RETENTION IS A MAJOR DRIVER OF VALUATION $350 100% Net Retention 110% $300 80% $250 Assumed 2019 $200 $200 60% 50% $180 Revenue Mult 10x 42% $150 $150 40% $115 $100 $85 35% $60 30% 20% 20% $50 $40 Enterprise $2.0bn $0 11% 0% Value 2013 2014 2015 2016 2017 2018 2019 S A A S T R A N N U A L 2 0 1 9