#1CREDIT 维信金科 VCREDIT Holdings Limited Investor Presentation March 2023#2Table of contents CREDIT 维信金科 1 Corporate Vision 2 Market Overview 3 Company Strategy and Drivers of Profitability & Growth 4 2022 Annual Results Overview 5 Key Management 6 Strategic Initiatives 1#3VCREDIT 维信金科 Corporate Vision#4A leading credit platform for underserved consumers and SMEs Differentiated value propositions to borrowers and partners Under-served consumers/small business owners CREDIT 维信金科 Funding partners Traffic support Risk management Post-loan monitoring Fulfilling needs CREDIT 维信金科 Precision marketing & Joint modeling Business partners 3#5Diversified funding structure VCREDIT Trust lending and direct lending Credit- enhanced loan facilitation Pure loan facilitation CREDIT 维信金科 Licensed financing guarantee company Licensed small loan companies Trust lending: - Underwrite subordinated tranche of originated assets in trust - Provide guarantee Direct lending by our licensed microcredit subsidiaries - Select and recommend borrowers - Perform credit assessment - Provide guarantee Select and recommend borrowers - Provide credit assessment recommendation Capital-light operations for VCREDIT Funding partners Review and approve the loans Review and approve the loans Fund the loans - Fund the loans -Discretionary underwriting - Risk management - Joint modeling More active participation from funding partners ✓ 100% institutional funding Notes: (1) As of Dec 31, 2022 (2) Two wholly-owned online small loan companies which are allowed to do nationwide business ✓ Diversified and stable funding from 92(1) licensed funding partners 4#6Continuous growing with diversified funding sources CREDIT 维信金科 Loan origination volume (RMB mn) 22,526 18,186 24,642 27,547 28.2% 40,712 52,189 Outstanding balance (RMB mn) 60.3% Funding structure (RMB mn) 28.2% 52,189 15% 40,712 3% 25,071 25,071 27,547 54% 61% 24,642 1% 20,494 1% 22,526 17% 19,116 12% 18,186 6% 15,637 1% 15,637 8% 1% 1% 64% 58% 63% 99% 99% 41% 94% 99% 40% 99% 99% 22% 34% 48% 27% 18% 2% 3% 3% 2% 3% 2% 2021H1 2021H2 2022H1 2022H2' 2021 2022 2021H1 2021H2 2022H1 2022H2' 2021 ■Online Consumption Products ■Online Consumption Products Online-to-Offline Credit Products 2022 2021H1 2021H2 2022H1 2022H2' 2021 2022 ■Direct Lending ■Trust Lending ■Credit-Enhanced Loan Facilitation ■ Pure Loan Facilitation 5#7Remain profitable amid challenging environment Income breakdown (RMB mn) Adjusted OPEX breakdown(1) (RMB mn) %:as percentage of total loan origination volume Adjusted net profit (2) (RMB mn) 3,458 3,119 16% 5% 3.1% 4.5% 3.2% 3.3% 3.7% 3.2% 1,679 1,513 6% 805 5% 17% 44% 50% 18% 2% 1,880 2% 18% 1,578 1,582 1,537 900 5% 12% 5% 814 779 6% 699 5% 14% 408 6% 44% 36% 52% 57% 15% 2% 5% 2% 20% 331 75% 20% 2% 75% 2% 40% 45% 78% 78% 72% 52% 51% 30% 38% 73% 2021H1 2021H2 2022H1 2022H2 2021 Other Income 2022 2021H1 2021H2 2022H1 2022H2 2021 2022 ■Research and Development ■General and Administrative Sales and Marketing ■Loan Facilitation Service Fees ■Net Interest Type Income Notes: ■Origination and Servicing (1) Adjusted operating expenses are calculated by excluding share-based compensation expenses from operating expenses. (2) Adjusted net profit is defined as net profit excluding share-based compensation expenses. CREDIT 维信金科 206 1,213 537 2021H1 2021H2 2022H1 2022H2 2021 2022 9#8Our history and key milestones CREDIT 维信金科 Expansion stage Gradually transferred to online business Smart finance era Online only business platform 2021 Registered users reached 113M Startup stage Established offline stores 2006 Established our business as the very first consumer 2014 Established 3 licensed small loan companies • 2017 Started to commercialize Hummingbird to