<SEC-DOCUMENT>0001140361-21-033016.txt : 20210930
<SEC-HEADER>0001140361-21-033016.hdr.sgml : 20210930
<ACCEPTANCE-DATETIME>20210930092002
ACCESSION NUMBER:		0001140361-21-033016
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210930
DATE AS OF CHANGE:		20210930

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Taboola.com Ltd.
		CENTRAL INDEX KEY:			0001840502
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-257879
		FILM NUMBER:		211293851

	BUSINESS ADDRESS:	
		STREET 1:		16 MADISON SQUARE WEST, 7TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010
		BUSINESS PHONE:		(212) 206-7663

	MAIL ADDRESS:	
		STREET 1:		16 MADISON SQUARE WEST, 7TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>ny20000842x4_424b3.htm
<DESCRIPTION>424B3
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
         Document created using EDGARfilings PROfile 7.5.1.0
         Copyright 1995 - 2021 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9b7a25fc976047c2b67454b7fb39334b" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 58.76%; vertical-align: top;">
              <div>PROSPECTUS SUPPLEMENT</div>
            </td>
            <td style="width: 41.24%; vertical-align: top;">
              <div style="text-align: right;">Filed pursuant to Rule</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.76%; vertical-align: top;">
              <div>(To Prospectus dated September 2, 2021)</div>
            </td>
            <td style="width: 41.24%; vertical-align: top;">
              <div style="text-align: right;">424(b)(3) of the Rules and</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.76%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
            </td>
            <td style="width: 41.24%; vertical-align: top;">
              <div style="text-align: right;">Regulations Under the</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.76%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
            </td>
            <td style="width: 41.24%; vertical-align: top;">
              <div style="text-align: right;">Securities Act of 1933</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.76%; vertical-align: top;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.24%; vertical-align: top;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 58.76%; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
            </td>
            <td style="width: 41.24%; vertical-align: top;">
              <div style="text-align: right;">Registration Statement No. 333-257879</div>
            </td>
          </tr>

      </table>
      <div style="color: #000000; font-size: 8pt;">&#160;</div>
      <div>&#160;</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">TABOOLA.COM LTD.</div>
      <div>&#160;</div>
      <div style="text-align: center; color: #000000;">Ordinary Shares<br>
        Warrants to Purchase Ordinary Shares</div>
      <div>&#160;</div>
      <div style="color: #000000;"><u>Recent Developments</u></div>
      <div>&#160;</div>
      <div style="color: #000000;">We have attached to this prospectus supplement, and incorporated by reference into it, the Form 6-K of Taboola.com Ltd.</div>
      <div>&#160;</div>
      <div style="color: #000000;">This prospectus supplement, together with the prospectus, is to be used by the selling shareholders listed in the prospectus in connection with offers and sales from time to time of the ordinary shares and warrants to
        purchase ordinary shares of Taboola.com Ltd.</div>
      <div>&#160;</div>
      <div style="color: #000000;">September 30, 2021</div>
      <div>&#160;</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">
      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;" align="center"><font style="font-size: 14pt;">UNITED STATES</font></div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="text-align: center; color: #000000;">For the month of September 2021</div>
    <div style="text-align: center;">
      <hr style="height: 1px; width: 10%; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
    <div style="text-align: center; color: #000000; font-weight: bold;">Commission File Number: 001-40566</div>
    <div><br>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold;">TABOOLA.COM LTD.</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">16 Madison Square West 7th Floor</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">New York, NY 10010</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">(Address of principal executive office)</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</div>
    <div><br>
    </div>
  </div>
  <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z35e0d9f142be4b24b72c4c068947c5fa" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
          <div style="text-align: center; color: rgb(0, 0, 0);">Form 20-F</div>
        </td>
        <td style="width: 18%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: center; color: rgb(0, 0, 0);">X</div>
        </td>
        <td style="width: 8%; vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
        <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
          <div style="text-align: center; color: rgb(0, 0, 0);">Form 40-F</div>
        </td>
        <td style="width: 18%; vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
      </tr>

  </table>
  <div>
    <div><br>
    </div>
  </div>
  <div>
    <div style="text-align: center; color: #000000;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</div>
    <div><br>
    </div>
  </div>
  <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zed6e2c8def4f44dfb186cfaaa0e4fba9" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
          <div style="text-align: center; color: rgb(0, 0, 0);">Yes</div>
        </td>
        <td style="width: 18%; vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 8%; vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
        <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
          <div style="text-align: center; color: rgb(0, 0, 0);">No</div>
        </td>
        <td style="width: 18%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: center; color: rgb(0, 0, 0);">X</div>
        </td>
        <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
      </tr>

  </table>
  <div>
    <div><br>
    </div>
  </div>
  <div>
    <div style="text-align: center; color: #000000;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</div>
    <div><br>
    </div>
  </div>
  <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zbb51866e97cf45cba4cdd3987c7fd24b" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
          <div style="text-align: center; color: rgb(0, 0, 0);">Yes</div>
        </td>
        <td style="width: 18%; vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td style="width: 8%; vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
        <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
          <div style="text-align: center; color: rgb(0, 0, 0);">No</div>
        </td>
        <td style="width: 18%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: center; color: rgb(0, 0, 0);">X</div>
        </td>
        <td style="width: 8%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
      </tr>

  </table>
  <div>
    <div><br>
    </div>
  </div>
  <div>
    <div>
      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"></div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
  </div>
  This report on Form 6-K is being filed and shall be incorporated by reference in any registration statement filed by Taboola under the Securities Act, that permits incorporation by reference.<br>
  <div>
    <div><br>
    </div>
  </div>
  <div>
    <div style="text-align: center; color: #000000; font-weight: bold;">TABLE OF CONTENTS</div>
  </div>
  <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="ze63b97ccfec543ca9cc4baaf52425158" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 10.2%; vertical-align: top;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Exhibit No.</div>
        </td>
        <td style="width: 89.8%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
      </tr>
      <tr>
        <td rowspan="1" style="width: 10.2%; vertical-align: top; background-color: rgb(204, 238, 255);"><a href="#Exhibit991">99.1</a></td>
        <td rowspan="1" style="width: 89.8%; vertical-align: top; background-color: rgb(204, 238, 255);">
          <div>Interim&#160; Consolidated Financial Statements (Unaudited) as of and for the three and six months ended June 30, 2021.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 10.2%; vertical-align: top;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif;"><a href="#Exhibit992">99.2</a></div>
        </td>
        <td style="width: 89.8%; vertical-align: top;">
          <div style="color: rgb(0, 0, 0);">
            <div>Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.</div>
          </div>
        </td>
      </tr>

  </table>
  <div>
    <div><br>
    </div>
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after:always;" id="DSPFPageBreak">
      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
  </div>
  <div>
    <div><br>
    </div>
  </div>
  <div>
    <div style="text-align: center; color: #000000; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
  </div>
  <div>
    <div style="text-indent: 18pt; color: #000000;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
    <div><br>
    </div>
  </div>
  <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z76a22cde08da475eaee8c857e20f94d2" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 50%; vertical-align: top;">&#160;</td>
        <td colspan="3" style="vertical-align: top;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TABOOLA.COM LTD.</div>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; vertical-align: top;">&#160;</td>
        <td style="width: 4.97%; vertical-align: top;">&#160;</td>
        <td style="width: 6.01%; vertical-align: top;">&#160;</td>
        <td style="width: 38.95%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        <td style="width: 4.97%; vertical-align: top; padding-bottom: 2px;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">By:</div>
        </td>
        <td colspan="2" rowspan="1" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">/s/ Stephen Walker</div>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; vertical-align: top;">&#160;</td>
        <td style="width: 4.97%; vertical-align: top;">&#160;</td>
        <td style="width: 6.01%; vertical-align: top;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Name:</div>
        </td>
        <td style="width: 38.95%; vertical-align: top;">
          <div style="color: rgb(0, 0, 0);">
            <div>Stephen Walker</div>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; vertical-align: top;">&#160;</td>
        <td style="width: 4.97%; vertical-align: top;">&#160;</td>
        <td style="width: 6.01%; vertical-align: top;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Title:</div>
        </td>
        <td style="width: 38.95%; vertical-align: top;">
          <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Chief Financial Officer<br>
          </div>
        </td>
      </tr>

  </table>
  <div>
    <div><br>
    </div>
    <div><br>
    </div>
  </div>
  <div>
    <div style="text-align: justify; color: #000000;">Date: September 30, 2021</div>
    <div><br>
    </div>
    <hr style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; color: #000000; text-align: center;" align="center" noshade="noshade"></div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div>
    <div style="text-align: right;">
      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"><font style="font-weight: bold;"><a name="Exhibit991"><!--Anchor--></a>Exhibit

        99.1</font><br>
    </div>
    <div><br>
    </div>
    <div>
      <div style="text-align: center; font-weight: bold;">TABOOLA.COM LTD. AND ITS SUBSIDIARIES</div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">INTERIM CONSOLIDATED FINANCIAL STATEMENTS</div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">AS OF JUNE 30, 2021</div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">UNAUDITED</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: center; font-weight: bold;">INDEX</div>
      <div><br>
      </div>
      <table id="z46037edb5b5748878fee894ca4877daa" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;"> Page</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold;">Consolidated interim Balance Sheets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold; text-align: center;">2</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: center; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold;">Consolidated interim Statements of Income (Loss)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold; text-align: center;">3</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: center; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold;">Consolidated Statement of Convertible Preferred Shares and Shareholders' Equity</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold; text-align: center;">4</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: center; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold;">Consolidated interim Statements of Cash Flows</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold; text-align: center;">6</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: center; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 88%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold;">Notes to Consolidated interim Financial Statements</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div style="font-weight: bold; text-align: center;">7-21</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <!--PROfilePageNumberReset%Num%2%- %- %-->
      <div style="text-align: justify;"><br>
      </div>
      <div>
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
      </div>
      <div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">CONSOLIDATED INTERIM BALANCE SHEETS</div>
      </div>
      <div style="font-weight: bold;">
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
      <div style="font-weight: bold;"> <br>
      </div>
      <table id="ze0eae7eab69d4e26b8cfa55833b2e691" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> June 30,</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;">December 31,</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> 2021</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Audited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top;" valign="bottom">
              <div style="margin-left: 19.85pt;">ASSETS</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top;" valign="bottom">
              <div>CURRENT ASSETS</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="margin-left: 11.35pt;">Cash and cash equivalents</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>585,243</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>242,811</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 22.7pt;">Restricted deposits</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>1,061</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>3,664</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 22.7pt;">Trade receivables (net of allowance for credit losses of $4,452 and $4,096 as of June 30, 2021, and December 31, 2020, respectively)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>139,019</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>158,050</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 22.7pt;">Prepaid expenses and other current assets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>37,636</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>21,609</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>Total current assets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>762,959</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>426,134</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div>NON-CURRENT ASSETS</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 22.7pt;">Long-term prepaid expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>20,923</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>5,289</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="margin-left: 11.35pt;">Restricted deposits</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>3,367</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>3,300</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="margin-left: 11.35pt;">Deferred tax assets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>2,281</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>1,382</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="margin-left: 11.35pt;">Right of use assets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>58,385</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>68,058</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="margin-left: 11.35pt;">Property and equipment, net</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>58,310</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>52,894</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="margin-left: 11.35pt;">Intangible assets, net</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>2,627</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>3,905</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div style="margin-left: 11.35pt;">Goodwill</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>19,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>19,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>Total non-current assets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>165,099</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>154,034</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div>Total assets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>928,058</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>580,168</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -14.2pt; margin-left: 25.55pt;">LIABILITIES, CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div>CURRENT LIABILITIES</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="margin-left: 11.35pt;">Trade payable</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>157,658</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>189,352</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="margin-left: 11.35pt;">Lease liability</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>15,287</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>15,746</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div style="margin-left: 11.35pt;">Accrued expenses and other current liabilities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>101,029</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>95,135</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>Total current liabilities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>273,974</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>300,233</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div>LONG TERM LIABILITIES</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div>Deferred tax liabilities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>27</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>45</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div>Warrant Liability</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>54,155</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div>Lease liability</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>52,564</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>63,044</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>Total long-term liabilities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>106,746</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>63,089</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div>COMMITMENTS AND CONTINGENCIES (Note 7)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div>CONVERTIBLE PREFERRED SHARES</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="margin-left: 11.35pt;">Preferred A, B, B-1, B-2, C, D and E shares with no par value - Authorized: 0 and 123,389,750 shares at June 30, 2021 and at December 31, 2020 respectively; Issued and outstanding: 0 and 121,472,152 shares
                at June 30, 2021 and December 31, 2020 respectively.</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div>SHAREHOLDERS' EQUITY</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="margin-left: 11.35pt;">Ordinary shares with no par value- Authorized:700,000,000 and 176,535,661 shares as of June 30, 2021, and December 31, 2020, respectively; shares issued and outstanding of 211,198,259 and 41,357,049 as of
                June 30, 2021 and December 31, 2020, respectively.</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="margin-left: 11.35pt;">Additional paid-in capital</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>621,664</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>78,137</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="margin-left: 11.35pt;">Accumulated deficit</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(74,326</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(31,497</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>Total shareholders' equity</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>547,338</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>46,640</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div>Total liabilities, convertible preferred shares, and shareholders' equity</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>928,058</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>580,168</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">The accompanying notes are an integral part of these unaudited consolidated interim financial statements.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 2- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
      <div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div style="text-align: justify; font-weight: bold;">CONSOLIDATED INTERIM STATEMENTS OF INCOME (LOSS)</div>
        <div style="text-align: justify; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"> </div>
      </div>
      <div style="font-weight: bold;">U.S. dollars in thousands, except share and per share data</div>
      <div><br>
      </div>
      <table id="z326aeb31d2e54d84a315cffd221c88bf" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Three months ended</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Six months ended</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="14" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Revenues</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>329,072</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>267,668</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>632,022</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>547,014</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Cost of revenues:</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: 2.15pt; margin-left: 11.35pt;">Traffic acquisition cost</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>212,202</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>168,783</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>409,238</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>379,161</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: 2.15pt; margin-left: 11.35pt;">Other cost of revenues</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>16,625</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>14,781</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>33,040</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>30,973</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Total cost of revenues</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>228,827</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>183,564</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>442,278</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>410,134</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Gross profit</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>100,245</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>84,104</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>189,744</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>136,880</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Operating expenses:</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Research and development expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>30,050</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>21,908</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>53,943</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>43,907</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Sales and marketing expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>69,136</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>31,396</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>103,444</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>66,832</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">General and administrative expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>54,468</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>12,576</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>64,144</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>27,755</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Total operating expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>153,654</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>65,880</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>221,531</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>138,494</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Operating income (loss) before finance expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(53,409</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>18,224</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(31,787</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(1,614</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Finance expenses, net</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(85</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(654</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(883</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Income (loss) before income taxes</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(53,494</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>17,570</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(32,670</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(1,820</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Provision for income taxes</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(7,922</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(4,665</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(10,159</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(9,128</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; padding-bottom: 4px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Net income (loss)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>(61,416</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>12,905</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>(42,829</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>(10,948</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Less: Undistributed earnings allocated to participating securities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(6,029</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(5,646</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(11,944</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(11,228</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Net income (loss) attributable to ordinary shareholders, basic and diluted</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(67,445</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>7,259</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(54,773</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(22,176</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Net income (loss) per share attributable to ordinary shareholders, basic</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(1.39</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>0.19</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(1.18</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(0.54</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, basic</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>48,518,124</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>37,895,239</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>46,351,830</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>41,217,908</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Net income (loss) per share attributable to ordinary shareholders, diluted</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(1.39</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>0.12</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(1.18</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(0.54</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, diluted</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>48,518,124</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>60,096,610</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>46,351,830</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>41,217,908</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">The accompanying notes are an integral part of the unaudited consolidated interim financial statements.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 3- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
      <div>
        <div><br>
        </div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="font-weight: bold;">CONSOLIDATED STATEMENT OF CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY</div>
      </div>
      <div style="font-weight: bold;">
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
      <div><br>
      </div>
      <table id="zd40128c640c64a459ba9153f85142e0e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Convertible Preferred shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Ordinary shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Additional paid-in</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Accumulated</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
              <div> </div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Shareholders&#8217;</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">capital</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">deficit</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of December 31, 2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>41,357,049</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>78,137</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(31,497</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>46,640</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Conversion of Preferred Shares to Ordinary Shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Issuance of Ordinary Shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>43,971,516</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>284,482</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>284,482</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Share based compensation expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>83,920</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>83,920</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Exercise of options and vested RSUs</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>4,397,542</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>4,919</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>4,919</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Net loss</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(42,829</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(42,829</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; padding-bottom: 4px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of June 30, 2021 (unaudited)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>211,198,259</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>621,664</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>(74,326</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>547,338</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <table id="z35bb5068a0ae4b8fad1d375caf159fa2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Convertible Preferred shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Ordinary shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Additional paid-in</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Accumulated</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
              <div> </div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Shareholders&#8217;</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">capital</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">deficit</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of December 31, 2019</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>44,903,273</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>47,257</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(39,990</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>7,267</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Cancellation of restricted shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(7,411,689</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Share based compensation expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>4,493</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>4,493</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Exercise of options</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>525,073</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>677</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>677</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Net loss</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(10,948</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(10,948</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; padding-bottom: 4px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of June 30, 2020 (unaudited)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>38,016,657</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>52, 427</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>(50,938</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>1,489</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <table id="zc2ab0a7388c84bd388f8d485941a6427" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Convertible Preferred shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Ordinary shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Additional paid-in</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Accumulated</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Capital</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">deficit</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of March 31, 2021 (unaudited)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>44,195,735</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>86,941</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(12,910</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>74,031</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Conversion of Preferred Shares to Ordinary Shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Issuance of Ordinary Shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>43,971,516</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>284,482</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>284,482</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Share based compensation expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>78,667</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>78,667</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Exercise of options and vested RSUs</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>1,558,856</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>1,368</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>1,368</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Net loss</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(61,416</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(61,416</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; padding-bottom: 4px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of June 30, 2021 (unaudited)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>211,198,259</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>621,664</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>(74,326</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
              <div>547,338</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 4- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
      <div>
        <div><br>
        </div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="font-weight: bold;">CONSOLIDATED STATEMENT OF CONVERTIBLE PREFERRED SHARES AND SHAREHOLDERS' EQUITY</div>
      </div>
      <div style="font-weight: bold;">
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
      <div><br>
      </div>
      <table id="z14494cd0093740ed8468e24dfb68192e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Preferred shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Ordinary shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Additional paid-in</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Accumulated</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Amount</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Capital</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">deficit</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of March 31, 2020 (unaudited)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>37,584,823</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>49,804</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(63,843</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>(14,039</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Share based compensation expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>2,223</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>2,223</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Exercise of options</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>431,826</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>400</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>400</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Net loss</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>12,905</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>12,905</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 16%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of June 30, 2020 (unaudited)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>121,472,152</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>170,206</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px; border-right: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>38,016,649</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>52,427</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(50,938</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>1,489</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">The accompanying notes are an integral part of the unaudited consolidated interim financial statements.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 5- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify; font-weight: bold;">CONSOLIDATED STATEMENTS OF CASH FLOWS</div>
      </div>
      <div style="text-align: justify; font-weight: bold;">
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands</div>
      <div><br>
      </div>
      <table id="zb80fd01eaead4106a4f1119e450966d6" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: middle;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: middle;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Six months ended</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: middle; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: middle; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;"> June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: middle; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;"> 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: middle;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top;" valign="bottom">
              <div><u>Cash flows from operating activities:</u></div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>Net loss</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(42,829</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(10,948</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div><u>Adjustments to reconcile net loss to net cash flows provided by operating activities:</u></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Depreciation and amortization</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>16,890</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>18,827</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Share based compensation expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>83,654</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>4,493</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Net loss (gain) from financing expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(1,357</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>824</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Revaluation of the warrant liability</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>272</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Accrued interest, net</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>332</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div><u>Change in operating assets and liabilities:</u></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Decrease in trade receivables</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>19,031</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>43,296</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Decrease (increase) in prepaid expenses and other current assets and long-term prepaid expenses</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(33,757</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>14,985</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Decrease in trade payable</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(31,025</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(35,535</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Increase in accrued expenses and other current liabilities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>5,284</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>14,333</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Increase in deferred taxes, net</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(917</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(1,456</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Change in operating lease Right of use assets</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>7,291</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>6,639</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -15.45pt; margin-left: 28.25pt;">Change in operating Lease liabilities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(8,557</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(7,948</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>Net cash provided by operating activities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>13,980</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>47,842</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div><u>Cash flows from investing activities</u></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="margin-left: 11.35pt;">Purchase of property and equipment, including capitalized platform costs</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(21,675</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(10,634</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="margin-left: 11.35pt;">Cash paid in connection with acquisitions</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(202</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="margin-left: 11.35pt;">Decrease (increase) in restricted deposits</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>2,536</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>(2</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="margin-left: 11.35pt;">Decrease in short-term deposits</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>24,964</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div>Net cash provided by (used in) investing activities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(19,139</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>14,126</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div><u>Cash flows from financing activities</u></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: 12.8pt;">Exercise of options and vested&#160; RSUs</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>4,919</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>677</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div style="text-indent: 12.8pt;">Issuance of share, net of offering costs</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>287,432</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: 12.8pt;">Issuance of warrant</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>53,883</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div>Net cash provided by financing activities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>346,234</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>677</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>Exchange differences on balances of cash, cash equivalents</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>1,357</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(824</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>Increase in cash, cash equivalents</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>342,432</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>61,821</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
              <div>Cash and cash equivalents - at the beginning of the period</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>242,811</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>86,920</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>Cash and cash equivalents - at end of the period</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>585,243</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div><font style="font-weight: bold;">$</font></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>148,741</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div><u>Supplemental information:</u></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div>Cash paid for income taxes</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>5,831</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>963</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>Non cash activities</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div>Purchase of property, plant and equipment</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>966</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div><font style="font-weight: bold;">3,030</font></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>Unpaid offering cost</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>2,950</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="font-weight: bold;">-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify;">The accompanying notes are an integral part of the unaudited consolidated interim financial statements.</div>
        <div style="text-align: justify;"> <br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 6- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify; font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
      </div>
      <div style="font-weight: bold;">
        <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-weight: bold;">NOTE 1:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">GENERAL</font></div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4ca4d99417cc4727a26fa06cb0a70dce" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 56.7pt;"><br>
            </td>
            <td style="width: 27.75pt; vertical-align: top; align: right;">a.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Taboola.com Ltd. was incorporated under the laws of the state of Israel and commenced its operations on September 3, 2006. Taboola has subsidiaries worldwide (together with its subsidiaries, collectively, the "Company" or &#8220;Taboola&#8221;).</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.05pt;">Taboola is a technology company that empowers advertisers to leverage its Artificial Intelligence, or AI, powered platform to reach targeted audiences with an effective, native ad-format across
        websites, devices and services such as mobile apps and games (collectively referred to as &#8220;digital properties&#8221;). Digital properties use Taboola&#8217;s recommendation platform to monetize their content, increase user engagement and build new audiences.</div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2123b4e252bb49b2b763b0094b259f16" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 56.7pt;"><br>
            </td>
            <td style="width: 27.75pt; vertical-align: top; align: right;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Merger Agreement</div>
            </td>
          </tr>

