Facebook, Inc.

(AKA: thefacebook.com)
Created: 10-1-2010

Authored by: VC Experts.com, Inc.

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 Methodology for Valuation Ticker
The Valuation Ticker is a venture capital valuation tracking tool that utilizes the average daily close prices
of public companies in particular industries. Each of these companies received venture capital or private
equity funding prior to their IPO. Utilizing averages from 1999 to present, these daily figures are then
applied to the most recent post-money valuation of a private, venture-backed company within the same
industry, as calculated by VC Experts, to simulate the movement of that company's valuation on a daily
basis. Additional data is utilized as a comparative measure, including the NASDAQ and S&P 500 indexes.

Exhibit 2: Valuation Ticker

Current Implied Valuation

$10,601,580,679

VC Experts Calculated
Post-Money Valuation
$7,864,631,164

Total Estimated Fully Diluted Shares as of 10-1-2010: 1,731,694,950

This report issued subject to important legal disclaimers contained on the front & back cover pages of report.
VC Experts Valuation & Deal Term Database (www.vcexperts.com)

Facebook, Inc. (AKA: thefacebook.com)

Company Description

Operates an online directory that targets college and high school students. Facebook's directory requires user
validation as a member of a specific community of more than 25,000 schools, from Ivy league institutions to state
universities to high schools everywhere. A social network, where members can create personal profiles that
include a picture, basic information and interests. Users can also "friend" members at other schools and take
advantage of various communication and life-management functions. ...

Geographic Region: Silicon Valley

Industry Sector: IT Services

Palo Alto, CA
http://www.facebook.com

Mark Zuckerberg
CEO & Founder
156 University Avenue Suite 300
Palo Alto, CA 94301
650-543-4800

Legal Counsel: Fenwick & West LLP

Investors

Digital Sky Technologies (AKA: DST) Greylock Partners

TriplePoint Capital Meritech Capital Partners
European Founders Fund GmbH
Individuals
Microsoft Corporation
Accel Partners

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 Financing Analysis of Facebook, Inc. (AKA: thefacebook.com)

Current Implied Value as of 9/30/2010: $10,601,580,679

Estimated Preferred Price per Share based upon Current Implied Value: $6.12

Investment Date 05/26/2009 12/31/2007 07/10/2006 05/13/2005

Round Number 6 4 3 2
Investment Amount $200.0mm $315.0mm $27.5mm $12.7mm
Certificate Filing Date 05/26/2009 11/01/2007 04/18/2006 04/29/2005
Post-Money Valuation $7,864,631,164 $12,446,170,280 $467,821,569 $87,526,199
Liquidation Preference for the Current Round Pari Passu Pari Passu Pari Passu Pari Passu
Nat.: 31% Reg.: 43% Nat.: 31% Reg.: 43% Nat.: 31% Reg.: 43% Nat.: 31% Reg.: 43%
Round of Financing Series E or greater Series D Series C Series B
Nat.: 8% Reg.: 10% Nat.: 13% Reg.: 12% Nat.: 17% Reg.: 22% Nat.: 31% Reg.: 29%
Round Direction Down Round Up Round Up Round Up Round
Nat.: 15% Reg.: 17% Nat.: 49% Reg.: 49% Nat.: 49% Reg.: 49% Nat.: 49% Reg.: 49%
Multiple of the Liquidation Preference: 1x; 2x; 3x; > 0 - 1x 0 - 1x 0 - 1x 0 - 1x
3x. Nat.: 88% Reg.: 92% Nat.: 88% Reg.: 92% Nat.: 88% Reg.: 92% Nat.: 88% Reg.: 92%
Type of Preferred Stock Conventional Convertible Conventional Convertible Conventional Convertible Conventional Convertible
Nat.: 40% Reg.: 43% Nat.: 40% Reg.: 43% Nat.: 40% Reg.: 43% Nat.: 40% Reg.: 43%
Capped Participating Preferred
Anti-Dilution Protection Weighted Average Weighted Average Weighted Average Weighted Average
Nat.: 93% Reg.: 95% Nat.: 93% Reg.: 95% Nat.: 93% Reg.: 95% Nat.: 93% Reg.: 95%
Redemption at Investor's Option No No No No
Nat.: 47% Reg.: 78% Nat.: 47% Reg.: 78% Nat.: 47% Reg.: 78% Nat.: 47% Reg.: 78%
Pay-to-Play Penalties
Cumulative Dividends No No No No
Nat.: 67% Reg.: 94% Nat.: 67% Reg.: 94% Nat.: 67% Reg.: 94% Nat.: 67% Reg.: 94%
Reorganization or Recapitalization No No No No
Nat.: 96% Reg.: 94% Nat.: 96% Reg.: 94% Nat.: 96% Reg.: 94% Nat.: 96% Reg.: 94%

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