577 INVESTMENT CORPORATION

PROSPERITY, SUCCESS
Presentation
March 2015
TABLE OF CONTENTS
PROSPERITY, SUCCESS

Section 1: Introduction to NBB

Section 2: NBB’s Projects
Section 3: Business corporation
Section 4: Orientation and Plan
Section 5: Highlights

04 – 07 – 2005 *** 04 – 07 – 2015

 SECTION 1
INTRODUCTION TO NBB
 MILESTONE
PROSPERITY, SUCCESS

Public offering for existing shareholders

Start Charter capital: 358.6 -> 537.2 VNDbn
Private placement for Creed
04/07/2005
Charter capital: 537.2 -> 583.2 VND bn
NBB established

IPO: Charter capital

35 -> 154 VNDbn 2005
Present

2007
2014

2009

NBB stocks 2010 2013

listed on HSX 2011

Awarded Third Class Labour Medal Public offering for existing shareholders
by VN President Charter capital: 180 -> 358.6 VNDbn

Private placement for Beira Ltd –VN DWS Fund

Charter capital: 154 -> 180 VNDbn
OVERVIEW
PROSPERITY, SUCCESS
• Main business lines: Real Estate, Mining/Infracstructure, Industrial Manufacturing
• Charter capital: 583,212,200,000 VNDb (~ 27 USDmil), Total listed shares: 58,321,200
• Market capitalization (as of 17/03/2015): 1,225VNDbn (~ 57 USDmil)
• Foreign ownership: 43%
• List of major shareholders:
December/2014 December/2014 20March/2015
No Name Shares Proportion Proportion
1 Doan Tuong Trieu & his family 11,508,360 19.79% 19.79%
2 Beira Limited 7,800,000 13.41% 13.41%
3 Vietnam Property Holding 5,519,605 9.49% 7.94%
4 CII 5,541,805 9.52% 18.04%
5 Vietnam Holding Limited 4,095,635 7.04% 4.07%
6 Creed Investments VN-1 LTD 3,803,340 6.54% 6.54%
NBB stock performance from 1st trading day to March 2015
Shareholding structure

Internal shareholders
27% 30%
Foreign shareholders
Domestic shareholders

43%
FINANCIAL PERFORMANCE
PROSPERITY, SUCCESS

VNDmil

3500 3139
3031 3084
3000
2543
2350
2500
2000 Total assets
1500
1077
Net revenue
1000 Profit after tax
484 413
500 289 231
203
118
69
0 24 36
2010 2011 2012 2013 2014

Indicators Y2013 (VNDbn) Y2014 (VNDbn) +/- (%)

(unaudited)

Total assets 3084 3138 2%

Net revenue 203 231 14%
Profit after tax 24 36 50%
Bank loans 1134 891 -21%
Dividend payout ratio 10% 10% 0%
OPERATION NETWORK
PROSPERITY, SUCCESS

• HEAD OFFICE: in HCMC

• 4 BRANCHES:
1. Northern Branch: in Quang Ninh
2. Quang Ngai Branch: in Quang Ngai
3. Binh Thuan Branch: in Binh Thuan
4. Southwest Branch: in Bac Lieu

• 5 SUBSIDIARIES:
1. NBB Industrial JSC (NBI): in Da Nang City
2. Quang Ngai Mineral Investment JSC (QMI): Quang
Ngai
3. Quang Ngai NBB One Member Co Ltd: in Quang Ngai
4. Huong Tra Co Ltd: in Quang Ngai
5. Hung Thanh Construction – Commercial – Service -
Manufacturing Co Ltd: in HCMC

• 3 ASSOCIATES:
1. Tam Phu Co.: in Quang Nam
2. 533 Quang Binh Investment Co Ltd: in Quang Binh
3. Da Den Hydroelectric Investment Co Ltd: in Phu Yen
AWARDS
PROSPERITY, SUCCESS

 Third Labour Medal by President for NBB and for Mr

Doan Tuong Trieu - Chairman & CEO (2010)

 BCI Asia Top 10 Awards for most dynamic real estate

developers in Southeast Asia (2011)

