Investor Presentation January - 2016 Vingroup

VINGROUP JOINT STOCK COMPANY
Corporate Presentation
January 2016
Contents
A. Vietnam Macroeconomic Updates
3-7
B. Introduction to Vingroup
8 - 13
C. Business Strategy
14 - 16
D. Key Investment Highlights
17 - 27
E. Financial Overview - VAS
28 - 34
F.
35 - 41
Financial Overview - IFRS
G. Trading Performance
42 - 43
CORPORATE PRESENTATION
A. Vietnam Macroeconomic Updates
Improving Macroeconomic Conditions Supporting Growth

Real GDP growth remains strong
Inflation and interest rates have eased considerably

17.0%
6.2%
5.2%
5.4%
6.0%
13.5%
6.7%
Driven by power & fuel price

surges, devaluation of the
currency in February and a
minimum wage hike in October
10.4%
8.7%
8.4%
4.1%
0.6%
2014
2015
18.7%
9.1%
2011
2012
2013
2014
2015
2011
2012
Inflation
2013
Lending Interest Rate
Disbursed FDI stays robust
Exchange rate: VND remains resilient
(US$ bn)
(VND)
11.0
10.5
2011
2012
11.5
2013
Currency has
remained stable for
the past 5 years
Average devaluation: 2.1% p.a
14.5
6.6%
12.4
2014
2015
Sources: Economist Intelligence Unit, CBRE reports, General Statistics Office of Vietnam, State Bank of Vietnam, IMF, Bloomberg
20,649
20,859
21,017
21,189
22,495
2011
2012
2013
2014
2015
Favorable Long-term Outlook for Consumption and Real Estate

Catching up with Regional Peers in Urbanization(2)
Private consumption growth(1)
(%)
Singapore100%
100
8.2%
80
6.1%
Malaysia74%
Indonesia52%
China53%
Philippines49%
Thailand35%
India32%
Vietnam32%
60
5.2%
4.9%
4.1%
40
20
0
2014
2010
2005
2000
1995
1990
1985
Regions lowest retail space(3)
1980
2014
1975
2013
1970
2012
1965
2011
1960
2010
Rising income levels(4)

(GDP per capita, US$)
Modern retail space in SEA cities (thousand sqm), 2014
8,000
6,000
4,000
2,000
1,277
1,507
1,722
1,866
2,010
2,050
2,120
2,250
2,430
Yangoon
Phnom Penh
(3) CBRE
(4) Economist Intelligence Unit
Ho Chi Minh City
Hanoi
Jakarta
Kuala Lumpur
Manila
Sources:
(1) General Statistics Office of Vietnam
(2) World Bank, Urbanization Data, 2014
Singapore
Bangkok
2010A 2011A 2012A 2013A 2014A 2015E 2016E 2017E 2018E
Integrated Platform Focused on the Vietnamese Urban Consumer

Consumer Expenditure on Housing
Consumer Expenditure on Tourism
(US$ bn)
(US$ bn)
17.1
14.3
15.1
8.9
2011
10.0
2012
11.3
12.6
13.6
8.5
2013
2014
2015E
2016E
2017E
2011
9.6
2012
10.5
2013
11.4
11.9
2014
2015E
Consumer Expenditure on Hospital
Total Consumer Spending(1)
(US$ bn)
(US$ bn)
5.0
2011
5.6
2012
6.5
2013
8.0
89.3
2014
2015E
2016E
2017E
Source: Economist Intelligence Unit as of 18 February 2016.

(1) Total Consumer Spending includes Consumer Expenditure on Housing, Tourism and Healthcare, amongst other sub-categories
2016E
2017E
160.1
10.3
9.0
7.3
13.0
2011
100.4
2012
111.6
2013
122.3
129.8
2014
2015E
143.3
2016E
2017E
Vietnam Residential Market is at the Start of an Uptrend

Hanoi residential transactions on the rise with
high- and mid-end prices increasing slightly
(Number of units sold)
(US$ psm)
8,000
$2,000
6,000
$1,500
4,000
$1,000
2,000
0
$500
$0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012
High-end
2013
Mid-end
2014
2015
2012
2013
High-end
2014
Mid-end
2015
Low-end
Low-end
HCMC residential transactions rapidly accelerating with
high-and mid-end prices increasing the fastest in the

last 2 years
(Number of units sold)
(US$ psm)
12,000
10,000
$2,000
8,000
$1,500
6,000
$1,000
4,000
$500
2,000
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2012
High-end
2013
Mid-end
2014
2015
$0
2012
High-end
2013
2014
Mid-end
2015
Low-end
Low-end
Vingroup will be a key beneficiary of the positive Vietnam real estate outlook
7
Source: CBRE
B. Introduction to Vingroup
Evolution of Vingroup
Start-up spirit
Total Assets ($ mm)

8,000
$472 mm sale of Vincom Center A HCMC mall

$150 mm international credit facility
$200 mm international bond
$200 mm Warburg Pincus investment in Vincom Retail
Vincom Mega Mall Royal City & Vincom Mega Mall Times City
Vinschool Royal City, Times City opened
Vincom Plaza Long Bien

3 new Vinpearl resorts:
- Vinpearl Luxury Nha Trang
- Vinpearl Golf Club Nha Trang
- Vinpearl Da Nang Resort & Villas
7,000
6,000
$70 mm equity placement

Vinpearl Phu Quoc
Vincom Plaza Ha Long
Vinhomes Central Park construction
started
1,499
Vinpearl Land Nha Trang
5,000
4,000
2,000
1,000
863
Listed on HOSE
(largest real estate co.)
Vinpearl Resort
Nha Trang
3,000
1,293
$100 mm convertible bond
Vincom Center
Ba Trieu
305
Vincom JSC
109
92
180
Vincom Vinpearl merger

$300 mm convertible bond
Vinmec Times City International
Hospital (Hanoi) opened
Vinpearl JSC
Technocom
34
11
11
$100 mm Warburg Pincus

follow-on
investment
in
Vincom Retail
10 new Vincom shopping
malls:
- Vincom Center Nguyen Chi
Thanh (HN)
- Vincom Mega Mall Thao
Dien (HCMC)
- 8 Vincom Plazas in Thu Duc,
Da Nang, Can Tho, Dong
Nai, Quang Trung (HCMC),
Hai Phong, etc
3 new Vinpearl resorts:
- Nha Trang Bay Resort &
Villas
- Ha Long Bay Resort
- Phu Quoc Resort & Golf
2 new Vinmec Intl hospitals
in:
- Central Park (HCMC)
- Phu Quoc
0
1993
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Revenues ($ mm)
Note:
Financials for years 2008 2014 are presented based on IFRS and financials for earlier years and 2015 are presented based on VAS
Revenue (US$ mn) = Revenue (bn VND)/ Exchange rate VND/USD as of 31 December each year
Largest Listed Real Estate Company with Diversified Consumer

