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CONTENTS. OVERVIEW TEAM OPPORTUNITY PORTFOLIO & PIPELINE MODUS OPERANDI SUMMARY AND TERMS. www. runacap .com. Runa Capital Confidential. RUNA CAPITAL: 3 YEARS IN ACTION. Dec 2012: 33 companies, $47M invested.

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  1. CONTENTS OVERVIEW TEAM OPPORTUNITY PORTFOLIO & PIPELINE MODUS OPERANDI SUMMARY AND TERMS www.runacap.com Runa Capital Confidential

  2. RUNA CAPITAL: 3 YEARS IN ACTION Dec 2012: 33 companies, $47M invested Aug 2013 – Nginx raised Round B at 4x valuation to that of Round A Apr 2012 – Final closing$135M Sep 2010 – 1st closing:$20M Dec 2010 – 2nd closing: $50M Dec 2009 – inception: “Cloud Incubator” – $30M seed fund Apr 2011 – 3rd closing: 75M Aug 2012: First exit, 700% IRR Dec 2011: 12 companies, $10M invested Jun 2010 – 1st term-sheet 2012 2011 2013 2010 Oct 2010: 1st deal closed Dec 2010: 4 companies, $3M invested Aug 2013: 42 companies, $75M invested Apr 2010 : Runa: GP incorporated, fundraising started Jul 2013:Peter Bauert joins Runa as Investment Partner Feb 2011: Andre Bliznyuk joins Runa as Investment Partner

  3. RUNA CAPITAL: 3 YEARS IN ACTION 2010 2011 2012 2013 4continents 22countries 55cities 600+flights ecwid

  4. RUNA CAPITAL: ASSETS Team Fund I portfolio 2 Founding Partners 3 Investment Partners 2 Investment Directors 2 Analysts Operating Partner/CFO CTO in residence HR Director PR Director ecwid Carried multiple by investments PowerfulBrand "The list of venture investors in Russia is led by Runa Capital" - September, 2012

  5. ENTREPRENEURIAL HANDS-ON EXPERTISE Positioning Runa as co-founders > better deal terms for Runa Lending our own expertise to portfolio companies > product, business development, operations, fundraising Enabling business growth of our portfolio companies: recommend good people, introduce right partners, bring to new markets UNIQUE ABILITY TO GENERATE PIPELINE Active PR efforts and high visibility > investment in Runa brand Our reputation of “partner of choice” for most foreign and local funds and IT corporations > easy syndication Active presence in regions of Russia and Ukraine > virgin markets Ability of screening efficiently huge amount of projects – through access to many best industry experts and academia from leading universities SPECIFIC AREAS OF EXCELLENCE #1 VC firm in Cloud solutions for SMB: 35 industry insiders as LP’s, 10x more – advisors and friends. Strong affiliation with major players: United Internet, Go Daddy, Endurance, Parallels etc. #1 VC firm in Russia and CIS: 100% brand awareness, strong presence in regions of Russia We are very good in several other areas: complex software/strong engineering expertise, specific regions – SEA/LatAm, specific verticals – science/education/government RUNA CAPITAL: WHY WE ARE SPECIAL? • Brought 10+ partners (Wix, GoDaddy, 1&1, Endurance, Verioetc) • Recruited president & GM North America – Jim O’Hara (ex. LiveOffice) ecwid “ • “As an entrepreneur you look for investors who can bring real value to your company, [the] team at Runa Capital are exactly this type of investor” • Gus Robertson, CEO Eruditorhad a deal with Intel Capital on the table, when I decided I want Runa Capital to join the round, so I had to persuade Intel to give part of it to Runa... Egor Rudi, Founder and CEO “Runafully appreciates how to build products that satisfy customers, [this] makes Runa a truly special partner for any early stage technology company.“ Jeremy Levine, partner at BVP .”

