Fosun International (656.HK)

2016 Annual Results

1

This presentation and the presentation materials distributed herewith include forward-looking

statements. All statements, other than statements of historical facts, that address activities,

events or developments that Fosun International Limited (the “Company”) expects or anticipates

will or may occur in the future (including but not limited to projections, targets, estimates and

business plans) are forward-looking statements. The Company’s actual results or developments

may differ materially from those indicated by these forward-looking statements as a result of

various factors and uncertainties, and other risks and factors beyond our control. In addition, the

Company makes the forward-looking statements referred to herein as of today and undertakes

no obligation to update these statements. The exchange rates used in this PPT are as of

2016/12/31 (USD/CNY=6.94 EUR/CNY=7.31 HKD/CNY=0.89 EUR/USD=1.05), unless otherwise

stated.

2015 2016

Proportion of businesses of Health, Happiness, and Wealth increases consistently

3.4 3.7

5.5 6.9

8.0

1,478 1,532 1,618 1,689 1,527 1,401

0

1,000

2,000

3,000

4,000

5,000

0

3

6

9

12

2011 2012 2013 2014 2015 2016

Fosun Int' net profit (Left)

Hang Seng Index constituent stocks total net profit(Right)

Total Assets (1)

High growth, light-asset and capability to withstand cyclical risks

31.8 35.2 39.6

49.4

75.7 92.4

9,498 11,028 11,880 13,485 15,454

0

6,000

12,000

18,000

24,000

30,000

0

20

40

60

80

100

2011 2012 2013 2014 2015 2016Fosun Int' net assets (Left)

Hang Seng Index constituent stocks total net assets (Right)

16,919

2015 20162015 2016

Fosun International net assets in 5 years CAGR= 23.7%

Hang Seng Index constituent stocks total net profit in 5 years CAGR= -1.1%

2

% and contribution in 2015 % and contribution in 2016

Highlight 1: Surmounting the Ups and Downs in the Economic Cycle and Creating Value for Shareholders Consistently

RMB bn

Steady and Strong Growth in Net Profit and Net Assets

Fosun International net profit in 5 years CAGR= 24.7% RMB mn

Net Assets (1) Net Profit (1)

Business portfolio already established in developed markets; Proactive expansion into emerging markets

Hang Seng Index constituent stocks total net assets in 5 years CAGR= 12.2%

75.0% 81.1%

314,133

28.8% 404,710

55.7%

58.2% 73.0%

54,373

84,657

73.0% 76.0%

6,832

9,209 34.8% 10.3

yoy:27.7%

Mainland China

Japan

The United Kingdom

Germany

Portugal Hong Kong India Brazil

Russia

USA

Newly Emerging Markets

Note: 1. The Group’s investments in the steel industry were classified into the investment segment since 1 January 2016. The total assets, net assets and profit of “health, happiness and wealth” business of 2015 included that of the steel segment to improve the comparability

54.1% 51.4%

57.4%

65.3%

2013 2014 2015 2016

3

Completed Projects and

Returned Cash

Sales of Assets

PE Projects - IPO

Expiration of lock-up period

of stocks

Asset Securitization

Secondary Market

Placements

• Transaction amounted to approximately USD3 billion, after tax gain amounted to approximately USD310 mn

Domestic Property Sales

• 7 IPO projects from early 2016 to March 2017, from which Fosun’s equity interests totaled RMB6.59 bn

• Fosun holds 7.62 % equity interest which expired in December 2016;

• Fosun Pharma: Raised capital of approximately RMB2.30 bn;

J-REITs • Property management fees ABS (RMB1.5 bn);

Arrears payment ABS (RMB1.5 bn)

• JPY100.0 bn in market capitalization;

• Fosun holds 2.0% of China Huarong’s H shares which will expire at the end of August 2017

• Around 70% of units were sold through contracted sales and subscription in 4 and a half months after the launch; 2 years ahead of schedule in completing the sales target;

• Attributable contracted sales was RMB24.36 bn in 2016, up by 47.8% yoy

Highlight 2: Optimizing the Balance Sheet Consistently

Overall maturity period of liabilities has extended, proportion of mid-to-long-term

liabilities(1) increased

Effectively managed financing cost(2)

Capital debt ratio(3) continues to fall Substantial decrease in net gearing (4)

Liquidity is further improved

Note: 1.Debts matured over one year (exclusive); 2. Average interest rate of debts; 3. Capital debt ratio= Total debts/ Total capital, Total debts = Current and non-current interest-bearing borrowings + loans from related parties + convertible bonds, Total capital = Total equity + Total debts; 4. Net gearing ratio = Net debt/ Total equity, Net debt = Total debts - Cash and bank and term deposits