Sector Exposure
To create a better life for the Vietnamese people
Supermarkets (VinMart), Electronic Retailing (VinPro), Specialities stores

(VinDS) and E-commerce (Adayroi)
10
Golf Courses, Gyms and Spas
Healthcare (Vinmec)
Others
Retail,Commerce
Shopping Malls (Vincom Center, Vincom Mega Mall

and Vincom Plaza)
Resorts (Vinpearl) and Amusement Parks (Vinpearlland)
Hospitality
Residential
Villas and Apartments (Vinhomes)
Education (Vinschool)
Agriculture (VinEco)
Significant Focus on Recurring Revenue Streams

with profitability resilient through economic cycles(1)
Recurring revenue streams continue to grow (1)

(US$ mm)
567
(% of total)
147
276
90
45
45
Dec-11
174
121
16
75
84
Dec-13
7
56
58
Dec-12
(US$ mm)
126
26%
(3)
96
33%
186
60
19
99
125
97
109
Dec-14
Dec-15
22%
65
49
Hospitality & Entertainment
Consumer retail
Education, Heathcare & Others
34
19%
35
46
Dec-11
Dec-12
Retail rental
32
41
23
21
62
69
Dec-13
Dec-14
(2)
Hospitality & Entertainment
Consumer retail
(% of total)
24%
16
19
14
(2)
Retail rental
(3)
135
59
17%
16%
44%
Dec-15
Education, Healthcare & Others
Portfolio of commercial real estate continues to ramp up with(4)

17 Vincom shopping malls,
8 Vinpearl resorts & 2 Vinpearl Land

amusement parks
3 Vinmec hospitals and 5 Vinschools
Strategic shift towards a greater percentage of revenues coming from recurring income streams such as
retail, hospitality, healthcare, and schools enhances the resilience of the business model.
11
(1) Source: Audited IFRS Consolidated Financial Statement for 2011, 2012, 2013, 2014 and
Unaudited VAS 2015
(2) Consolidation for 2010 and 2011 sourced from management accounts. Prepared for
comparability purposes
(3) Includes negative gross profit from non-recurring revenue of (US$4.4mm) in 2012 and
(US$2.7mm) in 2013
(4) On 26 October 2015, Vingroup announced an acquisition of Maximark, a popular retail brand
with a large portfolio of malls and supermarkets concentrated in South Vietnam
Strong Residential Sales: New Projects(1)

Vinhomes
Central Park
Nov-14(2)
Prime location along the western bank of the Saigon River,
falling within the western border of the city center area, just
4km from the citys business center in District 1
Total site area: 422,000 sqm
6,702 apartment units sold in 2015
82% of all residential units sold to date
Total contract value: US$1,367 mm, received US$1,011 mm
First delivery: Q4 2016
7,319
4,099
1,433
939
Dec-14
2,552
1,433 1,160
Mar-15
Jun-15
Sep-15
Cumulative units launched
Villa & Shophouse

Projects
Vinhomes Gardenia
Vinhomes Times
City - Park Hill
Mar-15(2)
12
(1) As of 31 December 2015

(2) Pre-Sale launched
Cumulative units sold
friendly architectural design of the island country of

Singapore
3,925 units sold in 2015
78% of all residential units sold to date
Total contract value: US$587 mm, received US$492 mm
5,019
3,925
3,867
2,446
1,455
2,987
594 268
Dec-14
Mar-15
Jun-15
Sep-15
Dec-15
Mixed-use project in Tu Liem, Hanoi. Located in one of the
Apr-15(2)
Dec-15
Located just 4 km from Hanoi City center, adopting the eco
Jan-162)
6,543
9,295
7,641
most prime locations of My Dinh - Hanoi's modern commercial

and administrative center, and well connected with
transportation infrastructure
Sales launched: Jan 2016
Total Units: Over 360 villas, shophouses & 2,000 apartments
First delivery: TBD
PRE-SALE LAUNCHED IN JANUARY 2016

TO BE UPDATED
Villas & Shophouses in Nha Trang, Phu Quoc, Ho Chi Minh
1,795
City, Ha Tinh & Hai Phong

1,082 units sold in 2015
60% of all units sold to date
Total contract value: US$986 mm, received US$709 mm
1,082
1,016
702
264 138
Dec-14
Mar-15
Jun-15
Sep-15
Dec-15
Overview of Land Acquisition and Sale Process

Understanding the development and presales process is a crucial part in appreciating Vingroups de-risked business
model for residential projects
Land Acquisition
Presales
1. Obtaining approval-in-principle
Acquire an approval-in-principle
from the local peoples committee
Indicates the approval of a
specific project
2. Investment Registration
Certificate
Can be obtained once approvalin-principle received
After the investment certificate
obtained, a developer may
proceed to:
o Get approval on the land
clearance plan
o Commence the land
clearance process
Stage 1 Sale & Purchase

Contract(1)
First Stage of Presale
Signing of SPA
When foundation work or
first floor area is complete
A deposit of c.5,000 USD is
required to be placed whilst
the SPA is being prepared
The first SPA payment is
about 25-30% of the
purchase price
Stage 2 Apportioned
Pre-sales Before
Completion
Second Stage -Installments

Subsequent installment
payments made depending
on SPA terms
Installment payments of 530% are made in varying

stages depending on SPA
Delivery
Delivery of property
upon completion
Buyer has to pay the remaining
~30% of contract value
upon delivery depending on
SPA
Revenue can be recognized by
the Group for sale of property
Property is delivered to buyer
and removed
from inventory
Obtain and deliver the land use
right certificate to buyers
o Start construction of the project
13
(1) Vietnamese law requires the completion of either the foundation of a building or its 1st floor area before a sale and purchase agreement can be entered into. Sales prior to this completion
may some times be made in the form of a loan agreement, which gets converted into an SPA once conditions to signing SPAs are fulfilled.
C. Business Strategy
14
What Differentiates Vingroup?

