Venture financing in Germany 2012 — Q2'17 $2,500.0 140 120 $2,000.0 100 $1,500.0 80 60 $1,000.0 40 $500.0 20 $0.0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2012 2013 2014 2015 2016 2017 Capital invested ($M) # of deals closed Source: Venture Pulse, Q2'17, Global Analysis of Venture Funding, KPMG Enterprise. Data provided by PitchBook, July 13, 2017. Venture sums invested on a quarterly basis in Germany continue to hold steady or even increase upwards, although activity continues to decline. This most recent decline is likely owing to timing more than anything else, although political uncertainty or the variability in economic health reports around the continent on the whole will likely continue to impact investor sentiment. © 2017 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. #Q2VC