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Copyright © 2018 Quotient Technology Inc. All Rights Reserved. Quotient, the Coupons.com logo and the Quotient logo are trademarks of Quotient Technology Inc. All other trademarks,

service marks, logos, and company or product names are the property of Quotient Technology Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.

Investor Presentation

May 2018

Copyright © 2018 Quotient Technology Inc. All Rights Reserved. Quotient, the Coupons.com logo and the Quotient logo are trademarks of Quotient Technology Inc. All other trademarks, service marks, logos, and company or product names are the property of Quotient Technology

Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.

2

Forward Looking Statements

This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management,

including our projections regarding future financial performance, our expectations regarding the effects of our strategy which is focused on both growth and operational efficiency, our current expectations with respect to

revenues and Adjusted EBITDA, projections for our second quarter and fiscal year 2018, including our expectations regarding our operating expenses, our plans for our future investments and expansion, our

expectations with respect to consumers’, retailers’ and consumer packaged goods companies’ (CPGs’) future demand and behavior, the continued scaling of the Retailer iQ platform and its ability to grow and perform

and meet the expectations of consumers, retailers and CPGs, as well as the anticipated financial benefits therefrom, the growth potential of Quotient Analytics and the expected benefits, our expectations regarding the

success of the Quotient Media Exchange, our expectations regarding the success of expanding our shopper marketing and media business, our expectations regarding use of shopper data for our solutions, our

expectations regarding our mobile app, our digital print and digital paperless initiatives, our expectations regarding our personalized and targeted promotions and media offerings, our expectations regarding our pricing

strategies, and our efforts with respect to attracting additional retailers and the anticipated benefits from our partner program. The Company operates in a very competitive and rapidly changing environments, and new

risks may emerge from time to time. It is not possible for the Company’s management to predict all risks, nor can it assess the impact of all factors on our business or the extent to which any factor, or combination of

factors, may cause actual results to differ materially from those contained in any forward-looking statements the Company may make. Forward-looking statements should not be read as guarantees of future

performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available to the

Company’s management at the date of this presentation and its management’s good faith belief as of such date with respect to future events, and are subject to risks and uncertainties that could cause actual

performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause such differences include, but are not limited to, the Company’s

financial performance, including its revenues, margins, costs, expenditures, growth rates and operating expenses, and its ability to generate positive cash flow and become profitable; the amount and timing of digital

promotions by CPGs, which are affected by budget cycles, economic conditions and other factors; the company’s ability to negotiate fee arrangements with CPGs and retailers; the Company’s ability to maintain and

expand the use by consumers of digital promotions on its platforms; the Company’s ability to effectively manage its growth and to adapt to changing market conditions; the Company’s ability to successfully integrate

acquired companies into its business; and the Company’s ability to develop and launch new services and features. These factors, together with those described in greater detail in the Company’s annual report on Form

10-K filed with the SEC on February 16, 2018 and in the Company’s future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings made with the SEC, may cause our actual results, performance

or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. The Company disclaims any obligation to update information contained in these forward-looking

statements whether as a result of new information, future events, or otherwise. In addition to the U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. The non-GAAP measures have

limitations as analytical tools and you should not consider them in isolation or as a substitute for an analysis of our results under U.S. GAAP. There are a number of limitations related to the use of these non-GAAP

financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which

could reduce the usefulness of our non-GAAP financial measures as tools for comparison. The Company considers these non-GAAP financial measures to be important because they provide useful measures of the

operating performance of the company, exclusive of unusual events or factors that do not directly affect what we consider to be our core operating performance, and are used by the Company's management for that

purpose. The use of non-GAAP measures is further discussed in the accompanying press release, which has been furnished to the SEC on Form 8-K and posted on the Company’s website. The press release also

defines our non-GAAP financial measure of Adjusted EBITDA. A reconciliation between GAAP and non-GAAP measures can also be found in the accompanying press release and in the Appendix hereto. A

reconciliation of Adjusted EBITDA, a non-GAAP guidance measure, to a corresponding GAAP measure is not available on a forward-looking basis without unreasonable efforts due to the high variability and low visibility

of certain (income) expense items that are excluded in calculating Adjusted EBITDA.



