(' NortonLifeLock')(the ' Merger') or any other associated accounting impacts as a direct result of the Merger. The Avast Profit Forecast excludes any transaction costs applicable to the announced merger with NortonLifelock, Inc. These policies are consistent with those applied in the preparation of the Group's annual results for the year ended 31 December 2020. The Avast Profit Forecast has been prepared on a basis consistent with the Group's accounting policies which are in accordance with IFRS. 'Avast reaffirms its FY 2021 outlook for Revenue to be at the upper end of 6 – 8 percent growth, and a broadly flat Adjusted EBITDA margin percentage.' Set out below is the basis of preparation in respect of the Avast Profit Forecast, together with the assumptions on which it is based. The following statement of this announcement constitutes an ordinary course profit forecast for the purposes of Rule 28.1(a) and Note 2(b) on Rule 28.1 of the City Code on Takeovers and Mergers (the ' Code') (together, the ' Avast Profit Forecast'): Together, including the Group's browser clean-up business, referred to above as 'Discontinued Business'.Ĥ Adjusted EBITDA margin percentage is defined as Adjusted EBITDA divided by Revenue. Separately, on 30 January 2020, the Group decided to wind down the operation of its subsidiary Jumpshot Inc. The Company is exiting its toolbar-related search distribution business, which had previously been an important contributor to AVG's revenues. Deferred revenue is translated to USD at date of invoice and is therefore excluded when calculating the impact of FX on revenue.ģ Growth figures exclude Discontinued Business. It excludes current period billings and revenue of acquisitions until the first anniversary of their consolidation.Ģ Growth rate excluding currency impact calculated by restating 2021 actual to 2020 FX rates. Stephanie Kane, VP PR and Corporate Organic growth rate excludes the impact of FX, acquisitions, business disposals, and discontinued business. While we continue to see competitive pressures on customer acquisition, as previously indicated a number of initiatives are underway to drive customer engagement, acquisition and retention, including the rollout of our flagship Avast One platform, which commenced during the quarter. The core Consumer Direct business performed broadly in line with expectations as our other segments saw more muted billings growth. Billings growth accelerated through the quarter and we expect H2 billings growth of mid to high single digits. For the year to date, Revenue of $704.0m was up by 8.8% on an organic basis, and 6.8% at actual rates. Acquisitions, Disposals andįor the third quarter, Revenue of $232.7m was up by 5.6% on an organic basis 1, and 3.0% at actual rates.

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