PRIVATE AND CONFIDENTIAL

18 September 2013

AGENDA:
1. Brief corporate profile 2. Group structure 3. Financial Highlights 4. Share capital structure 5. Production facilities 6. Co far! de"elop!ents

#. $e% in"est!ent highlights &. Fi"e'(ear Strategic C)P*+ Plan ,. -pdated financial perfor!ance 1.. / 0 )

VISION
12o 3eco!e the leading 4ietna!ese trusted 3rand on nutrient and health% products for hu!an life5

9:SS:;<

14ina!il6 co!!its to 3ring 3est'7ualit% nutrition to co!!unities that reflects our respect8 lo"e and responsi3ilit% for the people8 life and societ%5

1. Integrity: :ntegrit% and transparenc% in actions and transactions. 2. Re pe!t: 2o ha"e self'respect and respecting colleagues8 Co!pan%8 partners. 2ocooperate ith respect.

CORE VALUES

3. "#irne : 2o 3e fair other parties.

ith e!plo%ees8 custo!ers8 suppliers and

$. C%mp&i#n!e: 2o co!pl% ith legal regulations and the Co!pan%=s Code of Conduct8 regulations and policies. '. Et(i! : 2o respect the esta3lished ethical standards and act accordingl%.

1. )rie* C%rp%r#te +r%*i&e

2013
1%t#& #&e re#!(e USB3bn )e!%me t(e C%r&.; t%p '0 &#rge t .#iry pr%./!t !%mp#nie

1%.#y
N%.1 .#iry pr%./!er in Vietn#m 1(e Regi%n; 1%p 200 be t Sm#&& < 6i. i=e C%mp#nie in A i# +#!i*i! in 2010 >"%rbe A i#? 1%p ' &#rge t pri8#te !%mp#nie in Vietn#m O5n 1,.3@ t#2e %* 6ir#2# Limite.7 Ne5 Ae#&#n.

2004 1,88- 1,8,

Die&#! +%5.ere. 6i&2 "#!t%ry7 t(e *ir t p%5.ere. mi&2 in Vietn#m7 !#me int% %per#ti%n #n. intr%./!e. it *ir t b#t!( %* pr%./!t.

1,34
C%mp#ny 5# *%/n.e. /n.er t(e S%/t(ern C%**ee D#iry C%mp#ny n#me 5it( 2 *#!t%rie . L#/n!(e. !%n.en e. mi&2

1,,1-1,,$
Intr%./!e. U01 mi&2 #n. p%%n y%g(/rt t% t(e Vietn#m .#iry m#r2et.

2003
C%mp#ny 5# *%rm#&&y !%n8erte. int% # 9%int t%!2 !%mp#ny #n. ren#me. # Vietn#m D#iry +r%./!t :%int St%!2 C%mp#ny

C%mp#ny; (#re 5ere &i te. %n 0OSE

2. Gr%/p Str/!t/re

3. "in#n!i#& 0ig(&ig(t
> in 4<? 3illion@ +r%*it < &% 2otal re"enue Profit 3efore taD Profit after taD Di8i.en. per (#re Basic *PS >4<?Eshare@ ?i"idend >4<?Eshare@ )#&#n!e (eet Aegistered capital ShareholdersF e7uit% 2otal assets Gong ter! 3orro ings <et 3oo6 "alue >4<?Eshare@ "in#n!i#& r#ti% C profit 3efore taDEAe"enue C profit after taDE *7uit% C total de3tsE *7uit% 2..& B B 2.., B 2.1. B 168.&1 48251 38616 B B 68&34 58... B B 38531 #8,64 1.8##3 ' 228556 B B 26C 5.C 35C 2.11 B 228.#1 48,#, 4821& B B 58145 38... B B 58561 1284## 1585&3 ' 22843# B B 23C 41C 25C 2#81.2 68,3. 58&1, B B 68,&1 48... B B &834. 1584,3 1,86,& ' 1&85## B B 26C 42C 2#C 34C 5.C 4#C 2.12 C)GA

&83&1 1.8&2. 183#1 28#31 1824, 283#6 B B B B 38563 68#6, 38,.. 28... B B B B 18#53 38513 48666 68455 58,6# &84&2 22 12 26861, 1&83#& B B B B 16C 25C 2&C 43C 2&C 31C

