Mekong Capital Corporate Brochure

CONTENTS

05 Private Equity Pioneer 06 Focused09 Best Practices 10 Our Mission11 Our Team12 Our Culture 14 Value Optimization Board16 Reputation19 Vision Driven Investing 21 Aligning Around A Common Vision 22 Successful Track Record 24 MobileWorld26 Loc Troi Group28 Phu Nhuan Jewelry30 Vietnam Australia International School 32 Traphaco34 Nam Long36 Some Of Our Exited Investments

DISCLAIMER

This document (the “Brochure”) does not constitute an offer to sell (or the solicitation of an offer to buy) any securities or other financial instruments, nor does it constitute an offer to provide any investment management services. This Brochure is not intended to provide the sole basis of an evaluation by potential investors of any investment or investment service and should not be considered a recommendation by Mekong Capital Advisors Company Limited (“Mekong Capital”) that any investment or investment service mentioned is suitable for every recipient of a copy of this Brochure. Prospective investors in any investment fund consulted by Mekong Capital or any other Mekong Capital consulting products, or persons wishing to engage Mekong Capital to provide any investment consulting service, should contact Chris Freund – Partner. Any such transaction or engagement will only be entered into in compliance with applicable laws and on the basis of appropriate legal documentation. In particular, Mekong Capital is required by applicable law to carry out certain procedures on, and to request specific information from, all potential investors or clients in order to verify their identity.

Some of the economic and financial market information in this Brochure (including certain forward looking statements and information) has been obtained from published sources and/or prepared by other parties. While such information is believed to be reliable for the purpose for which it is used in this Brochure, Mekong Capital, and its affiliates and their respective directors, officers, employees, partners and shareholders, do not assume any responsibility for the accuracy of such information. Certain information in this Brochure constitutes “forward looking statements”, which can be identified by the use of forward looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “estimate”, “intend”, “continue”, or “believe”, their respective negatives and other comparable terminology. Due to various risks and uncertainties (including those mentioned below) actual events or results or the actual performance of any investment may differ materially from those reflected or contemplated in such forward looking statements.

When considering the prior performance information contained herein, prospective investors and clients should bear in mind that past performance is not necessarily indicative of future results and there can be no guarantee or assurance that the funds consulted by Mekong Capital will achieve comparable results to those quoted in relation to previous returns or to projected future returns. Prospective investors and clients should also note that market and macro economic conditions and the prevailing regulatory and tax constraints affecting Mekong Capital in the future may differ substantially from those applicable to the previous Mekong Capital funds referred to in this Brochure and that in the future Mekong Capital may operate with different investment consulting and gearing strategies than those deployed in the funds referred to in this Brochure.

54

Mekong Capital was the first private equity investor in Vietnam and has developed deep expertise as a result.

Private Equity PioneerVIETNAM’S GDPHISTORY OF

MEKONG CAPITAL

FULL-TIME PEOPLE IN HO CHI MINH CITY& HA NOI

INVESTMENTSFULLY EXITED

PRIVATE EQUITY INVESTMENTS

FUNDS

Mekong Capital Ltdincorporated 2001 $35 billion

Mekong Enterprise Fund (MEF) launched 2002 $38 billion

First investments made 2003 $43 billion

Mekong Enterprise Fund II (MEF II) launched 2006 $66 billion

Vietnam Azalea Fund (VAF) launched 2007 $77billion

Vision Driven Investing pioneered & implemented 2009 $106 billion

Vision Driven Investing 2.0 implemented 2012 $156 billion

Partnership Model 2013 $171billion

Mekong Enterprise Fund III (MEF III) launched 2015 $205(e)

billion

6 7

Focused

Mekong Capital believes in: being focused; mastering what we do.

ONLY CONSUMER-DRIVEN BUSINESSES

BEST INPRIVATE EQUITY

ONLYVIETNAM

98

Mekong Capital has deep experience of applying best practices in retail and Fast-Moving Consumer Goods (FMCG).

Best PracticesOption 1

KPIscustomer

touch-points

recr

uitm

ent

customer satisfaction

bonussystems

custo

mer

insig

ht re

sear

ch

managementreporting

customer-drivenvs. product-driven

inventoryforecasting

SKU

sel

ection

boar

dm

eetin

gs

in-storeexperience

ERP

10 11

Mekong Capital has cultivated the best team in private equity in Vietnam.

