where happiness lives

Corporate Presentation September 2019

Disclaimer
IMPORTANT: The information contained herein is preliminary and subject to change without notice, its accuracy is not guaranteed, has not been independently verified and may not contain all material
information concerning Vinhomes Joint Stock Company (the “Company”) and its subsidiaries (the “Group”). You should not rely upon it or use it to form the basis for any investment decision or
commitment whatsoever.

None of the Company, its shareholders, or any of their respective affiliates, directors, officers, employees, agents, advisers or any other person makes any representation or warranty (express or
implied) or accepts any responsibility or liability for the accuracy or completeness of this presentation or any or all of the information in this presentation or otherwise made available. It is not the
intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the financial or trading position or prospects of the Group. No part of this
presentation shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. Further, nothing in this presentation should be construed as constituting legal,
business, tax or financial advice. You should conduct such independent investigations and analysis of the Group as you deem necessary or appropriate in order to make an independent determination
of the suitability, merits and consequences of investment in the Company.

This presentation contains “forward-looking statements”. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and
all of which are based on management’s current beliefs and expectations about future events. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as
“believe”, “expects”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “targets”, “plans”, “predicts”, “continues”, “assumes”, “positioned” or “anticipates” or the negative thereof,
other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are not guarantees of future
performance. These forward-looking statements speak only as at the date of this presentation, and none of the company, its shareholders, or any of their respective affiliates, directors, officers,
employees, agents, advisers or any other person undertakes to update or revise any forward-looking statements as a result of new information or to reflect future events or circumstances.

1
Vietnam's #1 Integrated Real Estate Developer

Dominant market share of 18%(1) across ALL residential segments in Vietnam, 4.5x the next largest
developer. In the premium segment, Vinhomes has a significant market share of c.40%(3)

Key Highlights

Dominant Real Estate

Vietnam Residential Set Developer and a
Ability to Harness
for Multi-year Upwards Community and Lifestyle
Vingroup Ecosystem
Cycle Creator Experiencing
Accelerating Growth

High Earnings Visibility

Proven Track Record and
Supported by Unrivalled Experienced Management
Rapid Cash Flow Cycle
c.15 Year(4) Land Bank Team and Robust
Leading to Superior
and Sustainable Corporate Governance
Returns
Business Model

Notes: (1) Based on number of units sold across all segments in the residential market of HCMC and Hanoi between 2016 and 6M2019, according to CBRE. (2) Based on number of units sold in the mid-end segment in HCMC and Hanoi in 2018, according to CBRE. (3) Based on number of units sold in the
high-end and luxury condominium segments in HCMC and Hanoi from 2016-6M2019, according to CBRE. (4) Based on 88mm sqm total GFA for sale divided by average amount of residential GFA sold annually from 2018 – 2020..

2
 where happiness lives

Key Investment Highlights

Key Investment Highlights

1 Ability to Harness Vingroup Ecosystem

2 Vietnam Residential Set for Multi-year Upwards Cycle

Dominant Real Estate Developer and a Community and Lifestyle

3 Creator Experiencing Accelerating Growth

where happiness lives

High Earnings Visibility Supported by Unrivalled c.15 Year(1) Land
4 Bank and Sustainable Business Model

Proven Track Record and Rapid Cash Flow Cycle Leading to

5 Superior Returns

Experienced Management Team and Robust Corporate

6 Governance

Note: (1) Based on 88mm sqm total GFA for sale divided by average amount of residential GFA sold annually from 2018 – 2020.

4
 1 Ability to Harness Vingroup Ecosystem
Vingroup has established itself as a market leader across the full breadth of consumer related sectors from essentials to
aspirational.

Residential Retail Leasing

Integrated residential Retail mall owner, developer and

developer in Vietnam operator in Vietnam

Consumer Retail Hospitality

Comprehensive multi-format Hospitality and

retail operator entertainment operator

Social Infrastructure Industrials/Technology

Healthcare and education provider Automobile manufacturer, mobile

Pharmaceutical and agricultural devices and technology ventures
producer
Essentials Aspirational

#1 loyalty program in Vietnam with c.7.8 million members(1)

The Largest Listed Company in Vietnam

(1) As of 31 August 2019

6
 2 Unique Vietnamese Fundamentals for Home Ownership
Fastest Growing Economy in Southeast Asia with Strongest Middle Income Second Highest Population Proportion Among Workforce
Growth Population with Age Range Between 25 – 44 as % of Total Population
2018 – 2020E Real GDP Growth (%)

Middle Income Population(1)

6.7% Growth 33.0% 32.9%
2018 – 2020E CAGR (%)
5.5%
5.0%
4.4% 29.9% 30.6%
29.9%
29.5%
2.8% 16.2%
11.3% 28.4% 28.4% 28.2%
1.6%
2.5% 2.5% 2.4%

Thailand
Vietnam

Malaysia

Singapore
Philippines
Indonesia
Thailand
Singapore

Malaysia

Vietnam
Philippines
Indonesia

Malaysia Vietnam Indonesia Myanmar Laos Thailand Singapore Philippines

Fastest Urban Population Growth in Southeast Asia, with Increasing Inflow of FDI
Significant Room to Run Registered FDI (US$bn) / Cumulative Contribution of FDI by Sectors (%)
Urban Population 2018A – 2025E Growth (%) Vietnam’s Urbanization Rate by Year
(%)  Revised housing regulations for foreigners from 1 July 2015
 Foreign Vietnamese can now buy several residential properties in Vietnam if they have
Total addressable market to rise by valid visas
c. 3.3x to c. 186k condominium units per
3.9%  Foreigners can now buy leasehold residential if they have an entry visa
annum(2) by 2022E

2.9% 2.9%
Proportion of urban households in Vietnam  Real Estate accounts for 19% of FDI in 2018

2.7% set to increase at a CAGR of 3.9% over

2.1% 2018 – 2025E
35.9 35.5
41.0%
Others
1.2%
24.4 29%
22.8
20.2 Manufacturing
35.9% 47%
35.2%
Power
Thailand
Singapore

Malaysia

Vietnam
Philippines

Indonesia

5%
Real estate
2017 2018 2025E 19%
2014 2015 2016 2017 2018

Source: CBRE Vietnam, Euromonitor, Oxford Economics 2018, EIU, Colliers, JLL Research, BMI, World Bank
Note: (1) Middle income population defined as households with income of more than US$10,000 per annum. (2) For condominium market in HCMC and Hanoi only; based on CBRE condominium demand model and annual condominium demand of 186,000 units in 2022E.

