Fourth Quarter and Full Year 2019

Results Presentation

2

Disclaimer

The information in this presentation is provided to you by OneConnect Financial Technology Co., Ltd. (the “Company”) solely for informational purpose and does not constitute an offer to buy or sell or solicitation of

an offer to buy or sell, any securities of the Company in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or

commitment whatsoever in the United States or anywhere else. Specifically, this presentation does not constitute a “prospectus” within the meaning of the U.S. Securities Act of 1933, as amended (the “Securities

Act”). No securities of the Company may be offered or sold in the United States without registration with the U.S. Securities and Exchange Commission (the “SEC”) unless pursuant to an available exemption from

the registration requirement of the Securities Act. This presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and special considerations

involved with an investment in the securities of the Company.

This presentation does not constitute legal, regulatory, accounting or tax advice to you. This presentation does not constitute and should not be considered as any form of financial opinion or recommendation by the

Company or any other party.

Thus presentation contains “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act

of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “explore,” “confident” and similar statements.

Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of

which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ

materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s limited operating history in the technology-as-a-service for financial institutions industry; its

ability to achieve or sustain profitability; the tightening of laws, regulations or standards in the financial services industry; the Company’s ability to comply with the evolving regulatory requirements in the PRC and

other jurisdictions where it operates; its ability to maintain and enlarge the customer base or strengthen customer engagement; its ability to maintain its relationship with Ping An Group, which is its strategic partner,

most important customer and largest supplier; its ability to compete effectively to serve China’s financial institutions; the effectiveness of its technologies, its ability to maintain and improve technology infrastructure

and security measures; its ability to protect its intellectual property and proprietary rights; risks of defaults by borrowers under the loans for which the Company provided credit enhancement under its legacy credit

management business; its ability to maintain or expand relationship with its business partners and the failure of its partners to perform in accordance with expectations; its ability to protect or promote its brand and

reputation; its ability to timely implement and deploy its solutions; its ability to obtain additional capital when desired; disruptions in the financial markets and business and economic conditions; the Company’s ability

to pursue and achieve optimal results from acquisition or expansion opportunities; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the

Company’s filings with the SEC. The Company, its officers, advisors, or representatives undertakes no obligation to update or revise these forward‐looking statements for events or circumstances that occur

subsequent to the date of this presentation, except as required under law.

The unaudited consolidated financial information is prepared in accordance with International Financial Reporting Standards (IFRS). This presentation contains certain financial measures that are not recognized

under the IFRS. Non-IFRS measures are used in gross profit and gross margin, adjusted to exclude non-cash items, which consist of amortization of intangible assets recognized in cost of revenue, depreciation of

property and equipment recognized in cost of revenue, and share-based compensation expenses recognized in cost of revenue. The Company regularly reviews non-IFRS gross profit and non-IFRS gross profit

margin to assess the performance of its business. By excluding non-cash items, these financial metrics allow the Company to evaluate the cash conversion of one dollar revenue on gross profit. The Company uses

these non-IFRS financial to evaluate its ongoing operations and for internal planning and forecasting purposes. The Company believes that non-IFRS financial information, when taken collectively, is helpful to

investors because it provides consistency and comparability with past financial performance, facilitates period-to-period comparisons of results of operations, and assists in comparisons with other companies, many

of which use similar financial information. The Company also believes that presentation of the non-IFRS financial measures provides useful information to its investors regarding its results of operations because it

allows investors greater transparency to the information used by the Company in its financial and operational decision making so that investors can see through the eyes of the Company’s management regarding

important financial metrics that the management uses to run the business as well as allowing investors to better understand the Company’s performance. However, non-IFRS financial information is presented for

supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from similarly-titled non-IFRS measures used

by other companies. In light of the foregoing limitations, you should not consider non-IFRS financial measure in isolation from or as an alternative to the financial measure prepared in accordance with IFRS.

Whenever the Company uses a non-IFRS financial measure, a reconciliation is provided to the most closely applicable financial measure stated in accordance with IFRS. You are encouraged to review the related

IFRS financial measures and the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures. For more information on non-IFRS financial measures, please see

the table captioned “Reconciliations of IFRS and non-IFRS results (Unaudited)” set forth at the end of this presentation.

THE INFORMATION CONTAINED IN THIS DOCUMENT MAY NOT BE FORWARDED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON (WHETHER WITHIN OR

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REPRODUCTION OF THIS DOCUMENT IN WHOLE OR IN PART IS UNAUTHORIZED.