 Top 15 Fastest Growing Companies in Pacific Asia

during 5 recent years by CNBC (2011)

 Top 500 Major Vietnamese Companies by VNR (2012)

 Top 1000 Enterprise of Tax Contribution (2012)

Merit Awards by Prime Minister, Ministry of

Transport, Vietnam General Confederation of Labour …
for excellent performance…
 SECTION 2
NBB PROJECTS
 NBB PROJECTS
PROSPERITY, SUCCESS

NBB land distribution of real estates projects by geography (Unit: Hectare)

400 336
300
217
200
109 94
100 58 50
10
0
Quang Ngai Binh Thuan Quang Ninh Quang Nam HCMC Bac Lieu Quang Binh

Distribution of NBB real estate projects in HCMC

CITY GATE TOWERS, CARINA PLAZA, DIAMOND RIVERSIDE LOCATION
PROSPERITY, SUCCESS

LOCATION : Ward 16, District 8, HCM City

• The East is bordered by : Road planning (12 m)
• The West is bordered by : Vo Van Kiet Avenue (60 m)
• The South is bordered by : Internal lateral road (60 m)
• The North is bordered by : Road planning (12 m)

DISTRICT 11 DISTRICT 1
DISTRICT 5

Binh Tay Market

DISTRICT 6

DIAMOND
7km
RIVERSIDE RMIT
CARINA
PLAZA

Trieu An Hospital DISTRICT 8

CITY GATE TOWERS

11
NBB III PROJECT LOCATION
PROSPERITY, SUCCESS

LOCATION : Ward 16, District 8, HCMC

 East is bordered by : Existing residential areas.
 West is bordered by : Production zone.
 South is bordered by: Existing residential areas.
 North is bordered by: Ruot Ngua canal.

DISTRICT 1
DISTRICT 11

DISTRICT 5

DISTRICT 6

RMIT
4km
DISTRICT 8
NBB II PROJECT LOCATION
PROSPERITY, SUCCESS

LOCATION : Tan Kien Commune, Binh Chanh Dist, HCM City.

The East is bordered by : Cay Bang St.
The West is bordered by : Cai Trung St.
The South is bordered by : Hung Nhon St.
The North is bordered by : Vo Van Kiet Avenue extending.

Project
Location

Giao lộ Võ Văn Kiệt – QL 1A

13
NBB IV PROJECT LOCATION
PROSPERITY, SUCCESS

LOCATION : Tan Kien Commune, Binh Chanh Dist, HCM City.

East is bordered by : Internal Road.
West is bordered by : Internal Road.
South is bordered by : Internal Road.
North is bordered by : Tran Dai Nghia Street.

Mien Tay Bus Station

Project
Location

14
 PROJECTS SUMMARY
PROSPERITY, SUCCESS
Real estate projects

Amount
Site
Owned Invested to
No. Project name Location Type area Project status Compensation
by NBB Date
(ha)
(VNDbn)

Northern Phan
Complete in 2011.
Thiet Residential Residential
1 Binh Thuan 100% 41.3 Profit after tax: 100% 309.3
and Commercial land
84.4VNDbn
Center

Complete investment
Ward 2 - Bac Lieu Residential
2 Bac Lieu 100% 50.2 & selling (2012 lots) in 100% 289
Residential Area land
2014

Complete investment
High-rise
3 Carina Plaza HCMC 95% 1.9 & selling (736 units) in 100% 912
apartment
2014

Under construction.
Son Tinh Residential Residential
4 Quang Ngai 100% 102.6 Already sold 352/2965 74.5% 281
Area land
lots
 PROJECTS SUMMARY
PROSPERITY, SUCCESS
Real estate projects

Amount
Site
Owned Invested
No. Project name Location Type area Project status Compensation
by NBB to Date
(ha)
(VNDbn)

Under construction.
High-rise
5 City Gate Towers HCMC 95% 1.9 Already sold 70/1092 100% 454
apartment
units

Total 1668 units. Start

NBB I (Diamond High-rise construction in
6 HCMC 20% 4.1 100% 208
Riverside) apartment Q3/2015. Start selling
in 2016

