Presentation given at NOAH Conference San Francisco on June 26 2012 www.noah-conference.com

1. XING – #1
Professional Social
Network In German
Speaking Europe
NOAH ’12, San Francisco
Dr. Stefan Gross-Selbeck

2. Why people use XING
"A more successful & rewarding working-life for every professional"
1 2 3
Digital identity Efficient tools for
management Core networking functions corporates
e-Recruiting
Advertising
Events 2

3. #1 Business network in D-A-CH
… in members
with >5.5m+ members in D-A-CH
… in growth
>233k net new members in Q1 2012
… in activity
with more than 4/5 of all segment page
views
… social media recruiting platform
for online job ad postings
… strong local ties
>250 local Ambassadors, >140k offline
events p.a.
3

4. Our business model
PAID
VERTICALS
MEMBERSHIPS
"Freemium" model e-Recruiting
 Job ads (fixed & click price)
€395 - €595+ p.m. or €0.79 p.c.
E-RECRUITING
Premium
ADVERTISING
PREMIUM & SPECIAL  Recruiter membership:
membership:
MEMBERSHIPS €39.95 - €59.95 p.m.
EVENTS
3m @ €7.95 p.m.*
...
12m @ €6.95 p.m.* Advertising
 eCPM model
Sales membership:
 Company Profiles
3m @ €49.95 p.m.
Standard @ €24.90 p.m.
12m @ €29.95 p.m.
Plus @ €129 p.m.
Events
Total of 793k payers  Commission to XING: 5.9% of
(D-A-CH: 765k) ticket price & €0.99 per ticket
14% payer ratio sold
BASIC MEMBERSHIP
Core networking functions
Free of charge
Total:12.1m (D-A-CH: 5.5m)
4
* Pricing for all new paying members since April 2011 (Discount of 20% for first term, auto-renewal with new pricing)

5. Q1’12: €17.7m revenues, €4.8m EBITDA,
27% margin
Q1'12 Q4'11 Q1'12 Q1'11 Q1'12
vs. Q4'11 vs. Q1'11
Abs. Abs. Abs.
Total revenue1 17.7 17.6 +1% 15.7 13%
Costs (12.9) (12.0) (7%) (10.0) (29%)
EBITDA 4.8 5.6 (14%) 5.6 (15%)
Margin2 27% 32% (5%pt) 36% (9%pt)
Depreciation (1.8) (2.6)3 31% (1.5) (24%)
Financial result 0.1 0.2 (29%) 0.0 272%
Taxes (1.1) (1.4)3 (18%) (1.5) 25%
Net result 2.0 1.83 12% 2.7 (27%)
(1) Including other operating income
(2) Of revenue
(3) Adjustment for one time write-down of market entries for Spain & Turkey (€14.4m) & taxes adjusted by €0.3m accordingly
Accelerated investment mode since Q3 2011
5

6. ‘Verticals’ drive overall growth
"Verticals": Continued strong growth New job applicant features
• Revenues from "verticals" in €m & in % of Strong yoy growth in job ads sold via
total revenues sales overcompensates decline in click
YoY growth e-Recruiting price ads given ongoing chance in
€5.7m +34% product mix
Corporate Recruiter Account (CRA) to
1.0 be launched in summer 2012
+101%
€4.3m
Display ads: Good performance in soft
0.5 1.2 +15% market environment
Company profiles: Strong yoy growth
1.1 Advertising
in Q1
New revenue model "AdCreator" to be
launched in Q2 2012
3.5 +28%
2.7
€14.3m ticket sales in Q1 2012
Ramping up sales team
Events
Testing new product to promote
Q1'2011 Q1'2012 events on XING
27% 32%
6

7. Grow and activate: Long runway for
growth
Penetration gap promises upside Growth opportunity from mobile "revolution"
Business networking penetration in XING mobile visits in m
selected countries1
>20% of
>17% >16% >100%
total traffic
>11%
~5% 7.000
3.287
UK NL USA
March 2011 March 2012
Significant growth
potential in D-A-CH Social networks are main
beneficiary of mobile
Addressable market revolution2
D-A-CH: 19m people3
1 Source: XING analysis & LinkedIn demographics as of January 2012
2 Source: Comscore MobilLens, 3month avg. ending Dec-2010 vs. Dec 2009
3 Source: United Nations World Population Prospects 2006, United Nations Economic Commission for Europe – Statistical
Division, European Commission Long-Term Labor Force Projections 2005, OECD's Committee Information Service,
7
CEDEFOP Future Skill Needs in Europe Forecast 2008, Sal. Oppenheim estimates

