Investor Presentation September 2019

1

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Disclaimer

2

Refined our Airport concessions portfolio

Technology transformation on

course

Further strengthened distribution network

Expandedrelationships with

global partners

Improved capital structure

Increased processed volumes

Maintained stable take rates

Completed IP-accretive acquisitions

Delivered strong

H1 Results reiterating our

guidance

What we’ve done since IPO

3

150Mn+2018 transactions processed

~$115Bn2018 transaction volume

1,500+2018 Corporate andinstitutional partners

25Mn+Retail customers

$210Mn2018 Adj. Group EBITDA(3)

$1.5Bn2018 Adj. Group Revenues(2)

170+ CountriesAgency presence

45 CountriesDirect operations(1)

Finablr – A global platform

Notes: 1. Includes 3 liaison offices 2.Adjusted Group Income is calculated as total income, as adjusted for disposed /discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of Income from JVs and associates, presented on a Constant Exchange Rate (CER) basis.3. Adjusted Group EBITDA is calculated as Profit before interest, taxes, depreciation and amortization adjusted as adjusted for disposed /discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of Income from JVs and associates and exceptional & one off costs presented on a CER basis

4

Notes: 1. Company estimate. Based on consumer Cross Border Payment volumes from the geographies where Finablr is present 2018e 2. Excluding miscellaneous income.

Market

leadership

Common integrated platform

Presence in

12 of top 15departure markets

Consumer Foreign Exchange

Solutions

500+Corporate clients

B2B and Payment Technology

Solutions

~6.7%market share(1)

Cross Border Payments and

Consumer Solutions

Foreign Exchange SolutionsB2B and Payment SolutionsCross Border Payments

Segmental

Adj. Group

Revenue

Contribution(2)

Segmental

Adj. Group

EBITDA

Contribution(2)

22%

52%

26%

39%

24%

37%

Finablr business segment overview

5

Technological prowess

Xpress Money powering remittances from

digital wallets powered by Unimoni

Geographical reach

Travelex and Xpress Money partnership in France

The partnership with WeChat Pay leverages

Travelex Pay and Swych’s capabilities

Distribution capabilities

Remit2India utilises UAE Exchange licences in 5 markets directly

Licences

Leveraging the benefits of an integrated platform to drive scale and efficiencies

6

Origination

Licences

Own physical network

Partner’s network

Own digital network

Processing platform

Operating capabilities

Compliance and Risk

Proprietary technology

Last mile

Proprietary network

Agents

Correspondent banks

Payment Service Providers

Our omni-channel distribution allows customer to choose between any means of origination and

any means of distribution including partners who connect into Finablr’secosystem

End-to-end capabilities across the payments value chain

7

Finablr is a partner of choice

Notes:. 1. One of the largest mobile handset manufacturers in the world. 2. US based technology provider to Financial Institutions.

* List of selected

partnersPayments and

Technology companies

Mobile wallet

operators

Supermarkets and

FX specialists

Banks and Financial

Institutions

Central

Banks

20

15

on

ward

s2

00

1 -

20

14

19

90

-2

00

0

Distribution / Network Regulatory / Licensing Technology

(1)

(2)

8

Stored Value Platform8

Gifting as a Service7

Acquiring solutions6

Payments Technology Solutions

Outsourcing5Foreign Exchange Solutions

Wholesale4

Last mileProcessingOrigination

Cross Border Payments

1Front End

Solutions2

Processing and

Back Office3

Distribution

Network

Finablr’s B2B and Payment Technology capabilities

9

Transactions 1x Engagement 3x Communities 10x

Traditional and MTOs

Airport players

Supermarkets and retailers

Processors Networks New entrants

Sustained evolution from transactions to engagement and now towards building communities

10

Clearly defined strategy for growth

11

Barriers to entry: Decades of capability

building create barriers that are hard

to displace

Market Agility: Technology platform

allows modular provisioning and accelerated

deployment

Fully invested platform: Economies and

Efficiencies of scale enable low marginal

costs matched by few in the industry

Omni-Channel Distribution Network

Global

Regulatory

Licensing

Technology

Growing opportunity from increasing mobility and invisible payments

12

Front End interfaces Back End infrastructure

Retail PoS

Online/

mobile apps

Kiosks/ATMs

Partner

systems/APIs

Technology Partners

Micro

servicesAPIs

Payments

Compliance

Pricing

1 Billion data points

Real time analytics

Machine-learning process

Data Lake

Correspondent banks and distribution partners

SecureISO27001, PCI DSS,

GDPR Compliant

ScalableCan manage 3x volumes

with existing infrastructure

Well Investedc.1,000 Tech employees

FlexibleCloud First Accessible globally

Finablr technology platform - overview

13

Organisation structure

Business continuity

(Current teams – system integration

shared services)

