For personal use only FY17 FULL YEAR RESULTS PRESENTATION F E B R U - PowerPoint PPT Presentation

For personal use only FY17 FULL YEAR RESULTS PRESENTATION F E B R U A R Y 2 0 1 8 FRONTIER DIGITAL VENTURES

CONTENTS For personal use only – 1 Portfolio strategy for FY18..… … … … … … .… … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … page 3 – 2 FY17 results… … … … … … … … … … … … … … ...… … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … page 12 – 3 Operational highlights for FY17… … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … page 16 – Additional information… … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … ..… … page 19 A 2 FRONTIER DIGITAL VENTURES

SECTION 1 PORTFOLIO S TRATEGY FOR FY18 For personal use only 3 FRONTIER DIGITAL VENTURES

FDV SNAPSHOT For personal use only The leading operator of online classifieds businesses in emerging countries or regions Our story Our footprint Our optimisation process Focus on market Developing Asia (ex. China and India) Founded in 2014 by the former leading businesses Due diligence management team of iProperty in underdeveloped, Pakistan Sri Lanka emerging markets and Catcha Group Philippines M yanmar Vietnam M alaysia (Head Office) FDV has established a portfolio of Invest with structured Initial terms including options 15 leading online classifieds investment and performance businesses in emerging markets Central and South America milestones Panama Uruguay FDV identifies early stage Costa Rica Paraguay Exercise equity Optimise operating companies where it can Nicaragua Bolivia options strategy invest at a significant discount to Honduras the value it can create through its optimisation process Unlock revenues Assess and execute Africa/ M ENA consolidation closer to the FDV maintains equity ownership transaction opportunities Nigeria M orocco alongside local entrepreneurs, Ghana Angola leveraging their passion, Tanzania knowledge and experience M onetisation 4 FRONTIER DIGITAL VENTURES

PORTFOLIO SUM M ARY For personal use only FDV has established a portfolio of 15 1 leading property, automotive and general classified online platforms in some of the largest emerging markets globally Current Classifieds Target M arket position by Population 2 Operating company shareholding type markets sessions Zameen 30% Property Pakistan 197m #1 Tier 1 Encuentra24 42% Central America 24m 3 #1 General Pakwheels 37% Automotive Pakistan 197m #1 Infocasas 31% Uruguay, Paraguay, Bolivia 21m #1 Property n.a. 4 Propzy 29% Property Vietnam 94m iM yanmarHouse 43% Property M yanmar 53m #1 AutoDeal 33% Automotive Philippines 105m #1 n.a. 4 Hoppler 21% Property Philippines 105m ToLet 39% Property Nigeria 191m #1 LankaPropertyWeb 48% Property Sri Lanka 21m #1 CarsDB 76% Automotive M yanmar 53m #1 meQasa 86% Property Ghana 29m #1 Tier 2 Kupatana 31% General Tanzania 57m #1 M oteur 49% Automotive M orocco 36m #1 Angocasa/ Angolacarr 1 75% Property/ Auto Angola 30m #1 Notes: Focus on building 1 Angocasa and Angolacarr treated as 1 entity within the portfolio for reporting purposes 2 World Bank 2017 clear market leaders 3 Population in Encuentra24 target markets include Panama, Costa Rica, Nicaragua and Honduras 4 Propzy and Hoppler are transaction based classified models 5 FRONTIER DIGITAL VENTURES

FDV STRATEGY UPDATE For personal use only Clear focus on building a portfolio of tier 1 market leading online classified businesses in rapidly growing emerging markets Property bias Geographic focus Bias towards property classifieds Narrowed geographical focus with due to stronger opportunities to priority of developing Asia (ex China establish larger, market leading and India), Central and South businesses America, and Africa/ MENA Establish portfolio of tier 1 market leaders Portfolio revenue growth Consolidate market leaders Quarterly revenues have Portfolio businesses expected to increased at a CAGR of +79% extend leadership positions since 1Q 2016 – revenue through strategy execution and growth expected to continue opportunistic market consolidations 6 FRONTIER DIGITAL VENTURES

PROPERTY BIAS For personal use only FDV’s management has a bias towards property classifieds as a result of typically stronger opportunities to establish larger, market leading businesses Portfolio split (#) Property (~63% of FY17 revenue) Inaugural property conference § In February 2018, FDV hosted its inaugural global property tech conference in Dubai, an General exclusive event for FDV’s businesses including 2 portals 17 industry leaders from 13 countries § Conference is a demonstration of FDV’s successful entrepreneur-led strategy as it empowers local founders with best-practice Automotiv Property online classifieds blueprints e 9 portals § 5 portals Insights shared about the current environment where buyers and sellers of property want a one-stop platform for property transactions Property comprises the majority of FDV’s tier 1 market leading businesses 7 FRONTIER DIGITAL VENTURES

