NICEHoldingsInvestorsRelations 2020 3Q ENG

NICE Holdings
Investors Relations Book

/ 3Q 2020 /
Disclaimer
This material is prepared for your conveniences and all predictive information such
as forecasted figures contained in this material are solely based on internal forecast
and environments study. Therefore, please be aware that the contents in this
material are subject to further changes due to any unexpected changes in economic
environments or business conditions at any time.
This material is prepared as the reference material for your investment decisions.
NICE Holdings shall not offer any assurance and assume any responsibilities
whatsoever with regard to the contents in this material.
NICE Holdings expects that all investment decisions should be made by independent
and unprejudiced rationale of each wise investor.
I. Overview
II. Investment Points
III. Business Introduction
IV. Financial Performance

I-1. Group Overview
Since 1986, NICE Group has maintained the solid business performance
as Market Leader in Financial Infra Service Industry.
Overview
Overview of
of NICE
NICE Group
Group
▶Fact Sheet of NICE Holdings ▶Revenue and Operating Profit(FY’10 ~ FY‘ 19)
CEO • Mr. Hyun-Seok Lee (Unit: Billion KRW)
2,000 160
Listed Date • February 4, 2004 (KOSPI Listed)
Paid-In Capital • 18.9 Billion KRW (37,882,300 shares)

1,600
120
Market Cap • 734.9 Billion KRW (16th Nov 2020 ; @19,400 KRW)
Revenue Stream • Dividend, SI Service, Brand Commission, etc. 1,200
80
Major Shareholders • Largest Shareholder (48.0%), Dalal Street, LLC (8.7%),

Foreign Investors (22.8%), Others (20.5%) 800
40
400
• VAN Biz: M/S 31% (0.7 Mil. Membership Merchants)
Core Business • Consumer CB: M/S 70% DB for 45 Mil. Population)
(#1 M/S, • Corporate CB: M/S 52% (DB for 2.3 Mil. Biz Entities)
respectively) • Credit Rating: M/S 33% (The only local CRA) 0 0
•
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
ATM Mgmt.: M/S 55% (Bank ATM Mgmt at 6,000 sites)
Revenue OP
2020 NICE Holdings Investors Relations Book 4 Copyright ⓒ. By NICE Holdings. All rights reserved
I-2. Business Structure
NICE Group consists of 3 business divisions

including Data Business, Payment Business and Manufacturing Business.
Business
Business Structure
Structure of
of NICE
NICE Group
Group
Data Business: Strengthened Competitiveness through Big Data Biz

•• CORR.
CORR. BU:
BU: NICE
NICE Info
Info Service,
Service, NICE
NICE Investor’s
Investor’s Service,
Service, NICE
NICE D&B
D&B
•• Positioning:
Positioning: Dominant
Dominant market
market leader
leader && Prepares
Prepares for
for another
another win
win in
in big
big data
data business
business
Data •• Rev.
Rev. Streams:
Streams: Database
Database SVC,
SVC, Big
Big Data
Data SVC,
SVC, Credit
Credit Rating,
Rating, TCB
TCB (Tech
(Tech CB),
CB), Asset
Asset Mgmt.
Mgmt.
Business •• Benchmarks:
Benchmarks: Equifax,
Equifax, Experian,
Experian, Moody’s,
Moody’s, S&P,
S&P, Mint,
Mint, etc.
etc.
Sustainable Growth Business

Synergy Payment Business: Expanding Market Leadership to PG and Mobile Payment
•• CORR.
CORR. BU:
BU: NICE
NICE I&T,
I&T, KIS
KIS I&C,
I&C, NICE
NICE TCM,
TCM, NICE
NICE Payments,
Payments, JTNet
JTNet
•• Positioning:
Positioning: Expanding
Expanding scopes
scopes to
to PG
PG and
and Mobile
Mobile VAN
VAN based
based on
on market
market leadership
leadership
•• Rev.
Rev. Streams:
Streams: Credit
Credit Card
Card Processing
Processing (VAN),
(VAN), PG,
PG, FinTech,
FinTech, ISO/MSP,
ISO/MSP, ATM
ATM Mgmt.
Mgmt.
Mfg. Payment •• Benchmarks:
Benchmarks: First
First Data,
Data, Cardtronics,
Cardtronics, PayPal,
PayPal, etc.
etc.
Business Business
Mfg. Business: Growth Potential based on Distinguished Technologies
Differentiated •• CORR.
CORR. BU:
BU: ITM
ITM Semiconductor,
Semiconductor, NICE
NICE LMS
LMS
Technologies •• Positioning:
Positioning: Incubating
Incubating distinguished
distinguished technologies
technologies for
for securing
securing future
future growth
growth engine
engine
•• Rev.
Rev. Streams:
Streams: Sales
Sales of
of Products
Products (POC,
(POC, PMP,
PMP, Al/Mg
Al/Mg Material,
Material, etc.)
etc.)
I-3. Biz Performance Overview
NICE Group has achieved the solid business performance

as each business division has shown noticeable growth in revenue and operating profit.
Trend
Trend of
of Biz
Biz Performance
Performance (2015-19)
(2015-19)
▶Revenue ▶Operating Profit