Leading Privately Sponsored
Listed Company In Vietnam
with Premium Brand Names in
Commercial, Residential,
Hospitality, Education and
Retail with Demonstrated
Quality and Prestige
Fully Integrated Real Estate

Owner and Developer of
Large-Scale and Mixed-Used
Properties, with Exposure in
Key Consumer Segments
Established and Demonstrated

Track Record
Leverage Vingroup's Network,

Financial Capacity and
Resources to Develop an
Ecosystem of Complementary
Brands, Products and Services
VINGROUPS DIFFERENTIATION
CREATES COMPETITIVE ADVANTAGES
15
Strong brand equity and

network of shopping malls,
resorts, amusement parks
and retail centers throughout
Vietnam that attracts
premium tenants, buyers &
clients
Premium pricing for new
projects focused on upper
and middle class Vietnamese
consumers
A pioneering established
corporation that leads the
development of real estate,
retail and services sectors.
Maintain large market share

especially with the upper and
mass affluent segments
Expands into new retail

business segments to lead
consumer trends in Vietnam
Realise synergies among

consumers of focused
segments
Higher percentage of
recurring revenues over time
driven by a growing
operational portfolio
Asset sales allow efficient

capital recycling into new
investments and generation
of RoE
Expansion into
complementary businesses
to enhance the Group's
recurring revenue and
profitability
Leveraging nation-wide
network and brand equity to
achieve leadership position
in all business segments in
the near term
Business Strategies Are Reinforcing

1. Focus on High-quality, Large-scale Mixed Use Developments in
Major Cities and Further Expand into Selected Strategic Cities
Develop a substantial portfolio and maintain effectiveness of
Leverage expertise and experience in identifying and securing
commercial buildings, hotels, recreational areas, supermarkets

and convenience stores, hospital and schools:
Provides a source of stable, recurring income
Potential for capital gains
prime sites
Target the mid to high-end markets

Deliver on the need for high-quality retail and residential
space through mixed use developments which increase
its appeal
Develop high-quality resorts and villas
2. Grow Recurring Revenues Across Targeted

Consumer Segments
Target the growing disposable income of upper and middle

class consumers by delivering on their various needs
5. Expand into New Strategic Sectors by

Taking Advantage of Financial Capacity and
Brand Equity to Create an Ecosystem of
Complementary Products
3. Diversify and Enhance Property Income

Stream and Efficient Capital Management
Commence large-scale projects near

high-growth areas
Capitalizing the synergies between realestate demands and consumer demands
Leverage the Group's brand equity and

presence especially in retail real-estate to
ramp up our nation-wide retail network
potential such as retailing and agriculture to
establish an early competitive advantage
affordable units
Stable & Defensive Two pronged approach:

Develop properties for sale.
Operate properties for stable, recurring
Invest in segmented sectors with high growth
Expand addressable market by providing more
income
Sell properties if foresees long-term
profitability for capital recycle
Pre-sales reduces the need to raise capital

4. Further Develop in-house Sales and Leasing, Project
Management and Property Management Capabilities
Develop internal capabilities to enhance efficiency and support its

portfolio of prime commercial investment properties
Sales and Leasing
Project management
Property management
Provide high quality utility services
16
D. Key Investment Highlights
17
Investment Highlights
18
Vietnams Largest Listed Real Estate Developer
Capital Efficient Real Estate Platform with Track Record of Successful Asset
Disposals
One of the Largest Landbank in Prime Locations Across Vietnam
Ecosystem of Complementary Products and Services
Nation-wide Retail Network
Well-recognized Premium Brand Names in Vietnam
Proven Track Record of Access to Capital Markets
Highly Experienced Management and Good Corporate Governance

Largest Vietnamese Developer Offering Pure-play Exposure

Vingroup (rated B+ by Fitch and B by S&P) is the largest listed real estate company in Vietnam by market capitalization with
controlling interest in over 40 developments, which are in prime urban and high growth areas in key cities throughout Vietnam
The Largest Listed Real-estate(1) Company in Vietnam
34 projects at prime central

locations in key cities
(US$ mm)
3,945
287
Vingroup
listed companies in
Vietnam
High-quality
commercial,
residential,
hospitality and
mixed-used
properties
249
#2
One of the largest- Mass market
#3
Developer of
residential builder
Furniture and
granite business
Diversifying into
agriculture, mining
& hydropower
industrial and
business parks
and high-end
hotels
Also invests in
energy, mining
and education
166
#4
Primarily
industrial parks
developer
Infrastructure
development
Telecom &
network
development
A Clear Leader in Vietnamese Real Estate
19
61 Projects(2) across Vietnam
Proven ability to secure prime sites in the Central Business Districts

of Hanoi and Ho Chi Minh City
Quality properties that operate under the Vingroup brand names
Growing portfolio of investment properties: A critical contributor of
recurring revenues
Track record of successful project development, sales and
property management
Repeated successful launches of residential and commercial
projects
(1) Market data as of 31 January 2016

(2) As of 31 December 2015, Vingroup has 61 projects in Vietnam, of which, controlling interest in
60 projects, except Vinhomes La Seine
North Vietnam (Excluding Hanoi)

Vincom Plaza Ha Long
Vincom Plaza Le Thanh Tong, Hai
Phong
Vincom Plaza Ly Bon, Thai Binh
Vincom Plaza Viet Tri, Phu Tho
Vincom Plaza Ly Thai To, Bac Ninh
Dream City, Hung Yen
Vinmec Medical University,
Hung Yen
Hanoi
Vincom Center Ba Trieu
Vincom Plaza Long Bien
Vinmec Times City Intl Hospital
Royal City
Times City (phase 1)
Vinhomes Riverside
Vinhomes Times City Park Hill
Vinhomes Nguyen Chi Thanh
Vinhomes Smart City
Vinhomes Riverside 2
Green City Dan Phuong
Vinhomes Gardenia
Vincom Center Pham Ngoc Thach
Central Vietnam
Vincom Plaza Ngo Quyen, Da Nang
Vincom Plaza Hung Vuong, Hue
Vincom Plaza Ha Huy Tap, Ha Tinh
Vincom Plaza Buon Ma Thuot
Ho Chi Minh City
Vincom Center Dong Khoi
307 309 Vo Van Ngan
Vincom Plaza Thu Duc
Vincom Mega Mall Thao Dien
Vinhomes Central Park
Vinhomes La Seine (Green City Sai
Gon)
South Vietnam (Excluding HCM city)
Vincom Plaza Long Xuyen, An Giang
Vincom Plaza Hung Vuong, Can Tho
Vincom Plaza Xuan Khanh, Can Tho
Vincom Plaza Rach Gia, Kien Giang
27 projects at key
tourist destinations
North Vietnam
Vinpearl Ha Long Bay Resort
Vinmec Ha Long
Vinmec Hai Phong
Vu Yen Island, Hai Phong
Central Vietnam
Vinpearl Da Nang Resort & Villas
Lang Van, Da Nang
Da Nang 2, Da Nang
Vinpearl Resort Hoi An
Nha Trang, Khanh Hoa
Vinpearl Nha Trang Resort
Vinpearl Land Nha Trang
Vinpearl Luxury Nha Trang
Vinpearl Golf Club Nha Trang
Vinpearl Nha Trang Bay Resort &
Villas
Vinpearl Golf Land Resort & Villas
Vinpearl Villas Hon Tre Nha
Trang
Vinpearl Phu Quy
Vinpearl Hon Mot
Vinmec Nha Trang
South Vietnam (Excluding Nha Trang,

