VietJet Aviation Joint Stock Company Presentation

Oct 2018 Company Overview

(4) Ranking Vietjet Ranking Vietjet Business Description Pax Market Share vs. VN carriers vs. all carriers

21.0% 1 1 Having commenced operations in December 2011, VietJet had grown rapidly to become the largest 46.9% 18.3% in after only 4 years of operations, commanding a market share of 45% and 43% by 42.9% 2 3 passenger count and capacity(5) respectively 14.2% 35.3% 2 5 Operating revenue CAGR was at 43% over 2015-17, while profitability has remained best-in-class (1) 4.9% with adjusted EBITDAR margin of 32.7% in 2017, compared to peer average of 27%-28% 35.0% 2 5 Went public in the country’s then-largest IPO in Feb 2017, with market capitalization having tripled 27.4% 27.4% 2 2 since then to reach ~USD 3.0bn 16.2% 49.6% 1 One of the most efficient in the world with CASK 4.25 cents in 9M2018, RASK-CASK 0.63 1 10.3% cents, CASK Ex Fuel 2.37 cents. 15.2% 2 3 One of the youngest and fastest growing fleets in the world, further sustained by a large order book 6.2% 21.1% 3 7 of 371 aircraft to be delivered by 2025(3) 33.3% 49.6% 1 1 Load factor remains at 89% , amongst the highest in Asia Pacific, despite aggressive growth 45.0% 45.0% 1 1 MS Vietjet vs. all carriers MS Vietjet vs. Vietnamese Strong Projected Passenger Growth Growing Fleet supported by Orderbook Domestic Market Share(5)

(millions of passengers) (# aircraft) By Passenger Count 66 Jetstar Others 70 30 Pacific 2% 15%

60 11 VietJet 25 24 45% FY12-18 FY12-18e 50 CAGR: 53.7% 20 CAGR: 69.8% Vietnam Air 17 40 13 2H18e 38% 15 14 30 55 By Capacity 50 Jetstar Others 10 9 Pacific 2.2% 20 41 15.0% 6 30 VietJet 11 1H18 44.8% 5 3 10 19 1 10 5 - Vietnam - FY12 FY13 FY14 FY15 FY16 FY17 FY18e Air FY12 FY13 FY14 FY15 FY16 FY17 FY18 38.0%

Source: Company Information, CAPA; Note: (1) Excludes revenue and cost relating to sale-and-leaseback, (2) Lease adjusted, (3) As of 30 Jun 2018, (4) CAAV data as at H12018, (5) CAAV data for H1 2018 1 Route network map

Source: Company Information 2

Source: Company Information. As at August 31st, 2018 Vietjet operates 101 routes out of which 38 domestic and 63 international routes Business Highlights

1 Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific

2 Young fleet with large growing order book

3 Best-in-class cost structure with strong operational performance

4 Excellent financial performance

5 Significant ancillary revenue upside

6 Strong brand recognition

7 Experienced leadership team Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific 1 Highest growth in air passenger traffic and inbound tourism

Air passenger traffic growth Inbound tourism growth(1)

2012-2017 Historical Passenger Traffic CAGR (%) 2012-2017 Inbound Tourism CAGR (%)

Vietnam 28.9% 8.7% 8.6%

China 11.5%

Thailand 11.1% 6.9% 6.5% South Korea 10.4%

India 10.1%

Malaysia 8.1%

New Zealand 5.9% 3.1%

Philippines 5.0% 2.0% Indonesia 4.2%

Singapore 3.9%

Australia 2.5% Asia Pacific Avg.: 8.7% Vietnam Thailand Philippines Indonesia Singapore Malaysia Japan 2.2%

Source: Euromonitor, EIU; Note: (1) Refers to number of non-resident visitors who travel to the country for a period not exceeding 12 months for non-commercial related activities 4 1 Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific Vietnam is supported by strong fundamentals

(1) Large population estimated One of the fastest growing SEA economies A powerful consumer economy to reach 96.5 million in 2018 (2016-2018e GDP CAGR) Highest forecasted growth in personal disposable income

+ 8% 8.0% 6.7% 6.7% Young population with a 7% 7.0% sizable 25.9% between 20 6% 5.6% 6.0% and 34 years of age 5.2% 5% 5.0% + 3.9% 4% 3.3% 4.0% 3% High growth in personal 3.0% 2018e Disposable Income 2018e Disposable Income

disposable income (%) per Capita CAGR 2% - 2.0% 1% 2012 + 1.0% - Lengthy topography lacking VN PH MY ID TH SG - effective road / rail 40% 45% 50% 55% 60% 65% connectivity % of Population in Workforce (%) + Demonstrated growth in private consumption Large upside potential with low LCC penetration

