FP2020 ANNUAL GENERAL MEETING

29 January 2021

COVID-19 STATISTICS IN MYANMAR

2

Covid-19 daily incidence rate in Myanmar as of 15 Jan 2021

Timeline of the policy and coordination measured by Myanmar government for Covid-19 second Wave

Aug 2020

• Second Wave started in

Rakhine state.

• Stay-home restriction was

implemented again in all

townships in Rakhine state.

• State schools, private schools

and monastic schools were

temporary closed.

Sept2020

Oct2020

• The Government had further

expanded and extended

precautionary restriction

measures in Yangon Region

and other areas.

• CMP factories, workplaces and

SMEs are allowed to resume if

they meet Grade A prevention

guidelines in the Covid-19

containment measures.

Nov2020

• Re-enforcement of

lockdown in Yangon and

Rakhine state and 11

townships in Mon,

Ayeyarwaddy, Bago and

Mandalay.

• Antigen (rapid) testing

began nationwide.

• The existing COVID-19 prevention

measures were extended,

including the temporary

suspension of international and

domestic flights.

• Mandatory swab tests or

quarantine are required for inter-

state travels, including for frontline

humanitarian workers.

Dec2020

• The domestic flights were

allowed to resume if they

meet the necessary

conditions.

• Authorities commenced

discussions to purchase the

vaccines and formed a team

of medical professionals to

oversee the administration

and storage and injection of

the vaccines.

Jan 2021

• The Government ordered 30

million doses of COVID-19

vaccines from the Serum

Institute of India, the world’s

largest vaccines manufacturer.

• The vaccination is expected to

start in February as soon as they

arrive in country.

Covid-19 total cases, recovered and deaths per 1,000 persons in population in ASEAN Countries as of 15 Jan 2021

0

500

1000

1500

2000

2500

27-Mar 27-Apr 27-May 27-Jun 27-Jul 27-Aug 27-Sep 27-Oct 27-Nov 27-Dec

New Cases New Death

Source : https://ourworldindata.org/coronavirus-source-data , Jonhs Hopkins University and Southeast Asian Health Ministries

10.528

4.971 4.754 3.346

2.508 0.4060.168 0.027 0.016 0.006

0.005 0.019 0.094 0.096 0.055 0.007 0.001 0.000 0.000 0.000

10.475

3.753 4.386

2.714

2.199 0.392 0.128 0.024 0.014 0.006

Singapore Malaysia Philippine Indonesia Myanmar Brunei Thailand Cambodia Vietnam Laos

Cases Deaths Receovered

Source : The Myanmar Times, WFP Myanmar COVID-19 Situation Report #10 (5 October 2020) and #12 (16 November 2020), UCAnews, The Ayeyarwaddy

s

MYANMAR ECONOMIC GROWTH IN 2021 FORECASTED

HIGHEST AMONGST THE REGION

1.54

0.3

0.21

1.12

0.01 0.35

1.35 1.12

1

2.62

FY18/19 FY19/20

Transports and Communication Real Estate

Oil and gas Manufacturing

Others

Foreign investment approval accelerated in FY19/20 (US$ in billions)

Foreign Direct Investment

Source : https://data.adb.org/dataset/gdp-growth-asia-and-pacific-asian-development-outlook, https://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/yearly_sector_14.pdf

6.5%

6.5%

6.3%

6.0%

5.9%

5.3%

4.5%

4.5%

4.5%

3.3%

3.0%

Malaysia

Philippines

Vietnam

Myanmar

Cambodia

Indonesia

Lao PDR

Singapore

Thailand

Timor-Leste

Brunei

ADB GDP Growth Rate, 2021 forecast (% per year)

Myanmar GDP to grow at 6.0% in 2021

3

ACCELERATING DIGITAL ADOPTION

Digital Adoption Across Business Sectors

Stay-at-Home restrictions resulted in most of the companies across various business sectors adopting online/digital platforms.

Firms adopting online/digital platforms – by sector

5%

26%24%

17%19%

17%

40%43%

23%

32%

10%

38%

29%

34%

28%

Agriculture Manufacturing Retail and Wholesale Service Total

May September October

Source : https://www.statista.com/outlook/296/182/digital-payments/myanmar#market-users, http://documents1.worldbank.org/curated/en/906171608086222905/pdf/Myanmar-Economic-Monitor-Coping-with-COVID-19.pdf

Embracing financial technology (fintech) services where

banking penetration remains below the regional average.

7.2

9.6

11.5

1.7

3.5

4.9

2018 2019 2020

Mobile POS Payments Digital Commerce

Mobile POS Payments Users and Digital Commerce Users

2019 vs 2020 (in millions)

Growing Digital Users

4

12M-SEPT2020 KEY FINANCIAL HIGHLIGHTS1

Statement of Income 12M-Sept2019(US$ million)

12M-Sept2020(US$ million)

Revenue 91.0 103.4

Cost of sales (45.7) (70.3)

Gross profit 45.3 33.1

Other gains or losses 9.0 (11.6)

Expenses:-

Administrative (50.3) (55.2)

Finance (29.6) (21.6)

Share of profits/(losses) of joint ventures

(0.9) (1.8)

Share of losses of associated companies

(8.2) (5.5)

Loss before income tax (34.7) (62.6)

Income tax expense (2.4) (3.1)

Net loss (37.1) (65.7)

Core Operating EBITDA (excluding fair value losses/(gains) and impairment losses)

4.5 2.0

• Revenue increased 13.6% driven by a strong recovery in Yoma

Land’s development business and higher revenue in Yoma

Financial Service and Yoma F&B despite the strict government

measures to limit the spread of COVID-19 in April, May and

September 2020.