  6. RUNA CAPITAL: #1 VC FIRM IN RUSSIA & CIS Partnerships Leading VC and IT firms LP’s Successful Entrepreneurs Alexander Katalov Igor Daniloff Igor Borovikov, Alexander Galitsky Collaboration with hi-tech universities and incubators Featured in top analytical, venture social media

  7. RUNA CAPITAL: #1 VC FIRM IN CLOUD FOR SMB Network: 250+ professionals Runa Network 6 venture partners: • Seasoned IT Entrepreneurs and Investors (Igor Borovikov, Alexander Galitsky, Igor Daniloff, Alexander Katalov, Achim Weiss, Oleg Tscheltsoff) 45 limited partners: • 35 successful IT entrepreneurs + 10 asset management /investment boutiques 200+ industry experts: • professionals from leading companies in cloud software, virtualization, IT security, hosting and many more Jochen Berger Warren Adelman Oleg Tscheltzoff, AchimWeiss, Andreas Gauger MichaelChoupak Thomas Strohe Tracy Conrad Reed J. Caldwell RafaelLaguna Patrick Pulvermüller, ThomasGorny

  8. RUNA CAPITAL: #1 VC FIRM IN CLOUD FOR SMB Ecosystem: leading firms in Cloud SMB Portfolio cloud companies

  9. TEAM: FOUNDING PARTNERS Serguei & Ilya founded SWSoft, later acquired Plesk and Parallels and re-baptized SWSoft to Parallels. With over 1,000 employees and $150M+ revenue, the company is the market leader in Automation for Cloud Service Providers, Container-based server and Desktop virtualization. Serguei & Ilyaacquired assets that became Acronis, specializing in physical and virtual data management and disaster recovery software, the company employs 850+ people and generates over $150M revenue. Serguei &Ilya founded the leading accounting and ERP software distributor in SEA Serguei & Ilya founded the consumer electronics manufacturer; now the largest in Russia with a $500M/year turnover Serguei & Ilya invested a total of $3M in AutomatedQAprovider of tools for managing software development and testing. The investment is partly exited with total implied ROI in excess of 7x and more than 40% IRR  Serguei & Ilya invested $800K in GFI, the provider of a complete set of IT solutions for SMB. Investment is partly exited, with 5x ROI and IRR 40%  2005-2009 1995-2000 2001-2005 • Sergey advises on key deals including Nginx, DMS Technosoft and ECWID; value added to Runa : • International network • Technology vision • Entrepreneurial spirit • Ilya focuses on key deals, including Dnevnik, LinguaLeo and Eruditor; value added to Runa : • Deep operational experience • Deal structuring • Entrepreneurial spirit Serguei Beloussov Founding Partner Ilya Zubarev Founding Partner

  10. TEAM: INVESTMENT PARTNERS Dmitry Chikhachev Andre Bliznyuk Peter Bauert • Business executive with 18+ years of broad cross-functional experience: CEO/COO in Uvenco (scaled from $0 to $25M in revenue), Head of international business development in Ritzio Entertainment Group ($600M revenue/$75M overseas operations), HR Director of LM Ericsson CIS. • MSc Moscow Institute of Physics and Technology (PhysTech), MBA American Institute of Business and Economics • Dmitry’s investment focus is SMB cloud, complex SW, mobile • Special expertise: • M&A, Greenfield project management, HR management • Investment and corporate finance professional withover 10 years of experience: Goldman Sachs, UBS, Sistema. Over 20 IPOsand other fundraising projects –for a total amount of tens of US$bn – includingMail.ru, Comstar, Sistema IPOs on the LSE. • MAMoscow State University • Andre’s investment focus is vertical markets + international opportunities • Special expertise: • Financial sector • Investor relations • Public capital markets • Finance and Operational executive with 20+ years experience. Recent roles include CFO/COO at Parallels ($150M+ Revenue) and EVP at FAST (Acquired by MSFT for $1.3B). • BS Computer Science + MBA (Dartmouth College - Highest Distinction) • Peter focuses on cloud-solutions for SMBs, as well as North American opportunities • Special expertise: • Tax structuring • Financial mgmt/reporting • Recruiting ecwid