Khanh Hoa)
Vinpearl Phu Quoc Resort
Vinpearl Land Phu Quoc
Vinpearl Golf Club Phu Quoc
Vinmec Phu Quoc Intl Hospital
Vinpearl Phu Quoc Resort & Golf
Vinpearl Cam Ranh, Khanh Hoa
Vinpearl Bai Dai, Cam Ranh
Vinpearl Da Lat
Vinpearl Quy Nhon, Binh Dinh
Operating Project
Under construction and pipeline projects
Capital Efficient Business Model

Integrated Development Model
Recycle Capital through Opportunistic Asset Sales

2006
Vinhomes Central Park
2010
Vincom Center
Ba Trieu
Tower A
(office
component)
Vincom
Financial
Tower (office)
Sale Price(3) US$25mm US$51mm

Residential
GFA(1)
24%
76 %
Residential segment
presales helps to lighten
capital requirements in a
mixed-use project
Commercial and
others GFA(1)
Recurring
revenue
becomes a
larger
component of
total project
revenues
over time
Profit %(4)
Holding
period
(years)
Area Sold
2012
2013
2015
Vincom Center
Vincom Center Vincom Center
Ba Trieu
A HCMC
Nguyen Chi
Tower B
(shopping
Thanh (office
(office
mall, hotel)
component)(2)
component)
US$64mm
US$472mm
US$110mm
>150%
>100%
>900%
>100%
>130%
0(5)
0(5)
24,059 sqm
98,057 sqm
64,700 sqm
22,480 sqm 31,300 sqm
Acquirer
Demonstrated ability of successful asset sales even in challenging
macroeconomic conditions
Recycling of capital into new investments to generate high ROE
20
(1) As of 31 December 2015

(2) Sale price and Profit to be adjusted after hand-over
(3) Exchange rate at the end of the transaction years were used.
(4) % profit denotes the profit achieved from the sale, by comparing the sale price with the
construction cost, taking into account depreciation, of the assets
(5) Sold upon construction completion
One of the Largest Landbanks in Prime Locations Across Vietnam(1)

GFA Breakdown(2)
Landbank Breakdown by Construction Status

(,mm sqm)
Villas,
Shophouses
27%
76.8 mm sqm
13.2 mm sqm
Beach Villas
26%
53.2
Entertainment 1%
School 3%
18.8
10.1
2.2
0.9
Completed
Under
construction
Hospital 9%
4.9
Development
Completed
Under
construction
Development
Total GFA: 27,846,807 sqm
Planned GFA Breakdown by Construction Status(1)(2)
Land Banking Strategy
(mm sqm)
90 mm sqm of landbank is sufficient for at least 10 years of

development
Only look for land at prime locations in major cities
Seek to acquire land adjacent to existing mixed-use projects to

benefit from economies of scale and increase the critical mass of
existing projects
10.3 mm sqm
17.5mm sqm
11.1
7.1
3.3
3.1
2.6
0.6
Completed
Under
Development
construction
Completed
Vinhomes and Vincom Retail Projects
21
(1)
(2)
High rise 23%
Hotel 5%
Commercial 7%
Proactive in infrastructure development to support accessibility of

own projects
Under
Development
construction
Vinpearl Projects
As of 31 December 2015, Landbank and GFA of under-development projects are subject to change
GFA does not include (i) agricultural land, (ii)leased retail areas, or (iii) parking, public areas,
infrastructure and roads in projects
Ecosystem of Complementary Products and Services

Synergies Amongst Consumer Segments & Increased
Exposure Across All Brands
Exceptional offerings for customers who use Vingroup

Card
Quality residential properties and uncompromising services

High-quality retail, entertainment experience
Large landbank in up-and-coming cities in Vietnam, experienced in
development and management of high-end hospitality properties
Amusement parks and family entertainment centers
International-standard hospitals
Full continual system from kindergarten through high school
with modern facilities
Own & operate a portfolio of supermarkets and convenience
stores at prime locations in key cities
Electronics retailing
Specialty retail stores
Comrehensive E-commerce
Clean and fresh vegetables & fruits
Facilities, Services & Benefits for Vingroup Customers

Real estate
Vinhomes
Vincom Center, Vincom
Mega Mall & Vincom Plaza
Retailing, Commerece
VinMart &VinMart+
VinPro & VinPro+
Adayroi
VinExpress (Logistic)
VinDS
22
Hospitality &
Entertainment Services
Vinpearl Resort
Vinpearl Luxury
Vinpearl Golf Club
Vinpearl Land
Vinpearl Resort & Golf
Healthcare
Vinmec Intl
Hospital
Medical
University
Education
Vinschool
Vinpearl Resort & Villas
Agriculture
Vinpearl Safari
VinEco
Vingroup Cards and VIP Vingroup Cards features:
Credit system consistently applied across Vingroups ecosystem

of products and services
First and only card in Vietnam that is able to connect and

integrate advantages and benefits
Points can be redeemed anywhere
Special priorities and benefits for cardholders
Nation-wide Retail Network

Robust investment in supermarkets, convenience stores, department stores at central locations throughout Vietnam.
Leveraging Vingroups financial capacity and relationships with suppliers to build brand equity.
Retail network at the end of December 2015
46 VinMart, 308 VinMart+, 15 VinPro, 98 VinPro+ stores
Key Retail Brands

