Press release Trading Update Q4 and full year financial statements Financial information in this press release is unaudited

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1 Press release Trading Update Q4 and full year financial statements Financial information in this press release is unaudited TIE KINETIX Announces Strong Q4 Performance And Profitable Full Year 2014 Breukelen, the Netherlands, November 19 th, 2014 Fourth quarter (period July 1 September 30, 2014). Launch of Google Search Appliance activity in the Netherlands Q4 total revenue increased by 70% to 5.667k (Q4 2013: 3.324k) Q4 SaaS and hosting revenues grew with 91% to 2.346k (Q4 2013: 1.230k) Q4 EBITDA amounts to 459k (Q4 2013: - 65k), including 77k one-time expenses Q4 EBIT amounts to 219k (Q4 2013: - 890k), including 77k one-time expenses Subsequent event: update on partial repayment of EU development grants. No provision for partial repayments in FY TIE Kinetix (hereinafter TIE ), the leading provider of cloud-managed Integration, E-Commerce, Demand Generation, and Business Analytics services today released the results for the fourth quarter and full fiscal year 2014 (Oct 1, 2013 Sept 30, 2014) as follows: Highlights Q4 ( x 1,000) Business Integration Q Q E-Commerce Demand generation Business Analytics Revenues EU Projects Onetime income (5) (40) Total Revenue EBITDA 459 (65) EBIT 219 (825) 1 / 19 The 2014 numbers stated in this press release are unaudited

2 Highlights full year 2014 ( x 1,000) Business Integration FY FY E-Commerce Demand generation Business Analytics Revenues EU Projects Onetime income Total Revenue EBITDA EBIT 243 (1.220) Net income 445 (1.280) Revenue TIE closed a very strong fourth quarter, with revenue amounting to 5.667k, and EBITDA of 459k (8.0%). Therewith, the performance in the fourth quarter is a prolongation of the continuously improving performance in fiscal year Particularly our Integration products and E-Commerce solutions reported strong performance in the fourth quarter, both in our Dutch markets as well as in the US market. The following highlights the developments in our four business lines this year: Integration: our solutions are well positioned in various vertical markets such as food retail, publishing, do-it-yourself, telecommunications and automotive industries. This year TIE has a.o. concluded contracts with customers Plus Retail, Bunzl, Revlon, Nutricia, Sodexo, V&D, Royal Canin and Bugaboo. The strength of our offering is reflected in a position in Gartner s Magic Quadrant for Integration Brokerage. In fiscal year 2014, our Business Integration revenue grew with 9.3% from 8.207k (2013) to 8.967k (2014). E-Commerce: our E-Commerce proposition delivers webshop solutions with full back office integrations. Our customers are typically large scale telecommunications companies such as KPN and T-Mobile. In 2014, the contract with T-Mobile was renewed and provides for a multi-year partnership extending earlier service levels and covers even more T-Mobile products and services. In 2014, our E-Commerce revenue grew with 52% from 2.271k (2013) to 3.445k (2014). Demand Generation (before known as Content Syndication): TIE has repositioned our Demand Generation proposition into a modular solution, in an attempt to facilitate the market adoption. In 2014, TIE spent considerable efforts positioning its brand in the market but also recognized that this market is still very much in the development phase. TIE was able to conclude new business but not in the amounts that were initially foreseen. In 2014, our Demand Generation revenue increased with 262% from 1.266k (2013) to 4.584k (2014), fully as a result of the acquisition of the TFT activities. Analytics: with the acquisition of TFT, TIE Kinetix has become a dominant player in the German market for Analytics. TFT is a reseller of analytic tools (Google Search Appliance and Adobe) to the business community. As a full-service agency for web business performance and a pioneer in the field of user experience, Munich-based TFT provides e-commerce strategies, consulting services and managed-hosting solutions. It serves a number of highprofile customers such as blick.ch, Swisscom, wetter.com, FOCUS Online and HolidayCheck. TFT has been consolidated since its acquisition on December 2, In Q4, TIE acquired a foothold of Google Search Appliance customers in the Netherlands allowing it to further develop these activities in the Netherlands, using TFT expertise. In 2014 our Analytics revenue grew with 80% from 1.237k (2013) to 2.222k (2014). 2 / 19 The 2014 numbers stated in this press release are unaudited