4&C 35C 35C

3. "in#n!i#& 0ig(&ig(t >continuedH@

$. S(#re C#pit#& Str/!t/re

)s at 14 )ugust 2.13I ' Share capitalI &833, 3illion 4<? >J-SK3,3!@ ' 9ar6et capitaliLationI J -SK5.&6 3illion Gisted on H;S*I Man 2..6 4ina!il6 is highl% sought after 3% foreign in"estors8 pro"en 3% li!ited roo! left for foreign trading and significant out' perfor!ance against the indeD
1r#.ing per*%rm#n!e >in.eD i reb# e. t% Vin#mi&2; pri!e? (#re

$. S(#re C#pit#& Str/!t/re Top 10 companies with the largest market capital in Vietnam

%e& 1 2 3 4 5 6 7 8 9 10

%ticker GAS VNM CTG MSN VCB VIC BVH STB EIB DMP

Out'ta()i(g Market price Market capita+ i( '*are' 13-Aug-13 VND ,i++i-( 1,895,000,000 68,000 128,860 833 !"# 8$1 1!$ ### 122,523 3,266,144,348 19,000 62,057 705,140,873 88,000 62,052 2,317,417,076 26,600 61,643 882,459,899 65,000 57,360 680,471,434 41,200 28,035 1,142,511,590 16,900 19,308 1,235,522,904 14,400 17,792 379,934,260 40,800 15,501

'. +r%./!ti%n "#!i&itie

N%rt(
1 production factor% 2ien Son 1 logistics enterprise 1 sales office N Hanoi

Centr#&
4 production factories <ghe )n Binh ?inh 2hanh Hoa ?a <ang 1 sales office N ?a <ang

S%/t(
& production factories 2hong <hat Saigon!il6 2ruong 2ho Can 2ho ?ielac 1 0 2 Be"erage 9ega factor% 1 logistics enterprise 1 healthcare 3ranch 1 sales office N Can 2ho Cit%

A #t 30 :/ne 20137 5e (#8e '738, >2012: '7000? emp&%yee n#ti%n5i.e.

4. C%5 "#rm De8e&%pment

N%rt(
4ina!il6 has currentl%

.5 far!s ith the total of J &82.. co s

Suppl% chain of !il6I

N%rt( Centr#&

'

Gocal suppl% fro! far!ersI onl% ra fresh !il6 and J 25C of the total production de!and. :!portsI onl% !il6 po ders and J#5C of the total production de!and. :!ports are !ainl% fro! <e Oealand8 )ustralia and -S).

'

S%/t( Centr#& S%/t( E# t

13

3. Iey In8e tment 0ig(&ig(t

Vin#mi&2 p% e e t(e !riti!#& H/#&itie t% /!!ee.:

1 Le#.ing m#r2et p% iti%n in Vietn#m; *# t-gr%5ing .#iry m#r2et

2 Di8er i*ie. pr%./!t p%rt*%&i%

3 EDten i8e #&e #n. .i trib/ti%n net5%r2

$ Str%ng E5in-5inF /pp&ier re&#ti%n (ip

Str%ng m#r2et-%riente. re e#r!( #n. .e8e&%pment !#p#bi&itie 7 !%mbine. 5it( m%.ern pr%./!ti%n *#!i&itie

'

4 0ig(&y eDperien!e. m#n#gement 5it( pr%8en tr#!2Gre!%r.

3 +r%8en tr#!2 re!%r. %* r%b/ t *in#n!i#& gr%5t(

Presentation2

2he 4ietna!ese dair% !ar6et eDhi3its strong gro th potentialH

Vietn#me e .#iry pr%./!t m#r2et #&e >USBmm?
.8@ CAGR J 11
&## 665 6,&

+er !#pit# pr%./!ti%n %* .#iry pr%./!t in 2010E >2i&%?

,&.

1.3,

2..5

2..6

2..#

2..&

2..,

SourceI Food and )griculture ;rganiLation of the -nited <ations8 ?air%4ietna!

Vietn#me e *re ( mi&2 %/tp/t >mt?

