Sampling of Brands: TV Spend vs. “Search Queries” Q4 YOY % Increase

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Sampling of Brands: TV Spend vs. “Search Queries” Q4 YOY % Increase Investigation: Increased TV Spend Has A Propensity To Drive An Even Greater Amount Of Search Queries Sampling of Brands: TV Spend vs. “Search Queries” Q4 YOY % Increase 4Q “Year Over Year” Comparison (4Q ‘16 vs 4Q ’17) Search Queries Brand TV Spend Category +38% +135% Domestic Domestic +6% +92% Asian +12% +83% Asian +10% +31% European +52% +143% European +45% +170% VAB: A LOOK UNDER THE HOOD Source: VAB analysis of Nielsen Ad Intel data, TV spend (national cable TV, national broadcast TV, Spanish language broadcast TV, Spanish language cable TV, spot TV, syndication TV), Oct ’16 - Dec ‘16 vs Oct ’17 - Dec ‘17 (calendar months). Search queries based on VAB analysis of iSpot.tv data and reflects TV commercial-related searches (Google, Bing, Yahoo!). Search queries are correlated to TV ad airing data.

Sampling of Brands: TV Spend vs. “Search Queries” Q4 YOY % Increase Investigation: Conversely, Search Queries Declined Proportionally With Decreases In TV Spend Sampling of Brands: TV Spend vs. “Search Queries” Q4 YOY % Increase 4Q “Year Over Year” Comparison (4Q ‘16 vs 4Q ’17) Search Queries Brand TV Spend Category Domestic -50% -51% Domestic -19% -27% -5% -15% Asian -22% -24% European VAB: A LOOK UNDER THE HOOD Source: VAB analysis of Nielsen Ad Intel data, TV spend (national cable TV, national broadcast TV, Spanish language broadcast TV, Spanish language cable TV, spot TV, syndication TV), Oct ’16 - Dec ‘16 vs Oct ’17 - Dec ‘17 (calendar months). Search queries based on VAB analysis of iSpot.tv data and reflects TV commercial-related searches (Google, Bing, Yahoo!). Search queries are correlated to TV ad airing data.