BIGLIFE SDN BHD Company No. 201001040731 (924656-U)

AirAsia BIG LoyaltyIntroductionUpdated: 10 Apr 2020

About BIG Loyalty

❏ BIG Loyalty was incorporated in December 2010 and is owned and operated by BIGLIFE Sdn Bhd, Company No. 201001040731 (924656-U), a subsidiary of RedBeat Ventures Sdn Bhd in collaboration with Aimia Inc.

❏ Started as an airline loyalty programme for AirAsia, today we have grown into a comprehensive lifestyle platform that goes beyond just flights, presenting a new, holistic way of rewarding loyal BIG Members with over 300 partners across lifestyle, travel and financial services categories, where over 25 million BIG Members can earn and redeem BIG Points through BIG Loyalty app.

❏ BIG Loyalty is currently one of the largest loyalty programmes across Asia and beyond, where millions of BIG Members can enjoy the lowest AirAsia flight fares and exclusive offers from our wide range of partners.

❏ BIG Members can earn BIG Points from a great variety of brands; and use them to redeem AirAsia flights, pay for AirAsia bookings and redeem partners' deals for greater savings and rewards.

❏ Other members-exclusive privileges include 24-hour priority booking for all AirAsia sales and instant points conversion from bank or loyalty points to BIG Points and vice versa on BIG Xchange.

❏ BIG Loyalty won the "Excellence in Management" award at the Loyalty Awards 2020, the only Asian company amongst other European winners. BIG Loyalty is also a proud winner of the Loyalty Mega Awards 2019 and was named Best in eCommerce - P2P and Best in eCommerce (eRetailer) - Lifestyle & Travel at the Asia e-Commerce Awards 2019.

❏ The BIG Loyalty app is available for download on the Apple App Store and Google Play Store. For more information, log on to airasiabig.com or follow BIG Loyalty on Facebook, Twitter, LinkedIn and Instagram.

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Our Shareholders

RedBeat Ventures Sdn Bhd (80%) Aimia Holdings UK II Limited (20%)

❏ RedBeat Ventures (RBV) is a 100% wholly owned subsidiary of AirAsia Group Berhad (AAGB).

❏ RBV is the venture arm of AirAsia, focused on capitalising innovation and innovative ideas.

❏ Currently, it comprises three main pillars, namely Venture Builder, Venture Capital and Tech Academy.

❏ Venture Builder comprises digital businesses in which AirAsia has at least 80% equity. The aim is to incubate and build these companies, all of which contribute to the AirAsia travel and financial platform ecosystem. Among the companies in this fold are BigPay (Asean digital bank), AirAsia BIG Loyalty (Loyalty programme operator), Teleport (cargo operations), Santan (on-ground inflight menu chain of restaurants), Form.at (media content company) and RedRecords (music label).

❏ Venture Capital investing in startups that could potentially help to grow AAGB businesses. RBV works with these startups and run pilots to test their products. If they are viable, will partner them or invest 2%-20% equity in them.

❏ Tech Academy is collaborating with Google to train a steady pool of software engineers, data scientists, AI specialists and other digital experts who are able to leverage on cutting-edge technology and infrastructure such as cloud.

❏ Aimia Holdings UK II Limited is a subsidiary of AIMIA.

❏ Aimia Inc. (TSX: AIM) (AIMIA) is a loyalty and travel consolidator focused on growing earnings though its existing investments and the targeted deployment of capital in loyalty solutions and other sub-sectors of the rapidly-expanding loyalty and travel markets.

❏ Its investments in travel loyalty include the Club Premier program in Mexico, which it jointly controls with Aeromexico through its investment in PLM, and an investment alongside AirAsia in travel technology company BIGLIFE, the operator of AirAsia BIG loyalty programme.

❏ Aimia also operates a loyalty solutions business, which is a well-recognized, global full-service provider of next-generation loyalty solutions for many of the world's leading brands in the retail, CPG, travel & hospitality, financial services and and entertainment verticals, including through Middle East coalition.

❏ Aimia’s solutions help clients attract, activate, engage and grow customers to become brand advocates. AIMIA also provide analytics platforms for retailers to understand their customer data and allows them to monetize their data through innovative partnership models.

❏ With 80+ years of loyalty and marketing experience, Aimia operates over 100 programs with more than 140 million members in 32 markets globally.