IP & Products

Innovation

• iHub

• Linkages

• Communications

• Architecture

• Experience

• Community Building &

Engagement

• Ecosystem

• RPA

• Shared Services

• System Integration

• Customer Support

i-HubsCentres of excellence

Organisation themes

Technology company exclusively supports

group-wide requirements

Leverage global presence, partnerships,

innovators, and centers of excellence

Drive culture of innovation; Balance

alignment and autonomy

Drive global thought leadership through

People, Patents and Products

~1,000 People UK, USA and India iHubs and COEs worldwide

Finablr’s FinTech and FinServ Organisation

14

Notes:. 1. Adjusted Group Income is calculated as total income, as adjusted for disposed /discontinued operations & non -core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of Inco me from JVs and associates, presented on a

Constant Exchange Rate (CER) basis. The constant-currency financial information has been calculated by applying the 2019 period average exchange rate to the Group’s actual performance in the prior period.

2. Adjusted Group EBITDA is calculated as Profit before interest, taxes, depreciation and amortization adjusted as adjusted for disposed/discontinued operations & non-core operations and impairments, entities not included in the financials but being brought i nto the group as part of reorganization, 100% of Income from JVs

and associates and exceptional & one off Costs presented on a CER basis. 3. Free cash flow defined as Group Adj. EBITDA – maintenance capex. 4. Cash conversion defined as (Group Adj. EBITDA – maintenance capex)/ Group Adj. EBITDA.

Rapidly growing volumesRapidly expanding institutional client base and partner network

Strong growth in retail client numbers through increased customer engagement

Accelerating Group Adj. Income(1) growthDriven by increasing scale of Cross border Payments and Consumer Solutions

and B2B and Payment Technology Solutions segments

Growth across all key products and geographies

Expanding Group Adj. EBITDA(2) marginMix shift towards high-margin, high-growth businesses

Increasing operating leverage and improved cost efficiency

Predictable and growing cash flows(3)

Strong conversion rate as a result of low capital spend requirements

Significant technology investment completed

Multiple avenues to future value creation underpinned by a disciplined capital allocation policy

1

2

3

4

5

+15.9%CAGR ‘16-’18

+7.2%CAGR ‘16-’18

+~300bps‘16-’18

+20.4%CAGR ‘16-’18

96%Cash conversion(4) FY2018

Highly attractive financial track-record

15

Free cash flow

• Cash conversation rate of over 90%

• Strong balance Sheet

Strong results at the

upper end of guidance

• The income of US$742.2 Mn up 9.1%

• EBITDA up 26.9%• Rising volumes, stable take rates

Growth across segments,

products and channels

• B2B and Payments Technology solutions registered the highest growth of 20.5% in line with expectations

Margin expansion

on track

• Continued revenue mix shift towards high-margin, high-growth business

• Efficiencies realized through cost optimization and operational excellence

Notes:

1. Adjusted Group Income is calculated as total income, as adjusted for disposed /discontinued operations & non-core operations and impairments,

entities not included in the financials but being brought into the group as part of reorganization, 100% of Income from JVs and associates, presented on

a Constant Exchange Rate (CER) basis. The constant-currency financial information has been calculated by applying the 2019 period average exchange

rate to the Group’s actual performance in the prior period.

2. Adjusted Group EBITDA is calculated as Profit before interest, taxes, depreciation and amortization adjusted as adjusted for disposed

/discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the group as part of

reorganization, 100% of Income from JVs and associates and exceptional & one off Costs presented on a CERbasis.

3. Adjusted EBITDA margin calculated as Adjusted Group EBITDA / Adjusted Group Income.

(US$ Millions, unless stated) H1 2019 H1 2018 Growth

Adj. Group Income 1 742.2 680.5 9.1%

Adj. Group EBITDA 2 103.3 81.4 26.9%

Adj. EBITDA Margin (%) 3 13.9 12.0 1.9

Processed volumes 64,861 56,707 14.4%

H1 2019 results highlights

16

Adj. income

Adj. EBITDA

margin

CAPEX

Tax

Leverage

Dividend

• High single digit income growth• Driven by continued double digit growth in Cross Border Payments and Consumer Solutions and B2B and Payment

Technology Solutions• These segments expected to represent c. 50% of total income in the medium term

