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ABOUT US

OVERVIEW

We are one of Vietnam’s largest consumer products companies with leading market share positions in the condiments andconvenience food categories. We have grown our product portfolio, domestic sales and distribution channels since 2000 tobecome a leader in Vietnam’s branded consumer food market in both the premium and mass-market segments. Our keybrands include Chin-su (soya, fish and chili sauces), Tam Thai Tu (soya sauce), Nam Ngu (fish sauce), and Omachi andTien Vua (instant noodles). With a reputation for quality, we are well-placed to expand our presence in other high-growthpackaged food categories.

Building upon our success in the food industry, we also plan to diversify our operations into other "fast moving consumergoods”, including beverages. To this end, in March 2011, we transformed Masan Food into a consumer platform andgrouped our food-related businesses within a newly formed, 100%-held entity called Masan Food.

Our business has grown considerably over the past several years, with particular success in our condiments and instantnoodles segments. Our revenue and net profit have grown from VND571bn and VND29bn in 2006 to VND5,586bn andVND1,253bn in 2010, respectively, representing respective compounded annual growth rates of 76.9% and 156.7%.

At Masan Consumer, our vision is to be:

Vietnam’s leading consumer company by sales, profitability and brand recognition

The destination for top talent and recognized as the best workplace in Vietnam

The symbol for quality and a source of pride among Vietnamese

HISTORY

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STRATEGY

SECTOR STRATEGY

Masan Consumer deploys a strategic framework in deciding "where to play”. Our sector selection criteria include:

Food and beverage categories where the market opportunity is large and there is a potential market size of at leastUS$500 million

Markets where we have the ability to build a premium brand and generate high margins (typical gross margins of at least30%)

Competitive landscapes where the market is dominated by state owned enterprises or is fragmented and there is a clearpath to consolidation

Markets where we can create value by product localization, through focusing on local taste and health

EXECUTION STRATEGY

Our execution strategy is to:

Come to market with a differentiated product

Create a premium brand and launch with a strong marketing effort

Leverage our extensive distribution platform and premium brand equity to penetrate mass market segments

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Employ and incentivize a world-class experienced management team by making them stakeholders in the business

FINANCIAL STRATEGY

We have a disciplined financial strategy. We:

Aim to achieve 30%+ gross margins which allows us to maintain our strong marketing strategy and reinvest in acquiringand consolidating business platforms to achieve a sustainable leadership position

Deploy low capital expenditure - we have an asset light entry strategy for new categories in order to focus on generatinga 25%+ ROE

Maintain a conservative balance sheet with leverage below 3x debt/EBITDA ratio in order to adhere to the standards ofa BBB credit rated company

Use a "cash on delivery” model, enabling us to optimize our working capital position and help fund our growth

GROWTH STRATEGY

We are focused on growing this platform to enable us to become a market leader:

In our existing categories, we focus on shifting consumers to premium brands and changing consumer behavior towardshigher consumption

We enter into high growth adjacent categories by leveraging premium brand halo and an underleveraged platform

We enter into new attractive categories that fit our sector strategy through inorganic growth

OUR PARTNERS

SHAREHOLDERS

INVESTOR CENTER

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NEWS

Masan Consumer Acquires 50.11% of Vinacafe Shares13 October 2011

Masan Group Raises US$159 Million with 10% Sale of MasanConsumer to KKR The Largest Ever Private Equity Transaction inVietnam1 January 2011

EARNINGS RELEASE

CORPORATE PRESENTATIONS

2010 Annual Report25 April 2011

2009 Annual Report29 April 2010

COMPANY RESEARCH

NEWS

PRESENTATIONS & REPORTS

FINANCIAL INFORMATION

With robust bottom line growth, combined with increasingly efficient working capital management, Masan can attain highlevels of cash conversion and generate strong cash flow.

Robust bottom line growth …

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… combined with increasingly efficient working capital management ...

… allows Masan to attain high level of cash conversion and generate strong cash flow

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Audited Financial Statements

Audited Financial Statement 2010

Audited Financial Statement 2009

AWARDS AND RECOGNITION

2010

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2009

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2008

2006

2005

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VIETNAM FOOD & BEVERAGE

Historically, Vietnam relied primarily on agriculture as a source of output, but has shifted towards a more market-orientedeconomy since the initiation of the "Doi Moi” (renovation) socialist-economic reform in 1986 and joining the World TradeOrganization in 2006. These market liberalizations have helped Vietnam become one of the fastest growing economies inthe region with an annual GDP growth rate (CAGR) of 19.6% between 2005 and 2009. The Vietnamese population hasbenefitted from the strong economic growth. Their increasing affluence has stimulated consumer spending per capita, whichrose by a CAGR of 19.7% between 2005 and 2009.