Low air travel penetration (2012-2018e private consumption per Capita) LCC Seats / 383 4,627 1,901 1,103 2,729 1,746 1,018 379 335 8% ‘000 6.9% people + 7%

6% 45 Growing tourism industry 38.8 40 5% 35 28.8 4% # 30 25.9 + 3.0% aircraft / 2.9% 25 3% million 2.0% people 20 Emergence of LCC as an 14.9 2% 1.6% 15 affordable option 9.5 10 1% 0.6% 4.7 5 1.7 2.6 2.1 - - VN MY PH TH ID SG VN SG AU US UK MY TH ID PH Large LCC market with significant growth opportunities

Source: EIU, CAPA, Euromonitor; Note: (1) Population size is proportional to size of country flag 5 Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific 1 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 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 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)

(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 6 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 1 Significant government support – US$10.5bn investment to develop infrastructure across the country

Air transport master plan

Lao Cai Airport 2014 2020 2030 (Cam Con Commune) # of 22 26 N/A Dien Bien Phu Airport Noi Bai International Airport (Hanoi) Nà Sản Airport (Son La) Quang Ninh International Airport Passenger 62-106 51m(1) 132m(3) Cat Bi International Airport (Hai Phong) capacity m(2) (Sao Vang) Cargo capacity 0.87m(1) >2m(2) 3.2m(3) (ton) Vinh Airport Key projects

. 2nd largest airport in Vietnam and the gateway to the North Noi Bai . International terminal T2 began operations in Dec 2014 with annual pax capacity of 10m, running at 60% ultilisation rate Hoang Sa International Phu Bai International Airport (Hue) Airport . Announced upgrade of domestic terminal T1 in Dec 2015, to increase T1’s capacity from 9m to 15m by 2018 Da Nang International Airport Cat Bi . Largest airport servicing the Hai Phong area and nearby provinces with 2 runways currently, nearly 80% ultilsation rate Chu Lai International Airport International . Ongoing second phase of expansion to increase annual pax Airport capacity to 4-5m Pleiku Airport (Qui Nhon) Da Nang . Largest airport servicing the Da Nang area and nearby provinces with 2 runways and 1 international terminal, ~ 85% ultilation rate International . A second terminal is expected to open in 2020, which will Dong Tac Airport (Tuy Hoa) Airport increase the annual pax capacity from 6m to 10m Cam Ranh International Airport (Nha Trang) . Key tourism hub that feeds into Nha Trang and Phan Thiet areas, Cam Ranh the fourth largest airport in Vietnam, running at 138% ultilisation Lien Khuong International Airport (Da Lat) International . To build a second and a new terminal by 2020, Tan Son Nhat Airport ( City) Truong Sa Islands Airport expanding annual pax capacity from 1.6m currently to 2.6m in 2020(3) Can Tho International Airport . The largest airport in Vietnam and the main international gateway Phu Quoc International Airport Long Thanh International Airport (Dong Nai) Tan Son Nhat to Vietnam, running at 110.2% ultilisation Rach Gia Airport International . To be expanded and upgraded with a total investment of Cà Mau Airport Airport ~$283m, increasing annual pax capacity from 20m to 25m by (Con Son) 2020 and from 25m to 40m by 2025 . New international airport (4F standard by ICAO) for Ho Chi Minh Existing airports Long Thanh City, operational by 2025 Existing airports to be upgraded/restored International . Annual pax capacity of 25m post completion of Phase I, total New Airport Airport annual pax capacity of 100m after 3 phases . Phase I investment of $5.45bn and total investment of $16bn (1) Based on the passenger and cargo volume in ACV (Airports Corporation of Vietnam) report of 2014 (3) Based on the Air transport master plan which was approved by Prime Minister under Decision 21 dated 8 January 2009 (Air traffic (2) Based on Decision No. 355/QD-TTg dated 25 February 2013 of the Prime Minister approving the adjusted strategy for infrastructure current status and impending changes, Vietnam – 2014, by Freshfields Bruckhaus Deringer) development of Vietnam’s transport through 2020, with a vision toward 2030 7 Source: Mink Khue Law Company Limited, Freshfields Bruckhaus Deringer, CAAV, CAPA, Wikipedia, Public news Largest domestic airline in Vietnam, the fastest growing aviation market in Asia Pacific 1 Domestic market leader in Vietnam with strong government support “Viet Nam regards the private sector as a development force” –Mr. Nguyen Xuan Phuc, Prime Minister