  11. TEAM: BUSINESS SUPPORT ecwid Oleg Melnikov, CTO in Residence Focus on supporting portfolio companies in product development & due diligence of technology/engineering teamsfor investment prospects. Joined Runa in 2012, has worked together with Serguei/Ilya for 12+ years 12+ years technology track in SWSoft/Parallels: SVP, VP of Automation, Director of Technology, Product manager at Parallels. MSc in Computer Science at MIPT > full technology & dev. team due diligence > CTO coaching on engineering processes Vera Shokina, Partner/CFO Focus on managing the investment back-office and finance of the fund as well as supporting portfolio companies in corporate matters. Joined Runa in 2010. 15 years in finance: VP of Silicon Valley Bank, GE Capital Portfolio Manager. Chairman of American Business Association of Russian Professionals (AmBAR). MBA, Finance Academy > Coordinated the closing and post-closing matters for 30+ deals in 3 years. Dmitry Pozdyakov, HR Director Focus on recruitment for portfolio companies, supporting HR processes & due diligence of founders. Joined Runa in 2012, has worked together with Serguei/Ilya for 6 years. 8+ years Recruitment professional: Yota Lab, Yota, Acronis, NTS Leader. Master degree in HR Management from Academy of Public Administration >20+ engineers and business hires for portfolio companies, e.g.: >Product manager for B2B Liliana Pertenava, PR Director Focus on promoting the brand of Runa Capital & building PR, internal communications, viral and social media marketing for portfolio companies. Joined Runa in 2010 4+ years track record in PR: early career as a TV and radio host, in past four years was responsible for coordinating activities in PR, GR, marketing communicationsin media, R&D and IT sectors. >Coordinated product launch, featured Dnevnik in top publications

  12. THE OPPORTUNITY: TRIPLE TSUNAMI Mobile Devices 2007 2012 2017 3.3M 130M 500M? iPhones sold 0 60M 400M? iPads sold 120M 650M 2B? P2P Internet Smartphones Sold 50M 1.0B 1.8B? Facebook users Cloud Computing $150M $5.1B $15B? Facebook revenue 1.2B 2.5B 3.6B? Internet users $326M $2.2B $15B? Amazon AWS Revenue $500M $2.3B $10B? Salesforce.com Revenue $5B $50B $500B? Cloud market

  13. THE OPPORTUNITY: PERFECT STORM www.runacap.com Runa Capital Confidential

  14. INVESTMENT THEME 1: small business – BIG MONEY ecwid Global Cloud Market Total Global It Spending • Hosting and Telco providers are building a complete Cloud ecosystem of mass-market cloud applications for SOHO/SMB, as the market is set to explode over the next years1: • 48% was the growth in new data creation in 2012, reaching 2.7 Zettabytes • SMB IT budgets are experiencing 4x growth vis-à-vis all IT budgets • 4M SMBs entered cloud market in 2012 • Global SMB cloud market will grow by 28% year over year through 2015 96 Business applications Hosted communication & collaborated SMB $510bln 45 Web presence andweb applications Enterprise $780bln Infrastructure as a service Dec-12 Dec-15 Business software on a subscription basis; $3bln in sales in 2012 Examples from Runa I portfolio: 46M reviews $137M in 2012 sales Cloud ERP for SMB and enterprises; $120M in 2012 sales

  15. INVESTMENT THEME 2: VERTICALS DISRUPTED (opt 2) • Next generation IT services bring new opportunities into many traditional verticals: Finance, Healthcare, Education, Public sector – largest demand for improvement and growth potential: disruptive innovation in such segments is leveraged by Social & Mobile penetration IMPROVEMENT POTENTIAL : Healthcare, Education and Finance are among the major sectors to benefit from new IT services (bubble size – worldwide industry size in US$ bln) doubled the number of users to 2M in 1H 2012 the largest  P2Plender in US, has loans for $2.3B+ as of Aug 2013 FINANCE HEALTHCARE provider or rapid genetic testing, accumulated a database of more than 100,000 individuals after 4 years since launch, and raised 50M+ in financing in 12/12 • EDUCATION offering online courses. In 2 years since its launch, it has 62 leading American universities among its partners Source: IBM Institute for Business Value Source: IBM Institute for Business Value

