Tune Ins Holdings Berhad (948454-K)

Presentation

(Last Updated - November 2013)

2

By attending the meeting where this presentation is made, or by reading the presentation materials, you agree to be bound by the following limitations: The information in this presentation has been prepared by representatives of Tune Ins Holdings Berhad (“TIHB“) for use in presentations by TIHB and does not constitute a recommendation regarding the securities of TIHB. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information, or opinions contained herein. Neither TIHB nor any of TIHB's advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein is still in draft form and may be subject to updating, completion, revision, verification and amendment and such information may change materially. It should be understood that subsequent developments may affect the information contained in this presentation, which neither TIHB nor its advisors or representatives are under an obligation to update, revise or affirm. This presentation and the information contained herein does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities of TIHB. The securities of TIHB have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered, sold or delivered within the United States or to U.S. persons absent from registration under or an applicable exemption from the registration requirements of the United States securities laws. This presentation and the information contained herein is being furnished to you solely for your information and may not be reproduced or redistributed to any other person, in whole or in part in any manner. In particular, neither the information contained in this presentation nor any copy hereof may be, directly or indirectly, taken or transmitted into or distributed in the U.S., Canada, Australia, Japan or any other jurisdiction which prohibits the same except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of the United States or other national securities laws. No money, securities or other consideration is being solicited, and, if any is sent in response to this presentation or the information contained herein, it will not be accepted. By receiving this document, you acknowledge that you are an “institutional investor” within the ambit of Schedules 6 or 7 of the Capital Markets and Services Act 2007. This document should not be disclosed by you to any other person. By viewing this presentation, you are deemed to have represented and agreed that you and any customers you represent are not a U.S. person and are outside of the United States, and you are not acting for the account or benefit of a U.S. person (as defined in Regulation S under the Securities Act).

Disclaimer

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

3

Purpose of Presentation

1 Company Overview

2 Our Business

Pg 4

3

Pg 7

4

Pg 15

5

Financial Highlights Pg 24

Plans & Strategies

Pg 41

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Conclusion

1. Company Overview

4

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

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

CIMB SI II Sdn Bhd. Tune Group Sdn. Bhd.1 AirAsia Berhad

Tune Ins Holdings Berhad (TIH)

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% 80%

14.06%

Tune Direct Ltd (TDL)

Tune Direct Malaysia Ltd (TDM)

100%

100%

Retail / Institutional Investors

44.68%

Tune Ins Holdings Corporate Structure

5

6 Note:

* Hong Kong and Macau are considered as individual markets

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Business

Markets

Exclusive Arrangements

Profitability

Shareholders

Insurance product manager and underwriter (directly or indirectly) across Asia Pacific

Two core lines of business: Online and General Insurance

16 countries and territories*

Key – ASEAN and China

AirAsia, Tune Hotels, MICO (Cebu Pacific)

6 mil policies issued in 2012; 5.74 mil YTD (as at 3Q 2013)

Online : Low cost distribution model with high profit margins

General insurance : Focus on bottom line / underwriting profits

Tune Money and AirAsia; strong shareholder support from Tony and Kamarudin

Public largely foreign investors including some renowned investors

Tune Ins Holdings Corporate Overview

2. Our Business

7

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

8

Policyholders Local

Insurance Partner

TGR

Host/Online Partner

Insurance Premium

Risk

Reinsurance Premium

Distribution Agreement

Commissions

• Online insurance products sold through websites of AirAsia, Tune Hotels, AirAsia Expedia and Cebu Pacific

• Without the incremental cost of direct marketing to customers, we are able to offer our products very competitively

• We believe the ease and lower cost makes our products very attractive to customers

• In Malaysia, we are licensed to underwrite directly, through TIMB

• In Thai, Indo, Sing, Aus, Phil, China, HK, Macau, Japan, Cambodia, Laos, Vietnam, Myanmar & India, Taiwan we have established arrangements with local insurance partners

