FY2023
abcdefghijklmnopqrst
uvwxyz Results
Financial

17LIVE Group Limited
2021.09.10
brand28
February,& marketing
2024
17LIVE Japan inc.

Disclaimer

The information contained in this presentation has not been independently verified. The Company assumes no responsibility or liability
whatsoever (in negligence or otherwise) for, the accuracy or completeness of, or any errors or omissions in, any information or opinions
contained herein nor for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation orits contents or otherwise arising in connection with this presentation. It is not the intention to provide, and you may not rely on this presentation
as providing a fair, accurate, complete or comprehensive analysis of all material information concerning the Company, or the Company's
financial or trading position or prospects. The information and opinions contained in this presentation are provided as at the date of thispresentation and are subject to change without notice.

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This presentation contains projections and forward-looking statements that reflect the Company's current views with respect to future events
uvwxyzand financial performance. These views are based on estimates and current assumptions which are subject to business, economic andcompetitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside thecontrol of the Company and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are basedon the current view of the management of the Company on future events. No assurance can be given that future events will occur, thatprojections will be achieved, or that the Company's assumptions are correct.

2021.09.10
brand & marketing
17LIVE Japan inc.

FY2023 Group Financials
Key Takeaways(in US$’000)

FY2023
ActualShare-based
payment

De-SPAC

Revaluation

FY2023Adjusted

FY2022
ActualFY2022Adjusted

Variance%Variance

Operating revenue

278,927000

278,927

363,718

363,718(84,791)-23.3%

Operating income

13,7501,609

00

15,35910,124

10,964

4,395

40.1%

EBITDA

18,3691,609

00

19,97815,016(247,915)

1,609

11,609245,681

10,984(51,017)

5,683

5,301

93.3%

Net income

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15,8564,122
26.0%
uvwxyz

35.8% increase in operating income of US$13.7 million as compared to US$10.1 million in FY2022• Attributable to effective cost discipline and economies of scale• Heightened focus on returns on investment
26% increase in adjusted EBITDA to US$20.0 million
Impacted by increased operating income•

2021.09.10
Cash and Cash equivalents at US$102.7 million with no outstanding borrowings brand & marketing• Healthy balance sheet
17LIVE Japan inc.
• Improved liquidity to execute on growth drivers

abcdefghijklmnopqrst
Joseph Phua
Executive Chairman andChief Executive Officer
uvwxyz2021.09.10
brand & marketing
17LIVE Japan inc.

Growth drivers: Geographic expansion leveraging
leadership position in Taiwan and JapanUSA

abcdefghijklmnopqrst
uvwxyzHong Kong

ThailandPhilippines
Live streaming market size in Southeast Asia
(By total revenue, US$mn)

Malaysia+19.2%
2023-27F
CAGR

Singapore
Indonesia

Core markets

2,161

1,072

Other growth markets

2021.09.10
brand & marketing
17LIVE Japan inc.
2023F

2027F

With cash injection through SGX listing and positive operational cash-flow,
17LIVE is well capitalized to execute various growth initiatives●

Cultivate Quality Talent: Acquire talent agencies to retain
high-potential streamers & V-Livers, fostering a robustecosystem.

●

Boost User Engagement: Localized content, diverse events,
seamless interaction for deeper connection●Expand Product Offerings: Grow proprietary V-Liver idolgroups and expand business model into PGC content, livecommerce, merchandise sales.

●

Invest in Technology: Continuously upgrade infrastructure,leverage AIGC/AR for personalization, develop innovative
streaming tools●Go Global: Leverage regional expertise, enter high-growthmarkets in Southeast Asia with strategic partnerships & M&A.

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uvwxyz2021.09.10
brand & marketing
17LIVE Japan inc.

6

1Quality & diversity

2Proven3

Engaged eco-system

4Growing

5

Profitable

Discover, nurture, and promote high quality streamers anddiversified streamer content

Leader in live streaming platform in Japan and Taiwan combined2
With expansion plans in Southeast Asia and USA~93 minAvg. Daily View Duration Per DAU

V-Livers

GamesNew businessinitiatives that contributes
to profitability growthabcdefghijklmnopqrst
Online + offline
uvwxyzImmersive experience

Live commerce

Tech-enabled

Adjusted EBITDA positivesince 20202021.09.10
brand & marketing
17LIVE Japan inc.

abcdefghijklmnopqrst
Jing Shen Ng
Chief Technology Officeruvwxyz

2021.09.10
brand & marketing
17LIVE Japan inc.

Self-reinforcing ecosystem to create unique value

V-LiverLive streaming

Users
In-appGames

Streamers
Live
Commerce

Confidential IMultiple monetisation strategies
Buy virtualpoints

Users

Send gifts
to show
appreciation

Buygoods

Purchase in-gamevirtual items

Livestreaming(gifting)

LiveCommerce

Gamesabcdefghijklmnopqrst
Streamers / V-Livers
uvwxyzRevenueshare

Revenueshare2021.09.10
brand & marketing
17LIVE Japan inc.