7
 2 Vietnam Residential Market Set to Take Off
Vietnam’s Housing Significantly More Affordable Than Regional Peers Vietnam’s Mortgage Market is Significantly Underpenetrated Compared to
Home Price-to-Income Ratio (x) in 2017(1) Regional Peers
7.5 Total Home Mortgage Loans Outstanding as % of GDP in 2018
6.9

Average 6.0
51.0%

4.9
4.7
40.1%
4.0
Average 30.6%

22.7%

8.4%
5.7%

HCMC Kuala Lumpur Jakarta Bangkok Manila Vietnam Philippines Thailand Malaysia Singapore

Inflation and Interest Rate Sustained at Low Levels Vietnamese Residential Prices have Significant Room to Run
Prime Residential Price Growth
(3)
(Index: 2006 = 100)
(2)
Average CPI (Y-o-Y) Lending Rate Deposit Rate
10 16% 275
9.2 HCMC
9 13.5% 14% 250 Bangkok
Kuala Lumpur
8 Manila Residential
12% 225
Average

7 6.6 Shanghai upside

10% 200 potential
6
7.6% 7.5% 175
5 8%
4.1 6.9%
4 3.5 3.5 150
6%
3 2.7
4% 125
2
100
1 0.6 2%
75
0 0%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
2012 2013 2014 2015 2016 2017 2018

Source: Market research, JLL. Note: (1) Based on top quintile household incomes and an entry level apartments across cities. (2) Represents lending rate for housing loans offered for the first year of the loan term. (3) Represents deposit rate offered for the 12-month terms by a number of notable commercial
banks as at 31 Dec 2018.

8
 2 Vinhomes Poised to Benefit from Higher Condominium Absorption in Vietnam
Total addressable market for condominiums in HCMC & Hanoi to rise by c. 3.3x by 2022
Natural Growth in Number Accelerated Increase in Demand for Significant Multi-Year Growth
of Households Condominiums in HCMC & Hanoi Potential vs. Regional Peers

Population in Vietnam Annual Condominium Demand in HCMC & HCMC & Hanoi have Significant Room for
Hanoi Expansion in Absorption Compared to
100.2 Regional Peers
c. 3.3x
~186,000 Average Annual Sales Volume 2013 – 2018 (‘000 units)
94.66 increase
102
90.73 203
~56,000 84
13.0 ~34,000

7.3 7.9 7.8 8.6 8

31 7.5x 8.8x
25
16 18 HCMC Hanoi

58
2014 2018 2022E 2014 2018 2022E 27 23
Hanoi population (mm) Demand for Condominium Units (Hanoi) ('000 units)
HCMC population (mm) Demand for Condominium Units (HCMC) ('000 units)
Vietnam population (mm) Shanghai (*) Bangkok (*) HCMC Hanoi
(*)Shanghai and Bangkok number calculated from 2013 - 2017


• Population in Vietnam is expected to grow
from 94.66mm to 100.2mm in the 4 years
 • Rising affluence and income will lift
household ownership (1) and conversion
from 2018 to 2022E into condominium units(2) 
• HCM and Hanoi addressable
condominium market is a small fraction

• Expected to increase number of household
units by 1.0mm in 2022E or 238k annually

• 2018 absorption of 56k is relatively small
when compared with natural household
compared with regional peers due to
affordability and mortgage availability
creation level – CBRE expects demand to

• Potential housing demand of up to
800,000 housing units per annum on
catch up to 186k (3.3x increase) by 2022E

• With improvements in both, the scope for

growth in the condominium addressable
average from 2018 to 2022 in Ho Chi Minh • Nationwide numbers are likely higher,
market is significant
City and Hanoi presenting opportunities to Vinhomes

Source: Euromonitor, CBRE. Note: (1) CBRE estimates 67.6% home ownership rate in Vietnam for 2018. (2) CBRE estimates that proportion of household who own a condominium in Hanoi/HCMC ranges from 9 – 16% as of 2018.

9
 Dominant Real Estate Developer and a Community and Lifestyle Creator
3 Experiencing Accelerating Growth

Dominance of Vietnam Residential Market by a

Significant Margin
 Largest Land Bank Expected to Deliver Sustainability and
Growth


• ~91,000 Residential Units Sold Since 2010
(1) Land bank (mm sqm)
Translates to 88mm sqm of residential GFA(5)(6)

where happiness lives (5)
• US$13.9bn of GDV Sold since 2010
(2) 161

18%(3)
Residential market share in Vietnam across ALL segments ~20x the land bank of next largest competitor

7 7 5

Vinhomes Vinhomes Novaland Nam Long Khang Dien

Vinhomes
Hung Thinh
Dat Xanh
 Capturing the Huge Middle Income Opportunity with the
Vinhomes Sapphire Brand
Others
Novaland
Gleximco
Others where happiness lives

Happy Vinhomes Vinhomes Vinhomes

c.37%(4) c.16%(4) Town Sapphire Ruby Diamond
Residential market share in Vietnam across Residential market share in Vietnam across
premium segment mid-end segment
Affordable Mid-End High-End Luxury
Vinhomes
Vinhomes
Vinhomes Hung Thinh
Keppel Land
Others
Vinhomes
Thao Dien
CapitalLand
Others
Novaland
Dat Xanh
 Strong Track Record of Historical Sales Value

Vihajico
Novaland
Others Unbilled bookings of US$3.4bn as of 31 August 2019
Others

US$bn 2010 – 2015 2016 2017 2018 8M2019

Complete Ecosystem of Complementary Offerings at Each Site with an Emphasis on Quality