❏ For more information about Aimia, visit www.aimia.com.

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BIGLIFE Sdn Bhd (BL)(Malaysia)9 Dec 10

Loyalty Operator

BIGLIFE Digital Singapore Pte. Ltd.

(Singapore)10 Jun 14

Buy & Sell Distribution

PT BIGLIFE

Indonesia1

(Indonesia)4 Nov 11

Buy & Sell Distribution

BIGLIFE(Thailand)Co. Ltd 1

(Thailand)13 Jan 12

Buy & Sell Distribution

20%80%

RedBeat Ventures Sdn Bhd (RBV) Holding Company

Aimia Holdings UK II Limited (AIMIA)Strategic Investor

49%1100% 99%

1%

100% 100%

BIGLIFE Digital

Sdn Bhd(Malaysia)25 Oct 17

Principal Hub

BIGLIFEHong Kong

Co Ltd(Hong Kong)

15 Dec 17Investment Holding

BIGLIFEGuangzhou

Co Ltd2

(China)28 Nov 18

Buy & Sell Distribution

BIGLIFEIndia

Pvt Ltd(India)

5 Nov 18Buy & Sell Distribution

100% 99.99%

BIGLIFE PhilippinesInc

(Philippines)18 Mar 19

Buy & Sell Distribution

BIGLIFEJapan Co. Ltd(Japan)

19 Mar 19Buy & Sell Distribution

BIGLIFE VietnamCo Ltd

(Vietnam)3 Dec 19

Buy & Sell Distribution

99.93% 100% 100%

Notes: 1. The structure are per the approved Corporate Structure by Board. The actual shareholdings of BIGLIFE (Thailand) Co. Ltd have yet to transfer to BL from individual shareholders as pending obtaining of Foreign Business License (FBL). 2. 亚航积分科技（广州）有限公司.

Our Group Corporate Structure

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Started as the loyalty programme for AirAsia Group of Companies, today we are a comprehensive lifestyle reward platform where over 25 million BIG Members can earn and redeem BIG Points with 300+ partners

China3.3 million

BIG Members

India1.4 million

BIG Members

Indonesia1.3 million

BIG Members

Malaysia4.0 million

BIG Members

Philippines1.4 million

BIG Members

Thailand2.6 million

BIG Members

Operated in 6 offices across Asia

Notes: All numbers are as of 31 Dec 2019. Page 5

25.2m BIG Members8.3m active members with earn and/or burn activities in last 12 months

2.0mAirAsia BIG App Downloads~300k monthly active users~60k monthly downloads, 4-star rating

300+PartnersWith over 59m transaction records annually

16.6b ptsPoints Balance

Our Stats

Notes: All numbers are as of 31 Dec 2019. Page 6

Launched BIG Loyalty app

Page 7Notes: 1. Terminated and ceased.

eStore Affiliate Marketplace

Introduced of new products:● BIG Deals● BIG Points as currency● BIG Points Purchase● BIG Xchange

2015Introduced of Fixed Points & Final Call Sale2nd Co-brand card inThailand with Bangkok Bank

2016Enhanced Star Product by splitting out Final Call X

Focus on Products2017

BIG Innovations

2019

2018BIG Points as currency

RHB Bank Strategic partnership

Launched of AirAsia Cards: ● Philippines: RCBC● Malaysia: Hong Leong Bank ● Indonesia: Permata (Feb’19)

Introduced of new products: ● Beyond AirAsia Flights,

Hotels, Activities, OurShop

● Rewards Code

REWARDS

1st Indonesia Co-brand card

with CIMB Niaga Bank1

1st Co-brand cards: ● Thailand: KBank1

● Malaysia: Citibank1

2014

When it all started2010 - 2012

Aimia invested in BIG Loyalty with valuation of US$ 120m

2018

Aug - 20m BIG Members milestone

Launched World’s First Freedom Flyer Programme

Key milestones through the years

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Best Regional Loyalty Marketing Campaign 2017

The Loyalty & Engagement Awards 2018 - Best Loyalty Programme (GOLD) - Travel/Hospitality

10th Annual Loyalty Conference and Awards 2018 - Best Use of Technology (GOLD)

A+M Magazine Excellence Awards 2018 – Excellence in Loyalty Marketing (SILVER)