3

An Impressive Scorecard in 2019

Notes:

(1) Third-party customers refer to customers with revenue contribution of less than 5% of total. These customers are a key focus of the Company’s diversification strategy

(2) Premium customers refer to customers that contribute revenue of at least RMB100 thousand during the respective period, excluding Ping An Group and its subsidiaries

(3) Amount of loan processed

97% YoY increase65% YoY increase

Revenue Gross Profit

5.8 ppts YoY improvement

Operating Margin

A surge of 114% YoY

Number of Premium

Customers (2)

107% YoY increase

Revenue from

Third-party Customers (1) Transaction Volume (3)

161% YoY increase

4

Our Vision

12

3

4

• Started as the financial technology

solution arm of Ping An

• Separated out in 2015

• Three-step customer strategy

• Initial success in Southeast Asia

expansion

• Upselling of products and services

• Increasing transaction volume with

customer growth

Platform Incubation

Customer Acquisition

Profit Growth

Wallet Share Increase

• Improving gross margin by

strengthening product mix

• Improving operating leverage

through economies of scale

The World’s Leading

TaaS Platform for

Financial Institutions

Business Highlights1

6

A Leading TaaS Platform for Financial Institutions in China

Full Scope Offerings Across Verticals

Banking InsuranceAsset

Management

Front office

Middle office

Back office

Value Creation for Digital Transformation

Generating

new revenue

Enhancing

service quality

Improving sales

productivity

Managing

risks

Reducting

costs

Technology

Business

Gamma OCore Banking

Blockchain

Platform

Cloud

Management

AI+ Risk

Management

AI+ Sales &

Marketing

AI+ Product

Development

AI+ Operation

Management

7

Our Value Proposition

• Demand:

inevitable trend of

digital

transformation for

financial institutions

• Supply:

lack of in-house

capability and

limited full-service

third-party options

• TAM:

China US$56bn +

East Asia/SEA

US$64bn in 2023 (1)

• Solution:

full-scope, full-

stack solutions

covering all

verticals

• Scalability:

50+ AI modular

products and

easily plugged into

60+ core banking

systems (2)

• Customer

Development:

adopt-deepen-

integrate approach

with 3,707 total

customers(2) and 473

premium customers(3)

• Revenue Model:

72% transaction-

based revenue (2);

proven highly

recurring with

business upside

• Application

Technologies:

global award-wining

AI + blockchain +

cloud + open API

platform

• Infrastructure &

Partnership:

strategic partnership

with Ping An Group

with access to

state-of-the-art tech

infrastructure

Massive

Market

Distinctive

Platform

Unique

Business Model

Cutting-edge

Technology

Notes:

(1) US$56Bn total technology spending for financial institutions in China and US$64bn total technology spending for financial institutions in East Asia and Southeast Asia in 2023; 1 US$ = 7.1477 Rmb

(2) As of December 31, 2019

(3) Premium customers in 2019; premium customers refer to customers that contribute annual revenue of at least RMB100 thousand, excluding Ping An Group and its subsidiaries

1 2 3 4

• Footprint:

established

partnership with

47 customers

across 14

countries and

regions(2)

• Coorperation:

coorperating with

leading financial

institutions across

Southeast Asia

and beyond

Overseas

Expansion

5

8

At a Sweet Spot to Support the Massive Demand in Digitalization

Sources: PBOC, CBIRC, Oliver Wyman

Notes:

(1) As of 2018

(2) 62,000+ financial institutions include 4,500 banking institutions, 180+ insurance companies, 24,000+ asset managers and others;

9,000+ target financial institutions include ~1,000 banking institutions, ~150 insurance companies and ~8,000 asset managers

(3) Total addressable market; From Oliver Wyman; Representing US$56 billion total technology spending for financial institutions in China and US$64 billion total technology spending for financial institutions in East Asia and Southeast Asia in 2023

Business

BudgetIT

Spending

Massive Need for Third-party Solutions

2023 China TAM (3)

~US$56 billion

2023 Asia Target Market TAM (3)

~US$64 billion

Further Upside from

Business Budget

Massive Scale of Chinese Financial Institutions (1)

9,000+

62,000+ (2) US$47 trillion

# of FIs Asset size

~80%

of Total

Assets

of FIs

Target

9

End-to-End Solutions Combining Technology and Business Insights

Auto Insurance

Operations and

Services

Asset

Management

To be launched

Retail SME

Sales & Marketing

Risk Management

Operation Management

Digital Retail

Banking

SME Financing

and Services

Risk Management

– Retail Banking

Risk Management

– SME Banking

Product Development

Technology &Infrastructure

Gamma O

Blockchain Network-as-a-Service

Cloud Management

72

43

11

Asset-Liability Management8

AI Customer Service

Core Systems

9

Banking

Insurance

Sales Management

Regtech

10

6

5

12

1

Note: As of December 31, 2019

Insurance Asset Management

13

Launched in 4Q2019

10

Product Highlight: Core Banking

Information exchange center (online API & batch processing)

