FinTech & InsurTech: Company presentation by Martin Stead, Nutmeg at the NOAH Conference Berlin 2019, 13-14 June - STATION.

1. 1CONFIDENTIAL. © NUTMEG SAVING & INVESTMENT LTD
Martin Stead
Chief Executive Officer

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3. 2
46%of Britons are not confident of
having enough retirement income.
ONS, 2018

4. 3
The problem is …
Many people have poor financial literacy
and haven’t developed good saving habits.

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… and it’s made worse by this.
For years the financial services industry has made
investing opaque, expensive and exclusive.

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We believe in equity.
Everyone should have
access to high quality
investments, whether they
have £1m or £100 to invest.

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Nutmeg was once the preserve of the rich.
Now, it is accessible to everyone.

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9. 8© NUTMEG SAVING & INVESTMENT LTD
Nutmeg addresses the needs of
three major market segments
IGNORED
MASS-AFFLUENT
SAVERS
x High complexity
x Advice scarcity
x Excluded
7.5m Savers
£250bn
1m+ Investors
£1.5tn
OVERCHARGED
HIGH NET WORTH
INVESTORS
x High costs
x No transparency
x Under-performance
POORLY SERVED
MASS-AFFLUENT
INVESTORS
x High costs
x High complexity
x Poor UX
2.5m Investors
£250bn

10. 9CONFIDENTIAL. © NUTMEG SAVING & INVESTMENT LTD
SMARTER WEALTH MANAGEMENT, FOR EVERYONE
High quality portfolios,
managed by experts
Delivered beautifully,
intuitively & friction-free
Radically lower costs,
driving up performance
+ +

11. 10CONFIDENTIAL. © NUTMEG SAVING & INVESTMENT LTD
UNPARALLELED INVESTMENT PERFORMANCE
NUTMEG
COMPETITOR
AVERAGE
DELTA
All time
30/09/12 – 30/04/19
77.5% 65.4% +12.1%
CY 2018 (9.9%) (6.5%) (3.4%)
CY 2017 13.5% 11.4% +2.1%
CY 2016 15.4% 13.7% +1.7%
CY 2015 3.2% 2.1% +1.1%
CY 2014 6.5% 4.1% +2.4%
CY 2013 20.9% 16.1% +4.8%
Capital at Risk. Past performance is not a reliable indicator of future performance.
Simulated returns based on Nutmeg trading data with actual trades carried out at market prices. Independent benchmarking via ARC PCI Sterling Equity Risk Index.
Our strategy beats the traditional wealth managers at their own game.
Nutmeg
Competitor Average
30 Sept 2012 to 28 Feb 2019
NUTMEG PORTFOLIO 10 vs. COMPETITOR AVERAGE (ARC PCI)

12. 11CONFIDENTIAL. © NUTMEG SAVING & INVESTMENT LTD
Strong
growth in assets…
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
50,000
55,000
60,000
… driven by significant
growth in investor base …
… supported by continuously
improving unit economics
82%
CA
GR
10x+ LTV / CPA
~7x LTV / CPA
72k Investors
20k
Investors
€ 2 billion
€100
million
June 2014 June 2019June 2014 June 2019
60%
CA
GR
STRONG GROWTH VS. WEALTH INDUSTRY BENCHMARKS

13. 12CONFIDENTIAL. © NUTMEG SAVING & INVESTMENT LTD
WINNING MARKET SHARE AND GROWING THE MARKET TOO
35% of our
investors are
female vs 26%
industry average
The average
Nutmeg investor
is 38, vs industry
average of 49
Youngest
investor is 18,
oldest is
over 100
One third of our
assets under
management in
£100k+ portfolios
40% of Nutmeg
customers
are first time
investors

14. 13CONFIDENTIAL. © NUTMEG SAVING & INVESTMENT LTD
Our simple objective is to be the most trusted and
fastest growing digital wealth manager in the world
We are building a wealth management business that will
profitably serve millions of customers around the world

15. 14© NUTMEG SAVING & INVESTMENT LTD
€18tn
globally
by 2025
2. EXPAND WITH B2B
Modular plug & play partner
integrations now underway
TWO-PRONGED GROWTH STRATEGY
€2tn
UK
today
Further investment in growth -
product, technology & marketing
1. LEAD IN D2C
UK SIZING: St James’s Place, Barclays Research, 2018
GLOBAL SIZING: Deloitte Robo-Advisory Report, 2016; Capgemini's 2017 World Wealth Report, 2017
Market Size
+

16. 15© NUTMEG SAVING & INVESTMENT LTD
THE BEST FUNDED DIGITAL WEALTH MANGER IN EUROPE
A-list backers,
with long-term commitment
Now democratising
company ownership too

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18. 17CONFIDENTIAL. © NUTMEG SAVING & INVESTMENT LTD
Capital at risk.
While we have made every attempt to ensure that the information
contained has been obtained from reliable sources, Nutmeg is not
responsible for any errors or omissions, nor for the results obtained from
the use of this information. All information is provided "as is", with no
guarantee of completeness, accuracy, timeliness nor of the results
obtained from the use of this information. Nutmeg cannot provide you
with legal, tax or financial advice. In no event will Nutmeg, or its partners,
agents or employees thereof be liable to you or any third party for any
decision made or action taken in reliance on the information in this
presentation or for any consequential, special or similar damages thereof.
As with any investment, your capital is at risk. Past performance is not a
reliable indicator of future performance, and this presentation gives no
guarantees of future company or investment performance.
This material is confidential and unauthorised redistribution is prohibited.
How we calculate & show our returns
Nutmeg returns shown are simulated as they do not represent a
single client account or an average of customer returns. The data is
calculated using actual Nutmeg trading data from client accounts,
using actual trades carried out at market prices, and is based on an
account size of £25,000. The returns are calculated after Nutmeg
management fees, calculated as the weighted average rate paid by
Nutmeg clients of 0.82% per year including VAT prior to
01/02/2016, 0.72% between 01/02/2016 and 01/02/2017 and
0.64% thereafter. Returns also account for investment fund costs
and the effect of market spread. Dividends have been included on
an accrual basis. Source of price data: Bloomberg, Macrobond AB
Source and basis for average competitor returns
Comparative performance data is based on monthly results
published by Asset Risk Consultants (ARC). ARC compute the
average returns from discretionary investment managers based on
risk profile, after fees. These include results from firms such as
Barclays, Coutts & Co, JP Morgan Private Bank, UBS, Rathbones,
Rothschild Wealth Management, and others. For example, the
Sterling Balanced Asset Private Client Index (PCI) is a group of
portfolios managed with risk aimed at around 60% of volatility of
global stock markets. For Nutmeg risk levels 3-4 the Sterling
Cautious index (0-40% Equity Risk) is used, for 5-6 the Sterling
Balanced Asset index (40%-60% Equity Risk), for 7-8 the Sterling
Steady Growth index (60%-80% Equity Risk), and for 9-10 the
Sterling Equity Risk Index (80%-120% Equity Risk). ARC do not
provide data for portfolios equivalent to Nutmeg risk levels 1–2.
Source data: Macrobond AB.