Investors Presentation Q1 2019 I.D. Meitav Dash Total Bond - PowerPoint PPT Presentation

Meitav Dash Investments LTD Investors Presentation Q1 2019

I.D. Meitav Dash Total Bond Shareholders Assets Under Rating Equity Management 131 131 839 839 A1 Shares BRM, NIS Million NIS Billion held by 29.33% the public, 39.80% As at 31/3/19 As at 31/3/19 Zvi Stepak, 28.38% In the Market Dividend TA-125 Index Value Distribution Policy 125 125 50 50% As at 31/3/19 700 700 At least NIS Million of net profit As at 31/3/19 2

Range of Products and Services Asset Management Activities 22.1 22.1 53.5 53.5 18.4 18.4 35.2 35.2 Portfolio Provident, Study Mutual ETFs and Pension Funds Management Funds AUM as at 31/3/19 in NIS Billion Additional activities • • Meitav Dash Trade Insurance Agencies • Meitav Dash Loans • Meitav Dash Brokerage • Alternative Investments • Meitav Dash Global Markets • Peninsula - SME Credit 3

AUM UM Other Portfolio 1.8 Management 18.4 Provident Funds, 131 Study Funds and Pension Funds 53.5 Mutual Funds 35.2 NIS Billion ETFs 22.1 As at 31/3/19 Other = Mutual funds under hosting and distribution arrangements 4

Selected Financial Data Q1 2019 Revenue Normalized EBITDA SME Credit- SME Credit - Peninsula Other Peninsula Other 13% 12% 23% 7% Provident 80 246 Funds, Study Trade & Provident Funds and Brokerage Funds, Study Pension 13% Funds and Funds Pension 15% NIS Funds NIS Trade & 32% Brokerage Million ETFs Million 14% 11% Mutual Funds & Portfolio ETFs Management Mutual Funds & Portfolio 12% 24% Management 24% Other = Insurance Agencies, Global Markets, Meitav Dash Loans, Alternative Investments, Nostro and other activities 5

Selected Financial Data Q1 Q4 Q1 2018 2018 2018 2019 217 217 Revenue* 887 246 175 Expenses 688 169 181 50 EBITDA 235 58 80 52 Normalized EBITDA 235 57 80 40 FFO 36 152 43 14 Profit for the period 77 23 32 12 Profit attributed to the shareholders 67 20 29 FFO Q1 2019 EBITDA Q1 2019 Profit for the period 32 Profit before tax 49 Depreciation and amortization 26 26 Depreciation and amortization Deferred taxes 1 Financing expenses, net 5 Revaluation of debentures (4) EBITDA 80 Other (12) 43 FFO *Including Nostro. In NIS Million Effective January 2019, the Company applies the provisions of IFRS 16, which sets guidelines for the accounting treatment of leases, and records amortization and financing expenses in lieu of rent and car leasing expenses. After neutralizing the implementation of the Standard, the normalized EBITDA in the first quarter of 2019 amounts to NIS 75 million 6

Dividend Distributions 45 45 49 45 NIS NIS NIS NIS Million Million Million Million 16 15 15 15 15 15 Q1 14 14 Q2 12 Q3 10 10 10 10 10 10 10 10 10 10 10 Q4 10 8 6 4 2 0 NIS Million 7

Long Term Vision Decreasing Dependence on the Financial Markets 14% 23% 26% 40% 2020- 2015 2018 2017 2022 60% 77% 74% 86% Revenue from Asset Management activities Revenue from Credit, Insurance, Trade, Brokerage, Alternative Investments and others 8

Revolution Meitav Dash Pension Funds Thousands of new employers Annual deposits of over AUM NIS 10 Billion joined the fund in 2017-19 NIS 1.9 Billion First place in the Ministry of Finance International reinsurer Over 300 thousand customers Index of Service and Recommendation by Pension Customers in 2018 as at 20/5/19 9

Peninsula – SME Credit provides credit to small and medium sized companies in Israel 18.5 Revenue Net Profit 14 13.4 10.2 8.4 7 4.8 4.4 2.3 2.1 Q1 2015 Q1 2016 Q1 2017 Q1 2018 Q1 2019

Alternative Investments Liquidity Capital Fund which specializes in the acquisition of future revenues of growing technology companies with recurring revenues Pagaya Fund which specializes in retail credit in the US Real Estate Fund Fund is engaged in the acquisition and management of real estate in the US, in cooperation with Harbor Group

