VINCOM RETAIL 1

Quarterly Results 2Q2022

Quarterly Results
2Q2022
July 28, 2022
Disclaimer
VINCOM RETAIL 2
Quarterly Ressults 2Q2022

IMPORTANT: The information contained herein is preliminary and subject to change without notice, its accuracy is not guaranteed, has not been independently verified and may not
contain all material information concerning Vincom Retail Joint Stock Company (the “Company”) and its subsidiaries (the “Group”). You should not rely upon it or use it to form the basis
for any investment decision or commitment whatsoever.

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(express or implied) or accepts any responsibility or liability for the accuracy or completeness of this presentation or any or all of the information in this presentation or otherwise made
available. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the financial or trading position or prospects of
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construed as constituting legal, business, tax or financial advice. You should conduct such independent investigations and analysis of the Group as you deem necessary or appropriate in
order to make an independent determination of the suitability, merits and consequences of investment in the Company.

This presentation contains “forward-looking statements”. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the
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“positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical
facts. Forward-looking statements are not guarantees of future performance. These forward-looking statements speak only as at the date of this presentation, and none of the company,
its shareholders, or any of their respective affiliates, directors, officers, employees, agents, advisers or any other person undertakes to update or revise any forward-looking statements as a
result of new information or to reflect future events or circumstances.
Key Highlights
VINCOM RETAIL 3
Quarterly Ressults 2Q2022

Vietnam economy continues to recover robustly, retail market is back on track for growth
• GDP growth • Total retail sales of consumer goods and services: 2Q2022 QoQ (2) growth of
1  2Q2022 YoY(1) growth of 7.7% - the highest quarterly growth since 2011 5.5%; 1H2022 YoY growth of 11.7%
 1H2022 YoY growth of 6.4%- the highest 6M growth in the last three • Customers return to in-store shopping experience
years • Regional large-scale retailers resume investment into expansion in Vietnam

Business is back on growth trajectory, evidenced by solid YoY quarterly growth in both top line and bottom line
• Total revenue in 2Q2022 reached VND 1,850 billion, increased by 22.5% YoY
2
• Revenue from leasing of Investment Properties and Rendering of Related Services in 2Q2022 reached VND 1,822 billion, increased by 33.1% YoY
• Profit after tax in 2Q2022 reached VND 773 billion, increased by 99.5% YoY

Continue our expansion plan with focus on VMM model, constantly upgrade design and customer experience
• Target to reach 2 million sqm of retail GFA by the end of 2023
3 • Constantly upgrade design, tenant mix and customer experience in our malls and develop new products such as retail tourism
 Innovative Life-Design Mall model to bring the most trendy shopping experience to customers with the opening of VMM Smart City in Hanoi in April 2022 and
two VCP in Bac Lieu and My Tho in June 2022
• Focus on tenants who are large retail chains looking to expand with our network in 1H2022; however, the fit-out might take longer due to global supply chain
disruption

Source: Company information, General Statistics Office of Vietnam

(1) YoY: compared to the same period last year
(2) QoQ: compared to the previous quarter
Key Metrics of 2Q2022
VINCOM RETAIL 4
Quarterly Ressults 2Q2022

Unit: VND billion 2Q2021 1Q2022 2Q2022 YoY% QoQ%

GFA (‘000 sqm) 1,654 1,654 1,747 6% 6%

Leasing revenue 1,370 1,246 1,822 33% 46%

Leasing NOI(1) 939 857 1,350 44% 58%

EBITDA 1,006 939 1,403 39% 49%

PATMI 388 377 773 99% 105%

Source: Management Report and Consolidated Financial Statements of 2Q2022,

(1) NOI for leasing of investment properties and rendering of related services is calculated by taking total income from leasing activities and from other property-related services less any property-related operating expenses which include land lease costs but exclude management expenses allocated from parent company.
Occupancy rate in 2Q2022
VINCOM RETAIL 5
Quarterly Results 2Q2022

