Corporate Presentation

Disclaimer: This presentation is intended solely for viewing. No part of it may be circulated, quoted, or reproduced for distribution without prior written approval from Vistaar Financial Services Pvt. Ltd.Figures rounded off to the nearest digit across the presentation. Figures and ratios have been regrouped wherever necessary.

December, 2017

Our Vision, Mission, Values & 5 Principles

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Our Customer is at the Centre of

everything that we do

I hold myself Accountable for my Performance

5 Principles

I will treat Colleagues the

way I expect to be treated

My colleagues and I will deliver greater

results, working together, than in

isolation

Each of my actions will be to the highest

standards of Integrity & Ethics

Our VisionOur vision is to be a catalyst to the underserved so that they can achieve greater economic

and social well-being.Specifically, we offer a full range of financial services customised

to fulfill their every business requirement and move them

into the mainstream.

Our Mission

We shall achieve our vision by deeper understanding of specific customer segments, to fulfil their financial needs

through customized products and simple

processes

Our Values

Customer Centricity

Transparency

Team Work

Ethics

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Haryana(01)

What we do We provide loans to the Micro, Small &

Medium Enterprises (“MSME”) primarily inthe rural & semi-urban areas

Our Belief We believe in the power of MSMEs as engines

of economic growth that will drive Indiaforward

A Specialist MSME Lending Player

Loan Portfolio of `1,200 Crores

Customer Segment

Textiles Small Mfg. Units

Hotel/Bakery Agri Allied ActivitiesKirana/Retail Shops

Unique Characteristics of the Company

First player to use Unique Credit

Methodology to disburse loans to small

entrepreneurs & address credit demand gap

in the sector

Presence in rural & semi-urban areas

Company is run by professionals with deep

industry knowledge

Presence in 13 States through 218 Branches

Cumulative amount of

loans disbursed:

>₹2,500 Crs.

Cumulative no. of

entrepreneurs serviced:

>1.80 Lakhs

Employment generated (direct & indirect):~5 Lakhs

Impact Created by Vistaar is Both Economic & Social

FY11 FY13 FY15

Vistaar: A Brief History

• Founded in Apr’10

• Raised ₹15 Crs. capital

• Started Operations in Karnataka & Tamilnadu

FY12

• Raised Capital of ₹10 Crs.

• Launched specialised Products

- Small Business Mortgage Loans

- Small Business Hypothecation Loans

• Raised Capital of ₹40 Crs.

• Expanded Operation in Maharashtra

• Aug 2012 – Operating break even achieved

• Crossed ₹100 Crs. Portfolio

FY14

• Portfolio increased by more than two fold to ₹243 Crs.

• Expanded operations in Gujarat

• Branch number doubled to 81

• Raised Capital of ₹160 Crs.

• Entered in Madhya Pradesh, Rajasthan & Chhattisgarh

• Raised ₹308 Crs. debt

• Portfolio increased to ₹516 Crs.

FY16

• Raised capital of ₹250 Crs.

• Credit rating upgraded from ‘[ICRA]BBB+’ to ‘[ICRA]A-’

• Entered in Uttar Pradesh, Uttarakhand, Haryana, Odisha & AP

• Launched new product - Bill discounting

4

• Portfolio increased to ₹1,124 Crs.

• Raised ₹495 Crs. debt (incl. ₹125 Crs. from Mutual Fund)

FY17

Target Customer Segment of VistaarVistaar’s Focus Target Segments Constitute Majority of the Demand Gap

Mainly Banks &Large NBFCs

Microfinance Institutions &

Self Help Groups

Vistaar –Target segment

Medium & Large

Enterprises

ProductivePoor

SmallBusinesses

Current focus target segments of Vistaar (1)

► Textiles / Auto/Power-looms► Agri allied activities► Kirana stores (2)

► Hotels / Restaurants► Agro / Food processing► Light engineering► Other retail stores

Vistaar's focus target

segments72%

Others28%

Breakup of MSME sector* (Number of units)

Vistaar's focus target segments

78%Others

22%

Breakup of Credit Demandin MSME sector*

Focus target segments of Vistaar constitute

72% of the total MSME business units & 78% of the total MSME sector credit demandSources : * Data from Ministry of MSME, Company analysisNotes : (1) Vistaar also targets other segments in addition to these focus segments(2) Kirana Stores are small unorganized retail stores, with merchandizing similar to Mom and Pop stores

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Vistaar Has Uniquely Positioned Itself to Cater to MSME Sector Effectively

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Proven Business Model

Strong Professional

Management

Strong Governance

Structure

Unique Credit

Methodology

Strong Processes,

Controls & IT

Well Diversified

Debt Profile

Marquee Investors

Driving growth systematically

Proactive Board

Right customer selection

Minimising risks

Cost optimisation & timely funding

Timely & sizable capitalisation

Strong People Practices

Vistaar’s “5 Step Process” Addresses MSME Segment Effectively

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Income assessment

through non-traditional documents

Reference checks- supply chain players,

neighbors

Collateral taken for moral

suasion

Continuous refinement of product and

credit methodology

In-depth study of a sector to determine unique credit methodology

1

23

4

5

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Fully Integrated Client Protection Principles In The Business Model

