SERIAL SYSTEM LTD1H2021 RESULTS PRESENTATION

Friday, 13 August 2021

By moving forward and thinking forward,Serial System helps its partners to be more competitive in the marketplace, today and in the future

FINANCIAL RESULTS

OUTLOOK

AGENDA

CORPORATE OVERVIEW

FINANCIAL RESULTS

Snapshot Of 1H2021 Performance

US$’000 1H2021 1H2020 Change (%)

Sales 438,288 314,287 39

Gross Profit 34,931 19,280 81

Gross Profit Margin (%) 8.0 6.1 1.9 ppt

Net Profit/(Loss) After Tax(Attributable to equity holders of the Company)

5,837 (4,483) NM

EPS/(LPS) - fully diluted (US cents)(1) 0.65 (0.50) NM

NAV per share (US cents)(2) 30/6/2021: 16.27 31/12/2020: 15.81

(1) Earnings/(loss) per ordinary share on a fully diluted basis are computed by dividing net profit attributable to equity holders of the Company by the weighted average number of shares in issue during the period of 895,841,914 after adjusting assumed conversion of all potential dilutive ordinary shares.

(2) Net assets value per ordinary share as at 30 June 2021 and 31 December 2020 is calculated based on the net assets value attributable to the equity holders of the Company as at the end of the respective period and the respective aggregate number of ordinary shares of 895,841,914.

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1H2021 Highlights Revenue of US$438.3M in 1H2021, lifted by recovery in all business segments

Revenue increased 39% y-o-y from US$314.3 million in 1H2020, when the initial outbreak of COVID-19 impacted demand for electronic components and

disrupted manufacturing activity in Asia, especially China

Sales for the electronic components distribution business increased 38% fuelled by increased global demand for semiconductors, particularly in Hong

Kong and China; improved business environment and global chip shortage playing out to the Group’s advantage in view of the Group’s extensive product

portfolio and strong presence in Asia, especially Hong Kong and China and the Group’s efforts to expand its base of suppliers and customers and its ability

to work closely with suppliers and customers for value creation

Turnover for consumer products distribution business sales rose 58%, as demand remains robust due to continued demand for computer peripherals in

Malaysia where new product launches from suppliers coincided with an increase in demand for desktop and portable computers and peripherals amid

adoption of work-from-home measures in compliance with the prolonged Movement Control Order

Turnover for other businesses increased to US$5.4 million from US$4.5 million a year ago, boosted by higher sales in the trading and distribution of fast-

moving consumer goods in Singapore and Malaysia, as well as higher sales in assembly and distribution of medical devices and hospitality and healthcare

solutions businesses driven by higher demand

Gross profit margin outpaced revenue growth, growing 81% to US$34.9M

Mainly due to higher margins achieved by the Group’s electronic components and consumer products distribution businesses with greater demand;

global chip shortage which resulted in many firms rushing to stockpile high demand chips also contributed to increased margin in the electronic

components distribution business

Net profit of US$5.8M in 1H2021, reversing loss of US$4.5M in 1H2020 5

Revenue Growth TrendSERIAL SYSTEM GROUP

-

200

400

600

800

1,000

1,200

1,400

1,600

44 92

186 184 183 228

315 354 382

545 616

658

817

1,036

1,222

1,403 1,492 1,527

792 731

314.3

438.3

Revenue (US$' million)

2%

8%

43%

13%

7%

24%

27%

18%

15%

6%

-48%

-8%

39%

6

33.4

50.7 57.5

62.6

73.5

90.4 91.5

97.4 105.1

118.6

54.2

45.9

19.3

34.9

8.7%9.3% 9.3% 9.5%

9.0% 8.7%

7.5% 6.9%7.0%

7.8%

6.8%6.3%

6.1%

8.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H20 1H21

Gross Profit & Gross Profit Margin(US$' million)