2Q2021 1Q2022 2Q2022 YoY (pp) QoQ (pp)

Vincom Center 94.8% 93.0% 93.0% (1.8) (0.0)

Vincom Mega Mall 86.8% 86.3% 86.3% (0.5) (0.0)

Vincom Plaza 80.3% 78.5% 77.8% (2.5) (0.7)

Vincom+ 74.6% 73.5% 73.1% (1.5) (0.4)

Total 84.1% 82.7% 82.5% (1.6) (0.2)

Source: Company information

 VINCOM RETAIL 6
Quarterly Ressults 2Q2022

Market 2Q2022 Key Mid and Long-term Financial Update

1 Overview 2 Highlights 3 Strategic Plan 4
01
VINCOM RETAIL 7
Quarterly Results 2Q2022

Market
Overview
VINCOM RETAIL QUARTERLY RESULTS 2Q2022
 Vietnam’s economy is back on track to growth
VINCOM RETAIL 8
Quarterly Results 2Q.2022

Vietnam ranked high in post-COVID Inflation is under control, facilitating Retail market is gradually recovering,
Recovery index macroeconomic stability reaffirming growth potential

Vietnam ranked 2nd in post-COVID GDP 2Q2022 GDP 1H2022 Total retail sales in 1H2022
recovery index according to Nikkei’s
2 COVID-19 Recovery Index(1) in June
2022
+7.7% +6.4% +11.7%
YoY YoY YoY
+ 12 compared to May Consensus CPI inflation (%)(3)
12 Consumption growth per capita (2021E – 2024F) (5)

Ranking of other Southeast Asian countries 8 10.0

10
7
6 8
5
#1 #2 #26 #53 #62 #71 6 5.1
4 4.7
4.3
4.0
Population that completed the initial Covid-19 Vaccination protocol 3 4
2.9
and booster doses(%) (2) 2
90 80.9 2
1
80
0 0
70 64.5 VN MY SG TH PH ID
Global US China Vietnam
60
2021 2022F 2023F 2024F
50
40 Forecast of Inflation in Vietnam is under Forecast of IMF predicts that Vietnam’s GDP will
30 Vietnam inflation control compared to the Vietnam GDP in surpass Philippines and Singapore to
20 in 2022 (4) global average, creating 2025 become the third largest economy in
favorable conditions for Southeast Asia by 2025
10
0
May-21 Jul-21 Oct-21 Dec-21 Feb-22 Apr-22 Jul-22
3.5% maintaining interest rates,
stabilizing macro-economy.
$571
Billion USD
Standard doses Booster doses

Source: (1) Nikkei Asia's Covid-19 Recovery Index evaluates more than 120 countries and territories based on disease control, vaccination deployment and social distancing levels.... (2) Ministry of Health, Ourworldindata
(3) Bloomberg (4) HSBC Global Research (5) Economic Intelligent Unit Global Insights
Retail Market Trends in the First Half of 2022
VINCOM RETAIL 9
Quarterly Ressults 2Q2022

Supply chain disruption and lack

1 Customers are returning to the in-

person shopping experience 3 Prime locations recorded
significant increase in rents 5 of labor affects production costs
and fit-out time of retailers

Hanoi’s real estate retail market

2 recorded new supply(1) for the first-
time after 5 consecutive quarters
4 Retailers push forward expansion
strategy

Source: CBRE 2Q2022 report

 2Q2022 Market Highlights
VINCOM RETAIL 10
Quarterly Ressults 2Q2022

• According to CBRE, the retail leasing market in HN and HCMC has seen significant recovery in the second quarter of 2022. In HN, VMM Smart City opened in Q2, bringing
the total retail supply to 1,065,000 sqm (NLA). Supply from shopping malls in TPHCM remained stable with 1,090,928 sqm (NLA)
• Rents in CBD in HN and HCMC both increased sharply. The average asking rent in the CBD of Hanoi was up by 27,5% YoY, in TPHCM increased by 51% YoY
• Rents outside the CBD of HN and TPHCM also increased by around 4 - 8% YoY