GEOGRAPHIC FOCUS For personal use only Narrowed geographical focus with priority of developing Asia (ex China and India), Central and South America, and Africa/ M ENA – FDV has added 4 new businesses to its portfolio in 2017, 3 of which were Asian classifieds (Propzy, AutoDeal and Hoppler) Developing Asia (ex. China and India) Central and South America Africa/ M ENA 67% of FY17 revenue 30% of FY17 revenue 3% of FY17 revenue 8 FRONTIER DIGITAL VENTURES

CONSOLIDATE M ARKET LEADERS For personal use only Portfolio businesses expected to extend leadership positions through strategy execution and opportunistic market consolidations #1 M arket position by sessions FDV continuously assesses opportunities to further extend market leadership – FDV is in active discussions with select portfolio companies to fund potential consolidations or asset swap strategies in selected markets – Transactions could present FDV with Other assets an opportunity to merge traffic, listings, agents, advertisers and revenues – Aim is to create or entrench market leaders (Transaction focused classifieds) 9 FRONTIER DIGITAL VENTURES

PORTFOLIO REVENUE GROWTH For personal use only FDV portfolio assets have experienced consistent quarterly revenue growth with a CAGR of +79% since 1Q 2016 Quarterly revenue by type (A$m, 100% basis) 1 Quarterly revenue by geography (A$m, 100% basis) 1 8.3 8.3 1.3 6.9 6.9 2.0 6.1 6.1 0.7 1.6 5.4 5.4 0.7 2.1 4.8 4.8 1.8 2.1 1.8 3.9 3.9 1.8 1.6 3.5 3.5 1.5 3.0 3.0 1.2 1.6 6.0 1.4 5.5 1.5 1.3 4.6 1.4 4.3 1.2 3.8 3.6 3.4 3.3 3.2 2.8 2.3 2.2 1.8 1.9 1.5 1.4 1Q 16 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 1Q 16 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 Property General Automotive Asia Central and South America Africa / M ENA Source: Management accounts Notes: 1 Pro-forma unaudited figures representing 100% of the revenue of each asset on a standalone basis at 31 December 2017 10 FRONTIER DIGITAL VENTURES

CONTINUED PROGRESS TOWARDS M ONETISATION For personal use only FDV expects to see an increase in monetisation opportunities at a portfolio level which it will assess in the interests of all shareholders Sell down to existing Sell down to existing shareholders shareholders Build portfolio of Continue to add Assess 10 clear market value across the monetisation Sale to financial Sale to financial investor investor leaders portfolio opportunities Near complete Ongoing Tranche sale to new Tranche sale to new shareholders shareholders $ Trade sale to Trade sale to strategic strategic Optimise the portfolio balance Optimise business strategy FDV continues to explore and prioritisation of these and other options to businesses Unlock transactional revenues maximise shareholder value at the most suitable time for IPO / RTO IPO / RTO Disciplined rationalisation each portfolio company Assess consolidation may occur over time opportunities M erge with M erge with Exercise equity options to competitor competitor increase ownership 11 FRONTIER DIGITAL VENTURES

SECTION 2 FY17 RESUL TS For personal use only 12 FRONTIER DIGITAL VENTURES

PORTFOLIO PERFORM ANCE IN FY17 For personal use only Substantial progress made across FY17 with strong growth in key metrics which include revenue, sessions and market leadership Quarterly revenue (A$m, 100% pro-forma) 1 All 15 investments now tier 1 and 2 market leaders 8.3 A$26.7m revenue in FY17 (+76%) 6.9 +76% growth in total revenue to A$26.7m (100% basis) 6.1 5.4 CAGR = +79% 4.8 3.9 3.5 +35% growth in total website sessions to 268m (100% basis) 2 3.0 4 new business investments made in FY17 1Q 16 2Q 16 3Q 16 4Q 16 1Q 17 2Q 17 3Q 17 4Q 17 Source: Management accounts Notes: 1 Pro-forma unaudited figures representing 100% of underlying assets at 31 December 2017 2 Google Analytics 13 FRONTIER DIGITAL VENTURES