Slide 1: The Growth Hub for Developers
INVESTOR PRESENTATION FY 2025 THE GROWTH HUB FOR DEVELOPERS Empowering Innovation, Accelerating Growth March, 2026 1
Slide 2: Disclaimer
Disclaimer INVESTOR PRESENTATION FY 2025 This document contains forward-looking statements. These statements relate to expectations concerning matters that (a) are not historical facts, (b) predict or forecast future events or results, or (c) embody assumptions that may prove to have been inaccurate
Slide 3: Global Mobile App Advertising Market Projected to Grow to ~$660B by 2030
INVESTOR PRESENTATION FY 2025 The Global Mobile App Advertising (MAA) Market is Projected to Grow from ~$400B in '25 to ~$660B by '30, at a 10% CAGR MAA Spending Market Size1 Global Mobile App Advertising Spending (Bn USD, 2020-2030E) 10% 663 2020~2025 2025~2030 Others Game E-com CAGR CAGR 219 E-com
Slide 4: Programmatic Ads' Dominance Will Strengthen to 90-95% by 2030
INVESTOR PRESENTATION FY 2025 Within MAA, Programmatic Ads’ Dominance will Strengthen, to Account for 90-95% of the Total Market by 2030 Programmatic vs. Non-Programmatic Share of Programmatic in Global Mobile App Display Advertising Market (Bn USD, %, 2020-2030E) 663 Programmatic 407 90-95% 85-90%
Slide 5: Structural Tailwinds Lift Third-Party Network Market Share to 25% in 2025
INVESTOR PRESENTATION FY 2025 Structural Tailwinds Lift Third-Party Network Market Share to 25% in 2025 Third-Party Network % of Ad Spending (excl. China) ◼ Players compete on AI and algorithms as AdTech evolves ◼ Value chain integration of third-party players ◼ Privacy and anti-trust regulation 25%
Slide 6: Increasing UA Cost and Competition Drive Game MAA Budgets
INVESTOR PRESENTATION FY 2025 Increasing UA Cost and Intensifying Competition are the Key Drivers for Game MAA Budgets to Outgrow Game Industry Revenue Global Mobile Game Display MAA Spending (Bn USD, 2020-2030E) +9% 115 9% Mobile Game +10% MAA Budget 75 '25-'30 CAGR 47 6% Global Mobile Game Revenue
Slide 7: Global E-commerce GMV Forecast to Reach ~$7,800B by 2030
INVESTOR PRESENTATION FY 2025 Global E-commerce GMV is Forecast to Reach ~$7,800B by 2030, Growing at a 10% CAGR, with ~$1,940B Recognized as Revenue E-commerce GMV Global E-commerce DTC Revenue (Bn USD, 2020-2030E) (Bn USD, 2020-2030E) 10% Marketplace DTC 10% 940 7,833 19% 595 1,175 10% 248 2020 20
Slide 8: E-commerce MAA will Continue to Grow
INVESTOR PRESENTATION FY 2025 E-commerce MAA will Continue to Grow Global E-commerce Display MAA Spending by Platform (Bn USD, 2020-2030E) Marketplace DTC 10% 2020~2025 2025~2030 219 CAGR CAGR 92 14% 21% 11% 134 54 71 20 127 81 10% 10% 50 2020 2025 2030E Source: eMarketer; Expert interviews Note: Nu
Slide 9: Huge Market Potential in Short Drama
INVESTOR PRESENTATION FY 2025 Huge Market Potential in Short Drama User Behavior $14B 40%+ Short, Frequent, Fragmented 2026 Short Drama 5-Year Monetization Model Market Size Forecast CAGR Forecast IAP + IAA (game-like) 9
Slide 10: Deep AI Infra Powers Every Vertical
INVESTOR PRESENTATION FY 2025 Deep AI Infra Powers Every Vertical Game E-commerce Short Drama Other verticals AI Infra 10
Slide 11: AI Infra Iteration Speed: The Ultimate Survival Line
INVESTOR PRESENTATION FY 2025 AI Infra Iteration Speed: The Ultimate Survival Line Mintegral Platform Media Margin1 by Month FY2025 FY2022 FY2023 FY2024 New AI Infra Upgrade Star Gate Post-Star Gate Smart Bidding System Business Cognitive Simplify + Unify Steady Growth Accelerated growth Alignment 0
Slide 12: Rapidly Expanding Cloud Infrastructure