Historical Sales Value 2.9 2.7 3.0 2.9 2.4

Hospitality /
Consumer Retail Retail Property Medical School Entertainment

Source: CBRE, Company Filings. Notes: Based on USDVND of 21,095 for 2013; 21,388 for 2014; 22,485 for 2015; 22,761 for 2016; 22,698 for 2017 and 23,240 for 2018, 23,250 for 8M2019. (1) Based on total number of residential units sold by Vinhomes from 2010 to 2017 as a business line of Vingroup and
2018, 8M2019 as an entity. (2) Based on all launched Vinhomes residential projects as a business line of Vingroup from 2010 to 2017 and as an entity in 2018 and 8M2019. (3) Based on accumulated sold units in 2016 – 6M2019 across all segments in the residential market of HCMC and Hanoi, according to
CBRE. (4) Based on accumulated sold units in the high-end and luxury condominium segments in HCMC and Hanoi from 2016-2018, according to CBRE. (5) As of 30 June 2019. (6) Including apartments, officetel, shophouses, shop office, beach villa, clubhouse for sale, beach villa and condo-tel. Excludes
completed projects.
10
 4 Unrivalled Land Bank in Strategic Locations forms Pillar of Growth for Vinhomes
Significant and Sustainable Land Bank… …Allowing Vinhomes to Continue Extending its
Nationwide Presence Across Prime Sites
Land Bank by Site Area Gross development value(2) (2019 – 2024)

(mm sqm) Translates to 88mm sqm

of residential GFA(1)(2) 61% of GDV is attributable to key cities of HCMC and Hanoi

Others 3%
5 Hai Phong 2% Hanoi
No. of Projects(4): 14
Hung Yen
24%

Hanoi, 31%

(1)

149 Quang Ninh

10% HCMC
~20x the land bank of Ho Chi Minh City
30%
next largest competitor No. of Projects(4): 10

in country Total GDV (2019 –

2024): US$45.7bn
12
Land bank by GFA for sale (mm sqm)(1)(2)
50% of residential GFA is located in key cities of HCMC and Hanoi
Launched Pipeline Projects
Additional projects under feasibility studies Hanoi
Thanh Hoa 1% Others 2%
GFA: 15mm sqm
Hai Phong 2%

In 2Q2019, Vinhomes is in last stage to record 2 Hung Yen 13%


Hanoi
million m2 out of the potential 5 million m2 into its 16% Ho Chi Minh City
land bank. GFA: 32mm sqm
Key
beneficiary of
upcoming Quang Ninh HCMC
32% 34%
infrastructure
developments

Total Residential GFA:

88mm sqm(3)

Note: (1) As of 26 July 2019. (2) Including apartments, officetel, shophouses, shop office, beach villa, clubhouse for sale, beach villa and condo-tel. Excludes completed projects. 88mm sqm of residential GFA converts into c. 71mm sqm of NSA. (3) Represents residential GDV only. GDV is calculated based on
net saleable area multiplied by the weighted average selling price of the project (based on middle of target ASP range per project.) (4) Includes pipeline and under construction projects

12
 5 Unparalleled Execution Capabilities through End-to-end Value Chain
Vinhomes’ Superior End-to-end Value Chain Evident in Industry Leading Operational Metrics
Return-on-Assets(1) (%)
 Ability and track record in securing the best land bank in Vietnam
 Continuously search for and acquire new sites through project Vinhomes 12.3%
Land Acquisition development

Land & Houses 9.4%

 Master planning ability in developing and designing integrated projects
with ecosystems
Master Planning and
Design Ayala Land 5.0%
 Effectively assists Vietnamese state agencies in identifying land rights
holders and facilitating resettlements on the government’s behalf
Novaland 4.7%
 Successfully shortens land clearance process from c. 2—3 years
Land Clearance per project to c. 9—12 months
BSD 3.3%
 Significant de-risking of model through Vingroup’s ecosystem of
complementary offerings such as hospitals, schools and retail
Infrastructure and Return-on-Equity(2) (%)
Ecosystem
 Ability to get customers to pay 70% upfront, reducing Vinhomes’
Vinhomes 33.0%
reliance on credit financing
Pre-sales, Sales  c.87% of residential units were sold within three months of the
Research and commencement of pre-sales in 2018 and first half of 2019(3) Land & Houses 21.0%
Marketing
 Vincom Construction, one of the largest construction
management firms in Vietnam No Va Land 16.6%
Construction and  Ability to control costs, quality and deadlines to ensure efficient
Quality Control delivery of superior quality properties
Ayala Land 15.6%
 Comprehensive range of after-sales services to ensure Vinhomes’
buyers needs are met
Property  Ancillary facilities such as gyms, pools, meeting areas, barbeque pits, BSD 5.0%
Management parks and waterways at Vinhomes properties

Vinhomes’ Unique Execution Capabilities Translate to Significant Competitive Advantage

 Secures Land at
Competitive Rates
 Effective Cost and Quality
Controls to Maintain  Unique Selling Strategies
De-risk Development Outlays  After-Market Service Offering Captures
Customer & Enhances Loyalty to Vinhomes
Margins

Source: Company filings

Notes: (1) Refers to net profit in 2018 divided by total assets in 2018. (2) Refers to net profit after minority interests divided by shareholder’s equity in 2018. (3) Average presale 3 months after launch date of projects opened for sale in 2018 and 1H2019

13
 6 Experienced Management Team and Robust Corporate Governance
Vinhomes is led by a team of highly experienced board of directors who are
supported by a experienced management team with average 22 – 23 years of experience

Nguyen Dieu Linh Pham Nhat Vuong Nguyen Viet Quang

Chairwoman Non-Executive Director Non-Executive Director
 >16 years with Vingroup  >26 years experience  >23 years experience
 >23 years experience  Founder of Vingroup, formerly known as  CEO of Vingroup
 Vice Chairwoman of Vingroup since 2008, Technocom Corporation in 1993  Previously Chairman at Vinmec
previously Deputy CEO of Vingroup  Chairman of Vingroup since 2011

Board of
Directors Cao Thi Ha An Varun Kapur Mueen Uddeen
Executive Director Independent Non-Executive Director Independent Non-Executive Director
 >28 years experience  >28 years experience  >41 years experience
 Project Development Director at Vingroup  Currently also Managing Partner of Indgrowth  Currently also Managing Director of
since 2016 Capital Arcpoint Associates Advisory
 Previously Deputy CEO and Director of  Previously Partner and Managing Director at
Military Insurance JSC TPG