Largest airline in Vietnam by capacity(1) Key government incentives to support VietJet

70% US$10.5bn commitment to develop airport infrastructure Air Transport . across the country, increasing the number of operational Masterplan 60% airports from 22 to 26 by 2020

50% 44.8% 39.6% 36.6% Changes in regulations to support the airline industry 40% 31.4% 31.4% Reduction in 30% 24.7% Petrolimex Aviation JSC (Petrolimex Aviation) was permitted Fuel . 17.8% to supply air fuel in August 2009, ending monopoly by Supply 20% Skypec, a owned company Monopoly 10% Others . Only CAAV / MOT approval (as opposed to PM’s previously) - would be required for the first-time transfer of shares to 2012 2013 2014 2015 2016 2017 Aug 18 Decree 92 on foreign shareholders, opening the door for investor transfer of participation in airlines shares in Highly concentrated domestic markets, effectively a duopoly However, investment opportunities in Vietnamese airlines are airlines to . limited as the remaining 3 airlines are state-owned Vietnam domestic market share % air passenger volume(2) foreigner . Foreign ownership limit at 30% and largest shareholder must be Vietnamese 2% 15% Changes in regulations to support the airline industry

45% Historically . Two other domestic airlines in the past went bankrupt struggled (Mekong Air and Indochina Airlines) and their licenses have airlines been withdrawn

. Although the Government is open for new entrants, no new 38% airlines entered the market since 2011 Potential new entrants . No foreign airline is permitted to operate domestic routes,  Minimal foreign competition as no foreign airlines permitted to operate which allows local airlines like VJC to enjoy the growth of domestic routes local market

Source: CAPA, SAP independent industry report; CAAV, Ministry of Transportation Republic of Indonesia, Civil Aviation Authority of the Philippines, Department of Civil Aviation (DCA) of Thailand, Axis Research Ltd. report 8 dated July 2015; Note: (1) Market share by capacity as of week commencing 31 Dec 2012, 30 Dec 2013, 29 Dec 2014, 28 Dec 2015, 26 Dec 2016, 25 Dec 2017 and 27 Aug 2018 respectively, (2) CAAV data: Passenger Market share for H1 2018 Young fleet with large growing order book 2 Young, modern and fuel efficient fleet, driving lower maintenance & fuel cost in the long term

Significant fleet growth with sizeable order book

(# aircraft) 140 126 2017-2023e CAGR 30.1% 120 114 102 100 90 78 80 66 60 50 40

20

0 FY17 FY18 FY19 FY20 FY21 FY22 FY23

Young fleet (average age of aircraft fleet)

2.95 2.75

FY2017 9M2018

Source: Company Information; Note: (1) Based on latest reported financial year 9 3 Best-in-class cost structure with strong operational performance Amongst the lowest unit costs in the world

CASK ex-fuel(1) (USD cents / ASK)

2.43

2.37

2.32

FY2016 FY2017 9M2018 There is still headroom for cost structure improvement to further decrease both CASK & CASK ex-fuel

A Advantages from major contracts B Key cost-reduction measures

 The scale of VietJet’s contracts with major aircraft and engine manufacturers such as Airbus, Boeing,  VietJet plans to operate ground handling services to CFM and P&W result in greater bargaining power and more advantageous contracts reduce outsourcing and therefore ground handling costs  Advantages from large scale contracts include favorable deposit payments and payment terms and  VietJet is in the process of upgrading its in-house the advantageous contracts give VietJet a structural cost advantage by reducing the overall costs maintenance team which is expected to reduce costs for associated with the acquisition, maintenance and operation of its aircraft – for instance, VietJet the company benefits from training, technical and financial support and commitment from both Airbus and Boeing  Implement fuel savings programme by cooperating with  Large aircraft orders will result in lower cost of aircraft ownership and maintenance from 2015, and CFM and P&W lower fuel costs as new, more fuel efficient aircraft enter fleet

Source: Company Information; Note: (1) CASK based on operating costs (excluding finance costs), (2) Based on latest reported financial year 10 3 Best-in-class cost structure with strong operational performance Highest RPK growth & consistently high load factor

