1. Objective, simplified financial solutions We bring positive change to the financial services industry by doing great things for consumers

2. Broker vs Advisor

4. BE PROTECTED Loan sharks and corrupt collectors are stealing from your employees by adding inflated fees and interest to loans and garnishee deductions. We protect your employees by auditing these loans and orders, ensuring we hold corrupt providers accountable. We’ve put millions back in the pockets of employees and we’d love to do the same for your employees: R6 million refunded to Sappi employees R3 million saved for Lonmin employees R4 million saved for Department of Defence employees 5 Stop the abuse by lenders and collectors

5. EAO Process & Irregularities Stopping EAO Monthly Fees Payment Plan Judgment and EAO Section 57 & 58 S129 Letter of Demand Loan Agreement 1. Loan amount 2. Fees and interest rate 3. Reckless lending (affordability checks) 4. NCA Compliance 5. Registered lender 6. Loan splitting Consumers Rights Notice 1. Validity (forged) 2. Date signed 3. Amount 1. Validity (court file) 2. Judgment debt vs loan 3. Installment 4. Interest rate 5. Fees 1. Collection costs 2. In duplum (S103) 3. Interest rate 4. S65J (10) Commission 5. Legal fees Rule 81 of the Law Society Magistrate Court tariff

6. 1.Remove the administrative burden Capture & administer all orders – EAO’s, administration orders and maintenance orders All administrative functions are performed by Summit. The employer only receives the order and scan it onto our system 2.Ensure that only valid, accurate and affordable orders are deducted Audit team with proven track record Audit orders, contracts and statements behind the orders Results in savings and refunds for employees 3.Ensure improved levels of communication Multi lingual call centre & email access to vendors and employees Regular reporting to management EAO Process Objectives

7. Systems: Payroll Deductions Typical rules: – Affordability – Interest calculation – Bank account verification – Balance management Insurance Medical Finance Unions Legal Intelligent Control PERSAL PERSOL Source

8. EAO Process Flow EAO RECEIPTING CHALLENGE SCHEDULE S PAYMENT via ACB AMENDED EAO COURT CONSENT E A O SCRUTINISE RECON PAYROLL 1 2 3 4 5 6 INTERFACE OUTPUT 7 8 9 Name of credit provider Is there a court stamp Is there a court number Amount of the order Amount of the instalment Interest rate Fees Repayment Plan Web Upload of Documents

9. Steyn Attorneys Irregularity Legal fees 10 times capital Action Magistrate Court Application

10. Result Stop payment notice received

11. Fin Africa EAO Irregularity Inflated balance on certificate Action Challenge letter

12. Fin Africa Statement Result “Correction”

13. Good Times Finance EAO Irregularity Costs equal to judgment amount Action Payment stopped

14. Good Times Finance Letter Result Costs written off

15. Fraud Irregularity Apparent fraud Result Pending Action Payment stopped

16. 1.Bring banking solutions to the payroll Build a community of service providers that is under the employers control Ensure contracted automated rules and real time affordability checks to protect employees Service providers must pass on savings from payroll collections to the employee 2.Show bite early on Go to court Question every deduction and repayment plan Get experts 3.Shop around Retirement funds, life insurance, funeral cover, cellular contracts, credit and similar group scheme solutions will reduce prices for payroll deductions Conclusion

17. 5% Commission Theory Practice Employee Creditor Employer/Su mmit R100 Invoice R5 plus VAT Employee Account Opening balanceR1000 Credit(R100) Closing balanceR900 Employee Creditor Employer/S ummit R100 R95 Employee Account Opening balanceR1000 Credit(R95) Journal credit(R5) Closing balance900