Gross Margin

Subscription Gross Margin

87%		87%	87%	87%	86%
78%	79%	79%		80%	80%

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Note: Non-GAAP Gross Margin excludes share-based compensation expense, amortization of acquired intangible assets, and other expenses. See Appendix page 30 for reconciliation.

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25

Non-GAAP Operating loss

($ in millions)

($3)	($1)
($4)	($4)
		($7)

	Q3'19	Q4'19	Q1'20	Q2'20	Q3'20
Margin %	(5%)	(1%)	(6%)	(10%)	(6%)

Note: Non-GAAP Operating Loss excludes share-based compensation expense, amortization of acquired intangible assets, and other expenses. See Appendix page 31 for reconciliation.

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Q4'20 and FY2020 guidance

Q4'20	Low	High
($M, except per share data)
Revenue	$74.2	$75.2
Operating Loss	($9.5)	($8.5)
Net Loss	($10.2)	($9.2)
EPS	($0.32)	($0.29)

FY20	Low	High
($M, except per share data)
Revenue	$282.8	$283.8
Operating Loss	($24.4)	($23.4)
Net Loss	($26.8)	($25.8)
EPS	($0.85)	($0.82)

Note: All values are Non-GAAP, and exclude share-based compensation expense, amortization of acquired intangible assets, and other expenses.

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Appendix

Balance sheet

($ in thousands)	31-Dec-19	31-Mar-20	30-Jun-20	30-Sep-20
Cash and cash equivalents	$177,075	$177,812	$164,968	$160,527
Other assets	$226,842	$193,727	$196,195	$214,505
Total assets	$403,917	$371,539	$361,163	$375,032
Contract liabilities - Deferred revenue	$160,423	$146,337	$140,426	$138,440
Other liabilities	$207,542	$193,083	$199,217	$221,170
Total liabilities	$367,965	$339,420	$339,643	$359,610
Total shareholders' equity	$35,952	$32,119	$21,520	$15,422

Note: We have initially applied ASC 606 on January 1, 2018. Under the transition method chosen, the comparative information is not restated.

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GAAP to non-GAAP reconciliation

($ in thousands)	Q3'19	Q4'19	Q1'20	Q2'20	Q3'20
Total Revenue	$62,436	$67,454	$68,119	$67,738	$72,702
GAAP Gross Profit	$47,688	$52,280	$53,354	$52,532	$56,084
GAAP Subscription Gross Profit	$46,976	$51,141	$52,885	$51,938	$55,432
Share-based Compensation Expense	773	814	248	1,031	1,313
Non-GAAP Subscription Gross Profit	$47,749	$51,955	$53,133	$52,969	$56,745
GAAP Professional Services Gross Profit	$712	$1,139	$469	$594	$652
Share-based Compensation Expense	472	530	406	409	574
Non-GAAP Professional Services Gross Profit	$1,184	$1,670	$875	$1,003	$1,226

Non-GAAP Gross Profit

% Gross Margin

GAAP Sales & Marketing Expense

Share-based Compensation Expense

Other Expenses

Non-GAAP Sales & Marketing Expense

GAAP Research & Development Expense Share-based Compensation Expense Amortization of acquired intangible assets Other expenses

Non-GAAP Research & Development Expense

GAAP General & Administrative Expense Share-based Compensation Expense Amortization of acquired intangible assets Other Expenses

$48,933	$53,625	$54,008	$53,972	$57,971
78%	79%	79%	80%
$33,239	$35,588	$38,253	$39,531	$40,686
3,030	2,565	2,454	3,737	4,046
0	0	634	82	0
$30,209	$33,023	$35,165	$35,712	$36,640
$15,552	$16,029	$15,934	$17,639	$16,836
2,680	2,255	2,957	2,715	1,413
906	909	908	906	927
0	0	0	0	664
$11,966	$12,866	$12,069	$14,018	$13,832
$12,164	$10,282	$15,655	$14,997	$16,796
2,086	1,343	4,264	3,332	4,688
413	413	413	412	412
0	0	440	0	0

Non-GAAP General & Administrative Expense	$9,665	$8,527	$10,538	$11,253	$11,696
GAAP Operating Loss	($13,267)	($9,618)	($16,488)	($19,635)	($18,234)
Share-based Compensation Expense	9,039	7,507	10,329	11,224	12,034
Amortization of acquired intangible assets	1,319	1,321	1,321	1,318	1,339
Other Expenses	0	0	1,074	82	664
Non-GAAP Operating Loss	($2,909)	($790)	($3,764)	($7,011)	($4,197)

Note: We have initially applied ASC 606 on January 1, 2018. Under the transition method chosen, the comparative information is not restated.

