Slide 1: Investor Presentation November 2020
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Slide 2: Disclaimer
Disclaimer Disclaimers disapproved of the Proposed Business Combination presented herein, or determined that this Presentation is truthful or complete. No representations or warranties, express or implied are given in, or in respect of, this Presentation. To the fullest extent permitted by law in no
Slide 3: Summary Transaction Overview
Summary Transaction Overview Transaction Description Transaction Structure Pro Forma Ownership Governance AvePoint, Inc. (‘AvePoint") and Apex Technology Acquisition Corp., “Apex” (NASDAQ: APXT) to combine to create a publicly listed company with a ~$2bn market capitalization® Post-closing entity wi
Slide 4: Apex Technology Acquisition Corp. Executive Team and Board
Apex Technology Acquisition Corp. (NASDAQ: APXT) ~ Executive Team and Board Apex Executive Team Bessemer Venture Partners ay Jeff Epstein , D Co-CEO and CFO Operating Partner at Bessemer Venture Partners Advises over 100 portfolio companies; daily interactions with CEOs and CFOs Served on 20 boards
Slide 5: AvePoint: Apex Technology Investment Thesis
AvePoint: Apex Technology Investment Thesis Market leading SaaS company Highly capable, technical leadership team Powerful tailwinds for Microsoft Cloud Key leader in Microsoft Cloud data management ©) High quality and diversified customer base Compelling financial results and business model
Slide 6: AvePoint is the Leading Data Management Solutions Provider for the Microsoft Cloud
AvePoint is the Leading Data Management Solutions Provider for the Microsoft Cloud A Data Management Leader in Massive and Rapidly Growing Microsoft Cloud Marketplace * TAM growth to ~$33bn by 20221 Large, Established Global Presence * Over 1,300 employees in 29 global offices * Approximately 7mm cl
Slide 7: Our History of Innovation
Our History of Innovation Subscription Cloud On-Prem Growth with SharePoint Adoption Conversion Acceleration Policies & Insights (PI); MyHub for Microsoft Partner Portal (AOS for Partners) 365 2017 2020 $148 Cloud Records DocAve V6 & 2017 AvePoint's Virtual Governance Assistant (AVA) Backup for Auto
Slide 8: Data Growth and the Cloud Have Entirely Changed the IT Landscape
Data Growth and the Cloud Have Entirely Changed the IT Landscape Digital Transformation / Shift to Cloud ‘ CAGR of cloud ue) storage “Explosive” Enterprise Data Growth CAGR of ee] enterprise data 4 Data Loss a Security issues Compliance Behavior Enterprises Deploying Digital Collaboration 9 Complex
Slide 9: Digital Transformation Has Accelerated During the Pandemic, With Microsoft Cloud Gaining Significant Momentum
Digital Transformation Has Accelerated During the Pandemic, With Microsoft Cloud Gaining Significant Momentum “We have seen two years’ worth of digital transformation in two months.” Satya Nadella, (04/29/2020) ; ; Microsoft Adrure ig se" Hl Microsoft 365 é@ OneDrive J dynamic#365 itt Te $48.4bn Clo
Slide 10: We Bridge the Gap Between What Microsoft Cloud Offers and What the Enterprise Requires
We Bridge the Gap Between What Microsoft Cloud Offers and What the Enterprise Requires What What the Microsoft Cloud Offers Enterprise Requires Compliance Seamless Better is Collaboration _. Decision Governance Office Making Transformation Integration 7 a a ‘ A AvePoint On-Premise Infrastructure Agn
Slide 11: AvePoint Solves Data Management Challenges at Any Stage in the Customer Cloud Journey
AvePoint Solves Data Management Challenges at Any Stage in the Customer Cloud Journey Transformation Governance Compliance Customer Needs + Information Lifecycle Management * Content & Collaboration Security * File Analysis and Discovery * Delegated Administration * Operational Governance/SaaS Mgmt
Slide 12: AvePoint Advantage
