Kinnevik Rocket Capital Markets Day

May 2014

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The information contained in this presentation is public information only, but it does not necessarily represent all information related to the issues discussed or presented herein, or all views of the company. The information has been researched by the company with due care and all and any evaluations or assessments stated herein represent the company’s opinions. We advise you that some of the available information has been independently verified and may be based on statements by third persons, but no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein. Certain statements contained herein may be statements of future expectations and other forward-looking statements that are based on our current personal views and assumptions and involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those expressed or implied in such statements. None of our team shall assume any liability whatsoever (in negligence or otherwise) for any loss or unrealized profit whatsoever arising from any use of this presentation or the statements contained herein as regards unverified third person statements, any statements of future expectations and other forward-looking statements, or the fairness, accuracy, completeness or correctness of statements contained in the presentation, or otherwise made in connection with this presentation.

This presentation does not constitute an offer or invitation to purchase or subscribe for any investment and neither this presentation nor any part of it shall form the basis of or be relied upon in connection with the entering into any commitment or contract whatsoever, and is solely intended to communicate information regarding the company, its business track-records and team members. No one should base their investment decisions on this presentation but should form their personal opinions on the basis of further available information and evaluations and assumptions. In addition, any prospective investor should consult its own attorney and business advisor as to the legal, business, and tax and related matters concerning any investment decision.

Disclaimer

Namshi: fashion ecommerce market leader in the Middle East

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Largest in-season fashion ecommerce player in the Middle East

Current focus on 6 energy-rich countries of the Gulf Cooperation Council (GCC): Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Bahrain, Oman

200 employees across offices in Dubai, Saudi Arabia, and India

Own warehouse in UAE stocked with inventory & own last-mile in UAE

Key focus on unrivaled product assortment and excellent customer experience

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Namshi’s current focus is the GCC region, which represents USD 1.6tr GDP and a population of 50m with ~4-5% GDP growth2

Clear opportunity for fashion retail: AT Kearney ranks 3 GCC countries in top 10 countries globally for apparel retail investment opporunity3

High online engagement: Saudi Arabia has highest Twitter penetration in the world and among the highest on Facebook and Youtube4

Gulf Cooperation Council (GCC)

USD 3b GCC fashion ecommerce market by 20181

1. Visa MENA eCommerce Report 2013; Alpen Capital GCC Retail Industry Report 2012; Namshi calculations 2. World Bank databank (http://data.worldbank.org/; accessed May 2014) 3. AT Kearney Global Retail Development Index 2013 4. PeerReach

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E-Commerce well poised to circumvent many challenges of offline fashion retail in the Middle East

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Underdeveloped retail

infrastructure

Monobrand retail culture

Fragmented markets

Hiring challenges

Cultural challenges

Namshi provides broad & differentiated assortment, with strong private label and over 70% of brands sourced internationally

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SS14 Revenue Split

40%

20%

40%

Clothing

Accessories & Bags

Shoes

Exit Price

Entry Price

Basic Style

Middle East offers many opportunities for those that can manage the operational challenges…

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Low credit card penetration & high COD

Underdeveloped delivery infrastructure: lack of street addresses and qualified 3rd party providers for logistics and lastmile

Many countries: fragmented markets & international customs issues drive operational complexity

Hiring & talent shortages: strong reliance on expat workers in GCC makes hiring and scaling processes difficult

Poor customer experience from other international and local competitors

Fragmentation and operational complexity drives high cost & need for strong technology to manage complexity

… which Namshi has overcome through own warehouse, own last-mile, & strong technology-driven processes

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Operate own warehouse based in UAE to control critical fulfillment and quality processes

Own last-mile delivery in UAE to deliver flawless end-to-end customer experience

Strong technology platform & India backoffice to manage complexity & ensure customer experience

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Strong online marketing presence with excellent payback on customer acquisition

Recently started offline marketing, including TV, focused on building the Namshi brand and customer trust

~600k fans

#1 lifestyle app in KSA & UAE

~400k subscribers

Strong online marketing presence & recently introduced TV

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Share of mobile phone traffic has tripled year-over-year

Goal is to provide optimized experiences for all major platforms: desktop, mobile & tablet on both web and app

iOS universal app launched in March, Android coming in June

Mobile-optimized website and apps drive 60% of user sessions

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At end of 2013, over 100k customers with high loyalty & growth, as well as unique assortment and ops platform poised for growth

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Customer base 000s

Served over 100k customers to date, with over 90k active in last 12 months

Over 150k orders in 2013 at high average order value

Best ecommerce customer experience in region driven by strong in-house ops platform

High loyalty & repurchase rates driven by assortment & experience

100

30

2013 2012

Orders 000s

150

60

2012

2013

Hosam Arab Founder & MD Buying

Faraz Khalid Founder & MD Operations

Hisham Zarka Founder & MD Marketing

Namshi’s leadership team

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