Diversified growth drivers: Large and growing total
addressable market
Rapidly growing total addressable market1
Live commerce
US$6.1bn (2027F)+ 22.7% (2023-2027F) - Taiwan+ 43.6% (2023-2027F) - Japan

Key drivers of media &entertainment industry
Increasing digital natives

V-Liver
US$3.9bn (2027F)+ 41.2% (2023-2027F) - Japan

Rise of digital media platforms
leading to a positive viewing
experience with technology
Increasing awareness globallytowards the Asia market

Live streaming
US$7.8bn (2027F)+ 11.2% (2023-2027F) - Taiwan+ 22.0% (2023-2027F) - Japan+ 19.2% (2023-2027F) - SEA

Emergence of popular artists
using social media platforms

Live streaming and gaming
industry – major growth driversof media and entertainment

Source: Frost & Sullivan analysis.
(1)
Total addressable market for Live commerce relates to Japan and Taiwan, V-Liver relates to Japan, and Live streaming relates to Japan, Taiwan andSoutheast Asia (including Indonesia, Malaysia, Singapore, Philippines and Thailand).

Confidential I 13Diversified growth drivers: V-Liver21

Organic V-Livers

V-Liver opportunity~2k

V-LiverMASJapan(By total revenue, US$mn)

3,865

Murayuki
Self-grown organic V-Liver since Nov 2018+41.2%
2023-27F
CAGR

3Proprietary V-Liver IPs

973

2023F

Strong growth
momentum in
V-Liver business1
Rapidly growing
V-Liver community
6.5x

YoY
increase

Expanding
17LIVE fan community~75k

V-LiverMAU

2.1x

YoY
increase

Rapid growth of
V-Liver engagement

2027F

BUSHILIVE
5 proprietary V-Liver IPs introduced in Jul 2023

Source: Company information, Frost & Sullivan analysis.
(1)
Average MAS, MAU, and monthly spenders for 2Q 2023. Increase indicates YoY increase compared with 2Q 2022.

~30kV-Liverspenders

2.7x

YoYincrease

Confidential I

12Profitable, and proven ability to monetize the highquality user base
Proven business model

Strong user engagement

Strong Growth Drivers

US$278.9mn~93 min+60%

2023 Revenue

Avg. Daily View Duration Per DAU2

2023 V-Liver Revenue

US$20.0mn

Spenders

7.1x

2023Adjusted EBITDA1

(1)
(2)

16.1%of MAU2

EBITDA is defined as operating income before depreciation and Adjusted EBITDA as EBITDA net of share-based payment and amortisation.
Average for 1H FY2023.

Japan V-Liver MAS(Dec 2022 vs Dec 2023)

Confidential Iabcdefghijklmnopqrst
Kenta Masuda
Chief Financial Officer uvwxyz

2021.09.10
brand & marketing
17LIVE Japan inc.

Achieved higher adjusted operating income, EBITDA, and net income
with enhanced profitability
Adjusted operating income (*1)(in USD million, % of revenue)

Adjusted EBITDA (*2)(in USD million, % of revenue)+26%

Adjusted net income (*3)(in USD million, % of revenue)

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uvwxyz+40%+93%

Margin%:

3.0%

5.5%

Margin%:

4.4%

7.2%

Margin%:1.6%

2021.09.10
brand & marketing
17LIVE Japan inc.

3.9%(*1) Adjusted operating income = Operating income + Share-based payment(*2) Adjusted EBITDA = Operating income + Depreciation & Amortisation + Share-based payment(*3) Adjusted net income = Profit/loss for the year + Share-based payment + De-SPAC related expense ± Revaluation gain/loss on financial liabilities

SGX listing significantly enhanced health of balance sheet. Improved
liquidity position allows critical navigation in rapidly evolving market
Cash and cash equivalents(in USD million)

Current assets(in USD million)

1.8x
2.6x

Current liability(in USD million)

abcdefghijklmnopqrst-75%
uvwxyz2021.09.10
brand & marketing
17LIVE Japan inc.

Improving margins across all segments, driven by new businesses such as
OrderPally, 17LIVE’s live commerce service
Livestreaming segment profit margin

Others segment profit margin (*)

12.1%
7.3%

10.3%

2022

2022

2023

*Others include live-commerce (OrderPally, HandsUp), Wave.

-14.5%

2023

abcdefghijklmnopqrst
Questions and Answers
uvwxyz2021.09.10
brand & marketing
17LIVE Japan inc.

Thank you

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uvwxyz2021.09.10& marketing
DBS Bank Ltd. acted as the solebrandissue manager
for the business combination ofVertex Technology Acquisition CorporationLtdwith
17LIVE Japan17LIVEinc. Inc.