enhance credit assessment capabilities Series C round of financing from TPG Growth III SF Pte. Ltd 2019 Issued 1st US dollar bonds of USD$100M Migrated loan portfolio towards better quality customers Issued 2nd US dollar bonds of USD$85M Registered users reached 127M Issued HKD bonds of HK$200M Secured factoring license Invested in Opus Financial Group with SFC 1,6,9 licenses finance service provider in China Wholly-owned licensed VC guarantee Began long-term partnership with FOTIC Started our cooperation with China Telecom Launched technology-assisted Successful IPO on HKEX (code: 02003HK) Transferred to online only 2020 business platform 2022 credit product KK Credit and DD! Cash 2018 2015 2009 1st 9th 12th 15th 7#9VCREDIT 维信金科 Market Overview#10Large and addressable consumer finance market China's consumer loan balance(1) Penetration rate of consumer credit (1)(2)(3) (RMB tn) CAGR : 7.9% 24.9 22.9 23.4 20.5 19.0 17.0 2021A 2022E 2023E 2024E 2025E 2026E China's online consumer credit market(1) (RMB tn) 11.2% CREDIT 维信金科 35.2% 36.4% 36.7% 29.8% 31.0% 2014A 2021A 2026E ■ China ■ USA In 2021, consumer loan balance in China reached to RMB17.0tn, while it reached to USD4.43tn (1) in USA Online consumer credit | digital financial platform in 2021 (RMB tn) Ant Financial, Lufax, JDT CAGR : 9.6% Internet traffic platforms 2.8 2021 Proportion 9.2 8.5 RMB 3.2 tn 87% 7.8 7.1 6.5 5.8 2021A 2022E 2023E 2024E 2025E 2026E Notes: Independent internet platforms 0.4 (1) Source: iResearch Inc., updated on April 2022; Wind, updated on August 2022 (2) Penetration rate of consumer credit in China = Consumer loan balance in China / Total Retail Sales of Consumer Goods in China (3) Penetration rate of consumer credit in USA = Consumer loan balance in USA / The scale of Personal Consumption Expenditure in USA 360, FinVolution Lexin, Vcredit 6#11Market positioning and opportunities Participants Banks Sufficient • Mega-sized cash digital platforms Participants • Consumer finance Super-prime CREDIT 维信金科 ↑ Expected China's Well served online consumer credit will grow to RMB9.2 trillion in 2026(1) Rising consumption expenditure and increasing Prime company willingness to use . Bank(small- With to-mid size) CCRC Under- served by credit for • Digital credit banks platforms history Near-Prime consumption are expected to drive the growth of consumer credit in China Note: CREDITⓇ 维信金科 (1) Source: iResearch Inc. 10 10#12VCREDIT 维信金科 Company Strategy and Drivers of Profitability & Growth#13Migration towards higher quality customers Cumulative borrowers (1) (mn) Loan volume by customer type CREDIT 维信金科 18.8% 8.3 , 8.3 2% 4% 3% 2% 3% 2% 7.3 20% 7.0 7.0 28% 30% 6.6 35% 33% 34% 78% 70% 67% 62% 63% 64% 2021H1 2021H2 2022H1 2022H2¦ 2021 2022 2021H1 2021H2 2022H1 2022H2 2021 2022 ■ Prime ■Near-prime ■Testing group We saw steady growth in the number of our borrowers Note: (1) Represent the total number of customers who made at least one transaction at the end of each period We continued to improve overall quality of our borrowers 12#14Our data source and customer strategy Our data source Bad Chinese internet eco-system Our strategy CREDIT 维信金科 E-commerce platform Payment company Implementing new generation of multi-source scorecards with excellent risk splitting power Enhancing customer experience and driving sustainable growth Aiming to acquire more credit-worthy customers and aligning with regulatory pricing cap CCRC credit Fraud detection data database Vscore Sub-par Average Good Excellent 13 13#15Robust credit risk management capability enhanced by cutting-edge technology Note: B Interception engine CREDIT 维信金科 Policies and 24/7 Fully automated transaction process enabled by 'Smart lending' technology 