• Approaching 20% in the medium term

• Driven by mix shift between the segments and segmental margin expansion

• Capex to trend towards 3-4% in the medium term, albeit D&A will likely beslightly higher than capex initially

• Effective tax rate of 18-20%

• Leverage to remain at or below 2.5x in the medium term

• Intend to begin paying dividends with effect from 2020

• Anticipate a progressive dividend policy, with an initial payout ratio of at least 15% of adjusted net income• Dividends will be split approximately one-third / two-thirds between interim and final

Guidance and medium term targets

17

Finablr - A unique investment proposition

Finablr is a global platform for Cross Border Payments and Foreign Exchange solutions serving consumers and businesses in a large and growing market

Built over four decades, the scale and scope of Finablr’s platform is difficult to replicate and creates high barriers to entry

Scalability and efficiency of its platform makes Finablr a partner of choice for payments and technology players

Powered by a fully invested platform, Finablr has delivered strong and consistent operational and financial performance

Well positioned to continue capturing growth in the market given Finablr’s ongoing investment in innovation, targeted acquisitions and new partnerships

18

Strong results at the

upper end of guidance

Disciplined execution

of strategy

Growing opportunity

from increasing

mobility and invisible

payments

Reaffirm guidance

at IPO

H1 Summary

19

Appendix

20

Direct presence Presence via agents(2)

Middle East29%

Sources: Company information.

1. 2018, refers to consolidated group of companies. UK and Europe includes Nigeria bank notes revenue.

Broad and diversified global network with embedded presence in key growth markets

2. Includes active presence only (i.e. where agents have processed at least 1 transaction over the past 12 months).

Adjusted Group Income

Split by Geography(1)

21

Business Segment Overview

22

Notes: 1. Total global Cross-Border Payments volume (McKinsey global payments report 2018). 2. Company estimate. Based on consumer Cross Border Payment volumes from the geographies where Finablr is present 2018e. 3. 2018 figures4. Segmental Adjusted Income is calculated as income by segment, as adjusted for entities not included in the financial statemen ts and 100% of JVs and associates and CER. 5. Segmental Adjusted EBITDA is calculated as EBITDA by segment, as adjusted for entities not included in the financial statements and 100% of JVs and associates and CER. Segment Adjusted EBITDA margin calculated as Segment Adjusted EBITDA / Segment Adjusted Income. 6. World Bank –CAGR between 2007 and 2018E. 7. McKinsey GCI Cross border model –CAGR between 2017 and 2021E.

Convenience

Efficiency

Value

Trust

Segmental Adj. Income (4) Segmental Adj. EBITDA (5)

Clientneeds

Productoffering

Marketopportunity

Keyhighlights

H1 2019Financials

Businessmodel(3)

Volume($41bn)

Take-rate(0.85%)

$127Tn(1)

Structural industry drivers firmly in place driven by

factors including

• Int'l Mobility (C2C payments opportunity of an

estimated ~$700Bn in 2018 growing at ~5%(6)),

• e-Commerce volumes of $350-$400Bn in 2017

(growing at >10%(7)),

• Int'l Trade and Commerce (B2B payments of $11 -

$15Tn in 2017 growing at ~5%(7)) etc.

Cross border payments

Payroll processing

Mobile wallets

~6.7% market share(2)

Presence in all top 10 corridors

Access to 63% of the global expat population

Growth (∆ YoY): +12%

$190Mn

Growth (∆ YoY): +14%

$57Mn

EBITDA Margin

29.9%

Overview of Cross Border Payments and Consumer Solutions

Beginnings of a large, well –connected financial ecosystem

Dominated by key payment corridors

Increased digitalization in both sending and receiving countries

Broad omni-channel payment networks – a key differentiator

Key market themes

23

Notes: 1. Euromonitor Global outbound spending under fixed rate. 2. Based on YouGov Study in 2017. 3. 2018 figures. 4. Segment Adjusted Income is calculated as income by segment, as adjusted for entities not included in the financial statements and 100% of JVs and

associates and CER. 5. Segmental Adjusted EBITDA is calculated as EBITDA by segment, as adjusted for entities not included in the financial statements and 100% of JVs and associates and CER. Segment Adjusted EBITDA margin calculated as Segment Adjusted EBITDA /

Segment Adjusted Income. . 6. World Bank.