(Unit: Billion KRW) (Unit: Billion KRW)
Equity Method Data. Biz Payment Mgf. Biz Equity Method Data. Biz Payment Mgf. Biz
1,878 180 %
1,950 14.0 154
.5 % R= 128
= 14 ar CAG
GR 160
5-Ye
1,750
Yea r CA 1,612 456.5 24.6
5- 123
140 127
1,550 1,450 4 61
1,346
427.3 120
1,350 91 47.5
401.7 51.2 57.7
1,091 384 100
1,150
36.6
995.4 80
950 375.3
72.5
60
750 950.1
729.7 829.1 83.9
40 83.2 79.5
550 64.9
618.8
350 20
31.8
496.2
150 0 3.1 4.3
270.6 237.5 252.7 -6.7 -5.5 -3.3
127.5 -12.6
-27.6
(50) -20
FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19
I-4. Governance Structure
NICE Holdings strategically deploys its subsidiaries

to corresponding business divisions in the most efficient fashion.
Governance
Governance Map
Map of
of NICE
NICE Group
Group (As
(As of
of end
end of
of September
September 2020)
2020)
Mr. Kim : Business Division

(Largest Shareholder) : Listed Subsidiary
47.97 : Unlisted Subsidiary
NICE Holdings
Data Business Payment Business Mfg. Business
42.99 100.00 34.97 42.70 91.00 35.80 32.33 49.77 97.66
NICE NICE ITM

NICE NICE KIS NICE NICE
Info Investor Semi- rePAPER
D&B I&T I&C TCM LMS
Service Service Conductor
100.00 76.82 66.00 100.00 95.70 72.38
NICE NICE NICE NICE

JTNet OKPOS
Genie Data P&I D&R Payments
I. Overview
III. Business Instruction

II-1. Low Share Price compared to Asset Value
PBR as of 16th November 2020 is 2.33, but adjusted PBR is 0.51 in which acquisition cost
is replaced with either stock price or net asset value.
Mkt.
Mkt. Cap
Cap of
of NICE
NICE Holdings
Holdings &
&
PBR
PBR adjusted
adjusted with
with Stock
Stock Valuation
Valuation Gain
Gain Stake Value of Listed Subsidiaries
Stake Value of Listed Subsidiaries
(Unit: 100 Million KRW)
End of End of End of 16th Nov 16,000
(Unit: 100 Million KRW) Since ITM Semiconductor’s listing in Nov 2019 ,
FY17 FY18 Fy19 ’20
the stake value of Listed Subsidiaries has
A. Market Cap 14,000 exceeded Mkt. cap of NICE Holdings
5,266 6,800 6,932 7,344
(Treasury Stock excluded) (169% on 16th Nov).
12,000
B. Net Asset (Separate F/S) 3,256 3,363 3,564 3,154
5,090
10,000
C. Adjustment 　　　　
G/L of Valuation of Securities 4,138 4,128 6,906 10,104 8,000

(Listed) (Note 1)
G/L of Valuation of Securities 850 1,176 1,325 1,022 6,000

(Not Listed) (Note 2)
4,000
D. Adjusted Net Asset (=B+C) 8,244 8,668 11,795 14,280
2,000
E. PBR(=A/B) 1.62x 2.02x 1.95x 2.33x
0
F Adjusted PBR(=A/D) 0.64x 0.78x 0.59x 0.51x 16/01/0817/02/1718/03/3018/10/2919/01/2219/04/18 19/7/12 19/10/8 20/01/0220/03/26 20/6/22 20/9/11
Mkt. Cap Share value of NICE Info SVS NICE INT

(Note 1) Stock Price at Base Date – BV (Acquisition Cost) of NICE Holdings 4 listed
(*) Sharecompanies
value of ITM Semiconductor includes shares held
(Note 2) Net Asset Value at Base Date – BV (Acquisition Cost) NICE TCM byITM
NICESemiconductor NICE
Infra, 100% Subsidiaries ofD&B
NICE Holdings.
II-2. Characteristics of Defensive Stocks
Stock of NICE Holdings have characteristics of Growth Stock and Defensives Stocks,
so investors can expect solid investment result either during recession or economic boom.
Strong
Strong PP
Increased Price
▶Characteristics of Defensive Stocks of NICE Holdings
Volatility
30,000 3 3,000
Financial Crisis Post- Financial
25,000 in 2008 Crisis of 2008 2,500
1 2
20,000 2,000
15,000 1,500
10,000 1,000
5,000 500
0 0
04/02/1305/03/1106/04/0707/05/0408/05/3009/06/2610/07/2311/08/1912/09/1413/10/1114/11/0715/12/0416/12/2918/02/0219/02/2820/03/20
NHC KOSPI
Periodic Classification KOSPI NHC β • Solid Stock Price Protection when market uncertainty increased (β <1)
08/04~09/06 Financial Crisis in 2008 -23.9% -10.7% 0.45 • Growth Engine (Core Business) accelerated stock performance during
11/05~-13/07 Post- Crisis in 2008 -10.7% +95.4% -8.92
up-phase periods.
• Less Stock Plasticity based on Solid Business Performance
17/08~18/12 Increased Market Uncertainty -13.6% +6.8% -0.50
 Better Stock Performance (especially during recession)
II-3. Gradual Increase of Propensity to Dividend
NICE Holdings plans to gradually augment Propensity to Dividend

based on stable profit structure and increased sources of dividend payment
Dividend
Dividend Payment
Payment &
& Propensity
Propensity to
to Dividend
Dividend (2017-2019)
(2017-2019)
▶Dividend Policy of NICE Holdings ▶Dividend Policy of 4 Listed Subsidiaries Combined