VinMart
& VinMart+
VinPro & VinPro+
VinDS
Hanoi
12 VinMart
181 VinMart+
4 VinPro
5 VinPro+
North Vietnam(1)
6 VinMart
3 VinPro
20 VinPro+
Vinmart (>3,000 m2
supermarkets) and
Vinmart+ (100300 m2
convenience stores)
Vinpro (electronics and

appliances)
VinDS (Specialty retail

stores specializing in
cosmetics, shoes,
sportswear, furniture &
household appliances)
Central Vietnam
1 VinMart
13 VinMart+
1 VinPro
23 VinPro+
Ho Chi Minh City
12 VinMart
114 VinMart+
4 VinPro
28 VinPro+
(1) Excludes stores in Hanoi

(2) Excludes stores in Ho Chi Minh City
Proven execution capability and capital resources from Vingroup

Leveraging existing supplier relationships and attracting new quality
retailers
Expanding portfolio of shopping malls allows participating brands to

South Vietnam(2)
15 VinMart
3 VinPro
22 VinPro+
23
Comprehensive E-commerce
More Quality Choices for Vietnamese Consumers
achieve rapid expansion
Relentless focus on quality products and customer service excellence

Objectives:
Hundreds of retail stores throughout Vietnam in the near term
Seamless online-offline collaboration to deliver quality goods to
customers doorstep
Well-recognized Premium Brand Names in Vietnam

Strong Brands Across Segments
Secured 2 out of the 20 Golden Sites in Vietnam in 2010(1)
Vingroup develops its commercial, retail, residential and
Numerous Awards from Independent Media is a

Testimony of the Groups Brand Name
Top 100 ASEAN Companies 2014 by Standard

and Poors (S&P)
Regions Best Borrower 2014 Vietnam by

FinanceAsia
mixed-use properties under the Vincom brand name
Demonstrated ability to sell residential and commercial real

estate even in difficult times in 2010 and 2011
Proven execution skills: Completion of large scale projects

under CBREs estimation of construction time
Successful in identifying and developing premium

hospitality projects
Hosted large national and international events e.g. Miss

Vietnam World 2008, Miss Universe 2010 and Miss Earth
2010, Miss Vietnam 2014
World-class full-serviced general hospital and clinics at

urban center in Hanoi and Ho Chi Minh city
International standard facility equipped with modern test,

diagnostic and operating facilities
Educational philosophy behind Vinschool focuses on
the overall development of students from an early

stage in order to develop and shape the future
generations of Vietnam
Rapidly expanding supermarket and convenience store
network at central locations in key cities in Vietnam
Wide range of electronics and household appliances

International products and concepts, targeting local consumers
Best Mixed use Development (Asia) for Vinhomes

Riverside 2013
Best Retail Development (Vietnam) for Vincom
Mega Mall Royal City - 2014
Asia Pacific Property Awards
Vinhomes the most valuable real estate brand in
Vietnam in 2015
Vincom Retail & Vinpearl Top 50 most valuable
brands in Vietnam in 2015
Best Retail Developer in Vietnam
Euromoney Real Estate Awards 2012
Euromoney Real Estate Awards 2014
Best Developer (Vietnam)

South East Asia Property Awards 2012
Best Villa Development (Vietnam) for Vinhomes
Riverside
Leveraging Vingroups retail network and experience,

VinEcom aims to focus on first class customer care, and to
create a best-in-class online retail experience in Vietnam
Clean and fresh vegetables and fruits to the mass market

24
(1) In February 2013, Vingroup transferred 100% interest in Vincom Center A Ho Chi Minh City to a real-estate investment company.
As of 31 May 2013, the cash proceeds have been received in full
Best Condominium Development (Vietnam) for

Royal City
Well-recognized Premium Brand Names in Vietnam (cont)

Vingroups brand names are instrumental in securing new sites, achieving premium pricing and attracting global
brand tenants
with a High Quality and Diversified Tenant Base(1)
Prime Retail Malls Strategically Located in Key Cities

Ha Long
Retail
GFA(2):
30,777 sqm
Hai Phong
Retail
GFA(2):
16,355 sqm
Phu Tho
Retail
GFA(2):
22,500 sqm
Vincom
Center Nguyen
Chi Thanh
Vincom Plaza
Ha Long
Vincom Plaza
Le Thanh
Tong
Vincom Plaza
Viet Tri
Dong Nai
Retail
GFA(2):
25,785 sqm
Da Nang
Retail
GFA(2):
34,000 sqm
Can Tho
Retail
GFA(2):
16,000 sqm
An Giang
Retail
GFA(2):
13,832 sqm
Vincom
Plaza
Bien Hoa
Vincom Plaza
Ngo Quyen
Vincom Plaza
Hung Vuong
Vincom Plaza
Long Xuyen
Hanoi
Total Retail GFA(2):
481,327 sqm
Vincom
Center
Ba Trieu
Vincom
Plaza
Long Bien
Vincom
Mega Mall
Royal City
Vincom
Mega Mall
Times City
Ho Chi Minh City

Total Retail GFA(2):
130,622 sqm
Vincom
Center
Dong Khoi
Vincom
Plaza
Thu Duc
Vincom
Plaza
Quang Trung
Vincom
Mega Mall
Thao Dien
Golden
sites
25
(1) Tenants for Vincom Center and Vincom Mega Mall in Ho Chi Minh City and Hanoi
(2) GFA as of 31 December 2015
Track Record in Accessing International Capital Markets

More than 1 billion USD raised internationally through 6 pioneering transactions since 2009
Domestic Senior
Unsecured Notes,
guaranteed by
Private Equity
Investment by
Secondary
Placement of
Ordinary Shares
RegS/144A
International Senior
Unsecured Notes
International
Syndicated Loan
Convertible Bonds
Best Capital Markets
Deal 2012
Best Vietnam Deal 2013

Vietnam Capital
Markets Deal 2013
2013 Real-estate Deal

of the Year
February 2016
VND3,000 trln
May 2013
USD200mm
June 2015
USD100mm
April 2014
USD70mm
October 2013
USD150mm
Best Vietnam Deal

2012
Apr & Jul 2012

USD300mm(2)
Good relationship with all leading domestic banks

with repeat loan and bond issuance
Demonstrated ability to create onshore liquidity

through capital recycling of non-core assets
Holistic cooperation with local banks, including

facilitation of mortgage financings for customers and
transactional banking services at Vingroup
commercial properties
Strong cash balance maintained to service working

capital and interest payments
Cash & short-term investments sufficient to cover

any near term debt maturities independent of any
new capital raising
26
October 2013
USD200mm
Issuer that matter
(1) 290.3 mm of US$300 mm CBs were converted into shares by 18 February 2016
Strong control over capital expenditures allow flexibility

around liquidity management
Experienced Management Team, Good Corporate Governance and