  16. INVESTMENT THEME 3: COMPLEX SOFTWARE System Software, Big Data, Distributed Processing Middleware, PaaS (Platforms as a Service), Development Tools – in demand because of infrastructure changes. Massive growth applications usage requires strong underlying technologies. Advanced science requires complex algorithms and distributed data processing Our Area Of Excellence And Competitive Advantage • Access to top engineering and scientific expertise for making sound judgment about the viability of technology & provide valuable advice to developers. • Very few VC look at complex SW – less competition, best deals at unique terms. No amateur investors – no inflated valuations. Founded in 2008 Clouderareached $100Min revenues in 2012 raised $65Min series E in 12/12 10gen - the company behind MongoDB, the leading NoSQLdatabase - raised $42M in series E in 5/12 Paul Maritz Michael Widenius Michael Dell Bertrand Serlet In 2009 VMware acquired SpringSource – an application development framework for enterprise Java - for $362M Cisco acquired Israel’s IntuCell, developer of advanced self-optimizing network (SON) software, for $475M

  17. PORTFOLIO: GROWING INTO BIG FISH ecwid

  18. PIPELINE: MORE BIG FISH

  19. MODUS OPERANDI: PRO-ACTIVE GENERATION OF PIPELINE BUILDING STRONG INTERNATIONAL BRAND WITH TECHNOLOGY FLAVOUR • Featuring in industry major media. Speaking at the largest events. Providing expertise to government and industry boards. COLLABORATION WITH KEY UNIVERSITIES, INCUBATORS AND ACCELERATORS • Partnerships with universities in Russia: MIPT, SPbGU, NskGU, MSU. Engagement with educational activities and contests: Microsoft Imagine Cup, TechnoCup, PhysTech Union. Specific startup training courses held at Runa University. STRONG REGIONAL PRESENCE IN RUSSIA • Active participation in regional events in Russia and CIS, strong connections with incubators and accelerators, integration into startup community (Innopolis, IT Parks in Kazan, Astrakhan) RELATIONSHIPS WITH MAJOR VC FUNDS AND IT CORPORATIONS • Technology-focused partnerships with leading VCs. Providing market expertise to Intel, Microsoft, Google, CISCO. Serving on the board of Microsoft Seed Fund. > #1 in the List of Top 20 Venture Funds in Russiaby Hopes & Fear - March, 2013 > TheNextWeb Russian Startup Awards – The Best Investor- February 2013 > Best Venture Capital Team Russia on Private Equity Awards - October, 2012 > The list of venture investors in Russia is led by RunaCapital … - Techcrunch.com - September, 2012

  20. MODUS OPERANDI: EFFICIENT SCREENING ABUNDANT PIPELINE • With huge number of deals that appear on our radars we feel no pressure to deploy the capital - can be very picky and selective ACCURATE SCREENING PROCESS • Checklists are used to screen the flow. Looking at 3 dimensions: People, Product and Business – we only accept projects A-rated in all 3 dimensions INVOLVING EXPERTS • Our Venture Partners, our LPs and their connections are involved in screening & due diligence – we base our judgment on experts opinions CROSS-BORDER BENCHMARKING • Access to deal-flow in many geographies gives us a privilege to compare business plans to actual performance of peers in more mature markets 3,500+ 80+ 2,000+ due diligence conducted projects received and found screened 42 47 deals closed term-sheets signed