Client Protection Principles Vistaar’s Approach

Appropriate Product Design & Delivery

Sector specific approach Templatization for different trade segments Direct selling

Prevention of Over-indebtedness

100% dual credit bureau check Cash flow based lending

Transparency Loan summary schedule to customers Impart credit literacy through videos

Responsible Pricing Competitive pricing Reasonable RoAUM

Fair & Respectful Treatment of Clients

Sales SOP Collections code of conduct

Privacy of Client Data Sharing of data only with specific consent

Effective Client Resolution Toll free numbers for complaints Board level review of customer complaints and

resolution

Products Offering to Suit Varied Needs of MSMEs

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Loan Size (`) 1,00,000 to 25,00,000 Upto 25,00,000 1,00,000 to 25,00,000

Repayment Frequency

BulletDaily/ Weekly/ Bi-weekly/ Monthly

Monthly

Tenor Upto 90 days per Bill,

Limit valid up to 1 yearUpto 18 months 24 to 120 Months

Security Unsecured Unsecured Property

Short Term CapitalLong Term Business

LoanRequirement >>

Products >> Bill DiscountingSmall Business Mortgage Loan

Loan Against Card Receivables

Effective Risk Management & Governance

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Asset Quality

Key Aspects Management Strategy

Interest Rate Volatility

• Diversified portfolio across geographies & sectors• Provisioning norms are more conservative than RBI’s requirements• Amongst the lowest NPA levels in the industry

• Good asset liability management system in place• Borrowing at variable rates & lending at fixed rate

Liquidity Risk • Sound liquidity management & stable funding partners• Raised capital through both equity & debt markets (Term Loans, CC, NCDs, PTCs)

Management Systems• Robust Core Banking Solution & other reporting systems in place• Timely reporting of critical data points to help decision making

Competition • Increasing branch network across varied geographies• Less competition from mainstream sources of finances (Banks & NBFCs)

Capital Adequacy & Profitability

• Strong CAR of 45% (as of Dec’17) – well above RBI’s requirement• Profitable since last five years at continuous increasing growth rate

Corporate Governance• Well established policies & procedures across functions• Professional Board with strong profile of Independent Directors

Rajasthan(15)

Gujarat(19)

Maharashtra(32)

Karnataka(36)

Tamil Nadu(46)

Andhra Pradesh

(10)

Odisha (05)

Chhattisgarh(04)

Madhya Pradesh(30)

Haryana(04)

Uttarakhand(04)

Diversified Presence: Scaling Up In A Sustainable Manner

218 Branches Spread Across 13

States (as of Dec’17)

Branches

21 40 81

132 198 201 218

FY12 FY13 FY14 FY15 FY16 FY17 Dec'17

No. of Loan Accounts (‘000)

13 14 27 55 79 79

56

FY12 FY13 FY14 FY15 FY16 FY17 Dec'17

States

2 3 4 7

12 12 13

FY12 FY13 FY14 FY15 FY16 FY17 Dec'17

Employees (‘000)

0.3 0.4 0.8 1.3

2.1 2.3 2.0

FY12 FY13 FY14 FY15 FY16 FY17 Dec'17

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Telangana(05)

Map not to scale

Performance Highlights

41 107

201

434

600 670

458

FY12 FY13 FY14 FY15 FY16 FY17 9M-FY18

Disbursements (` Crs.)

36 111

243

515

844

1,124 1,200

FY12 FY13 FY14 FY15 FY16 FY17 9M-FY18

Portfolio Growth (` Crs.)

Profit Before Tax (` Crs.) Networth (` Crs.)

(2.7)

0.22 1.6

15

39

50

33

FY12 FY13 FY14 FY15 FY16 FY17 9M-FY18

18 58 59

231

509 541 563

FY12 FY13 FY14 FY15 FY16 FY17 9M-FY18

Note: 9M-FY18 nos. are provisional & unaudited

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International FIs21%

Domestic FIs27%

Banks52%

Well Diversified Debt Profile & Stable Funding PartnersSource Mix: Rs. 683 Crs. Outstanding as of Dec’17

No. of Lenders

20

10

02

Note: (1) Above outstanding nos. includes Off Balance Sheet & excludes car loans (2) Logos shown of major lenders 13

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Support From Marquee Investors Since Inception To Support Growth

Rs. 250 Crs. in Aug’15

Rs. 160 Crs. in May’14

Rs. 40 Crs. in Jul & Aug’12

Rs. 10 Crs. in Apr’11

Rs. 15 Crs. in Apr & Aug’10

Our Founders

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Mr. Hegde was a Director – Microfinance and Micro enterprises businesses in Fullerton India Credit Company, as acore member of the team which conceptualized, developed and started the Micro Business from mid-2007.

