Investment in Allo Bank

Company Presentation

March 2022
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01 Industry Overview

02 Allo Bank: Overview

03 Key Investment Highlights

Industry Overview

3
 Indonesia is the digital giant in Southeast Asia, with more than 70% of Indonesians using the internet

Internet Users in Southeast Asia Internet penetration E-commerce as % of retail market

In million Percentage of population who use the internet, %

36%
5
Singapore 6
84%

Malaysia 27 33
63% 22%

Thailand 49 70

Vietnam 69 98

Philippines 74 110 6%

Indonesia 203 275

2020E 2025F 2017 2020 2025F
Internet User Non-Internet User

Highest number of internet users in SEA(1) Fast growing online user base(2) More expected to shop online

Source:
(1) We Are Social Digital 2021 Report; as of January 2021 4
(2) Frost and Sullivan
 However, majority of Indonesians are still unbanked

4th Largest unbanked

population in the world(1)
Cash continues to be a preferred mode of transactions(3)

Share of e-commerce payment methods, 2019E

E-wallet
Card 1.06%
4.67% Others

83mn
0.03%
Bank
transfer/ATM
21.20%
Unbanked population(1)

47mn MSMEs with no bank

accounts(2)
Cash
73.04%

Combined with high internet penetration, digital banks can help support financial inclusion

Source:
(1) Oxford Business Group, November 2019 5
(2) Asosiasi Fintech Pendanaan Bersama Indonesia (AFPI), 2021
(3) Frost and Sullivan
 The number of digital transactions have increased due to the pandemic

56%YoY Oct-21
63% YoY Oct-21
120% YoY Sep-21
Source: Bank Indonesia, October 2021

Increase in electronic Increase in digital banking Increase in number of QRIS

money transaction value transaction value merchants

66
Source: Bank Indonesia, October 2021
 Digital banking adoption is high in APAC Emerging Markets

Indonesia digital financial services is highly underpenetrated with massive room for expansion

APAC Emerging Markets lead in the use of fintech apps and e-wallets(*) Adoption of digital financial services (DFS) in Indonesia(**)
% of respondents % of all Indonesian households

Active users of digital Fintech app and e-wallet

banking(3) penetration(4)
92 90 54
88 88
51

9%
43 43
65 40
38
55

(1) (2) (1) (2)

Asia-Pacific Developed Emerging Asia-Pacific Developed Emerging Asia-
Asia-Pacific Asia-Pacific Asia-Pacific Pacific

2017 2021F 2017 2021F

Adoption of digital banking, fintech, and e-wallets in Asia Pacific emerging markets grew by Significant headroom for Indonesia’s
a factor of 1.4x between 2017 and 2021F digital banking growth

Source: (*) McKinsey, September 2021; (**) World Bank Digital Economy Household Survey (2020)
Note:
7
(1) Developed Asia–Pacific: Australia, Hong Kong SAR, Japan, New Zealand, Singapore, South Korea, and Taiwan (3) Active users are defined as respondents who access internet or mobile banking at least once a month
(2) Emerging Asia–Pacific: Mainland China, India, Indonesia, Malaysia, the Philippines, Sri Lanka, Thailand, and Vietnam (4) Penetration measures those who have use nontraditional financial-service providers’ solutions
 All digital financial services are flourishing in Southeast Asia, firing on all cylinders

Digital Payments (GTV) Remittance flow Lending loan book

In USD bn In USD bn In USD bn

+13%
CAGR
1,169

+31%
CAGR
Loan growth from FY21 – 116
FY25F is expected to originate
+9% from growth in disbursement
YoY
to Consumer sector 24
707
646 +18%
597 CAGR
33
+17%
YoY
+48%
YoY 39 92
17
15 6
23 26
11
4
3
33
20 23

2019 2020 2021F 2025F 2019 2020 2021F 2025F 2019 2020 2021F 2025F

Consumer SME

Source: E-Conomy SEA 2021: Bain Analysis 8

Note : GTV: Gross Transaction Value
 High cost-to-income ratio in Indonesian banks have hampered financial inclusion

Digital Bank Advantages Benefits for Customers

40-70% ~25%
Indonesian conventional
vs. China’s leading
banks C/IR(1) digital banks C/IR(2)

Lower IT capex and opex 24x7 availability

Ability to offer more effective services Innovative product & offerings

Access to more customers Increase financial & technological literacy

Digital banks, with its optimized cost structure and mass appeal,
could offer an opportunity to close the financial gap in a sustainable way

Source: McKinsey & Company, 2016; Momentum Works Research

(1) Mandiri Sekuritas (2020) 9
(2) McKinsey & Company (2019)
Note: C/IR: cost-to-income ratios
Allo Bank: Overview
Allo Bank is a digital bank, offering end-to-end digital financial services

Key Banking Features

Wallet Saving & Time Deposit PayLater Cash Loan Top Up

E-Wallet for online and Savings and time deposit Real-time credit Personal loan based on Multiple e-wallet top up
offline payment accounts with higher interest application through online real time smart data features
and offline algorithms

Payment Bills & Utilities Transfer Give Points Cash Out

Pay online and offline via Pay bills using your wallet Transfer funds between Transfer points to other Cardless cash withdrawal
QR code wallet and bank accounts user as a gift through ATMs and Merchant
Cashiers

Easy-to-use Strong technology Comprehensive Membership

interface partner banking features benefits
11
Source: Allo Bank’s website (https://www.allobank.com/)
 Intuitive user interface for hassle-free banking experience

Face detection technology Flexible terms for Instant

when upgrading Cash application
membership to Allo Prime

In-app time deposit

registration

Video banking to verify

QR code scanning for offline
Pay Later application
payment
12
Source: Allo Bank’s application
Key Investment Highlights
Key 1.
1 Strength in technology platform

Investment 2.
2 Increase MSMEs financial inclusion

Highlights 3.
3 Support BUKA’s open fintech ecosystem initiatives

4.
4 Potential collaboration with OUR partners

14
1 Strength in technology platform with a strong technology partner

Artificial Intelligence

• eKYC
• Chatbot
• Smart Collection

Cloud Computing Big Data

• Private cloud build on • Risk management

Distributed Architecture
• Differentiated services
• Highly scalable financial cloud
• API/SDK-enabled services • Precision marketing

15
2 Allo Bank will give access to financing solutions for Indonesian MSMEs through technology innovation

Quick and easy e-KYC process

Easy-to-use platform, increasing financial literacy

Access to a wide range of lending products

e.g. Pay Later and Instant Cash Loan

Advanced data analytics to improve loan approval rate

16
3 Part of BUKA’s open ecosystem initiatives to bring best in class financial solutions

Customers in 360° multi-ecosystem gives a more complete understanding

Digital Domestic
Product

Investments Lending Insurance

Banking Remittance
Frictionless trading
Domestic remittance service
Description

experience for multiple Various insurance products

Banking service Offers loan facilities for to meet the increasing
investment instruments e.g. e.g. life, health and product
for BUKA’s digital bank numerous needs demand of Mitras, Merchants
mutual fund (BMoney) and insurance
and End Customers
gold (BukaEmas)
Partners

and others and others and others

• Mitras • Mitras
Targets

• Mitras • Mitras
• End Customers • End Customers • End Customers
• End Customers • End Customers
• Merchants • Merchants

17
4 Many potential collaborations in the digital ecosystem with OUR partners

Developing the partnership network to enhance the growth of our customers through digital financial offerings

18
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