CPGs and Retailers Shift

to Digital Strategies

• CPGs spend ~$225 Billion

annually in marketing

• Integrated, data-driven

solutions are key

• Competitive pressures serve

as catalyst for convergence

3

DIGITAL

E-COMMERCE

OMNI CHANNEL

MEASUREMENT

PROMOTIONS

MEDIA

DATA



Consumer shift from offline to online, particularly

to mobile

Increased need for personalized and targeted

marketing messages

Retailers driving digital marketing activities due

to increased competitive landscape

CPGs need to drive sales through greater

efficiency and higher ROI

Market Drivers

4

Copyright © 2018 Quotient Technology Inc. All Rights Reserved. Quotient, the Coupons.com logo and the Quotient logo are trademarks of Quotient Technology Inc. All other trademarks, service marks, logos, and company or product names are the property of Quotient Technology Inc.

(or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.

Large & Growing Market

5

Media Advertising~$7B+ estimated spend in 2018 on

digital advertising, and growing3

CPGs spend $225B+ in MarketingShifting dollars to digital channels brings efficiency and closed-loop measurement

Promotions~300B national offers distributed annually1

~$200B in Trade Promotions spent annually2

(1) Number of CPG coupons distributed based on NCH CPG Coupon Trends Year-End 2016 Report; (2) Trade Budget: Goldman Sachs November 2015 report: Trade Budgets at a Tipping Point; (3) Mobile Media: eMarketer May 31,2016: CPG Advertisers estimated to Spend

~$7+ Billion on Digital Advertising This Year; (4) Shopper Marketing: U.S. Brand Activation Marketing Forecast (2016-2020): Key Findings Report. Association of National Advertisers and PQ Media, April 2016

Shopper MarketingRetailer specific media + promotions~$19B4



CPGs Accelerate Budget Shift to Digital

1: NCH Mid-Year 2017 Coupon Facts

6

Total Digital Savings On Our Network (in Billions)

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$3.6B

$5.4B

~80%1 of all CPG

redemptions still come

from paper coupons

Delivered +50%

more savings in 2017

2016 2017



Digital Growth Drives Scale

7

Broad Retailer Reach

• National Coverage

• Representing ~$400B of CPG

retail sales

• Multi-channel: grocery, drug

dollar, mass and club retailers

• Rich demographic, shopper data

Deep CPG Relationships

• ~700 Customers

• ~2000 brands

Shopper Data Drives Engine

• 60M+ shoppers registered on

programs powered by Retailer iQ

• ~20M monthly average visitors to

Coupons.com mobile web + app

• Represents ~50% of U.S

households



Our Partners

8

CPGs Retailers



Powerful Network Effect

9

Demandfor digital coupon

by consumers

Supplyof digital

coupons/budgets

from CPG’s

Demand Driven From:• RIQ implementations

• Retailer Marketing drives users to digital

coupon programs

• Coupons.com app & mobile web

Supply Driven From:• CPG budget shift from offline to digital

• Better ROI on marketing spend



Quotient Solutions

10

Brands & Retailers

Shoppers

Quotient Insights, Analytics & Measurement

Drive Sales

Quotient PromotionsDigital Coupons / Targeted Offers /

Digital Circular / Specialty Retail

Quotient MediaQMX / Shopper Marketing / Programmatic / Brand

Pages / Video Ads



Quotient Promotions - Retailer iQ

11

Real-time

Email/SMS

Engagement

Digital

Offers

Digital

Shopping List

Digital

Receipts

Digital

Circular

Targeted

Media

Reporting &

Analytics

Personalization… Personalization…

Data on Shoppers Transactions/Digital Use, Products, Promotions, Pricing



Retailer iQ Drives Sales for Retailers and Brands

12

CPGsRetailers

3XAverage return on

promotional spend on

digital coupons2

+11%Average lift in sales from

shoppers who join their

digital programs1

Source: 1 Quotient Internal Reporting; 2 Quotient Internal Reporting (study of 50+ offers across categories at RiQ retailers from December 2016 to February 2017. Study based on comparison between matched panel of Activators and Non-Activators)



