First Quarter 2020 Results Presentation

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Disclaimer

The information in this presentation is provided to you by OneConnect Financial Technology Co., Ltd. (the “Company”) solely for informational purpose and does not constitute an offer to buy or sell or solicitation of

an offer to buy or sell, any securities of the Company in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or

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the registration requirement of the Securities Act. This presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and special considerations

involved with an investment in the securities of the Company.

This presentation does not constitute legal, regulatory, accounting or tax advice to you. This presentation does not constitute and should not be considered as any form of financial opinion or recommendation by the

Company or any other party.

Thus presentation contains “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act

of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “explore,” “confident” and similar statements.

Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of

which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ

materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s limited operating history in the technology-as-a-service for financial institutions industry; its

ability to achieve or sustain profitability; the tightening of laws, regulations or standards in the financial services industry; the Company’s ability to comply with the evolving regulatory requirements in the PRC and

other jurisdictions where it operates; its ability to maintain and enlarge the customer base or strengthen customer engagement; its ability to maintain its relationship with Ping An Group, which is its strategic partner,

most important customer and largest supplier; its ability to compete effectively to serve China’s financial institutions; the effectiveness of its technologies, its ability to maintain and improve technology infrastructure

and security measures; its ability to protect its intellectual property and proprietary rights; risks of defaults by borrowers under the loans for which the Company provided credit enhancement under its legacy credit

management business; its ability to maintain or expand relationship with its business partners and the failure of its partners to perform in accordance with expectations; its ability to protect or promote its brand and

reputation; its ability to timely implement and deploy its solutions; its ability to obtain additional capital when desired; disruptions in the financial markets and business and economic conditions; the Company’s ability

to pursue and achieve optimal results from acquisition or expansion opportunities; the duration of the Covid-19 outbreak and its potential impact on the Company’s business and financial performance; and

assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the SEC. The Company, its officers, advisors, or

representatives undertakes no obligation to update or revise these forward‐looking statements for events or circumstances that occur subsequent to the date of this presentation, except as required under law.

The unaudited consolidated financial information is prepared in accordance with International Financial Reporting Standards (IFRS). This presentation contains certain financial measures that are not recognized

under the IFRS. Non-IFRS measures are used in gross profit and gross margin, adjusted to exclude non-cash items, which consist of amortization of intangible assets recognized in cost of revenue, depreciation of

property and equipment recognized in cost of revenue, and share-based compensation expenses recognized in cost of revenue. The Company regularly reviews non-IFRS gross profit and non-IFRS gross profit

margin to assess the performance of its business. By excluding non-cash items, these financial metrics allow the Company to evaluate the cash conversion of one dollar revenue on gross profit. The Company uses

these non-IFRS financial to evaluate its ongoing operations and for internal planning and forecasting purposes. The Company believes that non-IFRS financial information, when taken collectively, is helpful to

investors because it provides consistency and comparability with past financial performance, facilitates period-to-period comparisons of results of operations, and assists in comparisons with other companies, many

of which use similar financial information. The Company also believes that presentation of the non-IFRS financial measures provides useful information to its investors regarding its results of operations because it

allows investors greater transparency to the information used by the Company in its financial and operational decision making so that investors can see through the eyes of the Company’s management regarding

important financial metrics that the management uses to run the business as well as allowing investors to better understand the Company’s performance. However, non-IFRS financial information is presented for

supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from similarly-titled non-IFRS measures used

by other companies. In light of the foregoing limitations, you should not consider non-IFRS financial measure in isolation from or as an alternative to the financial measure prepared in accordance with IFRS.

Whenever the Company uses a non-IFRS financial measure, a reconciliation is provided to the most closely applicable financial measure stated in accordance with IFRS. You are encouraged to review the related

IFRS financial measures and the reconciliation of these non-IFRS financial measures to their most directly comparable IFRS financial measures. For more information on non-IFRS financial measures, please see

the table captioned “Reconciliations of IFRS and non-IFRS results (Unaudited)” set forth at the end of this presentation.