Segment Analysis 12

Provident, Study & Pension Funds Market Share AUM 8.2% 8.2 21.9 21.9 53.5 53.5 Study Funds Provident Funds 21.7 21.7 NIS Billion 9.9 9.9 As at 31/3/19 Pension Funds • One of the selected pension funds in MOF 2018 Q1 2018 Q4 2018 Q1 2019 tender for the second time 50.6 53.5 • The largest pension fund among investment AUM in NIS Billion 50.9 50.9 houses, with assets of NIS 9.9 billion and annual 79 Revenue in NIS Million 320 81 79 deposits of over NIS 1.9 billion Annualized Management 0.6 0 % 0.62% 0.64% 0.61% Fees Operating Profit 10 42 13 10 in NIS Million As at 31/3/19 13

ETFs Market Share AUM 22.1 22.1 24.8 24.8% NIS Billion • Wide range of products Including 49 tracking funds 2018 Q1 2018 Q4 2018 Q1 2019 (included in mutual fund assets) with annual revenues of over NIS 10 million AUM in NIS Billion 21.1 26.2 21.1 22.1 • A successful transition from ETNs to ETFs follows Revenue in NIS Million 113 21 22 27 the introduction of Amendment 28 Annualized Management • Commencing the second quarter of 2019, the 0.44% 0.30% 0.37% 0.51% Fees merger of Meitav Dash Mutual Funds and Tachlit Operating Profit Indices has been completed 41 4 4 9 in NIS Million As at 31/3/19 14

Mutual Funds & Portfolio Management Market Share AUM Mutual Funds AUM Portfolio Mutual Funds Management 15.3 15.3% 35.2 35.2 18.4 18.4 23.0 23.0 Traditional Funds 7.6 7.6 Money Market Funds NIS Billion NIS Billion 4.6 4.6 Tracking Funds • Continued growth in the traditional Mutual 2018 Q1 2018 Q4 2018 Q1 2019 Funds AUM 29.2 35.2 AUM Mutual Funds in NIS Billion 33.7 33.7 • Launch of Meitav Dash Manager - Digital AUM Portfolio Management in NIS Billion 17.6 17.6 17.6 18.4 Portfolio Management from NIS 25,000 59 Revenue in NIS Million 223 54 58 Annualized management fees from 0.8 5 % 0.86% 0.87% 0.86% traditional funds* Annualized management fees from money 0.1 6 % 0.15% 0.15% 0.15% market funds Annualized management fees from portfolio 0.3 2 % 0.33% 0.33% 0.33% management 22 Operating Profit in NIS Million 76 19 18 As at 31/3/2019 * Excluding tracking funds. 15

Trade & Brokerage Of the trading Customer Assets 13.0 13.0 8.3 8.3% turnover in shares and bonds on the Tel Aviv Stock Exchange NIS Billion • The leading non-bank TASE member 2018 Q1 2018 Q4 2018 Q1 2019 • Constant growth in recruiting new customers Revenue 105 25 29 31 • New trading system and mobile app for opening a digital account enabling a quick and efficient 33 7 11 11 Operating Profit onboarding process as well as advanced trading NIS Million As at 31/3/19 tools 16

Financial Statements 17

Balance Sheet (In NIS Million) As at As at As at As at 31/12/18 31/3/19 31/12/18 31/3/19 625 519 Credit from banks and others 573 Cash and short-term investments 460 849 Other current assets 973 21 Liabilities for short sale of securities 10 1,368 Total current assets 1,433 314 Trade and other payables 389 960 225 Total current liabilities 972 Long term investments 200 94 Loans from banks 97 1,368 Fixed assets and intangible assets 1,211 638 Debentures 669 Deferred taxes 20 20 328 Other long term liabilities 176 2,981 Total assets 2,864 839 Equity 825 122 Non-controlling interests 125 2,981 Total liabilities and equity 2,864 Net debt Net Debt to EBITDA excluding excluding Peninsula Peninsula 1. 0 283 18 Amounts in respect of ETNs

Profit and Loss Q1 201 9 2018 Q1 2018 Q4 2018 202 217 Revenue from management fees, commissions and other 829 204 18 Revenue from Peninsula 61 14 18 235 Total revenue 890 216 222 181 General and administrative expenses, marketing, sales, and financing expenses from Peninsula 688 169 175 54 Operating income 202 47 47 Profit (loss ( from securities held for investment purposes in nostro portfolio (3) 1 (5) 11 Financing expenses, net (36) (6) (8) (5) Other expenses, net (33) (7) (9) (12) Company's share in earnings in equity accounted investees 3 1 1 1 49 Profit before taxes on income 133 36 26 17 Taxes on income 56 13 12 32 Profit for the period 77 23 14 29 Profit attributed to the shareholders 67 20 12 19