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Vietjet Aviation Joint Stock Company Q2/2021 Presentation Aug 2021 Disclaimer VietJet Aviation Joint Stock Company Q2/2021 Presentation Aug 2021 Disclaimer INFORMATION CONTAINED IN OUR PRESENTATION IS INTENDED SOLELY FOR YOUR REFERENCE. SUCH INFORMATION IS SUBJECT TO CHANGE WITHOUT NOTICE, ITS ACCURACY IS NOT GUARANTEED AND IT MAY NOT CONTAIN ALL MATERIAL INFORMATION CONCERNING THE COMPANY. NEITHER WE NOR OUR ADVISOR MAKES ANY REPRESENTATION REGARDING, AND ASSUMES NO RESPONSIBILITY OR LIABILITY FOR, THE ABILITY, THE ACCURACY OR COMPLETENESS OF, ANY ERRORS OR OMISSION IN, ANY INFORMATION CONTAINED HEREIN. IN ADDITION, THE INFORMATION MAY CONTAIN PROJECTIONS AND FORWARD-LOOKING STATEMENT THAT REFLECTS THE COMPANY'S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND FINANCIAL PERFORMANCE. THESE VIEW ARE BASED ON CURRENT ASSUMPTIONS WHICH ARE SUBJECT TO VARIOUS RISK FACTORS AND WHICH MAY CHANGE OVER TIME. NO ASSURANCE CAN BE GIVEN THAT FUTURE EVENTS WILL OCCURS, THAT PROJECTIONS WILL BE ACHIEVED, OR THAT COMPANY ASSUMPTIONS ARE CORRECT. ACTUAL RESULT MAY DIFFER MATERIALLY FROM THOSE PROJECTED. THIS PRESENTATION IS STRICTLY NOT TO BE DISTRIBUTED WITHOUT THE EXPLICIT CONSENT OF THE COMPANY'S MANAGEMENT UNDER ANY CIRCUMSTANCES. Agenda A MARKET OVERVIEW B KEY HIGHLIGHTS C KEY OPERATING PERFORMANCES D KEY FINANCIAL PERFORMANCES E PRODUCT & SERVICES, EVENTS & AWARDS F STRATEGIC PLAN Global Airline Traffic Recovery Positive expectations for Vietnam airline traffic recovery VA recent Fitch Ratings report highlighted that Vietnam is the only country expected to recover up to 90% of its baseline airline traffic among the ASEAN countries. Passenger traffic in key APAC markets, with the exception of China and Vietnam, is expected to remain well bellow 2019 levels in 2021. There has already been a rapid recovery in traffic in China, which should continue absent another wave of the pandemic and there was low incidence of infection in Vietnam. APAC’s pace of recovery hinges on each market’s relative success in controlling the virus, improvements in passenger confidence and limiting further travel restrictions, and airline’s share of international traffic, which we expect to remain weaker than domestic volume. 3 The ASEAN’s High Potential Middle – Income Segment Vietjet as an LCC aims at targeting the emerging middle-class segment of the ASEAN region Number of households by annual income Change in no. of households 36mn 45mn 11mn new high and upper- middle income households in High (>USD 25K) 5M 8M +3M developed ASEAN. 13 Upper-mid (USD 10K-25K) +8M 1 in 2 households M 21M today 13 Developed Lower-mid (USD 5K-10K) 14M +1M 64% of households by M 2030 Low (<USD 5K) 5M 3M -2M Low-income households down by 40% by 2030. 2019 2030F Number of households by annual income Change in no. of households 36mn 45mn 10 27mn new high and upper- High (>USD 25K) +6M 4M M middle income households in emerging ASEAN. Upper-mid (USD 10K-25K) 26M 21M +21M 1 in 4 households today Emerging Lower-mid (USD 5K-10K) 46M 55M +9M 1 in 2.6 households by 2030 Low (<USD 5K) 51M 41M -10M 10 million fewer low-income 2019 2030F households by 2030 4 Vietnam Airport Infrastructure Improving airport infrastructure with more destinations and capacity Airport Masterplan 2014 2020 2030 Lao Cai Airport (Cam Con Commune) # of Airport 22 26 N/A Passenger Capacity 51 62 - 106 132 Dien Bien Phu Airport Noi Bai International Airport (Hanoi) (million pax) Nà Sản Airport (Son La) Quang Ninh International Airport Cat Bi International Airport (Hai Phong) Cargo Capacity (million ton) 0.87 > 2 3.2 Tho Xuan Airport (Sao Vang) Vietnam’s Population (million) 91.7 97.3 104.2 Vinh Airport Key Projects ▪ 2nd largest airport in Vietnam and the gateway to the North Noi Bai Dong Hoi Airport ▪ International terminal T2 annual pax capacity of 10m, running at 60% International utilization rate Hoang Sa Airport ▪ Terminal T1’s capacity upgraded from 9m to 15m by 2018 Phu Bai International Airport (Hue) Cat Bi ▪ Served Hai Phong area and nearby provinces with 2 runways Da Nang International Airport currently, nearly 80% ultilsation rate International Chu Lai International Airport ▪ Ongoing second phase of expansion to increase annual pax capacity Airport to 4-5m ▪ Serve Da Nang area and nearby provinces with 2 runways and 1 Pleiku Airport Da Nang Phu Cat Airport (Qui Nhon) international terminal, ~ 85% ultilation rate International ▪ A second terminal is expected to open in 2020, which will increase Airport the annual pax capacity from 6m to 10m Dong Tac Airport (Tuy Hoa) Buon Ma Thuot Airport Cam Ranh ▪ Key tourism hub that feeds into Nha Trang and Phan Thiet areas, the Cam Ranh International Airport (Nha Trang) fourth largest airport in Vietnam, running at 138% ultilisation International Lien Khuong International Airport (Da Lat) ▪ To build a second runway and a new terminal by 2020, expanding Airport annual pax capacity from 1.6m currently to 2.6m in 2020(3) Tan Son Nhat Airport (Ho Chi Minh City) Truong Sa Islands ▪ The largest airport in Vietnam