Asia’s Leading Venture Capital & Private Equity House

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Overview

Venture Capital in KOREA

Overview

Venture Capital in KOREA

RANK COMPANY

INVESTMENT ($M)

Total ($M)

VC PE

1Korea Investment

Partners248 78 326

2 Softbank Ventures 139 33 172

3 KB Investment 138 - 138

4 SBI Investment 136 35 171

5 Posco Capital 94 53 147

RANK COMPANYINVESTMENT ($M)

Total ($M)VC PE

1 IMM Investment 70 543 613

2 Korea Investment Partners 248 78 326

3 Interbest 87 117 204

4 Aju IB Investment 84 95 179

5 Softbank Ventures 139 33 172

6 SBI Investment 136 35 171

7 POSCO Capital 94 53 147

8 KB Investment 138 - 138

9 Nau IB Capital 14 124 138

10 Neoplux 67 60 127

Biotech/Healthcare

26.0%

ICT Service24.5%

Media & Entertainment12.4%

Industrial Material10.3%

Marketplace8.7%

Gaming6.8%

Others11.3%

Overview

Korea Investment Partners

As a subsidiary of Korea Investment Holdings, Korea Investment Partners(KIP) is a leading venture capital and private equity with ample investment experience.

We have demonstrated abilities to adapt quickly to changing market conditions and successfully capitalized on market dislocations through various investment approaches.

Mission

KIP’s mission is to be a trustworthy partner for rapidly growing companies through diversified value-enhancing investments,providing global networks and operational supports.

Goal

KIP’s investments come in various forms, but our unified goal is to create value in each of our investments through strategicpartnerships and to forge strong relationships integral to building business across different industries.

Fund-Oriented Professional VCFundamental Investment Philosophy Oriented

Quality, Responsibility, Stability

Trustworthy Pacemaker of Growing Companies

Maximize Profits of Partners and Shareholders

Mission & Goal

Business Strategy Management Philosophy Management Ideology

Competitive StrengthWith 90 experts in-house to support the growth and success of portfolios

CIO

Operation Division

Investment Management

Business Operation

Investment Management 1

Investment Management 2

Investment Management 3

Investor Relations

Market Research

Investment Board

Audit

CEO / President

ComplianceRisk Management

Investment Committee Risk Management Committee

Internet/SoftwareInvestment Division 1

KIP China

KIP U.S

Investment Division 2

Investment Division 3

Investment Division 4

Investment Division 5

Private Equity Division

Contents Fintech

Bio1 Bio2

Shanghai Beijing Chengdu

PE1 PE2 PE3

KIP Singapore

Company Structure

Incorporation

1986

4 Funds Closed($21 M)

Shanghai office Opened

2008

1stR

MB Fund C

losed

2011Beijing office O

pened2012

1StPrivate Equity Fund C

losed

2015

Chengdu O

ffice Opened

US C

alifornia office Opened

2016

17 Funds Closed($420 M)

2009

47 Funds Closed($3,403 M)

2019

Singapore Co-G

P Fund Closed

1987 1999

Highlights

1stVC

Fund Closed

Key Success Factors

Dedicated Management & Team

Multiple Regional Bases

Diversified Portfolio

Active R&D

Expertise

Group Network

Competitive Strength

Unique Integration of the team, network, and expertise has enabled us to have an extensive group of portfolio, a continuous deal flow, and know-how.

Database & Network Driven Investment

Team

Broad Investment Spectrum

Network

Deal Flow Portfolio

Know-how

IncreasedSuccess

Rate

Investment Scope

KIP covers wide range of investment as a leading venture capital and private equity. Regardless on the growth stage of companies, if they have willingness to global expansion and core technology that can generate new market, they will be under KIP’s investment scope.

Growing IndustryInvestment

Customized InvestmentWith Different Growth Stage

Investment for Global Expansion

Investment that provides solutions for efficient growth of portfolio companies

Early Venture Cherry Picking

Ente

rpris

e Valu

e

Early Growth Mature / Expansion

Growth Capital, Secondary

M&A, Mezzanine, etc

Cross-border

IPO

Industrial Coverage

KIP’s Investment Performance & Portfolios

Investment Performance

For more than 30 years after incorporation, KIP has shown steady and active investment performance.