5.7% 5.6%

5.0%

4.5%

2013 2014 2015 2016

53.0%

55.9%

53.6%

50.7%

2013 2014 2015 2016

86.0%

73.3%

68.2%

60.3%

2013 2014 2015 2016

• Hainan Mining: Raised capital of approximately RMB890 mn

Tang Residence

4

Types of Service Product Manufacturing Technology Innovation Finance Property

Medical care REITs

Healthcare Hive

Medical Care Service

Health Insurance

Distribution and Retail of Healthcare

Products

Online medical service

Elderly Healthcare Service

Pharmaceuticals

Fosun’s ecosystem for health, with first-class talents and teams from across the globe

Consumer goods

Elderly Healthcare Products

Medical Devices

Maternal and Nursery Healthcare Products

Artificial Intelligence

Innovative drugs

Innovative Medical

Technology

Internet Technology

Funds of Industrial Business

Financial Leasing

Insurance

Maternal and Nursery Healthcare Consumers

Elderlies Healthy Consumers Doctors Patients

Fosun’s core health business system Fosun’s expanded health business system

Highlight 3: With Special Focus on Health Business, Creating a C2M Happiness Ecosystem for Success

Ma

ker

Core Customers

5

Highlight 4: Upgrading Happy Experience, Creating a C2M Happiness Ecosystem for Success

Creating a global all-industry ecosystem

Mini Club

Mini Club

Invest in middle-class demands • Consumption upgrades

The income level of China’s middle-class has raised; Southern Asia’s economies develop rapidly

• New groups of consumers with buying power have emerged. People born in the 1980s and 1990s form the backbone of the target group of consumers, triggering off changes to concept of consumption

• Consumption becomes easier with the advent of the internet, mobilization and global integration.

协 同

Core Customers

Ma

ker

Online and offline channels for reaching customers and realizing sales

Integration of Industries Value Investing

Ad

din

g V

alu

e

Ge

ne

rati

ng

syn

erg

y

Fanxiu arts performing company

Operations with light-asset business model and provision of products and

services under strong brands

Integration of global resources

Tourism

Content, products and culture which are inspired by the wants

and needs of the middle-class

Content as the core and channels as crucial links

Fashion Retail

Cultural Entertainment

Healthy Food and Beverage

Note: 1. Invested by Yuyuan

(1) (1)

Phoenix Park in Korea

79.0 93.0 99.5 114.0 119.0

2012 2013 2014 2015 2016

0 5

20

2009 2016 2020

Revenue from China(1)

Breakthrough in performance

Marking the best performance in recent 10 years in 2016

Increased the number of resorts in Greater China Region

Supported business development Supported the acquisition of Portugal medical group – Luz Saúde.

Strengthened the diversification of asset allocation Enhance the investment portfolio that contains equity investment, convertible bonds and overseas property.

Improved the globalization of asset allocation Newly allocated assets in 17 countries and regions, including Britain, the United States, Japan, Brazil and India, etc.

Highlight 5: One Fosun, Overall Improvement of the Capacity to Create Value

Case Two: Club Med Optimized strategic operation Effectively promote and implement long-term incentive system; speed up digitization; increase the intensity of direct procurement, increase the proportion of direct sales.

Promoted light-asset strategy All new resorts in China are operated with light-asset business model; promote the implementation of ‘sales-and-leaseback’ model

Actively developed China’s market Club Med has opened five resorts in China after Fosun invested in it, and it will accelerate business expansion in 2016.

Synergy Promoted indepth synergies with Thomas Cook, AHAVA and Cirque du Soleil, etc.

EUR mn

28.0% 29.8%

32.2%

2014 2015 2016

Performance achievements After the acquisition in 2014, net profit reached EUR221.8 million in 2016, which is double that in

2013.

An Elite Organization: Partners + MDs • Global partnership model; • Partners get involved in investment decision making,

risk assessment, post-acquisition management, exiting investments, and endorsement of the projects;

• A total of 265 people are MDs, including 108 from overseas countries, 99 locals; 10 of the global MDs are in such emerging markets as Russia, India and Brazil, etc.

One Fosun Platform

Driven by Technology • SaaS • Data management • Cloud computing

platform

Capacity to Create Value

Flexible frontline + Strong middle and back offices

Intelligent, Efficient and Value-added • Based on mobile internet and ongoing iterations; • Improve decision-making efficiency but never

omitting any process; • Combining competition with collaboration; • Opening large platforms

Case One: Insurance Portugal

• Star Big Data • Artificial

intelligence (AI)

Faster than competitors by 0.01 second

6

Note:1. Revenue generated from customers from China.