Asia eCommerce Awards 2018 - Best eCommerce Merchant (Travel/Hospitality) (GOLD)

2014

Excellent in Loyalty Marketing (GOLD)

Best Regional Loyalty Marketing Programme (BRONZE)

The Marketing Events Awards - Best Multi-Channel Campaign (GOLD)

The Marketing Events Awards - Best Consistency in Branding (BRONZE)

Best Regional Loyalty Marketing Programme (BRONZE)

Best Use of Social (SILVER)

Loyalty Programme of the year (BRONZE)

Excellent in Loyalty Marketing (SILVER)

Best Regional Loyalty Marketing Programme (GOLD)

Best Loyalty Programme (GOLD) - Travel/Hospitality

Best Use of Social (GOLD)

The Mega Award Loyalty Programme of the year (GOLD)

Best Regional Loyalty Marketing Programme (GOLD)

20162015 2017-2018

Recognised and acclaimed worldwide

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2019

The Mega Awards 2019 (Tampa, Florida)29 October 2019Loyalty Programme of the year

Marketing Magazine's 2019 (Singapore) 7 November 2019Excellence in Marketing Innovation (BRONZE)

Marketing Asia eCommerce Awards 2019 (Singapore) 21 November 2019Best in eCommerce : Classified/ P2P (GOLD)

Marketing Asia eCommerce Awards 2019 (Singapore)21 November 2019Best in eCommerce (eRetailer) : Lifestyle & Travel (GOLD) Marketing Asia eCommerce Awards 2019 (Singapore)21 November 2019Best in eCommerce (Brand) : Lifestyle & Travel (SILVER)

Global Flight/ The Loyalty Awards 2020 (Vancouver, Canada)24 February 2020Excellence in Management

2020

Recognised and acclaimed worldwide

Private and Confidential

Key Value Proposition

4. Exclusive and Long Term

Partnership with AirAsia

> 30 years2

3. Large Network of Coalition

Partners

> 300 Regional Partners

5. Strong and Supportive

Directors and Management

Team

Airline and Loyalty expertise

2. Multi-Country Airline Coalition

Program

> 10 countries in Southeast Asia

1. Attractive Business Model

> US$ 100m revenue1

Note: 1. Cumulative from Dec’10 to 31 Dec 2019. 2. Effective year 2014 Page 10

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Exclusive Relationship

The ONLY loyalty operator of AirAsia Group3

Airline Ticket Rewards to:

Note: 1. By passengers carried. LCC: Low Cost Carrier. 2. As of 31 Dec 2019; with total 260 Aircrafts across 8 Airlines, 6 short-haul, 2 long-haul. 3. AirAsia cannot reward its customers with any loyalty currency other than BIG Points1 excluding air partner related accruals; 4.15 years effective 2014 with optional 10 year (automatic renewal) and subsequent 5 year renewal periods.

Long Term Agreement

15 year + 10 year + 5 year4 with agreed minimum points

purchase

Aligned Incentives

Both AirAsia and AirAsia BIG agree to promote and market

each other’s businesses

The Largest LCC in Asia with 600+m passenger carried1, with 100m annual pax

24 Hubs2

23 Countries2

160+ Destinations2

380+ Routes, with 110+ Unique Routes2

4th Largest Airline in Asia(pax carried)

BIG Members’ Seats Redemption

Exclusive and Long Term Partnership with AirAsia

• Executive Chairman of AirAsia Group Berhad (AAGB)• Co-founder of AirAsia Group and Tune Group • Non-Independent Executive Chairman of AirAsia Group Berhad• Non-Independent Non-Executive Director of Tune Ins Holdings

Bhd

Datuk Kamarudin Bin Meranun (Chairman)

• President of RedBeat Ventures (RBV)• Deputy Group CEO of Digital, Transformation, Corporate

Services of AirAsia Group Bhd (AAGB)• Prior to this, she was the CEO, Executive Director and

Regional Head of Corporate Finance, Treasury and Investor Relations at AirAsia

• Before joining AirAsia, she worked for 9 years in the financial industry in New York, London and Malaysia

• Chief Executive Officer at Aimia Inc• Extensive loyalty industry experience includes six years at Premier

Loyalty & Marketing, where he was a Board Director and the founding CEO responsible for the management of Club Premier, Mexico’s leading coalition loyalty program.

