YEAR IN REVIEW

1. Reflects HEC-Dow Jones 2014, 2015, and 2016 annual rankings. HEC-Dow Jones 2014 ranking based off of PE firms that raised funds during the 2000 to 2009 period. HEC-Dow Jones 2015 ranking based off of PE firms that raised funds during the 2002 to 2011 period. HEC-Dow Jones 2016 ranking based off of PE firms that raised funds during the 2003 to 2012 period. See Disclosures for more information regarding rankings.

2. As of 9/30/2016. Source: Capital IQ. Includes all current Vista Equity Partners portfolio companies ranked against public software companies as measured by LTM EBITDA. There can be no assurance that historical trends will continue during the life of any Vista fund.

3. Current and prior Vista Portfolio Companies as of 12/31/2016.

4. Note: Past performance is not necessarily indicative of future results. There can be no assurance that historical trends will continue during the life of any VEP fund. Source: Pitchbook News & Analysis, Top SaaS Investor Since 2011, January 2016.

Disclosures: Certain performance rankings described herein (the “Rankings”), including but not limited to the 2014 and 2015 HEC-Dow Jones Private Equity Performance Ranking, were prepared by third parties using data, including but not limited to fund performance data, gathered through surveys, databases and other sources. The Rankings do not include information on all applicable private equity funds available for investment or all vintages of such private equity funds and therefore are necessarily incomplete. In particular, the Rankings do not include the results of private equity funds that were raised prior to or subsequent to the cut-off dates specified in the criteria for such Rankings. Inclusion of such private equity funds could materially affect the relative positioning of the private equity firms shown in the Rankings. In addition, the Rankings make certain assumptions and weightings, and other assumptions or weightings could lead to materially different results. Because the methodologies of the Rankings are proprietary, it is not possible for a private equity firm to assess the universe of private funds included, including an assessment of whether such funds have investment programs or risk/return profiles similar to that of the funds managed by such firm. Use of other methodologies might lead to a private equity fund or firm being ranked in a materially different position. In addition, any Ranking that represents an aggregate performance of any private equity firm’s funds, including but not limited to the 2014 and 2015 HEC-Dow Jones Private Equity Performance Ranking, is not necessarily indicative of any one investor’s experience. For the foregoing and other reasons, the Rankings may not be an appropriate measure by which to assess the performance of any private equity fund. HEC-Dow Jones 2014 ranking based off of PE firms that raised funds during the 2000 to 2009 period. HEC-Dow Jones 2015 ranking based off of PE firms that raised funds during the 2001 to 2011 period. These firms must have at least 2 funds with 1 year of full performance information available, raised at least $1BN during these time periods, and span at least 10 observation years (the sum of the ‘age’ of all funds as of October of the rankings year).

This document is intended to provide general information regarding Vista’s private equity investing expertise and not for the purpose of soliciting investors for any Vista Fund. Under no circumstances should the information provided be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made to accredited investors and qualified purchasers pursuant to the current offering documents of the relevant Vista Fund. The information provided is strictly confidential and may not be reproduced or disseminated to any third parties without the written consent of Vista. The investments shown is a complete list of transactions completed by Vista during 2016. There is no guarantee that future investments will be comparable. Certain of the transactions listed above were signed and agreed to expected to close subject to customary closing conditions and regulatory approvals (such as a shareholder vote). There can be no assurance that the acquisition will be consummated at all or on the current terms of the agreement. The past performance of previous Vista Funds and portfolio companies is not necessarily indicative of future results. Investors in Vista Funds may lose investment capital. There can be no assurance that any future Vista Funds or portfolio companies will achieve comparable results. ©2017 Vista