3 Jan Sundelin (CEO) said: Our Q4 performance confirms that TIE has been able to successfully turn the corner and that TIE s operations are able to consistently generate positive cash flow. In 2014 our SaaS revenue grew to almost 8 million bringing our recurring revenue level close to 60% and our three year contract value to 34 million. This brings stability in our business and provides a solid basis for investment in marketing, sales and product development. Our Integration business continues to do well and we intend to actively exploit market opportunities in this business line. In 2014, our E-Commerce business expanded its relationship with T-Mobile in the Netherlands covering more T-Mobile products and services and includes active involvement in the successful launch of various new features. Our Demand Generation business did not bring the results that we planned for. The reason for this primarily lies in the immature market for this product and customer prudence to invest in our channel marketing automation tools. Given the sizeable customer investments in direct marketing automation tools, we expect that customer investments in channel marketing could be imminent. We therefore remain convinced about the market prospects for our product, but will reduce earlier planned investments. In 2014, we also expanded our Analytics business to the Netherlands with the acquisition of a small Google Search Appliance customer base. We are positive about our market opportunity in the Netherlands. Late October, we received a letter from the European Commission on possible repayments that TIE has to make. We are still studying the letter with our advisors, and whilst we recognize that certain formal procedures have not been met, we seriously question whether a full repayment of this is in the interest of all parties involved. On November 14 th, we signed an agreement with a guarantor for the maximum possible damages, ensuring our customers that they may count on our ability to deliver quality products and services, now and in the future. In the first quarter the acquisition and integration of the German company Tomorrow Focus Technologies GmbH, was completed on December 2 nd, In this report the results of TFT have been included as from that date. Acquisition costs amounted to 348k and have been reported under Professional Services in the Profit & Loss statement. In 2014, the Company reported the following highlights: TIE announces the acquisition of TFT in Germany TIE convenes an extra Ordinary General Meeting of shareholders TIE is technology provider in European Union Projects ALFRED and SAM Q4 trading update: revenue up 14% for the year 2013 and down 4% for the fourth quarter. Impairment loss and one time effects impact net result Publication of voting results of Extra Ordinary General Meeting of Shareholders November Closing of the acquisition of Tomorrow Focus Technologies TIE Kinetix and Objectif Lune sign worldwide mutual partnership agreement TIE Kinetix moves AGM to end of March Update pending litigation: Samar issues a damage claim Q1 interim management statement. 3 / 19 The 2014 numbers stated in this press release are unaudited