• Was the Co-founder and Managing Partner of On Point Loyalty, an investment and advisory firm dedicated to airline loyalty

• He has also worked as a strategy consultant and frequent flyer program director for Aeromexico and TACA Airlines.

Aireen Omar (Member, RBV Representative)

Jeremy Rabe(Member, AIMIA Representative)

Riat Asmat (Member, AirAsia Representative)

• Group Chief Financial Officer of RedBeat Ventures (RBV)• Deputy Group Chief Financial Officer of AirAsia Group

Berhad (AAGB)• Chief Financial Officer of AirAsia Berhad (AAB)• Finance Consultancy practice of PricewaterhouseCoopers

(PWC) in Malaysia.

How Kim Lian (Member, RBV Representative)

• AirAsia Malaysia Chief Executive Officer• Began as Managing Director’s Office for Proton Holdings Berhad• Chief Executive Officer of Caterham Automotive, established the

Caterham F1 Team as well as Caterham Racing-GP2.• Director Corporate Planning, Strategy & Biz Development of Naza

Strong and Supportive Directors

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Board of Directors

• CEO of travel360.com• Chief Commercial and Strategy Officer of RedBeat Ventures• Commercial Director, AirAsia Malaysia • Member of the World Federation of Advertisers (WFA) and

Malaysia Advertisers Association (MAA)

Spencer LeeChief Executive Officer, CEO

● Head of Cards for Malaysia in Maybank● Member of Association of Credit & Collections Malaysia

(ACM) and National Cards Group (NCG) chaired by Association of Banks Malaysia

• Senior Partner, Messrs Azlan & Partner Malaysia• Senior Advisor, State Trustees Limited Australia• Experienced in Corporate Law, Commercial Litigation, Legal

Compliance and Contract reviewing

Victor KawChief Commercial Officer, CCO

Magandra Haridas Head of Legal

Yap Poh PengChief Analytics Officer, CAO

● Head of Finance/CFO of Maybank Shared Services● Head of Finance, Group Cards and Personal Financing,

CIMB Bank● Audit & Assurance Manager, PwC Malaysia● ACCA, MIA, MICPA Certified Accountants

Sereen TeohChief Financial Officer, CFO

● Head of Commercial Analytics, Celcom Axiata● Senior Manager, Maxis● Experienced in leading A.I., Big Data monetization, machine

learning, campaign analytics and customer lifestyle strategy

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Strong and Supportive Management Team

Key Management Team

• Head, Brand and Marcom, AirAsia BIG Loyalty• Marketing Manager, RedBeat Ventures (RBV)• Marketing Manager, AirAsia Berhad (AAB)• Business Unit Head, Naga DDB Malaysia, led several key

businesses including Tourism Malaysia (Asia Pacific), Astro Group (TV, Radio and GoShop), Malaysia Digital Economy Corporation (MDEC) and Wyeth Nutrition

Liew Wai Fun Head of Marketing

Airline

Financial Services

Lifestyle & Travel BIG Points

Purchase

BIG Deals

Hotels, Transports, Activities

Lifestyle/ Vouchers

Flights & Ancillary Products

BIG Members PartnersRedeem

Earn

BIGDeals

A unique and rewarding ecosystem of BIG Points

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Less than 0- 13 one-way flights

Between 14- 23 one-way flights

Between 24- 49 one-way flights

Between 50 >one-way flights

Earn up to 2x BIG Points

Earn up to 4x BIG Points

Earn up to 7x BIG Points

Earn up to 12x BIG Points

Membership Status

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Redeem flights for your FRIENDS & FAMILY via BIG mobile app. Easier, faster, better and further!

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You can even view your BIG Points transaction history

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Your BIG Points validity is 2 years, first in first out.6 Sept 2019

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Add your credit card details to ease payment hassle

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You will not miss all our great promotions

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Insufficient BIG Points during payment? Top up with cash!