Maintained steady growth in market share

7

Application: Early screening for diseases, stem cell therapy, targeted medication

Application: payment in foreign currencies, intelligent investment advisory, appraisal of credit risks, internet insurance

Application: Immersive entertainment, interactive media, smart glasses, wearable devices

Investment cases: uSens (AR/VR) and other projects

Business Intelligence

Application: super computer

capable of learning with depth, precise marketing, SaaS

Investment cases: Hecom, Raysdata and Cloudcare, etc.

Application: intelligent

travel, social network, consumer finance, e-commerce platform, online travel

Investment cases: Ixigo (online travel),

Dianping.com, etc.

Investment cases: NAGA (intelligent investment advisory), Earnest (online lending)，Floow (automotive telematics data analysis) etc

Investment cases: Breas (engaged in sleep apnea therapy), Spirometrix (asthma monitoring) and other projects

HealthIntelligence FinIntelligence

Consumer-

Intelligence

Cainiao, Best Logistics, We Doctor Group etc.

Little Unicorns

Expressif, Molbase, Easy Parking, etc.

Projects Innovative Technologies

Intuitive Surgical JV

Intuitive Surgical is the manufacturer of Da Vinci robot. Fosun Pharma established a joint venture with it, mainly focusing on research and development, manufacturing and sales of new-generation robots used for early diagnosis and treatment of lung cancer.

Floow The largest provider of data service and technologies in telematics. It provides service for car insurance companies through data analysis, and helps car insurance industry to change its mode of operation.

We Doctor Group

A leading mobile internet medical services platform, We doctor provides appointment registration, online inquiry and other services for patients. It has over 150 million users and collaborates with over 260,000 medical professionals.

goujiawang.com, Massachusetts Medical, Linkedcare, maitao.com, Easyhin, Hunliji, dding, ysbang, CASRS, Floow, etc.

FunIntelligence

Transforming traditional businesses with innovative technologies and business models

Cases: Club Med digitization, Yuyuan’s big data project

Highlight 6: Stepping Up Investment in Innovation with Smart Technologies to Gear up for Future Opportunities

Deepening investment in innovative businesses, Pressing ahead with C2M business model intelligently

Unicorns Valued at over USD1 billion

Valued at RMB1 billion or above

Easy print, Red collar, Hecom, etc.

High-growth projects valued at RMB0.5-1 billion

High-growth projects valued at below RMB0.5 billion

Exemplary Cases of Innovative Projects

Note： 1. Adjusted BV = Market value of listed investments and interests in private placements in the Group + net assets attributable to owners of unlisted subsidiaries and associates in the

Group + costs of other investments in Group level – net debt in Group level

RMB 2016 2015 YoY Change

Net profit attributable to owners of the parent (bn)

10.27 8.04 27.7%

Basic earnings per share 1.19 1.06 12.3%

Diluted earnings per share 1.19 1.05 13.3%

RMB 2016/12/31 2015/12/31 YoY change

Book value per share 10.74 8.80 22.0%

Adjusted BV per share(1) 16.11 14.99 7.5%

Financial Highlights of 2016

8

11.5 10.8 14.2 18.7

24.4 23.9

4.9 3.9 5.3 5.1 5.4 5.4

-4

6

100

200

300

2011 2012 2013 2014 2015 2016

EBITDA Interest coverage (times)