Prior to that, Mr. Hegde had worked in ICICI Group between 1992 and 2007, in the Rural and Micro banking Groupwith a range of responsibilities covering strategy to execution. During this phase, he worked very closely with themicrofinance sector, lending to over 80 MFIs in the country with an aggregate exposure of over Rs. 3,000 Crore. Inhis initial years in ICICI, he worked for Project Financing in the Agri Business Division, responsible for implementing aspecial project, namely Agriculture Commercialisation & Enterprise (ACE) programme for USAID. Prior to ICICI, Mr.Hegde had also worked in Bank of Maharashtra for 8 years in Agriculture Finance in Karnataka and Maharashtra.

He completed his Post Graduate in M.Sc. from University of Agricultural Sciences, Bangalore in 1983 and qualifiedCAIIB from Indian Institute of Bankers, Mumbai.

Mr. Nishtala is a Business Operations Specialist, who headed the Microfinance and Microenterprises Business ofFullerton India and was a core member in the team which conceptualized, developed and started the MicrofinanceBusiness of the company from early 2008.

Earlier, he was responsible for coordinating the rollout of Fullerton India’s 800-branch network includingtechnology, people and premises. Prior to this Mr. Nishtala had worked for over 20 years in the Eicher Group in avariety of sectors including commercial vehicles, tractors and auto components, in various functions ranging fromSales and Marketing, Strategic Planning and Implementation. He was head of Corporate Strategy, and worked withthe owners in re-structuring the group’s portfolio. He also spearheaded the acquisition and integration of a Designcompany in the US, to accelerate the Group’s Engineering Services Business.

He completed his Post Graduation in Industrial Engineering from NITIE, Mumbai in 1986 and Graduation inMechanical Engineering from Jawaharlal Nehru Technological University, Kakinada, Andhra Pradesh.

Mr. Brahmanand HegdeExe. Vice Chairman &

Co-Founder

Mr. Ramakrishna NishtalaMD & CEO, Co-Founder

Board of Directors

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Mr. C.B. BhaveNon-Executive

Chairman & Independent Director

Ms. Radhika HaribhaktiIndependent

Director

Mr. James Abraham

Independent Director

Mr. Sandeep Farias

Nominee Director, Elevar Equity

Mr. Ash Lilani

Nominee Director, Saama Capital

Mr. Sumir Chadha

Nominee Director, WestBridge Capital

Mr. Badri Pillapakkam

Nominee Director, Omidyar Network

Note: Board of Directors also includes the Founders

Management Team

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Mr. Sudesh Chinchewadi

EVP, Chief Financial Officer & CS

Mr. Praveen Arora

EVP, Chief Business Officer

Dr. Ashok NagpalSr. VP- Strategic

Initiatives & Operations Head

Mr. Mahesh S.G.Sr. VP – Rollout &

PIP Business (Northern States)

Mr. Mohan K Pattabhiraman

Sr. VP- Internal Audit Head

Mr. Nikhil Bandi

Sr. VP- Chief Information Officer

Mr. T.K. Srinath

EVP, Chief Human Resources Officer

Mr. Dhananjay Tiwari

EVP, Chief Risk Officer

Awards & Recognitions

“CEO with HR Orientation” by Vijayavani - BFSI award to Mr. Brahmanand Hegde,

MD & CEO in September, 2015

“Most Influential CFOs of India” by CImA, London to Mr. Sudesh

Chinchewadi, CFO & CS in July, 2015

“Segment Leadership & Financial Inclusion” by SKOCH Award in June, 2016

“Best Financial Reporting for FY15, FY16 & FY17 – Medium Business” award by Times

Network & CMO Asia

“The India CFO Award for Excellence in Finance in a Start-Up” by IMA to Mr. Sudesh

Chinchewadi, CFO & CS in May, 2016

“IFC – Mint Strategy Award” in September 2016

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Happy MSME Customers

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52

Pre Loan Post Loan

Mr. Balasubramaniyam, Power loom owner

Perundurai, Erode dist., Tamil Nadu

Customer & Profile Impact by Vistaar’s Loan

Mr. Surekha Sunil Teli, Kirana Shop owner (primarily sells oil)

Rabakavi, Bagalkot dist., Karnataka

15

36

1

3

-

1

1

2

2

3

3

4

4

-

10

20

30

40

50

Pre Loan Post Loan

Annual RevenueHousehold Surplus

Rs. Lakhs p.a.

No. of Power looms

Mr. Siddeshwar Kambale, Small Shop owner (sells

bags & sports goods)Rabakavi, Bagalkot dist.,

Karnataka

11 13

1

2

-

1

1

2

2

3

3

(1)

4

9

14

19

24

Pre Loan Post Loan

Annual RevenueHousehold Surplus

Rs. Lakhs p.a.

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Version: Website12-Feb-2018