• We are also in the process of securing arrangements in S.Korea & Brunei

Policy

Risk

Policy

• Products include AirAsia INSURE Travel Protection Plan, Cebu TravelSure, Tune Hotels Personal Accident Plan

• We buy ‘excess of loss’ insurance to manage our underwriting exposure through highly-rated global reinsurers

External Reinsurance

Agents

Reinsurance Premium

Risk

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Online Insurance Business Model How We Serve Our Partners Across the Region

e.g. AirAsia, Tune Hotels, AirAsia Expedia and Cebu Pacific

9

New market launch targets • Brunei • S.Korea • Dubai

Source: AirAsia’s website (chart), Company

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Online Insurance Business Regional Reach

INSURANCE PARTNERS

TIMB

Malaysia

KPI

Thailand

Dayin Mitra

Indonesia

EQ

Singapore

ASIA

Hong Kong

Macau

Philippines

Cambodia

MINAN

China

ACE

Australia

Vietnam

Tokojaya

Laos

SOMPO

Japan

ICICI Lombard

India

ASIL

Myanmar

ZURICH

Taiwan

AA Insure Travel Protection Plan

10

• AirAsia INSURE Travel Protection is available via AirAsia’s online booking page , manage my booking and web check-in module

• In excess of 200 million passengers have flown with AirAsia, 160 routes, 81 destinations, 18 countries, 51 unique routes, 154 aircraft across the region. Provides vast opportunities for TIH to leverage its platform for marketing and distribution.

Source: AirAsia Bhd Investor Presentation October 2013

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Online Insurance Business Low-cost Distribution

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Successful model and brand platform

1 • Fixed long-term revenues, low operating cost

• Highly scalable to roll-out across multiple regions

Established Local Relationships 2

• Established network of local insurance partners across key Asian markets

• Difficult to replicate, providing barrier to entry

Operational Platform & Know-how

3

• Proprietary TIPG Platform, globalized IT systems

• Share know-how and best practices across geographies

Talent Management

4 • Ability to attract and retain talent

• Active training & development program

Geographical breakdown – Policies Issued for 3Q2013

Note: * China includes Hong Kong and Macau

Total no. of policies = 2.09 mil

Update: Entered into an agreement in May 2013 with Malayan Insurance Co Inc (Php) to manage CEBU Pacific Air International passengers (departing from other countries) effective June 2013

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Online Insurance Business Replicable Business Model

Malaysia 45% (50%)

Thailand 20% (19%)

Indonesia 14% (14%)

Singapore 5% (6%)

China 8% (5%)

Others 8% (6%)

2012

2013

Key (font colour):

12

TIMB

Motor

Fire

Marine Cargo

Health & Dental

Personal Accident

Engineering

Foreign Workers

We are licensed to issue policies in all classes of general insurance in Malaysia across a broad range of industry and customer segments

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

General Insurance Business Product Offering

13

TIMB was acquired in May 2012 to enable us to capture revenue from underwriting general insurance including travel insurance in Malaysia. Post acquisition, we have taken active steps to position TIMB as a provider of a diversified portfolio of insurance products and realize synergies with our online insurance business with the following results and objectives:

Turnaround

• Improve capital base (CAR)

• Optimise investment portfolio/ reduce equity exposure

• Manage underwriting

• Optimising claims process

• Manage expenses

Enhance

• Enhance existing management team by making appropriate hires

• Increased training and change profit commission strategy

• New brand launched on 27 Sep 2012

• Introduce more efficient processes/ technology

• Product mix e.g. reducing motor exposure

Integrate

• Wider range of products to AirAsia/Tune Group and its customers

• Gateway to introduce no-frills products to TIMB’s motor insurance relationships

• Leverage BIG to promote our offerings

Grow

• Brand / recognition through digital direct proposition and differentiated products

• Cross-sell

• More complex business

• Teams set up to support family can support non-family e.g. aviation

• New accounts acquired since the acquisition include listed companies in engineering, manufacturing & publication industries.