4 Convocation of Annual General Meeting of shareholders T-Mobile and TIE Kinetix enter into a new partnership Publication of voting results of Annual General Meeting of Shareholders Analyst Firm Sirius Decisions reviews TIE Kinetix Demand Generation platform for Channel Marketing TIE Kinetix is recognized as in Inaugural Gartner Magic Quadrant for Integration Brokerage Interim Consolidated Financial Statements and first half year results TIE appoints new Managing director for TIE- France TIE Kinetix announces Q3 highlights TIE Kinetix expands Google for Work partnership to the Benelux, reselling Google Search Appliance Subsequent Event TIE announces repayment of EU Development grants. On October 30, TIE KINETIX announced that it has received a notice from the European Commission for a partial repayment of EU development grants, following a recent audit carried out under supervision of the EC. Even though the projects had been audited by TIE s auditor in the past, and had executed to full satisfaction and the financial management was, according to the auditor, carried out in an acceptable manner, some of the procedures were not in compliance with the requirements of the EC. Although the EC commissioned audit was limited to three projects in the period , it may be expected that the findings will affect other projects and periods. TIE understands that certain formal regulations have not been followed, but questions whether it is in the interest of all parties involved to have form prevail over substance. TIE, and the European Union Associations in which it is actively involved have requested the European Commission to include this consideration when implementing the audit findings. At the same time, this situation forces TIE to reconsider its participation in current EU projects, the management thereof and the desirability of any future projects. TIE is currently recalculation the effect of extrapolation of the audit findings to other projects and periods. In case no solution can be found, TIE has no option but to withdraw from current projects, and can only be involved in future projects in a very limited way. Furthermore, TIE will discontinue its support to European Union associations such as Nessi and Big Data Value Association. TIE expects that it may take several months until the final financial implications for TIE will become clear. Since at this stage it is impossible to provide a reliable estimate of the financial implications to TIE, TIE has not created a provision in the FY 2014 accounts for it. On November 14 th, TIE KINETIX announced that it reached agreement with an undisclosed party to act as guarantor up to an amount of 2 million for funding of the damages caused by the partial repayment of EU development grants. Financial and Cash Position: Shareholders Equity amounts to 6.026k on September 30, 2014 ( 4,089k on September 30, 2013). On September 30, 2014 the Company held a cash position of 594k (September 30, k). The net cash flow from operating activities for the year amounted to 1.678k (2013: 992k). 4 / 19 The 2014 numbers stated in this press release are unaudited

5 Impairment of Intangible Assets: With the change of segment reporting - see below TIE Kinetix will be revising its model for impairment testing. TIE Kinetix will continue to use a DCF model with WACC and a 10 years horizon, however the cash generating units tailored to the new Business Lines. The impairment model is currently in the stage of final completion, and tests still have to be finalized. However, management has no reason to assume that intangible or tangible assets may have to be impaired, given the 2014 operational performance in all markets and TIE Kinetix projections for 2015 and beyond. Income Taxes: TIE carrying value of the Deferred Tax Asset in the Netherlands amounts to 353k (2013: 353k) and amounts in the US to $ 1.694k in the US (2013: $ 1.290k). For the US, management abandoned the 2 year limitation applied previously for tax loss carry forward compensation as a result of the consistent positive performance of the TIE Kinetix US operations. As a consequence the carrying value of the DTA has been increased with 363k, leading to a corresponding adjustment in tax charges in the profit and loss account. Three year contract value projection The three year contract value projection is the value of our current customer contracts with a going forward contract duration of three years or more. As at the end of Q4, 2014 the total three year contract value amounts to 34 million and is primarily driven by multi-year maintenance agreements, SaaS and Hosting agreements and EU projects. This provides TIE with a solid basis for further investments in Sales and Marketing and to further develop our SaaS offerings to service the Business to Business to Consumer markets. In calculating the three year contract value the following assumption is made: SaaS, Maintenance and support, and hosting contracts run between 12 and 36 months with an automatic renewal for 12 months. Since contracts may be renewed during the projected period of three years, the contracted value is adjusted based on historical churn rates. The acquisition of TFT brought an increase of three year contract value with more than 10 million, mainly in the SaaS revenue. Annual Accounts: The financial results of TIE presented here are unaudited. The audit of the Financial Statements will not be completed until the publication thereof in January Segmentation: Based on the management information used and the relative share of the various operating segments the Company until now recognized the following operational segments: - The Netherlands - TIE MamboFive (E-Commerce) - North America - France - Rest of World - DACH During 2014, the activities of Ascention GmbH in Ulm have been fully integrated with the activities of TFT GmbH in München and are now operating under the name of TIE Kinetix GmbH. 5 / 19 The 2014 numbers stated in this press release are unaudited

