Press Release: Yoma Fleet To Expand Vehicle Leasing Business With Tokyo Century Partnership

PRESS RELEASE

Yoma Fleet to Expand Vehicle Leasing Business

with Tokyo Century Partnership

•Tokyo Century to take a 20 per cent stake in Yoma Fleet for US$ 26.6 million

•New capital and additional expertise to drive expansion of Yoma Fleet's vehicle leasing business

Yangon, Myanmar, 22 April 2019 - Yoma Strategic Holdings Ltd. ("Yoma Strategic" or collectively with its subsidiaries, the "Group") today announced the formation of a strategic partnership with Tokyo Century Corporation ("Tokyo Century"), one of the Japan's largest leasing companies. Tokyo Century will acquire a 20 per cent stake for US$26.6 million in Yoma Fleet, a subsidiary of Yoma Strategic, by way of newly issued shares.

The additional capital and expertise provided by Tokyo Century will enable Yoma Fleet to rapidly expand its vehicle leasing business in Myanmar. Upon the satisfaction of certain conditions to complete the subscription of new shares by Tokyo Century, Yoma Strategic will become an 80 per cent shareholder in Yoma Fleet.

Founded in 1969, Tokyo Century provides leasing, instalment sales and other financial services across 37 countries and regions. Listed on the Tokyo Stock Exchange, Tokyo Century has a market capitalisation of approximately US$ 4.9 billion and total assets of US$ 35.9 billion1.

Mr. Melvyn Pun, CEO, Yoma Strategic stated, "We warmly welcome Tokyo Century as our partner in Yoma Fleet. Their international expertise in non-bank financial services, in particular auto leasing, will be invaluable as we work together to expand Yoma Fleet's business. Given Myanmar's low vehicle penetration, we believe there is significant growth ahead for Yoma Fleet in automotive and heavy equipment leasing. The partnership will also explore other non-bank financial opportunities to better serve this huge, underserved market in Myanmar."

Mr. Yasushi Yoshino, Senior Managing Executive Officer, Tokyo Century said, "I am very happy to announce our entry into the high potential Myanmar market with Yoma Strategic, the best partner in Myanmar. We will contribute to the further development of Myanmar's fast-growingautomotive market through the know-howand knowledge of auto leasing that Tokyo Century has cultivated in Japan and Southeast Asian countries."

Yoma Fleet was established in early 2014 as a vehicle rental and contract hire operator providing operating lease and rental solutions predominantly to multi-national companies. In 2018, Yoma Fleet added additional product solutions for SME and retail customers and launched Yoma Car Share, a daily rental business, served by 16 branches and hubs across 11 cities. More recently, Yoma Fleet also commenced its partnership with MSP CAT2 , the exclusive distributor for Caterpillar branded machinery in Myanmar, to provide heavy equipment financing solutions for companies in the infrastructure, construction, mining and agricultural sectors. Yoma Fleet is now one of the largest vehicle lease and rental operators in Myanmar with over 1,100 vehicles and total assets under management of over US$40 million3. Yoma Fleet is targeting an asset size of more than US$200 million by FY2023.

1as at 31 December 2018 - www.tokyocentury.co.jp/en

2Myan Shwe Pyi Tractors Limited

3as of 31 March 2019 based on unaudited management accounts

"Yoma Fleet is part of our Yoma Financial Services business which aims to bridge the significant gap in credit in Myanmar. Despite impressive growth, traditional bank lending as a percentage of the economy is still relatively small. The economy is largely cash-based, and we see limited bank lending outside of the key cities. This creates opportunities for non-bank financial players to provide consumers and companies with a much-needed source of credit and we are keen to capitalise on this opportunity for Yoma Fleet in partnership with Tokyo Century", added Mr. Pun.

Mr. Yoshino also commented: "Our International Business has been actively promoting strategic alliances by partnering with local leading companies. We will also explore the possibility of further collaboration in other business areas of Yoma Strategic in the coming years."

About Yoma Strategic Holdings Ltd. (www.yomastrategic.com)

Listed on the Main Board of the Singapore Securities Exchange Trading Limited (SGX-ST), Yoma Strategic is a leading business corporation with a diversified portfolio of businesses in Real Estate, Consumer, Automotive & Heavy Equipment, Financial Services and Investments in Myanmar. Together with its Yoma Group partners, Yoma Strategic is taking a conglomerate approach to build a diversified portfolio of businesses in Myanmar. The Company was ranked in the top 5% of the Governance and Transparency Index 2018, ranked 26th out of top 100 largest Singapore companies in the ASEAN Corporate Governance Scorecard 2017 and won the Best Managed Board (Gold) Award at the Singapore Corporate Awards in 2016.

About Tokyo Century Corporation (www.tokyocentury.co.jp/en/)

Listed on the 1st Section of the Tokyo Stock Exchange (TSE), Tokyo Century is a highly specialized and unique financial services company that pioneers new business fields combining finance, services and business expertise, working alongside customers in pursuit of their growth and goals. Through its four core businesses (Equipment Leasing, Mobility & Fleet Management, Specialty Financing, and International Business), Tokyo Century offers an extensive range of products that include leasing and instalment sales, automobile and rental car services, and highly specialized financing in the fields of shipping, aviation, renewable energy, real estate and others. Tokyo Century also has an extensive overseas network operating in 37 countries and regions worldwide.

For enquiries, please contact:

Analyst contact:

Ms. Jane Kwa, Tel: [phone] or (95) 09 79311 3587 Email: [e-mail]

Yoma Group Media contact:

Ms. Sylvia Saw McKaige, Tel: [phone] Email: [e-mail]

Ms. Thiri Yee Mon, Tel: [phone] Email: [e-mail]

Mr. Joshua Hughes, Tel: [phone] Email: [e-mail]

For any queries, please contact Cogent Communications:

Mr. Gerald Woon, Tel: [phone], Mob: [phone] Email: [e-mail]

Ms. Candy Soh, Tel: [phone], Mob: [phone] Email: [e-mail]