  21. MODUS OPERANDI: ADDING PRACTICAL VALUE

  22. MODUS OPERANDI: ADDING VALUE - CASE STUDIES High performance web-server, hosts >13% of all domains worldwide (>26% across top-1000). Rapidly gaining market share (number of NGINX websites tripled last year). Powered by NGINX: Facebook, Netflix, CNN, Techcrunch, Yandex, Wordpress, Groupon Full-fledged shopping cart solution implemented as embeddable AJAX widget – cross-platform and fully integrated with all major payment & delivery systems. Powers >300,000 store-fronts worldwide, processing 10M transactions per month • Set-up of tax-efficient legal structure: IP holding company in Luxembourg, SW development in Russia, reseller/distributor in the US. • execution of channel strategy: referred to 10+ large partners, facilitated negotiation (Yola, Wix,Verio, GoDaddy, Strato, BaseKit, CM4All, Endurance etc). Channel revenue grew from 0 to 15% of total • Recruited senior international executive (Jim O’Hara) as the President & GM North America – to take responsibility for channel sales development operations • international PR campaign: referred PR firms in EU/US, organized a number of good publications – including USA Today/Techcrunch • Implemented management accounting procedures and regular financial reporting in line with IAS • Implement employee stock options plan – creating stock options policy and individual agreements • obtaining the status of Skolkovo resident and tax rebates for Russian company • Opened merchant account in the US for reducing sales commission from 5 to 2% • Contributed in creating the concept of a commercial product/monetization strategy • Set-up of international legal structure with holding company on BVI, R&D in Russia and Sales/Marketing in the USA • Introduced to Michael Dell and secured funding from his Fund MSD Capital • Brought partnership with Parallels which integrated Nginx software into Plesk Panel Solution • Recruited international senior executive, Gus Robertson (former VP Global Business Development at RedHat) as CEO • Helped to apply for Skolkovo resident status resulting in tax benefits for Russian company • Introduced to the leading web-hosting companies • Referred to international PR agencies and helped get good media coverage including Techcrunch, Financial Times, Forbes. ecwid RUNA contribution

  23. INVESTMENT PHILOSOPHY: STRATEGY & PRIORITIES FOCUS ON KEY TEAM COMPETENCIES • We select projects were substantial value is created through software engineering or other related domain expertise PORTFOLIO SYNERGIES AND LEVERAGE • We aim to efficiently utilize the resources of existing portfolio and other related companies (e.g. Parallels, Acronis, Acumatica, 1&1/United Internet, etc.) – as an intellectual resource, technological partner and sales channel. BARRIERS AGAINST COMPETITION • We look for projects with a high degree of ‘hard-to-clone’ or ‘long-to-clone’, potentially patentable IP – as a natural barrier against competition and our team’s area of excellence. EFFICIENT USE OF CAPITAL • We aim to invest on co-founder terms and prioritize projects with sensible development and marketing timeframes and budgets, and clear breakeven points ENABLING GROWTH • We pro-actively enable growth of our portfolio investments through putting them into right business environment and providing practical support/guidance in engineering, operations, marketing strategy, finance and, ultimately, obtaining liquidity.

  24. Name: RunaCapital Fund II LP, a Cayman Islands limited partnership General partner:Runa Capital, a Cayman Islands exempt company Purpose:Venture capital investing, primarily through acquiring, holding and disposing of equity and equity-linked securities issued by private companies. Size: US$200 million Term:closed-ended, 10 +1+1 years Investment Period: 4 years, no re-investment Preferred return:1x Carried interest:20% Management Fee: 2.5% per annum on committed capital during investment period, on netinvested capital thereafter. 1% set up fee. Closing timelines:Initial closing March 31st, 2014 (30% of fund size contributed by GPs) Final closing 18th months from initial closing Min. Commitment:US$1 million Administrators: Delphi Management (Bermuda) Counsels:Greenberg, Whitcombe, Takeouchi (US); Manatt, Phelps & Phillips (US) Auditors:PriceWaterhouseCoopers Advisory Board: 5 members – all representing LPs: 3 largest LP + 2 nominated by GP Invest Committee: 2 Founding Partners + 3 Investment Partners Reporting:Quarterly business update, Annual audited financial statements SUMMARY: FUND II KEY TERMS

  25. SUMMARY: EXPECTED CASH FLOWS AND RETURNS MODEL OUTCOMES • Quarterly capital calls of 5% of LP commitment for 4 years • The maximum of 80% of total capital commitments will be called by Q1 2018, when the fund is expected to start generating positive net cash flows from exits • Estimated investor IRR 31% (net of fees and carry) • Plain payback period 5.5 years, cash return 3.3x Exit returns probability distribution Years to exit/exit ROI

  26. CONTACT US Email: pb@runacap.com Mob: +1 239 728 8725 Email: dc@runacap.com Mob: +7 916 156 75 03 Email: ab@runacap.com Mob: +7 985 762 46 20 Dmitry Chikhachev Managing Partner Andre Bliznyuk Peter Bauert

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