6 Starting October 1, 2014 management has decided to focus managerial responsibilities and management information to Business Lines, based on products. These business lines are: - Business Integration, - E-Commerce, - Demand Generation, and - Business Analytics. For each Business Line a responsible Vice President has been appointed, leading Business Line strategy and developments. This will result in new operating segments and reporting starting with Q1, As from that date operating segment reporting will be based on Business Lines, rather than on geographical area. Litigation update: Samar Since December 2007, TIE Kinetix has been involved in discussions and subsequently in legal proceedings with Samar. In July 2010, the Court ordered TIE Kinetix to pay full damages to Samar, of which TIE Kinetix already paid 898, In 2012, the Court of Appeal has ordered Samar to pay back the amount of 250,000 plus interest. In March 2013, Samar requested for suspension of payments. In June 2013, the Court declared Samar bankrupt, which was reversed by the Court of Appeal in September At the creditors meeting in November 2013 the Court decided to extend suspension of payments, against which TIE Kinetix appealed in March The Court of Appeal however extended the suspension for Samar. Given this outcome, TIE Kinetix foresees a lengthy procedure regarding Samar s damage claim without a quick outcome. TIE Kinetix has not made any provisions related to this claim. In February 2014, Samar issued a damage claim to TIE Kinetix, which amounts to 883,826. This claim is additional to the damages for which TIE Kinetix already paid 804,000 in Q TIE Kinetix made an initial review of Samar s claim and is of the opinion that the claim is excessive and unfounded. In June 2014, parties tried to establish a settlement but to no avail. For further information on these proceedings, reference is made to TIE Kinetix previous press releases on the matter and to the summary included in the paragraph "Legal Cases - Samar B.V. in TIE's 2013 Annual Report, page 60. Since at this stage it is impossible to provide a reliable estimate of the financial implications to TIE, TIE has not created a provision in the 2014 accounts for it. Forward looking statement/guidance This report contains information as referred to in the articles 5:59 jo. 5:53, 5:25d and 5:25 w of the Dutch Financial Supervision Act (Wet op het financieel toezicht). Forward looking statements, which can form a part of this report refer to future events and may be expressed in a variety of ways, such as expects, projects, anticipates, intends or similar words. The Company has based these forward looking statements on its current expectations and projections about future events. Risks and uncertainties Risks and TIE Kinetix s risk management strategy are detailed in the 2013 annual report and have not changed during This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances than may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future 6 / 19 The 2014 numbers stated in this press release are unaudited

7 expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the EU grant regime, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document. For further information, please contact: TIE Kinetix N.V. Jan Sundelin CEO or Michiel Wolfswinkel CFO Phone: About TIE Kinetix TIE Kinetix transforms the digital supply chain by providing Total Integrated E-Commerce solutions. These solutions maximize revenue opportunities by minimizing the energy required to market, sell and deliver online. Customers and partners of TIE Kinetix constantly benefit from innovative, field tested, state-of-the-art technologies, which are backed by over 25 years of experience and prestigious awards. TIE Kinetix makes technology to perform, such that customers and partners can focus on their core business. TIE Kinetix is a public company (Euronext Amsterdam: TIE), and has offices in the United States, the Netherlands, France, Australia, UK, Spain, Germany, Austria and Switzerland. 7 / 19 The 2014 numbers stated in this press release are unaudited

8 Unaudited condensed Full Year 2014 Financial Statements 30 September / 19 The 2014 numbers stated in this press release are unaudited

9 1. Consolidated statement of financial position As at September 30, / 19 The 2014 numbers stated in this press release are unaudited

10 Assets ( x 1,000) 30 September September 2013 Non Current Assets Intangible fixed assets Goodwill Other intangible fixed assets Tangible fixed assets Property, Plant and Equipment Financial fixed assets Loans and Receivables Deferred Tax Asset Loans and Receivables Total Non Current Assets Current Assets Trade Debtors Income Tax Receivable - 21 Taxation and Social Security Other Receivables and Prepayments Cash and Cash Equivalents Total Current Assets Total Assets Equity and Liabilities ( x 1,000) 30 September September 2013 Equity Shareholders Equity Convertible Bonds Total Equity Non Current Liabilities Loans Deferred Tax Liability Contingent Consideration Provisions Total Non Current Liabilities Current Liabilities Provisions - 20 Short term debt Bank overdraft 468 Trade Creditors Deferred Revenue Taxation and Social Security, Income tax Other Payables and Accruals Total Current Liabilities Total Equity and Liabilities / 19 The 2014 numbers stated in this press release are unaudited