GP GP%

17%

1%

6%

-54%

Profitability

52%

13%

9%

23%

8%

13%

81%

-15%

7

5.1

12.0 10.1

7.9 11.2

16.1

11.0

4.6

9.6

17.7

8.0

0.3

(4.5)

5.8

1.3%

2.2%

1.6%

1.2% 1.4%

1.6%

0.9%

0.3%

0.6%

1.2%

1.0%

0.0%

-1.4%

1.3%

-2.0%

-1.5%

-1.0%

-0.5%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

(6.0)

(4.0)

(2.0)

-

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H20 1H21

Net Profit & Net Profit Margin(US$' million)

Net Profit Net Profit Margin (%)

-21%

Profitability

133%

-16%

41%44%

-31%

-59%

110%

85%

-55%

-97%

8

8.8

20.2 19.9 18.9

22.0

30.8

26.0 24.4

27.4

44.8

23.7

13.2

0.5

10.3

-

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

50.0

FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H20 1H21

EBITDA (US$' million)

-5%

Profitability

-2%

130%

17%

40%

-15%

-6%

12%

64%

-47%

-44%

1,914%

9

Financial Position

173.8

218.3 211.5

277.0

347.8

382.6

430.6

468.6 458.5

332.2 340.8

330.6

120.7

147.5 147.0

218.7

295.6 324.1

372.0 397.5

371.5

230.7 234.0 214.9

1.4 1.5

1.4

1.3

1.2 1.2 1.2 1.2 1.2

1.4 1.5 1.5

-

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

-

100.0

200.0

300.0

400.0

500.0

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21

Maintaining Healthy Current Ratio

Current Assets Current liabilities Current Ratio10

Financial Position

86.5

98.7 104.5 110.0

122.2 119.4

124.8

145.0 144.5

147.2 151.7 155.8

37.6

71.2

56.3

97.9

120.2

138.0 139.3

166.5

155.9

82.3 72.6

105.8

43%

72%

54%

89%

98%

116%112% 115%

108%

56%

48%

68%

0%

20%

40%

60%

80%

100%

120%

140%

-

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21

Net Gearing Ratio

Shareholders' Equity Net Borrowings Net Gearing Ratio

11

Financial Position

38

55 61

62 67

53 49 51 54

87

72

67

31

36

33

32 33

33 33 35 29 40

37

29

44 51 41

30 32

38

40

42

41

66

61

46 51

70 69

60 66

58 56 58

66

113

96

84

25

35

45

55

65

75

85

95

105

115

125

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21

Cash Conversion Cycle (days)

Trade Receivable Turnover (days) Trade Payable Turnover (days) Inventory Turnover (days) Cash Conversion Cycle (days)

12

- 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00

FY08

FY09

FY10

FY11

FY12

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY20

1H21

0.33

0.13

0.28

0.30

0.22

0.24

0.30

0.35

0.18

0.29

0.40

0.22

0.22

0.16

0.25

1.00

0.25

0.38

0.67

0.33

0.30

0.30

0.75

0.50

0.17

0.46

0.46

0.13

0.11

Interim Special Final

Total Dividend Payout (In Cent (SGD))(Interim & Final) each year

Dividend Yield

1.6%

4.3%

21.9%

4.6%

2.4%

6.3%

8.0%

6.3%

5.0%

7.9%

6.1%

8.5%

8.9%

13

1.3%

OUTLOOK

Adoption of 5G, electric and autonomous vehicles and IoTwill increase demand for chip with more processing powerand memory storage

US-China ’tech war’ will drive demand for chips Work-from-home measures in Malaysia expected to

continue, strengthening business momentum for consumerproducts distribution segment

Tension between China and the US Global economy still volatile as countries struggle to

contain new COVID-19 variants Rising shipping costs amid supply chain disruptions

Industry Outlook

Br ight Spot s

Uncer t aint ies

Group Outlook • The Group will continue to focus efforts to expand

product portfolio, widen customer and supplier base

• Added franchises for Singapore, Indonesia, China andTaiwan with Netherlands-based Ultimaker, a 3D Printingcompany

