#1Affle (India) Limited Investor Presentation affle March 2021 Consumer Intelligence Driven Global Technology Company#2affle 15 years Track record Performance driven Business model Global Reach & opportunity Leading In India ◄...... Scalable Data platforms High Growth markets Committed Leadership Positive Cashflows Growth driven Global customer base Robust Profitability Accelerated Consumer digital adoption Strategic Organic & inorganic growth plan#3Affle | At a Glance affle ABOUT Global technology company 。 Leading market position in India 。 Profitable business model 。 Well-defined strategic growth plan BUSINESS SEGMENTS 1) Consumer Platform: Delivers acquisitions, engagements & transactions for leading 98.3% brands & B2C companies. Includes retargeting & push notifications for e-commerce 2) Enterprise Platform: Enables offline businesses go online through app development, 0202 commerce & data analytics 9MFY21 revenue1 1.7% GLOBAL REACH India, South East Asia (SEA), Middle East and Africa (MEA), North America (NA), Europe, LATAM, Japan, Korea and Australia 49.3% 50.7% 9MFY21 revenue¹ India revenue1,3 9MFY21 International revenue1,3 9MFY21 END TO END MOBILE ADVERTISING PLATFORM 。 In-house data management platform 。 2.2bn4 connected devices driving our predictive optimization algorithm 。 Fraud detection platform to help deliver high return on investment (ROI) to customers 3 R&D FOCUS WITH A STRONG PATENT PORTFOLIO6 Patents registered in US for digital advertising 10 Patents filed in USA & India for digital ad fraud detection Patent related to retargeting business filed in US FINANCIAL PERFORMANCE 1 4 FY20 (INRmn) 9MFY21 9MFY21 y-o-y (INRmn) Patents filed in Singapore (Consolidated) Revenue EBITDA growth 3,338 8885 3,752 47.9% 953 40.6% PAT 655 7637 51.9% Source: Company information, Frost & Sullivan Report titled "Industry Insights on the Advertising and Ad Tech Market", 2021 Notes: 1. For nine months ended December 31, 2020 on a consolidated basis; 2. 020: Online to Offline; 3. Region-wise contribution and is different from the billing entity-wise segmental break-up disclosed in financial results; 4. For the 12 months period of January 1, 2020 to December 31, 2020; 5. EBITDA adjusted for INR9.37mn of creditors written back in Q4 & 12MFY20; 6. As of December 31, 2020; 7. PAT attributable to equity holders of the Company after subtracting non-controlling interest 3#4Affle: End to End Technology Platform India Digital Advertising Spend c.30.7% CAGR FY2020-25 Advertisers FaaS 10 patents filed DIGIXX award 2019 Digital Marketing Excellence in Technology IAMAI award 2017 - Best Big Data Tech Platform Segregates human vs non- human traffic SG:D Accredited³ ROI Technology Platform Affordable Mobile affle E-commerce Market Brands / Retail FY20 9M FY21 Shoppers E-commerce market4 c.24.0% CAGR FY2020-25 DMP >2.2bn² Connected devices reached 75.7mn Consumer Platform Business Converted Users (9MFY21) # Converted users (mn) Average CPCU1 CPCU Revenue (INR) (INRmn) 72.3 41.0 2,965 75.7 40.7 3,084 Source: Industry data basis Frost & Sullivan Report titled "Industry Insights on the Advertising and Ad Tech Market", 2021 Notes: 1. Cost per converted user (Pricing model for Affle, which is the cost paid by the advertiser); 2. For the 12 months period of January 1, 2020 to December 31, 2020 on a consolidated basis; 3. mTraction (mFaas) from Affle International Pte Ltd. is accredited under the Accreditation@SG Digital (SG:D) programme by the Info-communications Media Development Authority ("IMDA") Singapore; 4. Basis volume of transactions 4 Consumers affle#5Key Investment Highlights 1 Performance driven end-to-end mobile tech platform powered by technology and innovation 2 Robust intellectual property (IP) portfolio addressing data privacy issues and ad fraud 3 Mobile connected global ecosystem growing robustly 4 Leading position in India, operating in a market with substantial barriers to entry 5 Global reach with a well-defined strategic growth plan 6 Strong track record of growth and profitability 7 Entrepreneurial and committed leadership team executing the Company's strategic vision affle 5 LO#61 Performance driven, high ROI CPCU business model 82%+ revenue from Cost per converted user (CPCU) model (9MFY21)1 affle (+ New user conversion (online) Here's