11 2. Consolidated income statement Fiscal 2014 (October 1, 2013 September 30, 2014) ( x 1,000) Revenues Licenses Maintenance and Support Consultancy Software as a Service Revenues EU Projects Onetime income Total Revenue Third party hire (1.197) (736) Direct Purchase Costs (3.090) (1.422) Gross Profit Operating Expenses Employee Benefits Acquisition costs and onetime expenses Depreciation and Amortization Impairments Other Operating Expenses Total Operating Expenses Operating Income/(loss) 243 (1.220) Interest and other Financial Income 3 2 Interest and other Financial Expense (93) (16) Income/(loss) before Tax 153 (1.234) Corporate Income Tax 292 (46) Net Income/(loss) 445 (1.280) Comprehensive Income Net Income/(loss) 445 (1.280) Exchange differences on translating of foreign operations 108 (71) Total Comprehensive Income/(loss) net after Tax 553 (1.351) 11 / 19 The 2014 numbers stated in this press release are unaudited

12 2. Consolidated statement of changes in equity Fiscal 2014 (October 1, 2013 September 30, 2014) ( x 1,000) Share Capital (Incl Surplus) Retained Earnings Foreign Currency translation reserve Share-holders Equity Convertible Bonds Total Equity Balance per September 30, (51.135) (196) Foreign currency translation reserve - - (71) (71) - (71) Net Income - (1.280) - (1.280) - (1.280) Total Comprehensive Income (loss) - (1.280) (71) (1.351) - (1.351) Share based payments Other movements Balance per September 30, (52.377) (267) Foreign currency translation reserve Net Income Total Comprehensive Income (loss) Share based payments Other movements Balance per September 30, (51.905) (159) / 19 The 2014 numbers stated in this press release are unaudited

13 3. Consolidated cash flow statement Fiscal 2014 (October 1, 2013 September 30, 2014) ( x 1,000) Income before tax 153 (1.234) Adjustments: Share based payments expense Depreciation and amortization Increase (decrease) provisions (22) Working Capital Movements (Increase) decrease in debtors and other receivables (584) (508) (Decrease) increase in deferred revenue (Decrease) increase in current liabilities Cash generated (applied) in operations Interest paid (93) (12) Interest received 3 2 Income taxes paid (11) Net Cash flow from operating activities Investments in intangible fixed assets (998) (245) Acquisition of subsidiary net of cash acquired (2.873) (904) Investments in tangible fixed assets (137) (415) Net Cash flow generated / (used) in investing activities (4.008) (1.564) Increase (decrease) long term loans Issue of new shares Net Cash flow generated / (used) by financing activities Net increase (decrease) in Cash and Cash Equivalents 383 (539) Currency Exchange Rate Difference on opening balance 7 (4) Opening balance Cash and Cash Equivalents Closing balance Cash and Cash Equivalents / 19 The 2014 numbers stated in this press release are unaudited

14 About TIE Kinetix TIE Kinetix transforms the digital supply chain by providing Total Integrated E-Commerce solutions. These solutions maximize revenue opportunities by minimizing the energy required to market, sell and deliver online. Customers and partners of TIE Kinetix constantly benefit from innovative, fieldtested, state-of-the-art technologies, backed by over 25 years of experience and prestigious awards. TIE Kinetix makes technology to perform, such that customers and partners can focus on their core business. TIE Kinetix is a public company (Euronext Amsterdam: TIE), and has offices in the United States, the Netherlands, France, Australia, UK, Spain, Germany, Austria and Switzerland. For more information: For questions about this press release contact us at or Investor.Relations@TIEKinetix.com TIE Kinetix N.V. Jan Sundelin (CEO) or Michiel Wolfswinkel(CFO) De Corridor 5d 3621 ZA Breukelen T: E: info@tiekinetix.com W: Follow TIE Kinetix on Twitter: Follow TIE Kinetix on LinkedIn: Follow TIE Kinetix on Facebook: 14 / 19 The 2014 numbers stated in this press release are unaudited

