TeamViewer : Speech of Oliver Steil

CONVENIENCE TRANSLATION

This translation is a working translation only. Legally binding and relevant is solely the German version.

TeamViewer Annual General Mee�ng 2023

Speech by Oliver Steil, Chairman of the Execu�ve Board

(Text as presented 24 May 2023)

Dear Shareholders,

A warm welcome from me as well. On behalf of the entire TeamViewer Management Board, I welcome you to our Annual General Meeting this year.

Looking back at 2022, TeamViewer has clearly demonstrated that we can succeed even in a challenging year full of macroeconomic uncertainties. We met our financial guidance, delivering on our most important promise to the capital market. Our goal was to achieve the expected results and therefore consolidate confidence in our operational strength. From many discussions with investors and analysts, it is clear that we are on the right track.

Last year, we were able to show that our products represent real added value for more than 630,000 customers worldwide - especially in an environment marked by global challenges. With our connectivity and workflow solutions, companies can make their processes more efficient, deploy staff more economically and address skills shortage. They can minimize errors, reduce downtime in production, avoid expensive and time-consuming travel and also save significant amounts of CO2. In times of inflation, energy and climate challenges, our solutions deliver these needed benefits to businesses. That is why we were able to gain globally recognized brands as customers in the last year and significantly expand existing customer relationships - across all regions. For example, we support ABB, Böhringer Ingelheim, Coca-Cola, Deutsche Welle, DHL, Ford and Henkel in digitalizing business- critical processes to deliver efficiencies. Our solutions are in demand across all industries, from retail and logistics to healthcare and automotive.

We also did a lot for our more than 1,400 employees worldwide last year by giving them a great place to work. With tax-free Covid support payments and energy compensation bonuses, we have provided support where it is needed and rewarded them in recognition of their tireless efforts and outstanding

CONVENIENCE TRANSLATION

This translation is a working translation only. Legally binding and relevant is solely the German version.

performance in recent years. In addition, we launched an attractive share participation program for all employees to increase loyalty and give them a share in the future success of TeamViewer. And we have recruited new colleagues as needed, while many large technology companies have seen redundancies. We are proud that in this environment we attracted talented employees globally with our products, our business model, our future potential and not least our corporate culture.

What also sets us apart is our sustainability program c-a-r-e. With this program, we underline that we take our social and ecological responsibility seriously. In this context, we invited our employees to join working groups on topics of social relevance. These topics include diversity and inclusion, work-life balance and environmental protection. We are also working hard to become a climate-neutral company by 2025 at the latest. As an important additional step, we have joined the Science-Based Targets initiative. With this, we are committed to verifying our climate targets according to scientific standards and achieving net zero emissions by 2040. Our commitment to sustainability was reflected by Sustainalytics and MSCI, in two excellent ESG ratings that show we are leading our industry in this area.

From a financial perspective, we closed 2022 very successfully and - as already mentioned - within our guidance. We achieved billings of 635 million euros, which corresponds to an increase of 16 percent compared to the previous year. Revenue amounted to 566 million euros. This is a growth of 13 percent compared to 2021. Also our costs have developed positively and therefore we were once again able to demonstrate our strong profitability. With an adjusted billings EBITDA margin of 47 percent, we even reached the upper end of our guidance. On a revenue basis, the adjusted revenue EBITDA margin was 41 percent. Our earnings per share increased by 46 percent to 37 cents last year.

We also con�nue to be in an excellent posi�on in terms of liquidity, as TeamViewer operates a cash- generating business. Last year, cash flow increased by 9 percent to 172 million euros. Cash and cash equivalents stood at 161 million euros at the end of the year. And this was after we bought back 300 million euros worth of shares, thereby creating direct value for you. In addition, we reduced our debt by a net 286 million euros. Furthermore, to provide more stability and predictability, we have reduced the volatility of exchange and interest rates through hedging transactions. At this point, special thanks go to our new CFO Michael Wilkens, who has been instrumental in these improvements.

Let me briefly outline the four essential pillars that drove our success in 2022:

CONVENIENCE TRANSLATION

This translation is a working translation only. Legally binding and relevant is solely the German version.

Firstly, we have supplemented and strengthened our team and therefore our competences in critical positions and in decisive markets. Our two new colleagues on the Management Board already introduced themselves at last year's Annual General Meeting. In July 2022, Peter Turner joined us as Chief Commercial Officer, followed by Michael Wilkens as CFO in September. Both colleagues have made significant impact in their respective areas of responsibility from day one and contributed to the successful development of the company. We brought new country managers on board in several Asian countries. Furthermore, we have opened our APAC headquarters in Singapore and a new office in South Korea. This enabled us to successfully grow in the Asia-Pacific region.

Secondly, on the product side, we have harmonized our portfolio. We are targeting the market with a clear offering of remote access and support solutions for private and commercial use as well as workflow solutions for digitalization in industry. In doing so, we continue to cooperate with other technology providers and have implemented successful integrations of our remote connectivity solution, for example into the messaging service Slack and into the smart glasses of RealWear in 2022. TeamViewer continues to be a leader in the field of remote access and support, making it possible to remotely connect to, control, repair or maintain a large number of different devices with all relevant operating systems - just as if you were on site. In this context, we worked hard last year on the relaunch of our core product TeamViewer Remote, which we successfully introduced to the market just a few weeks ago. More on this in a moment in the outlook.