(Unit: Million KRW) (Unit: Million KRW)
70,000 35.00% 100,000 30.00%
90,000
60,000 30.00%
25.00%
80,000
50,000 25.00% 70,000
20.00%
40,000 20.00% 60,000
50,000 15.00%
30,000 15.00%
40,000
10.00%
20,000 10.00% 30,000
20,000
10,000 5.00% 5.00%
10,000
0 0.00% 0 0.00%
FY17 FY18 FY19 FY17 FY18 FY19
(Million KRW) FY17 FY18 FY19

NIS FY17 FY18 FY19 NIT FY17 FY18 FY19
Dividend 8,370 11,359 13,750 Dividend 3,325 3,946 4,312
DPS 130 180 230 Div. Rate 27.3% 29.7% 33.7% Div. Rate 9.1% 13.1% 14.6%
EPS 1,388 1,604 771 Propensity 1.6% 1.8% 1.6% Propensity 1.5% 2.1% 1.6%
Dividend Paid 4,610 6,819 8,713 DNB FY17 FY18 FY19 TCM FY17 FY18 FY18
Dividend 1,478 2,310 2,695 Dividend 2,862 3,366 3,366
Net Income 49,225 60,139 29,208
Div. Rate 23.0% 24.8% 23.9% Div. Rate 17.4% 27.2% 117.8%
Payout Ratio 9.4% 11.3% 29.8% Propensity 1.2% 2.1% 2.1% Propensity 0.9% 1.2% 1.4%
I. Overview
III. Business Instruction

III-1. Data Business
As a market leader in credit information business, NICE Info Services is

the Only Entity which provides the Full Service from Credit Bureau to Big Data.
Introduction
Introduction of
of NICE
NICE Data
Data Business
Business (NICE
(NICE Info
Info Service)
Service)
▶Strong Business Performance ▶Business Offering of NICE CB

(Unit: Billion KRW)
400 16.00%
Meeting Various Proactively Preparing
5-Year Rev. CAGR = 5.5%
5-Year OP CAGR = 15.1% Customers Needs for New Biz Oppty
350 14.00%
300 12.00%
250 10.00%
263.9
200 248.3 8.00%
230.5
221.6
224.5
150 6.00%
100 4.00% Company Cons CB Corp CB Big Data

NICE O O O
50 2.00% KCB O O
74.6 81.8
65.2 68.9
52.8
SCI O
0 0.00%
KED O
FY15 FY16 FY17 FY18 FY19
ECREDIBLE O
Corp CB Cons CB OPM
III-1. Data Business (continued)
Dominant market position in Consumer CB business

with the highest growth in Revenue (4.1%) and OPM (12.6%)
Market
Market Dominance
Dominance in
in Consumer
Consumer CB
CB
▶Market Share
SCI 5.9% Stable but Dominant Revenue Growth
(Unit: Billion KRW) → Dominant Market
300 263.9
248.3 Position
224.5 221.6 230.5
KCB 250
→ 5-Year CAGR: 4.1%
24.2% 200
150 → Gap with competitors
93.2
69.6 78.1 will be widened through
NICE 100
53.4 60.7 52.6
35.9 33.9 39.9 46.5 developing new biz
69.9% NICE 50
73.7% opportunities such as
0
FY15 FY16 FY17 FY18 FY19 big data analysis.
Steadfast and Highest OPM (>15% in FY19)

• Accumulated credit information of 45 million 25.0%
21.1%→ Maintained industry
economically active population 20.0% 18.0% high OPM
15.3% 15.5%
• Largest & Most reliable database in Korea 14.6% 14.0% 13.2%→ 5-Year CAGR: 12.6%
15.0%
11.7%
11.4%
• Highest level of data security 9.4% 10.1% → Highest profitability will
10.0% 7.3%
• The only business CB entity that owns and 5.1% be maintained by
3.8%
operates its own IDC (Internet Data Center) to 2.7%
5.0% delivering incomparable
secure the highest security standards service quality.
0.0%
Securing the market leading position in Corporation CB business with

the solid performance in Revenue (19.3%) and OPM (15.8%)
Leading
Leading Position
Position in
in Corporate
Corporate CB
CB
▶Market Share Stable Revenue Growth based on New Biz Development