      </table>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">On January 25, 2021, the Company and Toronto Sub Ltd., a Cayman Islands exempted company and wholly owned subsidiary of&#160; Taboola (&#8220;Merger Sub&#8221;) entered into a merger agreement (&#8220;Merger
        Agreement&#8221;), with ION Acquisition Corp. 1 Ltd., a Cayman Islands exempted company (&#8220;ION&#8221;), which was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination
        with one or more businesses or entities. ION&#8217;s Class A ordinary shares, warrants, and units were previously listed on the NYSE under the symbols &#8216;&#8216;ION,&#8217;&#8217; &#8216;&#8216;ION.WS,&#8217;&#8217;and &#8216;&#8216;ION.U,&#8217;&#8217; respectively.</div>
      <div><br>
      </div>
      <div style="margin-left: 85.05pt;">Pursuant to the Merger Agreement, on June 29, 2021, Merger Sub merged with and into ION, with ION surviving the merger (the &#8220;Merger Transaction&#8221;).</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">Pursuant to the Merger Agreement, at the effective time of the Merger Transaction (the &#8220;Effective Time&#8221;), (a) each issued and outstanding unit of ION, consisting of one Class A ordinary share of
        ION, par value $0.0001 per share, of ION (&#8220;Class A Ordinary Shares&#8221;) and one-fifth of one warrant of ION entitling the holder to purchase one Class A Ordinary Share per warrant at a price of $11.50 per share (&#8220;ION Warrants&#8221;), was automatically
        separated and the holder thereof was deemed to hold one Class A Ordinary Share and one-fifth of one ION Warrant, (b) each Class A Ordinary Share outstanding immediately prior to the Effective Time was exchanged for one ordinary share no par value
        per share of Taboola (&#8220;Taboola Ordinary Shares&#8221;), (c) each Class B ordinary shares, par value $0.0001 per share, outstanding immediately prior to the Effective Time, was exchanged for one Taboola Ordinary Share and (d) each ION Warrant outstanding
        immediately prior to the Effective Time, including both the ION Warrants issued to public shareholders in ION&#8217;s initial public offering (the &#8220;Public Warrants&#8221;) and the ION warrants issued in a private placement to ION&#8217;s sponsors in ION&#8217;s initial
        public offering (the &#8220;Private Placement Warrants&#8221; or &#8220;Private Warrants&#8221;), was assumed by Taboola and become a warrant to purchase one Taboola Ordinary Share. Each step above took place after a preferred shares conversion and a Stock Split (as
        further described in c below).</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">After the Effective Time and once the Taboola Warrants become exercisable, Taboola may redeem the outstanding Taboola Warrants (except as described herein with respect to the Private Placement
        Warrants) in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days&#8217; prior written notice of redemption (the &#8220;30-day redemption period&#8221;); and if, and only if, the closing price of the Taboola Ordinary Shares equals or
        exceeds $18.00 per share, subject to certain adjustments, for any 20 trading days within a 30-trading day period ending three business days before the notice of redemption is sent to the warrant holders. Except as described below, the Private
        Placement Warrants have terms and provisions that are identical to those of the Public Warrants.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 7- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 1:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">GENERAL (Cont.)</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">After the Effective Time, the Private Placement Warrants (including the Taboola Ordinary Shares issuable upon exercise of such warrants) are not redeemable by Taboola so long as they are held by
        ION&#8217;s sponsors, members of ION&#8217;s sponsors or their permitted transferees. ION&#8217;s sponsors or their permitted transferees, have the option to exercise the Private Placement Warrants on a cashless basis.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">Concurrently with and following the execution of the Merger Agreement, Taboola and certain accredited investors (&#8220;PIPE Investors&#8221;) entered into a series of subscription agreements, which closed
        concurrently with the closing of the merger under the Merger Agreement, providing for the purchase by the PIPE Investors at the Effective Time of an aggregate of 13,500,000 Taboola Ordinary Shares at a price per share of $10.00 (assuming the Stock
        Split has been effected), for gross proceeds to Taboola of $135,000 (collectively, the &#8220;PIPE&#8221;). The closing of the PIPE was conditioned upon the consummation of the Merger Transaction.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">Concurrently with and following the execution of the Merger Agreement, Taboola and certain accredited investors (the &#8220;Secondary Investors&#8221;) entered into share purchase agreements pursuant to
        which the Secondary Investors purchased 15,120,000 Taboola Ordinary Shares from certain shareholders of Taboola, at a price per share of $10.00 (assuming the Stock Split had been affected), for gross proceeds of $151,200.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">On June 29, 2021, following the Merger Transaction and other transactions contemplated by the Merger Agreement, ION became a direct, wholly owned subsidiary of Taboola. As a result, Taboola's
        shares and warrants became listed on The Nasdaq Global Market under the symbols &#8220;TBLA&#8221; and &#8220;TBLAW&#8221;, respectively</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 0.45pt; margin-left: 85.05pt;">The ION Business Combination was accounted for as a recapitalization, with no goodwill or other intangible assets recorded, in accordance with GAAP. It has been determined
        that Taboola was the accounting acquirer based on evaluation of the following facts and circumstances:</div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2751a354c96c4883b3478bf60263af0a" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 117pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Taboola&#8217;s existing shareholders will have the greatest voting interest in the combined entity.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8e13b5adc01a45d5993c425850cca842" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 117pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Taboola&#8217;s directors will represent the majority of the board of directors of the combined company following the consummation of the Business Combination.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z565f526249b44391a3b630c89849a88f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 117pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Taboola&#8217;s senior management will be the senior management of the combined company following the consummation of the Business Combination.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc2222448ceb548ae87f5013ba2738ee0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 117pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>Taboola is the larger entity based on historical operating activity and has the larger employee base.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfaed0da8554340fa800c65232c00ef1e" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 117pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>The Subscription Agreements related to the PIPE, which were executed concurrently with and following the Merger Agreement, resulted in the issuance of Taboola Ordinary Shares, leading to an increase in share premium.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">The total ION cash amount and the PIPE consideration, net of transaction costs, were allocated to the equity and Warrants liability of the Company as of the Merger Transaction date in amounts of
        $284,482 and $53,883, respectively. The transaction costs related to the Warrant&#8217;s liability in the amount of $4,183 were recognized as general and administrative expenses in the Company's statement of income (loss) for the six months ended June
        30, 2021.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 8- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 1:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">GENERAL (Cont.)</font></div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z12987d57742a41c3b3648fab52513348" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 56.7pt;"><br>
            </td>
            <td style="width: 27.75pt; vertical-align: top; align: right; font-weight: bold;">c.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>On June 29, 2021, the Company&#8217;s board of directors and the stockholders, approved a 2.700701493 for 1 stock split, pursuant to which all Convertible Preferred Shares, Restricted Shares, Restricted Share Unit, options t Ordinary Shares,
                exercise price and net loss per share amounts were adjusted retroactively for all periods presented in these consolidated financial statements as if the stock split had been in effect as of the date of these consolidated financial
                statements.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify;"><font style="font-weight: bold;">NOTE 2:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">SIGNIFICANT ACCOUNTING POLICIES</font></div>
      <div><br>
      </div>
      <div>
        <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The accompanying unaudited consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America
          (&#8220;GAAP&#8221;), and applicable rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;) regarding interim financial reporting and include the accounts of Taboola.com Ltd. and its wholly owned subsidiaries. All intercompany balances and
          transactions have been eliminated in consolidation.</div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The consolidated balance sheet as of December 31, 2020, was derived from the audited consolidated financial statements as of that date, but does not include all of the disclosures,
          including certain notes required by GAAP on an annual reporting basis. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules
          and regulations.</div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">Therefore, these unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for
          the year ended December 31, 2020, included in the Company&#8217;s final prospectus dated September 2, 2021 relating to its Registration Statement on Form F-1 as filed with the SEC.</div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">In management&#8217;s opinion, the unaudited consolidated interim financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all
          adjustments, which include only normal recurring adjustments necessary for the fair presentation of the Company&#8217;s financial position as of June 30, 2021 and the Company&#8217;s unaudited interim consolidated statement of income (loss) and convertible
          preferred shares and shareholders&#8217; equity for the three and six months ended June 30, 2021 and 2020, and cash flows for the six months ended June 30, 2021 and 2020. The results for the three and six months ended June 30, 2021, are not necessarily
          indicative of the results to be expected for the full year ending December 31, 2021, or any other future interim or annual period.</div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify; text-indent: 28.35pt; margin-left: 56.7pt; font-style: italic; font-weight: bold;">Use of Estimates</div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
          liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods and accompanying notes. Significant items subject
          to such estimates and assumptions include, those related to accounts receivable and allowance for credit losses, acquired intangible assets and goodwill, the useful life of intangible assets, capitalized software and property and equipment, the
          incremental borrowing rate for operating leases, share-based compensation including the determination of the fair value of the Company&#8217;s share-based awards, and the valuation of deferred tax assets and uncertain tax positions.</div>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 9- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 2:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">SIGNIFICANT ACCOUNTING POLICIES (Cont.)</font></div>
      <div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including
          assumptions as to future events. Actual results could differ from those estimates.</div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">In March 2020, the World Health Organization (&#8221;WHO&#8221;) declared the novel coronavirus COVID-19 ("COVID-19") a global pandemic. The pandemic adversely affected workforces, economies, and
          financial markets globally in 2020 and the first half of 2021 and, until contained, is still expected to disrupt general business operations. The COVID-19 pandemic and the measures taken by many governments around the world in response could in
          the future meaningfully impact our business, results of operations and financial condition. The Company is currently unable to predict the duration of that impact but continues to monitor its accounting estimates of the carrying value of certain
          assets and liabilities relating to its leases and will continue to do so as additional information is obtained or new events occur. Actual results could differ from our estimates and judgments, and any such differences may be material to our
          financial statements.</div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify; text-indent: 28.35pt; margin-left: 56.7pt; font-style: italic; font-weight: bold;">Significant Accounting Policies</div>
        <div><br>
        </div>
      </div>
      <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The Company&#8217;s significant accounting policies are discussed in Note 2, <font style="font-style: italic;">Summary of Significant Accounting Policies,</font> in the Company&#8217;s final
        prospectus dated September 2, 2021 relating to its Registration Statement on Form F-1 as filed with the SEC. There have been no significant changes to these policies during the six months ended June 30, 2021, except as noted below.</div>
      <div><br>
      </div>
      <div style="text-indent: 28.35pt; margin-left: 56.7pt; font-style: italic; font-weight: bold;">Warrants Liability</div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The Company evaluated the Public Warrants and Private Placement Warrants (collectively, &#8216;&#8216;Warrants&#8217;&#8217;, which are discussed in Note 1b, and Note 2) in accordance with ASC 815-40,
        &#8216;&#8216;Derivatives and Hedging &#8212; Contracts in Entity&#8217;s Own Equity&#8217;&#8217;, and concluded that a provision in the Warrant Agreement related to certain tender or exchange offers, as well as provisions that provided for potential changes to the settlement
        amounts dependent upon the characteristics of the holder of the warrant, preclude the Warrants from being accounted for as components of equity.</div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">As the Warrants meet the definition of a derivative as contemplated in ASC 815 and are not eligible for an exception from derivative accounting, the Warrants are recorded as derivative
        liabilities on the Balance Sheet and measured at fair value at inception (on June 29, 2021, the date of the Business Combination) and at each reporting date in accordance with ASC 820, &#8216;&#8216;Fair Value Measurement&#8217;&#8217;, with changes in fair value
        recognized in the Statement of Operations in the period of change.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 10- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify;">
          <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
          <div><br>
          </div>
          <div>
            <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
          </div>
          <div style="text-align: left; font-weight: bold;">
            <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
          <div><br>
          </div>
          <font style="font-weight: bold;">NOTE 2:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">SIGNIFICANT ACCOUNTING POLICIES (Cont.)</font></div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 85.05pt; font-style: italic; font-weight: bold;">Accounting for share-based compensation</div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The fair value of each option award is estimated on the grant date using the Black-Scholes option pricing model.<font style="font-weight: bold; font-style: italic;">&#160;</font>The fair value
        of each option award is estimated using the following assumptions:</div>
      <div><br>
      </div>
      <table id="z7957bd631dea4b3c87c5a2b9de8ead55" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Six months ended June 30,</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> 2021</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Volatility</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>51.0% - 54.7</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>50.0% - 53.82</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 76%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Risk-free interest rate</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>0.51% - 1.27</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>0.38% - 0.52</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Dividend yield</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>0</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>0</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 76%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Expected term (in years)</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>5 &#8211; 6.85</div>
            </td>
            <td colspan="1" rowspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>6.25</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="text-align: justify; margin-left: 85.05pt; font-style: italic; font-weight: bold;">Business combinations</div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 85.5pt; text-align: justify;">The Company accounts for business combinations using the acquisition method of accounting. The Company determines the recognition of intangible assets based on the following criteria: (i)
        the intangible asset arises from contractual or other rights; or (ii) the intangible asset is separable or divisible from the acquired entity and capable of being sold, transferred, licensed, returned or exchanged. The Company allocates the
        purchase price of business combinations to the tangible assets, liabilities and intangible assets acquired, based on their estimated fair values. The excess purchase price over those fair values is recorded as goodwill. During the measurement
        period, which may be up to one year from the acquisition date, the Company may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the
        conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company&#8217;s consolidated statement of operations. The
        process of estimating the fair values requires significant estimates, especially with respect to intangible assets. Critical estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from customer
        contracts, merchant/network affiliate relationship, publisher relationship, technologies, tradenames and discount rates. The Company estimates fair value based upon assumptions that are believed to be reasonable, but which are inherently uncertain
        and unpredictable and, as a result, actual results may differ from estimates.</div>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify; text-indent: 28.35pt; margin-left: 56.7pt; font-style: italic; font-weight: bold;">Recently Issued Accounting Pronouncements</div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify; margin-left: 85.05pt;">In December 2019, the FASB issued ASU No. 2019-12, <font style="font-style: italic;">Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,</font> which simplifies the
          accounting for income taxes by removing a variety of exceptions within the framework of ASC 740. These exceptions include the exception to the incremental approach for intra-period tax allocation in the event of a loss from continuing operations
          and income or a gain from other items (such as other comprehensive income), and the exception to using general methodology for the interim period tax accounting for year-to-date losses that exceed anticipated losses. The guidance will be
          effective for the Company beginning January 1, 2022, and interim periods in fiscal years beginning January 1, 2023. Early adoption is permitted. The Company is currently evaluating the effect that ASU 2019-12 will have on its consolidated
          financial statements and related disclosures.</div>
      </div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 11- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify;">
          <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
          <div><br>
          </div>
          <div>
            <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
          </div>
          <div style="text-align: left; font-weight: bold;">
            <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
          <div><br>
          </div>
          <font style="font-weight: bold;">NOTE 2:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">SIGNIFICANT ACCOUNTING POLICIES (Cont.)</font></div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify; margin-left: 85.05pt;">In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 &#8220;Debt&#8212;Debt with Conversion and Other Options&#8221; and ASC subtopic 815-40 &#8220;Hedging&#8212;Contracts in Entity&#8217;s Own Equity&#8221;. The standard
          reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not
          clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which
          the premiums are recorded as paid-in capital.</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 85.05pt;">Among other potential impacts, ASU 2020-06 will reduce reported interest expense, and thereby decrease reported net loss, and result in a reclassification of certain conversion feature balance
          sheet amounts from stockholder&#8217;s equity to liabilities as it relates to the Company&#8217;s 2025 Notes. Additionally, ASU 2020-06 requires the application of the if-converted method to calculate the impact of convertible instruments on earnings per
          share. The amendments in this update are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years, and can be adopted on either a fully retrospective or modified retrospective basis. The
          Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements and will adopt on January 1, 2022.</div>
        <div><br>
        </div>
      </div>
      <div style="font-weight: bold;">NOTE 3:-&#160;&#160;&#160;&#160;&#160; CASH AND CASH EQUIVALENTS</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 56.7pt;">The following table presents for each reported period, the breakdown of cash and cash equivalents:</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <table id="z192c31b069fb404398fbb6e774029879" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">December 31,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> 2021</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Audited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; background-color: #CCEEFF;" valign="bottom">
              <div>Cash</div>
            </td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>286,914</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>115,693</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%;" valign="bottom">
              <div>Money market funds</div>
            </td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>268,004</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>10</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>Time deposits</div>
            </td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>30,325</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>127,108</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div style="margin-left: 1.1pt;">Total Cash and cash equivalents</div>
            </td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>585,243</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="text-align: right; vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>242,811</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 12- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 4:-</font>&#160; &#160; &#160; <font style="font-weight: bold;">FAIR VALUE MEASUREMENTS</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 56.7pt;">The Company evaluates assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level to classify them for each reporting period. There have been
        no transfers between fair value measurements levels during the six months ended June 30, 2021.</div>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify; margin-left: 56.7pt;">The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation
          techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value:</div>
      </div>
      <div>
        <div><br>
        </div>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z46869509389f4161b2a301beee7250c2" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 74.7pt; vertical-align: middle;">&#160;</td>
            <td style="width: 12.66%; vertical-align: top;">
              <div>&#160;Level 1:</div>
            </td>
            <td style="vertical-align: top;">
              <div>Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.</div>
            </td>
          </tr>

