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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

of Initial Investment: September 2016 Pre-Money Valuation at Initial Investment: €5.3M Current Company Valuation: €41.7M Other Key Investors: Alven Capital VALAR I 36 EFTA00810274 Jetty Jetty is a new kind of insurance company designed to help people in cities reach their goals faster by removi

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

ut ow, Snit:Waft Valar Cost Basis: $27.0M Current FMV: $52.3M Gross Multiple: 1.9x Current Company Valuation: El 55.0M Other Key Investors: Alven Capital I VALAR / 26 EFTA00810500 Valor Fund 41 CO :'A Digital, Flexible, Affordable Insurance EFTA00810501 Valar Fund 4 / •,,I I >1111C II IS

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

017, Valar led Qonto's E10M Series A financing with participation from Alven Multiple: 1.3x Capital, after Valar co-led the Series Seed round with Alven Capital in September 2016. Jetty Headquarters: New York Securities Held: Series A Preferred Stock Initial Investment Date: 7/17/17 Valar Cost Basis: