Investor Presentaiton

Shopee's Fashion GMV • As of December 2017, Shopee had ~31% Fashion GMV. - Of this, 42% was apparel, 32% was bags, and 13% was shoes. Also note that fashion orders have smaller than average order sizes, as indicated by 36% of orders but only 31% of GMV. Shopee's GMV Breakout Source from private Shopee marketing presenation, for a Southeast Asian retailer Shopee Category Breakout Fashion Others Source: Company data, Dec 2017 64% 69% HAYDEN CAPITAL Orders GMV Fashion Category Breakout Apparel 15% Bags Shoes 36% Others 16% Orders 49% Apparel and Bags make 20% up -70% of Fashion orders and 13% 31% 13% 42% GMV Private & Confidential Fred Liu, CFA | [email protected] 32% GMV 15

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