阆 rules engine Scorecard engine Machine- learning engine Anti-fraud engine User portrait engine Decisioning engine 90+ data sources Big data engine 20+ unique scorecards 100% online customer acquisition 84% repeat borrowing rate (1) Robust risk management enabled by our advanced technology (1) Represent the percentage of loan volume generated by existing borrowers who have successfully borrowed on our platform before 14 14#16Stable asset quality First payment delinquency ratio (1) & M3+ ratio(2) Vintage based M3+ delinquency ratio(3) COVID-19 outbreak 7.07% 4.72% 2.04% 5.56% 2.86% 10% The impact of the COVID outbreak in December 8% Macroeconomic slowdown due to COVID-19 regional outbreaks 6% 2.39% 2.28% 4% 2.06% 1.81% 1.77% 1.40% 1.53% 1.44% 0.81% 0.55% 0.44% 0.40% 0.43% 0.42% 0.43% 0.27% 0.23% 2% 0.35% 0.43% 0% 90 Q1 2020 Q2 Q3 Q4 Q1 2021 Q2 Q3 Q4 Q1 2022 Q2 Q3 Q4 First Payment Delinquency Ratio Online M3+ Ratio CREDIT 维信金科 4 5 6 7 8 9 10 11 12 Month on book 2017 2021Q1 2022Q1 2018 2021Q2 2019 ⚫2020 2021Q3 2021Q4 2022Q2 2022Q3 Notes: Our asset quality indicators remained relatively stable (1) First payment delinquency ratio is defined as the total balance of outstanding principal amount of the loans we originated in the applicable period that were delinquent on their first payment month and were not recovered within the 5-day period directly after first payment month divided by the aggregate loan origination volume in that period (2) M3+ ratio is calculated by dividing the outstanding balance of online loans which have been delinquent for more than 3 months and have not been written off by the total outstanding balance of loans to customers excluding offline credit products (3) Vintage based M3+ delinquency ratio is defined as the total amount of principal for the online loans in a vintage that have become delinquent for more than 3 months, less the total amount of recovered past due principal, and then divided by the total amount of initial principal for loans in such vintage excluding offline credit products 15#17We continue to target customer life-time value higher CREDIT 维信金科 Higher life-time value Target higher profit on single loan basis Sustainable revenue with brand recognition and customer loyalty Enhanced customer experience through refined operation Refine customer segmentation schemes Improve customer engagement CREDIT 维信金科 Target high- quality customers Connect to high-quality channels Be more selective in customer acquisition Test & Learn Model Implement new generation multi-dimensional scorecards Evolve technology and artificial intelligence Optimize underwriting processes ANALY 16#18VCREDIT 维信金科 2022 Annual Results Overview#192022 Annual Results Overview CREDIT 维信金科 • Achieved a stable performance and sustainable business growth in 2022 with the record high loan originations against the headwinds from COVID-19 pandemic and fluctuating macro-environment Drivers of business growth: - Improved new customer acquisition (Volume Growth Rate ~30% y-o-y) Continues to shift to better-quality customers - Manageable asset quality amid challenging environment 18#202022 Annual results overview (cont'd) CREDIT 维信金科 RMB mn 2022 2021 Change 2022H2 2021H2 Change Total income 3,119 3,458 -9.8% 1,537 1,578 -2.6% Net interest type income 1,393 1,380 0.9% 578 820 -29.4% Loan facilitation service fees 1,564 1,540 1.6% 872 567 53.9% Other income 162 538 -69.9% 87 191 -55.0% Operating profit 695 1,514 -54.1% 265 505 -47.6% Adjusted operating profit(1) 700 1,547 -54.7% 266 511 -47.9% Net profit 532 1,179 -54.8% 205 402 -49.1% Adjusted net profit(1) 537 1,213 -55.7% 206 408 -49.5% Key Ratios Adjusted net profit / loan volume 1.0% 3.0% -2.0 0.7% 2.2% -1.5 Risk-bearing