Strong Sponsor
Mr. Pham Nhat Vuong

Chairman of the Board of Management
Holds a Bachelors Degree in Geological Economic Engineering, graduated from Moscow Geology University in Russia
Long track record as an entrepreneur both in and out of Vietnam, founded Technocom Limited Company in Ukraine, which was sold to Nestle S.A. in 2010
Established Vinpearl in 2001 and Vincom in 2002
Major shareholder of Vingroup
In 2012, he was recognized as Vietnams first billionaire by Forbes Magazine, and continued to maintain this sole position in 2013 and 2014.
Board of Management
Ms. Pham Thuy Hang
Vice Chairwoman
Ms. Pham Thu Huong

Vice Chairwoman
Ms. Nguyen Dieu Linh

Vice Chairwoman cum Deputy CEO
Ms. Vu Tuyet Hang

Vice Chairwoman cum Deputy CEO
Mr. Le Khac Hiep

Vice Chairman
Ms. Mai Huong Noi

Member cum Deputy CEO
Mr. Marc Villiers Townsend(1)

Independent Member
Mr. Joseph Gagnon(2)

Independent Member
Prof. Ling Chung Yee Roy(3)

Independent Member
Key Executives
27
Ms. Duong Thi Mai Hoa

CEO
Over 20 years experience
2 years with Vingroup
Ms. Vu Tuyet Hang

Vice Chairwoman & Deputy CEO
Ms. Nguyen Dieu Linh

Vice Chairwoman & Deputy CEO
Deputy CEO
Ms. Mai Huong Noi

Board member and Deputy CEO
25 years experience
Ms. Nguyen Thi Diu

Deputy CEO
Joined Vingroup in 2014
(1) Mr. Marc Villiers Townsend is the Managing Director of CBRE Vietnam
(2) Mr. Joseph Gagnon is a Managing Director of Warburg Pincus
(3) Pro. Ling Chung Yee Roy is the Managing Director of RL Capital Management
Mr. Pham Van Khuong
Mr. Dang Thanh Thuy

Deputy CEO of Vingroup JSC and
General Director of Vinpearl
20 years experience
11 years with Vinpearl
Ms. Nguyen Thi Huyen Tran
Deputy CEO of Vinpearl
Ms. Tran Thi Khanh Van
Chief Accountant
24 years experience
8 years with Vinpearl
Ms. Le Thuy Anh

CEO
16 years experience
3 years with Vinmec
Pro. Nguyen Thanh Liem
CEO Vinmec Times City Intl
Hospital
39 years experience
2 years with Vinmec
Mr. Nguyen Manh Duc
Chief Accountant
15 years experience
3 years with Vinmec
E. Financial Overview - VAS
28
(1)
Source: VAS Consolidated Financial Statement for 2015

Based on exchange rate of US$1 = VND 22,540 as of 31 December 2015
Debt profile overview

Debt maturity
(US$ mm)
976
As of 31 Dec 2015:
Average debt maturity: 3.6 years
222
106
491
129
20
648
62
36
26
Less than 1 year
Corporate bonds
342
111
111
1-3 years
Convertible bond
3-5 years
Convertible loan
Long-term borrowings
More than 5 years

Short-term debts
Average borrowing cost
11.3%
Dec-12
Source:
29
2015 VAS Consolidated Financial Statement

As of 19 February 2016, US$290.3mm of CBs have been converted or submitted for
conversion to equity.
10.8%
Dec-13
Note:
9.9%
9.4%
Dec-14
Dec-15
Based on exchange rate of US$1 = VND 22,540 as of 31 December 2015
Debt Mix Analysis

Diversified Funding Sources(1)
Debt Breakdown(1)
By Currency
Others(2),
USD,
19.4%
2.5%
Bank loans,
30.7%
Domestic bond,
48.6%
VND,
80.6%
By Interest Rate
Fixed,
21.3%
Convertible
bond, 6.4%
International
bond, 11.8%
Total: VND36,959 Bn (US$1.64Bn)

Floating,
78.7%
30
Note:
Based on exchange rate of US$1 = VND 22,540 as of 31 December 2015 (applied to 2015 financials)
(1) Based on VAS Consolidated FS as of 31 December 2015
(2) Including Convertible loan & Loan from Associate
Income Statement Highlights

Revenue
Gross Profit
(US$ mm)
(US$ mm)
1,500
1,297
278
567
1,019
933
488
508
Dec-14
Dec-15
332
868
176
109
44
65
Dec-11
373
121
252
692
Dec-12
Dec-13
Sales of properties
180
48
Dec-14
Dec-15
Dec-11
Dec-12
Dec-13
Recurring income
EBITDA(1)
Profit for the Year(1)(2)
(US$ mm)
(US$ mm)
548
338
401
266
200
239
184
282
84
Dec-11
51
Dec-12
Dec-13
Dec-14
Adjustment for sale of Vincom Center A HCMC
31
Source: Audited VAS Consolidated Financial Statements for 2011, 2012, 2013, 2014 and Unaudited VAS 2015
Note: CAGR from 2011 to 2015
Based on exchange rate of US$1 = VND 22,540 as of 31December 2015 (applied to 2015 financials)
Dec-15
Dec-11
177
87
63
138
Dec-12
Dec-13
Dec-14
Dec-15

(1) Dec-13 includes fair value adjustment realized when the Group sold
Vincom Center A Ho Chi Minh City
(2) Includes profit after tax of discontinued operations
Revenue Performance
Total Revenue
Rental(1)
Sale of Properties
(US$ mm)
(US$ mm)
(US$ mm)
136
1,500
145
1,019
102
1,297
933
692
62
45
252
65
Dec-11 Dec-12 Dec-13 Dec-14 Dec-15
867
Hospitality & Entertainment Services
Healthcare
(US$ mm)
(US$ mm)
125
31
99
373
34
75
56
14
109
7
NA
NA
Dec-11
32
Dec-12
Dec-13
Dec-14
Dec-15
(1) Include rental from Groups Subsidiaries
Profitability Gross Profit and Margin