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

General Insurance Business Turnaround Story

Q1 FY13 Listed on Main Market of Bursa Malaysia with market cap of RM 1 billion. Q2 FY13 1. Signed CSPA to acquire

Indonesian Gen Insurance Co.

2. Signed Strategic Partnership with Malayan Insurance to manage CEBU Pacific Air Int’l Passenger Travel Insurance

3. TIH and TMGR (RI Co)

were assigned “A1/P1” ratings from RAM Services

14

Our Journey So Far

2009

2010

2012

2013

Q3 FY09 Set up Labuan based captive JV “Tune Insurance Labuan”

Q4 FY10 Management team enhanced to realize the full potential of the Insurance opportunities

Q2 FY12 Acquired Oriental Capital Assurance (renamed to Tune Insurance Malaysia Berhad) Q3 FY12 Signed Distribution Agreement with AA & Tune Hotels to manage Travel Insurance

2011

Q2 FY11 Formed TMGR and TMLR & signed 1st Collaboration Agreement with AA. TIH was formed as the Group Holding Company Q4 FY 11 First premiums received in TMGR

3. Plans & Strategies

15

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

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Leverage on the Growth of AirAsia’s Businesses

Improve Online Take/up Rates & Tailor our Sales & Marketing Efforts

Replicate & Expand Travel Insurance Business Model

Capture Synergies from TIMB Integration & Diversify Product Offering

Enhance Revenue Streams via Strategic Acquisitions

Expand to all markets where AA operates

Expand into new markets alongside AA (e.g. India AOC)

Manage the insurance needs of AA’s customers beyond just Travel Insurance

Improve consumer education through tubetorials, advertorials, personalisation and advocates

Leverage our access to brand recognition of AA and Tune Companies

Tailor our marketing efforts through data analytics / personalisation in all markets

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

Leveraging our proprietary system, strong local relationships and on/the/ground experience

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

Improve profitability and portfolio mix of TIMB’s products

Develop a quality branch / agency force distributing the desired mix of products

Improve effectiveness of IT systems to enable e-submission and real time MIS

Leverage AA and Tune Companies’ other businesses for marketing TIMB products

Selectively seeking opportunities to acquire businesses with the relevant licenses in our core SEA markets

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

Broaden our ability to offer a range of products especially via B2C

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Plans & Strategies

Our Markets

AirAsia Markets

Malaysia Thailand Indonesia Singapore Australia

China Macau Hong Kong Philippines Cambodia

Vietnam Laos India Japan

Brunei

Myanmar

South Korea

Nepal

Taiwan

Saudi Arabia

Myanmar and Taiwan launched this year

Travel insurance for Zest Air

AA India AOC WIP

504 aircraft across the region

Increasing adoption of internet booking

65m page visits per month from 25m unique visitors

LCC share of market continually rising

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Leverage on the Growth of AirAsia’s Businesses

Online Offline

Integrated Campaign

Education via social media – Video on YouTube, weekly challenge on Facebook and Twitter

TUNETASTIC RACE

Facebook Application

Radio Ad

Car wrap/Mobile advertising

Billboard

Bunting

Brochure

In-flight Magazine

MATTA

Airport adverts

Ground activation

In-flight Ads

Targeted Online banners ads

Targeted Monthly eDM

Online Ads

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Improve Online Take/up Rates & Tailor our Sales & Marketing Efforts

Strategic partnership with Malayan Insurance Co. Inc. (MICO) in the Philippines…

MICO – Leading non-life insurance co. in Philippines

Cebu Pacific Air – Philippines’ largest carrier

Travel insurance for Cebu Pacific Air passengers w.e.f. 13 June 20131

Further business development ongoing

Note: 1. For passengers departing from HK, Macau, Msia & Spore to the Philippines

Partnership within AirAsia/ Tune Group

Insurance for Tune Hotels guests

Launched AA Expedia (white label) in Malaysia & Thailand

Enablers

RAM Rating for TMGR (claims paying ability): Long term – A1

Short term – P1 Outlook - Stable

Replicate & Expand Travel Insurance Business Model

19

Digital Direct Marketing

Digital Lead Generation

B2C

Inquiry

Quote

Apply

Buy

Policy

Inquiry Change Claims Renewal Policy Administration:

1

2

3

Ancillary

E-mail Channel- email address

Web Channel- browser cookies

Mobile Channel- mobile numbers

3 basic message delivery channel :

Sample Sample

20

Tune Direct Overview of Sales Model

Rebalancing portfolio mix …

3Q 2012 3Q 2013

Recruiting quality agents to market profitable products…

3Q 2013 2012

1,023 Total agents

1,131 Total agents

Securing business opportunities within Tune

Group companies & partners…

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Capture Synergies from TIMB Integration & Diversify Product Offering

Fire 6.0%

Motor 55.0%

Marine 14.0%

PA & Medical 10.0%

Misc 15.0%

Fire 6.0%

Motor 35.0%

Marine 17.0% PA &

Medical 27.0%

Misc 15.0%

Salcon Berhad Favelle Favco Berhad Emico Holdings Berhad Telco Corporation Berhad

Boon Siew Group

Kossan Group Evergreen Fibreboard Berhad

Century Logistics Holdings Berhad

Headboard Berhad London Biscuits Holdings Berhad

Press Metal Berhad

Tomypak Berhad Yinson Holdings Berhad

Star Publication (M) Berhad

Versatile Creative Berhad

Knee San Berhad Teck Seng Holdings Berhad

22

Ralco Corporation Berhad

Notable Deals

Target to own 70% equity in PT Batavia Mitratama Insurance

Total investment: Approximately USD 9 million (depending on NTA upon completion)

Retain 30% profit from Indonesian travel insurance business & initiate regional footprint

Ang Andi Bintoro

Ang Andi Bintoro

Meilyana Bintoro

30% 70% 78.5% 0.26% 21.2%

“PT Tune Batavia Insurance”1

Note: 1. Name is for illustration purposes only 23

Enhance Revenue Streams via Strategic Acquisitions

4. Financial Highlights

24

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Continued Growth

Group operating revenue – RM 98.8 million up 44.3% v 3Q 2012 and RM 282.3 million up 107.3% v YTD 2012

Online travel sales – Up 48.8% v 3Q 2012 and 36.0% v YTD 2012

TIMB sales – RM 80.5 million up 51.0% v 3Q 2012 and RM252.3 million up 39.3% v YTD 2012

Continued diversification

55% of online travel business from non-Malaysian markets up from 50% in 3Q 2012

TIMB non-motor insurance up from 45.0% in 3Q 2012 to 65.0% in 3Q 2013

Increased Profits

Group PAT - RM 17.6 million up 59.3% v 3Q 2012 and RM50.2 million up 81.5% v YTD 2012

Online travel - RM 13.5 million up 48.0% v 3Q 2012 and RM37.0 million up 44.3% v YTD 2012

TIMB PAT - RM 5.0 million down 42.4% v 3Q 2012 and RM19.3 million up 45.1% v YTD 2012

Strong Balance Sheet

Total assets – RM 976 million.

TIMB CAR – Increased from 226% as at 31 Dec 2012 to 269.5% as at 30 Sept 2013.

Zero debt

Low Risk Investments

YTD Investment income RM 18.2 million; equities < 1% 25

3Q 2013 Results - Key Highlights

26

Unaudited Financial Results (Statutory*) Group PAT increased 82% to RM50.2 million YoY; Group PBT increased 65% to RM53.0 million YoY

* Based on statutory accounts (TIMB was acquired on 23 May 2012 thus only 4 months results included in YTD 2012). # Restated after Purchase Price Allocation adjustments for May 2012 OCA acquisition (Additional amortisation and depreciation

expenses of RM0.5 million (net of tax) for YTD 2013 and RM 0.2 million for YTD 2012). 1 Investment income = investment income + realised gains & losses + other operating income

3Q 2013 2Q 2013

3Q 2012 (Restated)

3Q vs 2Q Variance

3Q vs 3Q Variance

YTD 2013 YTD 2012* (Restated#)

