June 06, 2019

Laurence Sterling
Multos International Pte Ltd
1 Philip St, #03-01 Singapore
Singapore,
SG048692

RE: Visa Reference Number: LBMLTS03745

Dear Laurence Sterling,

We are pleased to advise you that Visa has approved the product identified by the above Visa Reference
Number ("the Product") for inclusion in Visa's Approved Products List subject to the conditions set forth
herein:

When granted, Visa approval is provided to ensure certain security and operational characteristics
important to Visa's systems as a whole, but Visa approval does not under any circumstances include any
endorsement, guarantee or warranty regarding the functionality, quality, security or performance of any
particular product or service. Visa does not warrant any products or services provided by other parties.
Visa approval does not under any circumstances include or imply any product warranties from Visa,
including, without limitation, any implied warranties of merchantability, fitness for purpose, or non–
infringement, all of which are expressly disclaimed by Visa.

Specifically, Visa has approved the following product

PRODUCT
Manufacturer: Multos International Pte Ltd

Product Name: Multos VSDC R5 on ML4-P18 CoM v1.1

Product Configuration: ID1 Card

Interface(s) Supported: Contact Interface: T=0

Chip: M7864 - SLC32PD version H13

Operating System: ML4-P18 v1.2

Visa Payment Applet: VSDC R5 v2.0

EMVCo IC Certificate Number: ICCN0237

Antenna Manufacturer: Linxens Group / ACT / CET Int

Antenna Identification Number: Wire booster antenna Prelam for Infineon

Inlay Identification Number: Wire booster antenna Prelam for Infineon

Approval Effective Until: December 09, 2028

Visa requires limited testing to ascertain a Product's compliance with applicable specifications and may
also require interoperability testing with other approved products. Visa's limited testing program is not
designed to establish the functionality of your approved Product in all potential conditions in which it
may be used. Visa's approval does not in any circumstances include or imply any guarantees, assurances
or warranties that the approved Product will operate in all possible settings or in connection with any
other approved product.

Visa's approval is limited to the Product supporting the following:

EVALUATED SPECIFICATION(S)
• EMV Contact Level1 Specification: 4.3
• Visa Integrated Circuit Card Specification: 1.5.4
• EMV Contactless Level1 Specification: 2.6
• Visa Contactless Payment Specification: 2.1.3
• Multi-Access Specification: 2.1

SCOPE OF APPROVAL
This Product is approved for issuance anywhere in the world.

The issuance of this Approval Letter does not provide an allowance of the card construction per ISO
7810 & 7811-6, or the Visa Product Brand Standards, as required by Global Design & Innovation (Brand).
Information regarding this separate and required qualification process can be found in the Visa Product
Brand Standards or by contacting cardinnovation@visa.com.

This product will remain on Visa's approved products list for its entire 'usage period', which is twelve
(12) years starting from the date the card's chip was approved by EMVCo (as indicated by the date on
the chip's ICCN). At the end of the usage period, the card product will be removed from the Visa
approved product list. Vendors may produce and ship the product at any point during the usage period.
Issuers using this product must ensure that all cards based on it have expired or been cancelled by
December 09, 2028. No usage of the product, whether for new issuance or by existing cards in the field,
is permitted beyond this date. Any remaining stock of the product, held by a vendor, issuer or other
entity must be destroyed or put beyond use on this date. Please refer to Visa Chip Bulletin #36 for
further information.
Loading of sensitive data and code into Flash memory must be done in a secure, controlled and Visa
approved environment. Latest security guidance must be followed.

This card product may support various sizes of non-volatile memory. Please contact the vendor for
further details.

CONDITIONS
Visa only requires limited testing and the onus is on the manufacturer of the Product to conduct testing
to ensure that the Product interoperates with other Visa approved products and that environmental
issues do not adversely affect performance of the Product.

Visa's approval only applies to products that are identical to the Product that was the subject of the
testing referenced in this letter. A product should not be considered approved by Visa, nor promoted as
approved, if any aspect of the product is different from the Product that was tested, even if the product
conforms to the basic Product description contained in this letter. For example, if a product contains
chips, applications or operating systems that have the same name or model number as those tested
previously and given a Letter of Approval, but in fact are not identical to those tested previously and
given a Letter of Approval, the product should not be considered or promoted as approved by Visa.

Further, to retain Visa's approval, all products must be produced at production sites that are approved
by Visa.

All products submitted for testing and approval are required to be submitted pursuant to a Visa
International Service Association Approval Services Testing Agreement. The approval granted in this
letter is subject in all respects to the terms and conditions of the Visa International Service Association
Approval Services Testing Agreement.

The issuance of this letter is conditioned upon all necessary agreements having been executed, including
without limitation, the applicable license agreements with Visa and this approval letter shall be of no
force and effect unless such agreements have been executed contemporaneously with or prior to the
issuance of this letter.

The issuance of this letter is further conditioned upon LBGEMA03408A maintaining its approval from
Visa. Upon the expiration or revocation of the approval granted to LBGEMA03408A, Visa may revoke
this approval.

Approval granted by Visa does not supersede additional testing requirements as may be imposed by
national testing bodies, financial institutions, network services providers, Visa Region Specific
Requirements or other customers or requirements imposed by the Visa Product Brand Standards and/or
Visa Global Brand Management. The Manufacturer is encouraged to ensure that testing requirements
from all relevant parties have been met and approvals granted prior to sale or installation of the
product.

Visa's approval is granted solely in connection with the product tested and to the submitting vendor.
Such approval may not be assigned, transferred or sublicensed, either directly or indirectly, by operation
of law or otherwise. Only those product manufacturers receiving a Visa approval for a product may
claim that they have the approval.
Visa may revoke the approval at any time. Because this approval may be revoked at any time, no third
party should rely on this letter at any time without first confirming the continued effectiveness of the
approval with Visa's Approval Services. Unless revoked earlier, Visa's approval of the Product shall
remain in effect until December 09, 2028. Visa reserves the right to modify the terms or duration of this
approval at its sole discretion to accommodate business or security requirements. Even though Visa has
approved this Product, as described in this letter, the manufacturer of each product shall be responsible
for compliance with all applicable specifications and for all liabilities resulting from the use or
distribution of the product.

You may communicate to third parties that the Product is Visa approved product provided, however,
that you also communicate any of the limitations on Visa's approval described above under the heading,
(a) Scope of Approval, (b) Comments and/or Specification Deviation(s), (c) Condition(s), and all written
communications referring to Visa approval shall contain the following legend:

"When granted, Visa approval is provided by Visa to ensure certain security and operational
characteristics important to Visa's systems as a whole, but Visa approval does not under any
circumstances include any endorsement or warranty regarding the functionality, quality or performance
of any particular product or service. Visa does not warrant any products or services provided by third
parties. Visa approval does not under any circumstances include or imply any product warranties from
Visa, including, without limitation, any implied warranties of merchantability, fitness for purpose, or
non–infringement, all of which are expressly disclaimed by Visa. All rights and remedies regarding
products and services which have received Visa approval shall be provided by the party providing such
products or services, and not by Visa."

Sincerely,
Digitally signed by Sherri
Sherri L. L. Tasto
Date: 2019.06.06
Tasto 09:19:24 -07'00'

Sherri Tasto
Senior Director
Chip Testing and Approval Services
Visa International Service Association

cc: Visa Reference Number: LBMLTS03745A