• With continued focus on recovery strategies, 2H2021 expects to remain profitable

• Fortifying 3D printing segment through Asia-wide franchise for Germany-based BASF to distribute 3D printing filaments

• Appointed as a distributor in Malaysia by Taiwan-based Asrock, fortifying our position as the leading motherboard and VGA distributor in Malaysia

CORPORATE OVERVIEW

Serial System At A Glance

One of Asia Pacific’s

largest electronic distribution networks

Electronic Components

(91%)*

1H2021 1H2020Hong Kong 51% 47%China 16% 14%South East Asia and India 19% 26%South Korea 7% 4%Taiwan 7% 9%

100% 100%

Consumer Products (8%)*

1H2021 1H2020South East Asia and India 96% 100%

Japan 4% 0%

Wide product range and diversified

customer portfolio

Total Shares: 905 million

Free Float: 38%Market Capitalisation: S$136M (As at 13 Aug 2021)

Dividend yield: 1-22% p.a. over 14 years

(1H2021: 1.6%)

One of the largest electronic components

distributorlisted on SGX

SERIAL SYSTEM

listed in Singapore

in 1997

* Group Revenue

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Diversified Business

Supporting a network of global brands, Serial System is a leading distributor of electronic components in Asia and a dealerfor a variety of consumer products. It is also a strategic investor in businesses in healthcare, managed print services and

fast moving consumer products.

Electronic ComponentsDistribution

Consumer ProductsDistribution

Medical DevicesAssemblyand Distribution

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Hospitality and Healthcare Solutions

Fast Moving Consumer Products

Managed PrintServices and 3D Printing

Strong Asia Pacific Presence

North China

Beijing

Qingdao

Xi'an

Extensive Distribution Network

Bangalore

New Delhi

Pune

CHINA

East China

Shanghai

South China

Shenzhen

HONG KONG

INDIA

Jakarta

INDONESIA

Penang

Kuala Lumpur

MALAYSIA

PHILIPPINES

Manila

(Headquarter)

SINGAPORE

Seoul

Daegu

SOUTH KOREA

Tokyo

JAPAN

The Group’s offices and representations

Taipei

Hsinchu

Taichung

TAIWAN

Bangkok

THAILAND

Ho Chi Minh

Hanoi

VIETNAM

One of the largest Asian geographical presence (in terms of offices)

in the electronic distribution industry

23 Sales Offices 13 Warehouses > 700 employees

in Asia Pacific

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Group StructureAs at 31 July 2021

Note:(1) Entities held by Serial System Ltd(2) Entities held by SCE Enterprise Pte. Ltd.(3) Entities held by Serial System International Pte. Ltd.(4) Investment holding and trading, and rental of properties(5) Excluded entities which are dormant, inactive or in process of liquidation

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Partnering Leading Suppliers

… more than 90 Franchised Product Lines in Serial System Group

Electronic Components Distribution

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Partnering Leading SuppliersConsumer Products Distribution

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Consumer Products Distribution

The Group’s 100%-owned subsidiary: Achieva Technology Sdn. Bhd.

Major suppliers include AMD, AOC, Asrock, Gigabyte, Intel, MSI, Philips and ViewSonic

Achieva Technology works closely with partner brands to fulfil their distribution needs and provides a onestop solution for their customers

In e-commerce, Achieva Technology maintains key channels on online platforms such as Qoo10 and Lazada, giving them a strong presence in the region

Achieva Technology Group

The Group’s 100%-owned subsidiary: Swift-Value Business Pte. Ltd.