The Vietnamese economy is projected to be one of the fastest developing economies in Asia, largely propelled by having:

One of the youngest demographic profiles in Asia with high trainability; 68% of the country’s approximately 89 millionpeople are under 40 years of age

The second-largest real GDP growth in the region over the past 10 years with average growth of 7.2%

One of the world’s leading markets for consumer confidence with retail sales CAGR of 14.0% over 10 years and privateconsumption accounting for 64.3% of GDP in 2010

An investment-intensive economy with investments accounting for 41.9% of GDP in 2010

Continued commitment from global investors with FDI disbursement increasing by 10% to US$11 billion in 2010

Structural reforms that have improved Vietnam’s business environment and have supported growth in foreign andprivate investment

A Generous endowment of natural resources including oil, minerals and productive land

Political stability and openness to foreign direct investment

The Vietnamese economy recovered strongly in 2009 from the global financial crisis with real GDP growth of 5.3% perannum, the third fastest in Asia after China and India. Looking forward, Vietnam is expected to achieve stable real GDPgrowth rate of 6.9% in 2011, underpinned by strong growth in consumption, investment and exports coupled with measuresundertaken by the State Bank of Vietnam to curtail inflation.

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The packaged food and beverage market is expected to grow to US$16 billion by 2015, from US$12 billion in 2010.Currently, local and regional companies control the market with a market share of ~80%, driven by consumers’ preferencefor local products. The consumer goods sector in Vietnam is under penetrated; on a per capita basis, spending onpackaged foods and beverage is still relatively low compared to its emerging market peers. This is expected to grow asGDP per capita rises. In addition, other key growth drivers include:

A shift from unbranded to brand products

The emergence of modern trade;

A continued shift to premium products

Increasing demand for packaged/convenience foods

The rise of cold supply chain

BEVERAGES

ASIAN SPECIALTY DRINKS

Coming soon ....

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INDUSTRY REPORTS

Coming soon...

OUR PEOPLE

Truong Cong Thang Chief Executive Officer

Truong Cong Thang joined Masan Consumer in 2002 as Deputy General Director, and has served as CEO since 2008.Prior to joining Masan Consumer, Thang spent six years at Procter & Gamble Vietnam as Marketing Director where hesuccessfully launched some of their global brands in the Vietnamese market. At Masan Consumer, Thang has steered the company towards developing its domestic business and focusing itsinvestment in building premium brands. Thang graduated from Hanoi National Economics University.

Castillo SantosChief Operation Officer

Castillo Santos is a production and supply chain expert with 31 years’ experience, including 14 years at Unilever Vietnam.He joined Masan Consumer in 2008 and oversaw the expansion of our production facilities, including the installation of theworld’s first fully-automated fish sauce production line. Castillo has a Bachelor of Science degree in Chemical Engineering from the University of the Philippines.

Pham Dinh ToaiChief Financial Officer

Pham Dinh Toai joined Masan Consumer in 2009 and is currently our Chief Financial Officer and a board member. Prior tojoining Masan Consumer, Toai was Financial Analysis Director at Unilever Bestfoods Vietnam from 2002 to 2005, andFinance and Accounting Director at Unilever Vietnam from 2005 to 2009. Toai has a Bachelor’s degree in Corporate Finance and Accounting from the University of Finance and Accounting inVietnam. He also has a Bachelor’s degree in Information Technologies from Vietnam’s University of Technical Education.

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Dr. Pham Hong SonManufacturing Director

Dr. Pham Hong Son joined Masan Consumer in 2000 and is a board member. In addition to serving as our ManufacturingDirector, Dr. Son is the General Director of Masan Industrial, our primary manufacturing facility located in Binh Duongprovince. He has also served as General Director of our other manufacturing subsidiary. Dr. Son has a Bachelor of Science from Kharkov Polytechnic Institute, Ukraine, where he studied in the Faculty ofTransportation Machine Engineering. He also holds a PhD in Engineering from Kansai University in Japan, where hislaboratory focused on Fluid Dynamics & Biomechanics.

