VietJet Aviation Joint Stock Company Separate Financial Statemenls for the year ended 3l December 2018 VietJet Aviation Joint Stock Company Corporate lnformrtion Business Registrrtion 0103018458 23 July 2007 Certificate No. Corporate Registrrtion 0t02325399 l9 April 201I Certificate No. The Company's Corporate Registration Certificale has been amended t several times. the mosl recent of rvhich is by Corporate Registration Certificare No. 0102325399 dated I August 2018. The Business Registralion Certiflcate. lhe Corporate Registration Certificale and updales were issued by Hanoi Departmenl ofPlanning and Inveslmenl. lnveslment Regislrrtiotr 1357761115 30 December 2016 Certificrte No. The Investmenl Registrarion Certificate was issued by the Board of Managemenl of Saigon Hi-Tech Park and is valid for 50 years from the dale of lhe lnvestment Regisrration Ceaillcate. Board of }tanag€menl Nguyen Thanh Ha Chairwoman Nguyen Thi Phuong Ttao Vice Chai11|oman Nguyen Thanh Hung Vice Chairman Chu Viet CuonS Member Luu Duc Khanh Member Dinh Viel Phuong Member Board of Directors Nguyen Thi Phuong Thao ChiefExecutive Officer Luu Duc Khanh Managing Direclor Nguyen Duc Tam Vice Presidenl Luong The Phuc vice Presidenl Dinh Viet Phuong Vice President Nguyen Thi Thuy Binh Vice President To Viet Thang Vice President Nguyen Duc Thinh Vice President Tran Hoai Nam vice hesident I Do Xuan Quang Vice President Nguyen Thanh Son Vice President Ho Ngoc Yen PhuonS Vice hesident (from I November 2018) a \ VietJel Aviation Joint Stock Compatr-r Corporatc Information (continued) Supenisory Boerd Tran Duong Ngoc Thao Head oflhe Board Doan Thu Huong Member Pham Van Dau Member Regislered Omce 302/3 Kim Ma Street, Ngoc Khanh Ward Ba Dinh Distdct Hanoi City Audilor KPMG Limited vietnam VietJet Aviation Joint Stock Company Statement of the Board ofDirectors The Board ofDireclors ofViedet Aviation Joint Stock Company ('the Company") presents this slatement and lhe accompanying separate financial statemenls oflhe Company for lhe year ended 3l December 201E. The Board ot Direclors is responsible for the preparation and fair presentation of the sepaEte financial slalemenls in accordance wilh Vietnamese Accounling Standards, the Vietnamese Accounting System for enterprises and lhe relevant statutory requirements applicable 10 financial reporting. In lhe opinion ofthe Board ofDirectorsl (a) the separale financial stalemenls s€l oul on pages 6 to 47 give a true and fair view oflhe unconsolidated financial position of the Company as al ll December 2018. and of lhe t unconsolidated results ofoperations and lhe unconsolidaled cash flows ofthe Company for the year then ended in accordance with Viemamese AccountinS Standards, the Vietnamese Accounling System for enterprises and the relevant slatutory requirements applicable to fi nancial reporting; and (b) at the date ofthis statemenl. there are no reasons to believe that lhe Company will not be able to pay ils debts as and when they falldue. The Board ofDirectors has. on the dale oflhis statemenl. authorised lhese accompanying separate financial statemenls for issue. ofDireclors CONG TY CO PHA H ONG Nguyen i Phuong Thao ChiefErecutive Ollcer Ho Chi Minh City.5 April20l9 KbTqE KPMG Limited Branch 10rh Floor. Sun Wah Tower 115 Nguyen Hue Street, Ben Nghe Ward Distrid 1, Ho Chi Minh City, Vietnam +U (28) 3821 9266 | kpmg.com.vn INOEPENDENCE AUOITOR'S REPORT To the Shareholders VietJet Aviation Joint Stock Company We have audited the accompanying separate financial statemenls of VietJet Aviataon Joint Stock Company ('the Company") which compdse the separate balance sheet as at 31 December 2018, the separale statements of income and cash flows for the year then ended and the explanatory notes thereto, which by the Board ofoirectors were authorised for issue Company's on I 5 IPR 2SE as sel oul on Pages 6 to 47. Management's Responsibility The Company's Board of Direclors is responsible for the preparation and fair presentation of these separate llnancial stalements in accordance wilh Vietnamese Accounting Standards, the Vietnamese Accounting Syslem for enterprises and the relevant statulory requiremenis applicable to financial reporting, and for such internal control as the Board of Directors determines is necessary lo enable lhe preparation of separate financial statements that are free from material misstalement, whether due lo fraud or error. Audito.'s Responsibility Our responsibrlity is to express an opinDn on these separate financial stalements based on our elrdit. We conducled our audit in accordance wilh Vietnamese Standards on Auditing Those standards requhe lhat we comply wilh ethical requirements and plan and perform the audit to obtain reasonable