(Unit: Billion KRW)
EC 200 → Proven expertise in DB
159.1
15.5% 160 management
126.7
111.2 → 5-Year CAGR: 19.3%
120 99.2
NICE 78.5 82.5
NICE 80 57.2 60.8 65.3 → Solid growth in revenue
54.3
(NICE
(NIS DNB)
& & DNB) 35.3 39.4 will be maintained
KED 22.8 29.2 32
52.0% 40 through continuous
32.5% 53.0%
0 value-added services.
Maintaining Stable OPM (5-year Avg. > 15%)

• Leading corporate information provider in 45.0% 39.3% 39.8% 41.2% 40.5%→ Maintained modest
37.5%
Korea with access to 2.3 million local 40.0% operating margin
corporate credit information 35.0%
30.0% → 5-Year Avg: 15.8%
• Implemented the business process of 25.0%
17.7% 17.5% 16.8% → Higher OPM of
‘Collecting → Analysis → Added Value’ for 20.0% 14.4%
12.8% 11.9% 11.1% ECREDIBLE is not
10.3%
15.0%
competitive advantages in Big Data Business 10.0%
7.6%
5.6% significant considering
• Industry-specialized Service (Public, Distribution, 5.0% its restricted biz scope
Finance, Credit Card, Mfg., etc.) 0.0% and small revenue size.
Business Expansion to Big Data and FinTech accelerated by

Government Policy of Deregulation on Information Utilization
New
New Biz
Biz Opportunities
Opportunities through
through Deregulation
Deregulation
Utilization of Big Data Strengthened Competitiveness of Institutionalization of

in Financial Sector Data Biz in Financial Sector Self Information Flow
• Clarification of legal basis for analysis and use • Vitalization of Credit Info Industry • Upgrade of Consent for Information Offering
of Big Data - Introduction of non-financial CB - Simplification of consent procedure
• Introduction of ‘My Data’ Industry - Phase-In Introduction of Opt-Out
• Strengthened Market Leadership of CB
- Promotion of Collective Asset Mgmt.
(Credit Bureau) SVC provider • Self-Determination Right of Personal Info
- Guarantee of interpellation and right of objection
• Advanced Personal Credit Evaluation based
- Right to Data Portability of Personal Credit Info
on Big Data analysis
▶Major Impacts by Deregulation

Implications
Increased Promotion of
Consulting on
Utilization of Digital
Non-Financial
Big Data
Financing
Government Regulation on
Analysis 1
Info (Ex: FinTech) Utilization of Information
Introduction of
Promotion of 2 Market Expansion
Self Credit
Specific CB
Mgmt. (Ex: MINT)
With the forecasted market size of approx. 1.9 billion USD,

NICE has prepared for securing the First Initiatives in the Big Data business.
Preparation
Preparation for
for Big
Big Data
Data Business
Business
▶Forecasted Mkt Size of Big Data Biz in Korea ▶NICE Offering on Big Data
As of 3Q 2020
(Unit: Billion KRW)
Data Stdzn. Data Convergence Digital Mkt. Support
= 10.9%
C A GR
5-Year
Current Convergence
Status Mkt. Analysis Mkt. Solution
(i.g. Finance & Dist’y)
(Market FCST Model
Maturity) Marketing Insight Campaign Platform
Machine Learning
Fin. Instrument
Customer Analysis Demand FCST
Matching Service
• Deregulation on Big Data Business (during 1Q of 2020)

Business
Environments • Accelerated Cross-Industry Convergence (competition level ↑)
• Digital Transformation*
Business
Strategy • #1 Consulting Agent for Convergence Big Data Business
• Digital Transformation Biz

Strategic • Mkt Analysis Platform, Genie Data i, Smart City Consulting
Projects • Consulting on Big Data Marketing SVC and Marketing Process
• Forecasted ‘Big Data’ market size is 1.9 Billion USD with growth
rate of 5-year CAGR 10.9%. Long-Term Strategy Direction
• Service segment will lead the growth with 16.6% per annum.
• Strong demands AI, personalized marketing and related services Convergence Big Data #1 Player
Note: Digital Transformation is the novel use of digital technology to solve traditional problems enabling
• More biz opportunities are expected with the gov’t deregulation inherently new types of innovation and creativity, rather than simply enhance and support traditional methods.
III-2. Payment Business
With the Complete Service Offering including Off-line, On-line and Mobile Payment,
NICE maintains the market leading position with the solid performance.
Introduction
Introduction of
of NICE
NICE Payment
Payment Business
Business (NICE
(NICE I&T)
I&T)
▶Strong Business Performance ▶Business Offering (VAN & PG Biz)

(Unit: Billion KRW) Terminal Mfg. &
500 50 Payment Service Sales & A/S Merchants
Solution Development
450 5-Year Rev. CAGR = 15.0% 45 NICE NICE

5-Year OP CAGR = 10.5% I&T Munos
Off-Line Payment Agent Service
400 40 POS Terminal Mfg.
Mediation
350 35 CAT, POS & S/W Dev NICE Full-Line SVC