      </table>
      <div>
        <div><br>
        </div>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z29108372ba9b413eb98e6b8d63256f89" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 74.7pt; vertical-align: middle;">&#160;</td>
            <td style="width: 12.66%; vertical-align: top;">
              <div>Level 2:</div>
            </td>
            <td style="vertical-align: top;">
              <div>Observable inputs that reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for
                the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.</div>
            </td>
          </tr>

      </table>
      <div>
        <div style="text-indent: 54pt;"> <br>
        </div>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z67304d10f5194f57bc96e79e14a8513d" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 74.7pt; vertical-align: middle;">&#160;</td>
            <td style="width: 12.66%; vertical-align: top;">
              <div style="text-align: justify;">Level 3:</div>
            </td>
            <td style="vertical-align: top;">
              <div>Unobservable inputs reflecting the Company&#8217;s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably
                available. <br>
              </div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 56.7pt;">The following table sets forth the Company&#8217;s assets and liabilities that were measured at fair value as of June 30, 2021, by level within the fair value hierarchy (in thousands):</div>
      <div><br>
      </div>
      <table id="z66f79696f88e40258afb26471a7edd5c" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="14" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> June 30, 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="14" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Fair value measurements using input type</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="14" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
              <div style="font-weight: bold;">Description:</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Level 1</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Level 2</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Level 3</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom;" valign="bottom">
              <div>Assets:</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Money market funds</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>268,004</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>268,004</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Liabilities:</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Warrant Liability &#8211; Public Warrants</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>16,068</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>16,068</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Warrant Liability &#8211; Private Placement Warrants</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>-</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>38,087</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>38,087</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="text-align: justify; text-indent: 0pt; margin-left: 56.7pt;">The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the balance sheet. The warrant liabilities are
        measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the consolidated statement of operations.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 13- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 4:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">FAIR VALUE MEASUREMENTS (Cont.)</font></div>
      <div><br>
      </div>
      <div style="margin-left: 58.5pt; font-style: italic; font-weight: bold;">Initial Measurement</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 58.5pt;">The Company established the initial fair value for the Warrants as of June 29, 2021, the date of the Company&#8217;s Merger Transaction, using a quoted price for the Public Warrants and a Black-Scholes
        simulation model for the Private Placement Warrants. The Private Warrants were classified as Level 3 at the initial measurement date due to the use of unobservable inputs.</div>
      <div><br>
      </div>
      <div style="margin-left: 58.5pt;">The key inputs into the Black-Scholes model for the Private Placement Warrants were as follows at initial measurement:</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <table id="z23ba539be2f943fea117fd41a7d71a36" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; width: 55%;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> June 29, 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">
                <div style="font-weight: bold; text-indent: 2pt;">June 30, 2021</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px; width: 55%;" valign="bottom">
              <div style="font-weight: bold;"><u>Input</u></div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">(Initial Measurement)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1.05%;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom"> <br>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 55%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Risk-free interest rate</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>0.73% - 0.89</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>0.72% - 0.87</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 55%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Expected term (years)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;" valign="bottom">
              <div>4.26 - 5.00</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;" valign="bottom">
              <div>4.26 - 5.00</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 55%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Expected volatility</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>65.3% - 65.7</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>65.3% - 65.8</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>%</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 55%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Exercise price</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;" valign="bottom">
              <div>11.50</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%;" valign="bottom">
              <div>11.50</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 55%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Underlying Stock Price</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>10.54</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 20%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>10.35</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="margin-left: 63pt;">The Company&#8217;s use of a Black-Scholes model required the use of subjective assumptions:</div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z36e787a8a4654e1fa5ed10a48732c2c1" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 63pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>The risk-free interest rate assumption was interpolated based on constant maturity U.S. Treasury rates over a term commensurate with the expected term of the warrants.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zad1907f92df543d1a67bbeef70704324" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 63pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>The expected term was determined based on the expected date of the initial Business Combination, as the Warrants expire on the date that is 5 years from the completion of the initial Business Combination and for certain Private Warrants
                5 years from the date of the initial public offering effective date.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zce75b8ec2244461783ff10c980ccdcf3" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 63pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; align: right;">&#8226;</td>
            <td style="width: auto; vertical-align: top;">
              <div>The expected volatility assumption was based on the implied volatility from a set of comparable publicly- traded warrants as determined based on size and proximity.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="margin-left: 63pt; font-style: italic; font-weight: bold;">Subsequent Measurement</div>
      <div><br>
      </div>
      <div style="margin-left: 63pt;">The following table presents the changes in the fair value of warrants liability (unaudited):</div>
      <div><br>
      </div>
      <table id="zc148aca6a2274e3797747d1beb045107" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Private</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Public</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Total</div>
            </td>
            <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">
              <div style="font-weight: bold;"><u>Input</u></div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Warrants</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Warrants</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Warrants</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 64%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Initial measurement on June 29, 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>39,143</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>14,740</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>53,883</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 64%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Change in fair value</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(1,056</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>1,328</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>272</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 64%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Fair value as of June 30, 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>38,087</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>16,068</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>54,155</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 14- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div>
        <div style="font-weight: bold;">
          <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
          <div><br>
          </div>
          <div>
            <div style="text-align: justify; font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
          </div>
          <div style="font-weight: bold;">
            <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
          <div><br>
          </div>
          NOTE 5:-&#160;&#160;&#160;&#160;&#160; SHAREHOLDERS' EQUITY</div>
      </div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfadb7d64fee0492b975697f6cb9ab1ff" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 58.5pt;"><br>
              </td>
              <td style="width: 25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">a.</td>
              <td style="width: auto; vertical-align: top;">
                <div>Composition of share capital of the Company:</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
      </div>
      <table id="z1f4fde2f4b2b4b069c7904cb5c6ac23d" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> June 30, 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">December 31, 2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Audited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Authorized</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; text-indent: 2pt;">O<font style="font-weight: bold;">utstanding</font></div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Authorized</div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div>
                <div style="text-align: center; text-indent: 2pt;">O<font style="font-weight: bold;">utstanding</font></div>
              </div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="14" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Number of shares</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="margin-left: 1.1pt;">Ordinary shares (no par value)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>700,000,000</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>211,198,259</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>176,535,661</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>41,357,049</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zea2c3d163dc341d69d52acd6196041fa" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 58.5pt;"><br>
            </td>
            <td style="width: 25pt; vertical-align: top; font-family: 'Times New Roman',Times,serif;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>Share option plan:</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>
        <div style="text-align: justify; margin-left: 85.5pt;">During the years 2007, 2016, 2017, 2020 the Company adopted several share incentive plans (together the &#8220;Company's legacy share incentive plan&#8221; or &#8220;Legacy Plans&#8221;). In June 2021 the Company
          retired the Legacy Plans and adopted the 2021 Share Incentive Plan (the &#8220;2021 Share Incentive Plan&#8221; or &#8220;2021 Plan&#8221;, and together with the Legacy Plans, the &#8220;Plans&#8221;).</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 85.5pt;">In addition, during June 2021, the Company adopted the Employee Stock Purchase Plan (the &#8220;ESPP&#8221;).</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 85.5pt;">The Company adopted the Plans and the ESPP to provide incentives to employees, directors, consultants and/or contractors.</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 85.5pt;">Under each of the Plans, the Company's employees, directors, consultants and/or contractors may be granted any equity-related award, including option to acquire the Company ordinary shares;
          restricted shares; and restricted share units (&#8220;RSU&#8221;).</div>
        <div><br>
        </div>
        <div style="text-align: justify; margin-left: 85.5pt;">The options generally vest over 4 years and expire 10 years after the date of grant. Most of the RSUs granted are subject to a two-tiered vesting arrangement, including a time-based vesting
          component which is generally over 4 years, and an additional vesting condition of a Merger/Sale or IPO being consummated within 5 years of the grant. Any equity grant that is forfeited or canceled before expiration becomes available for future
          grants under the Plans.</div>
      </div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 15- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div>
        <div style="font-weight: bold;">
          <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
          <div><br>
          </div>
          <div>
            <div style="text-align: justify; font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
          </div>
          <div style="font-weight: bold;">
            <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
          <div><br>
          </div>
          NOTE 5:-&#160;&#160;&#160;&#160;&#160; SHAREHOLDERS' EQUITY (Cont.)</div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">As of June 30, 2021, the maximum number of Taboola ordinary shares available for issuance under the 2021 Share Incentive Plan is equal to the sum of (i) 31,932,902 shares, (ii) any shares subject
        to awards under the Legacy Plans which have expired, or were cancelled, terminated, forfeited or settled in cash in lieu of issuance of shares or became unexercisable without having been exercised, and (iii) an annual increase on the first day of
        each year beginning in 2022 and on January 1st of each calendar year thereafter during the term of the 2021 Plan, equal to the lesser of (A) 5% of the outstanding shares on the last day of the immediately preceding calendar year and (B) such amount
        as determined by Taboola&#8217;s board of directors if so determined prior to January 1 of a calendar year.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.5pt;">The following is a summary of share option activity and related information for the periods from January 1, 2021, through June 30, 2021: (including employees, directors, officers and consultants
        of the Company)</div>
      <div><br>
      </div>
      <table id="zfc25efc788884fb78d9407781ad4895b" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="10" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Options Outstanding</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Outstanding Share Options</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Weighted-Average Exercise Price</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Weighted Average Remaining Contractual Life (Years)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold;">Aggregate</div>
              <div style="text-align: center; font-weight: bold;">Intrinsic</div>
              <div style="text-align: center; font-weight: bold;">Value</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -12pt; margin-left: 12pt;">Balance as of December 31, 2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>46,064,449</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>1.54</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>5.62</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>247,117</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%;" valign="bottom">
              <div style="margin-left: 1.1pt;">Granted</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>9,784,918</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>6.96</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="margin-left: 1.1pt;">Exercised</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(3,485,212</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>1.03</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>32,379</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="margin-left: 1.1pt;">Forfeited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(656,436</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
              <div>2.68</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -12pt; margin-left: 12pt;">Balance as of June 30, 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>51,707,719</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>2.57</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>6.09</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>402,430</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -12pt; margin-left: 12pt;">Exercisable as of June 30, 2021 (unaudited)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>33,527,602</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
              <div>1.49</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
              <div>4.36</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
              <div>297,118</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="text-align: justify; margin-left: 85.05pt;">The aggregate intrinsic value in the table above represents the total intrinsic value that would have been received by the option holders had all option holders exercised their options on the
        last date of the period.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 0.45pt; margin-left: 85.05pt;">The weighted-average grant date fair value of options granted during the six and three months ended June 30, 2021, was $9.39 and $8.77, respectively. <br>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 0.45pt; margin-left: 85.05pt;">As of June 30, 2021, unrecognized share-based compensation cost related to unvested share options and RSUs was $127,402, which is expected to be recognized over a
        weighted-average period of 4.75 years.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 16- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div>
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 5:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">SHAREHOLDERS' EQUITY (Cont.)</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.05pt;">The following is a summary of the RSU activity and related information for the from January 1, 2021 through June 30, 2021: (including employees of the Company)</div>
      <div><br>
      </div>
      <table id="z6f4811eed09f438ca536dbd9c1aea2af" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px; width: 70%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Outstanding</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Restricted</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Shares Unit</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Weighted-Average</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Grant Date Fair<br>
                Value Per Share</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 70%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of December 31, 2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>12,755,167</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>5.64</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 70%;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Granted</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%;" valign="bottom">
              <div>6,884,175</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%;" valign="bottom">
              <div>9.41</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 70%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Vested</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; background-color: rgb(204, 238, 255);" valign="bottom">
              <div>(912,330</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 70%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Forfeited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>(176,183</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
              <div>)</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; padding-bottom: 2px;" valign="bottom">
              <div>6.20</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 70%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -8.5pt; margin-left: 11.35pt;">Balance as of June 30, 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
              <div>18,550,829</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 12%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" valign="bottom">
              <div>7.39</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="text-align: justify; margin-left: 85.05pt;">The restricted share units were subject to multiple vesting conditions, such as time-based vesting and additional vesting condition whereby any of the RSUs shall not lapse, and no RSUs shall
        become vested prior and subject to the consummation of a Merger/Sale or an IPO (as defined in the respective incentive plan), which was satisfied upon Taboola becoming a publicly-traded company on the Nasdaq Global Market.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 85.05pt;">The total equity-based compensation expense related to all of the Company's equity-based awards recognized for the six and three months ended June 30, 2021, was comprised as follows:</div>
      <div><br>
      </div>
      <table id="zbb95d33ffee14ace97170494ab8d7113" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Three months ended</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Six months ended</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="14" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Cost of revenues</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>455</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>111</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>580</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>252</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Research and development</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>8,947</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>1,037</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>12,385</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>2,051</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Sales and marketing</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>35,040</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>919</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>36,171</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>1,897</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">General and administrative</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>34,081</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>156</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>34,518</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>293</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Total share-based compensation expense</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>78,523</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>2,223</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>83,654</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>4,493</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div><font style="font-weight: bold;">NOTE 6:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">INCOME TAXES:</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 58.5pt;">The Company&#8217;s effective tax rate is highly dependent upon the geographic distribution of its worldwide earnings or losses and tax regulations. The Company&#8217;s effective tax rates were (31%) and
        (502%) for the six months ended June 30, 2021, and 2020, respectively. The difference between the Company&#8217;s effective tax rate and the 23% statutory rate in Israel for the six months ended June 30, 2021, resulted primarily from tax profitable
        jurisdictions, mainly the US, and due to non-tax-deductible expenses primarily the non-deductible portion of share-based payments. In the six months ended June 30, 2020, the effective tax rate was mainly effected by the BEAT regime in the U.S.</div>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 17- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 7:-</font>&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">COMMITMENTS AND CONTINGENCIES</font></div>
      <div><br>
      </div>
      <div style="text-indent: 28.35pt; margin-left: 28.35pt; font-style: italic; font-weight: bold;">Commercial Commitments</div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">In the ordinary course of the business, the Company enters into agreements with certain digital properties, under which, in some cases it agrees to pay them a guaranteed amount, generally
        per thousand pageviews on a monthly basis. These agreements could cause a gross loss on digital property accounts in which the guarantee is higher than the actual revenue generated. These contracts generally range in duration from 2 to 5 years,
        though some can be shorter or longer.</div>
      <div><br>
      </div>
      <div style="text-indent: 28.35pt; margin-left: 28.35pt; font-style: italic; font-weight: bold;">Non-cancelable Purchase Obligations</div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties to purchase primarily software and IT related-based services. As of June
        30, 2021, the Company had outstanding non-cancelable purchase obligations in the amount of $5,990.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: -28.35pt; margin-left: 85.05pt; font-style: italic; font-weight: bold;">Legal Proceedings</div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3ddbd142e7764a3ca2e2c640d4963a06" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 56.7pt;"><br>
            </td>
            <td style="width: 27.75pt; vertical-align: top; align: right;">a.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>In October 2019, one of the Company's digital properties (the "Digital Property") filed a claim against the Company in the Paris Commercial Court for approximately $706 (the "Claim"). According to the Claim, the Company allegedly has
                failed to pay certain minimum guarantee payments for the years 2016 to 2019. It is the Company's position that there are no merits to the Claim because the Digital Property did not act in accordance with the agreement and a counterclaim in
                the amount of $1,970 was filed by the Company for a refund of certain compensation that was paid. A virtual trial took place on February 24, 2021, and the Paris Commercial Court dismissed Digital property claims and ordered them to pay an
                amount of approximate $12 thousand in costs to Taboola. On June 1, 2021, the Digital Property filed an appeal against the decision of the Paris Commercial Court, and their appellate briefs in early September. Taboola will have to file its
                response to these claims by January 31, 2022.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6cc0ec04e10b4f87867529bb34845b1f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 56.7pt;"><br>
            </td>
            <td style="width: 27.75pt; vertical-align: top; align: right;">b.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>In April 2021, the Company became aware that the Antitrust Division of the U.S. Department of Justice is conducting a criminal investigation of hiring activities in the Company&#8217;s industry, including the Company. The Company is
                cooperating with the Antitrust Division.&#160; While there can be no assurances as to the ultimate outcome, the Company does not believe that its conduct violated applicable law.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z46ade7b47ab84d3eb45e16f3dcda79ae" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 56.7pt;"><br>
            </td>
            <td style="width: 27.75pt; vertical-align: top; align: right;">c.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes, or claims. The Company investigates these claims as they arise and record a provision, as necessary. Provisions
                are reviewed and adjusted to reflect the impact of negotiations, estimated settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. Although claims are inherently unpredictable,
                the Company is currently not aware of any matters that, it believes would individually or taken together, have a material adverse effect on its business, financial position, results of operations, or cash flows.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 18- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div>
        <div style="font-weight: bold;">
          <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
          <div><br>
          </div>
          <div>
            <div style="text-align: justify; font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
          </div>
          <div style="font-weight: bold;">
            <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
          <div><br>
          </div>
          NOTE 8:-&#160;&#160;&#160;&#160;&#160; SEGMENT INFORMATION</div>
      </div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">The following table represents total revenue by geographic area based on the advertisers&#8217; billing address:</div>
      <div><br>
      </div>
      <table id="z61b6e7dfa3fb48e496ade3ea77b43bc0" style="width: 92%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" align="right" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Three months ended</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="6" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Six months ended</div>
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">June 30,</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;"> 2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2021</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">2020</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="14" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
              <div style="text-align: center; font-weight: bold; text-indent: 2pt;">Unaudited</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Israel</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>50,510</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>50,324</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>85,047</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>83,807</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">United Kingdom</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>17,221</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>11,284</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>32,737</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>21,143</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">United States</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>121,163</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>109,580</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>244,470</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>249,289</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Germany</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>34,706</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>21,957</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>68,375</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
              <div>46,036</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">France</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>15,344</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>9,118</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>31,348</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>18,491</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Rest of the World</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>90,128</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>65,405</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>170,045</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
              <div>128,248</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;" valign="bottom">
              <div style="text-indent: -11.35pt; margin-left: 11.35pt;">Total</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>329,072</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>267,668</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>632,022</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
              <div>$</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
              <div>547,014</div>
            </td>
            <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div><font style="font-weight: bold;">NOTE 9:-&#160;&#160; &#160;NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO ORDINARY SHAREHOLDERS</font></div>
      <div><br>
      </div>
      <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">The following table sets forth the computation of basic and diluted net income (loss) per share attributable to ordinary shareholders for the periods presented:</div>
      <div><br>
      </div>
      <div>
        <table id="zfdf627db4f734969b9d4a6059d34595a" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 92%;" align="right" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: bottom; padding-bottom: 2px; width: 52%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">Three months ended</div>
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">Six months ended</div>
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; padding-bottom: 2px; width: 52%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; padding-bottom: 2px; width: 52%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="14" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-indent: 2pt;">Unaudited</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Basic net profit (loss) per share</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;"><u>Numerator</u>:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Net income (loss)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(61,416</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">12,905</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(42,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(10,948</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; padding-bottom: 2px;" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Less: Undistributed earnings allocated to participating securities</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(6,029</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(5,646</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(11,944</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(11,228</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Net income (loss) attributable to ordinary shares &#8211; basic</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(67,445</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">7,259</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(54,773</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(22,176</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;"><u>Denominator</u>:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, basic</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">48,518,124</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">37,895,239</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">46,351,830</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">41,217,908</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Net income (loss) per share attributable to ordinary shareholders, basic</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(1.39</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">0.19</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(1.18</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0); background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(0.54</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Diluted net profit (loss) per share</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%;" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;"><u>Numerator</u>:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Net income (loss) attributable to ordinary shares &#8211; diluted</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(67,445</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">7,259</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(54,773</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(22,176</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;"><u>Denominator</u>:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, basic</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">48,518,124</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">37,895,239</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">46,351,830</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">41,217,908</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Weighted average effect of dilutive securities&#8212;effect of stock-based awards</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">-</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">22,201,371</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">-</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">-</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Weighted-average shares used in computing net income (loss) per share attributable to ordinary shareholders, diluted</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">48,518,124</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">60,096,610</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">46,351,830</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">41,217,908</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; padding-bottom: 4px;" valign="bottom">
                <div style="text-indent: -11.35pt; margin-left: 11.35pt; font-family: 'Times New Roman', Times, serif;">Net income (loss) per share attributable to ordinary shareholders, diluted</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(1.39</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">0.12</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(1.18</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">(0.54</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
                <div style="font-family: 'Times New Roman', Times, serif;">)</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="clear: both;"><br>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 19- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 10:-</font>&#160;&#160;&#160; <font style="font-weight: bold;">SUBSEQUENT EVENTS</font></div>
      <div><br>
      </div>
      <div>
        <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">On July 22, 2021, the Company entered into a definitive purchase agreement (the "Purchase Agreement") to acquire Shop Holding Corporation (&#8220;Connexity&#8221;) (&#8220;Connexity Acquisition&#8221;) , an
          independent e-Commerce media platform in the open web, serving over 1,600 direct merchants, and 6,000 publishers, from Shop Management, LLC (&#8220;Seller&#8221;) for approximately $800,000, subject to customary purchase price adjustments for working
          capital, the payment of existing Connexity debt, expenses and the other terms and conditions such as certain holdback and retention plans and other indebtedness described in the Purchase Agreement.</div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">On September 1, 2021, the Company consummated the Connexity Acquisition and as a result Taboola (i) issued to the Seller 17,328,049 ordinary shares of Taboola, and (ii) paid to Seller
          approximately $476,445 in cash.&#160; An additional 3,681,030 ordinary shares of Taboola were held back by Taboola pursuant to certain holdback arrangements entered into with current employees of Connexity, and are to be delivered to such employees in
          installments over three years following the closing of the Connexity Acquisition, subject to continued employment by such persons with Taboola. Separately, it is expected that certain employees of Connexity will be granted incentive equity awards
          following the closing of the Connexity Acquisition that will settle in ordinary shares of Taboola with a value of approximately $40,000 and will vest based on continued employment by such persons with Taboola. The purchase price is inclusive of
          amounts used to repay approximately $68,000 of existing estimated indebtedness of Connexity.&#160; In addition, $10,000 was deposited into an escrow account at closing for purposes of satisfying post-closing purchase price adjustments.</div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">At the closing, Taboola entered into a registration rights agreement under which the Seller is entitled, in certain circumstances, to cause Taboola to register its ordinary shares for
          resale under the Securities Act of 1933, as amended.</div>
      </div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="text-align: justify; margin-left: 56.7pt;">The Connexity Acquisition was accounted for by the purchase method of accounting, and, accordingly, the purchase price has been allocated according to the fair value of the assets acquired and
        liabilities assumed.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-left: 56.7pt;">Due to the expected net book value of assets acquired to be immaterial relatively to the total consideration, the Company expects that the substantial majority of the purchase price will be
        allocated to goodwill and intangible assets.</div>
      <div>
        <div><br>
        </div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 20- </font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify;">
        <div style="text-align: right; font-weight: bold;">TABOOLA.COM LTD.</div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>
        </div>
        <div style="text-align: left; font-weight: bold;">
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade">U.S. dollars in thousands, except share and per share data</div>
        <div><br>
        </div>
        <font style="font-weight: bold;">NOTE 10:-</font>&#160;&#160;&#160; <font style="font-weight: bold;">SUBSEQUENT EVENTS (Cont.)</font></div>
      <div>
        <div><br>
        </div>
      </div>
      <div>
        <div style="text-align: justify; margin-left: 58.5pt;">
          <div style="text-align: left; color: #000000;">A preliminary indication of the fair value of the identifiable assets acquired is approximately $182,140 for the Merchant/Network Affiliate Relationships, Publishers Relationships, Trademark and the
            Technology. The estimated useful life is 3-5 years. Upon the completion of the Purchase Price Allocation study, different or additional intangible assets may be identified, and the fair value and the useful life may be substantially different
            from the preliminary indication.</div>
        </div>
      </div>
      <div style="clear: both;">
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">Concurrently with the closing of the Connexity Acquisition, on September 1, 2021, Taboola entered into a $300,000 senior secured term loan credit agreement (the &#8220;Credit Agreement&#8221;),
          among Taboola, a wholly-owned Taboola subsidiary, as borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.&#160; The Credit Agreement provides for borrowings in an aggregate principal amount of up to $300,000 (the
          &#8220;Facility&#8221;). The proceeds of the Facility, which was fully drawn at closing, were used by Taboola to finance, in part, the Connexity Acquisition.</div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">Borrowings under the Facility are subject to customary conditions to borrowing and will bear interest at a variable annual rate based on LIBOR or Base Rate plus a fixed margin. The
          Facility will mature on the seventh anniversary of the closing date and amortizes at a rate of 1.00% per annum payable in equal quarterly instalments, with the remaining principal amount due at maturity.</div>
        <div><br>
        </div>
        <div style="margin: 0px 0px 0px 56.7pt; text-align: justify;">The Facility is guaranteed by Taboola.com, Ltd. and all of its wholly owned material United States and Israeli subsidiaries, subject to certain exceptions set forth in the Credit
          Agreement (collectively, the &#8220;Guarantors&#8221;). The obligations of the Borrower and the Guarantors are secured by substantially all the assets of the Borrower and the Guarantors including stock of subsidiaries, subject to certain exceptions set forth
          in the Credit Agreement.</div>
        <div><br>
        </div>
        <div><br>
        </div>
      </div>
      <div style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">- 21- </font> </div>
      <div>
        <hr style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; color: #000000; text-align: center;" align="center" noshade="noshade"></div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
      </div>
      <div>
        <div style="text-align: right;">
          <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"><font style="font-weight: bold;"><a name="Exhibit992"><!--Anchor--></a>Exhibit