Convenience

Global presence

TrustClientneeds

H1 2019Financials

Businessmodel(3)

Volume($16bn)

Take-rate(5.35%)

Retail foreign exchange

Prepaid travel cards

VAT refundsKeyproducts

$1.5Tn(1)

Total international tourist arrivals expected to grow

at a CAGR of 4.1% between 17-28E (6)Addressable

market

Keyhighlights

Most recognised brand in FX(2)

Present at 112 airports globally

Presence in 12 of top 15 departure markets

Access to global travelers

Growth (∆ YoY): +3%

$383Mn

$38Mn

Growth (∆ YoY): +34%

EBITDA Margin

9.8%

Overview of Consumer Foreign Exchange Solutions

Growth in international travel, led by emerging markets

Outbound cash spending continuing to grow

Two-speed economy valuing convenience and value

Increased importance of customer experience and retention

Segmental Adj. Income (4) Segmental Adj. EBITDA (5)

Key market themes

24

Notes: 1. Segment Adjusted Income is calculated as income by segment, as adjusted for entities not included in the financial statements and 100% of JVs and associates and CER. 2. Segmental Adjusted EBITDA is calculated as EBITDA by segment, as adjusted for entiti es

not included in the financial statements and 100% of JVs and associates and CER. Segment Adjusted EBITDA margin calculated as Segment Adjusted EBITDA / Segment Adjusted Income. .

• Relationships with over 500 corporate

clients including leading technology companies

• Strong and long-term client relationships

• Modular and scalable offering

• Innovation embedded in DNA

• Bespoke contractual arrangements for

Corporates, Financial Institutions, Payments

and Technology companies

• Flexible partnership model

• Moving money at scale

• Trust, reliability and security

• Deliver simple solutions by hiding complexity

• Robust technology platforms

• Vertically integrated value chain a key differentiator

• Increased adoption of digital platforms when addressing consumer solutions

• Robust transaction infrastructure that has full suite of product and distribution capability

• Security and compliance embedded across the product life cycle by all parties

Delivered as a modular capabilityModular

components

Origination Processing Last mile

Key market themes

H1 2019Financials

Businessmodel

Clientneeds

Keyhighlights

Growth (∆ YoY): +21%

$60Mn

EBITDA Margin

37.4%

Growth (∆ YoY): +27%

$161Mn

Overview of B2B and Payment Technology Solution

Segmental Adj. Income (4) Segmental Adj. EBITDA (5)

25

Technology Overview

26

Attributes Capabilities Business impact

Origination

Processing

Last mile

Extensive online presence provides customers with a full range of services via multiple avenues

RPA deployed across key back end processes. Launched AI- based Chatbots to automate end-to-end transactions and customer service

Robotic Process Automation

Integrated treasury management system to manage live positions across the globe. Real time pricing engine with centralised control

Bank-grade integrated compliance and risk management systems. Deep analytics and AI, ML equipped fraud management tools

Real time systems allowing complete view of cash across the channels which enables just-in-time Cash management and automated pick and pack robot

Highly secure platform with robust IT securitysystems and procedures. Strong data privacyand information security framework

Direct connectivity to the SWIFT, Ripple and national payment schemes in major markets. Integrated to over 190 institutional partners to ensure last mile distribution

~80%Average annual growth in

digital volumes(1)

30%Automation(2)

24 / 7Global dynamic pricing

75%Efficiency(3)

700,000+Orders processed in 2018

ISO 27001PCI/DSS and GDPR Compliant

190+Integrated partners

Mobile / Online

Operational

efficiency

Pricing and

Treasury

Compliance and

Risk Management

Logistics

Security

Connectivity

Finablr has invested over $160Mn in building and maintaining its modern proprietary payments infrastructure

Notes: 1. Growth in cross border transaction volume from 2016-18. 2. Automation of customer queries for UAE. 3. Reduction in number of false positives.

Finablr technology attributes, capabilities and business impact

27

Transactions 1X Engagement 3X Communities 10X

Existing and

new customers

1

Increase cross-sell of

products and services

2

Aggregate and resell

3rd party products

and services

5

Leverage Finablr Users, Presence and Partners

Great Experience Ecosystem Technology

Finablr communities will focus on sustainable value creation

28

Financial Highlights

29

2016A 2017A 2018A H1 2019

5.29%5.34%

5.53%14.6

13.4

15.5

Cross Border Payments and Consumer Solutions Consumer Foreign Exchange Solutions B2B and Payment Technology Solutions (implied)

Driven by customer need

for convenience and leading

market position

Notes: Figures shown are blended take-rates calculated as adj. income / volume for each segment.