Total Gross Profit
Rental(1)
(US$ mm)
(US$ mm)
65%
Sale of Properties
(%)
67%
57%
49%
(US$ mm)
(%)
50%
40%
37%
36%
49%
29%
508
58
488
66
71
377
373
Dec-14
Dec-15
248
29
41
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
19
126
Dec-11
Dec-12
Gross Margin
Dec-13
Gross Margin
332
Healthcare
(US$ mm)
(US$ mm)
(%)
(%)
46%
25%
40%
180
28%
34%
8
(4)
17%
34
39
19
33
(3)
(21%)
48
Dec-11
Source: Audited VAS Consolidated Financial Statements for 2011, 2012, 2013 ,2014 and Unaudited VAS 2015
Dec-12
Dec-13
Dec-14
Gross Margin
21
Dec-15
(63%)
Dec-11
Dec-12
Dec-13
Dec-14
Gross Margin
Dec-15
Balance Sheet Highlights

Total Cash and Short-Term Investments
Total Debt(1) and Net Debt(2)
(US$ mm)
(US$ mm)
880
1,640
1,532
647
616
1,292
541
255
259
197
183
58
Dec-11
76
Dec-12
1,030
291
260
771
885
676
760
473
355
356
339
Dec-13
Dec-14
Dec-15
Cash and cash eq.
218
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
ST investments
Net Debt(2) / Net Debt + Total Equity
Total Assets & Total Equity

(In US$m)
6,480
4,205
60%
3,575
44%
2,634
36%
1,676
389
Dec-11
878
513
Dec-12
Dec-13
Total Assets
34
1,276
Dec-14
41%
31%
1,662
Dec-15
Dec-11
Dec-12
Dec-13
Dec-14
Dec-15
Total Equity
Note: Based on exchange rate of US$1 = VND 22,540 as of 30 December 2015 (applied to 2015 financials)
(1) Total debt is equal to interest-bearing loans and borrowings, plus financial
liabilities designated as at fair value through profit or loss
(2) Net debt is equal to total debt less cash and cash equivalents and short-term
investments
F. Financial Overview - IFRS(1)
35
(1)
Source: IFRS Consolidated Financial Statement for H1/ 2015

Based on exchange rate of US$1 = VND 21,840 as of 30 June 2015
Debt profile overview

Debt maturity
(US$ mm)
973
As of 30 Jun 2015:
Average debt maturity: 3.8 years
342
523
144
151
170
78
86
487
Less than 1 year
1-3 years
Corporate bonds
Convertible bond
Convertible loan
352
60
60
3-5 years
More than 5 years
Long-term borrowings
Short-term debts
Total
Average borrowing cost
11.6%
Dec-12
36
Source: IFRS Interim Consolidated Financial Statement H1 201

Based on exchange rate of US$1 = VND 21,840 as of 30 June 2015 (applied to 2015 financials)
11.0%
Dec-13
10.0%
9.5%
Dec-14
Jun-15
Debt Mix Analysis

Diversified Funding Sources(1)
Debt Breakdown(1)
By Currency
Others(2), 1.1%
Bank loans,
36.9%
USD,
27.7%
Domestic bond,
42.6%
VND,
72.3%
By Interest Rate
Fixed,
20.6%
Convertible
bond, 8.3%
International
bond, 11.1%
Total: VND37,681 Bn (US$1.73Bn)

Floating,
79.4%
37
Notes:Based on exchange rate of US$1 = VND 21,840 as of 30 June 2015 (applied to 2015 financials)
(1) As of 30 June 2015
(2) Including Convertible loan & Loan from Associate
Income Statement Highlights

Revenue
Gross Profit
(US$ mm)
(US$ mm)
507
1,293
276
341
863
175
109
45
64
Dec-11
1,017
305
121
184
688
Dec-12
Dec-13
645
124
521
Dec-14
Sales of properties
Jun-14
255
585
127
231
354
Jun-15
53
Dec-11
Dec-12
Dec-13
Profit for the Year(1)(2)
(US$ mm)
(US$ mm)
Jun-14
Jun-15
287
473
265
230
Dec-14
Recurring income
EBITDA(1)
607
207
279
263
342
159
116
252
136
181
148
42
Dec-11
Dec-12
Dec-13
Dec-14
38
Source: IFRS Consolidated Financial Statements for 2011, 2012,

2013, H1 2014, 2014 and H1 2015
Note: Based on exchange rate of US$1 = VND 21,840 as of 30 June
2015 (applied to 2015 financials)
Jun-14
Jun-15
Dec-11
Dec-12
Dec-13
Dec-14
Jun-14
Jun-15
(1) EBITDA excludes valuation gains / losses of investment property and investment property under construction
(2) Dec-13 EBITDAs and Profits include fair-value adjustment realised when the Group sold Vincom Center A HCMC
(3) Includes profit after tax of discontinued operations
Revenue Performance
Total Revenue
Rental(1)
Sale of Properties
(US$ mm)
(US$ mm)
(US$ mm)
1,017
134
1,293
102
688
65
62
70
521
354
46
184
64
863
Dec-11 Dec-12 Dec-13 Dec-14 Jun-14 Jun-15
645
585
Healthcare
(US$ mm)
(US$ mm)
31
99
75
305
56
60
50
13
109
39
15
7
NA
15
Source: IFRS Consolidated Financial Statements for 2011, 2012, 2013, H1 2014, 2014 and H1 2015
Note: Based on exchange rate of US$1 = VND 21,840 as of 30 June 2015 (applied to 2015 financials)
NA
Profitability Gross Profit and Margin

Total Gross Profit
Rental(1)
(US$ mm)
(US$ mm)
Sale of Properties
(%)
(US$ mm)
(%)
507
341
255
Healthcare
(US$ mm)
(US$ mm)
(%)
(%)
207
26%
29%
24%
127
8
(4)
(3)
53
(21%)
(63%)
40

Gross Margin
Balance Sheet Highlights

Total Cash and Short-Term Investments
Total Debt(1) and Net Debt(2)
(US$ mm)
(US$ mm)
1,769
823
1,550
640
612
1,259
419
284
258
213
155
58
Dec-11
909
741
256
180
997
947
647
468
354
356
404
Dec-13
Dec-14
Jun-15
256
76
Dec-12
Cash and cash eq.
Dec-11
Dec-12
Dec-13
Dec-14
Jun-15
37%
37%
36%
Dec-13
Dec-14
Jun-15
ST investments
Net Debt(2) / Net Debt + Total Equity
Total Assets & Total Equity