Pham Thieu Hoa Douglas Farrell Nguyen Duc Quang

CEO Dy CEO Dy CEO
 >16 years with Vingroup Finance and Investment Sales and Marketing
 >32 years experience  >16 years experience in financial  >5 years with Vingroup
 Project Development Director of services  >14 years experience
Vingroup since 2005  Appointed Deputy Chief Executive of  Previously Sales and Marketing
 Currently holds directorships in other Finance and Investment of Vinhomes Director at Mercedes Benz An
Vinhomes subsidiaries in 2018 Du Autohaus
Management  Chartered Accountant
Team Phi Thi Thuc Nga Nguyen Ngoc Thuy Linh Nguyen Van Trai
Pham Van Khuong
Dy CEO Dy CEO Dy CEO Dy CEO
Customer services Construction Operations Security, Safety and Fire Prevention
 >11 years with Vingroup  >17 years with Vingroup  >4 years with Vingroup  >11 years with Vingroup
 Currently in charge of customer  >36 years experience  >9 years experience  Previously held directorship in
services for Vinhomes  Previously Dy CEO of Vingroup  Previously executive at Richard Moore Vincom Security since 2013
Associates, Audio Visual Global and
Head of Marketing Department at Syrena

Committed to robust Proven on-the-grounds

corporate governance Senior leadership with Proven ability to hire,
management team
standards in line with significant depth of train and retain talent
supporting nation-wide
global best practices experience and pedigree across business lines
operations

14
 6 Institutional Level Corporate Governance
Corporate governance principles emphasize a quality Board, sound internal controls, transparency and accountability to all
shareholders

Controls put in Place

• All transactions must be entered into on commercially reasonable basis as a statutory requirement
No conflict of
• Significant
Shareholders
related party transactions must be approved by the Board of Directors or the General Meeting of
interest in decision
making
• Interested parties must abstain from voting

• Vinhomes to undertake Vingroup residential and office mixed-use development going forward No direct
• Vingroup
Vietnam
to continue holding non-residential and non-office mixed used development real estate properties in competition with
Vingroup

• Entire project development team of Vingroup has been transferred to Vinhomes to ensure alignment of interest Clear distinction of
• Ingives
addition, Vinhomes has ROFR on land that can be used for residential from Vingroup at cost. This ROFR
Vinhomes economy of scale in land sourcing and leverage of the Vingroup brand in site acquisition
scope for Vinhomes

• Management service fees and construction EPC contracts are calculated based on comparable third-party
service providers and Vingroup fees are allocated based on number of man hours and assets under
management
Fair market
• Helps Vinhomes to manage expansion with minimum overhead as it can share resources and costs with the practices
rest of Vingroup
• Governed by related party rules

15
 where happiness lives

Business Strategy & Operational Updates

Driving Growth with New Brand Vinhomes Sapphire
 Total addressable market of US$22.9bn(2) per annum

Average Selling Prices (US$ / sqm)(5)

Leverage Vinhomes’ dominant market leadership of
c.40%(1) across high-end and luxury segments…

Luxury
where happiness lives
Vinhomes Diamond 1.3%(4) Phu My
0.4mm
• Luxury apartment units that offer the most privileged living Hung
standard
House- Over
holds US$4.0k

where happiness lives

Vinhomes Ruby CapitaLand
High-end 4.4%(4)
• High-end apartments for young affluent families looking for
a modern, well-equipped and quality living environment
1.2mm Households Keppel Land
o
… driving growth from Vinhomes Sapphire brand to US$2.0k
capture untapped and huge addressable
market opportunity
Novaland
Mid-end 19.4%(4)
where happiness lives
Vinhomes Sapphire 5.2mm Households Thao Dien
Investment
• Modern apartment units catered for young and savvy
home-buyers
US$1.0k

• Unique ability to offer Vingroup ecosystem, amenities, and

 community environment Affordable 44.2%(4)

• Strong reputation of prompt delivery of projects / units 12.0mm Households

• Differentiated after sales management service offering – property
management, repairs and security services Under US$1.0k
Source: CBRE, JLL Research. Notes: (1) Based on accumulated sold units in the high-end and luxury condominium segments in HCMC and Hanoi from 2016-2018. (2) For condominium market only; based on CBRE condominium demand model and annual condominium demand of 186,040 units in 2022E at an
assumed price of US$127,000 per unit. (3) Percentages shown exclude 30.8% of households within the segment of household below affordable. (4) Segments include households within the respective income ranges: Luxury (more than US$85k), Premium(US$55k – US$85k), Mid-end (US$25k – US$55k),
Affordable (US$10k – US$25k) and Below Affordable (below US$10k). (5) Based on net saleable area.
17
Wholesale Strategy to Boost Execution and Pull Forward Revenue and Profit
Recognition

Key Strategy
where happiness lives

• Focus on the development of VHM mega projects

• Master developer in mega projects, which entails master planning, develops
infrastructure and attracts sub-developers and institutional investors to co-develop
mega projects
− Track record and financial capacity to conduct large scale infrastructure
development; hence it has credibility with other developers
− Infrastructure include schools, the hospitals, shopping malls or retail outlets,
which are mostly Vingroup branded

Benefit for Secondary

Benefit for Vinhomes Benefit for Customers
Developers

 Earlier cash flow as compared to  Greater options (international/  Save time and effort in land bank
retail sale local schools, international/local replenishment as Vinhomes
developers, etc.) mega projects have completed or
 Shorter project development close to completed the approval
period with secondary  Larger and more amenities to process
developers concurrently building enjoy
up the project  Utilize an integrated infrastructure
 Shorter wait time to receive unit and supporting amenities

18
Operational Highlights of 2Q2019

Launching of long-awaited Vinhomes Grand Park

• Vinhomes Grand Park’s kick-off event was held on 22 June 2019 and soft launched in July
1 • Booking secured for c.10,000 units up to 21 Jul 2019, 100% of retail units launched
• Vinhomes Grand Park’s bulk sales: c. 6,900 units, 100% unit launched

Successful marketing campaign resulted strong pre-sales performance

• In May and June 2019, lagoon festival was organized to welcome ~50,000 people and contracts were signed for 1,700 units
2 within a month
• Vinhomes Ocean Park Ruby products were launched in 15 June 2019 with c.200 contracts signed in 2 weeks
• Continue to organize marketing events for 3 mega projects in 2H2019

Accomplishments of the bulk sales strategy in 2Q2019

• Deposit agreements signed for 4 blocks of Vinhomes Smart City, and 10 blocks of Vinhomes Grand Park
3 • Purchase agreements signed for 100% low-rise units of Vinhomes Ocean Park for c.1,700 units, remaining will be recorded in
3Q2019

Project injection to Vinhomes

• Vinhomes Dream City Hung Yen (456ha) has been transferred from Vingroup to Vinhomes. Effective interest of 100%
4 • Vinhomes’ interest in Vinhomes Grand Park is to be increased in 3Q2019. Expected effective interest of 90%
• Vinhomes Marina is to be transferred to Vinhomes in 2H2019. Expected effective interest of 100%

