Sophos Holdings LTD: Financial and Operational Results For 12 months Ended December 31st 2014.

The following sets out Sophos Holdings Limited’s selected group operational and financial results for the twelve months ended 31 December 2014.

Overall Billings:

$458m

Enduser Billings: $220.2m
UTM/NGFW Billings: $177.0m

Reported Billings Growth

18.0%

Enduser Billings Growth 7.9%

UTM/NGFW Billings Growth 43.5%

Revenue

$428.0m

Revenue Growth

13.0%

Cash EBITDA(1)

$111.5m

Cash EBITDA Margin(2)

24.3%

Operating Cash Flow(3)

$100.0m

Cash Conversion(4)

89.7%

(1) Sophos defines Cash EBITDA as EBITDA further adjusted for the difference between billings and revenue. Billings are only recognized if invoiced and cash is collected up front.

(2) Cash EBITDA Margin is calculated as Cash EBITDA as a percent of overall Billings.

(3) Operating Cash Flow is defined as Cash EBITDA less capital expenditures.

(4) Cash Conversion is calculated as Operating Cash Flow as a percentage of Cash EBITDA.