March 5, 2018 Credit Saison Co., Ltd.

Forming a capital alliance with Grab Inc., the largest on-demand in the Southeast Asia,

and established Grab Financial Services Asia Inc.

Credit Saison Co., Ltd. (The first section of the Tokyo Stock Exchange: 8253, Head Office: Toshima-ku, Tokyo, President and CEO: Hiroshi Rinno, henceforth Credit Saison) formed a capital alliance with Grab Inc. (Headquarters: , CEO: Anthony Tan, henceforth Grab), the largest on-demand ridesharing company in Southeast Asia, and established Grab Financial Services Asia Inc. (henceforth GFSA) to launch a digital lending using smartphones in Southeast Asia.

Grab is the leader of the ridesharing market that is rapidly expanding in Southeast Asia, and with its mobile application matching drivers and passengers, Grab offers its service across 8 countries and 178 cities. The service boasts 2.4 million registered drivers, 4 million rides per day, and 81 million downloads of its application. Grab's mobile payment service GrabPay, one of the leading payment platforms in the region, is also growing by leaps and bounds.

Utilizing the lending business know-how that Credit Saison has amassed over more than 30 years in the retail finance business in Japan, GFSA will put to good use the data on the drivers registered with Grab and passengers using its on-demand ridesharing application, as well as the big data accumulated from the use of GrabPay. This will create a highly precise system of credit scoring, allowing GFSA to offer its services matching the everyday funding needs of its users. GFSA will first launch by offering loans to the 2.4 million drivers registered with Grab, before making the service available to the general users subsequently. GFSA will aim to increase its presence in Southeast Asia through the establishment of a card-less payment business as well as the application of credit scoring to identify new business opportunities.

[Plan of development of the joint venture operated by Credit Saison and Grab]

Acquisition of part of shares

■Big data/Sales channels ■Know-how in finance business accumulated in Japan

■Network in the Southeast Asia region ■Provide funding to accelerate growth of the joint venture

 Lending services to Grab drivers & passengers Investment  Connecting app with GrabPay & promote cashless Investment payment through establishment of a credit scoring and card-less payment

Expanding to Southeast Asian countries

[About Grab Inc.] http://www.grab.com Grab is Southeast Asia's leading on-demand transportation and mobile payments platform. Grab solves critical transportation challenges to make freedom a reality for 620 million people in Southeast Asia. Grab's core product platform includes transport solutions for drivers and passengers with an emphasis on convenience, safety and reliability, as well as its proprietary mobile payments platform, GrabPay, which is increasing access to mobile payment solutions for millions of Grab riders and drivers across Southeast Asia and deepening financial inclusion in the region. Grab currently offers services in Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.

■Jason Thompson, Managing Director, GrabPay Southeast Asia, and Director, Grab Financial Services Asia.

“The new joint venture, Grab Financial Services Asia, puts in place a much-needed infrastructure that will accelerate financial inclusion in Southeast Asia. Many in our region have no access to loans that they can use to purchase a new home or grow their small business. GFSA is building a reliable alternative to traditional credit scoring methods that is customised for the unbanked majority of consumers and small in Southeast Asia, which will create economic opportunity for millions across the region,” said Jason Thompson, Managing Director, GrabPay Southeast Asia, and Director, Grab Financial Services Asia.

[About Credit Saison Co., Ltd.] http://www.saisoncard.co.jp/ Credit Saison has been issuing credit cards since 1982, and over the past 30 years, as a cutting-edge service business, we have been following a customer-oriented approach throughout our operations. We have secured a unique position without being tied down to common practice in the credit card industry. Based on our business vision of becoming a Neo Finance Company in Asia, Credit Saison always innovates its business model to boost competitiveness.