CAGR 2016-2018

3.0%

5.86%

0.84% 0.86% 0.86% 0.87%

2018A H1 2019

CAGR 2016-2018

9.1%

34.336.5

40.8

2016A 2017A

Transaction volume ($Bn)

2016A 2017A 2018A H1 2019

0.58% 0.53% 0.49% 0.45%

36.4

46.4

58.2

CAGR 2016-2018

3.0%

Benefitting from industry

leading treasury capabilities

Strong volume growth with

bespoke revenue arrangements

Sustained take-rates across segments

21.8

6.9

36.1

30

289 315 351170 190

770 787827

372 384

213247

285

134161

18

12891366

17

1483

19

Segmental Adj. Group Income(1) ($Mn) Key highlights

680

5

742

8

2016A 2017A

6.0%

8.6%

9.1%

Notes:.

1. Adjusted Group Income is calculated as total income, as adjusted for disposed /discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of Income from JVs and

associates, presented on a Constant Exchange Rate (CER) basis. For 2016-2017, the constant-currency financial information has been calculated by applying the 2018 period average exchange rate to the Group’s actual performance in the prior period. For H1 2018, the constant-

currency financial information has been calculated by applying the 2019 period average exchange rate to the Group’s actual performance in the prior period.

CAGR '16-’18

7.2%

3.7%

15.8%

10.2%

Over 40% of the income coming

from high growth segments

Continued and resilient growth

in Consumer Foreign Exchange

Cross-selling benefit of integrated

platform delivering further upside

Cross Border Payments and Consumer Solutions

2018A H1 2018

Consumer Foreign Exchange Solutions

H1 2019

B2B and Payment Technology Solutions Other

Accelerating Adj. Group Income growth

31

33 3427

26 4138

1,1441,179

1,272

2018A

3.1%

7.9%

CAGR '16-’18

5.4%

11.4%

18.4%

7.5%

3.1%

% Total Adj. Group income(1)

85.8%88.7% 86.3%

Notes:

1. Adjusted Group Income is calculated as total income, as adjusted for disposed /discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of Inco me from

JVs and associates, presented on a Constant Exchange Rate (CER) basis. The constant-currency financial information has been calculated by applying the 2019 period average exchange rate to the Group’s actual performance in the prior period.

SG&A

2016A

People Technology

2017A

Marketing

Key highlights

Integrated platform provides

operating leverage

Growth in people expenses

driven by shift in skill mix of

the labour force

Cost efficiency plan well

under way

Sustainable levels of operating costs

Operating expenses ($Mn)

32

76 88 10350 57

6774

94

2838

76

(74) (68)(96)

(44) (51)

92

108

4860

145187

210

Segment Adj. Group EBITDA (1) ($Mn)

81103

2016A 2017A

29.0%

26.9%

CAGR '16-’18

20.4%

19.1%

19.2%

16.2%

% Margin

14.2%13.7%11.3% 12.0% 13.9%

Notes:

1. Adjusted Group EBITDA is calculated as Profit before interest, taxes, depreciation and amortization adjusted as adjusted for disposed

/discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of Income from JVs and associates and exceptional & one off Costs presented on a CERbasis 2. “Central

costs and other” is calculated as central costs less other income.

Cross Border Payments and Consumer Solutions

2018A H1 2018

Consumer Foreign Exchange Solutions

H1 2019

B2B and Payment Technology Solutions Central costs and other (2)

12.3%

Mix shift towards higher

margin segments

Scalability of platform and

strong network effect driving

economies of scale

Continued focus on efficiency and

increasing operating leverage

Key highlights

Solid Adj. Group EBITDA growth

33

Cross Border Payments and Consumer Solutions Consumer Foreign Exchange Solutions B2B and Payment Technology Solutions

26.4%28.1%

29.3% 29.9%

8.7% 9.4%11.4%

9.8%

35.9%37.3% 38.1% 37.4%

2016A 2017A 2018A H1 2019 2016A 2017A 2018A H1 2019 2016A 2017A 2018A H1 2019

Increasing EBITDA margins across all segments

34

Notes:

EBITDA margins calculated as segmental EBITDA/Income

63

97 96

6.5%7.1%4.9%

% Adj. Group Income(1)

Notes:

1. Adjusted Group Income is calculated as total income, as adjusted for disposed /discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the group as part of reorganization, 100% of Income

from JVs and associates, presented on a Constant Exchange Rate (CER) basis. The constant-currency financial information has been calculated by applying the 2019 period average exchange rate to the Group’s actual performance in the prior period.