• Gross profit declined by 26.9% mainly due to lower operator fee

from the Real Estate Services segment, and lower gross profit

margins from Yoma F&B and Real Estate Development

businesses.

• Other losses were mainly due to the (i) fair value losses relating to

the Group’s annual valuation exercise for its investment

properties as a result of the weakening of USD against MMK2 and

(ii) impairment losses from the Group’s agriculture investments.

• Expenses declined by 3.9% mainly due to cost control measures

taken since the onset of the COVID-19 pandemic and a

meaningful reduction in overall finance expenses.

• Excluding fair value losses/(gains) and impairment losses, core

operating EBITDA was US$2.0 million.

1The figure presented in the 12M-Sept2020 KEY FINANCIAL HIGHLIGHTS are unaudited.2In accordance with the fair value model that the Group has adopted under SFRS(I) 1-40, investment properties are remeasured atthe end of each financial year end. Historically, an annual valuation exercise was performed on 31 March and fair value adjustmentswere taken in the fourth quarter of each financial year. Given the change in financial year end for FPSept2020, the Group’s annualvaluation exercise was performed on 30 September 2020 for audit and reporting purposes.. 5

12M-SEPT2020 KEY FINANCIAL HIGHLIGHTS1

205.6315.3 305.4

861.91,003.7 Pro-forma

1,145.7

23.9%

31.4% 27.8%

0%

5%

10%

15%

20%

25%

30%

35%

0

200

400

600

800

1000

1200

1400

Sept 2018 Sept 2019 Sept 2020

US$millionNet Debt Total Capital Gearing Ratio

The Group went through a de-leveraging exercise with the repayment of certain borrowings from the proceeds

from the sale of its investment in edotco in November 2019 and the first tranche of the Ayala placement in

December 2019. This effect was partially mitigated by an increase in project borrowings for Yoma Central of

US$67.5 million.

Pro forma: 26.7%3

3Net gearing ratio assuming completion of the second tranche of Ayala’s share placement which would have increased the total capital of the Group. 6

I. AYALA CORPORATION: STRATEGIC PARTNERSHIP

7

8Source: Bloomberg, World Development Indicators

THE PHILIPPINES’ ECONOMIC GROWTH A USEFUL

REFERENCE FOR MYANMAR’S DEVELOPMENT

AYALA CORPORATION INVESTING AT 45 CENTS PER SHARE

9

▪ Re-affirms Yoma’s growth potential and prospects.

▪ Ayala Corporation is one of the oldest and largest

conglomerates in the Philippines.

▪ Has a portfolio of leading businesses that overlaps with

many of Yoma Strategic’s core business pillars and

common partners across various business units,

e.g., Tokyo Century, etc.

▪ Ayala Corporation’s President and COO, Mr. Fernando

Miranda Zobel de Ayala, joined Yoma Strategic’s board

as a Non-Independent Non-Executive Director.

Source: https://www.ayala.com.ph/

Investment of up to US$155 million for

a 20% stake in Yoma Strategic

II. BRIDGING THE FINANCIAL INCLUSION GAP

10

12M-Sept2019 12M-Sept2020

US$2.7million

US$6.1 million

WAVE MONEY RECORDED STRONG GROWTH

• Share of profit from the 34% Wave

Money stake grew significantly.

• On 13 October 2020, Yoma Strategic

acquired an additional 10% stake in

Wave Money and now holds a 44%

stake in Wave Money.

• Yoma Strategic intends to be the

controlling shareholder of Wave

Money upon the completion of the

acquisition of the entirety of Telenor

Group’s 34.2% stake for US$76.5

million4.

• The long stop date to complete the

proposed acquisition has been

extended to 31 March 2021.

4Yoma Bank, an existing 5% shareholder in Wave Money, will retain its 5% stake post acquisition of the Telenor Group’s stake in Wave Money.

11

12

WAVE MONEY TARGETS TO GROW ITS DIGITAL MAU TO

11.2 MILLION BY 2024

Ant Group’s expertise in building mobile payment platforms will accelerate

Wave Money’s digital journey

Source: Wave Money

III. A RESURGENCE IN REAL ESTATE

13

14

FOR THE ASPIRING MIDDLE CLASS

City Loft @ StarCityRecorded sales/bookings of more than 80% out of 791

total launched units as at 30 September 2020.

City Loft WestA 3,000-unit5 development with Phase 1 consisting of 7

towers and approximately 1,800 units. Construction is

expected to commence in 2021.

145Subject to finalisation

FIRST LANDED HOUSING AT STARCITY

27 of 32 units had been booked/sold as at 30 September of 2020.15

STAR HUB: HIGH QUALITY OFFICES IN A SUBURBAN LOCATION

• First Star Hub in Star City with a GFA of c.290,000 square feet5.

• Received long-term leasing commitments for more than 50% of the office space.

• Targeted completion at the end of 20215.

16

• 2.44 million square feet development comprising Grade A Offices, hotels, luxury residences and retail space.

• GFA of rental properties to increase more than 5X once Yoma Central becomes operational.

COMPLETION IN 2022 WILL SIGNIFICANTLY GROW RECURRING

REVENUE STREAMS

17

End of Presentation