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CorporatePresenta5onSeptember 2017

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TheSafeguardAdvantages

§  StrongPor<oliooftech-enabledcompaniesacrossseveralver2calswithfullvaluemuchhigherthanreflectedincurrentshareprice

§  TalentedTeamwithdeepdomainexper2seandopera2ngexperience

§  Flexible,Mul5-StageCapitalDeploymentApproachthatisnotconstrainedbythetypicalLimitedPartnerfundstructure

§  ScalableOpera5ngModeltoaccommodatealargerporHolioofcompanies

§  ExtensiveNetworkwithaccesstoearly-andgrowth-stagetechnologyopportuni2esincludingEnterprises,Advisors,AcceleratorsandUniversi2es

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LeadershipTeam

StephenT.ZarrilliPresidentandCEO

JeffreyB.McGroartySVPandCFO

BrianJ.SiskoEVP,ManagingDirectorandCOO

Mar5naF.AufieroSVPandManagingDirector

GaryJ.Kurtzman,MDSVPandManagingDirector

ErikB.RasmussenSVPandManagingDirector

StevenJ.Grenfell,CPASVPandManagingDirector,Opera2ons

JohnE.ShaveIII,IRCSVP,InvestorRela2onsandCorporateCommunica2ons

ScoWA.Snyder,PhDSVP,ManagingDirectorandCTIO

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CapitalDeploymentObjec5ves

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TargetMarkets

§ eCommercewillbe$523BinU.S.and$4Tworldwideby2020[Source:eMarketer]

§ Web-influencedretailsaleswillbe$1.6Tby2020[Source:EY]

§ Digitaladspendwillbe$333Bby2020[Source:eMarketer]

§ Personaliza2oneconomywillbe$97Bby2020[Source:Accenture]

§ FinTechtocapture10%to40%ofbankingrevenueby2025[Source:McKinsey]

§ $12BinvestedgloballyinFinTech,approx.50%ofthatinU.S.[Source:CBInsights]

§ CorporateVentureArmsofFinancialServiceCompaniescon2nuetobestronginvestors

§ $3TU.S.market(18%ofGDP),approx.1/3tobewaste[Source:CMS]

§ HealthcareITmarkettosurpass$230Bby2023[Source:GlobalMarketInsights]

§ Chronicdiseaseswillaffect164MAmericans(49%)ofpopula2onby2025[Source:RANDCorporaCon]

HEALTHCARE DIGITALMEDIA

FINANCIALSERVICES

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MarketOpportunityinEmergingTechnologies

§ IoTwillhavepoten2aleconomicimpactof$3.9Tto$11.1Tby2025[Source:McKinsey]

§ IoTdeviceswillreach+46Bin2021[Source:Juniper]

§ B2BspendingonIoTtechnologieswillreach$267Bby2020[Source:BostonConsulCngGroup]

§ BigData/Analy2csmarketwillbe$203Bby2020(11.7%CAGR)[Source:IDC]

§ AI-basedsystemsmarketwillgrowfrom$8Bin2016to$47Bin2020[Source:IDC]

§ Allmajortechgiantsareinves2ngheavily(i.e.Google,IBM,Microsog,Amazon,Facebook,Apple,Baidu)

§ Cyber-securitymarketwillgrowfrom$105Bin2015to$182Bin2021(9.5%CAGR)[Source:ZionMarketResearch]

§ Globalcyber-securityspendingwillexceed$1Tfrom2017to2021[Source:CybersecurityVentures]

§ BlockchainforEnterpriseApplica2onsMarkettoreach$19.9Bby2025[Source:TracCca]

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PartnerCompanies:Overview

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PartnerCompanies:ByRevenueStage

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AggregatePartnerCompanyRevenue

9

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PartnerCompany:TriceMedical

Ini5alCapitalDeployed July2014

TotalCapitalDeployed $10.2M

SFEPrimaryOwnership 25%

Headquarters KingofPrussia,PA

RevenueStage Ini5alRevenue

ElevatorPitch Pioneeredandevolvedafullyintegratedcamera-enabledtechnologythatprovidesaclinicalsolu2onop2mizedforthephysician’soffice.

Partnerships/Customers OpenClinicaEnterprise,TikaMobile

MarketOpportunity

Addressablemarketopportunityisapproximately$10B,including32Mofficevisitsforrelatedkneeandshoulderpainand8M+MRIsannuallyintheU.S.alone.

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PartnerCompany:Transac5s

Ini5alCapitalDeployed August2014

TotalCapitalDeployed $14.5M

SFEPrimaryOwnership 24%

Headquarters NewYork,NY

RevenueStage Expansion

ElevatorPitch Leadingproviderofelectronicbillingandpaymentsolu2ons.

Partnerships/Customers

CapitalOneFinancialCorpora2on(NYSE:COF),FighThirdBancorp(NASDAQ:FITB),PNCFinancialServicesGroup(NYSE:PNC),TDBankGroup,Walletron,WellsFargo&Company(NYSE:WFC).

MarketOpportunity

Fewerthan25%ofbillsarepresentedelectronicallyintheU.S.Thechannel-orientedTransac2smodelfeaturesup-to-dateSaaSinfrastructureandisposi2onedtogrowwithanEBPPmarketthatisexpandingatacompoundannualrateof16%,accordingtoa2013reportbymarke2ngconsultantLatenteGroup.

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PartnerCompany:MediaMath

Ini5alCapitalDeployed July2009

TotalCapitalDeployed $25.5M

SFEPrimaryOwnership 21%

Headquarters NewYork,NY

RevenueStage HighTrac5on

ElevatorPitchGlobaltechnologycompanythatisleadingthemovementtorevolu2onizetradi2onalmarke2nganddrivetransforma2veresultsformarketers.