2016A 2017A 2018A H1 2019

Evolution of capital expenditure (capex) ($Mn) Breakdown of capex

$Mn 2016A 2017A 2018A H1 ‘19

Growth Capex 57 85 87 40

- Technology 33 59 57 22

- Other 24 26 31 18

Maintenance Capex 7 12 9 4

- Technology 3 6 4 2

- Other 4 6 5 2

Total 63 97 96 44

Historic investments in the platform enabling

reduction in capex spend

Well invested for the future

Majority of capex invested in growth of

the business

5.9%

35

95.9%93.5%95.3%

Conversion(2) (% Adj. Group EBITDA(3))

95.8%

Free cash flow(1) ($Mn)

Adj.EBITDA(3) - capex Adj.EBITDA(3) - maintenance capex

2016A

82 90

114

59

2017A 2018A H1 2019

138

202

26.3%

15.5%

CAGR '16-’18

20.8%

Key highlights

Highly cash generative

business profile

Strong cash conversion

reflects limited ongoing

capital requirements

Future cash generation

benefits from prior

investments

Increasing free cash flow with high conversion rate

Notes:

1. Free cash flow defined as adj. EBITDA – maintenance capex.

2. Cash conversion defined as (adj. EBITDA – maintenance capex)/adj. EBITDA.

3. Adjusted Group EBITDA is calculated as Profit before interest, taxes, depreciation and amortization adjusted as adjusted f or disposed /discontinued operations & non-core operations and impairments, entities not included in the financials but being brought into the

group as part of reorganization, 100% of Income from JVs and associates and exceptional & one off Costs presented on a CER ba sis.

175

99

36

Increasing free cash flow with high conversion rate

Net Debt as at 30 Jun 2019

(US$ Millions, unless stated) 31 Dec 18 30 Jun 19 Changes

Gross Debt 1 876.0 820.3 (55.7)

Less: Usable cash (311.0) (486.2) 175.2

Net debt 2 565.0 334.1 (230.9)

Adjusted EBITDA 3 210.0 231.8

Leverage 2.7 1.4 (1.3)

Notes:

1. For the purpose of computation of gross debt, the Obligations of Visa B shares amounting to US$18.2million is excluded as this is not covered under any of the existing covenant testing obligations. Moreover, a further US$104.8million (US$96.6million of current liabilities and

US$8.3million of non-current liabilities) of borrowings by the Group’s India operations have also been excluded, as this liability is offset by a corresponding asset in the Group balance sheet for an amount of US$119.5million. Similarly, to the Obligations of Visa B shares, this

borrowing is not covered under any of the existing covenant testing obligations

2. Net debt defined as Gross debt net off Net usable cash.

3. The EBITDA used for 30th June 2019 is LTM EBITDA

37

Notes:.

1. Relates to Currency Select and Travelex Insurance Services which were disposed in 2016.

2. These companies include Jordan UAE Exchange Co LLC, Moneydart Global Services and Unimoni India.

Income EBITDA

$Mn

Reported financials 85 166 165 88 168

2016A

1,462

2017A

1,345

2018A H1 ‘18

1,435 691

H1 ‘19

734

2016A 2017A 2018A H1 ‘18 H1 ‘19

Adjusted financials at reported exchange rates 1,336 1,392 1,483 711 742 152 194 210 82 103

(-) Constant exchange rate differential (46) (26) - (30) - (7) (7) - (1) -

Adjusted financials at constant exchange rate 1,289 1,366 1,483 680 742 145 187 210 81 103

(-) Gain on disposals(1) / acquisition of businesses (109) (6) (3) - (1) (109) (6) (3) - (1)

(-) Non-core travellers cheques (4) (2) (2) (1) (1) 3 4 1 (0) (0)

(-) Net Exchange Gain (57) - - (4) (8) (57) - - (4) (8)

(-) Discontinued/disposed(1) operations

(+) (Provision)/Reversal of provision for'

impairment loss

(52)

-

-

-

-

-

-

-

-

-

(7)

197

-

(7)

-

24

-

-

-

-

(-) Interest income on related party loans (9) (11) (13) (6) (3) (9) (11) (13) (6) (3)

(+) Entities not included in HFI(2) 52 40 36 17 14 6 2 (2) 1 0

(+) Adjustments due to JV 53 27 31 14 13 7 5 5 2 3

(+) Exceptional costs and write-offs - - - - (5) 38 42 32 - 8

(+) Floatation Costs - - - - - - - - - 28

(-) IFRS 16 Impact - - - - - - - - - (91)