AvePoint Advantage A AvePoint’ Limitations of Existing Solutions Microsoft Utilizes full benefits of Microsoft : , (>) Cloud Focus Cloud (x) Lack Microsoft expertise mace @ Protects and prioritizes data (x) Challenged data protection 5 Significant expertise in compliance Do not adequately address Co
Slide 13: Customer ROI by the Numbers
Customer ROI by the Numbers Transformation Governance Compliance Teams adoption achieved after 1 mo of governance for our average Cloud implementation? Governance customer Reduced Risk Example fine reduction on 75mm International Traffic in Arms Regulations , Os k (‘ITAR") (compliance) Increased Ado
Slide 14: AvePoint Realizes the Benefits of Deep Focus on the Microsoft Cloud
AvePoint Realizes the Benefits of Deep Focus on the Microsoft Cloud Existing Horizontal Providers L | Microsoft Cloud Vertical Key Benefits of ‘Vertical’ Approach Quest TIBC@ CPMigration fara : ee Y More efficient go-to-market / Migration & ; Kaveroint g Integration talend rrecisely Waiegiagy - DocA
Slide 15: Our Relationship with Microsoft
Our Relationship with Microsoft Microsoft Designated Experts; Member of Several Product Councils One of the Largest Microsoft 365 Focused R&D Team Outside of Microsoft One of the Largest 3'4 Party SaaS Platform Built for Microsoft 365 Top 5 Microsoft Azure Co-Sell . ~ Partner; 5x Global Partner of t
Slide 16: Large and Growing Addressable Market
Large and Growing Addressable Market Tans Roeh | $ 1 ° 8 tn mu by 20224 Security 1 Cloud Integration Compliance & Migration? Additional - ~$33bn Cloud by 20225 MSFT Cloud - Growth Current - MSFT Cloud Size AvePoint Growth Outlook Microsoft 365 Users ~13% MSFT | Cloud AvePoint Share of total Penetrat
Slide 17: Effective Global Go-to-Market
Effective Global Go-to-Market Sales Organization Sales Segmentation GTM Model Customer Segment Over $2.5bn Primarily Direct, Some Indirect $250mm to $2.5bn Less than $250mm with Over 500 Users Opportunities 100% Indirect (VARs or MSPs, Direct or via Distributors) Less than 500 Users e Welcome & Onbo
Slide 18: Representative Customers: Diversified Blue Chip Base
Representative Customers: Diversified Blue Chip Base Retail / Consumer Pharma & Health Gov't / Education High Technology oe char 1s (laa i WPP saaai lic — Ages ee citi = @worldpay on ‘Deloitte. “Fidelity = iN Deloitte. rie girs “tt. 10 @ FUJITSU | Sainsbu s —= DENTAL Kreet “Denep Ms CREW | | H&R BLO
Slide 19: Case Study: US Department of State
Case Study: US Department of State The Challenge * 30,000+ employees * Protect and manage 13+ TB of content in SharePoint 2010 * Compliant migration to hybrid cloud & SharePoint 2016 * Data loss prevention during content restores * Produce audit and PII reports for security teams Results $7.3mm LTV
Slide 20: AvePoint Has Multiple Avenues for Growth
AvePoint Has Multiple Avenues for Growth = Continue impro' net retention Newly expanded Customer Success Group Substantial upside to current net retention rate of 106% Invest to grow to ARR organically Sales force e iency Additional JVs M&A opportunities Dedicated SMB Team ~100 Marketplaces and grow
Slide 21: Experienced and Proven Management Team
Experienced and Proven Management Team Tianyi (“TJ”) Jiang Xunkai (“Kai”) Gong Brian Brown Sophia Wu Chief Executive Officer Executive Chairman General Counsel & Chief Financial Officer Chief Operating Officer 23 Years Industry Experience 35 Years Industry Experience 22 Years Industry Experience 20
Slide 22: Financials
Financials
Slide 23: A Powerful Financial Model
A Powerful Financial Model Sa Strong Operating Leverage Predictable Multiple Growth Recurring Expansion Revenue Vectors + Conversion to + Increasing + Mix shift drives gross + Minimal capital subscription model penetration in key margin expansion expenditure requirements completed in 2018 customer s
Slide 24: Significant Shift to Recurring Revenue