8. Overall strategy in 2012 remains
unchanged
PAID Exploit large remaining market
VERTICALS
MEMBERSHIPS potential in D-A-CH region
E-RECRUITING
ADVERTISING
PREMIUM &
EVENTS
3
...
SPECIAL Monetize through combination of
MEMBERSHIPS Develop
& Build
paid memberships & verticals
 Upcoming launches:
2 Corporate recruiter account (CRA)
Convert
& social advertising products
1
BASIC MEMBERSHIP
Grow &
Activate
Further invest in product
development and marketing
Significant growth potential ahead in core markets (D-A-CH)
to become a €100m+ company in a few years
8

9. Thank you
for your kind
attention!
The professional network
www.xing.com

10. NOAH Advisors - Europe’s Leading Internet Corporate Finance Boutique Selected Completed NOAH Transactions
May 2012 April 2012
Unique Industry Know-How Core Investment Banking Competence
Sale of a 100%-stake in
 100% focused on Internet companies, covering  The NOAH team has 25+ years of media
150 million growth equity investment from
over 25 sub-verticals in this highly complex investment banking experience
industry - Routine execution of M&A and financing for a 50% stake alongside Fotolia’s Founders and
to
- 15+ years active coverage of leading European transactions with sizes of several billion euros
Internet companies and investors  The team has been working together closely for 7 Additional $150 million senior debt financing
Total $300 million investment
 Deep understanding of industry dynamics and years (including 6 years at Lehman Brothers) Financial Advisor to Fotolia and its Shareholders Financial Advisor to Toprural and its Shareholders
thinking of industry leaders  8 successfully completed NOAH Advisors
 Ability to add value beyond banking advice transactions underline successful transfer of
- Facilitates overall process and minimizes competencies to the Internet sector November 2011 July 2011
management distraction Sale of a majority stake in Sale of a majority stake in
Unmatched Network and Relationships Full Commitment - We Are Entrepreneurs!
 NOAH Advisors is globally very well connected  The NOAH team are entrepreneurs and focused to
to
and has direct access to virtually all key players in on growing the business and establishing a Quants Financial Services AG
the industry reputation for excellence Exclusive Financial Advisor to
- Knowledge of and strong relationships with  Full commitment to deliver top quality results in grupfoni and its Shareholders Advisor to EnGrande
potential buyers’ key decision makers short time frames
- Coverage of over 500 companies and 4,000  Highly success-based compensation structures
individuals align interests of clients and NOAH Advisors, and April 2011 April 2011
- Proactively finds and unlocks attractive demonstrate conviction to deliver top results Sale of a majority stake in
investment opportunities for leading have acquired a majority stake in
investors (e.g. Bigpoint)
 Annual NOAH Conference to
for $350m from
The NOAH Advisors Core Team
Exclusive Advisor to Advisor to Yatego
Summit Partners and TA Associates
Marco Yoram Jan
Rodzynek Wijngaarde Brandes
December 2009 April 2009
Managing Director Director Director
Partial sale of $80m partial sale of
and Founder
to
to
Contact Details Contact Details Contact Details Valuing Softonic at €175m
marco.rodzynek@noah-advisors.com yoram.wijngaarde@noah-advisors.com jan.brandes@noah-advisors.com
Advisor to Softonic Advisor to Fotolia
UK Mobile: +44 77 85 330 330 UK Mobile: +44 79 17 084 784 German Mobile: +49 174 2010 984
Swiss Mobile: + 41 79958 1512

11. Introduction to the NOAH Conference Overview of the NOAH Conference 2011
 The NOAH Conference is an annual Internet event taking place once a
Summary Overview Conference Program
year in London, focused on top management from Internet start-ups to
global media companies as well as senior investment professionals  NOAH ‘11 took place on 9-10 November 2011 at Old
 NOAH’s goal is to create a marketplace for the European Internet eco- Billingsgate in London
system to discuss key trends, generate business and facilitate  Fantastic line-up of 90 speakers from 20 countries in keynotes,
investment transactions presentations and panels over 2 full days
 Over the past 3 years numerous high-profile speakers presented at  1,150 attendees from 35 countries – 57% from Internet
NOAH, including over 100 CEOs companies, 26% from investors, 15% from corporates (media
 The NOAH Conference was founded in 2009 by Marco Rodzynek and is companies, advisors, PR and recruiting) and 2% press
organised by the NOAH Advisors team with sponsorship from some of representatives from leading on- and offline publications
the world’s leading financial investors  NOAH party with additional guests from London and a great
live band on the evening of the first day
NOAH ‘12 on 6-7 November – Save the Date  Extremely positive feedback from numerous attendees, on
twitter and in the press
 The conference will again take place at Old Billingsgate in London
 Registration will open in early 2012 Selected Conference Impressions
 For updates, please check: www.noah-conference.com
Event Sponsors Strategic Sponsors