Thirdly, we have become a pioneering provider for the Industrial Metaverse in 2022. According to industry experts, our workflow platform Frontline, is leading the way. It combines technologies such as augmented and mixed reality with artificial intelligence. The aim is to support customers' employees in their activities on the frontline, i.e. to digitally enrich work processes in industry with the help of software and therefore significantly improve them. But it is also about documenting knowledge and deploying personnel in a more targeted manner. This is critical in addressing the current skills shortage. With regard to TeamViewer Frontline, we expanded existing partnerships and entered into new ones last year. For example, we integrated our Frontline logistics solution into SAP's warehouse management system, expanding our relationship with SAP. In addition, we announced a strategic partnership with Siemens in the middle of the year. The core of this cooperation is the integration of TeamViewer Frontline into Siemens' product lifecycle management solution. This allows product development processes to be improved with interactive 3D content on digital twins. And finally, together with Hyundai Motors, we have started to rethink the production processes in their

CONVENIENCE TRANSLATION

This translation is a working translation only. Legally binding and relevant is solely the German version.

car factory of the future in Singapore and support them with innovative technology. It makes us proud to be involved in this project and to be able to drive digitalization in automotive manufacturing.

Finally, in marketing and sales, our existing partnerships with Manchester United Football Club and the Mercedes-AMG Petronas Formula 1 Team have led to more visibility for our brand worldwide. At numerous events on the sidelines of football matches or Formula 1 races, our colleagues from sales were able to successfully present our solutions and engage in conversation with customers and partners. In addition, we were able to visit trade fairs and conferences again after the pandemic and participated in events held by our technology partners. Furthermore, we created our own series of events, the TeamViewer Experience Days, and implemented them successfully worldwide. This has helped us to contact new potential corporate customers.

All these measures were important to successfully complete 2022. Thank you to the entire team that contributed to this. It is always great to see the passion and commitment with which our employees drive the company forward and work every day to provide our customers, users and partners with the best software solutions. Many thanks for this.

Let me give additional context on the partnership with Manchester United. At the end of last year, we reached a mutually beneficial agreement with the club, giving them the option to buy back the rights to the main shirt sponsorship. This allowed Manchester United to commence a focused sales process for a new long-term shirt front partner. The aim is for TeamViewer to transition out of this role as soon as possible. Following this, TeamViewer would remain part of Manchester United's partner ecosystem until the end of the original contract term, i.e. up to and including the 2025/2026 season, at a significantly reduced amount. This would then have a significant positive effect on our profitability. However, we could continue to benefit from the very positive effects on our brand awareness.

I will now discuss the goals we have set ourselves for the current business year and the strategic initiatives with which we intend to achieve them.

We expect the high demand for our connectivity and workflow solutions to continue in 2023 despite ongoing macroeconomic uncertainties. Financially, we have therefore set ourselves the target of increasing our revenue by 10-14 per cent to 620-645 million euros this year. Our adjusted EBITDA margin on a revenue basis is expected to remain stable and strong at around 40 per cent.

CONVENIENCE TRANSLATION

This translation is a working translation only. Legally binding and relevant is solely the German version.

The following six initiatives will help us achieve our financial goals:

Firstly, we will underpin and expand our leadership in the field of remote connectivity for small and medium-sized enterprises, but also for non-commercial users. In this context, I would like to introduce you to TeamViewer Remote in a short video, which we launched at the end of April.

As you have seen, TeamViewer Remote is the next generation of our remote connectivity software, which is popular worldwide and used by hundreds of millions of people. The product that almost every IT administrator knows and with which we have grown up, we have now made even better. A new user interface, a uniform web and desktop application with a fully functional web client, as well as a simplified connection setup via one-click sessions are essential features of the new solution. We have also significantly increased product security, where we were already the industry leader. The web-first approach and the enhanced programming interfaces accelerate our ability to innovate. They also pave the way for the integration of our entire product portfolio as well as other third-party applications on one platform. With TeamViewer Remote, we deliver a modern, attractive product for important target groups such as small and medium-sized enterprises, professional IT service providers, but also the large number of non-commercial users who can help their friends and family with IT problems free of charge. With TeamViewer Remote, we will strengthen our core business.

The second strategic initiative concerns our remote connectivity product for large customers: TeamViewer Tensor. Here, we want to put a special focus on secure remote access and control of machinery and industry equipment, but also smart devices for catering, medical devices, or at home. Our goal is to build on already successful projects within specific industries and then replicate them with customers with similar use cases. In large enterprises, and especially in the case of critical infrastructure, security is paramount. We are therefore pleased that BitSight, a recognized cyber security rating platform, continues to rank us as the world's number one remote connectivity provider. The ranking also places TeamViewer overall among the best of all technology companies surveyed worldwide in terms of cyber security.

Our third priority is TeamViewer Frontline and the further development of our strategic technology partnerships. We were able to realize the first joint customer wins and successful projects with partners such as SAP and Siemens. Now it's about scaling the joint sales activities and customer implementations. To this end, we have reorganized our sales teams regionally and brought experienced managers from the industry on board. And of course, we continue to work on new