and the main international gateway to Can Tho International Airport Vung Tau Airport Tan Son Nhat Vietnam, running at 110.2% ultilisation. Phu Quoc International Airport Long Thanh International Airport (Dong Nai) International ▪ To be expanded with a total investment of ~$283m, increasing Rach Gia Airport Airport annual pax capacity from 20m to 25m by 2020 and 40m by Cà Mau Airport 2025.Terminal 3 is plan for executing. Con Dao Airport (Con Son) ▪ New international airport (4F standard by ICAO) for HCMC, operational Long Thanh by 2025 Existing airports International ▪ Annual pax capacity of 25m post completion of Phase I, total annual Existing airports to be upgraded/restored Airport pax capacity of 100m after 3 phases New Airport ▪ Phase I investment of $5.45bn is starting now and total investment of $16bn 5 Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific Dominant growth in airline take offs and inbound tourism pre-covid 19 in the region Strong airline take-offs performance in Asia Pacific Remarkable inbound tourism growth in SEA Historical number of airline takeoffs domestically Total tourist arrivals CARG%(2015-2019) CARG% (2015-2019) 25.0% -3.1% Philippines 22.7% Asia Pacific -0.1% New Zealand Avg.: 8.7% 20.0% Australia 0.3% Malaysia 0.9% Japan 1.6% 15.0% 12.5% Singapore 4.2% 12.0% Korea 5.1% 10.0% Thailand 6.0% 7.5% China 8.4% 5.8% 5.0% Indonesia 10.0% Vietnam 10.8% 0.4% India 12.9% 0.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% Vietnam Philippines Indonesia Thailand Singapore Malaysia Source: Euromonitor, BMI 6 Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific Vietnam is backed by strong fundamentals Strong economic growth and favourable demographic structure support LCC market in future years Large population to reach With the highest real GDP per capita CAGR One of the highest in Private final consumption 97.3 million in 2020 (2020-2025F) in the region CARG (2020-2025F) in the region 10.0% 8.9% 9.0% 8.5% + 9.0% 5.6% 7.4% 8.0% Young population with a 5.0% 7.0% sizable 25.9% between 20 7.0% and 34 years of age 3.9% 6.0% 5.3% 3.4% 3.1% 5.0% + 2.6% 4.0% Average 3.9 % 3.0% High growth in personal 2.0% disposable income 1.0% 0.0% + Singapore Thailand Malaysia Indonesia Philippines Vietnam Thailand Singapore Philippines Malaysia Vietnam Indonesia Lengthy topography lacking effective road / rail connectivity Disposable Income per Capita CAGR (%) Number of Aircraft per million of people (2020) + (2020-2025F) in the region 10% Number of 224 211 7,696 589 783 267 593 202 50 Low air travel penetration aircrafts 9% 35.17 36.00 + 8% 31.00 7% 24.75 Growing tourism industry Large 26.00 upside 22.65 potential with 6% 21.00 low LLC concentration + 16.00 5% 11.51 Emergence of LCC as an 11.00 affordable option 4% 6.00 3.81 2.31 2.16 1.85 0.93 3% 1.00 40% 45% 50% 55% VN SG US AU UK TH ID PH MY Large LCC market with (4.00) significant growth %Population in Workforce 2020 (%) opportunities Source: BMI, Euromonitor 7 Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific Allowing air travel to become a more accessible and efficient mode of transportation Air travel is the most efficient means of transportation in Vietnam Travel is substantially faster and more efficient by air compared to bus and rail as a result of Hanoi Vietnam’s terrain. For example, a flight from HCMC to Hanoi takes c.2 hours compared to c.34 – 35 hours for bus and rail Hai Phong As income levels rise and air fares decrease, people are expected to continue to switch from Thanh Hoa bus and rail to air travel Vinh Low cost air travel has also made flying a viable option for the masses Dong Hoi With more than 40% of the population in the 25-59 years working class age band and Hue increasing inter-city travel demand as the national economy develops, air travel is expected Da Nang to gain in popularity and prevalence over other modes of transport Chu Lai Air travel is the most cost effective mode of transportation(1) Pleiku Quy Nhon HCMC – Hanoi HCMC – Danang Buon Ma Thuot Travel Tuy Hoa modes Time (hrs) Fare (VND) Fare (USD) Time (hrs) Fare (VND) Fare (USD) Da Lat Nha Trang (2) Air 2:05 961,000 44(3) 1:20 615,000 28(4) Phu Quoc Bus 35:00 861,385 39 15:30 405,458 19 HCMC Rail 34:00 1,066,278 49 17:00 616,833 28 Can Tho Stimulates airline travel and captures market share from other modes of transport such as bus and rail due to the advantages of air travel vis-à-vis land transport Source: SAP Independent Industry Report, IMF; Note: (1) Bus and rail fares shown are based on average fares for travelling on 1 Mar 2016 and 1 Apr 2016, as of 1 Feb 2016; US$1:VND 21,890, (2) Airfare refers to average 8 VietJet ticket base fares for FY2015, (3) Base airfare excludes other ancillary fee of USD8.3; total gross fare of USD52.3, (4) Base airfare excludes other ancillary fee of USD7.4; total gross fare of USD35.4 Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific Domestic market leader in Vietnam with strong government support “Viet Nam regards the private sector as a development force” –Mr.
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