Y-o-Y Variance

(RM’000) (RM’000) (RM’000) (%) (%) (RM’000) (RM’000) (%)

A B C A vs. B A vs. C D E D vs. E

Operating Revenue 98,810 96,707 68,462 2.2 44.3 282,263 136,155 107.3

Net Earned Premiums

61,452 61,551 57,035 (0.2) 7.7 175,305 103,446 69.5

Investment Income 1 4,793 5,516 8,058 (13.1) (40.5) 18,189 11,064 64.4

Fees & commission income 6,163 6,635 2,272 (7.1) 171.4 20,388 3,632 461.3

Net Claims (21,495) (27,331) (25,375) (21.3) (15.3) (70,693) (35,376) 99.8

Other Expenses (30,839) (30,457) (28,084) (2.7) 9.8 (90,174) (50,591) 78.2

Profit before Tax 20,074 15,914 13,906 26.1 44.4 53,015 32,175 64.8

Profit after Tax 17,623 17,323 11,060 1.7 59.3 50,169 27,635 81.5

27 2010

2011

Key:

2012

2013

% of Pro Forma Operating Revenue

301 319 340 250 282

68 97 99 -

50 100 150 200 250 300 350 400

2010 2011 2012 YTD 2012 YTD 2013 3Q 2012 2Q 2013 3Q 2013

RM’mil

Online TIMB

14.6% 85.4%

17.6% 82.4%

19.9% 80.1%

24.0% 75.5%

20.0% 80.0%

21.6% 78.0%

24.5% 75.5%

Gross operating revenue has increased 12.9% v YTD 2012 whereas gross written premium has increased 28.8% v YTD 2012 and by 42.6% v 3Q 12 reflecting the focus on quality not quantity immediately following the acquisition of TIMB

23.0% 76.6%

Pro Forma Operating Revenue Year-on-year increase through growth in Online sales and TIMB non-motor sales

28 2010

2011

Key:

2012

2013

% of Pro Forma Net Earned Premiums

YoY increase due to growth in Online business, offsetting decline in TIMB’s net earned premium reflecting focus on underwriting profits including a 25% motor quota share undertaken to help derisk the motor portfolio.

165 211 217

162 175 169

57 62 61

-

50

100

150

200

250

2010 2011 2012 YTD 2012 YTD 2013 YTD 2013(Excl MMIP)

3Q 2012 2Q 2013 3Q 2013

RM’mil

Online TIMB

25.8% 74.2%

25.8% 74.2%

29.9% 70.1%

41.8% 58.2%

36.4% 63.6%

31.3% 68.7%

29.1% 70.9%

39.8% 60.2%

1 Net earned premium = gross earned premium received - premiums ceded to external reinsurers

41.3% 58.7%

Pro Forma Net Earned Premiums1

Year-on-year growth despite motor quota share

29 1 Net claims comprises of gross claims paid and gross change to contract liabilities as well as claims ceded to reinsurers and change to contract liabilities ceded to reinsurers 2 Net claims divided by net earned premium

Results reflecting continued focus on the expeditious settlement of outstanding claims as well as a more balanced sales portfolio and focus on quality business

RM’mil (%)

2010

2011

Key:

2012

2013

94 110

100 91 71

59

25 27 22

56.6% 52.1%

45.8%

56.4%

40.3%

34.7%

44.5% 44.3%

35.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

-

20

40

60

80

100

120

2010 2011 2012 YTD 2012 YTD 2013 YTD 2013(Exc MMIP)

3Q 2012 2Q 2013 3Q 2013

Pro Forma Net Claims1 & Net Claims Ratio2 Continued improvement in net claims and net claims ratio

30

PAT growth reflecting substantial growth in online sales, zero debt and continued growth in TIMB offsetting decline in investment income given more prudent investment strategy

2010

2011

Key:

2012

2013

36

60 49

28

50 54

11 17 18

-

10

20

30

40

50

60

70

2010 2011 2012 YTD 2012 YTD 2013 YTD 2013(Exc MMIP)

3Q 2012 2Q 2013 3Q 2013

RM’mil

Pro Forma Profit After Tax

PAT up 78% vs YTD 2012

31 2010

2011

Key:

2012

2013

Combined ratio

QoQ improvement in underwriting margin reflecting reduced management expenses and a lower claims ratio.

