Masan Consumer Achieved Net Profit Post MI of VND780 billion in 1Q2018, Increase of ~6.5x as a Result of Higher Sales and Increased Profit Margins

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1 FOR IMMEDIATE RELEASE Masa Cosumer Achieved Net Profit Post MI of VND780 billio i 1Q2018, Icrease of ~6.5x as a Result of Higher Sales ad Icreased Profit Margis Ho Chi Mih City, 24 April 2018 Masa Cosumer Corporatio (HNX-UPCoM: MCH, Masa Cosumer, ad the Compay ), reported its maagemet accouts for the first quarter of 2018 today. MCH s 1Q2018 et reveue icreased by 74.9% to VND3,496 billio compared to 1Q2017 reveue of VND1,999 billio, as a result of premiumizatio ad iovatio of seasoigs ad coveiece foods, ad cotiued mometum i beverage ad processed meat. Stock levels were maitaied at a optimal level of 2-3 weeks, same as YE2017. I additio, MCH was able to cut back o trade promotio expeses ad ivest more ito buildig brads, as a result, EBITDA icreased by 347.0% durig 1Q2018 to VND1,005 billio compared to VND225 billio durig same period last year. With greater ivestmet i marketig, MCH is ow a top 3 advertiser i Vietam. VND Billio 1Q2017 1Q2018 Growth 18 vs. 17 Net Reveue 1 1,999 3, % Seasoigs 764 1, % Coveiece Foods % Processed Meat % Coffee % Beverages % Others % Gross Profit 848 1, % SG&A % EBITDA 225 1, % NPAT Post-MI % Gross margi 42.4% 48.2% %SG&A over et reveue 39.8% 24.5% EBITDA margi 11.2% 28.8% NPAT Post-MI margi 6.0% 22.3% Seasoigs growth backed by recovery of core brads ad premium iovatios lauched i 2017: Seasoigs et reveue i 1Q2018 icreased by 104.8% to VND1,565 billio from VND764 billio i 1Q2017. Reveue growth was backed by recovery of core brads, Nam Ngu ad Chi-su, as volume cotributed 74% of the growth, with the rest from higher ASP s. Notably, clear sigs of cosumers up-tradig from the strog volume growth of Chi-su fish sauce of 323% compared to the growth of 78% i Nam Ngu fish sauce. Soya sauce saw the same tred i which, volume sales from Chi-su brad (up 1 These umbers are based o maagemet figures. 2 Icludes istat oodle ad istat cogee 3 Icludes utritio cereals ad exports 1

2 136%) grew much faster tha Tam Thai Tu brad (up 29%). Moreover, ew premium fish sauce lauched i 2017 icludig Nam Ngu Phu Quoc (lauched i 2Q2017), Nam Ngu Nha Vag (lauched i 4Q2017) ad Chi-su Ma Ma (lauched i 4Q2017) allowed Masa to gai 1.5% i additioal market share i fish sauce i 1Q2018 compared to 1Q2017, resultig i higher cotributio of premium products to total fish sauce sales (up from 4% i 1Q2017 to 15% i 1Q2018). All of these products are priced at 1.5 3x premium compared to the maistream portfolio ad are a part of MCH s strategy to uptrade its cosumer base. Distributor stock levels withi seasoigs category were VND360 billio as of ed-march 2018, compared to VND494 billio as of YE2017, ad VND763 billio as of ed-march As the stock levels were ot icreased ad 1Q2017 sales to distributors ( sell-i ) was impacted by destockig iitiatives, sell-out growth was the real driver for improved performace, as sell-out growth for 1Q2018 was 65% for the category of which volume cotributed more tha 50% of the growth. Maagemet estimates FY2018 reveue will be betwee VND6,000 ad 7,000 billio, supported by premiumizatio ad iovatio of core portfolio. Cotiued strog mometum i coveiece foods due to recovery of core brads ad ew iovatio i meal solutio: Coveiece foods reveue was up by 63.7% to VND976 billio i 1Q2018, compared to VND596 billio i 1Q2017. Volume growth was the mai driver for this segmet, cotributig 90% to 1Q2017 growth. Sell-out growth was robust at 52% durig the quarter, while distributor ivetory was lower at VND152 billio as of ed-march 2018, compared to VND172 billio at YE2017 ad VND218 billio as of ed-march Retur to growth has bee supported by higher sales i premium segmets with Omachi sell out up by 89% i 1Q2018 vs. 1Q2017. Omachi cup oodle with meat further validates our iovatio strategy of deliverig meal solutios ad ow represets 7-8% of Omachi sales overall vs. approximately 3% i 4Q2017 (the first quarter of lauch). The lauch of a ew brad targetig milleials ad the expasio ito adjacet categories like premium special oodle that ca provide further impetus to category growth. Maagemet expects coveiece foods sales to reach approximately VND4,500 billio i FY2018. Processed meat growth mometum drive by Heo Cao Boi sausage: Processed meat represets oe of the fastest growig categories for MCH. After growig early ~6x i FY2017, the category is expected to double reveue i FY2018. Growth is primarily drive by Heo Cao Boi umbrella brad, sellig primarily sausages i I December 2017, MCH lauched Heo Cao Boi 3-Miute Meat Ball to broade the umbrella brad s processed meat portfolio ad cover meal solutios. Expected lauch of premium sterilized sausages i 1H2018 would further solidify positio withi this category ad expad our meat sack portfolio. I additio, upcomig JV with a Korea parter i 2Q2018 ca further drive growth by leveragig the parter s state of the art techology ad kowhow. Maagemet expects processed meat sales to grow to a VND500 billio plus category i FY2018. Coffee et reveue up 79.5%: MCH s coffee category (excludig Wake-Up 247, which is covered uder beverages) recorded VND298 billio i et reveue for 1Q2018, up 79.5% compared to VND166 billio i 1Q2017, with early all of the growth attributable to icreased volumes. Sell-out growth was healthy at 16% as stock levels declied to VND122 billio as of ed-march 2018, compared to VND201 billio as of YE2017. FY2018 sales for coffee category are expected to reach VND1,700 2,000 billio. 2