19
2Q2019 Key Events at Vinhomes

Vinhomes Grand Park’s Kick-Off Event Successful marketing campaign resulted strong pre-sales performance

On June 22, the long-awaited kick-off event for

The 24.5 ha reservoir – the project’s highlight – was
Vinhomes Grand Park mega project, called “Light Up
introduced for the first time
The Future”, was held in Ho Chi Minh City

Over 12,000 sales people from 63 distribution A series of entertainment events were held at Vinhomes
agencies participated – a record-breaking number Ocean Park during 25 May – 30 June 2019

The events attracted ~50,000 visitors and future residents,

The 271-ha project was revealed by state-of-the-art helped boost sales and create a good reputation as
LED mapping technology customers could experience the amenities provided

Bulk sales: c. 6,900 units (100% of units launched)

Total number of units sold/deposit during this period:
Retail sales: received booking for 10,007 units in July (100% of ~1,700 units/c. 2,800 – rise units launched in 2Q2019
units launched)

20
Pre-Sales Momentum Continues
Annual pre-sales (VND trillion) Pre-Sale NSA (mm sqm)
Breakdown by launched year
Unbilled bookings

27.7 60.8 79.3 69.8 77.9

2.6

2.0
65.2 67.6
1.5
53.2 55.2
1.2
35.6
0.8

2015 2016 2017 2018 8M2019 2015 2016 2017 2018 8M2019
Vinhomes Ruby/Diamond Apartments Vinhomes Sapphire Apartment
Vinhomes Villas Block sale

Apartments/
No. of Villas Pre-sales
Apartments/ NSA Estimated pre-sold in secured in
Date Villas launched NSA pre-sold delivery start 8M2019 8M2019
Project Name Location Product Type Launched Launched (sqm) (sqm) % pre-sold (1) date (units) (billion VND)

Vinhomes Ocean Park Hanoi High-rise Oct-18 21,771 1,271,661 869,184 68% 2019 7,470 9,430

Vinhomes Ocean Park Hanoi Low-rise Oct-18 2,395 638,022 638,022 100% 2019 887 7,159

Vinhomes Smart City Hanoi High-rise Dec-18 14,909 1,016,192 784,164 77% 2020 7,793 8,415

Vinhomes Grand Park HCMC High-rise Jul-19 16,867 1,046,238 1,045,259 100% 2020 16,852 23,648
(2)
Others 4,034 895,116 675,343 75% 685 3,417

Total 59,976 4,867,229 4,011,971 82% 33,687 52,068

Note: (1) Percentage of pre-sold is calculated by NSA pre-sold over total NSA launched. (2) Include Vinhomes West Point, Vinhomes New Center Ha Tinh, Vinhomes Marina and Vinhomes Star City Thanh Hoa

21
Development Status and Upcoming Launches Of Mega Cities
Mega-city projects

Vinhomes Ocean Park Vinhomes Smart City Vinhomes Grand Park

Location • Gia Lam District, Hanoi • Nam Tu Liem District, Hanoi • District 9, Ho Chi Minh city
Product size area • 420 ha • 280 ha • 271 ha
Construction start date • 2018 • 2018 • 2018
Estimated delivery start • Dec 2019 • 2020 • 2020
date

% construction • 30 Jun 2019: 18% • 30 Jun 2019: 14% • 30 Jun 2019: 13%
completion • Estimated 31 Dec 2019: 36% • Estimated 31 Dec 2019: 31% • Estimated 31 Dec 2019: 34%
Upcoming events • Regular site tours for existing and potential buyers • 8 events organized at the Japanese Garden – a • 8 entertainment events to be organized on site in Sep
• Weekly Lagoon festivals to be held until end of Aug highlight landscaping area in Sep 2019 2019
2019

Number of units
launched in 2019
(# of units) (2) (2)
45.0 45.3 (2)
43.6

Total Total
units units
17.2 1.8 launch launch
up to 31 8.9 up to Total units
8.9 6.9
Dec 1.6 31 Dec launch up to
6.5 2019 4.5 2.7 2019 31 Dec 2019
Cumulative units launched to Total Project Units Cumulative units launched to Total Project Units Cumulative units launched to Total Project Units
(3)
date (3) date date (3)

Bulk Sales Retail Sales To be launched in Subsequent Phases Launched Units Launched but Unsold Units

Note: (1) Picture of Vinhomes Ocean Park is taken in May 2019, pictures of Vinhomes Smart City and Vinhomes Grand Park are taken in July 2019 (2) Estimated figures, not reflecting the upcoming change in terms of number of units due to the introduction of Vinhomes Ruby and
Vinhomes Diamond, (3) Cummulative number of units lauched since inception until 30 June 2019;

22
Update on Project Injection Into Vinhomes

Vinhomes Dream City Vinhomes Grand Park Vinhomes Marina

Location Hung Yen Ho Chi Minh City Hai Phong

Total project area 456 ha 271 ha 49.2 ha

(including infrastructure)

Injection status • Transferred from Vingroup to • Vinhomes’ interest to be increased • To be transferred to Vinhomes in
Vinhomes in 3Q2019 2H2019
• Vinhomes’ effective interest: 100% • Vinhomes’ expected effective • Vinhomes’ expected effective
interest: 90% interest: 100%

Injection method • Change of Developer • Share transfer • Project transfer

• No cost incurred • Transaction value: c. VND 18 • Transfer at cost (TBD when
trillion transaction completed)

23
Delivery of Completed Units in 2019
Units Delivered or to be Delivered in 2019
Delivery in 2019
Units (#)

3,000

Vinhomes Star City Vinhomes The Harmony Vinhomes Metropolis Vinhomes Green Bay Vinhomes Sky Lake
1,760

1,500 1,250
~610 ~2,110
140 50 ~180 10
290 858
318 90 167
0
Vinhomes Star City Vinhomes The Harmony Vinhomes Metropolis Vinhomes Green Bay Vinhomes Sky Lake

Vinhomes Smart City(1) Vinhomes Ocean Park Vinhomes Imperia Vinhomes Golden River Vinhomes Central Park
7,000
6,550
6,210

4,810
1,500

260 270
1,734 200 110 10 30
0 55 93 236
Vinhomes Smart City Vinhomes Ocean Park Vinhomes Imperia Vinhomes Golden River Vinhomes Central Park

Delivered in 1H19 Retail Sales

To be Delivered in 2H19 Bulk Sales

Note: (1) Low-rise component called Vinhomes Green Villa

24
Moving into 2H2019

Launches(1) – • 1st time launch of luxury product line - Vinhomes Diamond in Vinhomes
Smart City
3 mega cities
1 • Further bulk sales transfers on negotiation
continue to be
the focus • Continue to organize comprehensive marketing events to boost sales for 3
mega projects.