RPK: RPK: RPK: RPK: 9,690m 14,451m 20,585m 20,368m (1) RPK Growth(%) (%) (2) enger Factor Pass Load

Source: Company Information; Note: (1) Revenue Passenger Kilometers: number of revenue-paying passengers aboard multiplied by the distance traveled, (2) Passenger load factor calculated based on total passengers 11 carried divided by total available seats, (3) Based on latest reported financial year 3 Best-in-class cost structure with strong operational performance Efficient financial and operational risk management

Fuel cost management and hedging

VietJet adopts a comprehensive fuel cost management program that include:

– Fuel efficient aircraft that can save up to 16% of consumption, plus fuel saving programs with support from Airbus and engine suppliers like CFM and P&W – Optimal selection and operational control of vendors and refueling locations as well as sales contracts with pricing caps Fuel hedging strategy has been developed and will be deployed by management anytime:

– Existing policy is to hedge 30% of annual consumption for 3-6 months

Stringent safety and security standards

IATA Operational Well-trained Aircraft Safety Audit highly professional crew safety features

VietJet is the first airline in Vietnam, that has Cabin crew in-house training programs approved VietJet’s Aircraft are equipped with high tech passed the IATA Operational Safety Audit by the CAAV and carried out by the VietJet safety equipment such as: (“IOSA”) Training Center – Instrument landing system (“ILS”) which IOSA is a safety certification awarded by IATA Ground-handling employees trained in civil assists pilots in the approach and landing following a highly comprehensive and stringent aviation regulations & emergency procedures Global positioning system (“GPS”) which feeds audit – VietJet’s engineers trained by Airbus under a navigational information to pilots and to the VietJet passed the internationally-recognized recurrent training program to ensure the fleet is control tower audit program in April 2018 always flight worthy – Traffic alert and collision avoidance system With support from Airbus, VietJet‘s flight training (“TCAS”) which alerts pilots to potential mid-air centre is able to host Airbus A320 Full-Flight collisions Simulator (“FFS”) to conduct flight crew training Enhanced ground proximity warning system for its A320 family fleet – (“EGPWS”) to help avoid collision with the ground In addition, VietJet also subscribes to various third-party services to enhance its aircraft communication and aircraft technical data capture capabilities

12 Excellent financial performance 4 Sustained growth in revenue and profitability

Total Revenue(1) Airline Revenue(2)

(VND bn) (VND bn)

2015-2017 2015-2017 CAGR: 46.0% CAGR: 43.4%

Total Net Income(3) Airline Net Income(4)

2015-2017 2015-2017 CAGR: 108.2% CAGR: 67%

Source: Company Information; (1) and (3): Consolidated Financial Statement; (2) and (4): Separate Financial Statement 13 Excellent financial performance 4 Profitability with consistent improvement in net margins

RASK, CASK, RASK-CASK YTD 9M.2018 VND VND VND VND (USD cent) 3,636bn 5,947bn 7,380bn 8,745bn

40% 37.4% 4.88 0.63 34.4% 32.8% 32.7% 4.25 30% (1) in ITDAR ITDAR

Marg 20% Adj. Adj. EB

10%

0% FY2015 FY2016 FY2017 9M2018 RASK CASK RASK-CASK

Revenue growth mainly driven by Steady decline of CASK with Steadily improving RASK minus increases in passenger volume and economies of scale and stringent CASK spread ancillary revenue per passenger cost controls

Source: Company Information; Note: (1) All margins based on financials adjusted for gains/losses from the sales of aircraft and total revenue less proceeds from sales of aircraft (Net Income adjusted to net off share of loss in 14 associates), (2) Based on latest reported financial year Significant ancillary revenue upside 5 Increase in Ancillary revenue per passenger, with potential upside supported by digital opportunities

Ancillary Revenue per Passenger (USD)

21.0 16.63 14.27 14.0 12.14 11.41

7.0

0.0 FY2015 FY2016 FY2017 9M2018

Ancillary Revenue as % of Adj. Revenue(1)

30% 24.9% 22.3% 22.3% 24.3% 20%

10%

0% FY2015 FY2016 FY2017 9M2018

Pre-flight purchases Inflight sales of such as seat selection, souvenirs, food priority services, and beverage, checked baggage, in duty free products flight services and travel and advertising insurance packages