Mekong Capital partners to build the best performing businesses in Vietnam, and consistently generates significant wealth for all shareholders as a result.

Our TeamOur Mission

165 25+combined years of experience at Mekong Capital team members

12 13

Our Culture

Mekong Capital’s corporate culture is the source of our effectiveness. We have invested extensively in developing a team that lives our core values.

CORE VALUES

GenesisChoosing the view of life that we are the source of what we choose, what actions we take, what impact we have and how the world materializes around us. Being the cause rather than the effect.

SkydomFreedom to choose, absence of force, and limitless possibility.

JeromosityRelating to other people as their commitments, intentions, possibilities and inherent goodness. Empowering others.

SpringthroughInspiring people to step out of their comfort zones, play a bigger game, and break through to the highest levels.

VictoranceFearless and relentless perseverance until the goal is achieved regardless of whatever obstacles seem to be in the way.

BeautegrityHonoring our word(1) so that everything works. Working together as a unified powerful force.

CommunipleteCommunicating in a complete and direct way so that nothing is in the way, misunderstood or unhandled. Getting the other person and being gotten.

InquisityAthletic inquisitiveness. Relentlessly pursuing the root causes and key drivers. Pushing the boundaries in generating game-changing insights.

(1)Honoring our word includes doing what we said we would do, doing what we know to do, doing what is expected of us by those with whom we wish to have a workable relationship at work, standing behind what we assert to be true, being and acting consistent with what we stand for, and honoring our Company’s Code of Ethics, legal and regulatory commitments.

14 15

Value OptimizationBoard

Mekong Capital has an extensive network of overseas advisors, consultants, former CEOs and regional/global private equity firms.

BOB WILLETT

Retail Expert • Former CEO of Best Buy International for 10

years, where he led Best Buy’s Non-U.S. operations, including Carphone Warehouse in Europe, Five Star Electronics in China, Geek Squad in Europe, and the launch of Best Buy Mobile in the U.S.

• Former Managing Partner of Accenture’s global retail practice.

PAUL LAGEWEG

FMCG Expert • Currently Regional Marketing Director Asia Pacific

for British American Tobacco and previously led the global launch of the e-cigarette.

• Former Group Managing Director at Kimberly Clark for several Asian countries, including Vietnam.

• Former General Manager for food industry of Unilever in Vietnam.

PETER A. BASSI

Restaurant Expert• Former Chairman and President of Yum

Restaurants International, overseeing all activities associated with the International Restaurant Division of Yum, including more than 12,000 KFC, Pizza Hut and Taco Bell restaurants distributed across over 100 countries.

JOE LOBBATO

Retail and Change Management Expert • Former COO of Central Retail Corporation,

Thailand. • Directly responsible for a total of approximately

260 stores, USD 1.6 billion in sales, 11,000 employees.

• Former Managing Partner of both Accenture’s Asia retail practice and Asia change management practice.

16 17

Reputation

Mekong Capital has a reputation for integrity, adding-value, applying high standards, and only investing in the best Vietnamese companies.

We invite potential business partners to research us with our current and former investee companies.

1918

Mekong Capital’s Vision Driven Investing approach is a framework for adding value to our investee companies which is based on best practices in private equity, strategy consulting, change management and executive coaching.

Vision Driven Investing

GOVERNANCE

STRATEGY

EXECUTION

BREAKTHROUGHVISION

SHAREHOLDERS’INTERESTS

MARKET DATA& ANALYSIS

MANAGEMENTTEAM

BONUS & INCENTIVE

KEYPERFORMANCE

INDICATORS (KPIs)MANAGEMENT

REPORTINGBREAKDOWN

ANALYSIS

BUSINESS PLAN& ANNUAL

MILESTONES

STRATEGY & MARKET

POSITIONINGRISKS

FOCUS TRANSPARENCY

IRR

2120

Our partnership with an investee company starts with aligning on long-term vision (typically 5 years) in which the interests of all parties are well aligned. This common long-term goal is the foundation of our partnership with the company.