Payments
Failure-Free
On-Line Payment Mbrp. Mgmt
300 30 Mediation
Automation Data Security
Solution
250 25
Full-Line Payment Platform (Full SCM Implementation)
200 20
▶Business Offering (Mobile Payment Biz)
150 15
One Point,
100 10 All Pay “PayPro”
Payment Request for
50 5 Payment
Approval
30,000 Franchises
- 0
FY14 FY15 FY16 FY17 FY18 FY19 Transaction Amount of
360 Mil USD (1HY of FY18)
VAN(off-line) PG(on-line) OP Settlement
III-2. Payment Business (continued)
Payment Environments in Korea including extensive use of credit cards and rapid growth
in e-Commerce business favors NICE Payment Business.
Favorable
Favorable Market
Market Condition
Condition for
for NICE
NICE Payment
Payment Business
Business
11 • 4th Largest Economy in Asia
Strong • Continued economy growth expected

Strong Growth
Growth of
of
National
National Economy &
Economy & • Local Payment Biz to continue to grow
Payment Business
Payment Business • O2O Mobile Payment and Income-driven
growth strategy by government
Favorite 22 • > 80% Population use credit card (1 st option)

Favorite
Market • Use credit cards as the primary method
MarketConditions
Conditions
for
for PaymentBiz
Payment Biz Extensive
Extensive Use
Use of
of • New pay methods to depend on the legacy
in Korea Credit Card Payment
Credit Card Payment system (VAN Infrastructure)
in Korea
• Extremely difficult and inefficient to build
new payment systems
33 • Move toward ‘cashless society’

• Need for the advanced payment system
Rapid
Rapid Growth
Growth in
in • Rapid growth of e-Commerce market
e-Commerce Biz
e-Commerce Biz
• Due to increasing O2O payment utilizing
FinTech (Mobile penetration: 91.9%)
NICE Payment Entities (NICE I&T, KIS I&C) occupies the Competitive and Distinguished
Market Positioning accelerating further growth in the future.
Competitive
Competitive Market
Market Positioning
Positioning of
of NICE
NICE Payment
Payment Business
Business
▶Distinguished Market Positioning in Payment Business
: VAN : PG : Mobile Payment

PaymentOffering
OfferingExtensibility
Extensibility
High
NICE I&T
• Definition: Degree of securing most optimized payment business
offering (whether an entity is able to provide various kinds of payment
The only entity
Payment Infra Extensibility
KG Co. equipped with both

methods including off-line, on-line and mobile payment business)
N Co. Service & Infra • Classification:
KIT Extensibility  High: full service line incl. VAN, PG and FinTech biz operations
 Medium: some of payment methods can not be provided
Med
S Co.  Low: single service line is provided and/or service quality is not reliable
KS Co.
L Payment
Co. KI PaymentInfra
InfraExtensibility
Extensibility
Co. • Definition: Degree of securing related business functions to maximize
S Co.
KM Co. efficiency of operation of payment business (whether an entity
Low
D Co.
establishes SCM such as manufacturing devices, providing POS solutions,
constructing nation-wide sales organizations, etc.)
• Classification:
Low Med High
 High: fully extensible incl. H/W (POS), S/W (Solution) and sales network
Payment Offering Extensibility
 Medium: some of functions are not internalized or outsourced
Note1: Sizes of bubbles are proportional to entities’ revenues but some are adjusted for visual representation.
Note2: This assessment was conducted based on interviews of SMEs (Subject Matter Experts).  Low: most functions need to be outsourced (high dependency on partners)
Note 3: Revenue of LG UPLUS is for the whole operation including payment business and others.
Combining favorable market conditions, competitive positioning and incomparable

service quality, NICE maintains the Largest Market Share in Payment Business.
NICE
NICE Business
Business Structure:
Structure: Payment
Payment Business
Business Division
Division
▶Development of # of Credit Card Approval ▶Market Share based on Increased Customer Base
(Unit:# of Transaction)
7,000
4 .8 %
6,000
R1
CAG
5,000
6.431
4,000 3,550
3,118
2,456
3,000
1,956
2,000
• Maintains the leading market share
Others NICE in regulated and highly-segmented
1,000 26.3% (I&T & I&C) business
30.8%
• Expanded business association with
-
credit card , ICT, distribution,
KICC manufacturing, etc. (better MOT)
KDKL 6.7% 13.6%
NICE A Com B Com C Com D Com KSNET • Extended contact points with agents
Note 1: # of NICE Transaction is combined numbers for NICE I&T and KIS I&C. 10.4% based on diversified service & service
Note 2: Gap in # transaction is difference between NICE transactions and average SMARTRO 12.2% improvement
transactions of competitors.
Due to dependency of NICE Payment Infra, number of Online & Mobile Transaction
has dramatically increased as more competitors have entered into the market.
NICE
NICE Business
Business Structure:
Structure: Payment
Payment Business
Business Division
Division
▶NICE Payment Infra for all Payment Services ▶Rapid Growth of Online/Mobile Biz
(Unit: # of Transactions in Million)

300
250
200 9.0%
GR7
a r CA
5-ye
150
100
50
0
FY13 FY14 FY15 FY16 FY17 FY18
• As more payment players enter into the market, # of Online &