ME ratio

Prudent provisioning in respect of Best Re adds 1.9% to 3Q Management expenses

1 Management Expense divided by Net Earned Premiums 2 Sum of Net Claims, Management Expenses & Net Fees and Commissions divided by Net Earned Premiums

14.0% 11.5% 18.6% 17.1%

23.8% 24.6%

16.1% 18.1% 24.4% 23.7%

83.9% 77.8% 78.7% 87.9% 78.5% 73.7%

100.1%

78.1%

83.1% 75.0%

0.0%

30.0%

60.0%

90.0%

120.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

2010 2011 2012 YTD 2012 YTD 2013 YTD 2013(Exc MMIP)

2Q 2012 3Q 2012 2Q 2013 3Q 2013

ME Ratio (%) Combined Ratio (%)

Pro Forma Management Expense Ratio1 and Combined Ratio2

Pro Forma Key Operating Ratios Travel insurance and TIMB both contribute to good underwriting margins

Profit After Tax (RM ‘mil)

32

Gross sales before reinsurance

increased 48.8% vs 3Q 2012 providing a similar increase in net profit.

Good contributions from all major markets, in particular China and Thailand.

Commentary Gross Sales before Reinsurance (RM ‘mil)

23.98 35.69

72.58

98.68

3Q 2012 3Q 2013 YTD 2012 YTD 2013

+ 36.0%

+ 48.8%

9.1 13.5

25.6

37.0

3Q 2012 3Q 2013 YTD 2012 YTD 2013

+ 44.3%

+ 48.0%

ONLINE: Sales and Profit Strong growth in travel insurance sales and profit

33

Malaysia 45% (50%)

Thailand 20% (19%)

Indonesia 14% (14%)

Singapore 5% (6%)

China 8% (5%)

Others 8% (6%)

Malaysia 46% (52%)

Thailand 19% (19%)

Indonesia 15% (13%)

Singapore 5% (6%)

China 8% (5%)

Others 7% (5%)

2.09 million Policies Issued in 3Q 2013

(vs. 1.39 million in 3Q 2012)

Malaysia – 57% in FY 2011, 51% in FY 2012, 46% in YTD 2013

5.74 million Policies Issued YTD 2013

(vs. 4.32 million YTD 2012)

2012

2013

Key (font colour):

ONLINE: Number of Policies Issued Continued growth in markets outside Malaysia in 3Q 2013 particularly China and Thailand

34

Malaysia 47% (53%)

Thailand 19% (19%)

Indonesia 16% (13%)

Singapore 5% (6%)

China 7% (5%)

Others 6% (4%)

2.03 million Policies Earned in 3Q 2013

(vs. 1.47 million in 3Q 2012)

Malaysia – 52% in FY 2012, 47% in YTD 2013

5.53 million Policies Earned YTD 2013

(vs. 4.38 million YTD 2012)

2012

2013

Key (font colour):

Malaysia 46% (51%)

Thailand 17% (18%)

Indonesia 17% (14%)

Singapore 5% (6%)

China 8% (6%)

Others 7% (5%)

ONLINE: Number of Policies Earned Revenue is recognised when a customer commences their journey

35

Commentary Gross Written Premium (RM ‘mil)

53.3 80.5

181.1

252.3

3Q 2012 3Q 2013 YTD 2012 YTD 2013

+ 51.0%

+ 39.3%

Net Written Premium (RM ‘mil)

32.3 34.8

102.8 102.4

3Q 2012 3Q 2013 YTD 2012 YTD 2013

+ 7.7%

- 0.4%

Gross Written Premium (“GWP”)

GWP increased YoY and QoQ mainly driven by increase in Fire and Online Travel Insurance.