Disposed / discontinued and

non-core operations and impairments

Continuing activities in the process of being

brought into the Finablr perimeter as a part

of the reorganisation

Exceptional / one-off costsassociated

with creation of Finablr platform

Summary bridge to adjusted financials

38

$Mn 2016A 2017A 2018A

Global reorganisation costs and corporate projects 16.6 31.5 28.5

Onerous contract provisions 6.4 1.6 (0.2)

One time write-offs 12.2 4.0 2.0

Other non-underlying fees and charges 2.7 4.9 2.1

Total Exceptional Costs 37.8 42.0 32.4

Detailed breakdown of exceptional costs and write-offs

39

Change in net working capital

$Mn 2016A 2017A 2018A

Trade and other receivables 26 (175) 76

Trade and other payables 84 (333) (81)

Provisions utilised (27) (25) (15)

Reimbursement right 36 1 26

Travellers’ cheques awaiting redemption (38) (0) (27)

Total change in net working capital (87) (134) (22)

Key highlights

Level of receivables and

payables dependent on the

day the year ends

Volatility in working

capital induced by occasional

large orders

Limited working capital needs

for day-to-day operations

Net working capital movements

40

Other Information

41

Consistently

leading player

Bankaccounttransfer

Debit /credit card Cash

Bankaccount 3 - 5 days

Less thanone hour Next day

Sources: The World Bank.

Note: Cost calculation based on the transfer of GBP120. Ranking based on Q3’18.

1. Represents Q3’18 figures.

FirmPayment

instrumentAccess point

Internet

Transfer

speed

Receiving

methodFee

0.00

Exchange rate

margin (%)(1)

-0.03

Total cost (%)

(0.03)

Total Cost

(GBP)

(0.04)

Internet 0.00 0.25 0.25 0.30

Internet 0.00 0.52 0.52 0.62

Internet 0.00 0.82 0.82 0.98

Bank branch,

Call Center1.00 -0.01 0.83 1,00

Internet 1.09 0.11 1.02 1.22

Internet 1.90 -0.24 1.34 1.61

Bank branch,

Call Center2.00 -0.01 1.66 1.99

Illustration: UK to India Corridor (Q4 2018)

Pricing capabilities

42

4.3%Total consumer volumes growth 2017-19F CAGR

23.3%Digital

market value 2018-25F

CAGR

Cross Border Payments

$127Tn(1)

global cross border payment volumes

~$700Bn(2)

Consumer cross borderpayment volumes inaddressable markets

Market evolution and growth(2)

396 433527

579 592 625689

2007 2009 2011 2013 2015 2017 2018E

C2C money transfer inflows, $Bn

Size of payments flows, 2017 ($Bn)

CAGR 2017-21

350 - 450

100-150

250 - 350

Real estate investments

by individuals

Other bill payments (tuition,

healthcare, air travel, taxes, etc.)

Online e-commerce 10%+

5-10%

5-10%

Sources: McKinsey 2018 Global Payments report, World Bank, BMI, AB Newswire. 1. Total global Cross-Border Payments volume (McKinsey global payments report 2018). 2. 2018E volumes 3. World Bank 4. McKinsey GCI Cross border model

Large market opportunity supported with significant headroom for growth

43

Source: 1. Euromonitor International, Travel Edition 2019 as of 12/02/2019 2. World Bank. 3. UNWTO

Growth in international tourists arrivals by geography

International tourist arrivals growth 2018(3)

Emerging market focus

International travel and tourism remain the key drivers of demand for retail

Foreign Exchange

Outbound spending has grown significantly, and in 2017 exceeded U.S.$1.5

trillion, according to Euromonitor.

By 2028, international tourist arrivals are forecasted to total 2.1bn

Growth expected to continue, with an “Emerging Markets” theme

Leisure still outweighs business as the main purpose of travel spending

Comments

3%

6% 6%7%

10%

The Americas Europe Asia and Pacific Africa Middle East

International tourist arrivals

920 898 998 1,107 1,2061,341

2,094

2007A 2009A 2011A 2013A 2015A 2017A 2028E

Total international tourists arrivals (Mn)(1)

1,556 1,6631,795

1,9372,087

2020E 2021E 2022E

Global outbound spending expected to maintain its trajectory(1)...

2018A 2019E

$Bn, fixed constant rate, current prices

Favorable long term fundamentals driving growth

44

$Bn, fixed constant rate, current prices

37

38

4 6

3531

23

68

15 16

7 8

2012 2018 2012 2018 2012 2018 2012 2018 2012 2018 2012 2018 2012 2018 2012 2018

CAGR

54CAGR

CAGRCAGR CAGRCAGRCAGR CAGR

US UK JapanBrazil AustraliaChinaIndia

Global decrease in cash useis mostly due to decline in domestic

spending in local currency

Source: Euromonitor International, Travel 2019 edition 2019 as of 12/02/2019.