a look at the numbers with regards to innings wins and defeats in Test cricket history SPONSORED Nishan Dick 798 S 18.39 2 Existing user repeat conversion (online) Late night at office? Order food from favourite restaurants near you RECOMMENDED New/existing user conversion (offline) A 1450 Use Case - Targeted new user acquisition optimized to in-app transaction/registration/event Use Case - Target interested user to complete the transaction Use Case - Online bookings to drive offline walk-ins (020) Note: 1. Revenue contribution from CPCU model to revenue from operations * ROI - Return on investment for our customers#7affle 1 Consumer intelligence driven end-to-end mobile tech platform Data and quality focused mobile advertising platform-based solution Audience Publishers integrated over SSP/API1 Q Programmatic outreach over Trading Desk Data DMP Appographic data¹ Commerce data Intent data¹ Quality Experience mkr8 FaaS Real-time Fraud checks to help reduce ad fraud and enhance quality Engaging Rich media, video & native ad units to maximize ad experience Note: 1. SSP - Supply Side Platform; API - Application Programming Interface; DMP - Data Management Platform; Appographic data - Apps used by a user; Intent data - Other action initiated by user 7#81 Technology and innovation powered growth Enabling an omni-channel connected ecosystem Proximity marketing with 020 incrementality <SHOFFR *MEDIASMART an affle company powered by affle, Ok Re-engage users & maximize transactions RevX VIZURY powered by affle Engage360 powered by affle Identify interested users DMP affle XXX 500 ** Drive conversation and engagements kr8 Acquire new users & shoppers aas Rev powered by affle powered by affle appnext an affle company affle Asset light, automated and scalable platform Flexible and scalable 2006 More ads delivered Growth in connected Self learning & predictive Delivery of devices algorithm targeted ads reached Strong network effects Generate actionable outcomes, more businesses to use Affle's platforms In-house platform leveraging cloud computing infrastructure Securely process and store large scale data Proprietary and real time (RT) RT prediction and recommendation algorithm Research & development (R&D) 15 years of focused R&D and innovation 8#92. Robust IP portfolio addressing data privacy issues and ad fraud affle CA IP Portfolio / Data privacy1 8 Patents in US & Singapore 3 Patents registered in US for digital advertising Consumer acceptable advertising Online search system method & computer program Ad Fraud¹ 10 Patents filed in US & India for digital ad fraud detection FaaS Accreditation² SG:D ACCREDITED Affle's real time solution for addressing mobile ad fraud, a major issue in digital advertising Singapore Government Organization Extending the use and/or application of messaging systems 2019 1 Patent in US Partner pixelling for user identification 4 Patents filed in Singapore 2017 DMS | DIGIXX 2019 DIGIXX Awards 2019 mFaaS awarded Gold in 'Digital Marketing Excellence in Technology' IAMAI_ Internet And Mobile Association Of India IAMAI India Digital Awards 2017 mFaaS awarded as the industry-wide 'Best Big Data Technology Platform' of the Year Factors considered for technical assessment included security assessment, reliability & usability and maintainability assessment Business sustainability, scalability, leadership and management were other Notes: 1. As of December 31, 2020; 2. mTraction is accredited under the Accreditation@SG Digital (SG:D) programme by the Infocomm Media Development Authority ("IMDA") Singapore areas of assessment 9#10(US$bn) affle 3 Mobile connected global ecosystem growing robustly Strong momentum in global digital advertising spend... ...with c.6bn¹ new connected consumer devices to be added by 2025 globally 500 CAGR: 9.0% 412 400 373 339 310 300 268 284 200 100 0 2020 2021E 2022E 2023E 2024E 2025E 10 8 6 4 Mobile advertising spend in India will accelerate Digital advertising spend in India (US$bn) Total Digital advertising spend CAGR: 30.7% Mobile advertising spend CAGR: 32.4% 8.3 5.8 4.3 3.2 2.6 2.2 2 0 FY2020 FY2021E FY2022E ■Mobile FY2023E FY2024E FY2025E Desktop Source: Frost & Sullivan Report titled "Industry Insights on the Advertising and Ad Tech Market", 2021 Note: 1. Excluding wi-fi routers which is