F88 Investment JSC is a rapidly growing financial services firm in Vietnam that provides lending and insurance products. It has over 520 branches nationwide and growing loan and insurance premiums of around 80% and 120% respectively each year. The company aims to serve Vietnam's large unbanked population and sees opportunities in title lending and insurance. It has a strong leadership team and corporate culture focused on its mission of expanding access to financial services in Vietnam.

1. Investment Teaser | 1
Vietnam’s fastest-growing financial services firm
Serving 50 million unbanked individuals and MSMEs in Vietnam
F88 INVESTMENT JSC

2. • Physical network of ~520 branches nationwide by yearend 2021 allowing the company to activate sales of lending and insurance products
• Expanding customer reach beyond internal network to 3rd
party channels with pipeline of partnerships (e.g. retailers, e-commerce, telcos)
• Technology-enabled capabilities open new growth opportunities for embedded finance and insurance product offerings
• Value of loan disbursed: ~81% YoY growth with low Non-Performing Loans
• Insurance premium: ~124% YoY growth
• Total revenue: ~ 111% YoY growth generating stable profit since 2019
• Founder-driven business driven by a strong corporate culture and commitment to a clear vision
• Deep expertise in risk management, financial services, and technology-enabled retail operations
• Proven track record of high-quality execution, recruiting top talent, and managing high growth in a rapidly expanding business
• Estimated 50 million unbanked/underbanked population with limited to no access to credit in Vietnam
• As an alternative lender, F88 has advantages over other non-banking financial institutions such as no credit growth limitations
• Title lending estimated to be a US $23B market size by 2025 and core insurance markets of health and auto to expand to US $2.5B
• Fastest-growing secured lending provider and insurance distributor in Vietnam
• Serves Vietnam’s large population of unbanked individuals and MSMEs who require fast and reliable access to credit
• Large customer base with growth at a 94% CAGR (2018-2021F)
Rapidly Growing Business
serving MSMEs and Unbanked
Title Lending and Insurance
segments are Large Addressable
Markets
Strong Performance & Risk
Management despite COVID-19
Challenges
Multichannel Ecosystem for
Growth
Strong Leadership Team
Keys business highlight
Rapidly growing and profitable business positioned to accelerate expansion in a high growth market

3. Corporate culture and core values
Strong corporate culture with a clear vision driven by core values
Change financing approach to assist people toward a
better life with quick, easy & transparent services
Mission
F88 is the largest personal financial service corporate in
Vietnam, loved and admired by everyone
Vision 2025
• Authenticity
• Customer centricity
• Integrity
Core Values
• Cause in the matter
• Good Relationship
“In business development, we apply the “Vision-Driven
Investment" model. In the early days, we invested heavily in
building a team with leadership capabilities and a strong
corporate culture. Since 2015, the entire team has been
trained continuously to build an organization with long term
vision and challenging goals. All the people of F88 share the
same voice, the same goal, the same love and belief with
what they have chosen.
We have set ourselves crystal clear goals every 5 years,
broken down the goals to each year and step by step realize it
together. We made our first five-year vision a reality all
together, and now we're on a journey to conquer the next. We
believe that we will have a wonderful and proud journey
when we make F88 the largest personal financial service
corporate in Vietnam, loved and admired by everyone…”
Mr. Phung Anh Tuan
Co-founder | BOD Chairman | CEO

4. Health Insurance and Motor Vehicle Insurance
US$m – Health insurance CAGR of 15.3% and Motor Vehicle CAGR 8.6% (2016-2025F)
Source: FiinRating, World Bank, AusTrade, PwC, company analysis
16
17
18
19
21
22
23
2019 2020 2021 2022F 2023F 2024F 2025F
432
546
640
753
822
946
1,081
1,210
1,371
1,551
536
595
641
708
733
795
871
937
1,025
1,122
2016 2017 2018 2019 2020 2021F 2022F 2023F 2024F 2025F
Health
Vehicle
Health & personal accident insurance premium
Motor vehicles insurance premium
Our mission is to bring broader financial inclusion to millions of Vietnamese
There are over 50 million Vietnamese with limited to no access to banking services
Vietnam has a large, untapped and fragmented lending market
Estimated total addressable market of title lending in Vietnam
US$b – calculation based on estimation of # of cars, motorbikes in the market
Vietnam is the fastest growing non-life insurance market in Asia
0% 1% 2% 3% 4%
11
%
9%
7%
5%
3%
1%
Vietnam
Philippines Thailand
Indonesia Malaysia
China
Japan
Taiwan
Singapore
Hongkong
Non-life insurance penetration 2020
Non-life
GWP
CAGR
2018-2025

5. 2013 2016 2019 2020
F88 was established
Received the investment
from Mekong Enterprise
Fund III of Mekong Capital
2018
Received the investment
from Granite Oak
Partnered with Payoo payment
gateway and Momo e-wallet to
provide services such as bill
payment, money transfer, top-
up, etc.
F88 signed a partnership with the Post
and Telecommunications Insurance
Corporation (PTI) to sell insurance
F88 issued ~ USD 5.6m local
bonds
Signed cooperation contract with
Mirae Asset Prévoir Life Insurance
Company Limited (MAP Life) to
distribute life insurance products
Signed a strategic partnership
memo to develop financial services
with KB Financial Group
Received more investment from
Mekong Enterprise Fund III and
Granite Oak
Issued local bonds: ~USD 34m
46 branches 124 branches 304 branches
2021
525 branches
Signed offshore loan USD 10m with
notable international lender
12 branches
Received a credit rating of BBB- and
stable outlook from Fiin Ratings
Strong track record of corporate development
Proven execution capability ready to accelerate scale and market penetration
Issued local bonds: ~USD 61m

6. The
imag
e
part
with
relati
onsh
ip ID
rId21
Diversified product offering
Innovative & suitable products for unbanked people and MSMEs
6
Notes: USD/VND 23,000;
Sources: Company Information
Figures as of Dec 2021 unless stated otherwise
ü 1.000.000+ policies sold to date
ü Flexible
ü Avg. loan tenure of 6 months
Motorbike Title-backed Lending Car Title-backed Lending Insurance Agency Services
ü US$9.5m in premium sold to
date
ü Avg. loan size of ~US$5,400
ü Avg. loan size of ~US$450
~ 59% Loan Contribution ~ 37% Loan Contribution
Partnering with 6
leading insurance
companies
ü Y-o-Y collected premium growth of
124%
ü Y-o-Y gross loan growth of 185%
ü Y-o-Y gross loan growth of 109%
30,000+ customers
(add-on services only)
Add-on services
Add-on services contribute to increase
traffic to branches
13,600+ transaction/month
(2021 average)
Partnering with Momo, Payoo
& Lazada

7. The
imag
e
part
with
relati
onsh
ip ID
rId21
Strong financial sponsors with long history in Vietnam
5
• A Vietnam-focused Private Equity firm, specializing in consumer driven
businesses
• Received awards from Private Equity International in 5 years: Frontier
Market Firm Of The Year for 2014 and 2016, Operational Excellence – Asian
Small Caps for 2013, 2015 and 2017
• Investor and board member of F88 since 2015
• A track record of consistently successful investments, including:
• A diversified investment holding company focused on non-bank
financial services and venture capital investments
• Co-founded and invested over $100m in non-traditional lenders and
financial companies globally
• Investor and board member of F88 since 2018
• Management team has extensive experience in structured finance,
credit and financial technology, and has previously worked at leading
institutions in finance, technology, research and public service, including:
Specialists in credit, lending,
and fintech investing
Leading PE in Vietnam
7