            99.2</font><br>
        </div>
        <div> <br>
        </div>
        <br>
        <div>
          <div style="text-align: center; text-indent: 36pt; font-weight: bold;">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION</div>
        </div>
        <div>
          <div style="text-align: center; font-weight: bold;">AND RESULTS OF OPERATIONS</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt; font-style: italic;">You should read the following discussion and analysis of our financial condition and results of operations together with Taboola&#8217;s audited consolidated financial statements
            and the related notes appearing elsewhere in our registration statement on Form F-1 on file with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) and the pro forma financial information as of and for the year ended December 31, 2020
            under the heading &#8220;Unaudited Pro Forma Combined Financial Information&#8221; included as Exhibit 99.1 to this Report on Form 6-K. Some of the information contained in this discussion and analysis is set forth elsewhere in our registration statement
            on Form F-1 on file with the SEC, including information with respect to Taboola&#8217;s plans and strategy for Taboola&#8217;s business, and includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including
            those factors set forth in the section titled &#8220;Risk Factors&#8221; and &#8220;Special Note Regarding Forward-Looking Statements,&#8221; Taboola&#8217;s actual results could differ materially from the results described in or implied by the forward-looking statements
            contained in the following discussion and analysis. Throughout this section, unless otherwise noted or the context requires otherwise, &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our&#8221; and the &#8220;Company&#8221; refer to Taboola and its consolidated subsidiaries, and in references to
            monetary amounts, &#8220;dollars&#8221; and &#8220;$&#8221; refer to U.S. Dollars, and &#8220;NIS&#8221; to refers to New Israeli Shekels.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Overview</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Taboola is a technology company that powers recommendations across the Open Web with an artificial intelligence, or AI-based, algorithmic engine that we have developed over the past 13 years.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We think of ourselves as a search engine, but in reverse &#8212; instead of expecting people to search for information, we recommend information to people. You&#8217;ve seen us before: we partner with
            websites, devices, and mobile apps, which we collectively refer to as &#8220;digital properties&#8217;&#8217;, to recommend editorial content and advertisements on the Open Web, outside of the closed ecosystems of the walled gardens such as Facebook, Google, and
            Amazon.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Digital properties use our recommendation platform to achieve their business goals, such as driving new audiences to their sites and apps, or increasing engagement on site &#8212; and we don&#8217;t charge
            them for these services. We also provide a meaningful monetization opportunity to digital properties by surfacing paid recommendations by advertisers. Unlike walled gardens, we are a business-to-business, or B2B, company with no competing
            consumer interests. We only interact with consumers through our partners&#8217; digital properties, hence we do not compete with our partners for user attention. Our motivations are aligned. When our partners win, we win, and we grow together.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We empower advertisers to leverage our AI-powered recommendation platform to reach targeted audiences, utilizing effective, native ad-formats across digital properties. We generate revenues
            when people click on or, in some cases, view the ads that appear within our recommendation platform. Advertisers pay us for those clicks or impressions and we share the resulting revenue with the digital properties who display those ads.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Our powerful recommendation platform was built to address a technology challenge of significant complexity: predicting which recommendations users would be interested in, without explicit
            intent data or social media profiles. Search advertising platforms have access, at a minimum, to users&#8217; search queries, which indicates intent, while social media advertising platforms have access to rich personal profiles created by users. In
            contrast, we base our recommendations on an extensive dataset of context and user behavior derived from the intersection of thousands of digital properties and millions of recommended items, including ads and editorial content.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Our annual Revenues grew to $1,188.9 million in 2020, from $1,093.8 million in 2019 and $909.2 million in 2018. Over the same three years, our Gross profit grew to $319.5 million, from $232.0
            million and $234.2 million, and our ex-TAC Gross Profit grew to $382.4 million, from $295.8 million and $281.5 million, respectively. Our Net income (loss) for the same three years was $8.5 million, ($28.0) million and $10.7 million,
            respectively, while our Adjusted EBITDA was $106.2 million, $34.1 million and $66.9 million, respectively. For more information about ex-TAC Gross Profit and Adjusted EBITDA, see <font style="font-style: italic;">&#8220;Management&#8217;s Discussion and
              Analysis of Financial Condition and Results of Operations &#8212; Non-GAAP Financial Measures.&#8221;</font></div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">Merger Agreement</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">On January 25, 2021, we and one of our subsidiaries entered into a Merger Agreement with ION Acquisition Corp. 1 Ltd. Under that agreement, our subsidiary merged with and into ION, with ION
            continuing as the surviving company and becoming our direct, wholly-owned subsidiary. The Merger Agreement and the related transactions were unanimously approved by both our board of directors and the Board. The Business Combination closed June
            29, 2021 and our ordinary shares and warrants began trading on the NASDAQ on June 30, 2021. In connection with the Merger Agreement, we also obtained commitments for the purchase in private transactions which closed concurrently with the
            Business Combination of approximately $285 million of our ordinary shares, of which approximately $150 million was purchased directly from certain of our existing shareholders, primarily from early investors.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-indent: 20pt;">For further information please refer to the <font style="font-style: italic;">&#8220;Unaudited Pro Forma Combined Financial Information&#8221;<font style="font-style: normal;"> in our registration statement on Form F-1 on
                file with the SEC.</font></font></div>
          <div style="text-indent: 20pt;"><font style="font-style: italic;"><font style="font-style: normal;"> <br>
              </font></font></div>
        </div>
        <div>
          <div style="font-weight: bold;">Key Factors and Trends Affecting our Performance</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We believe that our performance and future success depend on several factors that present significant opportunities for us but also pose risks and challenges, including those discussed below
            and in the section entitled <font style="font-style: italic;">&#8220;Risk Factors.&#8221;</font></div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Maintaining and Growing Our Digital Property Partners</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We have a robust network of digital property partners under contracts that provide exclusivity and cover multiple years at inception. These agreements typically require that our code be
            integrated on the digital property web page because of the nature of providing both editorial and paid recommendations. This means that in the vast majority of our business, we do not bid for ad placements, as traditionally happens in the
            advertising technology space, but rather see all users that visit the pages on which we appear. This is true across all platforms and in all geographies. Due to our multi-year exclusive contracts and high retention rates, our supply is
            relatively consistent and predictable. We had approximately 9,000, 7,000 and 6,000 digital property partners in the fourth quarter of 2020, 2019 and 2018, respectively.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We have a strong record of growing the revenue generated from our digital property partners. We grow our digital property partner relationships in four ways. First, we grow the revenue from
            these partnerships by increasing our yield over time. We do this by improving our algorithms, expanding our advertiser base and increasing the amount of data that helps target our ads. Second, we continuously innovate with new product offerings
            and features that increase revenue. Third, we innovate by launching new advertising formats. Fourth, we work closely with our digital property partners to find new placements and page types where we can help them drive more revenue.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We have two primary models for sharing revenue with digital property partners. The most common model is a straight revenue share model. In this model, we agree to pay our partner a fixed
            percentage of the revenue that we generate from advertisements placed on their digital properties. The second model includes guarantees. Under this model, we pay our partners the greater of a fixed percentage of the revenue we generate and a
            guaranteed amount per thousand page views. In the past, we have and may continue to be required to make significant payments under these guarantees.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Growing Our Advertiser Client Base</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We have a large and growing network of advertisers, across multiple verticals. We had approximately 13,000, 12,000 and 10,000 advertiser clients working with us directly, or through advertising
            agencies, worldwide during the fourth quarter of 2020, 2019 and 2018, respectively. A large portion of our revenue comes from advertisers with specific performance goals, such as obtaining subscribers for email newsletters or acquiring leads
            for product offerings. These performance advertisers use our service when they obtain a sufficient return on ad spend to justify their ad spend. We grow the revenue from performance advertisers in three ways. First, we improve the performance
            of our network by developing new product features, improving our algorithms and optimizing our supply. Second, we secure increased budgets from existing advertisers by offering new ad formats and helping them achieve additional goals. Third, we
            grow our overall advertiser base by bringing on new advertisers that we have not worked with previously. In addition to our core performance advertisers, video brand advertisers are a small but growing portion of our revenue.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">Improving Network Yield</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">One way that we grow our revenue is by increasing the yield on our network, which is a general term for the revenue that we make per advertising placement. Because we generally fill close to
            100% of advertising impressions available, yield is generally not affected by changing fill rates, but rather is impacted in four ways. First, we increase our yield by improving the algorithms that select the right ad for a particular user in a
            particular context.&#160; These algorithms are based on Deep Learning technology and are a key competitive advantage. Second, we continuously innovate and develop new product offerings and features for advertisers, which help increase their success
            rates on our network and improve yield. Third, as we grow our advertiser base and mix of advertisers, including adding advertisers able to pay higher rates, our yields increase because of increasing competitive pressure in our auction. Finally,
            we increase our yield by optimizing the way we work with digital properties, including changing formats and placements. Increasing yield drives higher revenues on all digital property partners. Increasing yield also generally increases margins
            for ex-TAC Gross Profit, a non-GAAP measure, for those digital property partners to whom we are paying guarantees.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Product and Research &amp; Development</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We view research and development expenditures as investments that help grow our business over time. These investments, which are primarily in the form of employee salaries and related
            expenditures and hardware infrastructure, can be broken into two categories. This first category includes product innovations that extend the capabilities of our current product offerings and help us expand into completely new markets. This
            includes heavy investment in AI (specifically Deep Learning) in the form of server purchases and expenses for data scientists. This category of investment is important to maintain the growth of the business but can also generally be adjusted up
            or down based on management&#8217;s perception of the potential value of different investment options. The second category of investments are those that are necessary to maintain our core business. These investments include items such as purchasing
            servers and other infrastructure necessary to handle increasing loads of recommendations that need to be served, as well as the people necessary to maintain the value delivered to our customers and digital property partners, such as investments
            in code maintenance for our existing products. This type of investment scales at a slower rate than the growth of our core business.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Managing Seasonality</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">The global advertising industry has historically been characterized by seasonal trends that also apply to the digital advertising ecosystem in which we operate. In particular, advertisers have
            historically spent relatively more in the fourth quarter of the calendar year to coincide with the year-end holiday shopping season, and relatively less in the first quarter. We expect these seasonality trends to continue, and our operating
            results will be affected by those trends with revenue and margins being seasonally strongest in the fourth quarter and seasonally weakest in the first quarter.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Privacy Trends and Government Regulation</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We are subject to U.S. and international laws and regulations regarding data privacy, digital advertising and the collection of user data. In addition, large Internet and technology companies
            such as Google and Apple are making their own decisions as to how to protect consumer privacy, which impacts the whole digital ecosystem. Because we power editorial recommendations, digital properties typically embed our code directly on their
            web pages. This makes us less susceptible to many of these regulations and industry trends because we are able to drop first party cookies. In addition, because of this integration on our partners&#8217; pages, we have rich contextual information to
            use to further refine the targeting of our recommendations.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">Impact of COVID-19</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">In December 2019, COVID-19 was first reported to the World Health Organization, or WHO, and in January 2020, the WHO declared the outbreak to be a public health emergency. In March 2020, the
            WHO characterized COVID-19 as a pandemic. The spread of COVID-19 initially significantly impacted the digital advertising industry, reducing advertising budgets, lowering ad rates and leading advertisers to defer planned ad campaigns.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We experienced a notable decline in advertising rates soon after the onset of the COVID-19 pandemic, and we attribute an approximately 12% reduction in our second quarter of 2020 revenue to the
            pandemic. We took three steps to address the reduction in advertising rates, which resulted in a gradual recovery in revenue that continued throughout the remainder of the year. First, we worked with our digital property partners to optimize
            yield by focusing on revenue-generating enhancements. Second, we focused our sales efforts on finding advertisers that were still spending online and trying to reach consumers who were sheltering at home. This effort, combined with a return of
            spend from certain types of advertisers, allowed us to grow our advertiser base and increase yield. Finally, we continued our investment in our algorithms that help improve yields. After the reduction in advertising and rates in the first two
            quarters of 2020, we saw a strong recovery in our network yield in the third quarter. The gains in network yields we realized in the second half of 2020 continued into the first two quarters of 2021 and we expect network yields to increase
            during the second half of 2021 at rates consistent with pre-COVID historical levels.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">As a result of the pandemic, we restricted employee travel, asked all non-essential personnel to work from home, cancelled physical participation in sales activities, meetings, events and
            conferences, which reduced our operating expenses. We also examined the efficiency and impact of expenditures across our business and found more efficient ways to work in many cases. This included imposing a hiring freeze while we worked to
            optimize the way we conducted business. As part of our close relationship with our digital property partners, certain of our partners that had guarantee compensation arrangements agreed to forgo their guarantee compensation and instead shift to
            100% revenue share until yield recovered. In connection with these arrangements, for certain digital property partners, we extended their agreements. In the fourth quarter of 2020, we returned to guarantee arrangements with substantially all of
            the affected digital property partners and agreed with them to undo the 100% revenue share arrangement, reinstate the original payment terms, and make payments, retroactively, of the guarantee under the original compensation terms.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The ultimate societal and economic impact of the COVID-19 pandemic remains unknown. In particular, we cannot predict whether any worsening or continuation of the pandemic, or any resulting
            recession, will adversely affect our business.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">Key Financial and Operating Metrics</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We regularly monitor a number of metrics in order to measure our current performance and project our future performance. These metrics aid us in developing and refining our growth strategies
            and making strategic decisions.</div>
          <div><br>
          </div>
        </div>
        <table id="z98e200db24f84bbb88f9b7be7d0e29c7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center;">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; text-align: center;">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Unaudited</div>
              </td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="18" style="vertical-align: bottom; text-align: center;">
                <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>632,022</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>547,014</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,188,893</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,093,830</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>909,246</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Gross profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>189,744</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>136,880</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>319,497</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>231,969</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>234,230</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>ex-TAC Gross Profit (1)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>222,784</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>167,853</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>382,352</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>295,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>281,526</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Net cash provided by operating activities</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>13,980</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>47,842</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>139,087</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>18,056</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>76,977</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Free Cash Flow (1)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(7,695</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>37,208</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>121,313</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(26,272</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>44,820</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Net income (loss)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(42,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(10,948</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>8,493</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(28,025</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>10,661</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Adjusted EBITDA (1)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>74,345</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>33,145</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>106,193</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>34,082</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>66,932</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Net income (loss) Margin</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(6.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(2.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>0.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(2.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>1.2</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Ratio of Net income (loss) to Gross profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(22.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(8.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>2.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(12.1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>4.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Ratio of Adjusted EBITDA to ex-TAC Gross Profit (1)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>33.4</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>19.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>27.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>11.5</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>23.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Cash, cash equivalents and short-term deposits</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>585,243</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>148,741</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>242,811</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>115,883</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>145,259</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div>
          <hr style="height: 2px; width: 20%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;" align="left" noshade="noshade"></div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3e240008eb1c4b7ba7899a4c5b97e4b1" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 20pt; vertical-align: top;">
                <div>(1)</div>
              </td>
              <td style="vertical-align: top;">
                <div>Non-GAAP measure. Refer to &#8220;Non-GAAP Financial Measures&#8221; below for an explanation and reconciliation to GAAP metrics.</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="font-style: italic; font-weight: bold;"> <br>
          </div>
          <div style="font-style: italic; font-weight: bold;">Revenues</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Substantially all of our Revenues are generated from advertisers. We enter into commercial arrangements with advertisers defining the terms of our service and the basis for our charges.
            Generally, our charges are based on a CPC or CPM basis. For campaigns priced on a CPC basis, we recognize these Revenues when a user clicks on an advertisement we deliver. For campaigns priced on a CPM basis, we recognize these Revenues when an
            advertisement is displayed.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Gross profit</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Gross profit is calculated as presented on our consolidated statement of income (loss) for the periods presented.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">ex-TAC Gross Profit</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-indent: 20pt;">We calculate ex-TAC Gross Profit as Gross profit adjusted to include Other cost of revenues.</div>
        </div>
        <div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Net cash provided by operating activities</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Net cash provided by operating activities is our Net income (loss) adjusted for non-cash charges and net cash provided by changes in our working capital.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Free Cash Flow</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We calculate Free Cash Flow as Net cash provided by operating activities minus purchases of property, plant and equipment, including capitalized platform costs. We expect our Free Cash Flow to
            fluctuate in future periods as we invest in our business to support our plans for growth.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Net income (loss)</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Net income (loss) is calculated as presented on our consolidated statement of income (loss) for the periods presented.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Adjusted EBITDA</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We calculate Adjusted EBITDA as Net income (loss) before net financial expenses, income tax expenses/ benefit and depreciation and amortization, further adjusted to exclude share-based
            compensation and other noteworthy income and expense items such as certain merger or acquisition related costs, which may vary from period-to-period.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Net income (loss) Margin</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-indent: 20pt;">Net income (loss) Margin is Net income (loss) divided by Revenues.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Ratio of Net income (loss) to Gross profit</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-indent: 20pt;">We calculate Ratio of Net income (loss) to Gross Profit as Net income (loss) divided by Gross profit.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Ratio of Adjusted EBITDA to ex-TAC Gross Profit</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We calculate Ratio of Adjusted EBITDA to ex-TAC Gross Profit as Adjusted EBITDA divided by ex-TAC Gross Profit.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Cash, cash equivalents and short-term deposits</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Cash equivalents are short-term highly liquid investments that are readily convertible to cash with original maturities of three months or less. Short-term deposits are bank deposits with
            maturities of more than three months but less than one year.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Non-GAAP Financial Measures</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We are presenting the following non-GAAP financial measures because we use them, among other things, as key measures for our management and board of directors in managing our business and
            evaluating our performance. We believe they also provide supplemental information that may be useful to investors. The use of these measures may improve comparability of our results over time by adjusting for items that may vary from period to
            period or not be representative of our ongoing operations.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">These non-GAAP measures are subject to significant limitations, including those identified below. In addition, other companies may use similarly titled measures but calculate them differently,
            which reduces their usefulness as comparative measures. Non-GAAP measures should not be considered in isolation or as a substitute for GAAP measures. They should be considered as supplementary information in addition to GAAP operating and
            financial performance measures.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">ex-TAC Gross Profit</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We believe that ex-TAC Gross Profit, which we calculate as Gross profit adjusted to include Other cost of revenues, is useful because traffic acquisition cost, or TAC, is what we must pay
            digital properties to obtain the right to place advertising on their websites, and we believe focusing on ex-TAC Gross Profit better reflects the profitability of our business. We use ex-TAC Gross Profit as part of our business planning, for
            example in decisions regarding the timing and amount of investments in areas such as infrastructure.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div>Limitations on the use of ex-TAC Gross Profit include the following:</div>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z51dd83ad25b54248b3540103004a6a89" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 6.45%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 93.55%; vertical-align: top;">
                <div style="text-align: justify; margin-left: 20pt;">Traffic acquisition cost is a significant component of our Cost of revenues but is not the only component; and</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd8dcb1663d9a4a8688bb24d2f97c30dc" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 6.45%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 93.55%; vertical-align: top;">
                <div style="text-align: justify; margin-left: 20pt;">ex-TAC Gross Profit is not comparable to our Gross profit and by definition ex-TAC Gross Profit presented for any period will be higher than our Gross profit for that period</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-indent: 20pt;">The following table provides a reconciliation of Revenues and Gross profit to ex-TAC Gross Profit:</div>
          <div><br>
          </div>
        </div>
        <table id="z4e38a20cff994cf19439369df81d3eb2" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Unaudited</div>
              </td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="18" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>632,022</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>547,014</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,188,893</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,093,830</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>909,246</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Traffic acquisition cost</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>409,238</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>379,161</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>806,541</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>798,001</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>627,720</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Other cost of revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>33,040</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>30,973</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>62,855</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>63,860</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>47,296</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Gross profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>189,744</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>136,880</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>319,497</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>231,969</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>234,230</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Adjusted to include the following:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Other cost of revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>33,040</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>30,973</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>62,855</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>63,860</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>47,296</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>ex-TAC Gross Profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>222,784</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>167,853</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>382,352</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>295,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>281,526</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>