part of others category and may not be relevant to the mobile advertising industry (users in mn) (Devices in bn) + 3 N c.6bn 3.2 1.5 0.9 0.4 1.3 Smart Home Devices1 Consumer Electronics Smart Vehicles Wearables Others ...backed by significant increase in India's digital user base 1,200 CAGR: 11.4% 902 810 800 727 525 585 652 400 0 FY2020 FY2021E FY2022E FY2023E FY2024E FY2025E 10#114 affle Leading position in India, operating in a market with substantial barriers to entry Strong track record in fast growing Indian market characterized by low prevailing CPCUs and other unique challenges 0.6bn1 Connected devices in India 15 years Track Record 49.3% India revenues² (9MFY21) Indian market - substantial barriers to entry Wide variation in shopping patterns 1977 Disjointed demographics by audience segment makes optimization of marketing spends challenging Price sensitivity India remains a low CPCU market vs. other global markets affle Strategic advantage Familiarity with local demographics Track record of working with Indian brands Predictive algorithm and strong network enabling precise consumer targeting Track record of profitability in the low CPCU Indian market User behaviour Online commerce penetration is still low in India and thus challenging to convert transacting users Extensive consumer profile data, proprietary technology and local knowledge Source: Company information, Frost & Sullivan Report titled "Industry Insights on the Advertising and Ad Tech Market", 2021 Notes: 1. For the 12 months period of January 1, 2020 to December 31, 2020 on a consolidated basis; 2. Region-wise contribution and is different from the billing entity-wise segmental break-up disclosed in financial results 11#12affle 5 Global reach with a well-defined strategic growth plan Strengthening our global reach with key focus on emerging markets... Primary markets: India, South East Asia, Middle East & Africa and Latin America 0.6bn1 Connected devices (India) O Other key markets: North America, Europe and Japan, Korea and Australia 1.6bn+1 Connected devices (International) ...with a strategic organic and inorganic growth plan Enhance revenue from existing and new customers & Strategically invest in inventory & data cost to reach the next billion shoppers on connected devices Expand the scope of products from just mobile to connected devices mapping consumers' end-to-end digital journey Penetrate further in emerging markets with a key focus on delivering more conversions across industry verticals Invest to develop and continuously enhance technological capabilities Further develop the fraud detection & prevention platform and address key industry challenges ☑Continue to selectively pursue acquisitions Continue to invest in the 4V strategy of Vernacular, Verticalization, Voice and Video Note: 1. For the 12 months period of January 1, 2020 to December 31, 2020 on a consolidated basis 12#135 Affle 2.0 strategy guiding Company's vision and growth ahead Affle 2.0 strategy for growth anchored on vernacular / verticalization / ecosystem-level partnerships Strategic acquisitions & investments to complement existing business¹ .:VİZURY powered by affle Mobile ad commerce business RevX appnext affle powered by affle Self-serve programmatic platform to deliver consumer acquisitions, engagements and transactions an affle company On-device personalized app recommendations to mobile users globally, strengthens vernacular reach DiscoverTech Out of Box Experience (OOBE) mobile device marketing technology 1-Sep-18 18-May-19 28-Jun-19 5-Mar-20 30-Jun-20 3-Sep-20 17-Feb-21 <SHOFFR powered by affle Convert online consumer engagement into in-store walk-ins *MEDIASMART an affle company Proximity marketing Bobble Al Indigenous social keyboard Aligned to Affle's vernacular growth strategy Appnext: Global Launch of OOBE - strengthens vernacular reach and original equipment manufacturer (OEM) partnerships In-App Advertisements Mobile app recommendations through strategic OEM / mobile network operators (MNO) partnerships OOBE: Out of Box Experience Across users' daily mobile usage Here's a look at the numbers with regards to innings wins and defeats in Test cricket history SPONSORED " + Thank You - Source: Company information Note: 1. The dates refer to the closure/effective date of respective