HANOI (‘000 sqm) HO CHI MINH CITY (‘000 sqm)

300 200
5.0% 19 35
10.1%

2022 1,054 1,054 1,064 1,083 2022 1,049 1,049 1,049 1,084
1.06 mil sqm 1.09 mil sqm

NLA 95.0% 2020 2021 2022F 2023 - 2024F 89.9% 2020 2021 2022F 2023 - 2024F

CBD Non-CBD Present Future CBD Non-CBD Present Future

USD/sqm/month USD/sqm/month

89.2% 85.5% 89.5% 85.0% 87.1% 83.2% 87.1% 83.2% 90.1% 84.2% Occupancy rate 98.1% 85.4% 98.1% 88.6% 98.1% 88.6% 96.5% 86.3% 95.8% 87.3% Occupancy rate

Asking rent Asking rent

206
132
104 106 107 144 145 Asking rent and
103 Asking rent and 137 137 occupancy rates at
occupancy rates at
CBD
CBD
25 34 35 37 Asking rent and
24 24 24 24 33 33
Asking rent and occupancy rates at
occupancy rates at non-CBD
non-CBD
2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22
Asking rent and
occupancy CBD Non-CBD CBD Non-CBD
rates(1) ● Asking rent: USD132/sqm/month
Increased 27.2% YoY
USD25/sqm/month
Increased 3.7% YoY
● Asking rent: USD 206/sqm/month
Increased 50.6% YoY
USD 37/sqm/month
Increased 8% YoY

90.1% 84.2% 95.8% 87.3%

● Occupancy rate: ● Occupancy rate: Decreased 2.3% YoY
Increased 1.2% YoY Decreased 1.2% YoY Increased 1.3% YoY

Source: Company Information, CBRE 2Q2022

(1) The average asking rent of fashion/cosmetic stalls on the 1st floor of shopping malls in Hanoi and Ho Chi Minh City. The average occupancy rate of shopping malls in Hanoi and Ho Chi Minh City, CBRE does not provide general market data for the whole country
 Market Outlook in 2022 - 2024
VINCOM RETAIL 11
Quarterly Results 2Q2022

Forecast of asking rent and occupancy rates in Hanoi

USD/sqm/month
200
175 177
96% • Rents in CBD of HN and TPHCM are forecasted to increase sharply in
93% the next 2 – 3 years due to lack of new supply
150 140
90% • Rents in non-CBD of HN and TPHCM will increase slightly or remain
107.6 106.8 stable
87%
100
84% • Occupancy rate in CBD of HN is forecasted to increase significantly,
81% while in TPHCM is expected to remain stable at over 90%
50
24.5 24 25 27 27
78% • Occupancy rate in non-CBD may remain stable or increase slightly
0 75%
2020 2021 2022F 2023F 2024F
Asking rent - CBD Asking rent - Non-CBD Occupancy rate - CBD Occupancy rate - Non-CBD International and domestic retail chains continue to expand

Forecast of asking rent and occupancy rates in TPHCM

Annam Gourmet,
USDsqm/month Beauty Box, VMM
250 100% VMM Smart City
Times City - opening
210 210 210 opening -
96% May 2022
200 April 2022
144 92%
150 135.5
88% Famous beauty retail
100 chain Sephora, part of
84% Lyn, VMM Ocean LVMH group, has
50 34.4 33 37 37 37 Park opening - started operating an e-
80%
June 2022 commerce store
0 76% exclusively for the
2020 2021 2022F 2023F 2024F Vietnamese market
Asking rent - CBD Asking rent - Non-CBD Occupancy rate - CBD Occupancy rate - Non-CBD

Source: CBRE
02
VINCOM RETAIL 12
Quarterly Results 2Q2022

2Q2022 Key
Highlights

VINCOM RETAIL
 Financial Performance
Financial Performance– 1Q2021
in 2Q2022
Revenue and profit are on track to recovery