Mobile payment transactions has significantly increased.
• Annual growth rate of # of Online Transactions (‘13~’18): 65.8%
• Most Payment Services including Samsung Pay, KAKAO Pay, • Annual growth rate of # of Mobile Transactions (‘13~’18): 469.0%
Coupang, SSG, ALIPAY, WeChat pay use NICE Payment Infra.
• Transaction portion of Mobile & Online in FY18: 8.6%
• Zero Pay (promoted by Seoul Muni. Gov’t) also use NICE Payment
Infra. FY13 FY14 FY15 FY16 FY17 FY18
• Leading Mobile Payment Business by leading a role in Developing
1.0% 1.0% 1.9% 2.6% 4.5% 8.6%
and Providing Shared App Card Module.
III-3. Manufacturing Business
Driving Growth & Securing Sustainability

by Future-oriented & Trend-oriented Business Portfolio
Future-Oriented
Future-Oriented Business
Business Portfolio
Portfolio of
of Mfg.
Mfg. Division
Division
▶Development of NICE Manufacturing Biz

2009 2010 2012 2013 2014 2015 2016 2017
IT Battery Pack Component, IoT Sensor Module,

EV BMU (Battery Management Unit)
Aluminum Structural Parts,

Light Nonferrous Metal Battery Case for EV
Beauty/Health/
Eco-Friendly
Beauty Solution #1 Cosmetics Biodegradation
(Beauty Device) Information Mobile Eco-Friendly Coating Paper
Platform
• Sustainability for differentiated technologies, market dominance and long-term growth
- ITM Semiconductor (Global M/S #1 in Battery Protection IC),
NICE LMS (Light Non-ferrous Metal [Patented Al & Mg] Manufacturer specialized for EV, Birdview (#1 Cosmetic Information Mobile
platform, ‘HwaHae’), rePAPER(Eco-friendly paper coating material)
• Driving Themes: Electrification, Eco-friendly, Weight-lighting, Well-being
- (Growth) Driving Future-oriented & Trend-oriented business portfolio instead of conventional horizontal/vertical biz integrations
- (Sustainability) Composition of business tolerant to market changes and easy to horizontal expansion
III-3. Manufacturing Business (continued)
Core competence including small size, low cost and high reliability,
makes ITM Semiconductor #1 Suppliers in the global BMU component market.
Introduction
Introduction of
of ITM
ITM Semiconductor
Semiconductor
▶Key Products (Global #1 Manufacturer for the component) ▶Dominant M/S in BMU(Battery Mgmt Unit) of Mobile Handset
• M/S in Domestic Handset Makers (Market Dominance)
POC
POC(Protection
(ProtectionOne
OneChip)
Chip) FY20(F)
FY19(F)
• POC is two in one solution which FY18
combine Protection IC and FY17

MOSFET as a one package for
FY16
Li-Ion and Li-Polymer battery.
73% 78% 83% 88% 93%
• ITM has the largest M/S in the • M/S in Handset Makers in North America (Rapid Expansion)
global market. FY20(F)
FY19(F)
PMP
PMP(Protection
(ProtectionModule
ModulePackage)
Package)
FY18
• PMP is an innovative protection 0% 5% 10% 15% 20% 25% 30% 35%

module for Li-Ion and Li-Polymer • M/S in Handset Makers in China (Gradual & Steady Approach)
battery replacing traditional PCM FY20(F)
• ITM is the only product of this FY19(F)

PMP
component. FY18
• Reduced component size allows more FY17
flexibility in functions & design.
FY16
(50%↓ in size)
0% 1% 2% 3% 4% 5% 6% 7% 8%
III-3. Manufacturing Business (continued)
With the accumulated expertise in automotive aluminum parts, NICE LMS will expand into
automotive parts and battery case for EV with targeted revenue above 200 Billion KRW in 2023
Introduction
Introduction of
of NICE
NICE LMS
LMS (Light
(Light Metal
Metal Solution)
Solution)
▶Key Products (Automotive parts and Battery case for EV ) ▶Strategy of Business Expansion to EV Battery Parts
4 • Investment of 55 Billion KRW to expand large-scale
Automotive
AutomotiveParts
Parts production capacity by FY ‘20(43.6 Billion KRW
Action Plans completed during FY ‘18~ ‘19)
• Success in mass-producing high-power • Following the battery module product, Promotion of
aluminum bumpers, for the first time in orders for battery pack structure
Korea 
Know-how for production of 3 • Forward demand market expected to grow at an
aluminum extrusion parts needed to annual average rate of 20~30%
make cars lighter Business • Three major customers leading the global battery
• Ability to develop eco-friendly Al & Mg Forecast market(SDI, LG Chem, SK Innovation)
Materials • Expected project order balance exceeding 460 Billion
KRW(as of Mar. FY ‘20)
Battery
BatteryCase
Casefor
forEV
EV 2 • Accumulated Knowhow in Process Optimization
• Cost Competitiveness (Integrated Production Line in
Differentiated
• Integrated Production Line (Casting  Vietnam)
Points
CNC/Press  Surface Treatment)  Cost • High-end facilities overwhelming competitors
competitive advantage • Excellent Quality Management
• Manufacturing Expertise through market
preoccupation  In an ongoing effort 1 • Supplier Registration completed (SDI, LG Chem,
to improve yields, deepening the Current SK Innovation in process)
competitive gap with latecomers Preparation • Preject order balance in progress of mass production
exceeding 250 Billion KRW(as of end of FY ‘19)
I. Overview
III. Business Introduction