outstanding loan balance / 5.5x 4.3x 1.2x 5.5x 4.3x 1.2x shareholders' equity(2) Adjusted net profit / average shareholders' 14.9% 42.7% -27.8 5.5% 12.6% -7.1 equity(3) Note: (1) Adjusted operating profit and Adjusted net profit are defined as profit excluding share-based compensation expenses of RMB5 mn in 2022 and RMB33 mn in 2021 (2022H2: RMB1 mn, 2021H2: RMB6 mn). (2) Risk-bearing outstanding loan balance / shareholders' equity is calculated by dividing the risk-bearing outstanding loan balance at the end of the year/period, by shareholders' equity. (3) Adjusted net profit / average shareholders' equity is calculated by dividing adjusted net profit, by average of annual/semi-annual balance of shareholders' equity. 19#21Operating performance overview Key operating metrics CREDIT 维信金科 No. of transaction of online consumption products (K) 2021 2022 Cumulative registered users 112.5mn 126.8mn 4,896 43.9% 3,403 Cumulative verified users 80.8mn 95.1mn 2,768 Cumulative borrowers (1) 7.0mn 8.3mn 2,128 1,721 1,682 Average ticket size 12.0k 10.7k Average loan tenure 9.4 months 10.3 months 2021H1 2021H2 Average ticket size (RMB k) 21.7 12.2 12.0 10.7 9.3 8.8 7.3 6.3 2022H1 2022H2 2021 2022 Average loan tenure (Months) 31.8 21.1 12.8 13.3 9.5 9.1 9.4 10.3 2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021 2022 Note: 20 (1) Represent the total number of customers who made at least one transaction at the end of each period#22VCREDIT 维信金科 Key Management#23Experienced and stable management team leading cohesive talent development Note: Lawrence Ma Founder, Chairman Bankers Trust. CITIC RESOURCES HOLDINGS LIMITED 中信資源控股有限公司 Lan Xue General Manager 中核集团 CNNC Ray Yu CMO NEC Credit-risk centric IT ■ Post-loan service ■ Back office (1) Adaptive to regulatory environment Stephen Liu Founder, CEO Thomas Liu COO CREDIT 维信金科 Sanwa Bank STAR LEHMAN BROTHERS Jiafang Jin CSO Hongzhe Shi CTO Ethan Gong CRO Capital One Hong Bai CFO LEX)N乐信 citibank 15% HSBC Technology- driven efficiency 15% Products and marketing 37% ■ Strategy and risk control Total headcount 762 ■ Innovation business 11% ■ Customer services Institutional mindset ■ Senior managements 5% 7% 10% (1) Back office includes finance department, internal control department, admin department, HR department and PR department 22 22#24Dividend CREDIT 维信金科 Time Dividend per Share Regular HK 10 cents 2021 Interim Special HK 10 cents 2021 Final Regular HK 15 cents 2022 Interim Regular HK 10 cents 2022 Final Regular HK 10 cents (Recommended by Board) 23 23#25VCREDIT 维信金科 Strategic Initiatives#26We are well positioned to keep growing core business CREDIT 维信金科 Chinese economy Chinese economy is expected to maintain a stable growth rate Li Growth rate of GDP in China from 2019 with forecasts until 2027(1) 8.08% Proprietary data demand Long history in retail lending business Sufficient customer attributes Effective score card Comprehensive services Existing/potential funding partners will need our service in the foreseeable future More efficient borrower acquisition through more selective channels Comprehensive services including pre-loan and post-loan services "Smart lending" 11100 1111 1020 100110 Funding partner demand GDP year-on-year change 5.95% Customized product 4.44% 4.50% 4.63% 4.60% 4.63% 1010 Οι 3.00% 2.24% 2019 2020 2021 2022 2023 2024 2025 2026 2027 Borrowing demand Borrowing demand Borrowing demand through our APP will keep increasing steadily Borrowing demand of oversea enterprises increased from the continuous growth of economic scale Note: (1) Source: Statista, updated on Jan 2023 Risk management demand ● Funding partners can enhance their risk management system with our credit assessment technologies DE 25 25