X0306 4 2016-02-08 0 0001433195 APPFOLIO INC APPF 0001646303 STAD MARC ONE LETTERMAN DRIVE BUILDING C, SUITE 3950 SAN FRANCISCO CA 94129 0 0 1 0 0001621298 DRAGONEER GLOBAL FUND II, L.P. ONE LETTERMAN DRIVE BUILDING C, SUITE 3950 SAN FRANCISCO CA 94129 0 0 1 0 Class A Common Stock 2016-02-08 4 P 0 76200 12.89 A 1205307 I Refer to footnote Class A Common Stock 2016-02-09 4 P 0 34960 12.93 A 1240267 I Refer to footnote Class A Common Stock 2016-02-10 4 P 0 8100 12.94 A 1248367 I Refer to footnote Mr. Stad is the managing member of Dragoneer Global GP II, LLC ("Global GP II"), which is the general partner of Dragoneer Global Fund II, L.P. ("Dragoneer Global Fund II" and together with Global GP II, the "Dragoneer Entities"), which acquired the shares of Class A Common Stock reported in the table above. By virtue of the foregoing relationships, Mr. Stad and each of the Dragoneer Entities may be deemed to share beneficial ownership of the securities reported in the table above. Mr. Stad and each of the Dragoneer Entities disclaims beneficial ownership of the reported securities, except to the extent of their respective pecuniary interest therein. /s/ Mark Stad 2016-02-10 Dragoneer Global Fund II, L.P., By Dragoneer Global GP II, LLC, its general partner, /s/ Pat Robertson 2016-02-10