Major suppliers include Hewlett-Packard (HP), Epson and Canon products and also the authorized reseller of products from major brands such as Fuji Xerox, Samsung and Panasonic

Swift-Value is the largest HP printer supplies distributor, having captured over 45% of the Singapore market. They keep their top spot by maintaining close relationships with hundreds of customers, ranging from heartland operators to large retail superstores such as Popular

Providing fast and value-added service and having the ability to retain customer loyalties help Swift-Value offers an extensive and consistent network for their suppliers and partner brands

In 2020, Swift-Value has also partnered with Ultimaker, one of the leading 3D-Printer brands operating out of the Netherlands to serve as their official logistics service provider in the Asia Pacific region and provide logistics distribution to partners and resellers in countries including but not limited to Singapore, Australia, China and Indonesia

Swift-Value Business Pte. Ltd.

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Started in 2014, Singapore-based Print-IQ is 91.43% owned by Serial System Provides managed print services and maintains and distributes copiers and printers Premier partner for HP copiers Partner for top Netherlands-based 3D printer brand, Ultimaker Asia-wide partner for Germany-based BASF to distribute 3D printing filaments

Consumer Products DistributionManaged Print Services and 3D Printing

Print-IQ Singapore Pte. Ltd.

Set up in 2008, PT SMI is 20% owned by Serial System since November 2018 Listed on Development Board of Indonesia Stock Exchange

PT Sentral Mitra Informatika Tbk

Under the managed print services business model, companies outsource their printing,scanning and copying functions, as well as the management of the equipment, to external service providers like Print-IQ and PT SMI. This reduces their operating costs and wastage.

Set up in 2019, Print-IQ Thailand is 49% owned by Serial System since December 2019 Supplies Lexmark printers and toners and provides managed print services for their

customers

Print IQ Co., Ltd

Core businesses: Hospitality and Healthcare solutions

Hospitality solutions: Build based on a core venue management application suite known as Venue360

Leading edge modules within Venue360: Electronic meal ordering system (eMOS), Intelligence RoomInfotainment Solution, Digital Media Content Management System, and Incident Tracking and Reporting System

Clients: Khoo Teck Puat Hospital, Ng Teng Fong General Hospital, Jurong Community Hospital, Changi GeneralHospital, Institute of Mental Health, St Andrew’s Hospital, Gleneagles Hospital, Mount Elizabeth Orchard,Parkway East Hospital, Parkway Mount Elizabeth Novena, Yishun Community Hospital, Sengkang Hospital,Sengkang Community Hospital, Alexandra Integrated Health, Bright Vision Community Hospital, Ang Mo KioThye Hwa Kwan Hospital and the new Woodlands Health Campus

0ther BusinessesSerial MultiVision Pte. Ltd. (100%-stake)

Assembly and distribution of medical devices

Offers full range of standard and customised perfusion tubingpacks marketed over the Asia-Pacific region: Perfusion Tubing ECMO Tubing Pack Angio Pack Procedural Pack

ISO 13485-certified and its perfusion products bear the coveted CE certification mark.

Contract Sterilization Services Pte Ltd (100%-stake)

The presentation herein may contain forward-looking statements by the management of Serial System Ltd (“Serial System”) that pertain to expectations for financial performance of future periods versus past periods.

Forward–looking statements involve certain risks and uncertainties because they relate to future events. Actual results may varymaterially from those targeted, expected or projected due to several factors. Such factors are, among others, general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures as well as changes in tax regimes and regulatory developments. Such statements are not and should not be construed as management’s representation on the future performance of Serial System. Therefore, the actual performance of Serial System may differ significantly from expressions provided herein.

This presentation does not constitute an invitation or an offer to sell, or solicitation of an offer to buy any securities in connection with, any contract or commitment whatsoever.

This presentation has been prepared exclusively for the parties presently being invited for the purposes of discussion. Information contained in this presentation does not constitute a prospectus or offering circular in whole or in part.

Thank YouMedia and Investor Contact:

WeR1 Consultants Pte Ltd1 Raffles Place #02-01 One Raffles Place Mall Suite 332Singapore 048616Tel: (65) 6721 7161Isaac Tang, serialsystem@wer1.net

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