Investor Presentaiton

Attractive Free Cash Flow Generation Detailed Cash Conversion DD3 ACQUISITION CORP. Betterware Comments 1 1.0% of Net Company Sales, includes: employee benefits, bank commissions, and extraordinary expenses Mexican statutory, and company's effective tax rate of 30.0% Cash conversion cycle for December 2018 affected by 3 weeks of overstock due to an earlier Chinese new year. 2019P and 2020P days conversion cycle are matched Dividend approved during 4Q18, and paid during the 1Q19 Minimal Capex investment, of which 50% of annual Capex invested in product development and technological improvements Development of the Company's fully owned warehouse that will increase its storage and distribution capacity by 3x. The facility is being financed with a project finance loan and is expected to be operating in 2020 Pro-forma market cap of US$359.2mm; dividends equal to the 50% of the Company's net income (US$ in millions) 2018 2019P 2020P Net Company Sales $125 $161 $196 (-) Costs and SG&A (93) (118) (144) 2 EBITDA 32 43 52 3 1 (-) Other Expense (1) (2) (2) 2 (-) Tax (9) (10) (13) 3 (-) Change in Working Capital (3) (3) 0 4 (-) Extraordinary Dividend 0 (3) 0 4 5(-) Capex (1) (2) (2) 6 (-) New Campus 0 (20) 0 5 Unlevered Free Cash Flow 18 2 35 (-) Net Interest Expense (4) (4) (3) 6 Levered FCF 14 (1) 32 (+) Extraordinary Dividend 0 3 0 (+) New Campus 0 20 0 7 Adj. Levered FCF $14 $22 $32 Adj. Levered FCF as % of EBITDA 44.5% 51.4% 61.8% 7 Adj. Levered FCF Yield 7 Dividend Yield ΝΑ 6.1% 9.0% NA 3.4% 4.3% Source: Management Notes: Avg MXN/USD FX Rates: 2018-19.23, 2019P-20.0, 2020P - 20.0 19

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