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Our Partners

Earn, redeem and convert BIG Points easily with over 300+ partners across travel, lifestyle and financial services categories

and more

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Meals Baggage Insurance Airport tax

Redeem from 625 BIG Points

(Every first 2 weeks of the month)

Redeem at up to 90% off

(Every third week of the month)

Redeem at up to 70% off

(Available all-year round)

Redeem from 0 BIG Points

(AirAsia Quarterly BIG Sale)

Travel with full flight redemption using BIG Points

Dining vouchers

Shopping vouchers

Hotels Activities

Instant loyalty points

conversion

Affiliate marketing

marketplace

Discounted deals (Collab

with Fave)

Redeem BIG Points for everyday lifestyle deals

Redeem Flights Book Flights BIG Points code BIG Deals BIG eStore BIG RewardsDeals

OURSHOP

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Where can you go? Gold Coast Seoul

TokyoBeijing

JakartaNew Delhi

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Bangkok

Macao

Tiruchirappalli

Where can you go?

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Singapore

PattayaSiem Reap

Where can you go?

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AirAsia Credit Card AirAsia Platinum Credit Card

AirAsia Cards - Fastest way to earn BIG PointsHong Leong Bank Malaysia

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AirAsia Debit Card AirAsia Platinum Credit Card

AirAsia Cards - Fastest way to earn BIG PointsPermataBank Indonesia

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AirAsia Credit Card

AirAsia Cards - Fastest way to earn BIG PointsRCBC Bank Philippines

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Bangkok Bank AirAsia Platinum MasterCard Credit Card

AirAsia Cards - Fastest way to earn BIG PointsBangkok Bank AirAsia Platinum MasterCard Credit Card

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Notes:1. Except to Gold credit cardholders whereby FFP status is gold. All countries are issued with credit card except Indonesia comes with debit and credit card. Page 32

● Earn up to 7x BIG Points● Welcome & Quarterly

Bonus up to 25k BIG Points

● Earn up to 7x BIG Points● Welcome Bonus up to 3.3k

BIG Points

● Earn up to 7x BIG Points● Welcome Bonus up to 8k

BIG Points

● Earn up to 3x BIG Points

Malaysia Indonesia

Philippines Thailand

*With China & India in pipeline..

AirAsia Credit CardsBIG Members will enjoy instant upgrade to Platinum membership status and enjoy following benefits1

2020 Objectives

1. Position BIG Loyalty as more than an airline loyalty programme but a comprehensive lifestyle rewards platform

2. Position BIG Points as a universal digital currency / ASEAN currency3. Educate on the many ways to earn and redeem BIG Points (beyond flights)4. Demonstrate how easy it is to earn BIG Points daily on everything you do - eat, shop, play, travel, bank, fuel,

top up ewallet, AirAsia Credit Card usage etc5. Drive member sign up, engagement and usage (earn/redeem)6. Promote BIG Xchange as a points exchange hub

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2019 In 5 Years Growth

BIG Members ~25.2m ~46m 1.8x

Active Members(with one earn and/or burn activity in last 12 months)

~8.3m(33%)

~20m (43%)

2.4x

Points Issuance ~12b ~88b 7x

Points Redemption ~9b ~62b 7x

Burn / Earn Ratio 75%1 70% -5pp

Valuation US$ 125 - 250m2 US$ 1b 4 - 8x

Notes: 1. High as first expiry was on 1 Jan 2020. BIGLIFE has refreshed all Members points to 3 years expiry on 1 Jan 2017, when there was a change of expiry policy from 3 year date stamping to 3 year inactivity in 2017. 2. US$ 125m was based on precedent transaction of last disposal by Yickal Holdings. US$ 250m was based on latest valuation by Bankers in Dec 2019. Pp: percentage point.

Our Key Target

Strategic use of members data

in the evolution of hyper personalization

Invest in the right technologies that will

innovate how we bring more value to our members

BIG Points as borderless universal digital currency to

perform transactions for everything

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Business Strategy to achieve the target

• Strong presence and branding in ASEAN for Loyalty

• Successful Business Model generating large revenue stream from commercial partners outside the airline

• Experienced and skilled team across ASEAN in running the business

• Track record from inception to award winning largest loyalty program in ASEAN

• Sustainable Future Growth Plan

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In Nutshell

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BIGLIFE SDN. BHD. (“BL”) makes no representations as to the accuracy or any other aspect of report. BL is not responsible for any errors or omissions, or for the results obtained from the use of this report. All information in this report is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this report, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose.

Disclaimer

Thank youFollow us @airasiabig

BIGLIFE SDN BHD Company No. 201001040731 (924656-U)