GL, reporting, regulation, ALM, pricing

Scenario integration & business partnership

OpenBank API

Big data risk management

Anti-fraud Bio-recognitionExpression recognition

Smart customer service

Smart customer acquisition

Smart investment advisory

Legacy core banking

system with basic

functions

Mobile bank App

360°customer

view

Payment

Wealth management

Credit card

LoanDeposit

E-account

Product factory Parameter factory

Inter-mediary

business

AI+ Risk

Management

AI+ Sales &

Marketing

AI+ Product

Development

Precision

Management

A Southeast Asian bank

• The 1st overseas full-scale core

banking system project

• Fast deployment of 17 systems

for full business scenarios in 6

months

PAO Bank

• 100% powered by

OneConnect’s core system and

solutions

A city commercial bank in

Western China

• Internet core + online credit

solution

Cloud-based Core System Operating in Parallel with Legacy System

Unified Account

Management

Unified Customer

Credit Management

Unified Data Structure

and Standard

Unified User

Access Control

16 banks onboard

11

Product Highlight: First Blockchain-backed SME Financing Platform in China

Onboard with 434 financial products

and 180 financial institutions

Targeting 11+ million SMEs

RMB2.7 billion loan applications

in two months after launch

Connected to 28 government entitis

with 219 data sources

Enterprise Profile Risk Management Credit Appraisal

56 risk management

tools in 9 categories,

covering whole lending

process

Pre-lending

During lending

Post-lending

Anti-fraud

Review

Loan management

Backed by financial

dataset incorporating

multiple governmental

data sources

• Finance

• Taxation

• Market supervision

• Social security

• Customs

• Judiciary

• Public services

Credit information

sharing mechanism for

SMEs across the

province

Government

FIs + 3rd parties

Public data

Operational

data

Information

aggregation

12

Product Highlight: AI Customer Service

Mini program

APP Web Video platform Interactive voice response

Text robot Audio robotSmart

outbound

Text robot interaction Audio robot interactionHuman interaction

Business system CSR assistant

Knowledge base

(label management, knowledge management, smart management, system management)

Customer

Input

Customer

Contact

Customer

Interaction

Processing

OneConnect AI solution Traditional customer service

Text channel Audio channelHigh-risk/

High-value

business

Complex

business

Simple

business

Collection/

follow up

Complex

business

Simple

business

Integration, interaction and

recommondation

Traditional

applications

Smart

assistance

ProcessingQ&A Processing Q&A

15 banks signed up for AI

virtual assistant module

>95% accuracy for AI

engines

Cross-channel Products for Customer Service Digitalization

Modular design for quick

implementaiton

Reduction in manpower and

cost

Applicable in all types of

financial institutions

13

Product Highlight: Smart Rescue

The 1st technology platform to

connect P&C insurers and

rescue service providers

31 banks and P&C entities

onboard

Proprietary IPs, 20+ domestic

applications

Improving customer experience

and efficiency of quality control

Smart Rescue PlatformInterface

H5

APP

Call center

Rescue

service

provider

Dispatching Onsite rescueInspection and

settlement

Smart work allocation

• Allocation rules configuration

• Smart mating

• Smart distribution

Smart dispatch

• Dispatching rules configuration

• Arrival time prediction

• Allocate/bid mode

Smart management

• Vehicle management

• Staff management

• Order management

Smart worker APP

• Smart working policy planning

• AI photo taking instructions

• One-click dialing

Smart repariment

• C to P online repariment interaction

• Supplier direct connection

Smart risk control and inspection

• AI image/OCR service process inspection

• Factors for risk control engine

Smart account reconciliation

• Automatic real-time settlement

• One-click application for settlement

Smart customer service

• Askbob

• IVR smart follow up interview

Smart alert

• Timing alert

• Complaints alert

• Catastrophe alert

Business

customers

100

thousand+

Rescue

manpower

Insurer

Bank

Auto

companies

14

Innovation to Support Financial Institutions During Coronavirus Outbreak

Source: CBIRC

Notes:

(1) As of 2017

(2) As of 2018

(3) As of 2019

(4) Company estimate

AI Sales

• Traffic police-insurer

information platform

• Online SME loan

• Online retail credit

• Smart contract

• Collection

• AI virtual assistant

• Telecommuting

solutions

• Smart Deposit

• Government Platform

• SAT

AI

Risk Management

AI

Customer Service

Smart Office

Smart Claims

RMB55 trillion total retail loan(3)

