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x Date of Initial Investment: March 2016 Pre-Money Valuation at Initial Investment: $28M Current Company Valuation: $37M Other Key Investors: Khosla Ventures, BoxGroup, Allen & Company VALAR I EFTA00810268 granify Granify maximizes revenue for online retailers by identifying shoppers that aren't go

Dat of Initial Investment July 2017 Pre-Money Valuation at Initial Investment: $3 1 .0M Current Company Valuation: $42.5M Other Key Investors: Ribbit Capital, BoxGroup, SV Angel VALAR I 37 EFTA00810275 CO%:°A Coya is a full-stack European insurance challenger that will offer scalable protection at

4.8 ► -"c"; 4%,..„ Valar Cost Basis: Current FMV: Gross Multiple: Current Company Valuation: Other Key Investors: $5.4M $10.4M 1.9x $99.3M Khosla Ventures, BoxGroup, Allen & Company VALAR / 14 EFTA00810488 Valar Fund 3 / PCITOI 111:IIICC Fund 3 Performance Inception: July 2016 Capital Commitmen

S5/mo. tt- as 111 Valar Cost Basis: Current FMV: Gross Multiple: Current Company Valuation: Other Key Investors: $8.1M $8.1M 1.0x $42.5M Ribbit Capital, BoxGroup, SV Angel VALAR / 23 EFTA00810497 Valar Fund 4/ Port Fund 4 Portfolio Update Inception: January 2018 Capital Commitments: $133.4M

ders less. Recent Financing History: In March 2016, Even closed on a $9M Series A financing round, led by Valar Ventures, with participation from Khosla Ventures, Box Group, Allen & Company and others. Company Description: Granify maximizes revenue for online retailers by identifying shoppers that aren't goi

ft to wasted time and money. Recent Financing History: In July 2017, Valar Ventures led Jetty's $11.5M Series A financing, with participation from Ribbit Capital, BoxGroup, SV Angel and others. 16 I CONFIDENTIAL & TRADE SECRET VALAR EFTA00810526 VALAR FALL 2016 UPDATE Fund 3 Core Investments COYA Headq