Presentation by Andrew Whelan (CEO, Sancus BMS Group) at the offices of Addleshaw Goddard with event partners Arbuthnot Latham and Williamson & Croft.

1. Sancus BMS Group
Presentation – Manchester 25th April 2018

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1. Corporate Structure
2. Group Overview
3. Funding Solutions
4. Use of Proprietary Capital
5. Benefits for Borrowers
6. Benefits for Co-Funders
7. Borrower Characteristics
8. Digital Technology
9. Conclusion
10. Appendices
Agenda

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A profitable niche lending business offering different funding solutions in multiple jurisdictions.
Corporate Structure
**Affiliate* as at 31/12/17
Sancus Funding Limited
Company No. 7534003
Jersey
Sancus (Jersey) Ltd
Company No. 113391
Guernsey
Sancus (Guernsey)
Ltd
Company No. 58612
UK
Sancus Finance Ltd
Company No. 7485900
BMS Finance (UK)
SARL
Company No. 06008835
Sancus Funding Ltd
Company No. 7534003
Isle of Man**
Sancus (IOM) Ltd
Company No. 012528V
Ireland
BMS Finance
(Ireland) SARL
Company No. 905187
Sancus BMS
(Ireland)
Company No. 602607
Gibraltar
Sancus (Gibraltar)
Ltd
Company No. 113391

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Group Overview
Data source: Sancus Group as at 31/12/17
£797m
Cumulative Loan Book
£197m
Invoice Discounting
Supply Chain Financing
£432m
Asset Backed Loans
£168m
Business Loans
£30m
Proprietary Capital
Ireland Strategic Investment Fund
is an investor in
BMS Finance (Ireland) SARL
British Business Bank
Investments Ltd
is an investor in
BMS Finance (UK) SARL
£225m
Live Loan Book

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Funding Solutions
Short Term/Ongoing
(1 to 3 months)
 Invoice Discounting
 Supply Chain Finance
Medium Term
(3 – 24 months)
 Asset Backed Loans
 Property Bridge
 Property Development
Long term
(24 – 60 months)
 Intellectual Property
 Mergers & Acquisitions
 Cash Flow
 Mezzanine

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Use of Proprietary Capital
Critical differentiating factor:
 Allows us to underwrite loans;
 Allows us to change shape of credit risk for Co-Funders;
 Ensures we share risk with Co-Funders and have “skin in the game”;
 Ensures we can Co-Fund in every deal to control process;
 Highlights our confidence in our credit process;
 Provides us with the ability to subordinate to Co-Funders to reduce their risk.
Sancus BMS is wholly owned by GLI Finance www.glifinance.com a trading business listed on AIM

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A straight forward process which provides:
 Reliability - speed & efficiency of service;
 Transparency - on both costs and reporting;
 Certainty - commitment if borrowers meet clearly defined approval process criteria;
 Simplicity - terms can be customised to suit individual borrower requirements;
 Trust - in a relationship business you know who you are dealing with;
 Opportunity - access to capital in more complex situations than traditional lenders can cope with.
The Benefits for Borrowers

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A straight forward process which provides:
 Diversification – via a low correlation to traditional asset classes with returns in excess of those from bonds and cash;
 Impact – assisting the real economy, making a real difference in your local jurisdiction;
 Simplicity – secured participation in a hassle free way with transparent reporting;
 Flexibility – ability to repay monies if circumstances change and interest paid monthly if required;
 Control – Co-Funders can choose the type of opportunity they wish to allocate to;
 Trust – in a relationship business you know who you are dealing with;
 Reporting – access to our proprietary digital reporting platform.
The Benefits for Co-Funders

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Borrower Characteristics
What we look for in our borrowers, the six “C”s:
 Character – strong moral fibre;
 Capital – holistic approach to understanding a borrower’s total net-wealth;
 Collateral – what is our security;
 Cover – a sensible Loan-to-Value (LTV);
 Capacity – ability to repay and clear repayment strategy;
 Conditions – economic scenarios to understanding impact.

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Digital Technology
The Sancus Loan Management System
Sancus has developed a proprietary loan management system (LMS) for the administration of loans and coordination
of Borrowers and Co-Funders across all operating jurisdictions.
The Sancus Reporting Platform
The back-office LMS integrates with the Sancus Reporting Platform which is a bespoke client interface and an added
benefit for Sancus Co-Funders.
The Platform offers the following information:
 New Funding Opportunities;
 Details of current and historic loans, including interest received;
 Performance of loans;
 Statistics across the Platform.
The Platform comes with Multi Factor Authentication (MFA), adding higher levels of data security.