Quotient Internal Reporting (2018), all measurement is test versus control; 2 Quotient Internal Reporting (2018), all measurement is test versus control

Driving Trial Frozen Foods Brand

Strategy: New Brand Launch

Increasing Buy RateFeminine Hygiene Brand

Strategy: Trial & Loyalty

40%

Incremental

Buyers

40%

Incremental

Sales

44%

Incremental

Units

37%

Incremental

Buyers

Targeted Promotional

Offers Increase in Targeted

Offers Over Q1 2017

5xIn Q1 2018

# of targeted campaigns

from

3x# of brands



~100M Verified

Audience Reach

Shopper Data

Point of Sale (POS)

Quotient purchase intent

Quotient Media - QMX

14

Powerful Data-Driven

Media SolutionBasket

Data

Purchase

History

Geography

Purchase

Intent

Behaviors

Digital

Footprint

Audience

National, retailer & targeted

Engagement

High quality media

& digital promotions

Measurement

Store sales & ROI



QMX: How It Works

15

Tech: Media Execution

1st Party InventoryQuotient Owned & Operated

(Coupons.com)

2nd Party InventoryRetailer Owned & Operated

3rd Party InventoryAudience & non-O&O Contextual

Ad Delivery

Ad Environment

Brand Safety

Viewability

Verified

Optimization

Ad Delivery

Ad Engagement

Foot Traffic

Sales Lift | ROAS

Viewability

Tech: Measurement

1st Party

Media iQ

Promo iQ

Brand Equity

Value Content

Event Promotion

Store Finders/Maps

eCommerce

Brand pages

Personalization

In-stock availability

Environmental triggers

Retail branding

Social

Retailer Exclusive

Content/Creative ExperiencesAudience Data Targeting

1st Party Data

3rd Party Data

2nd Party DataRetailer POS data

Behavioral | Demo | Geographic

3rd Party



QMX Powers Albertsons Performance Media

16

The combined power of retail and technology drives precise & effective sales growth

+



Quotient Analytics



18

WhyQuotient?

ConsumersPlan, shop and save on favorite

brands at preferred stores

Personalized, relevant experience

CPGsMulti-channel, national shopper reach

Drives efficient marketing spend and

profitable sales

RetailersProvides digital platform to reach and

engage shoppers

Drives increased sales in competitive

retail environment



Financial Highlights

19



20

Business

Model

CPG $$$

GROSS MARGIN

PROMOTIONS MEDIA

PARTNERO&O RETAILERO&O

DISPLAY &

IMPRESSIONSTRANSACTIONS

TAC / DIST FEEDIST FEE

TOTALTOTAL

GROSS PROFIT

OTHER COSTS

PAID REVENUE SHARE &

OTHER 3RD PARTY FEES

CONSUMER ENGAGEMENT

NETWORK DISTRIBUTION

PLATFORM SOLUTION

REVENUE

PUBLISHER



$57.4 $58.4 $58.1 $63.4 $63.8

$15.2 $16.1 $23.9$29.7 $23.0

Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018

Quarterly Trend ($M)

Promotions Media

Revenue

21

11% y/y

Revenue $72.6 $74.5 $82.0 $93.1 $86.8

QoQ -4% 3% 10% 14% -7%

YoY 10% 11% 23% 23% 20%

51% y/y



Revenue Split

22

73% of total revenue growing +36%

Promotion revenue from CPGs, which excludes Specialty Retail, grew 19% over Q1’17

$M Q1'17 Q2'17 Q3'17 Q4'17 FY Y/Y %

% of

Total Q1'18 Y/Y %

% of

Total

Digital Print 15.4 17.2 16.6 17.3 66.5 -13% 21% 15.8 3% 18%

Retailer iQ 31.2 30.6 33.0 35.7 130.5 57% 41% 40.2 29% 47%

Others 2.0 2.4 2.2 2.2 8.7 1% 2% 1.7 -15% 2%

Total Promo Revenue from CPGs 48.6 50.2 51.8 55.2 205.7 22% 64% 57.7 19% 67%

Specialty Retail 8.8 8.2 6.3 8.2 31.5 -28% 10% 6.1 -31% 7%

Total Promotion 57.4 58.4 58.1 63.4 237.2 12% 74% 63.8 11% 74%

Media 15.2 16.1 23.9 29.7 84.9 35% 26% 23.0 51% 26%

Total Revenues 72.6 74.5 82.0 93.1 322.1 17% 100% 86.8 20% 100%

20182017



Growth In Top 10 CPG Customers

23Based on 2017 Top 10 CPGs (U.S. revenue only)

