X0206 3 2014-02-27 0 0001361113 VARONIS SYSTEMS INC VRNS 0001601182 Pitango Venture Capital Principals Fund IV, L.P. 540 COWPER ST., SUITE 200 PALO ALTO CA 94301 0 0 1 0 0001287224 Pitango Venture Capital Fund IV, L.P. 540 COWPER ST., SUITE 200 PALO ALTO CA 94301 0 0 1 0 Common Stock, par value $0.001 per share 71256 D Common Stock, par value $0.001 per share 3299725 I Directly owned by Pitango Venture Capital Fund IV, L.P. See Explanation of Responses Series B Convertible Preferred Stock Common Stock 2459452 I Directly owned by Pitango Venture Capital Fund IV, L.P. See Explanation of Responses Series B Convertible Preferred Stock Common Stock 53111 D Series C Convertible Preferred Stock Common Stock 376499 I Directly owned by Pitango Venture Capital Fund IV, L.P. See Explanation of Responses Series C Convertible Preferred Stock Common Stock 8130 D Series D Convertible Preferred Stock Common Stock 334221 I Directly owned by Pitango Venture Capital Fund IV, L.P. See Explanation of Responses Series D Convertible Preferred Stock Common Stock 7217 D Series E Convertible Preferred Stock Common Stock 86924 I Directly owned by Pitango Venture Capital Fund IV, L.P. See Explanation of Responses Series E Convertible Preferred Stock Common Stock 1877 D Pitango V.C. Fund IV, L.P. is the General Partner of Pitango Venture Capital Fund IV, L.P. and Pitango Venture Capital Principals Fund IV, L.P., with its own General Partner being Pitango G.P. Capital Holdings Ltd., an Israeli company, owned indirectly by six individuals. These six individuals share voting and dispositive power of the Isuer's shares but none has sole voting or dispositive power of the Issuer's shares. Each Reporting Person disclaims beneficial ownership of securities held by any other entity except to the extent of any indirect pecuniary interest therein (within the meaning of Rule 16a-1 of the Exchange Act) in an indeterminate portion of the securities beneficially owned by such other entity. Each share of preferred stock of the Issuer is (i) convertible at any time into shares of the Issuer's common stock on a one-for-one basis, and have no expiration date, and (ii) will automatically convert into shares of the Issuer's common stock immediately prior to the closing of the Issuer's initial public offering. Rona Segev-Gal, a member of the Board of Directors of the Issuer, is a General Partner at Pitango Venture Capital Fund IV, L.P. Pitango Venture Capital Principals Fund IV, L.P., by /s/ Zeev Binman and /s/ Bruce Crocker, authorized signatories 2014-02-27 Pitango Venture Capital Fund IV, L.P., by /s/ Zeev Binman and /s/ Bruce Crocker, authorized signatories 2014-02-27