Total revenue Leasing Revenue

VND billion % compared to the same quarter last year VND billion % compared to the same quarter last year

132.1% 92.7% 44.7% 42.0% 61.5% 122.5% 118.1% 104.8% 45.3% 54.2% 72.8% 133.1%

(32.2%) (20.0%) 46.2%

35.1%

2,226 1,850 1,712 1,822

1,510 1,367 1,369 1,370 1,246
787 728 890

1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22

Gross Profit Leasing NOI(1) EBITDA

VND billion % compared to the same quarter last year VND billion % compared to the same quarter last year VND billion % compared to the same quarter last year

154.0% 97.5% 15.4% 29.5% 52.3% 168.6% 131.6% 101.0% 37.1% 40.2% 65.3% 143.7% 141.2% 110.6% 41.9% 36.3% 62.2% 139.5%

57.5% 49.4%
73.6% (28.5%) (33.3%)
(46.1%)

1,350 1,403
1,168 1,061 1,313 1,508
629 611 939 473 1,006 939
464 857 633
130 436 509
1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22

Note: Quarterly consolidated financial statements under VAS for 2021 and 1Q2022. These financial ratios have taken into account the impact of rent support (VND 464 billion in 1Q2022)
(1) NOI for leasing of investment properties and rendering of related services is calculated by taking total income from leasing activities and from other property-related services less any property-related operating expenses which include land lease costs but
exclude management expenses allocated from parent company
Consumers are returning to in-store shopping
VINCOM RETAIL 14
Quarterly Results 2Q2022

Footfall per month (Unit: Million visitors)

Footfall in 2Q2022
increased by 36% QoQ
13.6 13.8
12.8 12.7
12.4

10.9
9.8
9.3
8.7 8.5
8.1 8.1

6.4
5.8
5.0
4.4

2.1 2.3
Jan-21

May-21
Feb-21

Dec-21

Feb-22
Oct-21
Mar-21

Apr-21

Mar-22

Apr-22
Aug-21

Nov-21
Sep-21
Jun-21

Jul-21

Jan-22

May-22

Jun-22
Source: Company report as of June 30 2022;
 VINCOM RETAIL 15

Expansion of our shopping mall and tenant network Quarterly Results 2Q2022

Successful opening of 3 new shopping malls in 2Q2022

VMM Smart City VCP My Tho & Bac Lieu

• Opening date: April 28 2022
• Committed occupancy rate: 98%
• Occupancy rate at launch: 94%
• Opening date: June 10 2022
• Committed occupancy rate: 98%
(VCP My Tho) and 99% (VCP Bac Lieu)
• Occupancy rate at launch: 88% (VCP
My Tho) and 99% (VCP Bac Lieu)

Big tenants continue to negotiate their expansion strategy with Vincom Retail

Existing brands New brands

Source: Company report on June 30 2022;

(1) Number of projects in negotiation pipeline, subject to change
 Tailored approach to attract and improve experience
VINCOM RETAIL 16
Quarterly Results 2Q2022

for different customer segments

Check-in with the only life-size
Young generation racing car model in Vietnam

(GEN Y- Z) Trending Hashtag #Lendodimo

Series of events in the Vincom Mega
Mall Smart City opening – April 2022
Pioneer in trendy lifestyle
experiences and promote
34 million
communication through user- views on TikTok
generated contents in social
Fun experience with media
Tinder event
Wolfoo City –the first and only education- One of the first-ever Massage
Families entertainment complex in Vietnam therapy complex in a shopping mall

A weekend destination for 279,000 visits

families satisfying all needs
including dining – entertaining – to VMM Smart City from 28
shopping – relaxing Apr to 03 May

