3rd ANNUAL GENERAL MEETING

6 June 2014

TUNE INS HOLDINGS BERHAD

Agenda

1 2013 Overview

2014 Status Update & Key Strategies

Final Remarks

2

3

2

2013 Overview

3

2013 has been a defining year for

4

226.7

388.1

FY12 FY13

Operating Revenue

48.5

72.5

FY12 FY13

Profit After Tax

11.7

20.6

FY12 FY13

Investment Income

TIH - Key Highlights

71.9% 76.0% 49.5%

YoY growth, RM mil

5

70.5

102.6

FY12 FY13

Gross Written Premium

37.3

53.4

FY12 FY13

Profit After Tax

68.0

98.4

FY12 FY13

Net Earned Premium

Online - Key Highlights

45.7% 44.6% 43.2%

YoY growth, RM mil

Policies Issued Customer Enquiries Handled

YoY growth, RM mil

6.0

8.0

FY12 FY13

13.9

25.1

FY12 FY13

YoY growth, thousand

33.9% 80.7%

6

250.4

340.3

FY12 FY13

Gross Written Premium

28.6 27.1

FY12 FY13

Profit After Tax

137.6 140.5

FY12 FY13

Net Written Premium

TIMB - Key Highlights

89.9 mil Underwriting profit of 6%2.9 mil

RM mil

7

2014 Status Update & Key Strategies

8

FY2012

Our journey...

Q3 FY09Set up Labuan based captive JV “Tune Insurance Labuan”

Q4 FY10Management team enhanced to realize the full potential of the Insurance opportunities

Q2 FY11Formed TMGR(now known asTGR) and TMLR(now renamedTLR) & signed 1st

CollaborationAgreement withAA. TIH wasformed as theGroup HoldingCompany

Q4 FY 11First premiums received in TMGR

Q2 FY12Acquired Oriental Capital Assurance (renamed to Tune Insurance Malaysia Berhad)

Q3 FY12Signed Distribution Agreement with AA & Tune Hotels to manage Travel Insurance

Q1 FY13Listed on Main Market of Bursa Malaysia with market cap of RM 1 billion.

Q2 FY131. Signed Strategic

Partnership with Malayan Insurance to manage CEBU Pacific Air Int’l Passenger Travel Insurance

2. TIH and TGR were assigned “A1/P1” ratings from RAM ServicesQ4 FY131. Launched CEBU

TravelSure to Thailand market

2. Received Brand Award from The Brand Laureate for 2013

FY2013

1. Formed and launched JV with Cozmo travel in UAE

2. Set up Tune Protect Commercial Brokerage LLC (Tune Protect) in UAE to provide travel insurance to Air Arabia passengers

3. Investment in 49% equity in Osotspa Insurance Co., Thailand

4. Investment in 49% equity in Permpoonsub Broker Public Co. Ltd (PPS) Thailand

5. Launched Tune Insurance Hotel Guest Cover for Tune Hotel guests in Malaysia

6. Launched Human Resource’s Risk Mgmt Solution Product for 600,000 SMEs In Malaysia

FY2014

FY2011

FY09-FY10 9

Notes:

1. Shareholders: Tan Sri Dr Tony Fernandes (50%) and Dato’ Kamarudin Meranun (50%)

2. The remaining 16.7% is owned by minority and unrelated shareholders.

3. The remaining 20.0% is owned by Multi-Purpose Capital Holdings Berhad

4. The remaining 51% is owned by various Thai partners including Osotspa Co., Ltd

5. The remaining 51% is owned by Cozmo Travel LLC

CIMB SI II Sdn Bhd.Tune Group Sdn.