Aligning Around A Common Vision

#1 marketshareleader500 Stores(100% Profitable)

Vietnam’s FirstGlobal Company

Largest Developer Of Affordable Housing

Incr

ease

Com

pany

Valu

e By

10

Tim

es

Ove

r 5 Y

ears

50 R

esta

uran

ts A

cros

s5

Succ

essf

ul B

rand

s LargestDistributionNetwork

One New CategorySuccessfully Launched

Every Year

Transf

orm

ing

Agri

culture

In V

ietn

am

2322

SuccessfulTrack Record

Our current and former investee companies are among the fastest growing and most well managed in Vietnam.

24 25

BEGINNING (2007)

535+stores7stores 1,027(e)

VNDNOW (2015)

6VND

billion profit billion profit

Transitioned from a small chain of 7 mobile phone stores in Ho Chi Minh City into Vietnam’s first nationwide retailer of mobile devices and consumer electronics, with more than 535 stores across all 63 provinces.

MOBILEWORLD

26 27

LOC TROI GROUP

Transformed from a pesticide company when we invested in 2008 to a ful-service agriculture company, providing total solutions to farmers and a vertically integrated agricultural business.

Vertically integrated to provide total solution to farmers (CPC, seeds, fertilizer and technical support).

BEGINNING (2008)

146VND

billion profit

NOW (2015)

507(e)VND

billion profit

28 29

PHU NHUAN JEWELRY Increased retail market share from 10% when we invested in 2007 to 21% in 2015.

BEGINNING (2007)

86 183+stores stores60 447(e)billion profit

from core business

billion profit from core business

NOW (2015)VNDVND

30 31

VIETNAM AUSTRALIA INTERNATIONAL SCHOOL

BEGINNING (2010)

NOW (2015)

20%

80%

of seat capacity in large well equipped

campuses

of seat capacity in large well-equipped

campuses

Transitioned from a Vietnamese-curriculum school with English classes operating in small campuses in 2010 to a dual-curriculum school in partnership with Cambridge Education, operating primarily at large well-equipped campuses by 2014.

Vietnamese curricula + world-accredited Cambridge curriculum for Primary and Secondary

Vietnamese curricula + English Studying program

Offering education services to some 5,400 students from K through 12 at 6 campuses in Ho Chi Minh City.

32 33

BEGINNING (2007)

38VND

billion profit

NOW (2015)

190(e)VND

TRAPHACO

branches

branches and distribution subsidiaries

2

25(e)

Shifted from the 5th largest pharma company in Vietnam in 2007 to the 2nd largest pharma company in Vietnam by aggressively growing its nationwide network of company-owned distribution branches and rolling out a direct-to-pharmacy sales team, in which they sell directly to more than 20,000 pharmacies.

billion profit

34 35

NAM LONG

BEGINNING (2010)

542 apartmentunits sold

NOW (2015)

2,019(e)apartmentunits sold

Transitioned from a real estate developer with a broad portfolio of residential, commercial and tourism projects into Vietnam’s market-leading developer of affordable housing under the EHome brand name.

landed houses sold327(e)

3736

Some of Our Exited Investments

AA Corporation – Revenues grew from $9.3 million when we invested in 2003 to $65 million in 2013.

Saigon Gas – Transitioned from selling via distributors to selling directly to retailers, thereby increasing the company value for an eventual trade sale to Total (France).

ICP – Revenues grew from $8.7 million when we invested in 2006 to over $50 million in 2013.

Golden Gate – Grew from 7 restaurants when we invested in 2008 to 120 restaurants in September 2015.

Masan Consumer – Revenues grew from $228 million when we invested in 2009 to over $760(e) million in 2015.

38 39

Ho Chi Minh City Office(Main office in Vietnam)c/o: Capital Place, 8th Floor6 Thai Van Lung Street, District 1Ho Chi Minh City, VietnamTel: (84 8) 3827 3161Fax: (84 8) 3827 3162

Hanoi OfficeHAREC Building, 12th Floor4A Lang Ha Street, Ba Dinh DistrictHanoi, VietnamTel: (84 4) 3772 4888Fax: (84 4) 3772 4868E-mail: [email protected]

www.mekongcapital.com