TeamViewer AG: TeamViewer to enter landmark partnership with Mercedes-AMG Petronas F1 Team and Mercedes-EQ Formula E Team

About TeamViewer

TeamViewer is a leading global technology company
that provides a connectivity platform to remotely access, control, manage,
monitor, and repair devices of any kind – from laptops and mobile phones to
industrial machines and robots. Although TeamViewer is free of charge for
private use, it has more than 550,000 subscribers and enables companies of all
sizes and from all industries to digitalize their business-critical processes
through seamless connectivity. Against the backdrop of global megatrends like
device proliferation, automation and new work, TeamViewer proactively shapes
digital transformation and continuously innovates in the fields of Augmented
Reality, Internet of Things or Artificial Intelligence. Since the company’s
foundation in 2005, TeamViewer’s software has been installed on more than 2.5
billion devices around the world. The company is headquartered in Goppingen,
Germany, and employs more than 1,300 people globally. In 2020, TeamViewer
achieved billings of EUR 460m. TeamViewer AG (TMV) is listed at Frankfurt Stock
Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.

About Mercedes-AMG Petronas Formula One Team

The Mercedes-AMG Petronas F1 Team is the works
Formula One Team of Mercedes-Benz, competing in the FIA Formula One(TM) World
Championship – the pinnacle of world motorsport and the largest annual sporting
series in the world. Based at two world-class technology campuses in the UK,
the team designs, develops, manufactures and races the race cars and Hybrid
Power Units driven by seven-time World Champion Lewis Hamilton and race-winning
team-mate Valtteri Bottas. Formula One is a uniquely demanding technical and
human challenge, requiring the right alchemy of cutting-edge technologies,
high-performance management and elite teamwork to deliver results at 23 Grands
Prix around the globe in a race season running from March to December. The
Mercedes-AMG Petronas F1 team set new benchmarks for F1(TM) success on its way
to winning the Constructors’ and Drivers’ World Championships in 2014, 2015,
2016, 2017, 2018, 2019 and 2020. During those seven Championship-winning
seasons, the team scored 100 wins, 200 podiums, 107 pole positions, 70 fastest
laps and 53 one-two finishes from 134 race starts.

About Mercedes EQ Formula E Team

Motorsport has been a core element of
Mercedes-Benz for more than 125 years. The first vehicle to bear the
Mercedes-Benz name was a racing car. In 2019, Mercedes-Benz added a new chapter
in its long and successful motorsport history: For the first time, two electric racing cars
from the new Mercedes-EQ Formula E Team are entering the racetrack. The ABB FIA
Formula E World Championship is the ideal platform to demonstrate the
performance of the Mercedes-EQ battery-powered electric vehicles, offering a
completely new kind of experience, which combines racing with a unique event
character. The team celebrated the first ever fully-electric race win for
Mercedes-Benz and ended their debut season in Formula E in third place in the
team championship. The Mercedes-EQ Formula E team benefits from the brand’s
many years of experience in motorsport and its technical know-how throughout
the entire Mercedes-Benz Motorsport-Family. By competing in two racing series –
Formula 1 and Formula E – in parallel, Mercedes transfer the lessons from both
to its road vehicle development. The two platforms combined will constitute a
major technology driver for the entire Mercedes-Benz family and help to shape
the future of the automobile.

IMPORTANT NOTICE
Certain statements in this communication may constitute forward looking
statements. These statements are based on assumptions that are believed to be
reasonable at the time they are made, and are subject to significant risks and
uncertainties, including, but not limited to, those risks and uncertainties
described in TeamViewer’s disclosures. You should not rely on these
forward-looking statements as predictions of future events and we undertake no
obligation to update or revise these statements. Our actual results may differ
materially and adversely from any forward-looking statements discussed in these
statements due to several factors, including without limitation, risks from
macroeconomic developments, external fraud, lack of innovation capabilities,
inadequate data security and changes in competition levels.

Alternative performance measures (APMs)
This document contains certain alternative performance measures (collectively,
“APMs”) including billings and Adjusted EBITDA that are not required
by, or presented in accordance with, IFRS, German GAAP or any other generally
accepted accounting principles. TeamViewer presents APMs because they are used
by management in monitoring, evaluating and managing its business and
management believes these measures provide an enhanced understanding of
TeamViewer’s underlying results and related trends. The definitions of the APMs
may not be comparable to other similarly titled measures of other companies and
have limitations as analytical tools and should, therefore, not be considered
in isolation or as a substitute for analysis of TeamViewer’s operating results
as reported under IFRS or German GAAP. APMs such as billings and Adjusted
EBITDA are not measurements of TeamViewer’s performance or liquidity under IFRS
or German GAAP and should not be considered as alternatives to results for the
period or any other performance measures derived in accordance with IFRS,
German GAAP or any other generally accepted accounting principles or as
alternatives to cash flow from operating, investing or financing activities.

TeamViewer has defined each of the following APMs
as follows:
“Billings” represent the (net) value of goods and services invoiced
to customers in a given period whose realization is probable – it is defined as
revenue adjusted for change in deferred revenue P&L-effective;
“Adjusted EBITDA” means EBITDA, adjusted for P&L-effective
changes in deferred revenue as well as for certain special items relating to
share based compensations and other material items that are not reflective of
the operating performance of the business;
“Adjusted EBITDA margin” means Adjusted EBITDA as a percentage of
billings.