(In US$m)
5,515
4,612
4,024
3,299
49%
2,435
783
Dec-11
1,095
765
Dec-12
Dec-13
Total Assets
41
1,521
Dec-14
1,658
Jun-15
25%
Dec-11
Dec-12
Total Equity
(1) Total debt is equal to interest-bearing loans and borrowings, plus financial liabilities designated as at fair value through profit or loss.
(2) Net debt is equal to total debt less cash and cash equivalents and short-term investments
G. Trading Performance
42
Share Price Performance over the Last 12 Months
47,000
42,000
37,000
32,000
Feb-15
Mar-15
May-15
Jun-15
Vingroup Share Volume
Price VND47,600 as of 31 Jan 2016
Sep-15
Vingroup Share Price
Nov-15
Dec-15
VN Index rebased
10 Day
20 Day
30 Day
1 mth
3 mth
6 mth
12 mth
24 mth
36 mth
48 mth
60 mth
2,211
105,249
4,669
2,202
104,669
4,644
1,999
92,975
4,125
2,202
104,669
4,644
1,359
61,995
2,750
1,253
55,291
2,453
1,162
49,285
2,187
1,267
51,833
2,300
1,139
44,853
1,990
943
36,439
1,617
857
32,652
1,449
22.1
1.2%
44.0
2.4%
60.0
3.2%
44.0
2.4%
87.0
4.7%
160.4
8.6%
288.1
15.4%
629.5
33.7%
846.3
45.3%
942.3
50.4%
1,066.0
57.1%
2.6%
5.1%
7.0%
5.1%
10.1%
18.6%
33.5%
73.2%
98.4%
109.6%
123.9%
49,100
45,000
0.2%
49,100
45,000
0.2%
49,100
40,000
19.0%
49,100
45,000
4.2%
49,100
40,000
4.6%
49,100
37,900
10.4%
49,100
35,930
24.8%
49,100
32,342
16.4%
49,100
31,807
32.9%
49,100
27,637
33.1%
49,100
25,156
59.2%
(3.4%)
5.3%
23.0%
10.0%
14.8%
22.6%
30.1%
18.4%
20.1%
(6.4%)
52.4%
Average closing price (VND)

Volume weighted average price (VND)
47,820
47,599
47,820
47,530
46,210
46,510
47,820
47,530
44,658
45,602
43,484
44,124
41,657
42,420
40,106
40,925
38,482
39,379
36,853
38,632
36,414
38,103
Market cap as of 31 Jan 2016 (US$ mm)

Total number of shares (mm)
3,945.2
1,868.2
Average daily volume ('000)

Average daily trading value (VND mm)
Average daily trading value (US$'000)
Total volume traded (mm)
% of total shares outstanding
% of free float
Share price
Highest traded price (VND)
Lowest traded price (VND)
Performance over the period
Index outperformance over the period
43
Aug-15
8.0
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0.0
Jan-16
Volume (m)
Share Price (VND)
52,000
Source:
(1)
Bloomberg as of 31 January 2016.

Performance against the VN Index.
(1)
Disclaimer
This presentation may contain forward-looking statements that involve risks and uncertainties. Actual future performance,
outcomes, and results may differ materially from those expressed in forward-looking statements as a result of a number of
risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry
and economic conditions, interest rate trends, cost of capital and capital availability, cost of construction, availability of real
estate properties and land, competition from other companies and venues for the sale/distribution of goods and services, shifts
in customer demands, customers and partners, changes in operation expenses, including employee wages, benefits and
training, governmental and public policy changes and the continued availability of financing in the amounts and the terms
necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements,
which are based on current view of management on future events.
44
Investor Relations Department

Vingroup JSC
Vingroup Office Tower, Vinhomes Riverside Eco-Urban Area
Long Bien District, Hanoi, Vietnam
45
Tel:
+84 (4) 3974 9999 ext. 759
Fax:
+84 (4) 3974 8888
Website:
http://www.vingroup.net
E-mail:
ir@vingroup.net

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D. Key Investment Highlights

E. Financial Overview - VAS

Financial Overview - IFRS

A. Vietnam Macroeconomic Updates

Improving Macroeconomic Conditions Supporting Growth

Inflation and interest rates have eased considerably

Driven by power & fuel price

Lending Interest Rate

Disbursed FDI stays robust

Exchange rate: VND remains resilient

Average devaluation: 2.1% p.a

Favorable Long-term Outlook for Consumption and Real Estate

Private consumption growth(1)

Regions lowest retail space(3)

Rising income levels(4)

Modern retail space in SEA cities (thousand sqm), 2014

Ho Chi Minh City

2010A 2011A 2012A 2013A 2014A 2015E 2016E 2017E 2018E

Integrated Platform Focused on the Vietnamese Urban Consumer

Consumer Expenditure on Tourism

Consumer Expenditure on Hospital

Total Consumer Spending(1)

Source: Economist Intelligence Unit as of 18 February 2016.

Vietnam Residential Market is at the Start of an Uptrend

high- and mid-end prices increasing slightly

(Number of units sold)

HCMC residential transactions rapidly accelerating with

high-and mid-end prices increasing the fastest in the

(Number of units sold)

Total Assets ($ mm)

$472 mm sale of Vincom Center A HCMC mall

Vincom Plaza Long Bien

$70 mm equity placement

Vinpearl Land Nha Trang

$100 mm convertible bond

Vincom Vinpearl merger

$100 mm Warburg Pincus

Largest Listed Real Estate Company with Diversified Consumer

Supermarkets (VinMart), Electronic Retailing (VinPro), Specialities stores

Golf Courses, Gyms and Spas

Shopping Malls (Vincom Center, Vincom Mega Mall

Resorts (Vinpearl) and Amusement Parks (Vinpearlland)

Villas and Apartments (Vinhomes)

Significant Focus on Recurring Revenue Streams

Recurring revenue streams continue to grow (1)

Hospitality & Entertainment

Education, Heathcare & Others

Hospitality & Entertainment

Education, Healthcare & Others

Portfolio of commercial real estate continues to ramp up with(4)

8 Vinpearl resorts & 2 Vinpearl Land

3 Vinmec hospitals and 5 Vinschools

Strong Residential Sales: New Projects(1)

Prime location along the western bank of the Saigon River,

Cumulative units launched

Villa & Shophouse

(1) As of 31 December 2015

Cumulative units sold

friendly architectural design of the island country of

Cumulative units launched

Cumulative units sold

Mixed-use project in Tu Liem, Hanoi. Located in one of the