acquisitions Welcome Wizards / OEM / MNO Banners Initial Device Personalization: Preinstall Apps 07:00 Mon May 13 Home Screen Jakarta Sunny 24° OF Blend as part of suggested apps. tuned to user's taste Daily mobile app recommendations across on-device consumer touch points 13#145 Verticalized focus on high growth categories Top 10 resilient E, F, G, H categories 1 E-commerce Category E Revenue contribution from E, F, G, H categories 100 Category F 80 74% $ EdTech Fintech 60 FMCG 40 90%+ Entertainment Foodtech Category G Category H Gaming Groceries Government 20 20 FY20 Increasing revenue diversity Revenue contribution from top 10 customers (as % of consolidated revenue) 80 60 60 40 40 Healthtech 20 64.5% affle 9MFY21 45.5% 0 FY19 FY20 14#15(%) 0 6 Strong track record of growth and profitability Delivering consistently growing conversions Converted users (mn) 100 60 37.2 CAGR: 39.4% 55.0 72.3 Growth: 35.2% 75.7 56.0 FY18 FY19 FY20 9MFY20 9MFY21 Strong financial performance Revenue from operations (INRmn) Growth: 33.8% 2,494 3,338 Growth: 47.9% 3,752 2,538 Amongst the best operating margins amongst global peers EBIT Margin (CY20) 30 21.3 21.3 20 20 17.9 17.2 10 Affle PubMatic Digital Turbine TheTradeDesk Mobvista 5.9 5.3 1.1 nm nm Criteo FreakOut InMobi Magnite EBITDA 28.2% Growth: 26.3% 8881 703 (INRmn) 26.6% 26.7% 25.4% Growth: 40.6% 953 677 FY19 FY20 9MFY20 9MFY21 FY19 FY20 9MFY20 EBITDA margin 9MFY21 PAT2 19.5% 19.3% 19.6% 20.0% Growth: 34.2% (INRmn) Growth: 51.9% 655 763 488 502 Source: Company information, Frost & Sullivan Report titled "Industry Insights on the Advertising and Ad Tech Market", 2021 Notes: 1. EBITDA adjusted for INR9.37mn of creditors written back in Q4 & 12MFY20; 2. PAT attributable to equity holders of the Company after subtracting non-controlling interest Operating cash flow (INRmn) Growth: 52.8% 478 730 Growth: 117.8% FY19 FY20 9MFY20 PAT² margin 9MFY21 FY19 FY20 9MFY20 9MFY21 362 15 787 affle#167 > Entrepreneurial and committed leadership team executing the Company's strategic vision affle Anuj Khanna Sohum Key Management Team Managing Director & Chief Executive Officer Chairman of the Board Anuj Kumar Chief Revenue & Operating Officer Executive Director Non-Executive Board Members Elad Natanson Chief Executive Officer (Appnext) Sumit Mamak Chadha Non-Executive Independent Director Eran Kariti Chief Technology Officer (Appnext) Vivek Narayan Gour Non-Executive Independent Director Bijynath Non-Executive Independent Director Charles Yong Jien Foong Chief Architect & Technology Officer Guillermo Fernandez Sanz Chief Technology Officer (Mediasmart) Kapil Mohan Bhutani Chief Financial & Operations Officer Martje Abeldt Chief Revenue Officer (RevX) Mei Theng Leong Non-Executive Director Vipul Kedia Chief Data & Platforms Officer Viraj Sinh Managing Partner - International Noelia Amoedo Chief Executive Officer (Mediasmart) Sujoy Golan Chief of Marketing & Omnichannel Platforms Advisors to the Board Richard Alan Humphreys Advisor of Affle (India) Limited, Director of Affle Holdings Pte Ltd (AHPL) Jay Snyder Advisor Affle (India) Limited Independent Observer, On Board of AHPL Source: Company information 16#17Appendix Shareholding structure affle#18Shareholding structure 100.0% Affle Global Pte Ltd ("AGPL”) Singapore 100.0%1 Affle Holdings Pte Ltd ("AHPL”) Singapore 100.0% 15.76% PT Affle Indonesia ("PAI") Indonesia Affle MEA FZ LLC ("AMEA") Dubai, UAE 46.84% Affle (India) Ltd ("Affle") India 100.0% Affle International Pte Ltd. ("AINT") Singapore 100.0%² Mediasmart Mobile S.L. ("Mediasmart") Madrid, Spain 66.67%³ Appnext Pte. Ltd. ("Appnext") Singapore Appnext Technologies Limited ("Appnext IL") Israel Source: Company information Notes: 1. AINT holds 99.0% directly in PAI and 1.0% is held by AHPL on behalf of AINT; 2. AINT holds 94.78% shares and 100% voting rights in Mediasmart. The balance 5.22% shares to be transferred on or before March 31, 2021; 3. Acquired 66.67% of equity ownership (100.0% voting rights) and 100.0% ownership of Tech IP assets - As on June 8, 2020 affle 100.0% 18#19Disclaimer affle This presentation and the accompanying slides (the "Presentation") have been prepared by Affle (India) Limited ("Affle" or the "Company") solely for information purposes and does not constitute a prospectus, a