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GAAP to non-GAAP reconciliation: Operating loss

($ in thousands)

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

GAAP Operating Loss	($13,267)	($9,618)	($16,488)	($19,635)	($18,234)
Share-based Compensation Expense	9,039	7,507	10,329	11,224	12,034
Amortization of acquired intangibles	1,319	1,321	1,321	1,318	1,339
Transaction Related Expenses	0	0	1,074	82	664
Non-GAAP Operating Loss	($2,909)	($790)	($3,764)	($7,011)	($4,197)

Note: Non-GAAP reconciliation numbers may not foot due to decimal rounding.

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31

Free cash flow reconciliation

($ in thousands)

2019

Q1'20

Q2'20

Q3'20

Net cash from (used in) operating activities	($14,543)	$2,848	($15,099)	($10,733)
Less: Acquisition of property and equipment	2,191	2,449	716	2,487
Free Cash Flow	($16,734)	$399	($15,815)	($13,220)
Note: Net cash used in investing activities	(2,191)	(2,449)	(716)	(2,487)
Note: Net cash from financing activities	157,838	3,886	(406)	3,204

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Subscription revenue reconciliation

($ in thousands)

Q3'19

Q3'20

Subscription revenue as reported	$54,952	$65,985
Conversion impact U.S. Dollar/other currencies		(1,391)
Subscription revenue on constant currency basis	$54,952	$64,594
YoY % as reported		20 %
YoY % on constant currency basis		18 %

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Product taxonomy

	On-prem	Cloud
Data / Big Data Integration	X	X
Data Governance	X	X
Data Preparation	X	X
Pipeline Designer		X
API Services		X
Other Product Offerings	X

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Recognized

as a Leader in Forrester

Enterprise Data Fabric Wave

by Noel Yuhanna

with Gene Leganza, Robert Perdoni, and Christine Turley June 10°, 2020

Highest score in the current offering category.

"Data fabric [...] delivers a unified, intelligent, and integrated end-to-end platform to support new and emerging use cases. The sweet spot is its ability to deliver use cases quickly by leveraging innovation"

The Forrester Wave™ is copyrighted by Forrester Research, Inc.Forrester and Forrester Wave are trademarks of Forrester

Research, Inc.The Forrester Wave is a graphical representation ofForrester's call on a market and is plottedusing a detailed

spreadsheet with exposed scores, weightings, andcomments.Forrester doesnot endorse any vendor, product, or service
depicted in the Forrester Wave. Information isbased on best available resources. Opinions reflect judgment at the time and
are subject tochange.	Source: Forrester Research (June 2020)

A Recognized Leader in Data Integration Tools by Gartner

Magic Quadrant For Data Integration Tools

Ehtisham Zaidi, Eric Thoo, Nick Heudecker, Sharat Menon, Robert Thanaraj 18 August 2020

Talend positioned as a Leader in the 2020 Gartner Magic Quadrant for Data Integration Tools based on completeness of vision and ability to execute.

This graphic was published by Gartner, Inc.as part ofa larger researchdocument and should be evaluated in the context of the entire document. The Gartner document isavailable upon request fromhttps://bit.ly/1Ddgprv .Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology usersto select only those vendors withthe highest ratings or other designation.Gartner research publicationsconsist of the opinions of Gartner's researchorganizationand should not be construed as statementsof fact. Gartner disclaimsall warranties,

expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

1. Recognized Leader in Data Quality Solutions by Gartner

Figure 1. Magic Quadrant for Data Quality Solutions

Magic Quadrant For Data Quality Solutions

Melody Chien, Ankush Jain

27 July 2020

"Data quality initiatives have traditionally been mandated to fulfill compliance requirements and to reduce operational risks and costs. Increasingly, data quality is also a necessity when amplifying analytics for better

insights and making trusted, data-driven decisions."

This graphic was published by Gartner, Inc.as part ofa larger researchdocument and should be evaluated in the context of the entire document. The Gartner document isavailable upon request fromhttps://bit.ly/1Ddgprv .Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology usersto select only those vendors withthe highest ratings or other designation.Gartner research publicationsconsist of the opinions of Gartner's researchorganizationand should not be construed as statementsof fact. Gartner disclaimsall warranties,

expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

1. Strong Performer in Strategic IPaaS

Henry Peyret, Gene Leganza , Elizabeth Hoberman , Sara Sjoblom,

January 2019

"Talend offers data, application, B2B, and IoT

integration in a single IPaaS environment, for cloud and/or on-premises integration

scenarios."

"predictable by-the-user subscription model, while most IPaaS competitors use a

consumption model"

The Forrester Wave™ is copyrighted by Forrester Research, Inc.Forrester and Forrester Wave are trademarks of Forrester

Research, Inc.The Forrester Wave is a graphical representation ofForrester's call on a market and is plottedusing a detailed spreadsheet with exposed scores, weightings, andcomments.Forrester doesnot endorse any vendor, product, or service depicted in the Forrester Wave. Information isbased on best available resources. Opinions reflect judgment at the time and

The Forrester Wave™: Strategic iPaaS And Hybrid Integration

Platforms, Q1 2019

are subject tochange.

Source: Forrester Research (January 2019)