Rates of Return & Non-Performing Loan Rates

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Year of Disbursement ^①	Expected rate of returns		Non-performing Loan Rates
Year of Disbursement ^①	Lowest and Highest Rate (Per Annum)	Weighted Average (Per Annum) ^②	Loans which are past 30 days but less than 90 days ^③	Loans which are past 90 days ^④	Overall
2021	6.40% to 12.08%	8.98%	11.19%	0.00%	11.19%
2022	7.20% to 12.00%	9.27%	7.62%	30.01% ^⑤	37.63%
2023	12.00% to 12.00%	12.00%	0.00%	0.00%	0.00%

Actual returns may be lower than the expected rates of return, and historical rates of return may not reflect future rates of return.

Expected rates of return

Year of Disbursement ^①	Lowest and Highest Rate (Per Annum)	Weighted Average (Per Annum) ^②
2021	6.40% to 12.08%	8.98%
2022	7.20% to 12.00%	9.27%
2023	12.00% to 12.00%	12.00%

Actual returns may be lower than the expected rates of return, and historical rates of return may not reflect future rates of return.

Year of disbursement^①	Loans which are past 30 days but less than 90 days^③	Loans which are past 90 days^④	Overall
2021	11.19%	0.00%	11.19%
2022	7.62%	30.01% ^⑤	37.63%
2023	0.00%	0.00%	0.00%

Actual returns may be lower than the expected rates of return, and historical rates of return may not reflect future rates of return.

Notes:

Smartfunding Pte Ltd transitioned from invoice financing business to securities based crowdfunding financing business in 2018, and no loan was disbursed for the securities based crowdfunding financing business in 2020.
Calculated based on: expected interest less commission fee charged by Smartfunding, divided by the loan amount disbursed, weighted and annualized for loans disbursed during the calendar year.
Calculated based on: principal and interest due and unpaid for 30 days or more but less than 90 days as at 31 December of the calendar year, divided by the total outstanding principal and interest as at 31 December of the calendar year.
Calculated based on: principal and interest due and unpaid for 90 days or more as at 31 December of the calendar year, divided by the total outstanding principal and interest as at 31 December of the calendar year.
Of which 1.68% were subsequently recovered from borrowers