Significant Shift to Recurring Revenue Total Revenue Mix $257mm $132mm $94mm 65% 72% 85% % Recurring Revenue HM Recurring Revenue HB Non-Recurring Revenue
Slide 25: Continued Improvement in Net Revenue Retention Rates
Continued Improvement in Net Revenue Retention Rates » Constantly innovating and expanding end-to-end data management software suite driving customer loyalty and stickiness » Increasing focus on customer success resulting in a reduction of down-sell and increase in up-sell / cross-sell bookings Net
Slide 26: Highly Attractive Financial Profile
Highly Attractive Financial Profile Quarterly Core ARR! ($mm) $95 $101 $85 $90 Z | [| 7 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 9 ca pdt bi 18% 19% 23% 25% 27% 29% Annual Revenue and Recurring Revenue? ($mm) $257 CAGR $193 $220 "19A-'22E $148 $157 $117 $115 38% $83 30% 2019A 2020E 2021E 2022
Slide 27: Summary Financial Profile
Summary Financial Profile (US$ in millions) Total Revenue % Growth Recurring Revenue* % Growth % of Revenue Gross Profit % Margin EBIT (Non-GAAP)? % of Revenue YTD 2019 YTD 2020 2019A 2020E 2021E 2022E "19A - '22E $51 $66 | = $117 $148 $193 $257 30% 29% | 26% 30% 33% $36 $49! $83 $115 $157 $220 38%
Slide 28: Transaction Summary
28 28 Transaction Summary 1) Represents ownership at close. Share count of 199.0mm composed of 1) 143.4mm shares held by existing AvePoint shareholders; 2) 35.0mm shares held by Apex public shareholders; 3) 14.0mm shares held by PIPE Investors; 4) 5.83mm of Apex S po nsor promote shares; and 5) 0.81
Slide 29: Attractive Valuation Multiple vs. Peers
Attractive Valuation Multiple vs. Peers 2021 & 2022 Firm Value / Revenue 22.9x A AvePoint alteryx @dynatrace A jamf Avalara Fiyeo) RingCentrar HubSpst 2020E-2022E ; 5 ¢ : RevenGIGAGR 32% 22% 23% 20% 23% 18% 23% 23% 20 pele 14% 11% 27% 11% (2%) 14% 10% 7% largin Implied 2021E Growth Adj. (028) 0.65x
Slide 30: AvePoint is in an Elite Class
AvePoint is in an Elite Class Total NYSE / NASDAQ Listed Software Companies = ms $150 rns ‘'20E Revenue —- ? Dy '19A-'20E Revenue Growth 5 -——— > 10~ '20E EBIT Margin Relevant Companies AA ATLASSIAN RingCentrar servicenow. —F A AvePoint’ s& zoominfo. ZOOM Video Communications
Slide 31: Appendix
Appendix
Slide 32: Case Study: Omron
Case Study: Omron omRon * Unify collaboration onto single Microsoft 365 tenant * Support for 28,000 employees as well as varying regional laws, protocols, directions for 120 regions and countries $¢2.4mm LTV * Automation of management tasks (scale IT) * Secure sharing on Teams, SharePoint Results Au
Slide 33: Case Study: ThermoFisher Scientific
Case Study: ThermoFisher Scientific The Challenge SCIENTIFIC * 70,000+ employees * The engineering firm required protection for staff personal data and workspaces * Data included intellectual property, permissions, customizations, $1.9mm LTV and other content stored on Microsoft 365 Results 500 TB o
Slide 34: Q3 2020 Flash Performance Update
34 34 Q3 2020 Flash Performance Update ($ in millions ) ¹Preliminary estimates of unaudited selected financial information for the three months ended September 30, 2020, which may d iff er from actual results. You should not place undue reliance upon these preliminary financial results. 2 Includes s
Slide 35: Long-Term Targets
35 35 Long - Term Targets Source: AvePoint Management. 1) See next slide for GAAP to non - GAAP reconciliation. Long - Term 2019A YTD 2020 2022E Target Gross Margin 69% ) 71% 74% 75%+ S&M as % of Revenue 46% ) 41% 41% 30%+ R&D as % of Revenue 9% ) 9% 11% ~10% + G&A as % of Revenue 17% ) 14% 15% ~10%
Slide 36: GAAP to Non-GAAP Reconciliation
36 36 GAAP to Non - GAAP Reconciliation Source: AvePoint Management. 1) Includes legal expenses, government grants, ASC 606 consulting fees, and other. (US$ in millions) YTD 2019 YTD 2020 2019A 2020E 2021E 2022E GAAP Operating Income (Loss) ($8.7) $2.9 ($18.0) $18.7 $6.5 $15.5 % Margin (17%) 4% (15%