Reebonz Holding Limited · OTC:RBZHF
Reebonz — SPAC Merger (September 2018)
41 slides from Reebonz's SPAC merger presentation, Sep 5, 2018
Slide 1: Investor Presentation
SR Investor Presentation R E E B @) N Z September 2018 YOUR WORLD OF LUXURY
Slide 2: Disclaimer
Disclaimer This Investor Presentation is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or other financial instruments of Reebonz Ltd. {"Reebonz” or the “Company”) or Draper Oakwood Technol
Slide 3: Parties to the Business Combination
Parties to the Business Combination aR REEBONZ YOUR WORLD OF LUXURY m™ Founded in 2009 and headquartered in Singapore, Reebonz Limited (“Reebonz” or the “Company”) is a leading online luxury marketplace platform in Southeast Asia m ~582k SKUs across 1,000+ brands within its leading, integrated platf
Slide 4: Executive Leadership
Executive Leadership Reebonz Samuel Lim re Co-Founder, CEO Y ™ Founded efusion Pte Ltd (Fusion Mobile), a mobile content provider in the region in 2000 — Exited to a Malaysian listed firm in 2006 @ Also founded eFusion Solutions Pte Ltd, a direct sales platform for the banking and finance industry i
Slide 5: Agenda
Page Reebonz Overview 5 The Market Opportunity 11 Key Differentiators 16 Recent Results and Growth Overview 24 Transaction Overview 32
Slide 6: Reebonz Overview
7K REEBONZ YOUR WORLD OF LUXURY Reebonz Overview
Slide 7: Trusted Brand for Buying and Selling Luxury Products
Trusted Brand for Buying and Selling Luxury Products Built a leading position in Asia Pacific and beyond through an integrated business model, innovative i “@ max \ South Korea ‘ China N. Asia Revenue Contribution: 46% Ag cal Taiwan e Core focus in Southeast Asia Japan ; Revenue Headquarters and oe
Slide 8: Our Vision: Making Luxury Accessible
Our Vision: Making Luxury Accessible We make luxury accessible across various product offerings and premium services, driving a personalized and differentiated consumer experience unlike anything else in the market C Marketplace) + White Glove (C2€ Consignment) + Sell Back (Soft launch in Q2 2017) L
Slide 9: Reebonz has Built a Complete Luxury Ecosystem
Reebonz has Built a Complete Luxury Ecosystem The Reebonz Luxury Ecosystem incentivizes buyers to become sellers and sellers to become buyers, deepening the consumer connection and enhancing our supply of luxury goods Buyers enter the Reebonz Ecosystem B2C Merchandise Business Merchant’s Marketplace
Slide 10: Innovative Technologies Power Sustainable Differentiation
Innovative Technologies Power Sustainable Differentiation Technology is core to our strategy and will enable us to scale rapidly, further build out a differentiated model and deliver a superior margin profile over the long-term Robust Data ~ Predictive analytics enable dynamic pricing — Drives profi
Slide 11: Reebonz — Key Investment Highlights
Reebonz — Key Investment Highlights Southeast Asia’s leading luxury ecosystem with powerful network effects re Tremendous market opportunity with favorable long term fundamentals Trusted brand for buying and selling luxury goods in Southeast Asia, with strong first mover advantage and a defensible c
Slide 12: The Market Opportunity
7K REEBONZ YOUR WORLD OF LUXURY The Market Opportunity 11
Slide 13: Creating New Demand and Bringing Accessible Luxury to Asia
Creating New Demand and Bringing Accessible Luxury to Asia We are capitalizing on a growing appetite for luxury goods from a range of demographics across Asia Pacific that historically did not have a platform to discover higher end products High end collectible ; and coveted luxury Working Middle Cl
Slide 14: Addressing a Large and Growing Market for Luxury Goods
Addressing a Large and Growing Market for Luxury Goods ~4% - 5% ~9% ~85% CAGR 2017 — 2020E” Online Penetration in 2017" Growth Driven by Millennials and Gen 2 5% growth 2016-2017" 25% by 2025" Strong resale market allows Luxury to live forever ~US$39") Billion Core Asia Pacific?) Personal Luxury Goo
Slide 15: Tremendous Market Opportunity for Pre-Owned Luxury Goods