Total debts and total assets

RMB bn

RMB bn

RMB bn 2016 2015 YoY change

Total assets 486.78 407.42 19.5%

Total debts (1) 126.28 115.11 9.7%

Of which : Matured within one year 43.87

（34.7%） 48.98

（42.5%） -10.4%

Matured in one to three years (exclusive) 33.58

（26.6%） 20.02

（17.4%） 67.7%

Matured over three years (inclusive) 48.83

（38.7%） 46.11

（40.1%） 5.9%

Mid-to-long-term debt ratio 65.3% 57.4% 7.9pp

Shareholder’s equity 122.87 99.55 23.4%

Cash and bank and term deposits 52.16 47.22 10.5%

Total debts / Total capital (2) 50.7% 53.6% -2.9pp

Net debt / Net capital (3) 37.6% 40.5% -2.9pp

Unutilized banking credit for facilities(4) 158.33 132.28 19.7%

RMB bn 2016 2015 YoY change

EBITDA 23.89 24.42 -2.2%

Interest coverage ratio 5.4 5.4 -

Average financing cost 4.47% 4.97% -0.50pp

4.47%

Interest coverage

Stable Balance Sheet

9

5.73% 5.61%

4.97%

4%5%6%7%8%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

4.47%

54.1 56.9 69.1 95.8 115.1 126.3 137.5 162.2 183.1 324.8 407.4 486.8

2011 2012 2013 2014 2015 2016

Total debts Total assets

5-year CAGR of EBITDA = 15.8%

Average funding cost for 2016 was

5-year CAGR of total debts = 18.5% 5-year CAGR of total assets =28.8%

Note: 1. Total debts = Current and non-current interest-bearing borrowings + loans from related parties + convertible bonds; 2. Total capital = Total equity + total debts;3. Net debt = Total debts - Cash and bank and term deposits; Net capital = Total equity + Net debt;4. Off-balance sheet items

Integrated Finance (Wealth) Industrial Operations

Insurance

Investment

Wealth Management and Innovative Finance

Health

Happiness

Property Development and Sales

Resources

As at 31 December 2016, the Group’s total assets amounted to RMB 486,779.5mn, up 19.5% from the year ended 2015； As at 31 December 2016, equity attributable to owners of the parent reached RMB 92,367.0mn, up 21.9% from the year ended 2015； As at 31 December 2016, profit attributable to owners of the parent was RMB 10,268.2mn, up 27.7% from 2015.

Note: 1. As Nanjing Nangang Iron & Steel United Co., Ltd. has ceased to be a subsidiary of the Company since the end of 2015, the Group's investments in the steel industry were classified into the investment segment since 1 January 2016.

RMB mn Profit (loss) attributable to owners of the parent

Integrated Finance (Wealth) Insurance Investment Wealth Management and

Innovative Finance 2016 2,411.3 4,297.5 863.0 2015 2,104.2 3,787.4 596.0

RMB mn Profit (loss) attributable to owners of the parent

Industrial Operations Health Happiness Steel(1) Property Development & Sales

Resources

2016 1,222.8 414.4 - 3,098.9 -193.5

2015 1,099.2 175.1 -929.7 2,993.5 -463.5

Appendix 1: Fosun Group Business Segments

10

• In August 2016, preparatory work for the legal establishment of Fosun United Health Insurance Company Limited began, with Fosun Group as one of the shareholders. In January 2017, Fosun United Health Insurance obtained formal approval from China Insurance Regulatory Commission for establishment;

• The Fosun Group holds a 20% equity stake

RMB mn Investable Assets(3) Cost of Investable Assets(3) Total Investment Return(3)

Interest Spread based on Total Investment Return

2016 2015 2016 2015 2016 2015 2016 2015 Fosun Insurance Portugal 100,714 98,373 1.0% 2.3% 3.2% 4.7% 2.2% 2.4%

Ironshore 37,907 33,138 0.6% -2.0% 3.2% 1.3% 2.7% 3.2% Yong’an P&C Insurance 11,350 10,856 -1.1% -1.4% 7.2% 10.0% 8.3% 11.4%

MIG 10,678 10,199 1.1% 0.1% 3.2% 2.9% 2.1% 2.8% Peak Reinsurance 8,458 5,929 -1.1% -1.0% 1.5% 6.4% 2.6% 7.4%

Pramerica-Fosun Life Insurance 2,024 1,903 11.4% 17.7% 3.9% 6.9% -7.5% -10.8% Total Equity 147,159 135,101 0.8% 1.0% 3.3% 3.9% 2.5% 2.9%

Breakdown of Insurance Assets Allocation Attributable Insurance

Assets Classes %

2016 2015

Fixed income investments 71.9% 67.5%

Equity investment 10.8% 12.4% Investment property and

others 8.8% 7.7%

Cash and cash equivalent 8.5% 12.4%

Fosun Insurance Portugal 84.986%

Europe Comprehensive

Insurance

Pramerica-Fosun Life Insurance

50%

Mainland China Life Insurance

Mainland China Property Insurance

Yong’an P&C

Insurance 40.68%(2)

USA Labor Insurance

MIG

100%

Ironshore 100%

USA Specialty Insurance

Lexon 100%

US Guaranteed

Insurance

Peak Reinsurance

86.93% NAGICO

50%

Caribbean Property Insurance

China HK Re-insurance

Appendix 2: Insurance

Fosun United Health Insurance

Mainland China Health

Insurance

Fosun United Health

Insurance 20%

11

Insurance Run off

• The first enduring life insurance asset package was approved by The German Regulation Authority, Bafin, at the end of 2016. The acquisition was completed in early 2017.