88,000bank call center employees(4)

728 billion P&C insurance claims(3)

8.7 million insurance agents(2)

4.2 million banking employees(1)

Examples of Potential Target for Our Solutions

15

High Value Solutions

Hook Products to Onboard Customers; High-value Solutions to Deepen Ties

Notes:

(1) Financial institutions with an average asset size of US$4 billion, which constitutes 81% of the total assets of the China's financial service sector, from Oliver Wyman

(2) As of December 31, 2019

(3) Data as of December 31, 2019. Premium customers refer to customers that contribute annual revenue of at least RMB100 thousand, excluding Ping An Group and its subsidiaries

Target Customers

~9,000 (1)

Total Customers

3,707 (2)

Premium Customers

473 (3)

Adopt Deepen Integrate

Hook Products Platform

Strategy

Customer Conversion

Product Offering

IT Spending Business BudgetPotential

16

221

473

Serving the Most Financial Institutions in China (1)

Robust Growth in Premium Relationships

Notes:

(1) As of December 31, 2019

(2) Premium customers refer to customers that contribute revenue of at least RMB100 thousand during the respective period, excluding Ping An Group and its subsidiaries

Number of Premium Customers (2)

2018 2019

Strong Growth of Premium Pool

+114%

All nationwide banks

99% city commercial banks

52% insurance companies

17Notes:

(1) As % of 2019 revenue

Volume-based

Usage-based

Product-based

• Business origination services

• Credit management system

• Fast claim module

• AI customer service

• Smart contract module

Transaction-based

Revenue: 72% (1)

Post-implementation

Support and Others

Revenue: 3% (1)

Implementation

Revenue: 25% (1)

Low Threshold for

Adoption

Great Growth

Potential

Access to Business

Budget

Transaction-based Model Well Positioned to Capture Market Potential

18

1.2

5.0

2018 2019

9.9

39.1

2018 2019

Strong Increase in Transaction Activities

Retail Loan

Served

Auto Insurance

Fast Claim

Usage

SME Loan

Served

+128%

+294%

+315%

40.0

91.2

2018 2019

(RMB billion)

(RMB billion)

(million)

19

Gaining Recognition for Technology Capability

International AwardsDomestic Achievements

Designated National New

Generation AI Open Platform

(financial inclusion)

Designated National High and

New Technology Enterprise

Awarded 2019 Top 100 Fintech

Companies in China

Designated New Generation

AI Open Platform by

Guangdong Provice

Appraised at CMMI Level-5 (highest level) for software

maturity level

Ranked 62nd in 2019 Top 100 Global Fintech Companies, up by

14 from 2018

1st prize in

• Association for Computational Linguistics text dialogue

emotion recognition competition

• Digital reasoning reading comprehension challenge

(DROP)

• Stanford Question Answering Dataset 2.0 (SQuAD)

Challenges

• 2019 Stanford DAWN Deep Learning Benchmark

competition

1,893 total new IP applications 406 overseas applications (1) (1)

Notes:

(1) In 2019

20

Expanding Footprints Beyond China

Joint venture with SBI

Japan

Serving 3 top national banks

Thailand

Singapore

Launch of cross-border trade and financing platform for

Hong Kong Monetary Authority

Hong Kong

• Cooperation with one of the largest conglomerates

• Partnering with a leading traditional market association

Indonesia

Partnering with a fintech subsidiary of one of the

top 10 local banks

The Philippines

Strategic partnership with a leading conglomerate

Korea

Serving one of the largest

domestic banks

Malaysia

GermanyPartnership with fintech

venture builder Finleap

Note:

(1) As of December 31, 2019

47 overseas customers in 14 markets(1)

Financial Highlights2

22

Full Year Ended December 31 Three Months Ended December 31

(RMBm, except percentages

and per share figures) 2018 2019 YoY% 2018 2019 YoY%

Revenue 1,413 2,328 64.7% 511 773 51.3%

Gross Profit 389 767 97.3% 148 260 75.3%

Gross Margin 27.5% 32.9% 29.0% 33.6%

Non-IFRS Gross Margin (1) 43.6% 46.4% 41.9% 41.1%

Operating Loss -1,114 -1,701 -539 -581

Operating Margin -78.8% -73.1% -105.4% -75.2%

Net Loss to Shareholders -1,196 -1,661 -621 -619

Net Loss per Share (RMB) -1.29 -1.77 -0.66 -0.65

Key Financial Metrics

Note:

(1) Non-IFRS gross margin adjusted to exclude non-cash items including amortization of intangible assets recognized in the cost of revenue, depreciation of property and equipment recognized in the cost of revenue, and

share-based compensation expenses recognized in the cost of revenue. For more details on this non-IFRS financial measure, please see the table captioned “Reconciliation of IFRS and Non-IFRS Results (Unaudited)”

set forth at the end of this presentation.