Tremendous Market Opportunity for Pre-Owned Luxury Goods The pre-owned category presents a tremendous opportunity to capitalize on the recent build-up of luxury goods, as the velocity of turnover for those recently purchased goods increases over time m Addressing dynamics that have historically chal
Slide 16: Uniquely Positioned in the Online Luxury Retail Segment
Uniquely Positioned in the Online Luxury Retail Segment End-to-end luxury platform that is highly differentiated from luxury and e-commerce players across the globe and would be difficult to replicate “ Pre-Owned RoreiBenSabslatPae, houry Buying Selling!” New (+ Authentication Focus Focus oie Capabi
Slide 17: Key Differentiators
7K REEBONZ YOUR WORLD OF LUXURY Key Differentiators 16
Slide 18: Our Key Differentiators
Our Key Differentiators Our mission is to create the easiest and most trusted platform for buying and selling luxury goods ) Buyers and Sellers in One Ecosystem P\/\/N Technology / Data / Personalization Widest Range of Luxury mR REEBONZ YOUR WORLD OF LUXURY Cross-border Omni-channel e-Commerce Capa
Slide 19: Virtuous Cycle with Strong Network Effects
Q Virtuous cycle with Strong Network Effects Robust network effects as buyers are incented to become sellers, driving supply a from more buyers brands, ultimately driving demand m ~582k+ luxury SKUs“) = Focus on the quality of product offerings, not quantity = Robust screening process including trus
Slide 20: Building a Long Tail of Luxury Products
QBuilding a Long Tail of Luxury Products Our Ecosystem strategy has rapidly transformed the Reebonz platform and increased our network of brands, sellers, orders and products Increasing range of brands and products vn 8 20140 2017A 3 ° o & o* see 3 em | s0x-90% — IF ee G Individual of SKUs 51k SKUs
Slide 21: Unique Expertise & Technology in Authentication of Pre-Owned Products
Qunique Expertise & Technology in Authentication of Pre-Owned Products We use a combination of highly experienced ateliers and innovative technologies to provide sophisticated authentication, engendering strong trust with our ecosystem partners Reebonz Ateliers Capa ies 1. Authentication and Certifi
Slide 22: Localized Approach Creates Differentiated Experience
@ Localized Approach Creates Differentiated Experience Deep end-to-end localization creates a seamless, comfortable experience for consumers, enabling higher conversions and repeatability = Consistent branding and message South Korea with key aspects fully localized: LOCALIZED LANGUAGE MAIN PAGE , .
Slide 23: Omni-channel Platform Enhances Brand and Expands Reach
@omni-channel Platform Enhances Brand and Expands Reach Boutiques Singapore Australia Pop-up Events Adelaide = Adelaide City Melbourne = Melbourne City = Glen Waverly = Box Hill REEBON ORLD zg Brisbane = Brisbane City = Sunnybank = Garden City Gold Coast = Gold Coast City Sydney Sydney City Burwood
Slide 24: Innovation Through Technology and Data
OQ innovation Through Technology and Data We are utilizing technology to drive unique aspects of our platform including data-driven predictive analytics, differentiated features and blockchain authentication Asia Luxury Index Sell Back Guarantee REEBONZ YOUR WORLD OF LUXURY Asia Luxury Index is a fi
Slide 25: Recent Results and Growth Overview
7K REEBONZ YOUR WORLD OF LUXURY Recent Results and Growth Overview 24
Slide 26: Proven Model with Strong Fundamental Business Drivers
Proven Model with Strong Fundamental Business Drivers Registered Members") Total Buyers®) (In millions) {In thousands) 2 18% cee cack 40% 55 132 78 28 2013A 2017A 2013A 2017A Total Orders!) Average Order Value (In thou sands) {In Ss) cna cach: 6% 216 $933 126 $737 2013A 2017A 2013A 2017A (ca) “Regis
Slide 27: Returning to Strong Growth and Enhanced Profitability
Returning to Strong Growth and Enhanced Profitability 2013 - 2015: . 2016 — 2018: Beyond 2018: Rapid:Growth and Developmentiof Capital Constrained Return to Strong Growth the Platform = Membership base reached 4.5m by = Brexit Vote caused global e- = Capital infusion in Q4 2018 will allow Q4 2015 co
Slide 28: Compelling Model with Strong Unit Economics