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 Straightforward to deal with;
 Speed and certainty of execution;
 Pragmatic application of common sense;
 Ability to review complex scenarios;
 Highly experienced credit team in multiple jurisdictions.
Conclusion

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Appendices
1. Case Studies
2. Digital reporting platform – homepage screen shot
3. Contact Details

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Case Study – Asset Backed Loan
 Type/Location: Trust/Isle of Man & Edinburgh;
 Purpose of loan: bridging loan;
 Loan value £4.65m;
 Funding: Sancus £300k with £4.35m spread between 10 Co-
Funders;
 Borrower’s Interest Rate: 11.4%;
 Co-Funder’s Interest Rate: 9%;
 Interest Serviced: Rolled up;
 Term: 9 months;
 Security value: £7.24m;
 Security: legal charge over two properties, Debentures & Charge over the shares of the joint borrowers;
 Completion: August 2017;
 Fees: Sancus will deduct 2.4% as an administration charge off the Borrower’s interest rate;
 All legal fees paid by borrower.

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Case Study – Asset Backed Loan for conversion
 Type/Location: Gibraltar/Company;
 Purpose of loan: bridging loan;
 Loan value: £3.87m;
 Funding: Sancus £95k with £2.92m spread between 10 Co-
Funders;
 Borrower’s Interest Rate: 12%;
 Co-Funder’s Interest Rate: 10%;
 Interest Serviced: Quarterly;
 Term: 12 months;
 Security Value: £6.45m;
 LTV: 60%;
 Security: first legal mortgage over the property, a debenture from the company and guarantees from the beneficial
owners;
 Repayment strategy: refinanced from traditional lender;
 Completion: March 2017;
 Fees: Commitment fee 0.50% & Arrangement fee 1.25%;
 All legal fees paid by borrower.

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Case Study – Supply Chain Finance
 Engineering business in South of England with turnover of
£120m;
 Needed to source working capital to support new projects in
continental Europe and the UK;
 Sancus provided £2m of working capital through 90 day
supply chain finance programme;
 Extended days payable outstanding by 45 days;
 There was zero cost to our client who was able to gain a
3.5% increase in gross margin;
 Sancus paid approved supplier invoices within 3 days of delivery to our client, allowing the client to negotiate 8%
early settlement discounts;

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Case Study – Invoice Finance
 Industrial coatings business based in North of England with
annual turnover of £7m;
 Client had won 2 large contracts creating a need for an
additional £750k working capital;
 Incumbent bank declined to support;
 Traditional invoice finance solutions required control over
the whole sales ledger and restricted the amount of funding
available;
 Fees based on all turnover meant that traditional invoice line was too expensive;
 Restricted funding from traditional invoice finance meant that company would not have sufficient funds to carry out
new contracts;
 Sancus Finance provided a £750k invoice finance line for the 2 new customers only;
 Company generated in excess of 10% contract values and they have now been invited to tender for additional
contracts, ensuring the company’s continued growth.

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Case Study – Business loan
 Simulity Labs Limited is a software company based in Bangor, Wales
specialising in embedded communications and related server
applications, serving over 45 mobile network operators;
 Their pioneering eSims and Over The Air platform enable their customers
to embrace the Internet of Things with no compromise on quality, security
or privacy;
 Simulity was growing impressively (>50% CAGR) but was constrained
by the working capital required to deliver the additional demand from their
customer base;
 Sancus provided a £1.5m loan, amortising over 3 years which unlocked delivery of the trapped extra revenue and
enabled Simulity to continue on its growth trajectory;
 A further tranche of £500k has been provided to assist in the development of the new eUICC suite of products
(embedded SIM), repayment of which has been structured over the remaining term of the original loan;
 Since Sancus’s involvement, the business has increased revenues by 100%.

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Digital Reporting Platform – homepage

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Contact Details (UK & Ireland)
Andrew Oppe
Regional Director, London and
South East
Sancus Finance
e andrew.oppe@sancus.com
t +44 (0) 3301 003636
Callum Scott
Regional Director, South
Sancus Finance
e callum.scott@sancus.com
t +44 (0) 1256 657852
Shane Lanigan
Managing Director,
BMS Finance UK & Ireland
e shane.lanigan@bms-
finance.com
t +44 (0) 20 7092 6700 (UK)
t +353 (0) 1 477 3272 (Ireland)
Peter Hudson
Director, Property Finance
Sancus Finance
e peter.hudson@sancus.com
t +44 (0)1256 898000
Sancus Finance
Richard Whitehouse
Sales Director,
Sancus Finance
E richard.whitehouse@sancus.com
t +44 (0) 3301 003636
BMS Finance
Carl Collett
Investment Director,
BMS Finance UK
e carl.collett@bms-finance.com
t +44 (0) 20 7092 6700 (UK)
Dan Walker
Managing Director
Sancus Finance
e dan.walker@sancus.com
t +44 (0) 3301 003636

