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Pre-Money Valuation at Initial Investment: €44.0M Current Company Valuation: €55.8M Other Key Investors: Earlybird Capital, Wellington Partners VALAR I 29 EFTA00810267 Even Even is a financial app that ensures hourly workers always get at least their average pay. By offering consistency, E

3x Date of Initial Investment: May 2015 Pre-Money Valuation at Initial Investment: $7.5M Current Company Valuation: $70M Other Key Investors: Kindred, Goldcrest, SciFi VC (Max Levchin) VALAR 28 EFTA00810266 EyeEm EyeEm is a marketplace for commercial photography. The company's highly engage

s, Third Prime Capital, Contour VALAR / 19 EFTA00810493 Valar Fund 3 / Performance Drivers Petal Credit Underwriting Without FICO ca\ \GIs:0 VALAR / 20 EFTA00810494 Valar Fund 3 / ['orlon-Imre,' Drivers Petal Updates  Product went live in July with 5,000 cards issued to date. Forecast to

. Surface Magaxine Valar Cost Basis: Current FMV: Gross Multiple: Current Company Valuation: Other Key Investors: $12.4M $16.5M 1.3x $70.0M Kindred, Goldcrest, SciFi VC (Max Levchin) VALAR / 12 EFTA00810486 EFTA00810487 = Even The Even ago Offa Shen as a benefit COWn10210 t”e aap Valar

VALAR Summer 2017 Update EFTA00810510 VALAR SUMMER 2017 UPDATE Fund 1 Review FUND I PORTFOLIO UPDATE Fund 1 continues to perform well, with a 3.5x n

History: In March 2017, Kalo closed on a $10 million Series A extension round led by Valar Ventures, with participation from Goldcrest Investments, Kindred, Max Levchin and others. Kalo had previously closed on an $1 I.3M Series A financing round in June 2016 also led by Valar. The convertible notes he