        </table>
        <div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div style="font-style: italic; font-weight: bold;">Adjusted EBITDA and Ratio of Adjusted EBITDA to ex-TAC Gross Profit</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We believe that Adjusted EBITDA is useful because it allows us and others to measure our performance without regard to items such as share-based compensation expense, depreciation and interest
            expense and other items that can vary substantially depending on our financing and capital structure, and the method by which assets are acquired. We use Adjusted EBITDA and GAAP financial measures for planning purposes, including the
            preparation of our annual operating budget, as a measure of performance and the effectiveness of our business strategies, and in communications with our board of directors. We may also use Adjusted EBITDA as a metric for determining payment of
            cash or other incentive compensation.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-indent: 20pt;">Limitations on the use of Adjusted EBITDA include the following:</div>
          <div style="text-indent: 20pt;"> <br>
          </div>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb9438bc02e19479ab2598eb4e2c2c1d1" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">although depreciation expense is a non-cash charge, the assets being depreciated may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such
                  replacements or for new capital expenditure requirements;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zeff1bef0bb1d47f4a9a38f77b5471595" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">Adjusted EBITDA excludes share-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense for our business and an important part of our
                  compensation strategy;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z3d36c2f725f141acbedcfe4c72a513b4" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">Adjusted EBITDA does not reflect, to the extent applicable for a period presented: (1) changes in, or cash requirements for, our working capital needs; (2) interest expense, or the cash requirements
                  necessary to service interest or if applicable principal payments on debt, which reduces cash available to us; or (3) tax payments that may represent a reduction in cash available to us; and</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb441dda659e6442384f0fbf40ea2e491" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">the expenses and other items that we exclude in our calculation of Adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from Adjusted EBITDA when they
                  report their operating results.</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We calculate Adjusted EBITDA as Net income (loss) before net financial expenses, income tax expenses/ benefit and depreciation and amortization, further adjusted to exclude share-based
            compensation and other noteworthy income and expense items such as certain merger or acquisition related costs, which may vary from period-to-period.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-indent: 20pt;">The following table provides a reconciliation of Net income (loss) to Adjusted EBITDA.</div>
          <div><br>
          </div>
        </div>
        <table id="z255e6ef2858f4c9e96dfe7d90d88758f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Unaudited</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="18" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Net income (loss)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(42,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(10,948</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>8,493</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(28,025</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>10,661</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Adjusted to exclude the following:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Financial expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>883</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>206</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>2,753</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>3,392</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,346</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Tax expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>10,159</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>9,128</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>14,947</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>4,997</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>5,326</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Depreciation and amortization</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>16,890</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>18,827</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>33,957</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>39,364</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>35,272</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Share-based compensation expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>83,654</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>4,493</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>28,277</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>8,249</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>10,451</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>M&amp;A costs(1)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>5,588</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>11,439</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>17,766</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>6,105</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>&#8212;</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Revaluation of contingent liability</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>&#8212;</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>&#8212;</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>&#8212;</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>&#8212;</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>3,876</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Adjusted EBITDA</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>74,345</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>33,145</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>106,193</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>34,082</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>66,932</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div>
          <hr style="height: 2px; width: 20%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;" align="left" noshade="noshade"></div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd52d8b0738b9434cb72ec9b61c7755f5" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 20pt; vertical-align: top;">
                <div>(1)</div>
              </td>
              <td style="vertical-align: top;">
                <div>
                  <div>For the six months ended June 30, 2021, costs were primarily related to the Connexity acquisition, and for the 2019 and 2020 periods, the costs were primarily related to the proposed strategic transaction with Outbrain, Inc. which we
                    elected not to consummate.</div>
                </div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We calculate Ratio of Net income (loss) to Gross profit as Net income (loss) divided by Gross profit. We calculate Ratio of Adjusted EBITDA to ex-TAC Gross Profit as Adjusted EBITDA divided by
            ex-TAC Gross Profit. We believe that the Ratio of Adjusted EBITDA to ex-TAC Gross Profit is useful because TAC is what we must pay digital properties to obtain the right to place advertising on their websites, and we believe focusing on ex-TAC
            Gross Profit better reflects the profitability of our business. The following table reconciles Ratio of Net income (loss) to Gross profit and Ratio of Adjusted EBITDA to ex-TAC Gross Profit.</div>
          <div><br>
          </div>
        </div>
        <table id="z714ca66c33e64c739521e2519bb5e79e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Unaudited</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="18" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Gross profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>189,744</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>136,880</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>319,497</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>231,969</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>234,230</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Net income (loss)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(42,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(10,948</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>8,493</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(28,025</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>10,661</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Ratio of Net income (loss) to Gross profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(22.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(8.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>2.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(12.1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>4.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>ex-TAC Gross Profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>224,784</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>167,853</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>382,352</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>295,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>281,526</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Adjusted EBITDA</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>74,345</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>33,145</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>106,193</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>34,082</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>66,932</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Ratio of Adjusted EBITDA to ex-TAC Gross Profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>33.4</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>19.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>27.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>11.5</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>23.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>

        </table>
        <div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Free Cash Flow</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We believe that Free Cash Flow, which we calculate as Net cash provided by operating activities minus purchases of property and equipment, including capitalized platform costs, is useful to
            provide management and others with information about the amount of cash generated from our operations that can be used for strategic initiatives, including investing in our business, making strategic acquisitions, and strengthening our balance
            sheet. We expect our Free Cash Flow to fluctuate in future periods as we invest in our business to support our plans for growth. Limitations on the use of Free Cash Flow include the following:</div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z91686373cb6d43538a0a7235c82d0de4" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">it should not be inferred that the entire Free Cash Flow amount is available for discretionary expenditures. For example, cash is still required to satisfy other working capital needs, including short-term
                  investment policy, restricted cash, and intangible assets;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za86edb0f34aa450ba89daaf90cafbc1e" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">Free Cash Flow has limitations as an analytical tool, and it should not be considered in isolation or as a substitute for analysis of other GAAP financial measures, such as Net cash provided by operating
                  activities; and</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z0eccd04f50754730998bafc9ffaf3db3" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>this metric does not reflect our future contractual commitments.</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The following table provides a reconciliation of Net cash provided by operating activities to Free Cash Flow.</div>
          <div><br>
          </div>
        </div>
        <table id="zefef2da1a263489bb626027f1e28aa32" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Unaudited</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="18" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">Net cash provided by operating activities</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">13,980</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">47,842</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">139,087</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">18,056</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">76,977</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div style="font-family: &#38;quot;">Purchases of property and equipment, including capitalized platform costs</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: &#38;quot;">(21,675</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div style="font-family: &#38;quot;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: &#38;quot;">(10,634</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div style="font-family: &#38;quot;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: &#38;quot;">(17,774</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div style="font-family: &#38;quot;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: &#38;quot;">(44,328</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div style="font-family: &#38;quot;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div style="font-family: &#38;quot;">(32,157</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div style="font-family: &#38;quot;">)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">Free Cash Flow</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">(7,695</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div style="font-family: &#38;quot;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">37,208</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">121,313</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">(26,272</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div style="font-family: &#38;quot;">)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div style="font-family: &#38;quot;">44,820</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>