D#iry #&e gr%5t( 2010-201'E >@?

52 48 37 32

18.,@ CAGR J

24

16 5

2..1 2..2 2..3 2..4 2..5 2..6 2..# 2..& 2.., 2.1.

China

India

Vietnam Indonesia Thailand

Mexico

US

Iey .ri8er %* t(e Vietn#me e .#iry pr%./!t m#r2et

C%ntin/e. tr%ng gr%5t( %* GD+ >t#rgete. 3.0-3.'@ gr%5t( in t(e neDt ' ye#r ? #n. in!re# ing .i p% #b&e in!%me 0eig(tene. .e ire *%r (e#&t(y &i8ing #n. gre#ter .em#n. *%r n/triti%n#& pr%./!t In!re# e. #5#rene %* t(e (e#&t( bene*it %* .#iry pr%./!t S/pp%rti8e g%8ernment pr%gr#m en!%/r#ging t(e !%n /mpti%n %* .#iry pr%./!t
SourceI *uro!onitor :nternational report 2..,8 Food and )griculture ;rganiLation of the -nited <ations8 GS;8 ?air%4ietna!

Hand e ha"e esta3lished oursel"es as one of the leading dair% 3rands in 4ietna!
A!(ie8e. .%min#nt m#r2et p% iti%n t(r%/g( %/r *%!/ %n:
A.8erti ing #n. m#r2eting +r%./!t inn%8#ti%n K/#&ity # /r#n!e

Re!ei8e. n/mer%/ pre tigi%/ #5#r. L

4ietna!ese high 7ualit% product Strong 3rand8 2rusted 3rand <ational Brand 2.11'2.12 ;ne of the 3est annual report 2..&'2.12 1(e Regi%n; 1%p 200 be t Sm#&& < mi. i=e !%mp#nie in A i# +#!i*i! 2010 >by "%rbe A i#? 2op 5 largest pri"ate co!panies in 4ietna! 2.11 2op 5. co!panies ith the 3est perfor!ance in 4< 2op 5.. co!panies ith the strongest gro th in 4<

L%n t(e b#!2 %* 5e&&-.e*ine. b/ ine tr#tegie

EDp#n i%n %* m#r2et (#re in eDi ting #n. ne5 m#r2et

)r%#.en !%n /mer b# e 5(i&e m#int#ining !%mpetiti8ene in !%re pr%./!t

De8e&%pment %* r#5 m#teri#& %/r!e t% en /re #

re&i#b&e #n. !%n i tent *re ( mi&2 /pp&y b# e

?e"elop !odern co :!port co s fro! <e ?e"elop co

far!s in 4ietna!

Oealand8 )ustralia and 2hailand to increase the nu!3er of co s in 4ina!il6=s far!s far!s o"erseas8 e.g. Ca!3odia8 <e Oealand

?i"erse product portfolio capturing a larger share of the consu!er allet

+r%8e %/r m#r2et .%min#n!e in #&& !%re pr%./!t %* %/r .i8er e p%rt*%&i%

LiH/i. mi&2

+%5.ere. mi&2

C%n.en e. mi&2

:nclude fresh8 pasturiLed and

-H2 !il6
9ain co!petitorsI ?utch Gad%

Contri3uted 22C 2#C of 2.1. re"enue :ncluding Po dered !il6 and lines of products8 including ?ielac & ;ne of 4<9=s core products since 1,#6 <utrition Po der 9a!a8 ?ielac )lpha and ?ielac Sure 6#r2et (#re: M80@ 6#r2et (#re: N20@ Co!petitorsI Co!petitorsI Co!petitorsI ?utch Gad% ?utch Gad%8 )33ott8 9eadMohnson

;ur traditional products Co!petitorsI ?utch Gad%

)33ott8 9eadMohnson8 <utrifood8 ?u!eD8 <estle

?i"erse product portfolio capturing a larger share of the consu!er allet >cont=d@
+r%8e %/r m#r2et .%min#n!e in #&& !%re pr%./!t %* %/r .i8er e p%rt*%&i%

