Investor Presentaiton

... Leads to a Stronger Platform (continued) This case isn't unique to Damai or Lazada. We looked at number sellers across the fashion and beauty categories, for Shopee vs. Tokopedia also... . Shopee consistently had lower prices and higher number of reviews / volume per seller. Versus Tokopedia especially, Shopee's Ratings count was ~10x higher. • The site aesthetics were also much better on Shopee, with professional / stock photos, vs. self-taken photos on Tokopedia. Shopee's Superior App Aesthetics Shopee on top left, Tokopedia on bottom right MENTHOL DINGIN Cetaphil CCTANG Skin Cleanser d Matte Lap Grea Wardah Ma FOCALLURE SP Wer wild nush Part 1 CHAD) Pal Brashy f Tony Moly Date Tony POCALLURE FOUN W T C Rekons monomol Lp Fatter Lips Ismas WOW MONOMORA KOREA T HAYDEN CAPITAL Number of Ratings by Platform Shopee vs. Tokopedia Store Category Ranking Ratings toko womens fashion top sales 1,550 [1.40% Briginal Band .000.00 toko womens fashion top rated 1,765 toko beauty top sales 3,157 toko beauty top rated 3,780 toko electronics top sales 2,173 toko electronics top rated 2,128 toko comp/acc top sales 2,322 toko comp/acc top rated 2,271 shopee womens fashion best-selling 15,727 shopee womens fashion popular 13,635 MAGIE GLOW EXTRA NOW PROOF MATTE ME WHITENING NIGHT NEWSH NOW IS PROOF SOFT LIPSTICK 45.500 shopee beauty best-selling 18,358 shopee beauty popular 11,794 shopee electronics best-selling 22,447 shopee electronics popular 15,082 shopee comp/acc BACsire and Delicate a Than A C shopee comp/acc CHAMN 30g best-selling popular 2,304 1,766 Cushion FU-49.000 Fred Liu, CFA | [email protected] 18

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