        </table>
        <div>
          <div><br>
          </div>
          <div style="font-weight: bold;">Components of Our Results of Operations</div>
          <div><br>
          </div>
          <div style="font-weight: bold;">Revenues</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Substantially all of our Revenues are generated from advertisers. We enter into commercial arrangements with advertisers defining the terms of our service and the basis for our charges.
            Generally, our charges are based on a CPC or CPM basis. For campaigns priced on a CPC basis, we recognize these Revenues when a user clicks on an advertisement we deliver. For campaigns priced on a CPM basis, we recognize these Revenues when an
            advertisement is displayed.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Cost of revenues</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-indent: 20pt;">Our cost of revenue primarily includes Traffic acquisition cost and other cost of revenue.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic;">Traffic acquisition cost</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Traffic acquisition cost or TAC consist primarily of cost related to digital property compensation for placing our platform on their digital property and cost for advertising impressions
            purchased from real-time advertising exchanges and other third parties. Traffic acquisition costs also include up-front payments, incentive payments, or bonuses paid to the digital property partners, which are recognized over the respective
            contractual term of the digital property arrangement. Taboola has two primary compensation models for digital properties. The most common model is a revenue share model. In this model, Taboola agrees to pay a fixed percentage of the revenue
            that it generates from advertisements placed on the digital properties. The second model includes guarantees. Under this model, Taboola pays a greater of a fixed percentage of the revenue generated and a committed guaranteed amount per thousand
            page views (&#8220;Minimum guarantee model&#8221;). Actual compensation is settled on a monthly basis. Expenses under both the revenue share model as well as the Minimum guarantee model are recorded as incurred, based on actual revenues generated by
            Taboola at the respective month.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic;">Other cost of revenues</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Other cost of revenues consist of data center and related costs, depreciation expense related to hardware supporting our platform, amortization expense related to capitalized internal use
            software and acquired technology, depreciation of communication equipment, personnel costs, and allocated facilities costs. Personnel costs include salaries, bonuses, share-based compensation, and employee benefit costs, and are primarily
            attributable to our operations group, which supports our platform and our clients.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Gross profit</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Gross profit, calculated as revenues less cost of revenues, has been, and will continue to be, affected by various factors, including fluctuations in the amount and mix of revenue and the
            amount and timing of investments to expand our partner and client base. We hope to increase both our Gross profit in absolute dollars and as a percentage of revenue through enhanced operational efficiency and economies of scale.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Operating Expenses</div>
          <div><br>
          </div>
          <div style="font-style: italic; font-weight: bold;">Research and development expenses</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Research and development expenses consist primarily of personnel costs, including salaries, bonuses, share-based compensation and employee benefits costs, allocated facilities costs,
            professional services and depreciation. We expect research and development expenses to increase in future periods to support our growth, including continuing to invest in optimization, accuracy and reliability of our platform and other
            technology improvements to support and drive efficiency in our operations. These expenses may vary from period to period as a percentage of revenue, depending primarily upon when we choose to make more significant investments.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Sales and marketing expenses</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Sales and marketing expenses consist of payroll and other personnel related costs, including salaries, share-based compensation, employee benefits, allocated facilities costs and travel for our
            sales and marketing departments. We expect to increase selling and marketing expense to support the overall growth in our business.</div>
        </div>
        <div>
          <div><br>
          </div>
          <div style="font-style: italic; font-weight: bold;">General and administrative expenses</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">General and administrative expenses consist of payroll and other personnel related costs, including salaries, share-based compensation, employee benefits and expenses for executive management,
            legal, finance and others. In addition, general and administrative expense include fees for professional services and allocated facilities costs. We expect our general and administrative expense to increase as we scale up headcount with the
            growth of our business, and as a result of operating as a public company, including compliance with the rules and regulations of the Securities Exchange Commission, legal, audit, additional insurance expenses, investor relations activities, and
            other administrative and professional services.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Other income (expenses), net</div>
          <div><br>
          </div>
          <div style="font-style: italic; font-weight: bold;">Finance expenses, net</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Finance expenses, net, primarily consists of interest income (expense), gains (losses) from foreign exchange fluctuations and bank fees.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Provision for income taxes</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">The statutory corporate tax rate in Israel was 23% for 2020, 2019 and 2018, although Taboola benefits from certain tax benefits under Israeli law (refer to the Note 14 to our audited
            consolidated financial statements included in our registration statement on Form F-1 filed on file with the SEC.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Pursuant to the Israeli Law for Encouragement of Capital Investments-1959 (the &#8220;Investments Law&#8221;) and its various amendments, under which the Company has been granted Privileged Enterprise&#8221;
            status, we were granted a tax exemption status for the years 2018 and 2019. The 2018 tax exemption resulted in approximately $10.4 million of potential tax savings. In 2019 we did not benefit from the Privileged Enterprise status because we did
            not have taxable income. The benefits available to a Privileged Enterprise in Israel relate only to taxable income attributable to the specific investment program and are conditioned upon terms stipulated in the Investment Law. The Company
            received a Tax Ruling from the Israeli Tax Authority that its activity is an industrial activity and therefore eligible for the status of a Privileged Enterprise, provided that the Company meets the requirements under the ruling. If Taboola
            does not fulfill these conditions, in whole or in part, the benefits can be revoked, and Taboola may be required to refund the benefits, in an amount linked to the Israeli consumer price index plus interest. As of December 31, 2020, management
            believes that the Company meets the aforementioned conditions.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">For 2020 and subsequent tax years, we adopted The &#8220;Preferred Technology Enterprises&#8221; (&#8220;PTE&#8221;) Incentives Regime (Amendment 73 to the Investment Law) granting a 12% tax rate in central Israel on
            income deriving from benefited intangible assets, subject to a number of conditions being fulfilled, including a minimal amount or ratio of annual R&amp;D expenditure and R&amp;D employees, as well as having at least 25% of annual income
            derived from exports to large markets. PTE is defined as an enterprise which meets the aforementioned conditions and for which total consolidated revenues of its parent company and all subsidiaries are less than NIS 10 billion.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">As of December 31, 2020, Taboola has an accumulated tax loss carry-forward of approximately $12 million. These tax losses in Israel can be offset indefinitely. Non-Israeli subsidiaries are
            taxed according to the tax laws in their respective countries of residence.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">The following table provides consolidated statements of income (loss) data for the periods indicated:</div>
          <div><br>
          </div>
        </div>
        <table id="z448bdb0dfe26440a9a52bbef9d85ee8c" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended</div>
                <div style="font-family: &#38;quot; font-weight: bold;">June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended</div>
                <div style="font-family: &#38;quot; font-weight: bold;">June 30, 2021 vs. June 30, 2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot;">$ <font style="font-weight: bold;">Change</font></div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-weight: bold; text-align: center;">% Change</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Unaudited</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; padding-bottom: 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"><br>
                </div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="6" rowspan="1" style="vertical-align: bottom; text-align: center;" valign="bottom"><font style="font-weight: bold;">(dollars in thousands)</font> <br>
              </td>
              <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="6" rowspan="1" style="vertical-align: bottom;">
                <div style="font-weight: bold;">(thousands)</div>
              </td>
              <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div>Revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>632,022</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>547,014</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>85,008</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>15.5</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div>Cost of revenues:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div style="margin-left: 8pt;">Traffic acquisition cost</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>409,238</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>379,161</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>30,077</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>7.9</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div style="margin-left: 8pt;">Other cost of revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>33,040</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>30,973</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>2,067</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>6.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div>Total cost of revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>442,278</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>410,134</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>32,144</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>7.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div>Gross profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>189,744</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>136,880</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>52,864</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>38.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div>Operating expenses:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div style="margin-left: 8pt;">Research and development expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>53,943</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>43,907</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>10,036</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>22.9</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div>Sales and marketing expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>103,444</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>66,832</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>36,612</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>54.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div style="margin-left: 8pt;">General and administrative expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>64,144</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>27,755</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>36,389</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>131.1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div>Total operating expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>221,531</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>138,494</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>83,037</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>60.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div style="margin-left: 8pt;">Operating loss before finance expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(31,787</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(1,614</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(30,173</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(1,869.5</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div>Finance expenses, net</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>883</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>206</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>677</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>328.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div>Loss before income taxes</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(32,670</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(1,820</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(30,850</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(1,695.1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%; background-color: #CCEEFF;" valign="bottom">
                <div>Provision for income taxes</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>10,159</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>9,128</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,031</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>11.3</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 52%;" valign="bottom">
                <div>Net loss</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(42,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(10,948</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(31,881</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(291.2</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; font-weight: bold;">Comparison of the Six Months Ended June 30, 2021 and 2020</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Revenues increased by $85.0 million, or 15.5%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020. New digital property partners within the first 12 months
            that were live on our network contributed approximately $44.7 million of new Revenues for the six months ended June 30, 2021 compared to the six months ended June 30, 2020.&#160; Net growth of existing digital property partners, including the growth
            of new digital property partners (beyond the revenue contribution determined based on the run-rate revenue generated by them when they are first on-boarded), contributed approximately $40.3 million for the six months ended June 30, 2021
            compared to the six months ended June 30, 2020.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Gross Profit increased by $52.9 million, or 38.6%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Ex-TAC Gross Profit, a non-GAAP measure, increased $54.9 million, or 32.7%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020. Net growth of existing digital
            property partners, including the growth of new digital property partners (beyond the revenue contribution determined based on the run-rate revenue generated by them when they are first on-boarded), contributed a majority of the increase in
            ex-TAC Gross Profit for the six months ended June 30, 2021 compared to the six months ended June 30, 2020. New digital property partners within the first 12 months that were live on our network contributed the remainder of the increase in
            ex-TAC Gross Profit for the six months ended June 30, 2021 compared to the six months ended June 30, 2020.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Cost of revenues increased $32.1 million, or 7.8%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Traffic acquisition cost increased $30.1 million, or 7.9%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020, reflecting the increase in Revenues. Revenues
            increased at a faster pace than Traffic acquisition cost due to increased yield on digital properties with guarantee obligations and a mix shift to higher margin digital properties. The cost of guarantees (total payments due under guarantee
            arrangements in excess of amounts the Company would otherwise be required to pay under revenue sharing arrangements) as a percentage of traffic acquisition costs were approximately 15% for the six months ended June 30, 2020, and approximately
            10% for the six months ended June 30, 2021.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Other cost of revenues increased $2.1 million, or 6.7%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020, primarily as a result of increases of $0.3 million
            in employee related costs, $0.5 million in depreciation and amortization expenses, $0.9 million in data costs and of $0.7 million in service taxes, partially offset by a decrease of $0.6 million in our content delivery network and data center
            costs attributable to improved efficiencies.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Research and development expenses increased by $10.0 million, or 22.9%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020, reflecting an increase of $12.0
            million in employee related costs primarily attributable to higher share-based compensation triggered from going public, partially offset by a $2.0 million decrease in depreciation expenses associated with the timing of new server investments.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Sales and marketing expenses increased by $36.6 million, or 54.8%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020, reflecting an increase of $34.5 million
            in employee related costs primarily attributable to the previously mentioned share-based compensation from going public and an increase of $2.4 million in marketing event costs.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">General and administrative expenses increased by $36.4 million, or 131.1%, for the six months ended June 30, 2021 compared to the six months ended June 30, 2020, primarily as a result of an
            increase of $40.5 million in employee related costs attributable to the higher share-based compensation from going public and an increase of&#160; $4.2 million in issuance costs related to warrants as part of going public, partially offset by $6.6
            million of acquisition related expenses in 2020 related to our terminated acquisition of Outbrain.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Finance expenses, net increased by $0.7 million for the six months ended June 30, 2021 compared to the six months ended June 30, 2020, primarily as a result of increases in foreign currency
            exchange loss and revaluation of lease liability, partially offset by higher interest income.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Loss before income taxes increased by $30.9 million for the six months ended June 30, 2021 compared to the six months ended June 30, 2020, primarily due to an increase of $79.2 million in
            share-based compensation primarily attributable to going public partially offset by an increase in gross profit of $52.9 million. Tax expense increased by $1.0 million, or 11.3%, for the six months ended June 30, 2021 compared to the six months
            ended June 30, 2020, primarily driven by an increase in valuation allowance for deferred tax assets of $0.7 million and higher taxes in foreign jurisdictions of $0.3 million.</div>
        </div>
        <div>
          <div><br>
          </div>
        </div>
        <div>
          <div>The following table provides consolidated statements of income (loss) data for the periods indicated:</div>
          <div><br>
          </div>
        </div>
        <table id="z80e23952353646cc8e7eb04fa4101a77" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom"><br>
              </td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom"><br>
              </td>
              <td rowspan="1" colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;" valign="bottom"> 2020 vs. 2019</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" nowrap="nowrap" valign="bottom"><br>
              </td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" valign="bottom"><br>
              </td>
              <td rowspan="1" colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;" valign="bottom"> 2019 vs. 2018</td>
              <td colspan="1" rowspan="2" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom"><br>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom"><br>
              </td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;" valign="bottom">$ Change <br>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;" valign="bottom">% Change <br>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;" valign="bottom">$ Change <br>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px; font-weight: bold;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;" valign="bottom">% Change <br>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom;">
                <div style="font-weight: bold;">(thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom;">
                <div style="font-weight: bold;">(thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div>Revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,188,893</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,093,830</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>909,246</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>95,063</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>8.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>184,584</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>20.3</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div>Cost of revenues:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div style="margin-left: 8pt;">Traffic acquisition cost</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>806,541</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>798,001</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>627,720</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>8,540</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1.1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>170,281</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>27.1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div style="margin-left: 8pt;">Other cost of revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>62,855</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>63,860</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>47,296</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(1,005</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(1.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>16,564</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>35.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div style="margin-left: 8pt;">Total cost of revenues</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>869,396</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>861,861</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>675,016</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>7,535</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>0.9</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>186,845</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>27.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div>Gross profit</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>319,497</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>231,969</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>234,230</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>87,528</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>37.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(2,261</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(1.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div>Operating expenses:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div style="margin-left: 8pt;">Research and development expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>99,423</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>84,710</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>73,024</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>14,713</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>17.4</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>11,686</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>16.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div>Sales and marketing expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>133,741</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>130,353</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>109,671</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>3,388</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>2.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>20,682</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>18.9</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div style="margin-left: 8pt;">General and administrative expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>60,140</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>36,542</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>34,202</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>23,598</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>64.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>2,340</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>6.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div>Total operating expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>293,304</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>251,605</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>216,897</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>41,699</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>16.6</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>34,708</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>16.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div style="margin-left: 8pt;">Operating income (loss) before finance expenses</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>26,193</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(19,636</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>17,333</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>45,829</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(233.4</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(36,969</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(213.3</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div>Finance expenses, net</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>2,753</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>3,392</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>1,346</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(639</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(18.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>2,046</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>152.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div>Income (loss) before income taxes</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>23,440</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(23,028</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>15,987</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>46,468</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(201.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(39,015</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(244.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%; background-color: #CCEEFF;" valign="bottom">
                <div>Provision for income taxes</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>14,947</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>4,997</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>5,326</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>9,950</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>199.1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(329</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(6.2</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 16%;" valign="bottom">
                <div>Net income (loss)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>8,493</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(28,025</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>10,661</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>36,518</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(130.3</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(38,686</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(362.9</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)%</div>
              </td>
            </tr>