New generation of Vincom Mega Mall VINCOM RED SALE campaign 2022
opening event –VMM Smart City
Residents
Indoor river An everyday destination with 49.5 million reaches
Appear on giant flowing exciting events not to be • 1.4 million interactions
curved screen throughout the missed by residents in the
with FPT
Rapshow with
first floor
Vinhomes ecosystem • 227 large newspaper, 210++
Camera|IQ
Justatee, Phuong hotpage posts
Ly, Ngot , Hoang
Dung, Da Lab,… 12.7 million interactions
VND 220 bn in revenue
(132% YoY in 2Q2022)

Source: Company report on June 30 2022;

VMM Smart City – Comprehensive offering with
the latest shopping & lifestyle trends
Entertainment
• VS Racing – indoor mini F1 race track over 3,000
sqm
• Karaoke Studio version 4.0.
• Wolfoo City – animation of the cartoon
character Wolfoo
• Creative playground Kubo Nano.
• Mipa Golf with 3D golf simulator, apply the
newest SG Golf technology.
Shopping
3 supermarkets suitable for a variety of needs:
• Annam Gourmet with imported goods
• Kohnan Japan with minimalistic style
• WinMart
Trendy fashion & beauty brands such as Lyn,
Innisfree, Converse
VINCOM RETAIL 17
Quarterly Results 2Q2022
Dining
• “Culinary world” with most-loved brands
• Famous Korean hotpot grill restaurants (Dookki,
Daltable, Mr. Dakgalbi,..)
• McDonald’s with “river view”
• Popular snacks, dessert, milk tea chain loved by
young consumers like KOI thé, pho cuon
03
VINCOM RETAIL 18
Quarterly Results 2Q2022

Mid and
Long-term
Strategic Plan
VINCOM RETAIL QUARTERLY RESULTS 2Q2022
Continue our expansion plan, focusing on the new
VINCOM RETAIL 19
Quarterly Results 2Q2022

generation VMM model

Different design theme for each
2022 2023 2024 - 2026 2026 onwards mall

1.75 million ~ 2 million

Gross floor area (sqm) Gross floor area (sqm)

Vincom Mega Mall Vincom Mega Mall

Smart City (April 2022) Ocean Park 2 – The Empire ~ 3 – 3.7million
Gross floor area (sqm)

Vincom Plaza
~ 4.7 million
Vincom Mega Mall
My Tho (June 2022) Gross floor area
Grand Park
(sqm)

Vincom Plaza Vincom Plaza

Bac Lieu (June 2022) Ha Giang
Dien Bien phu
Dong Ha Quang Tri
…

Source: Proposed, original design image. subject to change

Focusing on Improving Customer Experience
VINCOM RETAIL 20
Quarterly Results 2Q2022

Affirm reputation in regional and international markets

VMM Ocean Park, honored as the best shopping mall in Vietnam 2022 at the Asia Pacific
Property Awards (APPA) and is continuing to compete for international awards (International
Property Awards - IPA) at the end of 2022.

Constantly improving design and customer experience

Additional utilities: parking, rests chairs, free phone chargers in the new generation shopping
mall models. Each shopping mall will be a story, an unique architectural design theme, and
focused on building an excellent customer experience, at the same time be a first choice for
flagship stores of major brands

Develop retail tourism projects

Located in Phu Quoc United Center complex of Vingroup – the leading resort and
entertainment complex in Southeast Asia with a scale of over 1,000 ha and a 24/7
entertainment – shopping – resort ecosystem, Grand World Phu Quoc possesses a magnificent
architecture, bustling and trendy commercial streets, and lively festivals all year round
04
VINCOM RETAIL 21
Quarterly Results 2Q2022

Financial
update
VINCOM RETAIL QUARTERLY RESULTS 2Q2022
Financial Performance in 2Q2022
VINCOM RETAIL 22
Quarterly Results 2Q2022

Figures in VND billion 2Q2021 2Q2022 YoY (%) Note

• 2Q2021 recognized a significant support package due to social distancing

Revenue from Leasing of Investment • 2Q2022 tenants returned to relatively normal business, so that the support
1,370 1,822 33.1
Properties and Rendering of Related Services package amount was minimalized
• 2Q2002 opened 3 new shopping malls: Smart City, My Tho, Bac Lieu