• Vinhomes Skylake, Vinhomes Star City, and Vinhomes Imperia are main
2 Expected projects to be delivered in 2H2019 for retail home buyers.
delivery • Vinhomes Smart City, and Vinhomes Ocean Park will be key deliveries in
2H2019 for bulk sales.

• Hanoi: increasing interest from foreign investors continues to boost

residential demand
• Hanoi: more supply coming in the West and East areas with moderate price
Market growth
3
Conditions(2)
• HCMC: the East continues to lead the market (mainly Vinhomes Grand
Park)
• HCMC: new launches expected in 2H2019 thus stabilizing price growth

Note: (1) Subject to regulatory approvals and market conditions. (2) Source: CBRE

25
 where happiness lives

Financial Highlights
Financial Performance Overview

Total Revenue Gross Profit

(VND bn) (VND bn)

38,664 10,061 206

290 10,576
2,079 26,736
244 264
816
1,198
574
15,297 15,527 4,454 5,167 4,127
11,217 25 10,106
2,254 898 9,527
462 356 30
1,745
271
263
4,101 4,281 4,072
133
9,339 12,780 35,769 14,795 24,965 (3) (12)

2016 2017 2018 1H2018 1H2019 2016 2017 2018 1H2018 1H2019
(1) (1)
Sale of Inventory Properties Leasing Others Sale of Inventory Properties Leasing Others

Profit before Tax Profit after Tax and Minority Interest

(VND bn) (VND bn)

14,285
19,719

9,853
13,387
7,859
9,730

2,795 2,109 1,649 1,410

2016 2017 2018 1H2018 1H2019 2016 2017 2018 1H2018 1H2019

Note: Based on VAS Audited Consolidated Financial Statements for 2016, 2017, 2018 and VAS Reviewed Consolidated Financial Statements 6M2019. (1) Includes revenue from general contractor services, shared profit from VCR, Vinschool, Vinpearl (until such components are completely
transferred to those respective Vingroup’s subsidiaries) and others
27
Financial Performance Overview (cont’d)

Total Revenue Gross Profit and Gross Profit Margin

(VND bn) (VND bn)

40.3% 50.8% 32.6% 11.0% 46.0%

41.3% 38.9% 33.9% 30.4% 42.9%

75,009 40,547 34,735 24,641
17,991 14,615
2,130 2,130
46,798 23 12,155
916 462 1,198 298
21,705
886 8,887 (2) 483
206
952 271 574 91
71,963 30 264
393 22,213
175 17,485 25
44,960 12,101 14,145
434 39,814 8,622
32,964
20,879

2016 2017 2018 1H2018 1H2019 2016 2017 2018 1H2018 1H2019
(1) (1)
Sale of Inventory Properties Leasing Others Sale of Inventory Properties Leasing Others
Margin for Sale of Inventory Properties Margin for Leasing

Adjusted EBITDA and Margin(2,3) Adjusted PATMI(4)

(VND bn) (VND bn)

Margin
37.3%(3) 33.8% 46.9% 26.5% 41.9%

14,234
35,208
9,338 11,319
209 257 9,853
11,460 909
15,832 799 7,859
262 552
322 1,259
35,208 14,558 14,234
999 1,136 10,755 2,687
9,601 9,853
1,259 552 7,859
3,359 13,822 14,558 4,383
10,755
5,581

2016 2017 2018 1H2018 1H2019 2016 2017 2018 1H2018 1H2019

EBITDA EBITDA Attributable to Block Sale of 6 Buildings in Vinhomes Central Park PATMI PATMI Attributable to Block Sale of 6 Buildings in Vinhomes Central Park
Sponsorship & Donation Sales Consulting Fees Trademark Fees Adjusted EBITDA Margin Sponsorship & Donation Sales Consulting Fees Trademark Fees

Note: The financials as presented above are illustrative and based on the arithmetic aggregation of (i) Vinhomes JSC audited general purpose financials for FY2016-2018, (ii) Excluded Projects financials for FY2016-2018 and (iii) Reviewed Consolidated Financial Statements 6M2019. (1) Others principally comprises revenue from
general contractor services, shared profit from VCR, Vinschool and Vinpearl and others. (2) Includes other operating income and other operating expenses and adjusted for (i) sponsorship & donation, (ii) sales consulting fees (not expected to be incurred post acquisition of Vinhomes Property Management (“VHPM”) in 2018; however,
this excludes any in-house costs at VHPM that may be incurred by Vinhomes JSC) and (iii) trademark fees previously paid to Vingroup JSC, which are not expected to be incurred going forward. (3) Adjusted EBITDA margin calculation excludes other operating income recognized from block sale of 6 buildings in Vinhomes Central Park.
28 (4) Adjusted for (i) sponsorship & donation, (ii) sales consulting fees (not expected to be incurred post acquisition of VHPM in 2018; however, this excludes any in-house costs at VHPM that may be incurred by Vinhomes JSC) and (iii) trademark fees previously paid to Vingroup JSC which are not expected to be incurred going forward
 Balance Sheet Overview

Total Assets Inventory

VND bn VND bn

138,935 36,858
119,689
35,672 27,630
28,486
17,006
51,304
37,521 6,883 91,203 103,263 8,475
21,029 44,421
16,492
31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-2019 31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-19

Current Assets Non-current Assets

Total Cash & Cash Equivalents(1) and Total Borrowings Total Equity
VND bn VND bn

58,973
31,909 48,145
26,062

15,327 14,612
9,157
9,549 10,124
2,802 4,525
1,562

31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-2019 31-Dec-2016 31-Dec-2017 31-Dec-2018 30-Jun-2019

Total Borrowings Cash and Cash Equivalents

Note: Based on VAS Audited Consolidated Financial Statements for 2016, 2017, 2018 and VAS Reviewed Consolidated Financial Statements for 6M2019.
(1) Cash and cash equivalents includes short-term investments.