IV-1. Performance (Classified by BU_FY ’20.3Q & ’19.3Q)
2020.3Q 2019.3Q
(Unit: Billion KRW) Name of Subsidiary Operating Operating Operating Operating
Revenue Revenue
Expenses Profit Expenses Profit
1) Credit Card VAN NICE I&T, KIS I&C, NICE Payments, JTNet 594.2 (553.9) 40.3 535.8 (497.1) 38.7
2) Corporation/Individual CB NICE Info Service 293.6 (246.3) 47.3 265.4 (224.9) 40.5
3) CD/ATM NICE TCM, NICE CMS 196.2 (182.5) 13.7 200.3 (183.5) 16.8
4) Credit Rating NICE Investors’ Service 34.2 (22.5) 11.7 30.4 (21.7) 8.7
5) Collecting Service NICE Credit Service 48.3 (46.5) 1.8 50.3 (48.6) 1.7
6) Manufacturing NICE LMS, ITM Semiconductor , etc. 356.1 (349.9) 6.2 413.2 (399.4) 13.8
Equity method (NICE D&B, Magnum PEF, etc.),

7) Equity method
NICE Infra, etc. 6.7 - 6.7 (1.1) - (1.1)
8) Others
　 52.5 (53.5) (1.0) 43.7 (47.3) (3.6)
9) Discounted Operations (1.7) 1.5 (0.2) (87.5) 101.8 14.3
　
10) Removal of inter-subsidiary
income (71.8) 73.1 1.3 (78.4) 77.7 (0.7)
Sub Total 1,508.3 (1,380.5) 127.8 1,372.1 (1,243.0) 129.1
Net Finance Income (6.1) (7.7)
Other Non-Operating Income (28.7) 20.4
Income from Continuing Operations before Taxes 1,508.3 (1,380.5) 93.0 1,372.1 (1,243.0) 141.8
IV-1. Performance (Classified by BU_FY ‘19 & ‘18)
FY ‘19 FY ‘18
(Unit: Billion KRW) Name of Subsidiary Operating Operating Operating Operating
Revenue Revenue
Expenses Profit Expenses Profit
1) Credit Card VAN NICE I&T, KIS I&C, NICE Payments 723.5 (673.7) 49.8 697.5 (642.9) 54.6
2) Corporation/Individual CB NICE Info Service 350.7 (301.4) 49.3 327.8 (281.2) 46.6
3) CD/ATM NICE TCM, NICE CMS 271.9 (249.2) 22.7 252.7 (227.7) 25.0
4) Credit Rating NICE Investors’ Service 38.9 (28.9) 10.0 37.2 (28.1) 9.1
5) Collecting Service NICE Credit Service 67.0 (65.3) 1.7 62.3 (60.3) 2.0
6) Manufacturing NICE LMS, BBS, etc. 605.0 (593.4) 11.6 252.7 (280.4) (27.7)
Equity method (NICE D&B, Magnum PEF, etc.),