• 2 units were handed over in 2Q2022 compared to 16 units in 2Q2021, due to

the delivery cycle
Sale of Inventory Properties 96 8 91.3
• 2Q2022 VRE recognized deposits for 218 units in the 2 new projects, expected
to drive sales to increase again in 2023

• Reduced revenue from condotel management fee and brokerage

Other Revenue 45 19 58.5
commissions for shophouses after inventories being sold

Total Revenue 1,510 1,850 22.5

Gross Profit(1) 629 1,061 68.6

Operating Profit / (Loss) 465 939 102.0

Profit / (Loss) before Tax 483 959 98.5

Profit / (Loss) after Tax for the Period 388 773 99.5

Profit / (Loss) after Tax and

388 773 99.5
Minority Interest
Note: VAS Consolidated Quarterly Financial Statements in 2021, 2022
(1) Gross profit already subtracted D&A expenses relating to investment properties accounted for under VAS
Financial Performance in 1H2022
VINCOM RETAIL 23
Quarterly Results 2Q2022

Figures in VND billion 1H2021 1H2022 YoY (%) Note

Revenue from Leasing of Investment

Properties and Rendering of Related Services
3,082 3,069 0.4 • Social distancing affected revenue in 1Q2022

• 22 properties were handed over in 1H2022 compared to 126 properties in

Sale of Inventory Properties 548 93 83.1
1H2021. Properties eligible for handover expected to increase again in 2023

• Reduced revenue from condotel management fee and brokerage

Other Revenue 107 58 46.0
commissions for shop-houses after inventories being sold

Total Revenue 3,737 3,219 13.9

Gross Profit(1) 1,798 1,672 7.0

Operating Profit / (Loss) 1,425 1,421 0.2

Profit / (Loss) before Tax 1,463 1,460 0.2

Profit / (Loss) after Tax for the Period 1,168 1,151 1.5

Profit / (Loss) after Tax and

1,168 1,150 1.5
Minority Interest

Note: VAS Consolidated Quarterly Financial Statements in 2021, 2022

(1) Gross profit already subtracted D&A expenses relating to investment properties accounted for under VAS
Financial Performance in 2Q2022
VINCOM RETAIL 24
Quarterly Results 2Q2022

Total revenue Gross Profit(1)

VND bn VND bn
Gross Profit Margin (%)
50.8% 39.9% 47.6% 45.9% 40.6% 41.7% 57.4%

9,124 9,259 (84)

8,329 735 (164)
(47)
2,027
3,433 806 1,034
2,149 5,891 48 (116)
5,518
411
951 1,004 509
3,752 (1)
7,017 2,882 2,951 5
5,506 6,008 1,850 2,342 (39)
4,455 4,701 1,510 8 1,999 60
96 1,057
1,370 1,822 608

2017 2018 2019 2020 2021 2Q2021 2Q2022 2017 2018 2019 2020 2021 2Q2021 2Q2022
Leasing of Investment Properties Sale of Inventory Properties Other revenue Leasing of Investment Properties Sales of Inventory Properties Other revenue

Leasing Net Operating Income (NOI)(2) Profit After Tax and Minority Interest
VND bn VND bn

Leasing NOI margin (%)

69.6% 69.5% 70.6% 71.3% 67.7% 68.6% 74.1%

2,851
4,955 2,404 2,385
3,829 4,280 1,905
3,089 3,161 1,315
1,350 773
939 388

2017 2018 2019 2020 2021 2Q21 2Q22 2017 2018 2019 2020 2021 2Q21 2Q22

Note: Based on VAS Audited Consolidated Financial Statements for respective years and VAS Consolidated Financial Statements for 1Q2022
(1) Depreciation and amortization relating to investment properties should be added back (to Gross Profit) under IFRS.
(2) NOI for leasing investment properties and rendering of related services is calculated by taking total income from leasing activities and from other property related services less any property related operating expenses which include land lease costs but exclude management expenses allocated from parent
company
Financial Performance in 1H2022
VINCOM RETAIL 25
Quarterly Results 2Q2022