29
Key Credit Metrics

Net Debt(1) / (Total Assets – Cash & Cash Equivalent) Net Debt(1) / Equity

27.7% Average Debt Maturity: 1.17 years

136.0%
23.8%

56.9%
9.2%
19.4%

31-Dec-2017 31-Dec-2018 30-Jun-19 31-Dec-2017 31-Dec-2018 30-Jun-19

Total Debt / Total Assets Interest Coverage Ratio

Times

29.9% 14.3
26.7% 12.0

18.8%

31-Dec-2017 31-Dec-2018 30-Jun-19 1H2018 1H2019

Note: Based on VAS Audited Consolidated Financial Statements for 2017, 2018 and VAS Reviewed Consolidated Financial Statements for 6M2019. (1) Net Debt = (Short-term Borrowings + Long-term Borrowings) – (Cash & Cash Equivalent + Short-term Investment).
(2) Interest coverage ratio = EBIT/Interest Expense
30
 where happiness lives

Appendix
Market Summary for 1H2019
Hanoi – supply and demand

No. of units
14,000
12,000 Launched units: 17,700
10,000
8,000 +25% yoy
6,000
4,000
2,000
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Sold units: 16,300
2016 2017 2018 2019
+27% yoy
Launched units Sold units

Hanoi – pricing
Q2 2019: $2,345
Price (USD/m2) Average: $1,955
3,000
Mid-end & Affordable
2,000
slight increase
1,000

0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Luxury & High-end
2016 2017 2018 2019 achieved new high

High-end Mid-end Affordable

CBRE definition: Luxury: > US$4,000 psm; High End: US$2,000 - $4,000 psm; Mid End: US$1,000 - $2,000 psm; Affordable: < US$1,000 psm (exclude VAT and quote on NSA)

Note: (1) Includes only units subject to retail sales

32
Market Summary for 1H2019
HCMC – supply and demand
Market Summary for 1H2019
No. of units
10,000
7,500 Launched units: 8,547
5,000 -42% yoy
2,500
Sold units: 10,500
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 inventory

2017 2018 2019

Launched units Sold units 88% Sold out in newly
(1) (1) launched projects
HCMC – pricing

Price (USD/m2)
7,000
6,000
5,000
4,000 prices increase across
3,000 all segments due to
2,000 restricted supply
1,000
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2017 2018 2019
Luxury High-end Mid-end Affordable

CBRE definition: Luxury: > US$4,000 psm; High End: US$2,000 - $4,000 psm; Mid End: US$1,000 - $2,000 psm; Affordable: < US$1,000 psm (exclude VAT and quote on NSA)

Note: (1) Includes only units subject to retail sales

33
Vinhomes: Not Just a Homebuilder but a Community Creator

Ecosystem of Complementary Products and Services At Each Site

where happiness lives

Retail / Hospitality /
#1 dominant integrated Office Medical School Entertainment

Residential
residential and commercial • Vinhomes • Vincommerce • Vincom Center • Vinmec • Vinschool • 5-star Vinpearl
developer Central Park: Central Park Central Park K-12 education Hotel Landmark
− 7 VinMart + International 81
− The Central • Landmark 81 Hospital
Central − 1 VinMart commercial − 223 hotel
Park − The Park space rooms
Ecosystem of

(HCMC)
complementary consumer − Landmark 81
service offerings at − c.11,000 units
each project

Active in mega project

 developments and pioneers
in partnerships with sub- • Vinhomes • Vincommerce • Vincom • Vinmec Times • Vinschool • Vinpearl Land
Times City & Mega Mall City International Kindergarten Aquarium Times
developers on projects Park Hill − 6 VinMart + Times City Hospital City
− 5 schools
Times − c.13,000 units − 1 VinMart • Vincom Office
City Times City • Vinschool
(Hanoi) Elementary,
Nation-wide operation and Secondary and
High School
 first mover advantage in
several second-tier cities
and satellite project
developments

34
Continued Support from Customers and Mortgage Lenders

Proportion of sold units with a mortgage was 55% on average

(cumulative for all projects sold by Vinhomes as of June 30, 2019)

FOREIGN BUYERS(1) MORTGAGES

9% 55%

• Projects with highest number of sold units with a mortgage were

Percentage of Vinhomes The Vinhomes Vinhomes
Project Selling points Harmony Star City Ocean Park
foreign buyers
Vinhomes Golden River is constructed Percentage (%) 68% 70% 64%
along the Saigon river, in the heart of
Vinhomes
District 1. The area is expected to
Golden River 30.0%
(HCMC)
become home to new office • Proportion of sold units with a mortgage depends on clients’
skyscrapers, commercial centers, and preferences, locations and sales policy
Percentage of foreign buyers declined by 127 bps from 31 Dec 18 because buyers of
beautiful riverside walks.
Vinhomes Sapphire apartment units are mostly domestic buyers
• Vinhomes homebuyers often enjoy favorable interest rates relative to
Situated in the West of Hanoi,
the market thanks to good relationships between Vinhomes (as the
Vinhomes Vinhomes West Point has been
West Point developed to set a new standard of 24.5% project developer) and large banks
(Hanoi) living, with its harmonious combination • Interest supports offered to homebuyers by developers for 18 to 24
of water, trees and “All-in-one” facilities.
months, and a grace period for principal payments during the period of
A mixed use development in Nam Tu interest support
Vinhomes Liem new administrative area of Hanoi.
Skylake It is adjacent and looks over the 32- 12.6% • Vinhomes Ocean Park and Vinhomes Smart City buyers can take
(Hanoi) hectare Cau Giay park, with 19-hectare out a mortgage of up to 35 years.
water surface reservoir

Note: (1) For all units sold in Vinhomes projects from the incorporation of the residential business in Vingroup until 30 June 2019, excluding projects launched before 2015 (i.e. Vinhomes Royal City and Vinhomes Times City)

35
Valuable Land Bank Proximate to Upcoming Metro and Highway Infrastructure
Significant boost in connectivity will accelerate demand for pipeline projects

Ho Chi Minh City Hanoi

New Eastern Bus Station

Project F

Suoi Tien Long Binh

Project D
Depot
Hi-Tech Park
Thu Duc District 251 ha

Thu Duc Vinhomes Vinhomes

Grand Park Project E Riverside
Project G
Go Vap
Vinhomes
District Binh Tho District 9 Metropolis CBD Vinhomes
Vinhomes Skylake Vinhomes Nguyen Chi Thanh The Harmony
Phuoc Long
Bin Thanh Vinhomes Project A
Phu Nhuan District Project
B West Point Vincom Ba Trieu
District Rach Chiec
New Port Vinhomes Vinhomes
Vinhomes Times City
Van Thanh An Phu Green Bay Royal City
Thao Dien Project C
District 3 CBD Vinhomes Central Park Vinhomes Project C Project B
Smart City Vinhomes
Vinoffice Dong Khoi
Opera House District 2 Ocean Park
Ba Son
Ben Thanh
Project A District 1 Vinhomes Golden River

Project H

Vinhomes Properties City Centre Vinhomes Properties City Centre

HCMC Metro Line 1 Upcoming Metro Lines Under development and pipeline Upcoming Hanoi Metro Lines Under development and pipeline
(before 2030)

Source: CBRE, Company Information.