Sp%%n O%g(/rt

C(ee e #n. i!e !re#m

0e#&t(y be8er#ge

Pith "arious fla"ors 9ain co!petitorsI ?utch Gad%

Contri3uted 22C is 2#C of offered 2.1. re"enue :ce crea! ith lines of products8 including ?ielac & ;ne of 4<9=s core products since 1,#6 "arious 9a!a8 ?ielacfla"ors )lpha and ?ielac Sure 6#r2et (#re: M80@ 6#r2et (#re: N20@ Co!petitorsI Cheese)33ott8 Co!petitorsI ?utch Gad% is produced fro! 9eadMohnson

) strong 3rand8

French production line and has "er% high nutritious "alue

9ain co!petitorsI $inh ?o

hich specialiLes in pure fruit Quice8 green tea8 !il6 !iDed fruit Quice8 soft drin6s and so%a'3ean !il6 Phat8 -AC8 -ni'president8 2ri3eco

9ain co!petitorsI 2an Hiep

P ro Beauty Yo g h u r t

NE W

Pe ha"e de"eloped one of 4ietna!=s !ost eDtensi"e sales and distri3ution net or6s in the dair% industr%
A (i t%ri!#&&y tr%ng eDp%rt b/ ine L

;n a"erage8 approDi!atel% 15C of our re"enue is generated fro! eDports to 16 countries. $e% eDport !ar6ets are 9iddle *ast8 Ca!3odia8 Gaos and Philippines

L #n. t(e &e#.ing &%!#& .i trib/ti%n net5%r2

VINA6ILI
EPCLUSIVE DIS1RI)U1ORS

SU+ER6ARIE1S 7 6E1RO7L

RE1AILERS

CONSU6ERSQEND USERS

Presentation2

Strong 1 in' in5 supplier relationship

Vin#mi&2 gi8e L L#n. re!ei8e tr%ng /pp%rt *r%m %/r /pp&ier

C%mpetiti8e pri!ing p%&i!ie

Purchases o"er approDi!atel% 5.C '6.C of do!esticall% produced ra !il6 in 4ietna!

Ste#.y /pp&y %* (ig( H/#&ity r#5 mi&2

"in#n!i#& /pp%rt t% *#rmer

;ffer far!ers seasonal su3sidies hen prices of ra !il6 eDperience sharp changes

S/b t#nti#& pri!ing p%5er *%r Vin#mi&2

C%n i tent7 *re ( /pp&y %* r#5 mi&2

+r%Dimity %* *#!i&itie

9il6 collection centers located ithin 3. !inutes fro! far!s

C&% e re&#ti%n (ip 5it( /pp&ier #&&%5 / t% m#int#in #n. in!re# e pr%./!ti%n %/tp/t

'

Strong !ar6et'oriented product de"elop!ent capa3ilitiesH.

6#r2eting te#m
*Dperienced in anal%Ling consu!er preferences and trends Conduct consu!er research ith !ar6et research co!panies

+r%./!t R<D te#m

?edicated A0? tea! of o"er 1. !e!3ers Co!!itted to i!pro"e product 7ualit% and eDpand product portfolio. Signed agree!ent ith 3 leading co!panies na!ed ?S98 GonLa and Chr. Hansen for A0? for research8 application and product de"elop!ent

S#&e te#m
2horough understanding of consu!er preferences through constant contact at "arious outlets

Abi&ity t% .e8e&%p ne5 pr%./!t b# e. %n e8%&8ing !%n /mer pre*eren!e

'

H co!3ined ith !odern production facilities

+r%./!ti%n &ine
2echnologies i!ported fro! Ger!an%8 :tal%8 and S itLerland for !anufacturing

+#!2#ging

Pac6aging technologies pro"ided 3% 2etrapa68 Bencopac6 and S:G Co!3i3loc

Spr#y .rying

Spra% dr% technolog% produced 3% <iro :nc. ofB?en!ar6 Aetains high content of nutrients and !inerals

In8ent%ry m#n#gement

*AP technolog% po ered 3% ;racle !anages in"entor% and !ini!iLes spoilage loss

O/r t#te %* t(e #rt *#!i&itie en /re (ig( H/#&ity pr%./!t

Highl% eDperienced !anage!ent ith a pro"en trac6 record of deli"ering strong 3usiness perfor!ance
C%re m#n#gement te#m 5it( eDten i8e in./ try eDperien!e in Vietn#m

4ina!il6 has a strong !anage!ent tea!I C*; and # *Decuti"e ?irectors in charge of different areas8 inclusi"e of Sales8 9ar6eting8 Finance8 Production and A0?8 Suppl% Chain8 Aa 9aterials ?e"elop!ent8 ProQect. 2he !anage!ent tea! has strong education 3ac6ground and industr% eDperiences. 9ost of the! ha"e 3een gro ing ith the Co!pan% for !ore than 2. %ears.