Bhd.1 AirAsia Berhad

Tune LifeRe Ltd(TLR)

Tune GenRe Ltd(TGR)

Tune Insurance Malaysia Berhad

(TIMB)2

Tune Insurance (Labuan) Ltd

(TIL)3

25.07% 16.19%

100% 100% 83.3% 49%

14.06%

Tune Direct Ltd(TDL)

Tune Direct Malaysia Ltd

(TDM)

100%

100%

Retail / Institutional Investors

44.68%

Tune Ins HoldingsCorporate Structure

10

OsotspaInsurance Public

Co. Ltd (OSI)4

80%

Tune Protect Commercial

Brokerage LLC (Tune Protect) 5

49%

PermpoonsubBroker Public Co. Ltd (PPS)4

49%

TIH - 1Q 2014 Key Financial Highlights

Operating Revenue (RM’mil) Profit After Tax (RM’mil)

Earnings Per Share (sen) Shareholder’s Equity (RM’mil)

TIMB CAR ratio (%) Borrowings (RM’mil)

86.7114.0

1Q 2013 1Q 2014

15.2 20.4

1Q 2013 1Q 2014

269.7

283.5

FY2013 1Q 2014

360.5

379.2

FY2013 1Q 2014

2.07 2.56

1Q 2013 1Q 2014

RM 20.4mRM 114.0m

2.56 sen RM 379.2m

283.5%NIL

11

24%

34%31%

14%

5%

12

Leverage on AirAsia’s Growth and Assets

Replicate & Expand Travel Insurance Business Model

Establish Digital Innovation and Drive Business to Consumer Platform

Enhance Revenue Streams via Strategic Acquisitions

Expand to all markets where AA operates including new markets

Manage insurance needs of AA’s customers beyond Travel Insurance

Tailored marketing efforts to increase penetration rate

Plans & Strategies

Capture Synergies

from TIMB

Integration &

Diversify Product

Offering

Broaden our ability to offer a range of products

Expand beyond travel insurance through Business-to-Consumer (B2C) distribution

Selectively seeking opportunities to acquire businesses with the relevant licenses in Thailand & Indonesia

Capture underwriting revenue previously ceded to third party insurance partners in these markets

Improve profitability and portfolio mix

Develop good quality sales / distribution channels

Technology improvement to enhance operational efficiency and efficacy

Leverage on opportunities within and via AirAsia and Tune Group of Companies

Expand our travel insurance business by establishing tie ups with other partners e.g. other airlines, hotels and travel agents

Leverage on knowledge and experience gained from new market entrance / partnerships for future partnerships

Our aspiration - to be a RM6+ billion market cap company by FY2018

Leverage on AirAsia’s Growth and Assets

Effective partnerships across 17 AsiaPacific countries & territories

Launched Myanmar & Taiwan in FY13

Launched Brunei in Q1FY14

Signed DA with Thai Air Asia X inQ1FY14

Readying for AA India launch

13

Hong Kong

Thailand

India

Malaysia

Singapore

Indonesia

Australia

Philippines

China

Taiwan

Japan

Vietnam

Brunei

Macau

Cambodia

Myanmar Laos

I BUSINESSINTELLIGENCE

2014 - Continue to enhance MIS & BI

Replicate & Expand Travel Insurance Business Model

Launched Tune Insurance Hotel Guest Coverfor Tune Hotel guests in Malaysia

Made way into MENA region - launched Cozmo in April 2014

Launched Air Arabia in May 2014

2014 – Additional tie-ups14

Establish Digital Innovation and Drive Business to Consumer Platform

Tune Drive CareTune Guard Tune EZ Term

Launched 3 products namely Tune Guard, Tune Drive Care & Tune EZ Term

Progressively focus on B2C products to drive traffic to the website via eDM

15

Capture Synergies from TIMB Integration & Diversify Product Offering

1Q 2013

1,144Total agents

Home Guard Insurance

SME Group Hospital & Surgical Insurance Tune Sihat Medical

Insurance

Human Resource’s Risk Management Solution Product

All-in-one SME Insurance Package

2014 - Continued bottom line growth

Personal Accident Safe

Medident Dental Insurance

Office Insurance

New Products launched in FY13 & Q1FY14 Well balanced of Portfolio Mix

2013

1,140Total agents

1Q 2014

Recruitment of quality agents continue

Fire22%

Motor, 27%

Marine, 3%

PA & Medical

22%

Misc26%

Fire, 21%

Motor, 22%

Marine, 12%

PA & Medical,

32%

Misc, 13%

1Q 2014Home Owner

Insurance

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Selection of recent deals across various industries

Petronas National Berhad Shell Refining Company Yinson Holdings Berhad KLK Group Bell Group Kossan Group

