Yoma Strategic : Second Half Year Financial Result Presentation

6M-Sept2022

Earnings Results

Yoma Strategic Holdings Ltd.	1

"Amidst encouraging signs in the property market in Myanmar, the Group's real estate business has had a standout 2022 with record breaking sales numbers compared to our past performance. Our restaurants platform also achieved our highest monthly sales volumes on record, and Wave Money continues to grow. We expect to take this positive momentum into the coming year to strengthen our businesses. The impairment charge taken on certain investment properties being sold reflects lower prices in US dollar terms, although the sale of these properties has resulted in a significant improvement in net cash inflow. The Group will continue to prioritize cashflow generation, improving our balance sheet and managing costs."

Melvyn Pun - Yoma Strategic's Chief Executive Officer

Yoma Strategic Holdings Ltd.	2

6M-Sep2022 Key Financial Highlights - Profit and Loss

1) Road to recovery

Strong demand for the Group's newly launched real estate projects combined with a substantial recovery in Yoma F&B which achieved record monthly sales.

2) Inflation and MMK depreciation

Inflation, primarily from fuel costs, is impacting overall consumer sentiment, whilst Myanmar Kyat volatility continues to pose challenges. The Group has increased its efforts in managing USD availability to minimize the impact of its currency exposures.

3) Cost discipline and cashflow generation

The Group will continue to focus on cost discipline to remain nimble in the face of an uncertain environment, and cashflow generation will remain a key priority to maintain balance sheet flexibility.

4) Change in financial year end

Financial year end exercises will only be carried out at 31 March 2023, i.e. the next financial year end.

3

Statement of Income	6M-Sep2021	6M-Sep2022
	(US$ million)	(US$ million)
Revenue	43.4	40.9
Cost of sales	(28.7)	(26.0)
Gross profit	14.7	14.9
Other gains/(losses)	28.8	(1.8)
Expenses:-
Administrative	(22.1)	(17.1)
Finance	(10.6)	(6.7)
Interest expenses on borrowings	(9.7)	(9.4)
Interest expenses on lease liabilities and trade payables	(1.9)	(1.8)
Finance fees	(1.1)	(1.3)
Currency translation gains on borrowings-net	2.1	5.8
Share of losses of joint ventures	(1.8)	(0.3)
Share of losses of associated companies	(0.8)	(0.8)
Profit/(loss) before income tax	8.3	(11.7)
Income tax (expense)/credit	(2.3)	0.4
Net profit/(loss)	6.0	(11.3)
Core Operating EBITDA	26.4	2.7
Core Operating EBITDA after extraordinary items and year end	(2.9)	7.4
adjustments

6M-Sep2022 Key Financial Highlights - Balance Sheet

Net Debt & Net Gearing Ratio

US$ million

1200						Net Debt			Total Capital				Gearing Ratio
32.4%
1000											27.8%
800							28.2%

600

400

200

0

Sept 2021

Mar 2022

Sept 2022

• Net gearing continued to decrease and remains well below the maximum target of 40.0%.
• Repayment of gross borrowings as the Group posted US$23.3m of operating cash flow in 6M-Sept2022.

35%

30%

25%

20%

15%

10%

5%

0%

1 The net gearing ratio is calculated as net debt divided by total capital. Net debt is calculated as borrowings (excluding loans from non-controlling interests) less cash and cash equivalents. Total capital is calculated as total equity plus net debt.

4

Segment Results - Yoma Land Development

		Revenue:
	Revenue Contribution:
	US$13.9 million
		-11%y-o-y
	34%	Core operating EBITDA excluding
	extraordinary items and year end
		adjustments:
		US$3.9 million
		256% y-o-y
	Earning Highlights (US$ million)	6M-Sep2021	6M-Sep2022
	Revenue		15.6	13.9
	Gross profit		2.8	5.2
	Loss before income tax		(5.3)	(2.8)
	Core Operating EBITDA after extraordinary	(2.5)	3.9
	items and year end adjustments

Revenue decline Y-o-Y was primarily due to Yoma Central as the project remained under suspension for the full period:

• Customer activity at both estates remains robust as the demand for hard assets continues.
• The Group launched Star Villas Phase II and City Villas in 6M-Sept 2022, although recognised lower revenue from StarCity as City Loft and Star Villas Phase I near completion with most units sold.

Unrecognised revenue of approximately US$20.2 million for the sold units at StarCity and Pun Hlaing Estate is expected to be realised as construction progresses:

• City Loft @ StarCity: As at 30 September 2022, 931 units were launched for sale, of which 856 units were booked and sold.
• Star Villas: 42 units of the 43 launched units were booked and sold as at 30 September 2022.
• City Villas: 97 units of the 130 launched units were booked and sold as at 30 September 2022.

Differences in total due to rounding, N.M: Not meaningful

For the purpose of this section, core operating EBITDA refers to earnings before interest, taxes, depreciation and amortisation of operating subsidiaries excluding currency translation differences. In the case of Real Estate Development, core operating EBITDA excludes EBITDA of the Yoma 5 Central project as administrative expenses form part of the overall project budget and have been funded according to the shareholders' agreement.