Since 2010, we have invested into 600+ companies globally with total amount of 1.8 billion USD.

Through our investment, we support global entrepreneurs to grow with pace and stability.

9 Years(2010~2018)

1.8B USD

600+ Companies0

200

400

600

800

1000

1200

1400

1600

1800

2000

2010 2011 2012 2013 2014 2015 2016 2017 2018

$ Mi

llion U

SD

Year

0

100

200

300

400

500

600

700

2010 2011 2012 2013 2014 2015 2016 2017 2018

# of

Com

pany

Inve

sted

Year

-

100

200

300

400

500

600

700

2010 2011 2012 2013 2014 2015 2016 2017 2018 (E)2019 (E)2020

Investment Distribution

Management Performance

KIP is currently managing total of 47 Funds with the asset under management of 2.8 billion USD.

With expertise in Fund Management, we are sustaining pooled IRR of 18%.

AUM 2.8B USD

Avg. IRR18%

47 Funds

Management Performance

7.9X / IRR 98%

1.7X / IRR 14%

5.4X (divesting) / IRR 293%

2.7X / IRR 72%

4.6X / IRR 90%

7.1X / IRR 100%

6.8X / IRR 84%

16.5X (divesting) / IRR 185%

5.1X / IRR 309%

4.5X / IRR 361%

3.8X / IRR 80% 2.8X / IRR 36%

KOSDAQ & BIOTECH

250 209 276 300

745

227361 318 317

566

831994

1,847

0

500

1,000

1,500

2,000

Market Cap ($M USD)

PHASE I

PHASE II

PHASE III

* As of Oct 11th, 2019

COMPANY APPROACH TARGET COMPANY APPROACH TARGETAbClon Antibody therapeutics Solid Cancer IntronBio Super bacteria antibiotics MRSA

Olix RNA interference Skin scar GClabcell NK Cell Therapy Liver Cancer, LymphomaNkmax NK Cell Therapy Cancer HLB Lifescience Targeted Cancer Drug Gastric cancerOlipass Peptide Nucleic Acid, RNA treatment Analgesic Sillagen cancer specific antibodies Liver cancerABL Bio Dual-antibody platform Solid Cancer Genexine Antibody Fusion protein Cancer & infectious disease

Pharmabcine Antibody therapeutics Brain tumor Helixmith Plasmid DNA Therapeutics Diabetic peripheral neuropathyEutilex Cancer Cell Therapy Lymphoma

KIP-KOSDAQ

Valuation ($M) Valuation ($M)

Founded1st Inv. $5.5M

2nd Inv. $4.6M

IPO

Founded

1st Inv. $3.6M

2nd Inv. $2.8M

IPO

$0

$500

$1,000

$1,500

2016 / 02 2016 / 03 2017 / 03 2018 / 12 2019 / 05

As of May 2019

$0

$50

$100

$150

$200

2001 / 04 2012 / 02 2012 / 07 2013 / 03 2014 / 12 2019 / 05

3rd Inv. $1M

As of May 2019

$0

$50

$100

$150

$200

$250

$300

2016 / 12 2017 / 03 2018 / 04 2019 / 05

Founded1st Inv. $8.2M

2nd Inv. $2.8M

Pre-IPO

Valuation ($M)

Follow-on Inv. Supporting

Solid-Close Relationship with KOSDAQ

Strong Performance in KOSDAQ

Developing therapeutic drugs for immuno-oncology & neurodegenerative diseases

12th place in KOSDAQ Market Cap ranking

Specialized in aircraft manufacturing and has global networks with themajor aerospace companies.

Sustained and stable revenue and profit growth.

Developing innovative therapeutics for patients with unaddressed rare diseases

$400+ Market Cap is expected at IPO

KIP as a Strategic Partner

By supporting technological cooperation and business convergence through Portfolio & Business Partners Network in bio/healthcare industries, we support both stable and exponential growth of companies.