15 Notes to the UNAUDITED consolidated financial report General Information TIE Kinetix N.V. is a public limited company established and domiciled in the Netherlands, with its registered office and headquarters at De Corridor 5d, 3621 ZA in Breukelen. The UNAUDITED Consolidated Financial report of the company for the year ended on September 30, 2014 include the company and all its subsidiaries (jointly called TIE Kinetix ). The financial year of TIE Kinetix commences on October 1 and closes on September 30. The UNAUDITED Consolidated Financial report for the financial year 2014 has been authorized for issue by both the Supervisory Board and the Management Board on November 18, Auditor s Involvement The interim financial report has not been audited by our external auditors. The Annual General Meeting of shareholders has appointed BDO on March 28 th, 2014 as external auditor for the year commencing on October 1, Statement of Compliance This UNAUDITED Consolidated Financial report does not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the annual financial statements as at September 30, We consider the accounting policies applied to the effect that the UNAUDITED condensed consolidated financial statements give a true and fair view of the Group s assets, liabilities and financial position as at September 30, 2014 and of the results of the Group s operations and cash flow in the period October 1, 2013 September 30, General Accounting Principles The accounting policies used in the preparation of the UNAUDITED Consolidated Financial report are consistent with those followed in the preparation of the Group s annual financial statements for the year ended September 30, This report is presented in x unless otherwise indicated. Accounting Estimates The preparation of the financial statements in accordance with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities, the determination of results and the reported contingent assets and liabilities. For a list of the judgments, estimates and assumptions, reference is made to the financial statements for Segment Information The Company operates in different countries, through subsidiaries. Historically, the following segments have been recognized: TIE Nederland; TIE MamboFive; North America; France; DACH; TFT; Rest of World. Starting October 1, 2014 management has decided to focus managerial responsibilities and management information to Business Lines, based on products. These business lines are: Business Integration; E-Commerce; Demand Generation, Business Analytics. 15 / 19 The 2014 numbers stated in this press release are unaudited

16 For each Business Line a responsible Vice President has been appointed, leading Business Line strategy and developments. This will result in new operating segments and reporting starting with Q1, As from that date operating segment reporting will be based on Business Lines, rather than on geographical area. Risks and Risk Management In the Annual Report 2013 (pages 60-61) we have outlined the strategic, operational and financial risks we face; the risk management and control mechanisms we have in place; and the risk analysis and assessments we conduct regularly. We believe that the nature and potential impact of these risks have not materially changed in We will continue to monitor the key risks closely and manage our internal control systems as new risks may emerge and current risks may change. Notes to the consolidated Financial Position as at September 30, 2014 Business Combinations On December 2, 2013, TIE Kinetix completed the acquisition of Tomorrow Focus Technologies GmbH (TFT), located in Munich, Germany. TIE Kinetix acquired 100% of the shares of TFT. The purchase price amounts to a fixed cash consideration of 3 million, a realized purchase price adjustment (reduction) of 100k and an employee share plan of 300k. The purchase price is financed through a seller loan ( 1 million), a non-recourse locally funded bank loan ( 1 million) and newly issued TIE Kinetix N.V. shares and warrants ( million). The assets acquired through this acquisition include: Balance sheet TFT ( x 1,000) Opening balance PPA adjustments Openingsbalance restated Other intangible fixed assets Property, Plant and Equipment Trade Debtors Other Receivables and Prepayments Cash and Cash Equivalents 2 2 Total Assets Shareholders Equity Provisions Provisions Trade Creditors Deferred Revenue Taxation and Social Security, Income tax Other Payables and Accruals Total Equity and Liabilities The purchase price consideration and goodwill calculation: 16 / 19 The 2014 numbers stated in this press release are unaudited