Oil & Gas Refinery Oil & Gas Plantations Crude Palm Oil Rubber

Daihatsu Toyota Hyundai Naza Group MUI Group Muhibbah Engineering (M) Bhd

Auto Auto Auto Conglomerate Conglomerate Construction

Emico Holdings Berhad Boon Siew Group Star Publication (M) Berhad Ann Joo Resources Hiap Teck Venture Berhad Press Metal Berhad

Property Property Media Steel Steel Aluminium

AirAsia Salcon Berhad Favelle Favco Berhad Century Logistics Tomypak Berhad Evergreen Fibreboard

Airline Water & Sanitation Crane Technology Logistics Services Packaging -Food Manufacturing -Fibreboard

London Biscuits Holdings Berhad

Ralco Corporation Berhad

Versatile Creative Berhad Khee San Berhad Teck Seng Holdings Berhad

Heveaboard Berhad

Manufacturing - Food Manufacturing –Plastic containers

Manufacturing - Paper Manufacturing -Candy Manufacturing - Plastic Manufacturing - Furniture

17

Enhance Revenue Streams via Strategic Acquisitions

Thailand

A 49% stake in Osotspa Insurance Public Co. Ltd (OSI)by TIH, 26% held by existing shareholders & 25% heldby other Thai partners

OSI has a balanced product portfolio consisting ofamongst others, fire, motor, marine andtransportation insurance.

Moving forward, OSI will be the underwriter of ourtravel insurance business in Thailand

Will continue to provide insurance for Osotspa Co.,Ltd, a strong household name in the production ofbeverage drinks and with diversified businesses acrossvarious industries

Focus on leveraging merged entity’s group assets andnetwork to achieve greater synergies

Next acquisition target

Indonesia

18

Continuous Support from Our People & Partners

Our Partners Our Directors Our Employees

19

Final Remark

20

To our shareholders, customers & business partners, we are grateful to you for your

continued support

21

Gives you access wherever you are

Q & A

24

25

List of Q&A in regards to queries from Bhupinder Singh (individual shareholder)

Congratulations on your commendable performance in 2013 over 2012 with good growth rates for operating revenue and profit

after tax up 50%. These fundamentals are reflected in the steadily increasing share price almost double its lowest profit.

1. Going forward what KPIs and targets have you set for 2014 and which you will strive to achieve or exceed for the following:-

a. Number of policies

b. Operating revenue

c. Profit after tax

d. Insurance portfolio mix by class – which for 2013 is a healthy mix

e. Dividend payout ratio

f. ROE

g. Others

Our KPIs are very much reflected in our strategies as we target to continue to i) grow faster than Air Asia grow ii) continue

bottom line growth for TIMB iii)Thailand acquisition & middle east to be accretive in 2014, iv) progressively focus on B2C

platform, v) new acquisition in Indonesia & vi) new travel partnerships.

You will also be pleased to know that all senior management including TIH, TGR or TIMB have TSR as a KPI. In terms of themetrics you have mentioned which we give most priority to are number of online policies, PAT and operating revenue.Portfolio mix is seen very much as an enabler.

2. What priority areas are you tuned up for further development of your business for 2014 and beyond domestically and

regionally catalysing on the growing economic activity and the potential to tap insurance business with its low penetration

rate of only 4-5% in ASEAN compared with double digit rates in the developed countries (eg Japan 20%).

We will stay very much aligned to the strategies outlined. We believe that keeping to these strategies we can build a multi

billion company by FY2018. For Thailand (and likely Indonesia) we are evaluating mass market strategies (hopefully some

exciting announcements when we launch).

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3. What is your involvement in the fast growing Takaful insurance products?

Our involvement to date has been minimal though our online platforms have been built to cater for life, general and Takafulproducts. Malaysia dominates the Takaful space in Asia accounting for just over 10% of general insurance business inMalaysia and we expect in the coming quarters to have a Takaful offering here. Indonesia we have been presented with avery interesting Takaful opportunity which we are currently assessing. As our MENA business expands, certain of ourmarkets will be Takaful markets too.

4. How do you see the potential being exploited through yours and Cozmo Joint Venture in Tune Protect CommercialBrokerage LLC with your 49% equity in it? What are Cozmo fundamentals and how rosy is its future and contribution to thejoint venture company?