        </table>
        <div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">Comparison of the Years Ended December 31, 2020 and 2019</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Revenues increased $95.1 million, or 8.7%, for the year ended December 31, 2020 compared to the year ended December 31, 2019. New digital property partners within the first 12 months that were
            live on our network contributed approximately $84 million of new Revenues. Net growth of existing digital property partners, including the growth of new digital property partners (beyond the revenue contribution determined based on the run-rate
            revenue generated by them when they are first on-boarded), contributed approximately $11 million.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Gross Profit increased $87.5 million, or 37.7%, for the year ended December 31, 2020 compared to the year ended December 31, 2019.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Ex-TAC Gross Profit, a non-GAAP measure, increased $86.5 million, or 29.2%, for the year ended December 31, 2020 compared to the year ended December 31, 2019. Net growth of existing digital
            property partners, including the growth of new digital property partners (beyond the revenue contribution determined based on the run-rate revenue generated by them when they are first on-boarded), contributed a majority of the increase in
            ex-TAC Gross Profit. New digital property partners within the first 12 months that were live on our network contributed the remainder of the increase in revenues.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Cost of revenues increased $7.5 million, or 0.9%, for the year ended December 31, 2020 compared to the year ended December 31, 2019.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Traffic acquisition cost increased $8.5 million, or 1.1%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, reflecting the increase in Revenues. Revenues
            increased at a faster pace than Traffic acquisition cost due to increased yield on digital properties with guarantee obligations and a mix shift to higher margin digital properties. The cost of guarantees (total payments due under guarantee
            arrangements in excess of amounts the Company would otherwise be required to pay under revenue sharing arrangements) as a percentage of traffic acquisition costs were approximately 15% or less for both years.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Other cost of revenues decreased $1.0 million, or 1.6%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, primarily as a result of a decrease in our data center
            costs attributable to improved efficiencies, and lower depreciation and amortization expenses.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Research and development expenses increased by $14.7 million, or 17.4%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, primarily as a result of an increase
            of $23.3 million in employee related costs primarily attributable to higher compensation, partially offset by $3.5 million lower depreciation expenses, $3.2 million of higher capitalized costs related to new features and products and $1.9
            million reduced IT related cost attributable to improved efficiencies.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Sales and marketing expenses increased by $3.4 million, or 2.6%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, primarily as a result of an increase of $7.3
            million in employee related costs primarily attributable to higher compensation, partially offset by an decrease of $2.9 million in marketing event costs.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">General and administrative expenses increased by $23.6 million, or 64.6%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, primarily as a result of an increase
            of $11.0 million in acquisition related expenses related to our terminated acquisition of Outbrain in 2020, an increase of $6.9 million in employee related costs primarily attributable to higher compensation and $2.2 million higher bad debt
            expenses.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Finance expenses, net decreased by $0.6 million, or 18.8%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, primarily as a result of $1.8 million decrease in
            our foreign currency exchange loss, which was partially offset by $1.0 million increase in interest income from investments.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Income (loss) before income taxes increased by $46.5 million, or 201.8%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, primarily due to increase in revenues
            of $95.1 million, partially offset by a $37.5 million increase in employee related cost and $11.0 million of acquisition related expenses related to the proposed strategic transaction with Outbrain Inc., which we elected not to consummate.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Tax expense increased by $9.9 million, or 199.1%, for the year ended December 31, 2020 compared to the year ended December 31, 2019, primarily driven by higher taxes in foreign jurisdictions of
            $9.8 million, an increase in our uncertain tax positions of $1.7 million, partially offset by a decrease in valuation allowance for deferred tax assets of $1.2 million.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Comparison of the Years Ended December 31, 2019 and 2018</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Revenues increased $184.6 million, or 20.3%, for the year ended December 31, 2019 compared to the year ended December 31, 2018. New digital property partners within the first 12 months that
            were live on our network contributed approximately $168 million of new Revenues. Net growth of existing digital property partners, including the growth of new digital property partners (beyond the revenue contribution determined based on the
            run-rate revenue generated by them when they are first on-boarded), contributed approximately $17 million.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Gross Profit decreased $2.3 million, or 1.0%, for the year ended December 31, 2019 compared to the year ended December 31, 2018.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Ex-TAC Gross Profit, a non-GAAP measure, increased $14.3 million, or 5.1%, for the year ended December 31, 2019 compared to the year ended December 31, 2018. Net growth of existing digital
            property partners, including the growth of new digital property partners (beyond the revenue contribution determined based on the run-rate revenue generated by them when they are first on-boarded), contributed a substantial majority of the
            increase in ex-TAC Gross Profit. New digital property partners within the first 12 months that were live on our network contributed the remainder of the increase in revenues.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Cost of revenues increased $186.8 million, or 27.7%, for the year ended December 31, 2019 compared to the year ended December 31, 2018.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Traffic acquisition cost increased $170.3 million, or 27.1%, for the year ended December 31, 2019 compared to the year ended December 31, 2018, reflecting the increase in Revenues. Traffic
            acquisition cost rose at a faster pace than Revenues due to our strategic decision to offer enhanced guarantee obligations to attract certain new digital properties. The cost of guarantees as a percentage of traffic acquisition costs were
            approximately 15% or less for both years.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Other cost of revenues increased $16.6 million, or 35.0%, for the year ended December 31, 2019 compared to the year ended December 31, 2018, primarily as a result of a $5.9 million increase in
            our data center costs attributable to higher usage of our platform, $4.8 million of higher depreciation and amortization expenses and $3.2 million in employee related costs primarily attributable to an increase in headcount.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Research and development expenses increased by $11.7 million, or 16.0%, for the year ended December 31, 2019 compared to the year ended December 31, 2018, primarily as a result of an increase
            of $12.8 million in employee related costs primarily attributable to an increase in headcount additions to focus on development of our platform and investing in innovation, partially offset by $3.6 million of higher capitalized costs related to
            new features and products compared to the prior period.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Sales and marketing expenses increased by $20.7 million, or 18.9%, for the year ended December 31, 2019 compared to the year ended December 31, 2018, primarily as a result of an increase of
            $15.4 million in employee related costs primarily attributable to an increase in headcount to support our continued growth and expansion of our Digital Properties and Advertiser client base and an increase of $4.1 million in marketing event
            costs.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">General and administrative expenses increased by $2.3 million, or 6.8%, for the year ended December 31, 2019 compared to the year ended December 31, 2018. This increase was primarily as a
            result of $6.1 million in acquisition related expenses related to our terminated acquisition of Outbrain in 2020. The 2018 General and administrative expenses of $34.2 million included $3.9 million related to the achievement of the earn out
            component of the acquisition of ConvertMedia in 2016.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Finance expenses increased by $2.0 million, or 152.0%, for the year ended December 31, 2019 compared to the year ended December 31, 2018, primarily as a result of $2.2 million increase in our
            foreign currency exchange loss, partially offset by $0.3 million increase in interest income from investments.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Income (loss) before income taxes decreased by $39.0 million, or 244.0%, for the year ended December 31, 2019 compared to the year ended December 31, 2018, primarily due to increase in employee
            related cost of $31.2 million and $6.1 million of acquisition related expenses related to the proposed strategic transaction with Outbrain Inc., which we elected not to consummate.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Tax expense decreased by $0.3 million, or 6.2%, for the year ended December 31, 2019 compared to the year ended December 31, 2018, primarily driven by a decrease in our uncertain tax positions
            of $0.6 million, partially offset by an increase related to tax assessments in Israel and taxes in foreign jurisdictions of $0.3 million.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Liquidity and Capital Resources</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Our primary cash needs are for working capital, acquisitions, contractual obligations and other commitments. To date, we have financed our operations primarily through private equity financings
            and, more recently, through the proceeds from the merger with ION and cash generated by operations. For the six months ended June 30, 2021 and 2020, we generated cash from operations of $14.0 million and $47.8 million, respectively. We
            generated cash from operations of $139.1 million in 2020, $18.1 million in 2019 and $77.0 million in 2018.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">As part of our growth strategy, we have made and expect to continue to make significant investments in research and development and in our technology platform. We also plan to consider possible
            future acquisitions. To fund our growth, depending on the magnitude and timing of our growth investments and the size and structure of any possible future acquisition, we may supplement our available cash from operations with issuances of
            equity or debt securities and/or make other borrowings which could be material.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">As of June 30, 2021 and December 31, 2020, we had $585.2 million and $242.8 million, respectively, of cash and cash equivalents and $4.0 million and $7.0 million, respectively, in restricted
            deposits, used as security for our lease commitments. We believe that this, together with net proceeds from our engagements with advertisers, clients and digital property partners, will provide us with sufficient liquidity to meet our working
            capital and capital expenditure needs for at least the next 12 months. In the future, we may be required to obtain additional equity or debt financing in order to support our continued capital expenditures and operations. In the event that
            additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all. If we are unable to raise additional capital or generate cash flows necessary to expand our operations and invest in new
            technologies, this could reduce our ability to compete successfully and harm our business, growth, and results of operations.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">In light of the recent worldwide COVID-19 pandemic, we are closely monitoring the effect that current economic conditions may have on our working capital requirements. To date, the pandemic has
            not had a material negative impact on our cash flow or liquidity. We cannot provide any assurance regarding future possible COVID-19-related impacts on our business.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Our future capital requirements and the adequacy of available funds will depend on many factors, including those set forth under &#8220;Risk Factors.&#8221;</div>
        </div>
        <div>
          <div><br>
          </div>
          <div style="font-weight: bold;">Cash Flows</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-indent: 20pt;">The following table summarizes our cash flows for the periods indicated:</div>
        </div>
        <div>
          <div><br>
          </div>
        </div>
        <table id="z0122e2ef82c84c18b0a24ec727c0c8ea" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Unaudited</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="18" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">
                <div style="font-weight: bold;">Cash Flow Data:</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Net cash provided by operating activities</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>13,980</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>47,842</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>139,087</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>18,056</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>76,977</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Net cash provided by (used in) investing activities</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(19,139</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>14,126</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>10,883</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(47,466</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(38,935</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Net cash provided by (used in) financing activities</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>346,234</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>677</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>2,603</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>991</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(12,156</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Effect of exchange rate changed on cash</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>1,357</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(824</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>3,318</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>454</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>(2,111</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Net increase (decrease) in cash and cash equivalents</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>342,432</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>61,821</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>155,891</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>(27,965</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>23,775</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Operating Activities</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">During the six months ended June 30, 2021, Net cash provided by operating activities was $14.0 million, a decrease of $33.8 million, compared to $47.8 million for the same period in 2020. Net
            cash provided by operating activities of $14.0 million for the six months ended June 30, 2021 was primarily related to our net loss of $42.8 million adjusted by non-cash charges including share-based compensation expense of $83.7 million mostly
            triggered from going public, partially offset by an increase of $41.7 million used in working capital. The $41.7 million decrease in cash resulting from changes in working capital primarily consisted of a $33.8 million increase in prepaid
            expenses and other current assets and long-term prepaid expenses, $31.0 million decrease in trade payables and $1.3 million due to changes in operating lease liabilities and right of use assets, partially offset by a $19.0 million decrease in
            trade receivables and $5.3 million increase in&#160; other current liabilities. The change in working capital was primarily driven by seasonality of revenues, timing of collections, higher prepayments to our digital property partners, and higher
            guarantee compensation committed in the fourth quarter of 2020 but paid during Q1 2021 to our digital property partners,&#160; that we agreed with them to undo the 100% revenue share arrangement, reinstate the original payment terms, and receive
            payments, retroactively, of the guarantee under the original compensation terms.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Net cash provided by operating activities of $47.8 million for the six months ended June 30, 2020 was primarily related to our net loss of $10.9 million adjusted by non-cash charges of $23
            million mostly including depreciation and amortization of $18.8 million, and by $35.8 million provided by working capital. The $35.8 million increase in cash resulting from changes in working capital primarily consisted of a $14.3 million
            increase in other current liabilities, $43.3 million decrease in trade receivables, a $15.0 million decrease in other current assets (including prepaid expenses), partially offset by a $35.5 million decrease in trade payables and $1.3 million
            due to changes in operating lease liabilities and right of use assets. The change in working capital was primarily driven by seasonality of revenues, timing of collections and as part of our close relationship with our digital property
            partners, the fact that certain of our partners that had guarantee compensation arrangements agreed to forgo their guarantee compensation and instead shift to 100% revenue share until yield recovered.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2020, Net cash provided by operating activities of $139.1 million was due to our net income of $8.5 million and positive adjustments for non-cash charges of
            $56.1 million and net cash inflows of $74.5 million provided by changes in working capital.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The $56.1 million of non-cash charges primarily consisted of depreciation and amortization of $34.0 million and share-based compensation of $28.3 million which were partially offset by an
            aggregate of $6.7 million of finance expenses and decrease in deferred taxes.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The $74.5 million increase in cash resulting from changes in working capital primarily consisted of a $34.3 million increase in other current liabilities, $23.4 million increase in trade
            payables, a $18.0 million decrease in other current assets (including prepaid expenses) and a $2.1 million increase due to changes in operating lease liabilities and right of use assets, partially offset by a $3.3 million increase in account
            receivables. The changes in working capital were driven by increased payables due to the growth in operation, improved collections and higher employee compensation.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2019, Net cash provided by operating activities of $18.1 million was primarily due to our net loss of $28.0 million and positive adjustments for non-cash
            charges of $46.8 million and net cash outflows of $0.7 million used by changes in working capital.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">The $46.8 million non-cash charges primarily consisted of depreciation and amortization of $39.4 million and share-based compensation of $8.3 million, which were partially offset by finance
            expenses, accrued interest and decrease in deferred taxes of $0.9 million.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The $0.7 million increase in cash resulting from changes in working capital primarily consisted of a $31.6 million increase in trade payables, a $5.2 million increase in accrued expenses and
            other current liabilities and a $2.6 million increase due to changes in operating lease liabilities and right of use assets, which were offset by a $24.8 million increase in other current assets (including prepaid expenses) and a $15.3 million
            increase in account receivables. The change in working capital was primarily driven by increased revenues, timing of collections and our strategic decision to offer enhanced guarantee obligations to attract certain new digital properties.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2018, Net cash provided by operating activities of $77.0 million was primarily related to our net income of $10.7 million, positive adjustments for non-cash
            charges of $51.3 million and net cash inflows of $15.0 million used by changes in our operating assets and liabilities.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The $51.3 million non-cash charges primarily consisted of depreciation and amortization of $35.3 million, share-based compensation of $10.5 million, a revaluation of contingent consideration of
            $3.9 million and finance expenses, accrued interest and decrease in deferred taxes of $1.8 million.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The $15.0 million increase in cash resulting from changes in working capital primarily consisted of a $26.9 million increase in trade payable, and a $19.6 increase in accrued expenses and other
            current liabilities partially offset by a $29.1 million increase in account receivables and a $2.5 million increase in other current assets (including prepaid expenses). The change in working capital was primarily driven by increased revenues.</div>
        </div>
        <div>
          <div><br>
          </div>
          <div style="font-style: italic; font-weight: bold;">Investing Activities</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">During the six months ended June 30, 2021, Net cash used in investing activities was $19.1 million, a decrease of $33.2 million, compared to $14.1 million in net cash provided for the same
            period in 2020. Net cash used in investing activities for the six months ended June 30, 2021 consisting of $21.7 million of purchases of property and equipment, including capitalized platform costs.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Net cash provided by investing activities for the six months ended June 30, 2020 consisting of $25.0 million of proceeds from short-term deposits partially offset by $10.6 million purchases of
            property and equipment, including capitalized platform costs.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2020, Net cash provided by investing activities was $10.9 million, consisting of $29.0 million of proceeds from short-term and restricted deposits partially
            offset by $17.8 million purchases of property and equipment, including capitalized platform costs.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2019, Net cash used for investing activities was $47.5 million, consisting of $44.3 million purchases of property and equipment, including capitalized
            platform costs and $4.0 million business acquisition, partially offset by $0.8 million of proceeds from short term investments and restricted deposits.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2018, Net cash used for investing activities was $38.9 million, consisting of $32.2 million purchases of property and equipment, including capitalized
            platform costs and $7.4 million investments in short term investments and restricted deposits, partially offset by $0.5 million proceeds from sale of property and equipment.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Financing Activities</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">During the six months ended June 30, 2021, Net cash provided by financing activities was $346.2 million, an increase of $345.5 million, compared to $0.7 million for the same period in 2020.<font style="font-weight: bold; font-style: italic;">&#160;</font>Net cash provided by financing activities for the six months ended June 30, 2021 consisting of $346.2 million resulting from proceeds received from the IPO.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Net cash provided by financing activities for the six months ended June 30, 2020 consisting of $0.7 million resulting from proceeds received from share option exercises.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2020, Net cash provided by financing activities was $2.6 million, resulting from proceeds received from share option exercises.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2019, Net cash provided by financing activities was $1.0 million, resulting from proceeds received from share option exercises.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">During the year ended December 31, 2018, Net cash used in financing activities was $12.2 million, primarily driven by payment of contingent consideration of $12.8 million, partially offset by
            $0.6 million proceeds of share option exercises.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Contractual Obligations</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">The following table discloses aggregate information about material contractual obligations and the periods in which they are due as of June 30, 2021. Future events could cause actual payments
            to differ from these estimates.</div>
        </div>
        <div><br>
        </div>
        <table id="zb717f50d143c4cb0aba9dddd6cd7653b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="22" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Contractual Obligations by Period</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2022</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2023</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2024</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2025</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Thereafter</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="22" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 28%; background-color: #CCEEFF;" valign="bottom">
                <div>Operating Leases(1)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>9,201</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>16,993</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>14,606</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>12,894</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>9,204</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>17,226</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 28%;" valign="bottom">
                <div>Non-cancellable purchase obligations(2)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>2,861</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>2,164</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>964</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>1</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>&#8212;</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>&#8212;</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 28%; background-color: #CCEEFF;" valign="bottom">
                <div>Total Contractual Obligations</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>12,062</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>19,158</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>15,570</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>12,895</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>9,204</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>17,226</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>

        </table>
        <div><br>
          <hr style="height: 2px; width: 20%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;" align="left" noshade="noshade"></div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z7b2f15e362804c6aba2d63dac2204db8" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 20pt; vertical-align: top;">
                <div>(1)</div>
              </td>
              <td style="vertical-align: top;">
                <div>Represents future minimum lease commitments under non-cancellable operating lease agreements.</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z54a07d5fc4cf429493588a71b4cbe303" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 20pt; vertical-align: top;">
                <div>(2)</div>
              </td>
              <td style="vertical-align: top;">
                <div>Primarily represents non-cancelable amounts for contractual commitments in respect of software and information technology.</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The commitment amounts in the table above are associated with contracts that are enforceable and legally binding and that specify all significant terms, including fixed or minimum services to
            be used, fixed, minimum or variable price provisions, and the approximate timing of the actions under the contracts. The table does not include obligations under agreements that we can cancel without a significant penalty. The table above does
            not reflect any reduction for prepaid obligations as of June 30, 2021. As of June 30, 2021, we have a provision related to unrecognized tax benefit liabilities totaling $2.4 million and other provisions related to severance pay and contribution
            plans, which have been excluded from the table above as we do not believe it is practicable to make reliable estimates of the periods in which payments for these obligations will be made.&#160; However on September 1, 2021 we entered into a new $300
            million senior secured credit agreement in connection with the Connexity acquisition.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">Other Commercial Commitments</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">In the ordinary course of our business, we enter into agreements with certain digital properties, under which, in some cases we agree to pay them a guaranteed amount, generally per thousand
            page views on a monthly basis. These agreements could cause a gross loss on digital property accounts in which the guarantee is higher than the actual revenue generated. These contracts generally range in duration from 2 to 5 years, though some
            can be shorter or longer. These contracts are not included in the table above.</div>
        </div>
        <div>
          <div><br>
          </div>
          <div style="font-weight: bold;">Off-Balance Sheet Arrangements</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">As of June 30, 2021 and December 31, 2020, we did not have any off-balance sheet arrangements, as defined in Item 303(a)(4)(ii) of Regulation S-K, such as the use of unconsolidated
            subsidiaries, structured finance, special purpose entities or variable interest entities.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Critical Account Policies and Estimates</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Our discussion and analysis of financial condition results of operations are based upon our consolidated financial statements included elsewhere in our registration statement on Form F-1 filed
            with the SEC. The preparation of our consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. We base our estimates on
            past experience and other assumptions that we believe are reasonable under the circumstances, and we evaluate these estimates on an ongoing basis. Actual results may differ from those estimates.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Our critical accounting policies are those that materially affect our consolidated financial statements and involve difficult, subjective or complex judgments by management. A thorough
            understanding of these critical accounting policies is essential when reviewing our consolidated financial statements. We believe that the critical accounting policies listed below involve the most difficult management decisions because they
            require the use of significant estimates and assumptions as described above.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">See Note 2 to our audited financial statements included elsewhere in our registration statement on Form F-1 filed with the SEC for more information.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Revenue Recognition</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We recognize revenues in accordance with ASC No. 606, &#8220;Revenue from Contracts with Customers.&#8221; Under this standard, we recognize revenue when the customer obtains control of promised goods or
            services in an amount that reflects the consideration we expect to receive in exchange for those goods or services. To determine revenue recognition for contracts that are within the scope of the standard, we perform the following five steps:</div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zeee395fb73fa4197b43d618faf1d0179" border="0" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20.25pt;">1.</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>Identify the contract with a customer;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z4c65b191ae1141fea25904e78de939fb" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">2.</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">Identify the performance obligations in the contract, including whether they are distinct in the context of the contract;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z843ac11f587146fea55ced6089752bf4" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">3.</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>Determine the transaction price, including the constraint on variable consideration;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zafdaf6caeab54daaa4173290eb1fb57e" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20.25pt;">4.</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>Allocate the transaction price to the performance obligations in the contract; and</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z77e60f4177a04c3c80b99c4780fa6790" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">5.</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>Recognize revenue as the Company satisfies the performance obligations.</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Our customers are the advertisers that advertise on our platform. Advertisers accept our terms of service upon signature on an insertion order, or IO, and registration to the platform.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">For campaigns priced on a cost-per-click, or CPC, basis, we bill the customers and recognize revenues when a user clicks on an advertisement displayed.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">For campaigns priced on a cost-per-thousand impression, or CPM, basis, we will bill our customers and recognize revenues based on the number of times an advertisement is displayed to a user.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The determination of whether revenue should be reported gross of amounts billed to advertisers (gross basis) or net of payments to digital properties partners (net basis) requires significant
            judgment and is based on management assessment of whether we are acting as the principal or an agent in the transaction. We have determined that we act as principal in its arrangements because we have the ability to direct the services to our
            customers. We have contracts with our digital properties that provide exclusivity and cover multiple years at inception. These agreements typically require that our code be integrated on the digital property web page. Thus, in the vast majority
            of our business, we do not bid for ad placement, but rather we control the specified pages before they are transferred to the customer, see all users that visit the respective pages and are able to run a predictive auction and direct the ad
            placement to the relevant customer. We further concluded that (i) we are primarily responsible for fulfilling the promise to provide the service in the arrangement; and (ii) we have latitude in establishing the contract price with the
            advertisers. In addition, Taboola has inventory risk on a portion of our multi-year agreement with digital properties. Therefore, based on these and other factors, we report revenue earned on a gross basis.</div>
        </div>
        <div>
          <div><br>
          </div>
          <div style="font-weight: bold;">Practical Expedients</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at
            the amount to which we have the right to invoice for services performed.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within sales and marketing expenses.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Internal Use Software costs</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">According to ASC 350-40 we capitalize certain internal use software development costs associated with creating and enhancing internal use software related to its platform and technology
            infrastructure. These costs include personnel and related employee benefits expenses for employees who are directly associated with and who devote time to software projects, and services consumed in developing or obtaining the software.
            Software development costs that do not meet the criteria for capitalization are expensed as incurred and recorded in technology and development expenses in the consolidated statements of income (loss).</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Software development activities generally consist of three stages, (i) the planning stage, (ii) the application and infrastructure development stage, and (iii) the post-implementation stage.
            Costs incurred in the planning and post implementation stages of software development, including costs associated with the post-configuration training and repairs and maintenance of the developed technologies, are expensed as incurred. We
            capitalize costs associated with software developed for internal use when both the preliminary project stage is completed and management has authorized further funding for the completion of the project. Costs incurred in the application and
            infrastructure development stages, including significant enhancements and upgrades, are capitalized. Capitalization ends once a project is substantially complete and the software and technologies are ready for their intended purpose. Internal
            use software development costs are amortized using a straight-line method over the estimated useful life of three years, commencing when the software is ready for its intended use.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-weight: bold;">Share-Based Compensation</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Share-based compensation expense related to share-based awards is recognized based on the fair value of the awards granted and recognized as an expense over the requisite service period for
            share options and performance-based RSUs. We elect the straight-line recognition method for awards subject to graded vesting based only on a service condition and the accelerated method for awards that are subject to performance. The
            compensation expense associated with performance based RSUs is adjusted based on the probability in achieving performance targets. Forfeitures are accounted for as they occur instead of estimating the number of awards expected to be forfeited.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The fair value of each option award is estimated on the grant date using the Black-Scholes option pricing model.The Black-Scholes option pricing model requires the input of highly subjective
            assumptions, including the fair value of the underlying ordinary shares, the expected term of the award, the expected volatility of the price of the Company&#8217;s ordinary shares, risk-free interest rates, and the expected dividend yield of
            ordinary shares. The fair value of each RSU award is based on the fair value of the underlying ordinary shares on the grant date. The assumptions used to determine the fair value of the share awards represent management&#8217;s best estimates. These
            estimates involve inherent uncertainties and the application of management&#8217;s judgment.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The fair value of each option award is estimated on the date of grant using the Black-Scholes model using the following assumptions:</div>
          <div><br>
          </div>
        </div>
        <table id="zdfa59c43600842da91c1806c50cbe796" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="10" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Unaudited</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Volatility</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>51.0% - 54.7</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>50.0% - 53.82</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>50.0% - 54.0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>47.6% - 48.8</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>51.1% - 52.5</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Risk-free interest</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>0.51% - 1.27</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>0.38% - 0.52</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>0.38% - 0.67</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>1.65% - 2.34</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>2.26% - 2.68</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%; background-color: #CCEEFF;" valign="bottom">
                <div>Dividend yield</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" valign="bottom">
                <div>0</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" nowrap="nowrap" valign="bottom">
                <div>%</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 40%;" valign="bottom">
                <div>Expected Term (in years)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>5-6.85</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>6.25</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>6.25</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>6.25</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
                <div>6.25</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>