Use of cash in outbound

spending is increasing in

all key markets

UAE

Cash usage by travellers continues to grow

45

Diversified Offering

Omni-channel Platform

Proprietary, State-of-the-Art

Technology

Compliance and

Regulatory

Customer Retention

Leading Brands

Among the lowest CAC(1)

Banking players

International and local

Closing physical footprint

• Burdened by legacy technology

• Capital and cost

• Regulatory scrutiny

• Limited tech aptitude

• High costs

Money transfer operators

Lack of customer engagement

New entrants

Infrastructure, profitability, scale?

• High CAC(1)

• Regulatory and risk management

standards

• Limited exposure to emergingmarkets

• Mono-channel

• Lack of diversification

Specialists

Niche, point players

Note: 1. CAC as compared to other companies is a Company view based on publicly available information.

The scale and efficiency of the platform well position Finablr in a fragmented market

46

Dr. Bavaguthu Raghuram ShettyFounder, Co-Chairman and Non-Executive Director

• Self-made entrepreneur with over 39 years of experience

building and scaling global businesses across the healthcare,

financial services, pharmaceuticals, education,

FMCG andhospitality sectors• Founder and joint Non-executive Chairman of NMC HealthPLC

Abdulrahman BasaddiqNon-Executive Director

• Trained and qualified as a chartered accountant with EY, London

and spent over 25 years with EY in the UK and the GCC, with 15

of those years as an equity partner

• Spent over 12 years with a number of Gulf-based diversified groupsacross multiple jurisdictions and sectors including healthcare,

global public, private equities, venture capital, real estate investment,

development and construction and more

Sudhir ShettyNon-Executive Director

• Chartered Accountant from the Institute of Chartered

Accountants of India (ICAI)

Promoth ManghatGroup Chief Executive Officer

• Acknowledged expert and thought leader in the Fintech and

financial inclusion spaces

• Responsible for Finablr’s strategy execution and management,

as well as direct responsibility for the Group’s B2B & Payments

Technology Solutions segment including building relationships

and partnering with blue-chip global clients to providebespoke

solutions catering to their unique payment needs

Binay ShettyExecutive Director

• Responsible for setting the strategic vision and direction for the Group.

He works closely with the Chief Executive and the management team

and advises on developments that can have an impact on the

Group’s strategic initiatives and define its priorities

Board of Directors

47

Michael TomalinCo-Chairman and Independent Non-Executive Director

• Served as the Group Chief Executive and a Non-executive

Director of the NBAD

• Worked at N.M. Rothschild as an investment adviser and had a 24-year

tenure with the Barclays Group including heading their global

private banking division

Julian WynterIndependent Non-Executive Director

• Served as the CEO of the UAE Branch of Standard Chartered Bank,

where he oversaw and had governance responsibilities for all activities

and operations of the branch

• Previously served as the Group Head of Internal Audit atStandard Chartered Bank

Bassam EHageIndependent Non-Executive Director

• Served as the Managing Partner at EY prior to retirement and was crucial

to leading large due diligence assignments involving major acquisitions,

investment transactions and capital market transactions involving bond

issues that are listed on the LSE and other Europeanmarkets.

• Appointed as a member of the Audit Committee of InternationalMonetary Fund (IMF) Washington, effective from November 2019.

Robert Douglas DowieSenior Independent Non-Executive Director

• Served as an Independent Non-Executive Director and Chairman

of the Risk Committee for Emirates N.B.D. in Egypt, Chairman and

Independent Non-Executive Director of the British Arab Commercial

Bank in London and as an Independent Non-Executive Director

and Chairman of the Audit and Risk Committee for the Dubai

Properties Group

Gavin LawsIndependent Non-Executive Director

• Serves as Independent Chair of Board and Chair of

Remuneration of Union Bank. Also the Independent Director and

Chair of Audit and Risk at ASA International Group

HE Sheikha Lubna Khalid Al QasimiIndependent Non-Executive Director

• Former Minister in 4 ministries within the UAE Government

and former President Zayed University between 2014 and 2018

Karim Aly Awad Saleh SalaIndependent Non-Executive Director

• Group CEO, Chairman of the Executive Committee and member of

the Board of Directors at EFG Hermes and member of the Board

of Directors at Egyptian German Industrial Company

Board of Directors

48

Future. Enabled.

49