IMAP Germany Digital Technology Report Q4 2021

We are pleased to release an update to the IT/ Software Report for Q4 2021. The report provides insight and
analysis on stock performance, valuation developments and M&A dynamics within the Software and IT Services sector.

▪ Focused on application software, this publication includes a more detailed view on the universe of application software, segmented into horizontal and vertical application software.

− The horizontal application software segment is divided into two groups in terms of performance: On the one hand, "CRM / Marketing", "ERP" and "SCM / Logistics" have shown high growth in Q4 2021, while "Tele / Communications" has suffered heavy losses due to TeamViewer’s 53%  decline and Zoom’s 31% decline in stock performance in Q4.

− Among the vertical application software segments, "Healthcare" recorded strong growth, as in the previous quarter, while "Energy / Mining" showed a moderate development. The “Real Estate / Construction” segment recorded a decline of 9%, reflecting Zillow Group’s losses of more than 55% over
the past twelve months. Similarly, the "Finance / Insurance" segment recorded a decline of 8%.