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Contact Details (Jersey, Guernsey, Gibraltar & Isle of Man)
Michael Hennessy
Managing Director,
Sancus IOM
e michael.hennessy@sancus.com
t +44 (0)1624 604101
Matt Watson
Managing Director,
Sancus Guernsey
e matt.watson@sancus.com
t +44 (0)1481 713335
Stuart Hamilton
Business Development,
Sancus Jersey
e stuart.hamilton@sancus.com
t +44 (0)1534 708902
Stephen House
Business Development,
Sancus Jersey
e stephen.house@sancus.com
t +44 (0)1534 708908
Stephen O’Brien
Managing Director,
Sancus Gibraltar
e stephen.obrien@sancus.com
t +350 200 13702
Lino Brydges
Business Development,
Sancus Gibraltar
e lino.brydges@sancus.com
t +00 350 200 13705
Rachael Bajard
Business Development Manager,
Sancus IOM
e rachael.bajard@sancus.com
t +44 (0)1624 604104
Chris Taylor
Business Development,
Sancus Guernsey
e chris.taylor@sancus.com
t +44 (0)1481 713335

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Important Information and Disclaimer
Legal Disclaimer (page 1 of 2)
This Presentation (this "Document") relates to Sancus BMS Group Limited (the "Company") and its subsidiaries (the "Group") and has been delivered to you (a "recipient") for
information only. This Document does not constitute an offer or invitation to subscribe for shares or other securities issued by the Group, is not capable of acceptance by any recipient
and shall not form the basis of any contract or other arrangement between any member of the Group (or any other person) and any recipient (in any jurisdiction). Without prejudice to
the generality of the foregoing, the issue of this Document shall not be deemed to be any form of commitment on the part of the Company or the Group (or any other person) to
proceed with any investment.
The information in this Document, which does not purport to be comprehensive, has been provided by the Company and has not been independently verified.
Whilst this Document has been prepared in good faith, no representation, warranty or undertaking, express or implied, is or will be made, and no responsibility or liability is or will be
accepted by the Company or by any of its officers, employees, agents or advisers, in relation to the accuracy or completeness of this Document, the information contained in this
Document or any other written or oral information made available to any interested party or its advisers in connection with this Document, and any such liability is expressly disclaimed.
In particular, but without prejudice to the generality of the foregoing, no representation, warranty or undertaking is given as to the achievement or reasonableness of any future
projections, management estimates, prospects or returns contained in this Document or in such other written or oral information. Each recipient acknowledges and agrees by
accepting this Document that no person has, nor is held out as having, any authority to give any statement, warranty, representation, or undertaking on behalf of the Company. The
foregoing provisions of this paragraph shall not limit the liability of any person in respect of fraud or otherwise as prohibited by applicable laws.
The Company gives no undertaking to provide any recipient with access to any additional information or to update this Document or any additional information, or to correct any
inaccuracies in it which may become apparent.
Any recipient of this Document should note that this Document does not constitute an offer to the public to subscribe for securities in any member of the Group and has not therefore
been approved by any regulatory authority anywhere in the world.
Sancus (Guernsey) Limited is a non-regulated financial services business under the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008
as amended by the Registration of Non-Regulated Financial Services Businesses (Bailiwick of Guernsey) Law, 2008 (Amendment) Ordinance, 2008. This law has no effect on the
conduct of business of Sancus (Guernsey) Limited except for the requirement to carry out certain measures in connection with anti-money laundering and combating the financing of
terrorism measures in accordance with the guidance issued by the Guernsey Financial Services Commission from time to time. Sancus (Guernsey) Limited is also registered with the
Guernsey Data Protection Commissioner under the Data Protection (Bailiwick of Guernsey) Law 2001.

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Important Information and Disclaimer
Legal Disclaimer (page 2 of 2)
Sancus (Jersey) Limited is registered with the Jersey Financial Services Commission under the Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008 to carry out the business
of providing lending services, including consumer credit, mortgage credit, factoring (with or without recourse) and financing of commercial transactions (including forfeiting). As a
result of this registration Sancus (Jersey) Limited is required to comply with certain procedures to prevent and detect money laundering in accordance with the guidance issued by
the Jersey Financial Services Commission from time to time. Sancus (Jersey) Limited is also registered with the Jersey Office of the Information Commissioner under the Data
Protection (Jersey) Law 2005.
Sancus Finance Limited and Sancus BMS Group Limited are not regulated by the United Kingdom Financial Conduct Authority or by the Central Bank of Ireland.
Sancus (IOM) Limited holds a Money Lending Licence issued by the Isle of Man Office of Fair Trading under the Moneylenders Act 1991, which regulates private lending in the Isle
of Man. Sancus (IOM) Limited is also registered with the Isle of Man Information Commissioner under the Isle of Man Data Protection Act 2002.
Sancus (Gibraltar) Limited holds a Moneylender's Licence issued by the Gibraltar Financial Services Commission under the Financial Services (Moneylending) Act 1917, which,
together with the Moneylending Rules 1917 regulates private lending in Gibraltar. Sancus (Gibraltar) Limited is also registered with the Gibraltar Data Protection Commissioner under
the Gibraltar Data Protection Act 2004.
Sancus Funding Limited (formerly Funding Knight) is a wholly owned subsidiary of GLI Finance and is authorised by the Financial Conduct Authority under the Financial Services
and Markets Act 2000 of the United Kingdom and registered with the Information Commissioner's Office under the Data Protection Act 1998.