S%&i. p&#t*%rm #n. eDperti e t% .ri8e / t#in#b&e */t/re gr%5t(

8. "i8e- Oe#r Str#tegi! CA+EP p&#n:

1%t#& in8e tment t% 2014

#5,1&,'..1

:n 3illion dong 1O1AL B

A&re#.y Di b/r ement Di b/r ement p#i. in 2013 in 201$ - 2014

1# .3"

. /#.

2 .""

2 33.

2he C)P*+ plan is !ainl% to increase the production capacit% and de"elop dair% co far!s.

#5,1&,'..1

DIELAC 2 >+%5.ere. mi&2 p&#nt? C# p/t int% %per#ti%n Apri& 2013. in!e

#5,1&,'..1

6EGA "AC1ORO- LIKUID 6ILI +LAN1

1% be %penne. %n 30 A/g/ t 2013

#5,1&,'..1

8. "i8e- Oe#r Str#tegi! )/ ine

+&#n >continuedH@

#5,1&,'..1

,. Up.#te. *in#n!i#& per*%rm#n!e >#/.ite.?: t(e *ir t (#&* 2013

#5,1&,'..1

%&A'(T)(DAT& ( in VND billion) Total sales Total profit before tax Net profit after tax 2013 1 !0 2 4,114 3,374 2012 13!13" 3,370 2,776
% increase/ (decrese)

% vs AGM' target

15% 22% 22%

#$% 53% 54%

#5,1&,'..1

#5,1&,'..1

?:SCG):9*A
2his presentation !a% contain for ard'loo6ing state!ents. )n% such for ard'loo6ing state!ents are 3ased on a nu!3er of assu!ptions a3out the operations of 4ietna! ?air% Products Moint Stoc6 Co!pan% >the 1Co!pan%5@ and factors 3e%ond the Co!pan%=s control and are su3Qect to significant ris6s and uncertainties8 and accordingl%8 actual results !a% differ !ateriall% fro! these for ard'loo6ing state!ents. 2he Co!pan% underta6es no o3ligation to update these for ard'loo6ing state!ents for e"ents or circu!stances that occur su3se7uent to such dates. 2he infor!ation in this presentation should 3e considered in the conteDt of the circu!stances pre"ailing at the ti!e of its presentation and has not 3een8 and ill not 3e8 updated to reflect !aterial de"elop!ents hich !a% occur after the date of this presentation. 2he infor!ation is not intended to pro"ide8 and %ou !a% not rel% on these !aterials as pro"iding a co!plete or co!prehensi"e anal%sis of the Co!pan%Fs financial or trading position or prospects. 2his presentation also contains infor!ation and statistics relating to the dair% industr% and related industries. 2he Co!pan% has deri"ed such infor!ation and data fro! unofficial sources8 ithout independent "erification. 2he Co!pan% cannot ensure that these sources ha"e co!piled such data and infor!ation on the sa!e 3asis or ith the sa!e degree of accurac% or co!pleteness as are found in other industries. (ou should not place undue reliance on state!ents in this presentation regarding the dair% and related industries. <o representation or arrant%8 eDpress or i!plied8 is !ade as to8 and no reliance should 3e place on8 the fairness8 accurac%8 co!pleteness or correctness of an% infor!ation or opinion contained herein. <one of the Co!pan%8 an% under riter of securities of the Co!pan%8 or an% of their respecti"e directors8 officers8 e!plo%ees8 agents or ad"isers shall 3e in an% a% responsi3le for the contents hereof8 or shall 3e lia3le for an% loss arising fro! use of the infor!ation contained in this presentation or other ise arising in connection there ith.