Net Written Premium (“NWP”)

Excluding motor insurance, NWP increased YoY by RM20 million or 85% .

TIMB: Gross Written Premium and Net Written Premium Fire and Online Travel Insurance drive increase in Premium

Portfolio Mix Commentary

Continued efforts undertaken to

rebalance TIMB’s business portfolio to more profitable segments of non-motor business.

Portfolio mix (M:NM) for YTD 2013 is 31%:69% vs 48%:52% for YTD 2012

36

Fire 6.0%

Motor 35.0%

Marine 17.0% PA &

Medical 27.0%

Misc 15.0%

3Q 2013 3Q 2012

No of Agents

Total as at June 2013

3Q 2013 Total as at Sep 2013 Recruited Terminated Suspended

(A) (B) (C) (D) (E=A+B-C-D)

1,115 78 40 22 1,131

Fire 6.0%

Motor 55.0%

Marine 14.0%

PA & Medical 10.0%

Misc 15.0%

TIMB: Portfolio Mix Portfolio well balanced as drive for quality agents selling the right mix of products continues

37

Profit After Tax (RM ‘mil)

8.7

5.0

13.3

19.3

3Q 2012 3Q 2013 YTD 2012 YTD 2013

- 42.4%

+ 45.1%

Commentary

Profit after tax decreased QoQ mainly due to lower investment income, particularly in realised gain on sale of investment and interest income.

Profit after tax increased YoY mainly due to balanced portfolio with more profitable segments of non-motor business resulted in lower claims and net fees & commissions.

TIMB: Profit After Tax Another quarter of underwriting profits

Investment & Other 1 Income (RM ‘mil)

7.0

3.8

21.7

15.8

3Q 2012 3Q 2013 YTD 2012 YTD 2013

-45.9%

-27.4%

Portfolio Mix

Deposits with FI 43.7%

Wholesale fund

12.2%

Equity securities

1.0%

Loans 0.1%

Debt securities

28.2%

1.1% 0.6% 2.9% 2.6%

3Q 2012 3Q 2013 YTD 2012 YTD 2013

Investment Yield #

Portfolio Mix As at 30 Sep 2013

* Investment yield for 3 months

* *

38 # Investment income (exclude rental income) / investment

1 Other includes realised gains & losses and other operating income

TIMB: Investment & Other Income YoY decrease reflecting minimal equity holding from which to realise gains

39

Capital Expenditures

From FY2009 up till 1Q2013, no material capital expenditure

Planned capital expenditure FY2013-14:

Purpose: Implementation of a new core insurance system and associated technology in TIMB

Amount: Approximately RM10.0m

Sources of funding: Cash flows from operation

Indebtedness

FY 2012

Indebtedness comprised of term loans from RHB Bank Berhad and CIMB Bank Berhad of up to RM160.0 million to finance

acquisition of TIMB Group

Interest payable at the prevailing cost of funds plus a margin.

Following listing (Feb 20), debt 100% repaid

Now Zero Gearing

Source: TIH Group ‘s MD&A discussion

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Capital Expenditures and Indebtedness 1

40

We target for a payout ratio of not less than 40% of our consolidated profit in each financial year beginning 2013

Our Company intends to adopt a policy of active capital management. We propose to pay dividends out of cash generated from our operations after setting aside the necessary funding for capital expenditure and working capital needs. As part of this policy, we target for a payout ratio of not less than 40% of our consolidated profit for the year under MFRS, in each financial year beginning 1 January 2013, subject to the confirmation of our Board and to any applicable law, licence and contractual obligations and provided that such distribution will not be detrimental to our Group’s cash requirements, or to any plans approved by our Board.

Source: TIH Group ‘s MD&A discussion

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Dividend Policy

5. Conclusion

41

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

42

Exclusive Relationship with AirAsia

Proven Business Model

Ability to Leverage Extensive Electronic Database

Attractive Industry

Fundamentals (Insurance &

Travel Lifestyle)

Experienced Management

Team & Strong Shareholders

Support

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan.

Conclusion