Source: Company Information; Note: (1) Adj. Revenue refer to Total Revenue less proceeds from sales of aircraft, (2) Based on latest reported financial year 15 Strong brand recognition 6 Prominent Brand recognised as Best Ultra Low-Cost Airline in 2018

has a 96% brand awareness(1) in Vietnam with superior customer loyalty

A Prominent digital media presence enhancing awareness B Strong Brand Representation across various categories(2)

 Strong on-line presence across e-commerce platforms and  Inaugural winner of the Airlineratings.com Best Ultra Low-Cost popular social media outlets Airline (2018) Powerful omni-channel platform  Named as one of the world’s Top 3 fastest  Top 100 Best places to work in Vietnam (2014-2017) growing airline brands on Facebook by Socialbakers in August 2015, together with  Best Asian low Cost Carrier (TTG Travel Awards in 2015) Qatar Airways and Turkish Airlines  Top 3 airlines globally in terms of  Top 40 most valuable Vietnamese brands (2018) by Forbe Facebook’s post engagement rate (the other 2 being Eva Air and Japan Airlines) Top 10 reputated development company in Vietnam (2018)  ~3.1m users on Facebook (1H2018)   2.9m (1H2018) website visitors  Top 50 listing company in Vietnam (2018)  7.8m views on YouTube (1H2018)

C Highly innovative marketing campaigns D Blue-chip partners and co-branding

 Strategic partnerships with blue-chip, multinational enterprises  Focus on communicating directly with potential customers and globally emphasizing its low fares  Co-branding with various brands to enhance awareness,  Enhanced brand awareness through sponsorship of key local boosting ancillary revenue significantly through advertising campaigns Strategic partners Co-branding

Sponsor of the 2015 Southeast Asian Games

Source: Company Information, Axis Research; Note: (1) Based on Axis Research Ltd. report dated July 2015, VietJet had 96% brand awareness in Vietnam based on a survey with 1,136 randomly selected participants from 16 13 cities in Vietnam (2) Sources: Factiva, Nielsen, Vietnam Economic Times 7 Entrepreneurial and visionary management team with a proven track record

Highly experienced and visionary team with average of >20 years in domestic and international airline operations, having led VietJet to achieve consistent growth in market share since commencement

to achieve more than 35% domestic market shares or #1 domestic position

Mdm. Nguyen Thanh Ha Mdm. Nguyen Thi Phuong Thao Chairperson Vice-Chairperson & CEO Appointed Chairwoman of the Board in 2007 Appointed Standing Vice-Chairwoman of the Board of Directors in 2007 and is Company’s Chief Executive Officer Extensive aviation industry experience in Vietnam Vice Standing Chairwoman of HDBank Deputy Head of CAAV prior to joining the Company and was the head of Planning & Investment department at Significant experience in the managing large corporations in various Vietnam Airlines before joining CAAV economic sectors in Vietnam and abroad, especially in the banking- finance sector

Dr. Nguyen Thanh Hung Vice-Chairperson Appointed Vice Chairman of the Board of Directors in July 2007 Co-Founder and Chairman of Sovico Holdings Appointed ABAC (APEC Business Advisory Council) member by Prime Minister in 2006

Source: Company Information 17 7 Extensive support from a deep management bench

Board leadership is supported by a strong, diverse and deep management bench comprised of professionals with significant experience and expertise across industries, as well as capable mid-level managers with strong execution capabilities, which allows VietJet to achieve success in strategic planning and execution

Mr. Luu Duc Khanh Mr. Chu Viet Cuong Mr. Luong The Phuc Mr. To Viet Thang Managing Director Director VP of Training & Manpower VP of Operations, SSQA Appointed Managing Director in 2011 Director since 2011 and Chairman of the Director since 2011 and Vice President in Vice President of the Company and Vice Chairman of HDB and Chairman of Insurance Committee of the Company charge of Aviation Academy and training Director of SSAQ Vietnam Securities Investment Fund COO of Sovico Holding, Director of HDB & manpower for the Company Nearly 20 years of aviation industry 30 years of experience in management Expert in Banking and Insurance More than 30 years of experience in air experience force and airlines in Vietnam