statement in lieu of prospectus, offering circular or offering memorandum, private placement offer letter, an advertisement, and should not be construed as an offer, an offer to sell, or recommendation or solicitation of an offer to subscribe for, or purchase any securities, and nothing contained herein shall form the basis of any contract or commitment whatsoever. This Presentation is strictly confidential and may not be taken away, copied, published, distributed or transmitted or reproduced or redistributed or passed on directly or indirectly to any other person, whether within or outside your organization or firm, or published in whole or in part, for any purpose by recipients directly or indirectly to any other person. This Presentation is not intended to be a prospectus (as defined under the Companies Act, 2013 as amended) or an offer document under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. Certain statements made in this presentation may be "forward looking statements" for purposes of laws and regulations of India and other than India. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition, general business plans and strategy, the industry in which the Company operates and the competitive and regulatory environment of the Company. These statements can be recognized by the use of words such as "expects," "plans," "will," "estimates," "projects," or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions, including future changes or developments in the Company's business, its competitive environment, information technology and political, economic, legal, regulatory and social conditions in India, which the Company believes to be reasonable in light of its operating experience in recent years. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company. The information contained in this Presentation should be considered in the context of the circumstances prevailing at the time, and to be read in conjunction with our financial results, uploaded on the Stock Exchanges where the Company's equity shares are listed. No representation, warranty, guarantee or undertaking, express or implied, is or will be made or any assurance given as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information, estimates, projections or opinions contained herein. Potential investors must make their own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as This presentation should not be considered as a recommendation that any investor should subscribe for or they may consider necessary or appropriate for such purpose. The statements contained in this presentation purchase any securities of the Company nor shall it or any part of it or the fact of its distribution form the speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or basis of, or be relied on in connection with, any contract or commitment therefor. This presentation is for undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein general information purposes only, without regard to any specific objectives, financial situations or to reflect any change in events, conditions or circumstances on which any such statements are based. Neither informational needs of any particular person. This presentation should not be used as a basis for any the Company nor any of its respective affiliates, its board of directors, its management, advisers or investment decision or be relied upon in connection with, any contract, commitment or investment decision representatives, including any lead managers and their affiliates, or any other persons that may participate in whatsoever. This presentation does not constitute financial, legal, tax or other product advice. You will be any offering of securities of the Company, shall have any responsibility or liability whatsoever (in negligence solely responsible for your own assessment of the market and the market position of the Company and you will or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise conduct your own analysis and be solely responsible for forming your own view of the potential future arising in connection with this presentation. This Presentation will not be updated to reflect material performance of the business of the Company. developments including economic, regulatory, market and other developments, which may occur after