assurance aboul whelher lhe separate financial slatements are free of malerial misstalement An audrl involves performrng procedures to obtain audit evidence about lhe amounts and disclosures in the separate financial stalements. The pocedures selected depend on the audilor's judgement, rncluding lhe assessment of lhe nsks of malerial misstatement oflhe separate financial statements whetherdue lo fraud or error. ln making lhose risk assessments, the auditor considers internal conlrol relevanl to the Companys preparalion and fair presenlation of ihe separale llnancial statemenls in order to desqn audit procedures that are appropriate in the circumstances, but not for lhe purpose of expressing an opinion on lhe effecliveness of the Companys inlernal conlrol An audil also includes eveluating the appropriateness of accounttng policies used and the reasonableness of accountrng estimales made by the Company's Board of Direclors, as wellas evalualing the overall presentalion ofthe separate financtal stalemenls. We believe thal the audil evidence we have oblained is sufficient and approprEle lo provde a basts for our audil optnon l lveli.fiEdldd6nr,ry Audito/s Opinion ln our opinion, the separate linancial statements give a true and fah view, in all material respects, ofthe unconsolidated financial position of VietJet Aviation Joint Stock Company as at 31 December 2018 and of its unconsolidated results ofoperations and its unconsolidated cash flows forthe yearthen ended in accordance with Vietnamese Accounting Standards, the Vietnamese Accounting System tor enterprises and the relevant statutory requirements applicable to llnancial reporting ited's Branch in Ho ChiMinh City rt 18-01-00446-19-1 CHI NHA c6NG TY K Chun Chong Practicing Auditor Registration Audltor istration Certifi cate No. 0863-201 8{07-1 No 18-007 Deputy Genetal Dircctor Ho chi Minh city, 0 5 APR 2019 1 ,1 N tr ) VietJet Aviation Joint Stock Company Separate balancc sheet as at 3l December 2018 FormB0l-DN (Issuerl wder Circular No. 200/201+T T-BTC dated 22 Dece,nbet 201J ofthe Ministry of Finance) code Note 3!/12'2Dolt l/v20t8 vN 1) ) ASSETS ( Currctrt assets t00 t 6,72 7,0J0,2J0J 1 I I 5,191t,000,906,6,17 (100= + + + I l0 120 + 130 140 150) ]( Cash and clsh.quivrl€trts ll0 7,136)59241,738 6,416,9t 0J24,903 Cash 1 1.640.1s9.14 I .738 2.399.700.324.901 Cash equivalents II] t.5 I 5.S60.000.000 4-037-I0.000.000 Sbort-term fi Mncirl itrvBtmetrts t20 6(a) E r s,5m,000,000 Trading securilies l:l 990.000.000.000 Allowance for diminution in the value oftmding securities 122 ( r 74,500,000,000) Accoutrts receiv.ble - short-term lJ0 7.93t,5W214,123 8,1 80J40,974,6J6 Accounts receivable from customers l3t 7 | .220.0 I 3,565.836 420.236.210.114 Prepaymenls lo suppliers shon-term t32 8(a) I29.927.091.931 90.275.878.r62 Other shonierm receivables t36 9(a) 6.58r.568.556.956 7.669.828.826.300 lnvetrtorics ll0 l0 46t,729J05,585 267,t8t,519,500 Other currrnt rssets 150 354,932,46&265 31356E,087,60t Short-term prepaid expens€s t5l 1a(a) 299.9 77 .93t ,225 2r8.461.780.633 Taxes receivable from State Treasury t53 16(b) 54.954,537,040 95,t06,306,975 lrtrg-t€rm 3ssets 200 r9,955J0t,908,719 13,967,79r,166J61 (200 = 210+ 220 + 240 +250 + 250) Accourts rnriv.bl€ - lorg-tcrd 210 r 0575.666J23.t35 7.151,147J68526 Prepa),rEnts to supplie.s - long-term trl 8(b) 701.500,000.000 70t,500.000,000 Other long-lerm receivables 2r6 e(b) 9.874.t66.223.835 6.449.647,568,526 Fixed esset! 220 I,645,095,006,520 r,s2&47233,tr559 Tangible fixed assets 221 II I ,642, I 89,53 5,533 1,523.538,52t,104 Cost 222 1,931,,13,1,915,327 1,676,816,302,19J Acc unulated dey ec ianon 223 (292,215,109,794) ( 153,307,781,389) Intangible fixed assets 227 t) 2.905.410.981 4.933.813.455 Cost 228 29,077,6)8,155 29,077,618,t 55 Accunuloled ono isatioh 229 (26, t 72,t17,)68) (21,113,801,700) Lorg-term work in progress 210 I ,I 75,977,845,586 t9J,43t,223,060 Constsuclion in progress 242 I3 | , r 75.977,845.5 86 193.431.223.060 Long-term fi Datrcirl iDvestmeot! 250 11,124,629814 11,424,529,414 1 lnvestments in subsidiades 251 6(b) 9,000,000,000 9.000.000.000 lnvestmens in associates 252 6(b) 60.000,000.000 60.000.000.000 Equity investments in other entities 253 6(b) 7.868.448.000 7.868.448.000 Heldlo-maturity investments 255 6(c) 556.t 81.818 556.t 8t.8r8 Other long-l€rm s$ets 260 5,4E I,038102,960 5,0t 7Jl5,.lr0J98 Long-term prepaid expenses 16r l4(b) 6.48 r .038,202,960 5.017.1r5.410.398 TOTAL ASSETS (270 = 100 + 200) 210 J6,6E2r32,139,0J0 29,t65,792,073,008 The accompnying notes arc on integrol pafl of these $eporate lnolcial stole ents 6 vietJet Aviation Joint Stock Company Separatc balance sheet as rt Jl December 2018 (continued) FormB0l-DN (Issued mdet Circulat No.