(1)

Notes: 1. In December 2016, Fosun Group and Liberty Mutual entered into the stock purchase agreement, to sell the 100% equity interest in Ironshore and is expected to complete the transaction in 1H2017. 2. On 31st December 2016, Fosun Group’s equity interest in Yongan Property Insurance increased to 40.68% (The original holding was 19.93%). 3. Please refer to appendix 3 for the formula of the calculation.

Investable assets include insurance float of insurance companies (from sedimentary money from insurance business), capital invested by shareholders and retained earnings, etc. which are available for onshore and offshore investment activities. Including: fixed income investment, equity investment, infrastructure investment, property investment and cash and cash equivalent

Cost of investable assets are estimated based on underwriting profits and interests and dividends attributable to policyholder

Total investment return = (net investment return + bid/offer spread + gain or loss on changes in fair value of financial assets held for trading + impairment loss on investment assets + share of profits and losses of associates) / average investment assets

Appendix 3: Return on Investment Formula for Insurance Company

12

Notes： 1. The above calculation covers the securities investments of the Group in the secondary markets; however, it does not contain its interests in listed subsidiaries and associates,

or the securities invested by associates or funds of the Group; 2. A: Equity investments at fair value through profit and loss; B: Available-for-sale investments; 3. Including deemed derivative interests of 390 mn shares.

Appendix 4: Significant Secondary Market Holdings Held by the Group

(1)

13

No. Stock Code Stock Name Number of Securities

(As at 31 December 2016) Percentage of Total Number of shares

Accounting

Treatment(2)

1 002027.SZ Focus Media 666,041,572 7.62% B

2 01988.HK Minsheng Bank (3)

773,019,800 2.12% A

3 002078.SZ Sun Paper 190,000,000 7.49% B

4 02799.HK China Huarong 500,000,000 1.28% B

5 TCG.LN Thomas Cook 153,180,979 9.98% B

6 FFGRP.GA Folli Follie 6,695,460 10.00% A

7 SINA.NASDAQ SINA 1,973,055 2.78% B

- SINA Convertible Bonds 237,300 N/A B

8 YY.NASDAQ YY 2,212,045 4.00% B

- YY Convertible Bonds 769,645 N/A B

9 01833.HK Intime 112,417,500 4.15% B

10 0966.HK China Taiping 44,669,200 1.25% B

500,000 0.01% A

14

Sales of assets Sales of Ironshore: total value of transaction was around USD3 billion; the unaudited after-tax income to be recognized will be around USD310 mn.

Completion of project

Tang Residence: Presale of villas and apartments started in November of 2016. As of 20 March 2017, 70% of the units were sold through contracted sales and subscription; Sales target was completed two years ahead of schedule; Domestic Property Sales: In 2016 attributable contracted sales amounted to RMB24.36 billion, up by 47.8% compared with that in 2015.

PE project - IPO From early 2016 to the present, the projects (Bocom Smart Network Technologies, Zhejiang XCC, Yunda Holding, Eurocrane, Poten Environmental Group, Megmeet, Juewei Food) that Fosun had invested in succeeded in IPOs through backdoor-listings or mergers.

Expiration of lock-up period of stocks

Focus Media: lock-up period of shares expired in December 2016; China Huarong: lock-up period of shares will expire at the end of August 2017.

Asset securitization

J-REITs: established by IDERA and a third party, and was later listed on Tokyo’s Stock Exchange in December 2016 with market capitalization of JPY100 bn; Forte issued RMB1.5 billion worth of ABS based on property management fees on 29 July 2016 with financing cost of 4.98% per annum with a term of five years; Approval for issue of RMB1.5 billion worth of ABS based on remaining receivables of Forte property sales with a term of five years was gained from Shanghai Stock Exchange on 22 December 2016. Offering this security is similar to the effect of early collection of mortgages.

Issue of shares by listed companies

Fosun Pharma completed non-public offering of 100,436,681 A shares at RMB22.90 per share in November 2016, raising total capital of approximately RMB2.30 billion; Hainan Mining issued 88,050,314 shares at RMB10.14 per share in February 2017, raising total capital of RMB890 million.

Appendix 5: Improve Liquidity through Various Channels

15

2012 2013 2014 2015 2016

Return on assets of non-insurance business

6.30% 7.20% 7.40% 7.40% 6.90%

Interest rate 5.75% 5.73% 5.61% 4.97% 4.47%

Spread (Non-insurance) 0.50% 1.44% 1.77% 2.44% 2.43%

Total investment return of insurance business

- - 5.7% 3.9% 3.3%

Cost of investable assets of insurance business

- - 2.8% 1.0% 0.8%

Spread (Insurance) - - 2.9% 2.9% 2.5%

Appendix 6: Stable Net Interest Margin

16

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