Region Targeted Investment

ChinaIndustrial, Deep-Tech, Platform

U.SFirst-Penguin / New Market Creator

EuropeGaming(Mobile), Fin-Tech, IoT, Life Sciences

SEA & AUConsumer Internet (Mobile), Fin-Tech, Biotech

KIP Overseas Investment

Overseas Investment

Type 2010 2011 2012 2013 2014 2015 2016 2017 2018.9

Investments

Domestic

# 28 31 36 36 49 58 84 72 61

$M 63.7 83.0 79.5 110.1 112.2 147.0 196.0 257.0 145.0

Overseas

# 2 3 6 3 12 23 28 39 34

$M 7.8 10.8 21.1 10.2 19.2 111 122 116.3 107

Total

# 30 34 42 39 61 81 112 111 95

$M 71.5 93.7 100.6 120.3 131.5 258.0 318.0 373.3 252.0

% of Overseas

Investment

# 6.7% 8.8% 14.3% 7.7% 19.7% 28.4% 25.0% 35.1% 35.8%

$M 10.9% 11.5% 21.0% 8.5% 14.6% 43.0% 38.4% 31.2% 42.5%

# of Employees

Investment 21 24 28 31 39 41 50 60 61

Others 9 12 13 13 16 15 20 25 28

Total 30 36 41 44 55 56 70 85 89

Overseas 5 5 8 9 10 11 16 22 22

As Asia’s leading VC & PE, KIP operates region targeted investments with our global entities.

By supporting technological cooperation and business convergence through Portfolio & Business Partners Network in various industries and countries, we are actively expanding overseas investment portfolios both quantitatively and qualitatively

150+ Number of Investments

$525M+ Investment Amount

Investment Scope China U.S

Europe SEA & AU

Global Regional Coverage

With experts in the region and know-hows from Headquarter, we ensure extraordinary performance of fund to investor and successful growth to companies.

The scope of KIP’s activities is worldwide, including China, US, Europe, South East Asia, and Australia.

United StatesFirst-Penguin / New Market Creator

Korea Investment Partners US

Korea Investment Partners US

$100M Investment Amount

Invested in 25 Companies

Established in 2016, investing in the first generation of innovative companies supported by technical growth

Korea Investment Partners US

Headquarter Australia California, USA California, USA

Inv. Year 2015 2015, 2016 2015

Exit Type (Year) Acquired by Allergan (2018) Acquired by J&J (2019) Acquired by Playtika (2019)

IRR / Multiple* IRR 80% / Multiple 3.8 IRR 36% / Multiple 3.0 IRR 30.64% / Multiple 2.92

* Only amounts collected (upfront) are calculated.

Headquarter Israel Massachusetts, USA

Inv. Year 2017, 2018, 2019 2015, 2018

Status NASDAQ (ENLV) NASDAQ

Website www.kipvc.com (English) / www.kipvc.co.kr (Korean) / www.kipvc.cn (Chinese)

KIP China (Beijing)31F China World Office 1,1 Jian Guo Men Wai Avenue, Beijing, China

KIP Korea Head Office10F(Rm. 1001) ASEM Tower, 517 Yeongdong-daero,Gangnam-gu, Seoul 06164, Republic of Korea

KIP China (Shanghai)United Plaza 4102, West Nanjing Road 1468,Jing’an District, Shanghai, China

KIP U.S (Sunnyvale)333 West El Camino Real, Sunnyvale,California 94087, USA

KIP China (Chengdu)RM 1004, Bldg. 2A, No. 200 Tianfu 5th st., ChengduHi-Tech Development Zone, Chengdu, Sichuan, China

Office

KIP Singapore (Singapore)2019 Q4

Contact:TEL: +1-408-542-9676EMAIL: contact@kipvcus.com

Creating value and forging relationships integral to building businesses

ASIA’S LEADING VENTURE CAPITAL & PRIVATE EQUITY