23

96 107

176204

244

297

362

511

448

522

585

773

1Q2017 2Q2017 3Q2017 4Q2017 1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 3Q2019 4Q2019

Consistent Track Record

(RMBm)

Quarterly Revenue

24

Strong Revenue Growth Led by Third-party Customers

(RMBm)

Revenue by Customer Type

27%13%

37%

43%

35%

44%

2018 2019

+65%

1,413

2,328

+107%

+89%

-23% 22% 15%

44%

41%

34%

44%

4Q2018 4Q2019

+51%

511

773

+98%

+40%

+3%

Third-party Ping An Group Lufax

Note:

(1) Third-party customers refer to customers with revenue contribution of less than 5% of total. These customers are a key focus of the Company’s diversification strategy

(1)

25

Further Diversification of Business Mix

Non-recurring

Revenue

Recurring

Volume-based

Revenue

Recurring

Fixed Revenue

Revenue by Business Nature

(RMBm)

21%

25%3%

3%

22%

25%

15%

14%

39%

33%

2018 2019

+65%

1,413

2,328

27%

30%5%

1%25%

35%

15%

7%

28%

26%

4Q2018 4Q2019

+51%

511

773

Business orgination Risk management Operation support ImplementationPost-implementation support and others

Recurring

Revenue at 70%

of Total

26

616

1,080

2018 2019

214

318

4Q2018 4Q2019

389

767

2018 2019

Continuous Margin Expansion

Notes:

(1) Adjusted to exclude non-cash items including amortization of intangible assets recognized in cost of revenue, depreciation of property and equipment recognized in cost of revenue, and share-based

compensation expenses recognized in cost of revenue

(2) For more details on this non-IFRS financial measure, please see the table captioned “Reconciliation of IFRS and Non-IFRS Results (Unaudited)” set forth at the end of this presentation

Gross Margin

148

260

4Q2018 4Q2019

+75%(RMBm)

29.0% 33.6%

Gross Profit

+48%

41.9% 41.1%

Non-IFRS Gross Profit (1)(2)

Non-IFRS Gross

Margin (2)

+97%

27.5% 32.9%

+75%

43.6% 46.4%

(RMBm)

27

Strengthening of Operating Leverage

R&D Spending as % of Revenue

32% 41%

26% 8%

2018 2019

58%49%

41% 41%

22%9%

4Q2018 4Q2019

63%49%

S&M Expenses as % of Revenue

G&A Expenses as % of Revenue

31%27%

2018 2019

44%

21%

4Q2018 4Q2019

37%33%

2018 2019

44%41%

4Q2018 4Q2019

Operational Margin

-79%-73%

2018 2019

-105%

-75%

4Q2018 4Q2019

R&D expenses Capitalization

28

Full Year Ended December 31 Three Months Ended December 31

(RMBm, except percentages) 2018 2019 2018 2019

Gross Profit 389 767 148 260

Gross Margin 27.5% 32.9% 29.0% 33.6%

Non-IFRS Adjustment (1)

Amortization of Intangible Assets 227 309 66 56

Depreciation of Property and Equipment 1 2 0 1

Share-based Compensation 0 2 0 1

Non-IFRS Gross Profit 616 1,080 214 318

Non-IFRS Gross Margin 43.6% 46.4% 41.9% 41.1%

Reconciliation of IFRS and Non-IFRS Results (Unaudited)

Note:

(1) Adjustment in cost of revenue

29

2020 Priorities

Boost Premium Relationship Optimize Product Mix

Maintain Cost ControlIncrease Transaction Volume

30

Success in Overseas Expansion

• Footprints in 14 markets, with 47 customers

Unique Model of Technology + Business Solutions

• 473 premium customers, up by 114% YoY

OneConnect: Supporting Financial Institutions in Journey of Digitalization

Strong Innovation Capability

• 1,893 new IP applications, of which 406 overseas

Full Scope Offerings Across Verticals• 13 solutions, 50+ products, 2,400+ APIs and 60+ core banking systems

Robust Financial Performance

• 107% increase in revenue from third-party customers; gross margin up by 5.4

percentage points