Compelling Model with Strong Unit Economics We achieve a strong positive contribution margin after fulfillment and marketing expenses on each order (In $) 194 (1) Gross profit per online order Fulfillment {excl. esoP’ ) per Contribution margin (after Marketing (excl. ESOP) per Contribution margin (a
Slide 29: Strong LTV / CAC Metrics Support Investment
Strong LTV / CAC Metrics Support Investment Cumulative GMV — S$ (Y1 to Y5) Cohort of 2012 (46,683) Cohort of 2013 (43,929) —GMV - S$‘ 000 MGMV -S$' 000 133,149 140,000 $128,426 140,000 gorse $ 120,000 $111,461 120,000 $104,973 $95,730 , 100,000 7a pee 100,000 $01,726 80,000 80,000 60,000 $55,843 60,
Slide 30: Multiple Predictable Drivers of Growth
Multiple Predictable Drivers of Growth ) =} ij > ~ o ra) = o > a cc ~ i= =I 2 < S 2 2 te) REEBONZ RLD OF LUXURY Robust data-driven strategy to invest in high ROI countries, while maintaining a dominant position in the others Broadening base of products by optimizing mix of inventory sourcing and add
Slide 31: Leading Investors Have Backed Us for Years
Leading Investors Have Backed Us for Years vertex” VENTURES ™ Vertex Ventures is a global network of funds with teams in the U.S., South Asia, China, and Israel that combine local expertise with a global perspective = Based in Singapore, Vertex is a subsidiary of Temasek Holdings Grae waze APA media
Slide 32: Experienced Team Ready to Take Reebonz to the Next Level
Experienced Team Ready to Take Reebonz to the Next Level Samuel Lim Co-Founder, CEO a, »* Founded two previous start-u = eFusion Pte Ltd (Fusion Mobile) — Founded mobile content provider — Exited to a Malaysian firm in 2006 = eFusion Solutions Pte Ltd — Founded online direct sales platform for the b
Slide 33: Transaction Overview
7K REEBONZ YOUR WORLD OF LUXURY Transaction Overview 32
Slide 34: Transaction Overview
Transaction Overview Summary Valuation & Structure Management Performance Plan and Earnout Shares Management & Board (1) Reebonz and Draper Oakwood have signed a definitive business combination agreement (“BCA”), pursuant to which DOTA and Reebonz will become subsidiaries of a newly created Cayman I
Slide 35: Pro Forma Capitalization and Ownership
Pro Forma Capitalization and Ownership Transaction Overview ($m) Transaction Cash Sources & Uses ($m) Diluted Shares Outstanding (millions) 27.2 Sources") 7 A t “EDA feadindruct laccumingamaradamntnnd. BGG implied Price PerShare) $10.26 SPAC cash in trust (assuming no redemptions) $59.0 Implied Mark
Slide 36: 2019E GMV and Revenue Growth vs. Peers
2019E GMV Growth ; 59.7% me (00.0% 31.2% 30.9% neetsnz Gsea Gmercari fs) # wayfair ae boohoo ®zalando CISOS stitcu Fix amazon ebay 2019E Revenue Growth 67.2% 42.0% a4 20.7% 19.0% - 5.6% Rs GS sea Bmercari 4] ome ewayfair boohoo GSOS amazon ezalando sticu Fix el, Source: Company presentation, public
Slide 37: EV / 2018E and 2019E Revenue
EV / 2018E Revenue 13.6x 10.8x 2.8x —_ REEWONZ no mercari eo @sea amazon bay stircu rx boohoo SOS ewayfair ® zalando libre EV / 2019E Revenue B mercari Y stitcH Fix boohoo QSOS ezalando #wayfair Source: Company presentation, public filings and Wall Street consensus estimates as of August 31, 2018. R
Slide 38: Appendix
7K REEBONZ YOUR WORLD OF LUXURY Appendix 37
Slide 39: Equity Capitalization and Earnout Structure
Equity Capitalization and Earnout Structure Earnout Structure = Additional equity consideration to Reebonz shareholders and management team under the Earnout provisions of the definitive agreement and the Management Performance Plan in the event consolidated revenue and stock performance exceed cert
Slide 40: Income Statement
Income Statement Historical Audited Projections (SS in Millions) FY2013A -FY2014A ——sFY2015A_—sFY2016A FY 2017A Total GMV 109 145 253 365 349 292 424 Revenue 86 116 174 176 150 140 199 Cost of Revenue 62 90 131 131 108 99 238 Gross Profit 24 25 43 45 42 41 61 Gross Margin 28% 22% 25% 26% 28% 29% 31%
Slide 41: Balance Sheet
Balance Sheet (SS in milion) Expected Jun 30, 2018 Assets Current Assets Cash and Cash Equivalents 17 10 7 Trade and Other Receivables 6 6 Inventories 33 30 30 Other 7 5 5 Total Current Assets 64 51 48 Non-Current Assets Property and Equipment 27 39 38 Leasehold Land 7 7 7 Other 5 5 4 Total Non-Curr