        </table>
        <div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;"><font style="font-style: italic;">Fair Value of Taboola Ordinary Shares.</font> As Taboola Ordinary Shares have not been publicly traded, the fair value was determined by our board of
            directors, with input from management and valuation reports prepared by third-party valuation specialists.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;"><font style="font-style: italic;">Risk-Free Interest Rate.</font> The risk-free rate for the expected term of the options is based on the Black-Scholes option-pricing model on the yields of
            U.S. Treasury securities with maturities appropriate for the expected term of employee share option awards.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;"><font style="font-style: italic;">Expected Term.</font> The expected term represents the period that options are expected to be outstanding. We determine the expected term using the simplified
            method. The simplified method deems the term to be the average of the time-to-vesting and the contractual life of the options.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;"><font style="font-style: italic;">Expected Volatility.</font> Since we have no trading history of Taboola Ordinary Shares, the expected volatility is derived from the average historical share
            volatilities of several unrelated public companies within our industry over a period equivalent to the option&#8217;s expected term.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;"><font style="font-style: italic;">Expected Dividend Yield.</font> We have never declared or paid any cash dividends and do not presently plan to pay cash dividends in the foreseeable future. As
            a result, an expected dividend yield of zero percent was used.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Ordinary Shares Valuations</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">The fair value of the Taboola Ordinary Shares underlying our equity awards was determined by our board of directors, after considering contemporaneous third-party valuations and input from
            management. The valuations of Taboola Ordinary Shares were determined in accordance with the guidelines outlined in the American Institute of Certified Public Accountants Practice Aid, Valuation of Privately-Held-Company Equity Securities
            Issued as Compensation.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The assumptions we use in the valuation models were based on future expectations combined with management judgment, and considered numerous objective and subjective factors to determine the
            fair value of Taboola Ordinary Shares as of the date of each option grant, including the following factors:</div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zbef88852a5b74a5fa6984b672d83b1eb" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>the prices, rights, preferences, and privileges of our preferred shares relative to our common share;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z03d40e29b56f4442a87693d1fb838b79" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>our operating and financial performance;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z9a551a2365e1404d81335c4fb8f4d990" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>current business conditions and projections;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z373fb1cbb71248338d48aa5df005d020" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">the likelihood of achieving a liquidity event, such as an initial public offering or sale of our company, given prevailing market conditions;</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="ze952dba504ea4e9abb68befa56a8ede6" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div style="text-align: justify;">any adjustment necessary to recognize a lack of marketability of the Taboola Ordinary Shares underlying the granted options; and</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za643149c538d40ffbe17a5e384ab1a12" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 5%; vertical-align: top;">
                <div style="margin-left: 20pt;">&#8226;</div>
              </td>
              <td style="width: 95%; vertical-align: top;">
                <div>the market performance of comparable publicly-traded companies.</div>
              </td>
            </tr>

        </table>
        <div>
          <div style="text-align: justify; text-indent: 20pt;"> <br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">In valuing Taboola Ordinary Shares, absent an arm&#8217;s-length current/recent round of financing, the fair value of our business, or equity value, was determined using both the income approach and
            market approach. The income approach estimates value based on the expectation of future cash flows that the company will generate. These future cash flows are discounted to their present values using a discount rate based on the capital rates
            of return for comparable publicly traded companies and is adjusted to reflect the risks inherent in the company&#8217;s cash flows relative to those inherent in the companies utilized in the discount rate calculation. The market approach estimates
            value based on a comparison of the company to comparable public companies in a similar line of business.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We used the Hybrid method which is the combination of Probability Weighted Expected Return Method (&#8220;PWERM&#8221;) and option pricing method (&#8220;OPM&#8221;) to determine our Ordinary Share value.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The PWERM involves the estimation of the value of our company under multiple future potential outcomes and estimates the probability of each potential outcome. The per-share value of our
            Ordinary Shares as determined through the PWERM was ultimately based upon probability-weighted per share values resulting from the various future scenarios, which include an initial public offering and continued operation as a private company.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The OPM allocates the overall company value in one of the scenarios to the various share classes based on differences in liquidation preferences, participation rights, dividend policy, and
            conversion rights, using a series of call options.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">After the value for Taboola Ordinary Shares was determined, a discount for lack of marketability (&#8220;DLOM&#8221;) was applied to arrive at the fair value of the Taboola Ordinary Shares on a
            non-marketable basis. A DLOM is applied in order to reflect the lack of a recognized market for a closely held interest and the fact that a non-controlling equity interest may not be readily transferable. A market participant purchasing this
            share would recognize this illiquidity associated with the shares, which would reduce the overall fair market value.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Upon completion of this transaction, the Taboola Ordinary Shares will be publicly traded, and we will rely on the closing price of the Taboola Ordinary Shares as reported on the date of grant
            to determine the fair value of the Taboola Ordinary Shares.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Leases</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">In February 2016, the FASB issued ASU 2016-02, &#8220;Leases&#8221; (&#8220;ASC 842&#8221;), on the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e., lessees and
            lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We adopted the new standard as of January 1, 2019, which requires the recognition of the right-of-use assets, or ROU assets, and related lease liabilities on the balance sheet using a modified
            retrospective approach. The consolidated financial statements related to periods prior to January 1, 2019 were not restated and continue to be reported under ASC Topic 840&#8212;Leases (&#8220;ASC 840&#8221;), which did not require the recognition of operating
            lease liabilities on the balance sheet. As a result, the consolidated financial statements related to periods prior to January 1, 2019 are not entirely comparative with current and future periods. As permitted under ASC 842, we have elected not
            to recognize short-term leases on the balance sheet, nor separate lease and non-lease components.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The ROU asset and lease liability are initially measured at the present value of the lease payments, discounted using the interest rate implicit in the lease or, if that rate cannot be readily
            determined, our incremental borrowing rate based on the information available at the date of adoption in determining the present value of the lease payments.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Our incremental borrowing rate is estimated to approximate the interest rate on similar terms and payments and in economic environments where the leased asset is located.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Some of our leases contain one or more options to extend. The exercise of lease renewal options is typically at our sole discretion. We consider various factors such as market conditions and
            the terms of any renewal options that may exist to determine whether it is reasonably certain to exercise the options to extend the lease.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">Some of the real estate leases contain variable lease payments, including payments based on a Consumer Price Index (&#8220;CPI&#8221;). Variable lease payments based on a CPI are initially measured using
            the index in effect at lease adoption. Additional payments based on the change in a CPI are recorded as a period expense when incurred.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">As of the adoption date, we recognized a lease liability of $80.1 million and a corresponding ROU asset of $74 million; there was no equity impact from the adoption. The difference between the
            lease liability and the ROU asset primarily represents the existing deferred rent liabilities balances before adoption, resulting from historical straight-lining of operating leases, which was effectively reclassified upon adoption to reduce
            the measurement of the ROU asset.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Income taxes</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">We are subject to income taxes in Israel, the U.S., and other foreign jurisdictions. These foreign jurisdictions may have different statutory rates than in Israel. Income taxes are accounted in
            accordance with ASC 740, Income Taxes (&#8220;ASC 740&#8221;). Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and
            liabilities and their respective tax basis as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those
            temporary differences are expected to be recovered or settled.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">The financial effect of changes in tax laws or rates is accounted for in the period of enactment. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount
            expected to be realized.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">We recognize income tax benefits from uncertain tax positions only if we believe that it is more likely than not that the tax position will be sustained upon examination by the taxing
            authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such uncertain tax positions are then measured based on the largest benefit that is more likely than not to be realized upon
            the ultimate settlement. Although we believe we have adequately reserved for our uncertain tax positions, we can provide no assurance that the final tax outcome of these matters will not be materially different. We make adjustments to these
            reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will affect
            the provision for income taxes in the period in which such determination is made. We classify interest and penalties on income taxes (which includes uncertain tax positions) as taxes on income.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Warrants Liability</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify;">We evaluated the Public Warrants and Private Placement Warrants (collectively, &#8216;&#8216;Warrants&#8217;&#8217;) in accordance with ASC 815-40, &#8216;&#8216;Derivatives and Hedging &#8212; Contracts in Entity&#8217;s Own Equity&#8217;&#8217;, and concluded that a
            provision in the Warrant Agreement related to certain tender or exchange offers, as well as provisions that provided for potential changes to the settlement amounts dependent upon the characteristics of the holder of the warrant, preclude the
            Warrants from being accounted for as components of equity.</div>
          <div><br>
          </div>
          <div style="text-align: justify;">As the Warrants meet the definition of a derivative as contemplated in ASC 815 and are not eligible for an exception from derivative accounting, the Warrants are recorded as derivative liabilities on the Balance
            Sheet and measured at fair value at inception (on June 29, 2021, the date of the Business Combination) and at each reporting date in accordance with ASC 820, &#8216;&#8216;Fair Value Measurement&#8217;&#8217;, with changes in fair value recognized in the Statement of
            Operations in the period of change.</div>
          <div><br>
          </div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="text-align: justify; text-indent: -85pt; margin-left: 85pt; font-style: italic; font-weight: bold;">Business combinations</div>
        </div>
        <div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify;">We account for business combinations using the acquisition method of accounting. we determine the recognition of intangible assets based on the following criteria: (i) the intangible asset arises from contractual
            or other rights; or (ii) the intangible asset is separable or divisible from the acquired entity and capable of being sold, transferred, licensed, returned or exchanged. We allocate the purchase price of business combinations to the tangible
            assets, liabilities and intangible assets acquired, based on their estimated fair values. The excess purchase price over those fair values is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition
            date, we may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the
            fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company&#8217;s consolidated statement of operations. The process of estimating the fair values requires significant
            estimates, especially with respect to intangible assets. Critical estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from customer contracts, merchant/network affiliate relationship,
            publisher relationship, technologies, tradenames and discount rates. We estimates fair value based upon assumptions that are believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may
            differ from estimates. </div>
        </div>
        <div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Recent Accounting Pronouncements</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">See the section titled &#8220;Summary of Significant Accounting Policies&#8221; in Note 2 of the notes to our consolidated financial statements included elsewhere in our registration statement on Form F-1
            filed with the SEC for more information.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-weight: bold;">Quantitative and Qualitative Disclosures about Market Risk</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Market risk represents the risk of loss that may impact our financial position because of adverse changes in financial market prices and rates. Our market risk exposure is primarily a result of
            exposure resulting from potential changes in inflation, exchange rates or interest rates. We do not hold financial instruments for trading purposes.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Foreign Currency Exchange Risk</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">A 10% increase or decrease of the NIS, euro, British pound sterling, or the Japanese yen against the U.S. dollar would have impacted the Consolidated Statements of Income (loss) as follows:</div>
        </div>
        <div>
          <div><br>
          </div>
        </div>
        <table id="zbbbd85468c214a7087a23031c70ac7be" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" rowspan="1" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Operating income impact</div>
                <div style="font-family: &#38;quot; font-weight: bold;">Six Months Ended June 30,</div>
              </td>
              <td colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="22" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">Operating income impact</div>
                <div style="font-family: &#38;quot; font-weight: bold;">Year Ended December 31,</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;"> 2021</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2020</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2019</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="text-align: center; vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; text-align: center; border-bottom: #000000 solid 2px;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">2018</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top;" valign="bottom">&#160;</td>
              <td colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom;" valign="bottom">&#160;</td>
              <td colspan="30" rowspan="1" style="vertical-align: bottom; text-align: center;" valign="bottom">
                <div style="font-family: &#38;quot; font-weight: bold;">(dollars in thousands)</div>
              </td>
              <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td rowspan="1" style="vertical-align: top; width: 19.98%; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">+10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">-10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">+10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">-10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">+10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">-10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; text-align: center; font-weight: bold; padding-bottom: 2px;" valign="bottom">&#160;</td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: center; width: 7.01%; font-weight: bold; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">-10% <br>
              </td>
              <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1.05%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 19.98%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>NIS/USD</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(3,991</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>3,991</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(2,438</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>2,438</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(5,481</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>5,481</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(7,529</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>7,529</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 19.98%;" valign="bottom">
                <div>EUR/USD</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>3,045</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(3,045</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>1,468</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(1,468</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>3,671</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(3,671</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>4,395</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(4,395</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 19.98%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>GBP/USD</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(2,096</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>2,096</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(2,475</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>2,475</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(5,072</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>5,072</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>(3,875</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%; background-color: rgb(204, 238, 255);" valign="bottom">
                <div>3,875</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%; background-color: rgb(204, 238, 255);" nowrap="nowrap" valign="bottom">&#160;</td>
            </tr>
            <tr>
              <td style="vertical-align: top; width: 19.98%;" valign="bottom">
                <div>JPY/USD</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>912</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(912</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>780</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(780</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>1,765</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(1,765</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>1,780</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" valign="bottom">
                <div>$</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; text-align: right; width: 7.01%;" valign="bottom">
                <div>(1,780</div>
              </td>
              <td colspan="1" style="vertical-align: bottom; width: 1.05%;" nowrap="nowrap" valign="bottom">
                <div>)</div>
              </td>
            </tr>

        </table>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div style="page-break-after:always;" id="DSPFPageBreak">
            <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        </div>
        <div><br>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Interest Rate Risk</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Interest rate risk is the risk that the value or yield of fixed-income investments may decline if interest rates change. Fluctuations in interest rates may impact the level of interest expense
            recorded on future borrowings. We do not enter into derivative financial instruments, including interest rate swaps, for hedging or speculative purposes.</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="font-style: italic; font-weight: bold;">Credit Risk</div>
          <div><br>
          </div>
        </div>
        <div>
          <div style="text-align: justify; text-indent: 20pt;">Credit risk with respect to accounts receivable is generally not significant, as we routinely assess the creditworthiness of our partners and clients. We generally have not experienced any
            material losses related to receivables from advertisers during the three years ended December 31, 2020. We do not require collateral. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by
            management to be probable in our accounts receivable.</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 20pt;">As of June 30, 2021, we maintained cash and cash equivalents primarily in banks in Israel, United States and United Kingdom. In the United States and United Kingdom, the Company deposits are
            maintained with commercial banks, which are insured by the U.S. Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) and Financial Services Compensation Scheme (&#8220;FSCS&#8221;), which is authorized by the Bank of England (acting in its capacity as the
            Prudential Regulation Authority (PRA), respectively. In Israel, commercial banks do not have government-sponsored deposit insurance. At various times, we have deposits in excess of the maximum amounts insured by the FDIC and FSCS. Historically
            we have not experienced losses related to these balances and believe our credit risk in this area is reasonable. As of June 30, 2021, we maintained balances of approximately $464.2 million and $27.7 million with U.S. banks in excess of the
            amounts insured by the FDIC and in the United Kingdom banks in excess of the amounts insured by the FSCS, respectively.</div>
        </div>
        <div><br>
        </div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
    </div>
  </div>
  <div> </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