Partnerships/Customers Facebook,IBM,iSocket,Microsog,Oracle,TimeInc.andYahoo!

MarketOpportunity

DigitaladspendingisexpectedtogrowataCAGRof14%between2015and2018accordingtoeMarketer.

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PartnerCompanyHoldingsat6/30/17

Stage Category Acquisition Year

Primary Ownership%

Carrying Value Cost

Partner Companies: (in millions) (in millions)AdvantEdge Healthcare Solutions High Traction Healthcare 2006 40% $5.0 $16.3Aktana Initial Revenue Healthcare 2016 25% 5.6 9.7Apprenda Expansion Other 2013 29% 9.4 22.1Brickwork Initial Revenue Digital Media 2016 20% 3.8 4.2Cask Data Initial Revenue Other 2015 31% 7.1 11.6CloudMine Initial Revenue Healthcare 2015 47% 4.3 7.5Clutch Holdings Expansion Digital Media 2013 43% 9.6 16.3Full Measure Education Initial Revenue Digital Media 2015 42% 7.2 11.0Good Start Genetics High Traction Healthcare 2010 30% - 19.0Hoopla Software Initial Revenue Digital Media 2011 26% - 4.8InfoBionic Initial Revenue Healthcare 2014 40% 2.6 18.5Lumesis Initial Revenue Financial Services 2012 44% 1.9 6.3MediaMath High Traction Digital Media 2009 21% 4.3 25.5meQuilibrium Initial Revenue Healthcare 2015 32% 4.1 8.0Moxe Health Initial Revenue Healthcare 2016 32% 4.3 4.5NovaSom High Traction Healthcare 2011 32% 1.8 23.1Pneuron Initial Revenue Financial Services 2013 35% - 8.5Prognos (fka Medivo) Expansion Healthcare 2011 35% 4.9 11.6Propeller Health Initial Revenue Healthcare 2014 24% 7.9 14.0QuanticMind Initial Revenue Digital Media 2015 23% 6.7 9.8Sonobi Expansion Digital Media 2015 22% 6.2 8.4Spongecell Expansion Digital Media 2012 23% 7.8 18.0Syapse Initial Revenue Healthcare 2014 26% 4.4 13.3T-REX Initial Revenue Financial Services 2016 24% 5.6 6.0Transactis Expansion Financial Services 2014 24% 10.1 14.5Trice Medical Initial Revenue Healthcare 2014 25% 5.1 10.2WebLinc Expansion Digital Media 2014 38% 8.8 14.0Zipnosis Initial Revenue Healthcare 2015 25% 4.8 7.0Total TOTAL: $143.3 $343.7

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SuccessStories

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NOLsandCapitalLossCarryforwards

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EquityIncen5veCompensa5on

§  KeyAqributes•  Structuredtoalignwithshareholderinterest

•  Consistentwithcarriedinterestmethodology

•  Two-thirdsofves5ngbasedonperformancecriteria

§  PerformanceVes2ng•  Uponachievementofcash-on-cashreturnthresholds(2.0x-3.0x)

onpoolsofcapitaldeployed

§  InsiderOwnership•  Ownershiprequirementsof2x-4xbasesalaryforseniormanagement

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WhyOwnSafeguard(NYSE:SFE)?

§  Accesstoearly-andgrowth-stagetechnologycompanies

§  SFEcurrentlytradesatsignificantdiscounttonetassetvalue

§  Fullvalueofpartnercompaniesnotreflectedinshareprice

§  Teamhasdeepdomainexper2seandopera2ngexperience

§  Strongalignmentofinterestswithshareholders

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JohnE.ShaveIIISENIORVICEPRESIDENT,INVESTORRELATIONS&CORPORATECOMMUNICATIONS

P610.975.4952Ejshave@safeguard.comRequestaMee5ng:www.safeguard.com/RequestAMee2ng

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Statementscontainedinthispresenta2onthatarenothistoricalfactsareforward-lookingstatementswhichinvolvecertainrisksanduncertain2esincluding,butnotlimitedto,risksassociatedwithourabilitytomakegooddecisionsaboutthedeploymentofcapital,thefactthatourpartnercompaniesmayvaryfromperiodtoperiod,oursubstan2alcapitalrequirementsandabsenceofliquidityfromourpartnercompanyholdings,fluctua2onsinthemarketpricesofourpubliclytradedpartnercompanyholdings,compe22on,ourinabilitytoobtainmaximumvalueforourpartnercompanyholdings,ourabilitytoaqractandretainqualifiedemployees,marketvalua2onsinsectorsinwhichourpartnercompaniesoperatemaydecline,ourinabilitytocontrolourpartnercompanies,ourneedtomanageourassetstoavoidregistra2onundertheInvestmentCompanyActof1940,andrisksassociatedwithourpartnercompanies,includingthefactthatmostofourpartnercompanieshavealimitedhistoryandahistoryofopera2nglosses,faceintensecompe22onandmayneverbeprofitable,theeffectofeconomiccondi2onsinthebusinesssectorsinwhichourpartnercompaniesoperate,andotheruncertain2esasdescribedinourfilingswiththeSecuri2esandExchangeCommission,includingourAnnualReportonForm10-K.Asaresultoftheseandotherfactors,theCompany’spastfinancialperformanceshouldnotbereliedonasanindica2onoffutureperformance.

Safeguarddoesnotassumeanyobliga2ontoupdateanyforward-lookingstatementsorotherinforma2oncontainedinthispresenta2on.

AlldatacurrentasofJune30,2017.

Forward-LookingStatements