Mr. Tran Hoai Nam Mrs. Ho Ngoc Yen Phuong Mrs. Nguyen Thi Thuy Binh Mr. Nguyen Thanh Son Vice President Vice President & CFO Vice President Vice President Vice President since 2015 Vice President cum CFO Vice President of the Company, manage & Vice President of the Company and Vast experience in banking and finance, Over 20 years of Leadership in Finance & give guidance policy and commercial and Commercial Director, development of especially in corporate customers’ field Accounting at large corporations in service activities, in charge of Thai Vietjet commercial and service activities and financial institutions industries such as Oil&Gas, Telecom, 15 years of experience working in the 20 years of experience in commercial of Construction, Manufacturing. communication industry in Vietnam international and domestic airlines

Mr. Nguyen Duc Thinh Mr. Dinh Viet Phuong Mr. Nguyen Duc Tam VP of Technical VP of Business Development Vice President Vice President in charge of Technical Vice President in charge of Business Development Joined the Company in 2007 and served as its first CEO 30 years of experience working in the Management experience in senior positions at More than 47 years of extensive experience in the aviation airline engineering industry reputable companies industry

Source: Company Information 18 Strategic Plan Strategy and future plans Target to position Vietjet as a high profile “consumer airline”

Increase depth and breadth of network, and focus on route profitability Strengthen leadership position as a Grow high-volume, short- and medium-haul route network in Asia, leading domestic carrier and grow Expand domestic and increasing international network from 56 routes to 100 routes by end of 1 international traffic by adding more international network 2020(1) short- and medium-haul routes Build franchise model with local partners and, if appropriate, join interline within Asia agreements with other airlines

Focus on ancillary revenue sales, particularly pre-flight and onboard purchases This is a key strategy to make Vietjet become a high profile “consumer Develop e-commerce solutions including tailored product packages, Drive ancillary revenue airline”. Increase proportion of high 2 comprising a combination of banking, airline and retail products, and growth margin ancillary services’ revenue create synergies to the whole group stream in line with other leading Leverage insights and data from e-commerce sales to develop unique, LCCs in the world tailored products

Build on high brand awareness and establish a reputation for excellent Continue to grow a loyal customer Strengthen the “VietJet” 3 customer service base and strengthen financial brand Build on strong risk and safety management systems and reputation performance

Finance aircraft through a mix of sources 4 Diversify sources of capital Access international capital markets and build relationships with Diversify funding platform international banks

Note: (1) Excluding charter services 20 Strategy and future plans (Cont’d) Target to position Vietjet as a high profile “consumer airline”

Increase aircraft utilization and actively manage fuel consumption and hedging strategy Focus on cost Maintain leading position in lowest management and VietJet is committed to operational safety with an emphasis on high tech unit-costs and best-in-class operational efficiency while safety features and regular maintenance 5 operational efficiency while retaining maintaining high standards Strict compliance with local regulations, international standards and commitment to high standards of of quality, safety and industry best practices quality, safety and security security Effectively manage inventory and labor force; fully leverage support from aircraft and engine OEMs, starting from 2015

Enhance recruitment and training programs, continue to implement good Build up international and corporate culture and foster next generation professional working environment, 6 Focus on human capital Continuously improve quality of training programs of VietJet Training and encourage creativity and Center and plans to implement VietJet Aviation Academy project as passion from staff profit center model

Plans to grow its fleet with new, fuel-efficient aircraft from the Airbus Expand and maintain a A320 and Boeing 737 families Optimize capacity, reduce cost per 7 young and fuel efficient seat and maintain competitive cost More than 100 new aircraft to be delivered between 2019 and 2023 fleet advantage Maintain a young, modern and fuel efficient fleet

Reduce operational costs, improve Invest in domestic airport Partner with local investors to invest and lease rights to operate 8 route scheduling and enhance passenger terminals terminals in key domestic hubs passenger service

