©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law 1 e-Invoicing market activity Stefan Foryszewski

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Agenda Understanding OB10 Looking back at the last 12 months What has happened What we have done Outlook for the near future 2

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law OB10 is the leading global e-Invoicing network. Customers of all sizes optimise their invoice processes via the OB10 network and benefit from improved efficiency and transparency in their finance departments. About OB10 Founded in 2000 Over 230 FTEs Regional Headquarters in London, Atlanta and Kuala Lumpur Supporting Offices in Sofia and Bangalore Over 70,000 registered customers on the network, in over 100 countries VAT and Tax compliant in Europe, North America and Asia

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Our focus electronic invoicing Supported by Purchase order PO Flip PO Delivery Remittance advice Fiscal Archiving 4

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Our markets EU UK UK public sector Germany Multinational Shared Services (F&A) US Domestic Federal Government Multinational Shared Services (F&A) 5

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Some of our Partners BPO providers IBM Logica Genpact Payment Services Santander PayPal Software Applications Readsoft Basware EDI GXS 6

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law 7 Some of our customers

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law 8 e-Invoicing flow Suppliers Buyer Preferred Data Format Invoice Image OB10 Archive Preferred Data Format Integrated supplier Web form OB10 Portal Invoice Image Delivery Confirmation

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Our business model Buyer-Centric model Transaction based pricing and annual fees Charge both ends Sender and receiver No installed software Integrated with ERP / Billing system Recurring revenue No consulting / professional services fees 9

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law What’s happened in the last 12 months Greater visibility of e-Invoicing The work of Governments and EU Commission Talk of easing the legislative burden The desire for savings has increased Many more RFP’s The desire for projects has decreased Fewer contracts crossing the line (They are stacking up) Fear of change US quarterly reporting 10

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law What’s happened in the last 12 months Less focus on CSR / ‘Green’ Lower levels of ‘individual’ trading activity US first, followed by EU Attrition is low, buyer and suppliers Greater demands for Interoperability Connect once ………

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law What we have done in the last 12 months Off-shoring Maintained front end direct sales and marketing activity Internal efficiency programmes Review of geographies Increased partner activity 12

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Off-shoring English Language Strengthened the operation in KL English Language only Customer facing Back office Development EU Languages Strengthened operation in Sophia Fr, Ge, Sp, NL, Po, It 13

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Sales and Marketing Maintained direct sales and marketing activity Fewer conferences T&E control Webinars More PR 14

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Internal efficiency Accelerated developments Support CRM Sales efficiency 15

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Geographical expansion Review of markets Customer requirements Business Case Legal requirements 16

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Partner Activity Significantly increased partner activity Reach Sales Pipeline reviews Interoperability 17

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Highlights Transaction growth Revenue growth Top line sales growth SAS70 Type 2 Expense growth Cash Break Even Rights Issue 18

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law What the market is telling us e-Invoicing Low market penetration, increasing 30% Increased competition Service providers 300 in Europe (???) Consolidation inevitable Still localised services 19

©copyright OB OB10 and the OB10 logo are trade marks of OB10 Limited and are protected by law Outlook Continued growth But around 30% Sustainable profitability Poorly funded players will consolidate or fail Greater demand for new markets Asia Latin America EU proposed legislation unlikely to be implemented soon, restricting the less sophisticated players More interoperability More partners 20

Thank You 21