Le Thi NgaDirector of Masan Life Science

Le Thi Nga currently is the Director of the Masan Food Life Science Team. She is also a board member of MasanConsumer. Prior to joining the company in 1997, Nga spent seven years as a Technical Supervisor at the Nam DuongSauce Company, and three years as a Manufacturing Director at Viet Tien Food Company. She was also a Director from2000 to 2002 at Viet Tien Food Processing Joint Venture Company, and a Research and Development Director from 2003to 2007. Nga has a Bachelor of Science in Food Technology specialising in the technology of microbiological processing from theMoscow Technological Institute of Food Industry.

Nguyen Thi Thu HaSupply Chain Director

Nguyen Thi Thu Ha is a supply chain expert with 14 years of experience. Prior to joining Masan Consumer, Ha has held avariety of senior positions, including Planning Diretor, Supply Chain Manager and Logistics Manager across variouscompanies, such as Tan Hiep Phat, Unilever, Effem Foods, Novatis Pharma and Procter & Gamble. Ha has a Bachelor of Arts degree in Foreign Trade from University of Economics, Ho Chi Minh City.

Ho Bao LongChief Customer Officer

Ho Bao Long brings his 16 years of experience with various multi-national food and beverage corporations to MasanConsumer. Prior to joining Masan Consumer, he held various senior positions, including Sales Manager, Sales Director atUnilever Vietnam, Johnson and Johnson Vietnam, and Kimberly Clark Vietnam.Long holds a MBA from University of Florida, U.S.

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Nguyen Tuan VietMarketing Director

Prior to joining Masan Consumer, Nguyen Tuan Viet had established a strong & solid background with Unilever Vietnam inthe past 9 years. He had been with various strategic and well-loved brands such as Senior Brand Manager for P/S, GroupBrand Manager for Sunsilk, Group Brand Manager for total Omo and is the name behind many successful innovations andcampaigns of these brands.Viet graduated from University of Economics, major in Foreign Trade.

Truong Hoang LongHuman Resources Director

Truong Hoang Long has more than 14 years’ experience in Human Resources. He has worked across a range of industriesfor companies that include Maersk, Mead Johnson and Unilever. Before joining Masan Consumer, Long was the HRDirector of the Vietnam office of Computer Sciences Corporation (CSC), the world’s third largest software developmentcompany. There, he managed all HR activities for the company’s 650 employees and was instrumental in reducing staffturnover by 17% in two years. Long holds a Master’s of Management from Ho Chi Minh Open University and Solvay Business School of Belgium.

OUR PRODUCTS

FISH SAUCE

SOYA SAUCE

CHILI SAUCE

INSTANT NOODLES

BUSINESS

MARKETING

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OVERVIEW

Our branding and marketing strategies have been instrumental to the success of our business. As at December 31,2010, our marketing department consisted of 45 full-time employees divided into two groups: brand development andmarket operations.

BRANDING STRATEGY

We have adopted an umbrella brand strategy to reach a broad range of consumer groups. Each of our principal productlines has a premium brand ( Chin-su brand for sauces and the Omachi brand for instant noodles) and a mass-marketbrand (Nam Nu brand and Tam Thai Tu for sauces and Tien Vua for noodles), meeting the demands of customers ofdifferent levels of affluence. The introduction of product variants further permits us to sell to consumers in differentregions and with varying tastes.

We actively defend our brands from infringement and reselling by third parties. We also monitor the products of ourcompetitors through our distribution network. Should we learn of material infringement of our trademarks, we will take allnecessary steps, including legal action, to protect our brand image.

MARKETING STRATEGY

Our primary means of reaching our target consumers are television advertisements, which are generally 15 or 30 secondcommercial spots that focus on the health benefits, taste and affordability of our products. In 2010, Masan Consumerhad more than 21,700 television commercial spots nationwide.

To reach rural consumers, we advertise through more than 16 newspapers and magazines with a combined circulationof approximately nine million copies in 2010, reaching more than 61% of our customer base.

We also advertise through radio, building banners, bus stops in key cities and advertisement spreads on the sides ofbuses. Additionally, we market our products with a variety of other activities such as outdoor campaigns and in-storepromotion events.

PRODUCT MANAGEMENT STRATEGY

Our product management strategy has been fundamental to our success. We manage our current portfolio of brands byproduct segment and, within each product segment, by target market.