21 Disclaimer

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NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, IS GIVEN AS TO THE ACCURACY, FAIRNESS OR COMPLETENESS OF THE INFORMATION OR OPINIONS CONTAINED IN THIS PRESENTATION, AND NO LIABILITY IS ACCEPTED FOR ANY SUCH INFORMATION OR OPINIONS BY THE COMPANY OR ANY OF ITS AFFILIATES, DIRECTORS, MEMBERS, OFFICERS, EMPLOYEES, AGENTS OR ADVISERS, OR ANY OF THEIR RESPECTIVE DIRECTORS, MEMBERS, OFFICERS, EMPLOYEES, AGENTS OR ADIVSERS. THIS PRESENTATION CONTAINS INFORMATION ABOUT THE MARKETS IN WHICH THE COMPANY COMPETES, INCLUDING MARKET GROWTH, MARKET SIZE AND MARKET SEGMENT SIZES, MARKET SHARE INFORMATION AND INFORMATION ON THE COMPANY'S COMPETITIVE POSITION. THIS INFORMATION HAS NOT BEEN VERIFIED BY INDEPENDENT EXPERTS OR ASSEMBLED COLLECTIVELY AND IS SUBJECT TO CHANGE, AND THERE IS NO GUARANTEE THAT THE INFORMATION CONTAINED IN THIS PRESENTATION IS ACCURATE OR COMPLETE AND NOT MISLEADING NOR THAT THE COMPANY'S DEFINITION OF ITS MARKETS IS ACCURATE OR COMPLETE AND NOT MISLEADING. THE INFORMATION INCLUDED IN THIS PRESENTATION IS CURRENT AS OF THE DATE HEREOF AND IS SUBJECT TO UPDATING, COMPLETION, REVISION AND AMENDMENT, AND SUCH INFORMATION MAY CHANGE MATERIALLY. NO PERSON IS UNDER ANY OBLIGATION TO UPDATE OR KEEP CURRENT THE INFORMATION CONTAINED IN THE PRESENTATION, AND ANY OPINIONS EXPRESSED IN RELATION THERETO ARE SUBJECT TO CHANGE WITHOUT NOTICE. THIS PRESENTATION SHOULD NOT BE CONSTRUED AS LEGAL, TAX INVESTMENT OR OTHER ADVICE. THIS PRESENTATION INCLUDES FORWARD-LOOKING STATEMENTS THAT REFLECT THE COMPANY'S INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. FORWARD-LOOKING STATEMENTS INVOLVE ALL MATTERS THAT ARE NOT HISTORICAL FACT. FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF WORDS INCLUDING “MAY”, “WILL”, “WOULD”, “SHOULD”, “EXPECT”, “INTEND”, “ESTIMATE”, “ANTICIPATE”, “PROJECT”, “BELIEVE”, “SEEK”, “PLAN”, “PREDICT”, “CONTINUE” AND SIMILAR EXPRESSIONS OR THEIR NEGATIVES. SUCH STATEMENTS ARE MADE ON THE BASIS OF ASSUMPTIONS AND EXPECTATIONS WHICH, ALTHOUGH THE COMPANY BELIEVES THEM TO BE REASONABLE AT THIS TIME, MAY PROVE TO BE ERRONEOUS. FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS, UNCERTAINTIES AND ASSUMPTIONS AND OTHER FACTORS THAT COULD CAUSE THE COMPANY'S ACTUAL RESULTS OF OPERATIONS, FINANCIAL CONDITION, LIQUIDITY, PERFORMANCE, PROSPECTS OR OPPORTUNITIES, AS WELL AS THOSE OF THE MARKETS IT SERVES OR INTENDS TO SERVE, TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN, OR SUGGESTED BY, THESE FORWARD-LOOKING STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE THOSE DIFFERENCES INCLUDE, BUT ARE NOT LIMITED TO: CHANGING BUSINESS OR OTHER MARKET CONDITIONS, GENERAL ECONOMIC CONDITIONS IN VIETNAM AND ELSEWHERE, AND THE COMPANY'S ABILITY TO RESPOND TO TRENDS IN ITS INDUSTRY. ADDITIONAL FACTORS COULD CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER MATERIALLY. THE COMPANY, ITS ADVISORS AND EACH OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES AND ADVISORS EXPRESSLY DISCLAIM ANY OBLIGATION OR UNDERTAKING TO RELEASE ANY UPDATE OF OR REVISIONS TO ANY FORWARD-LOOKING STATEMENTS IN THIS PRESENTATION, AND ANY CHANGE IN THE COMPANY’S EXPECTATIONS OR ANY CHANGE IN EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH THESE FORWARD-LOOKING STATEMENTS ARE BASED, EXCEPT AS REQUIRED BY APPLICABLE LAW OR REGULATION. THIS PRESENTATION IS HIGHLY CONFIDENTIAL AND CONTAINS PROPRIETARY AND CONFIDENTIAL INFORMATION ABOUT THE COMPANY. THIS PRESENTATION MATERIAL IS BEING PRESENTED SOLELY FOR YOUR INFORMATION AND MAY NOT BE COPIED, REPRODUCED OR REDISTRIBUTED TO ANY OTHER PERSON IN ANY MANNER.

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