3 Beverages reveue icrease drive by high growth i eergy driks: Net reveue for beverages was VND514 billio i 1Q2018, growig by 41.7% compared to 1Q2017, maily drive by the 75.7% icrease i eergy driks to VND358 billio i 1Q2018 from VND204 billio i 1Q2017. This growth i eergy driks was drive by expadig Wake-up 247 s distributio atiowide ad its strog brad recogitio. Sell-out growth was 32% durig the quarter with ivetory levels maitaied at VND82 billio as of ed-march 2018, compared to VND62 billio as of YE2017. A ew eergy drik brad Compact was lauched i April 2018 to further grow market share i this fast growig category. All i, maagemet expects beverages to deliver approximately VND3,000 billio i sales i FY2018. Distributor Stock Level VND Billio 4 4Q2016 1Q2017 4Q2017 1Q2018 Distributor Stock Level 5 2,028 1,391 1, Distributor Stock Days % Marketig over reveue 5% 4% 7% 8% % Sales over reveue 10% 21% 8% 7% EBITDA Margi 29% 11% 27% 29% % % 10% 8% 9% 9% 10% 5% 5% 4% 7% 14% 4% 11% 7% 8% 8% 7% 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 % Marketig ivestmet % Sales ivetmet Ivetory days Profitability aalysis: completio of de-stockig iitiative leads to sigificat growth i margis Gross margi icreased by 577 bps to 48.2% for 1Q2018 thaks to premiumizatio i seasoigs ad coveiece foods, higher growth i higher margis products specifically seasoigs ad eergy driks, offset by higher raw material prices. 1Q2018 EBITDA margi was up to 28.8% compared to 11.2% i 1Q2017 maily due to the completio of the de-stockig iitiative ad related costs, SG&A expeses for MCH reduced sharply from 39.8% of sales i 1Q2017, to 24.5% of sales i 1Q Iformatio is based o maagemet figures/calculatios ad is ot audited. 5 Distributor Stock Level is the ivetory value (based o MCH sell i price) held by MCH s distributors. 6 Distributor Stock Days is calculated by dividig Distributor Stock Level by sales to cosumers ( Sell out ) for the followig quarter multiplied by 90. 3

4 Masa Cosumer, achieved et profit after tax post miority iterest of VND780 billio i 1Q2018 vs. VND120 billio i 1Q2017, a icrease of ~6.5x as a result higher sales ad icreased profit margis is expected to deliver toplie ad bottom-lie growth above 30% ad 50%, respectively: Subject to et reveue achievig maagemet 2018 forecasts, MCH is expected to deliver similar gross margis ad achieve EBITDA of over VND4,000 billio i FY2018, up over 30% versus FY2017. The Compay is expected to achieve NPAT Post-MI of VND3,100 to VND3,400 billio for FY

5 MASAN CONSUMER CORPORATION Masa Cosumer Corporatio (HNX-UPCoM: MCH), a subsidiary of Masa Group Corporatio, is oe of Vietam s largest braded food ad beverage compaies with market leadership i large cosumer categories such as seasoigs, coveiece food, ad beverages. Masa Cosumer Corporatio s portfolio icludes some of Vietam s most trusted ad loved brads such as Chi-su, Nam Ngu, Tam Thai Tu, Omachi, Kokomi, Viacafe, Wake-Up, Vih Hao, ad Quag Hah. CONTACTS: Ivestors/Aalysts Taveer Gill T: E: taveer@ms.masagroup.com Media Va Nguye T: E: va.guye@ms.masagroup.com This press release cotais forward-lookig statemets regardig Masa Cosumer s expectatios, itetios or strategies that may ivolve risks ad ucertaities. These forward-lookig statemets, icludig Masa Cosumer s expectatios, ivolve kow ad ukow risks, ucertaities ad other factors, some of which are beyod Masa Cosumer s cotrol, which may cause Masa Cosumer s actual results of operatios, fiacial coditio, performace or achievemets to be materially differet from those expressed or implied by the forward-lookig statemets. You should ot rely upo forward-lookig statemets as predictios, future evets or promises of future performace. 5

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