15%

17%

19%

21%

23%

25%

27%

29%

Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018

Top 10 CPGs as a % of Total Promotions Revenue



Transactions

24

• Q1 YoY growth of 29%, driven by

40% growth in digital paperless,

offset by 10% decline in digital

print

• Volume of transactions drive

scale and demand on platform

Transactions Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018

QoQ 15% 0% 24% -2% 6%

YoY 48% 48% 45% 40% 29%

795 793

987 971 1,027

Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018

(M)

Digital Print Digital Paperless

1.0B



Operating Expenses

25

• QoQ slight improvement in Non-

GAAP OpEx expense due to

continued operating efficiencies and

cost management, offset by FICA

reset for 2018 and seasonally lower

revenue in Q1.

• Q1 2018 Non-GAAP opex was

$39.4M, a decrease over Q4 and Q1

2017

• Significant YoY margin improvement

due to 20% revenue growth, coupled

with continued cost management and

efficiencies

Non-GAAP operating expenses exclude stock-based compensation, any

net change in fair value of escrowed shares and contingent consideration,

amortization of acquired intangible assets, enterprise resource planning

“ERP” software implementation costs, acquisition related costs, and

restructuring charges. A reconciliation table of the period presented can

be found in the Appendix section of this presentation.

Q1 FY18 GAAP Op Ex: $55.2M compared to $44.5M in Q4 FY17

Q1 FY18 Non-GAAP Op Ex: $39.4M compared to $40.1M in Q4 FY17

31%25% 25%

15%

11% 12%

10%

7% 8%

56%

43%45%

Q1-2017 Q4-2017 Q1-2018

Non-GAAP

Sales & Marketing Research & Development Gen'l and Administrative



Adjusted EBITDA

26

Adjusted EBITDA, a non-GAAP financial measure, is net loss adjusted for

stock-based compensation, change in fair value of escrowed shares and

contingent consideration, net, other (income) expense net, provision for

(benefit from) income taxes, depreciation, amortization and other, which

includes: enterprise resource planning ("ERP") software implementation

costs, certain acquisition related costs and restructuring charges. A

reconciliation table of the periods presented can be found in the Appendix

section of this presentation.

• Q1 FY18 increased 55% YoY

primarily based on increased

revenues and balanced expense

approach

• Margin expansion expected to build

throughout the year

$7.7

$13.0 $12.5

$13.9

$11.9

Q1-2017 Q2-2017 Q3-2017 Q4-2017 Q1-2018

Margin 11% 17% 15% 15% 14%

($M)



27

Guidance

FY2018

Q2 Full Year

Low High Low High

Revenue ($M) $87.0 $90.0 $379.0 $394.0

YoY Growth 17% 21% 18% 22%

Q2 Full Year

Adjusted EBITDA ($M) $12.0 $14.0 $65.0 $73.0

Margin 14% 16% 17% 19%



Thank You



AppendixScreen Shots & Reconciliation Tables



Digital Drives Efficiency in Trade Spend

Offline Non-Targeted Digital & Targeted

Customer Type $ Spent# of Boxes

Sold$ Spent

# of Boxes

Sold

Always buys Flakes $1 1 $0 1

Sometimes buys Flakes $1 1 $0.50 1

Sometimes buys Flakes $1 1 $0.50 1

Never buys Flakes $0 0 $2 1

Total $3 3 $3 4



31

Coupons.com



32

Digital Coupons

in Retailers’