36
Case Study: Vinhomes Competitive Positioning

Vinhomes mega projects well poised for future growth given unrivalled brand equity and positive spill-over effects

Vinhomes Properties Command a Premium Over Comparable Hanoi Projects … Validated through
Assessment by International
Experts
Vinhomes Ecopark – Ecopark – Hanoi Garden – Northern Gamuda –
Ocean Park Palm Forest AquaBay Canal Park Diamond Zen Residence
Int’l
Unit Size • 28 - 76 • 71 - 91 • 47 - 109 • 86 - 184 • 94 – 107 • 52 - 106 1 #1
Broker 15% higher ASP than peers(1)
(sqm / unit) (1 - 3 BRs) (2 - 3 BRs) (1 - 3 BRs) (2 - 3 BRs) (1 - 3 BRs)

ASP • - • 906 • 1,004 • 773 • 1,124 • 1,167

(US$ / sqm) • Vinhomes Ocean Park able to sell at a premium
due to:
Developer • Vinhomes • Vihajico • Vihajico • Berjaya – • Incomex • Gamuda
− Reputation of Vinhomes as a developer
Handico12 Land
− Scale / amenities
Other Factors as Compared to Vinhomes
− Construction quality
Location, • ▼ • ▼ • ▲ • ▲ • ▲
Accessibility,
Infrastructure
Developer • ▼ • ▼ • ▼ • ▼ • ▼ Int’l
1 #2
Broker 10 – 15% higher ASP than peers(1)
Scale / • ▼ • ▼ • ▼ • ▼ • ▼
Amenities
Construction • -- • -- • ▼ • ▼ • -- • In Hanoi, Vinhomes’ projects can achieve a
Quality much higher ASP
Unit Size • ▲ • ▲ • ▲ • ▲ • ▲
Management • -- • -- • ▼ • ▼ • ▼
Company


• Unrivalled brand equity driving steady customer demand

• Unique integrated ecosystem offering of complementary suite of amenities / facilities

Source: Company, Int’l Broker #1, Int’l Broker #2 (names to be revealed subject to clearance)
Note: (1) Refers to surrounding comparable projects.

37
Infrastructure Development Underway
Visible and meaningful progress on infrastructure developments will boost real estate capital values
Vinhomes Projects in Close
Proximity
Development Status
Other Commentary
Source: Company, CBRE.
38
and greatly increase connectivity for Vinhomes projects
Hanoi
Road Metro Line # 2 Metro Line # 3
Expansion Cat Linh – Ha Dong Nhon – Hanoi Station
• Vinhomes Riverside • Vinhomes Galaxy • Vinhomes Metropolis
• Vinhomes The Harmony • Vinhomes Gallery • Vinhomes Gallery
• Vinhomes Times City
• Vinhomes Royal City
• Vinhomes Ocean Park
• Various projects under construction • Construction completed • About 45% completed
include elevated Ring road #2, • Trial run began in July 2018
segments of Ring road #3,
overpasses in CBD areas
• Commercial operation to start by 2023
• Projects under development include
Ring road #3.5 and #4
• Overall improvement to Vinhomes
projects from enhanced infrastructure
Infrastructure Development Underway

Visible and meaningful progress on infrastructure developments will boost real estate capital values
and greatly increase connectivity for Vinhomes projects

Quang Ninh HCMC

Van Don – Mong Cai HCMC – Moc Bai highway Metro Line # 1 Connecting the
highway Ben Thanh – Suoi Tien Old to the New City
Vinhomes Projects in • Vinhomes Green Ha Long • Vinhomes Golden River • Vinhomes Golden River • Central Park
Close Proximity • Vinhomes Central Park • Vinhomes Central Park • Golden River
• Leman Golf
Development Status • Expected completion in 2021 • Expected approval in 2020 • About 56% completed • Projects under development
• Expected completion in 2025 include
Metro Line #2, Thu Thiem 4
bridge
• Commercial operation to
start by 2021
Other Commentary • Overall improvement to • Overall improvement to • Key projects improving
Vinhomes projects and local Vinhomes projects and local infrastructure to and within
economy from enhanced economy from enhanced District 2 (the new city)
connections connections include Thoi Dai bridge
(completed), My Thuy
Intersection (completed),
Metro Line #1 (under
construction)

Source: Company, CBRE.

39
Low Risk Capital Effective Business Model

Vinhomes Property Development Business Model and Payment Schedule

Preparation of Construction
Unit
Site for Completion
Construction
Construction and Handover

Preparation Marketing Execute Purchase

Pre-sales Handover
of Projects Process Commence Confirmation

Strong Management of Default Risk  95% of purchase

price must be
 Majority of units are pre-sold immediately after land clearance has completed and
paid before
project construction has broken ground Collection of cash being issued the
 Presale customers required to make down payment of approximately 30% of total based on the land use right
purchase price (for Vinhomes Ruby and Vinhomes Diamond properties) or 10% (for construction certificate (LURC)
Vinhomes Sapphire properties) process
(totaling up to 70%  Full payment will
 Upfront payments from majority Vinhomes customers, typically c.70% of total of purchase price) be collected
purchase price when sales contract is signed(1) thereafter

Note: (1) Based on sales of launched projects through 31 December 2017.

40
 where happiness lives

Investor Relations Department

Headquarters: No.7, Bang Lang 1, Vinhomes Riverside, Viet Hung Ward, Long Bien District, Hanoi, Vietnam
Tel: +84 (24) 3974 9999 ext. 9594 Website: http://ir.vinhomes.vn/en
Fax: +84 (24) 3974 8888 E-mail: ir@vinhomes.vn