the date of the Presentation. You acknowledge and agree that the Company and/or its affiliated companies By attending this presentation and/or accepting a copy of this document, you agree to be bound by the and/or their respective employees and/or agents have no responsibility or liability (express or implied) foregoing limitations and conditions and, in particular, will be taken to have represented, warranted and whatsoever and howsoever arising (including, without limitation for any claim, proceedings, action, suits, undertaken that: (i) you have read and agree to comply with the contents of this notice including, without losses, expenses, damages or costs) which may be brought against or suffered by any person as a result of limitation, the obligation to keep this document and its contents confidential; (ii) you will not at any time acting in reliance upon the whole or any part of the contents of this Presentation and neither the Company, its directors or employees of the Company or its subsidiaries nor with any of their customers or suppliers, or any have any discussion, correspondence or contact concerning the information in this document with any of the affiliated companies nor their respective employees or agents accept any liability for any error, omission or misstatement, negligent or otherwise, in this Presentation and any liability in respect of the Presentation or governmental or regulatory body without the prior written consent of the Company; (iii) you agree not to remove or copy this document, or any materials provided in connection herewith; and (iv) you are an eligible any inaccuracy therein or omission therefrom which might otherwise arise is hereby expressly disclaimed. investor attending this presentation. 19#20Frost and Sullivan disclaimer affle This independent market research report on the advertising and ad tech market has been prepared by Frost & Sullivan India Pvt. Ltd. ("Frost & Sullivan") for Affle (India) Limited ("Affle"). Frost & Sullivan has prepared this report through extensive primary and secondary research, which involves discussing the status of the industry with leading market participants and experts, and compiling inputs from publicly available sources, including official publications and research reports. Frost & Sullivan has prepared this report in an independent and objective manner and has taken adequate care to ensure its accuracy and completeness. Frost & Sullivan believes that this report presents a true and fair view of the global and Indian advertising and ad tech markets and within the limitations of, among others, secondary statistics research, but it does not purport to be exhaustive. The results that can be or are derived from these findings are based on certain assumptions and parameters/conditions. As such, a blanket, generic use of the derived results or the methodology is not encouraged. Unless stated otherwise, all analysis, estimates, and forecasts, predictions, and other forward-looking statements contained in this report are Frost & Sullivan's. Frost & Sullivan's analysis, estimates and forecasts, predictions, and other forward-looking statements contained in this report are based on varying levels of quantitative and qualitative analyses, including industry journals, company reports and information in the public domain. Forecasts, predictions, and other forward-looking statements contained in this report are inherently uncertain because of changes in factors underlying their assumptions, or events or combinations of events that cannot be reasonably foreseen. Actual results and future events could differ materially from such forecasts, predictions or such statements. In making any decision regarding an investment in the Equity Shares, the reader should conduct its own investigation and analysis of all facts and information contained in this presentation. The reader should not construe any of the contents in this report as advice relating to business, financial, legal, taxation or investment matters and is advised to consult its own business, financial, legal, taxation, and other advisors. This report has been prepared for Affle's internal use, submission, and sharing with third parties. 20#21Contact Us Website www.affle.com Investor Relations Contact [email protected] affle