We have a common branding strategy, for instance, using Chin-su as an umbrella brand for premium soya, fish and chilisauces. This maximizes the value of our brands, establishes a reputation for premium quality across our products, andgenerates economies of scale in advertising and promotion.

SALES AND DISTRIBUTION

OVERVIEW

We have developed a pan-national distribution network with over 141,000 points of sale, covering all of Vietnam’s 64provinces. Our network includes all major modern trade channels, such as hypermarkets, supermarkets, and conveniencestores, as well the traditional, primarily independent local operators. At the end of 2010, we had established exclusiverelationships with 168 distributors and 1,453 dedicated salesmen throughout Vietnam.

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We operate five distribution centers, strategically located in the Binh Duong, Tan Binh, Da Nang, Hung Yen and Hai Duongprovinces to provide our distributors with products within 24 hours of an order being placed. These distribution centerscollectively handled 455,000 pallets in 2010. To support our distributors throughout Vietnam, we provide them with regionalexclusivity and work closely with them to ensure the effectiveness of their sales force and smooth coordination.

DISTRIBUTION MAP

The map and table below show the location of the distribution centers throughout Vietnam and provides a summary of thenumber of distributors, salesmen and points of sale by region as of December 31, 2010:

Same day delivery of our entire product portfolio anywhere in the country

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DISTRIBUTION FLOW

One of only a few companies with direct outreach to rural areas

LIFE SCIENCE

OVERVIEW

Our in-house research and development team, Masan Consumer Life Science is comprised of approximately 50

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employees tasked with improving the range and quality of our products. The Life Science team works closely with ourmarketing team to develop products that meet the demands of Vietnamese consumers, such as the Omachi dry noodleswith spaghetti sauce that we introduced in 2010 to target customers in the premium segment.

Masan Life Science aims to enhance Masan Consumer’s competitive position and reputation as one of the most uniqueand effective food companies in Southeast Asia by providing high value and superior quality products.

Masan Consumer’s ability to innovate is evidenced by numerous successful developments, which include:

"Low-salt” Chin-su sauce

"No-urea” Nam Ngu sauce

"Zero trans-fat oil” and "No color chemical dyes” for Tien Vua noodles

Omachi noodles mixed with spaghetti sauce

Masan Life Science Center is one of the most advanced R&D centers in Vietnam. The Life Science division has developedseven new formulas to date that do not exist in the seasoning processing industry, and has the capability to launchapproximately 30 new products each year.

NEAR TERM OBJECTIVES

PRODUCTION

We currently operate four production facilities, at Binh Duong, Tan Binh, Phu Quoc and Hai Duong, with a total of 23production lines. These facilities allow us to manufacture products with consistent taste and texture, further strengtheningthe quality of our brands.

We are expanding our Binh Duong facility to accommodate the increase in sales volume we have experienced since 2007and we expect that it will become our principal production facility in 2011 once the expansion is completed. The initial phaseof this expansion was completed in 2010 and was dedicated to automating the fish sauce production line.

An additional facility in Hai Duong was completed in June 2009 and production of instant noodles commenced in 2009. Wedo not engage in contract manufacturing or outsourcing of our production to third parties. This enables us to keep strictcontrol over the quality and output of our sauce and instant noodle products.

The table below provides an overview of each of our facilities:

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MATERIAL PROCUREMENT ORGANIZATION(MPO)

KEY RAW MATERIALS

For sauces: anchovies, dehydrated vegetables, soy, chilies, and various flavorings and spices

For instant noodles: flour, palm oil, dehydrated vegetables, and various flavorings and spices

Packaging materials such as paper labels, carton boxes, polypropylene or paper-based cups/bowls, plastic bags andglasses are significant components in the production cost

PROCUREMENT STRATEGY

Our purchasing department (MPO) at our Ho Chi Minh City headquarters is responsible for sourcing and negotiating withsuppliers for all of our raw materials. Our subsidiaries then enter into the agreements with our suppliers negotiated by thepurchasing department.

Our purchasing department is also responsible for developing and maintaining the optimal number of reliable suppliers tomeet our requirements. The department currently procures raw materials from over 60 suppliers under long-term contractsto ensure consistency and high quality. Suppliers whose long-term performance record with us demonstrates reliability areconsidered "approved suppliers” and will continue to be engaged under long-term contracts. This strategy helps us tominimize the risk of working with suppliers who under-perform by missing deliveries, supplying materials of inconsistentquality or that are not in conformance to specifications, or unexpectedly increasing prices.

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