Total revenue Gross Profit(1)

VND bn VND bn Gross Profit Margin (%)

50.8% 39.9% 47.6% 45.9% 40.6% 49.3% 52.0%

4,404
9,124 9,259 (47) (84)
8,329 3,821
185 215 3,641 735 (164)
172
2,027 2,801
3,433 806 1,034
2,149 5,891 48
5,518
186 2,392 (116)
112 1,004 548 411
951 3,737 3,220 509 1,672
3,752 246 (58) 8
7,017 548 2,951 37
5,506 6,008 93 2,882
4,455 4,701 58 2,342 1,999 1,610 1,627
3,082 3,069

2017 2018 2019 2020 2021 1H2021 1H2022 2017 2018 2019 2020 2021 1H2021 1H2022

Leasing of Investment Properties Sale of Inventory Properties Other revenue Leasing of Investment Properties Sale of Inventory Properties Other revenue Total

Leasing Net Operating Income (NOI)(2) Profit After Tax and Minority Interest
VND bn VND bn

Leasing NOI margin (%)

69.6% 69.5% 70.6% 71.3% 67.7% 73.1% 71.8%

4,955 2,851
3,829 4,280 2,404 2,385
3,089 3,161 1,905
2,252 2,207 1,315 1,168 1,150

2017 2018 2019 2020 2021 1H2021 1H2022 2017 2018 2019 2020 2021 1H2021 1H2022

Note: Based on VAS Audited Consolidated Financial Statements for respective years and VAS Consolidated Financial Statements for 1Q and 2Q2022
Depreciation and amortization relating to investment properties should be added back (to Gross Profit) under IFRS. Since 2018,
(1) NOI for leasing investment properties and rendering of related services is calculated by taking total income from leasing activities and from other property related services less any property related operating expenses which include land lease costs but exclude management expenses allocated from parent company
Balance Sheet VINCOM RETAIL
Quarterly Results 2Q2022
26

Total Assets Total Borrowings, Cash and Cash Equivalents

VND Bn VND Bn

5,726
35,839 5,194
38,684 39,816 37,873 4,945
38,672

3,782
3,133 3,158 3,174
10,911 11,125 10,504 2,780 2,785
7,121 10,349
2,177

27,773 28,718 28,691 27,525 28,168

(2) (2)
31/12/2018 31/12/2019 31/12/2020 31/12/2021 30/06/2022 31/12/2018 31/12/2019 31/12/2020 31/12/2021 30/06/2022

Others Assets Investment Properties and Investment Properties Under Construction Borrowing Cash and cash equivalents

Owner’s equity Net Debt / Equity

VND Bn VND Bn
31,802
28,509 29,336 30,651
26,954 2.7%
2.3%

-1.2%
-2.0%

(2)
31/12/2018 31/12/2019 31/12/2020 31/12/2021 30/06/2022

-6.4%
(2)
31/12/2018 31/12/2019 31/12/2020 31/12/2021 30/06/20222

Note: Based on VAS Consolidated Financial Statements for respective years and VAS Consolidated Financial Statements for 2Q2022
(1) Investment Properties and Investment Properties Under Construction (IP/IPUC) are valued at development cost minus depreciation and amortization and are not fair value.
(2) Increase in other assets, cash and cash equivalents, total equity as well as increase in gearing ratio as of December 31, 2019 was due to the payment of cash dividends of VND 2,445bn in April 2019 and the buy back of 56.5 mil treasury shares completed in November 2019.
 05
VINCOM RETAIL 27
Quarterly Results 2Q2022

