Technology IPO Situation Report

Technology IPOs and Aftermarket Trading Performance, Calendar Year 2019

Technology IPO Returns over Time, by Triton Score Quintile

Share price returns from IPO price

53%56%58%61%72%33%35%36%46%41%24%27%22%20%22%28%30%24%24%27%17%21%13%7%7% 0%10%20%30%40%50%60%70%80%IPO PriceDay 1 OpenDay 1 CloseDay 30 CloseDay 60 CloseDay 90 Close Quintile1Triton ScoresQuintile2Triton ScoresQuintile3Triton ScoresQuintile4Triton ScoresQuintile5Triton Scores 1/2/2020 10:22 PMCONFIDENTIALFOR DISCUSSION PURPOSES ONLYPage 1 of 1 Pages

Share price returns from first trade

3%5%8%16%3%2%7%6%2%-1%-4%-1%2%-2%-1%2%2%-3%-9%-9% ‐ 15% ‐ 10% ‐ 5%0%5%10%15%20%Day 1 OpenDay 1 CloseDay 30 CloseDay 60 CloseDay 90 Close Quintile1Triton ScoresQuintile2Triton ScoresQuintile3Triton ScoresQuintile4Triton ScoresQuintile5Triton Scores 1/2/2020 10:24 PMCONFIDENTIALFOR DISCUSSION PURPOSES ONLYPage 1 of 1 Pages

What is a Triton Score?

(interactive visualization on desktop)

2019 Tech IPOs