Marketing and

Merchandising

Programs



33

Personalized Email

Marketing



34

Personalized Digital

Circular



35

Use screen shots from Risa

Shopper Marketing



36

Reconciliation of Non-GAAP Operating Expense

Q1 FY 17 Q4 FY 17 Q1 FY 18

Revenues 72,579$ 93,093$ 86,766$

Sales and marketing expenses 23,837 25,377 23,830

(less) Stock-based compensation (1,332) (1,763) (1,600)

(less) Amortization of acquired intangible assets — (101) (99)

(less) Restructuring charges — — (608)

Non-GAAP Sales and marketing expenses 22,505$ 23,513$ 21,523$

Non-GAAP Sales and marketing percentage 31% 25% 25%

Research and development 13,120 11,860 12,626


(less) Restructuring charges — — (360)

Non-GAAP Research and development expenses 11,109$ 9,801$ 10,439$

Non-GAAP Research and development percentage 15% 11% 12%

General and administrative expenses 11,893 12,726 11,392


(less) ERP software implementation costs (158) (199) (49)

(less) Acquisiton related costs (714) — —

(less) Restructuring charges — (2,125) (115)

Non-GAAP General and administrative expenses 7,059$ 6,817$ 7,399$

Non-GAAP General and administrative percentage 10% 7% 8%

Non-GAAP Operating expenses* 40,673$ 40,131$ 39,361$

Non-GAAP Operating expense percentage 56% 43% 45%

QUOTIENT TECHNOLOGY INC.

RECONCILIATION OF OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

(Unaudited, in thousands)

* Non-GAAP operating expenses excludes stock-based compensation, amortization of acquired intangible assets,

restructuring charges, acquisition related costs, and enterprise resource planning ("ERP") software implementation

costs.



37

Reconciliation of Net Loss to Adjusted EBITDA

Q1 FY 17 Q2 FY 17 Q3 FY 17 Q4 FY 17 Q1 FY 18

Net income (loss) (2,674)$ (5,758)$ (10,827)$ 4,182$ (11,357)$

Adjustments:

Stock-based compensation 7,756 8,066 8,480 7,950 7,796

Depreciation, amortization and other (1)

5,404 6,608 5,496 6,883 5,619

Change in fair value of escrowed shares and contingent consideration, net (2,585) 3,900 9,700 (5,500) 7,350

Interest expense — — — 1,589 3,308

Other (income) expense, net (127) (134) (276) (391) (938)

Provision for (benefit from) income taxes (97) 270 (107) (768) 102

Total adjustments 10,351$ 18,710$ 23,293$ 9,763$ 23,237$

Adjusted EBITDA (1)

7,677$ 12,952$ 12,466$ 13,945$ 11,880$

Adjusted EBITDA Margin (2)

11% 17% 15% 15% 14%

(2) Adjusted EBITDA margin is the ratio of Adjusted EBITDA and Revenues.

QUOTIENT TECHNOLOGY INC.

RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA AND TRANSACTION DATA

(Unaudited, in thousands)

(1) Adjusted EBITDA, a non-GAAP financial measure, is net income (loss) adjusted for stock-based compensation, change in fair value of escrowed shares and contingent

consideration, net, interest expense, other (income) expense, net, provision for (benefit from) income taxes and depreciation, amortization and other, which includes: enterprise resource

planning ("ERP") software implementation costs and certain acquisition related costs of $0.2 million and $0.7 million, respectively, during Q1 FY 17; ERP software implementation costs,

certain acquisition related costs and restructuring charges of $0.4 million, $0.8 million and $1.3 million, respectively, during Q2 FY 17; ERP software implementation costs and certain

acquisition related costs of $0.5 million and $0.4 million, respectively, during Q3 FY 17; ERP costs and restructuring charges of $0.2 million and $2.1 million, respectively, during Q4 FY

17; and ERP software implementation costs and restructuring charges of $0.05 million and $1.2 million, respectively, during Q1 FY 18.

Copyright © 2018 Quotient Technology Inc. All Rights Reserved. Quotient, the Coupons.com logo and the Quotient logo are trademarks of Quotient Technology Inc. All other trademarks,

service marks, logos, and company or product names are the property of Quotient Technology Inc. (or its subsidiaries) or their respective owners. Please Do Not Copy or Distribute.

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