Appendix

VINCOM RETAIL QUARTERLY RESULTS 2Q2022

Trung tâm Nghệ thuật Đương đại Việt Nam (VCCA) - trung tâm nghệ thuật phi lợi nhuận do Tập đoàn Vingroup tài trợ với sứ mệnh kết nối nghệ sĩ với cộng đồng, tác phẩm nghệ thuật đến với công chúng và
nghệ thuật đương đại Việt Nam với nền nghệ thuật toàn cầu, tọa lạc tại Vincom Mega Mall Royal City, Hà Nội
Solidified Position as Dominant Retail Platform in VINCOM RETAIL
Quarterly Ressults 2Q2022
28

Vietnam
Prime Urban and High Growth Areas across the country Unique Multi – Format Retail Model
(Segmentation by GFA)

44 83 ~1.75 mm VINCOM CENTER VINCOM MEGA MALL

CITIES, PROVINCES OPERATING MALLS RETAIL GFA (sqm)

NORTH VIETNAM Location: City-center, CBD Location: In integrated,

(except Hanoi) 19
Retail GFA: 40,000 – 60,000 sqm mixed-use projects
Vincom Plaza 16 No. of Malls: 7 Retail GFA: 60,000 – 150,000+ sqm
HANOI 12 Total GFA: 280,000 sqm No. of Malls: 5
Vincom+ 3 Total GFA: 512,000 sqm
Vincom Center 5
4 16.1% of total GFA 29.3% of total GFA
Vincom Mega Mall
3 20
Vincom Plaza CENTRAL VIETNAM
VINCOM+ VINCOM PLAZA
Vincom Plaza 13

Vincom+ 7 Location: Medium-density, non CBD Location: High-density, CBD of cities

Retail GFA: 3,000 – 5,000 sqm Retail GFA: 10,000 – 40,000 sqm
HO CHI MINH CITY 13 No. of Malls: 15 No. of Malls: 56
Total GFA: 72,000 sqm Total GFA: 883,000 sqm
Vincom Center 2
1 SOUTH VIETNAM
Vincom Mega Mall (except HCMC) 19
4.1% of total GFA 50.5% total GFA
7 17
Vincom Plaza Vincom Plaza

Vincom+ 3 2 4 RETAIL MALL FORMATS

Vincom+
PROVEN AND SCALABLE RETAIL DEVELOPMENT PLATFORM
Notes: As of June 30, 2022. Number is rounded to the nearest thousand
Bridging VAS to IFRS
VINCOM RETAIL 29
Quarterly Results 2Q2022

VAS IFRS
Adjustments
1H2022 1H2022
Leasing revenue and other related services 3,069 37 3,106
Sale of inventory properties 93 - 93
Other revenue 58 - 58
Total revenue 3,219 37 3,256
Cost of leasing activities and other related services (1,442) 663(1) (779)
Cost of inventory properties sold (55) - (55)
Others (50) - (50)
Cost of goods & services (1,547) 663 (884)
Gross profit 1,672 700 2,372
Selling expenses (88) - (88)
General and administrative expenses (192) 36 (156)
Other income 40 - 40
Other expense (1) - (1)
Finance expense (178) (36) (214)
Finance income 207 19 226
Profit before tax 1,460 719 2,179
Tax expense (309) (144) (453)
Profit after tax 1,151 575 1,726

Note: Based on VAS Consolidated Financial Statements for 2Q2022 and conversion to IFRS by management, excluding impact from Investment Property and Investment Property Under Construction (IP/IPUC) revaluation gain/loss
(1) Mainly come from revert depreciation expense of Investment Property and reclassify prepaid expense to COGS
 VINCOM RETAIL 30
Quarterly Results 2Q2022

Investor Relations
Department
Vincom Retail JSC
7 Bang Lang 1, Vinhomes Riverside,
Viet Hung Ward, Long Bien District, Hanoi,
Vietnam
Tel: +84 (24) 3974 9999 ext. 9391
Fax: +84 (24) 3974 8888
Website: ir.vincom.com.vn/en
E-mail: ir@vincom.com.vn

VINCOM RETAIL QUARTERLY RESULTS 2Q2022