INVESTOR PRESENTATION FY 2025 Rapidly Expanding Cloud Infrastructure Unit: Thousand Nodes 50 41 40 30 20 12 10 - 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 2022 2023 2024 2025 12
Slide 13: AI Empowerment in R&D: Optimization of Mintegral Team Scale
INVESTOR PRESENTATION FY 2025 AI Empowerment in R&D: Significant Optimization of Mintegral Team Scale Mintegral Core Team Headcount Mintegral Revenue per Core Team Member 239 $11M 183 $6M 2024.12.31 2025.12.31 2024 2025 13
Slide 14: Programmatic AI+LLM Agents: Integration, Not Replacement
INVESTOR PRESENTATION FY 2025 Programmatic AI+LLM Agents: Integration, Not Replacement Programmatic AI Engine LLMs + AI Agents High-Frequency Real-Time Decision Loop Strategy Analysis and Workflow Automation Ads Recommendation Agent-Ready APIs “Human in the Loop” Bid Bid Price Ads SDK Calculation 14
Slide 15: Agentic AI Drives Mobvista Toward FSD Mode
INVESTOR PRESENTATION FY 2025 Agentic AI Drives Mobvista Toward FSD Mode Stage Autonomous Driving Key Characteristics - Zero human intervention for all conditions L5 Full Automation - Self-governing, self-learning - Fully automated under specific conditions L4 High Automation - Human only monitors r
Slide 16: Rapid Growth of Apps Integrating Mintegral SDK
INVESTOR PRESENTATION FY 2025 Rapid Growth of Apps Integrating Mintegral SDK Unit: Thousand Apps 120 117 100 80 60 40 20 17 - 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 2022 2023 2024 2025 16
Slide 17: Rapid Growth of Ads Request
INVESTOR PRESENTATION FY 2025 Rapid Growth of Ads Request Unit: Billion Requests 148 150 120 90 60 30 16 - 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 2022 2023 2024 2025 17
Slide 18: FY 2025 Key Metrics
INVESTOR PRESENTATION FY 2025 FY 2025 Key Metrics $ 2,047M $95 M Revenue Non-IFRS Adjusted Net Profit Headquarter Singapore 36% ＞80% Y/Y Growth of Ad-tech Net % of Mintegral Revenue Revenue1 Contributed by Smart Bidding Note ： 1. Revenue adjusted by deducting the cost distributed to the traffic publ
Slide 19: Stable Revenue Growth
INVESTOR PRESENTATION FY 2025 Stable Revenue Growth Group Revenue (US$ M) 2,047 +36% YoY 1,109 1,508 938 869 638 24H1 24H2 25H1 25H2 2024 2025 Note: Numbers may not add up to total due to rounding. 19
Slide 20: Enhanced Operating Leverage
INVESTOR PRESENTATION FY 2025 Enhanced Operating Leverage Fixed Operating Expenses1 Change Expense by Type (US$ M) (US$ M) 188 152 46 47 44 41 80 71 6.9% 63 61 4.7% 4.9% 4.2% 24H1 24H2 25H1 25H2 Selling and Research and General and marketing development administrative Fixed Operating Expenses % of T
Slide 21: Profitability on a Steady Upward Trajectory
INVESTOR PRESENTATION FY 2025 Profitability on a Steady Upward Trajectory 191 102 89 75 138 EBITDA1 Trends 63 +38% (US$ M) YoY 24H1 24H2 25H1 25H2 2024 2025 95 Profit2 Trends (US$ M) 58 49 +94% 37 38 YoY 12 24H1 24H2 25H1 25H2 2024 2025 Notes: 1. We define adjusted EBITDA as EBITDA (not an IFRS Acco
Slide 22: Leadership Realignment for Next-Phase Growth
INVESTOR PRESENTATION FY 2025 Leadership Realignment for Next-Phase Growth ✓ Unified Chairman & CEO structure for streamlined Mr. CAO Xiaohuan governance Chairman of the Board Chief Executive Officer ✓ Strong independent oversight for balanced decision-making ✓ Gender-diverse Board Independent Non-e
Slide 23: Q&A / Contact Us
INVESTOR PRESENTATION FY 2025 A Leading Comprehensive Technology Platform for Global App Developers Q&A CONTACT US www.mobvista.com IR@mobvista.com © FY 2026 Mobvista. All rights reserved. Contains Mobvista’s Confidential and Proprietary information and shall not be disclosed or reproduced without t