The Cozmo JV is fantastic for us. Through this vehicle we are not only the insurer for Cozmo’s fast growing travel agency butfor Air Arabia. Despite UAE being still largely an offline market we have already sold US$ 100k (10k policies) of business inthe couple of weeks since we have launched. It has also given us a platform to operate in the Middle East and we are nowready to execute on further MENA opportunities.

5. What progress are you making to extend your online travel insurance business by arranging it from other airlines just as you have done with Cebu Pacific Air?

We launched with Air Arabia on 21 May 2014 and we are also in the midst of discussion with multiple other airlines.

6. Have you experienced a more than normal increase in your airline travel insurance business since the missing MH370 jetprimarily resulting from passenger preference for Air Asia and AAX over MAS which, since March 8th has had furthermishaps?

MH370 incident has certainly raised awareness of the need for travel insurance leading to more people buying. Interestinglydata coming out of the MH 370 disaster showed the vast majority of passengers and particularly Chinese passengers havinginsurance.

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7. How will GST impact your business after April 2015?

The main impact is the time and effort involved in understanding GST, updating systems etc. From a profit perspective wedon’t see any significant impact. We are being advised by one of the big 4 tax firms and believe our progress to date is ontrack.

8. You have boosted your agency force considerably with 60% of the business sourced from them. What is the commissionstructure for agents?

General insurance is highly regulated in Malaysia as commissions rates are regulated and set by the Central Bank. Eg. 10%motor; 25% PA; 15% Fire etc.

9. Motor and fire insurance business will be completely detariff w.e.f 2016 and this will engender fierce competition. Howwell are you preparing to meet this challenge? May be you want to call the tune by adopting a low cost insurance model onthe lines of Air Asia and AAX - so that everyone can insure with Tune Insurance Malaysia Berhad.

We are very much looking forward to detariffing as we believe it will be good for most consumers as well as for insurerssuch as ourselves with large digital databases. We have invested in analytics and are investing in our Tune Direct platformand are engaging with reinsurers as part of our preparation.

10. Have you thought of promoting your business through a well composed tuneful ear catching song? With his musicbackground, Tan Sri Dr Tony Fernandes can help.

Interestingly this is an area we have started looking into prompted by our Thai company that does have a motivatingcompany song.

11. Are you doing any bancassurance business through any bank and if so, on what scale?

We are not doing any bancassurance business with any bank currently other than some inward reinsurance in respect of a major Thai bank. We are more likely to pursue bancassurance in Thailand, Indonesia and MENA rather than Malaysia.

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12. Are you involved in pioneering business through insurance brokers?

We wouldn’t say so much pioneering business but brokers are an important channel for us and thus we have dedicatedstaff focused on building our broker relationships.

13. To what extent are you insuring air cargo (online or otherwise) and other aviation related business?

We are the top 10 insurer for Marine Cargo (inclusive of air, sea & land) in Malaysia with >5% of market share. We havesteered clear of Aviation hull and liability business as the risk reward equation does not match our risk appetite.

14. What is the role, if any, of Tune Insurance in the insurance of AirAsia, AirAsia X, Tune Hotels and all other relatedcompanies?

We are very thankful for the support we get from AA, AAX and all the Tune companies which always give us anopportunity to pitch for business and select us if we are competitive.

15. Are you exploring the opportunities for Tune Insurance to expand its insurance business in Singapore on a larger scale?

Yes we are exploring together with our partner in Singapore EQ and may offer some products on our Tune Direct platformin due course.

16. Please disclose the underwriting result of each of your main classes of insurance business.

Fire, TPA/PA and workman compensation (WC) enjoy healthy underwriting margins whereas motor is marginally unprofitable before MMIP.

17. What are your ratios for Management expenses (ME), commission, claims, total outgo and how do they compare with industry averages?

As at FY13, our ME is 24%, commission is 15%, Claims is 39% which resulted in our combined ratio of 78%. Combined ratiois the ratio that we focus on. For example, we reinsure 25% of our motor which reduces our NEP and claims but increasesour ME. On the other hand, our commission is higher mainly because we sell a lot of PA in where the regulatedcommission is 25%. If we sold motor (which loses money), we would have lower commission and higher claims.