1. Presented by Mike Cassidy, CEO and Founder

2. Agenda About Undertone The Online Advertising Industry Q&A 2

3. Undertone 3

4. Ad Networks 4

5. Publishers and Advertisers 5 PublishersAdvertisers

6. Marketplace 6

7. $0 Source: eMarketer 2010 Online Ad Marketplace $ million 7

8. Advertising revenue by media ($ million) Source: eMarketer 2010 U.S. Advertising Marketplace 8

9. Source: eMarketer 2009 U.S. Media Consumption 9

10. $12.4B Search $7.0B Display $1.5B Video $4.1B Other $25.1B Source: eMarketer 2010 Online Advertising 10

11. Search 11

12. Search 12

13. Search Paid Search Results 13

14. Search Natural Search Results 14

15. Search 15

16. Display 16

17. October 27, 1994: Birth of the Banner 17

18. Display 18

19. Display 19

20. Display Advertising is a Crowded Space 20

21. Facebook 21

22. Video 22

23. Fastest Growing 1B+ Online Ad Segment Source: Piper Jaffray, IAB (historical) 23

24. Video 24

25. Opportunities 25

26. Open Positions Publisher Development Director Publisher Development Manager Digital Analyst Director of Client Services Manager of Strategic Alliances Recruiter Account Executives Sales Operations Director PR Manager Internships 26

27. Contact us! To inquire about full-time and internship opportunities… Contact: Katie Rash HR Coordinator krash@undertone.com 27