7) Equity method
NICE Infra, etc. (3.2) - (3.2) 24.6 - 24.6
8) Others
　 60.2 (67.9) (7.7) 57.9 (56.0) 1.9
9) Discounted Operations (108.8) 129.0 20.2 (122.0) 147.0 25.0
　
10) Removal of inter-subsidiary
income (127.4) 127.2 (0.2) (120.4) 113.9 (6.5)
Sub Total 1,877.8 (1,723.6) 154.2 1,470.3 (1,315.7) 154.6
Net Finance Income (10.0) (4.4)
Other Non-Operating Income 26.4 13.0
Income from Continuing Operations before Taxes 1,877.8 (1,723.6) 170.6 1,470.3 (1,315.7) 163.2
IV-2 Comprehensive Income Statement (FY’20.3Q & ’19.3Q) 　　
Consolidated
(Unit: Billion KRW)
FY ’20.3Q FY ’19.3Q Changes
Ⅰ. Gross Profit Revenue 1,508.3 1,372.0 136.3
1. Revenue from rendering services 924.6 959.2 (34.6)
2. Valuation Gain/Loss by Equity Method 6.7 (1.1) 7.8
3. Revenue from Dividend 0.2 - 0.2
4. Revenue from Sales of Goods 576.8 413.9 162.9
Ⅱ. Operating Expenses (1,380.5) (1,243.0) (137.5)
Ⅲ. Operating Income(Loss) 127.8 129.0 (1.2)
Ⅳ. Financial Income(Loss) (6.1) (7.7) 1.6
Ⅴ. Non-Operating Income(Loss) (28.7) 20.4 (49.1)
Ⅵ. Income Tax Expenses (32.4) (33.5) 1.1
Ⅶ. Profit(Loss) from continuing operation 60.6 108.2 (47.6)
Ⅷ. Profit(Loss) from discontinued operation 1.9 (16.4) 18.3
Ⅸ. Profit (Loss) (Ⅶ+Ⅷ) 62.5 91.8 (29.3)
(Profit/Loss attributed to owners of parents) 21.7 48.3 (26.6)
v Earning per Share (KRW) 57.3 127.5 (70.2)
IV-2 Comprehensive Income Statement (FY‘19 & ‘18) 　　
Consolidated
(Unit: Billion KRW)
FY ‘19 FY ‘18 Changes
Ⅰ. Gross Profit Revenue 1,877.7 1,470.2 407.5
1. Revenue from rendering services 1,291.3 1,212.5 78.8
2. Valuation Gain/Loss by Equity Method (3.3) 24.6 (27.9)
3. Revenue from Dividend - - -
4. Revenue from Sales of Goods 589.7 233.1 356.6
Ⅱ. Operating Expenses (1,723.5) (1,315.6) (407.9)
Ⅲ. Operating Income(Loss) 154.2 154.6 (0.4)
Ⅳ. Financial Income(Loss) (10.0) (4.4) (5.6)
Ⅴ. Non-Operating Income(Loss) 26.5 13.0 13.5
Ⅵ. Income Tax Expenses (34.1) (34.8) 0.7
Ⅶ. Profit(Loss) from continuing operation 136.6 128.4 8.2
Ⅷ. Profit(Loss) from discontinued operation (58.9) (29.1) (29.8)
Ⅸ. Profit (Loss) (Ⅶ+Ⅷ) 77.7 99.3 (21.6)
(Profit/Loss attributed to owners of parents) 29.2 60.1 (30.9)
v Earning per Share (KRW) 230.8 233.4 (2.6)

NICEHoldingsInvestorsRelations 2020 3Q ENG

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NICEHoldingsInvestorsRelations 2020 3Q ENG

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NICE Holdings

Investors Relations Book

II. Investment Points

III. Business Introduction

IV. Financial Performance

Paid-In Capital • 18.9 Billion KRW (37,882,300 shares)

Revenue Stream • Dividend, SI Service, Brand Commission, etc. 1,200

Major Shareholders • Largest Shareholder (48.0%), Dalal Street, LLC (8.7%),

NICE Group consists of 3 business divisions

Data Business: Strengthened Competitiveness through Big Data Biz

Sustainable Growth Business

NICE Group has achieved the solid business performance

▶Revenue ▶Operating Profit

NICE Holdings strategically deploys its subsidiaries

Mr. Kim : Business Division

Data Business Payment Business Mfg. Business

42.99 100.00 34.97 42.70 91.00 35.80 32.33 49.77 97.66

NICE NICE ITM

100.00 76.82 66.00 100.00 95.70 72.38

NICE NICE NICE NICE

II. Investment Points

III. Business Instruction

IV. Financial Performance

G/L of Valuation of Securities 4,138 4,128 6,906 10,104 8,000

G/L of Valuation of Securities 850 1,176 1,325 1,022 6,000

Mkt. Cap Share value of NICE Info SVS NICE INT

NICE Holdings plans to gradually augment Propensity to Dividend

▶Dividend Policy of NICE Holdings ▶Dividend Policy of 4 Listed Subsidiaries Combined

(Million KRW) FY17 FY18 FY19

II. Investment Points

III. Business Instruction

IV. Financial Performance

As a market leader in credit information business, NICE Info Services is

▶Strong Business Performance ▶Business Offering of NICE CB

100 4.00% Company Cons CB Corp CB Big Data

Dominant market position in Consumer CB business

Steadfast and Highest OPM (>15% in FY19)

Securing the market leading position in Corporation CB business with

▶Market Share Stable Revenue Growth based on New Biz Development

Maintaining Stable OPM (5-year Avg. > 15%)

Business Expansion to Big Data and FinTech accelerated by

Utilization of Big Data Strengthened Competitiveness of Institutionalization of

▶Major Impacts by Deregulation

With the forecasted market size of approx. 1.9 billion USD,

• Deregulation on Big Data Business (during 1Q of 2020)

• Digital Transformation Biz

▶Strong Business Performance ▶Business Offering (VAN & PG Biz)

450 5-Year Rev. CAGR = 15.0% 45 NICE NICE

350 35 CAT, POS & S/W Dev NICE Full-Line SVC

11 • 4th Largest Economy in Asia

Strong • Continued economy growth expected

Favorite 22 • > 80% Population use credit card (1 st option)

33 • Move toward ‘cashless society’

▶Distinguished Market Positioning in Payment Business

: VAN : PG : Mobile Payment

KG Co. equipped with both

Combining favorable market conditions, competitive positioning and incomparable

(Unit: # of Transactions in Million)

• As more payment players enter into the market, # of Online &

Driving Growth & Securing Sustainability

▶Development of NICE Manufacturing Biz

IT Battery Pack Component, IoT Sensor Module,

Aluminum Structural Parts,

• POC is two in one solution which FY18