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1 ASX / Press Release 27 February 2017 Mitula Group Delivers Record Revenue, EBITDA and Profit in 2016 Has Strong Start to 2017 Highlights: The Mitula Group delivered $8.2m in profit after tax, an increase of 215.7% over 2015; Revenues increased by 36.2% to a $28.0m and Adjusted EBITDA increased by 32.9% to $12.7m both within the market guidance provided in November 2016; The strengthening of the Australian dollar had a negative impact on revenue which, on a constant currency basis, would have been $28.5m; During the year, the Company self-funded acquisitions and maintained a strong financial position with a cash balance of $20.5m at 31 December 2016; The Mitula Group started 2017 strongly with January being a record month for revenue, visits to its sites, and click outs to its advertising partners; and The Company has reconfirmed its guidance for 2017 and expects to deliver revenue of $38.0m to $41.0m with an Adjusted EBITDA of $17.0m to $19.0m. The Mitula Group Limited ( Mitula Group or Company ) (ASX: MUA), a leading global classifieds group, has released its full year preliminary financial report for the twelve months ending 31 December Key financial highlights for the twelve months ending 31 December 2016 include: Profit after tax increased by 215.7% over the previous corresponding period to $8.2m; Revenue increased by 36.2% to $28.0m within market guidance; Adjusted EBITDA increased by 32.9% to $12.7m within market guidance; Adjusted EBITDA margin was 45.3%; Operational cash flow increased by 25.2% to $11.0m; and Cash balance was $20.5m as at 31 December The Company started 2017 strongly with January being a record month for revenue, visits to its sites and click outs delivered to its partners.

2 Visits to the Mitula Group network of sites was 80.2m with 125.0m click outs being delivered to our advertising partners. KPI Jan 2017 Jan 2016 Growth Monthly Visits (million) % Monthly Click Outs (million) % Click Outs / Visit % Gonzalo del Pozo, CEO of The Mitula Group, commented: 2016 was a very good year for the Mitula Group. We delivered strong growth on all key financial metrics. Particularly pleasing was the 215.7% increase in profit after tax driven by strong growth in revenue and Adjusted EBITDA. Following the acquisition of Nuroa in February, and the launch of our fashion vertical and other new sites throughout the year, we now operate 88 vertical search sites across property, employment, motoring and fashion in 50 countries and 19 languages. In the second half of 2016 we accelerated the roll out of our growth strategy with new products accounting for 6.4% of revenue. In Tier 1 (Established) markets, we now provide advertisers with display advertising products and in Tier 2 (Emerging) markets we now provide end advertisers (e.g. agents, car dealers, and employers) with new ways to work more closely with the Mitula Group. In September, we took our first step in getting closer to the transaction with the acquisition of the DotProperty Group in SE Asia. This acquisition provides us with 10 property portals operating in 9 countries. This business continues to grow rapidly and will be a strong revenue contributor in This year started well for us with January being a record month for revenue, visits and click outs to our advertising partners. We continue to be on track to deliver our market guidance for CY 2016 Financial Performance (Statutory Accounts) On a statutory 1 basis, the Company delivered strong growth on all key financial measures. $000 s December 2016 December 2015 Growth Revenue 28,023 20, % Adjusted Operating Expenses (15,340) (11,025) 39.1% Adjusted EBITDA 12,683 9, % 1 The statutory accounts for 2016 reflect 12 months of Mitula Classified SL and Lokku Limited, 10 months of Nuroa Classified SL (acquired 29 February 2016) and 4 months of Dot Property Pte Ltd (acquired 2 September 2016). The statutory accounts for 2015 reflect 12 months of Mitula Classifieds SL and 8 months of Lokku Limited (acquired 8 May 2015).

3 Adjusted EBITDA Margin 45.3% 46.4% Profit After Tax 8,174 2, % NPAT Margin 29.2% 12.6% Operating Cash Flow 11,012 8, % Cash Balance (end of period) 20,462 21,003 (2.6%) Revenue The Company delivered a 36.2% year-on-year growth in revenue to $28.0m. This was within the market guidance provided on 10 November Mitula Group Revenue AdSense CPC New Revenue $28.0m $20.6m $10.7m $3.8m $5.3m CY 2012 CY 2013 CY 2014 CY 2015 CY 2016 While both AdSense and CPC revenues continued to grow, 2016 saw the emergence of new revenue streams that accounted for 6.3% of total revenue, the majority of which occurred in the second half of the year. These new revenue streams include the sale of display advertising products to existing and new customer segments (e.g. mortgage broking) in our Tier 1 (Established) markets, and the roll out of products and services that allow the Company to get closer to the transaction in our Tier 2 (Emerging) markets. In particular, the DotProperty Group, a network of property portals operating in Tier 2 and 3 markets, contributed $1.2m in new revenue during the last four months of the year.

4 Adjusted EBITDA There was a 32.9% increase in Adjusted EBITDA to $12.7m giving an Adjusted EBITDA margin of 45.3%. This was within the market guidance provided on 10 November Adjusted EBITDA ($m) and EBITDA Margin 14.0 $12.7m 60.0% % 10.0 EBITDA Margin $9.6m 40.0% $5.4m 30.0% % 2.0 $1.0m $1.9m 10.0% 0.0 CY 2012 CY 2013 CY 2014 CY 2015 CY % Adjusted EBITDA excludes $752,000 in one-off costs associated with IPO related share based payments and acquisition based costs to more accurately reflect the underlying operating performance of the business. During the year, the cost base increased primarily due to investment in new products and services and the inclusion of operating costs associated with the DotProperty Group. Impact of Currency The strengthening of the Australian dollar had a negative impact on the financials. Applying the 2015 average exchange rate to the 2016 financials would have resulted in $28.5m in revenue. $000 s December 2016 December 2015 Growth Revenue (Actual Currency) 28,023 20, % Revenue (Constant Currency) 28,536 20, %

5 Outlook The Mitula Group re-confirms its market guidance for 2017 as provided to the market on 10 November The Company expects to deliver revenue of $38.0m to $41.0m with an Adjusted EBITDA of $17.0m to $19.0m. ENDS About the Mitula Group The Mitula Group was founded in 2009 and is a leading digital classifieds group operating classifieds vertical search and portals sites. It operates 88 vertical search sites across property, employment, motoring and fashion in 50 different countries and 19 different languages. These sites operate under the Mitula, Nestoria and Nuroa brands. It operates 10 property portals in 9 South East Asian countries under the DotProperty and Thailand-property brands. The Mitula Group generates over 80 million visits per month to its network of classified vertical search and portal sites. The Mitula Group monetises visits to these sites through a range of products and services including Google AdSense, cost-per-click out ( CPC ) sales, cost-per-acquisition ( CPA ), display advertising, and listing sales. The Mitula Group customers include portals (property, employment and motoring), online fashion stores, general classified sites, real estate agents, developers and general display advertisers. The Company listed on the Australian Securities Exchange on 1 July 2015 and trades under the ticker code MUA. Further Information Gonzalo del Pozo CEO gonzalo@mitulagroup.com Simon Baker Chairman simon@mitulagroup.com