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Highlights for the Quarter

Notes:

(1) Third-party customers refer to customers with revenue contribution of less than 5% of total. These customers are a key focus of the Company’s diversification strategy

(2) All numbers rounded

Revenue +30% YoY

Solid Growth Despite

Covid-19 Challenge

More Business Diversification

to Address New Needs

Strong Gain in

Third-party Customers(1)

Narrowing of Operating Loss

Revenue +50% YoY

Operation Support 15% to 28% of

revenue YoY103% to 77% YoY

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Three Months Ended March 31

(RMBm, except percentages and per share figures) 2019 2020 YoY%

Revenue 448 581 29.6%

Gross Profit 128 202 58.1%

Gross Margin 28.5% 34.8%

Non-IFRS Gross Margin (1) 49.4% 46.0%

Operating Loss -460 -445

Operating Margin -102.7% -76.7%

Net Loss to Shareholders -415 -415

Net Loss per Share (RMB) -0.44 -0.40

Key Financial Metrics

Note:

(1) Non-IFRS gross margin adjusted to exclude non-cash items including amortization of intangible assets recognized in the cost of revenue, depreciation of property and equipment recognized in the cost of revenue, and

share-based compensation expenses recognized in the cost of revenue. For more details on this non-IFRS financial measure, please see the table captioned “Reconciliation of IFRS and Non-IFRS Results (Unaudited)”

set forth at the end of this presentation.

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1Q2019 1Q2020

Revenue Growth Led by Third-party Customers

(RMBm)

Revenue by Customer Type

Note:

(1) Third-party customers refer to customers with revenue contribution of less than 5% of total. These customers are a key focus of the Company’s diversification strategy

+30%

448

581

1Q2019 1Q2020

1Q2019 1Q2020

1Q2019 1Q2020

Total Third-party Customers (1)

Ping An Group

Lufax

+50%

+11%

+30%

179

270

205 228

6483

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30% 27%

13% 14% 14%

41%37%

43%46%

39%

29%35%

44%40%

46%

2017 2018 2019 1Q2019 1Q2020

Rising Third-party Contribution Testament of Trust of Financial Institutions

Revenue Mix by Customer Type

Note:

(1) Third-party customers refer to customers with revenue contribution of less than 5% of total. These customers are a key focus of the Company’s diversification strategy

Third-party(1) Ping An Group Lufax

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1Q2019 1Q2020

Strong Increase in Operational Support Solutions

Revenue by Business Type

(RMBm)

+30%

448

581

Total Business Origination

Risk Management

Operation Support

Post-implementation

Support and Others

Implementation

1Q2019 1Q2020

1Q2019 1Q2020

1Q2019 1Q2020

1Q2019 1Q2020

1Q2019 1Q2020

+48%

94

139

-42%2514

+2%177 181

-5%86 82

+148%

66

164

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A More Diversified Mix to Address Customer Needs in Different Macro Scenarios

Revenue Mix by Business Type

9%

21%25% 21% 24%5%

3%3%

6% 2%

9%

22%

25%

15%

28%

15%

14%

19%

14%78%

39%33%

39%31%

2017 2018 2019 1Q2019 1Q2020

Business origination

Risk management

Operation support

Implementation

Post-implementation support and others

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Seasonal Dip in First Quarter Made Worse by Coronavirus

(RMBm)

Total Revenue

1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 3Q2019 4Q2019 1Q2020

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Temporary Slowdown in Some Transaction Activities

(RMB billion) (Thousand)

Retail Loan Served SME Loan ServedAuto Insurance

Fast Claim Usage

(RMB billion)

10.1

12.7

1Q2019 1Q2020

7.9

5.7

1Q2019 1Q2020

989 995

1Q2019 1Q2020

+26%

-28%

+0.7%

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Continuous Improvement in Margins

(RMBm)

Gross Profit

Gross Margin

25.7%26.9% 27.0%

29.0% 28.5%

29.4%

38.6%

33.6%34.8%

1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 3Q2019 4Q2019 1Q2020

6380

98

148128

154

226

260

202

1Q2018 2Q2018 3Q2018 4Q2018 1Q2019 2Q2019 3Q2019 4Q2019 1Q2020

58% YoY

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Further Strengthening of Operating Leverage

R&D Spending as % of Revenue

S&M Expenses as % of Revenue

G&A Expenses as % of Revenue

Operational Margin

R&D expenses Capitalization

-103%

-77%

1Q2019 1Q2020

25% 27%

1Q2019 1Q2020

31% 33%

1Q2019 1Q2020

60%41%

6%

5%

1Q2019 1Q2020

66%

46%

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Recap of 2020 Priorities

Boost Premium Relationship Optimize Product Mix

Maintain Cost ControlIncrease Transaction Volume

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Three Months Ended March 31

(RMBm, except percentages) 2019 2020

Gross Profit 128 202

Gross Margin 28.5% 34.8%

Non-IFRS Adjustment (1)

Amortization of Intangible Assets 93 64

Depreciation of Property and Equipment 0 1

Share-based Compensation 1 1

Non-IFRS Gross Profit 221 267

Non-IFRS Gross Margin 49.4% 46.0%

Appendix: Reconciliation of IFRS and Non-IFRS Results (Unaudited)

Note:

(1) Adjustment in cost of revenue