17 ( x 1,000) 1HY 2014 Cash paid Contingent Consideration 300 Total Purchase Price Consideration Net Fair Value of Assets and Liabilities 415 Goodwill including Customer Base Customer Base 303 Goodwill resulting from Business Combination Intangible Assets The movement in the Intangible Assets predominantly relate to the acquisition of TFT per December 2, 2013, for paid goodwill 2.482k and Customer Base 427k. The capitalization of development costs amount 759k. Tangible Assets The movement in tangible assets is mainly caused by the acquisition of TFT ( 225K). Cash On September 30, 2014 the Company held a net positive cash and cash equivalents position of 594k (September 30, k). The net cash flow from operating activities amounted to 1.779k (2013: 1.002k). Subsidiaries TIE Kinetix NV, acquired through its 100% subsidiary Gordian Investments BV, 100% of the shares in TIE TFT Holding GmbH, through which entity 100% of the shares of TFT GmbH have been acquired. Options During the reporting period no movements occurred. Equity (number of shares) Balance as of October 1, Issued Balance as at September 30, In (x 1,000) On December 2 nd, shares have been issued following approval of the extra Ordinary Meeting of shareholders held on November 28 th, At the same date for every share, two warrants have been issued. Each warrant entitles to holder to purchase a newly issued TIE Kinetix share at 7,00 until December 2, All shares and warrants issued on December 2, 2013 have a 1 year lock up period in which they cannot be traded or converted. 17 / 19 The 2014 numbers stated in this press release are unaudited

18 Notes to the consolidated Statement of Comprehensive Income Segment information For financial year 2014: ( x 1,000) Revenues The Netherlands TIE MamboFive North America France DACH/TFT Rest of World Holding and Eliminations Licenses Maintenance and Support Consultancy Software as a Service Revenues EU Projects Other Income (789) 142 Total Revenue (789) Third Party Hire (101) (188) (18) 3 (891) (2) - (1.197) Direct Purchase Costs (581) (675) (699) (106) (1.760) (286) (3.090) Gross Profit Total Operating Expenses Employee Benefits Acquisition costs and onetime expenses Other Operating Expenses (1.491) Depreciation & Amortization Total Operating expenses EBITDA (602) 35 (88) expense and Impairment loses EBIT (765) (124) (234) 243 Interest and Other Financial Income Interest and other Financial Expense (39) - (55) (93) Income/(loss) before Tax (804) (124) (289) 153 Corporate Income Tax (42) Net Income/(loss) (785) (124) (289) 445 For financial year 2013: Revenues The Netherlands TIE MamboFive North America France DACH Rest of World Holding and Eliminations Licenses Maintenance and Support Consultancy Software as a Service Revenues EU Projects Other Income (1.205) 354 Total Revenue (1.205) Third Party Hire (117) (39) (110) (2) (466) - (2) (736) Direct Purchase Costs (592) (546) (822) (167) (150) (351) (1.422) Gross Profit (1) Total Operating Expenses Employee Benefits Acquisition costs and onetime expenses Other Operating Expenses Total Operating expenses EBITDA (160) 413 (2.039) 146 Depreciation & Amortization Expenses Impairments EBIT (863) 282 (2.110) (1.220) Interest and Other Financial Income Interest and other Financial Expense (1) (11) - - (3) - (1) (16) Income/(loss) before Tax (866) 282 (2.110) (1.234) Corporate Income Tax - (1) (37) (2) - - (6) (46) Net Income/(loss) (866) 282 (2.116) (1.280) 18 / 19 The 2014 numbers stated in this press release are unaudited

19 Personnel The total number of FTE by department are: Number of FTE per department at year end Research and Development Sales and marketing Consultancy and support General and administrative Breukelen, November 19, 2014 M. Wolfswinkel J.B. Sundelin Executive Board 19 / 19 The 2014 numbers stated in this press release are unaudited