Apartment Under compensation

7 NBB II HCMC 70% 11.5 83% 651
Townhouse (~380VNDbn)

High-rise Under compensation

8 NBB III HCMC 63% 8.1 87% 420
apartment (~250VNDbn)
PROJECTS SUMMARY
PROSPERITY, SUCCESS
Real estate projects

Amount
Site
Owned by Invested
No. Project name Location Type area Project status Compensation
NBB to Date
(ha)
(VNDbn)

Apartment, Under
NBB IV (Tan Kien
9 HCMC townhouse, 70% 30.1 compensation 62% 296
Complex)
villa (~282VNDbn)

Under
Residential
10 Thuy San Hill Villa Quang Ninh 60% 32.1 compensation 12% 16
land
(spent 6VNDbn)

Under
Don Dien Tourism
11 Quang Ninh 60% 77.1 compensation 0 28
Ecotourism Area Area, villa
(spent 22VNDbn)

De Lagi High-class Under

12 Binh Thuan Resort, villa 100% 216.3 0 8
Resort compensation
PROJECTS SUMMARY
PROSPERITY, SUCCESS
Real estate projects

Site Amount
Owned
No. Project name Location Type area Project status Compensation Invested to
by NBB
(ha) Date (VNDbn)

Tourism Area, Under

13 Ruby Golf Villa Quang Ngai 100% 233.4 0 1
villa compensation

Commercial Houses
Commercial
14 at Duc Ninh Dong Quang Binh 40% 10.3 Under legal process
house
Ward
PROJECTS SUMMARY
PROSPERITY, SUCCESS
Non real estate projects
Owned by
No. Project name Location Type Project status
NBB
BOT Phan Rang – Thap
1 Ninh Thuan Toll Bridge 36% Sold to CII in 2013 (51VNDbn)
Cham Bypass

2 BOT Rach Mieu Bridge Ben Tre Toll Bridge 100% Sold to CII in 2014 (41.59VNDbn)

1 titanium plant & 1

Quang Ngai Mineral In operation. Planning to exit in 2014-
3 Quang Ngai titanium mine 90%
Investment JSC 2015

Da Den Hydroelectric
4 Phu Yen Hydroelectric Plant 100% In progress to exit in 2014-2015
Plant
In operation (20% utilization).
Da nang Auto Parts
5 Da Nang Auto Parts Factory 80% Planning to exit in 2015, NBB keeps
Production Factory
51%

6 Tazon Stone Mine Binh Thuan Stone Mine 100% In operation

7 NBQ Company Quang Ngai Granite Factory & mines 100% In operation

Tra Bong Mineral Quang Ngai Hot mineral water mine

8 89.1% In legal process
Water Mine

Note: Granite/Stone mines provide input materials for NBB’s real estate projects & for sales
REPRESENTATIVE SUCCESSFUL PROJECTS
PROSPERITY, SUCCESS

1. Northern Phan Thiet Residential Area and Commercial Center, Binh Thuan
province (2005-2010)
 Location: Phan Thiet city center
 Site area: 41.39ha
 Project type: Residential land lots
 Total investment capital: 309.3 VNDbn
 Project current status: successfully complete.
 Sales: 100%,
 Total investment capital saving: 7.04%,
 Profit after tax: 84.42 VNDbn, exceeding 162.67% compared with plan
REPRESENTATIVE SUCCESSFUL PROJECTS
PROSPERITY, SUCCESS
2. Carina High-rise Apartments
 Location: Vo Van Kiet Avenue, Ward 16, District 8, HCMC
 Site area: 1.94 ha, Plot ratio: 4.4 times
 Project structure:
 3 blocks of 736 units: two 14-floor blocks and one 20-
floor block ,
 a basement,
 a 4-floor commercial center & service: 9,000 m2
 Target customers: mid-end segment
 Construction period: 2009-2011
 Total investment capital: 927 VNDbn
 Average sales price: 15-18mVND/m2
 Project current status: successfully complete
 Sales: complete in 2014.
 Handover Apartment Ownership Certificate: from 2014
REPRESENTATIVE SUCCESSFUL PROJECTS
PROSPERITY, SUCCESS
3. Residential Area of Ward 2, Bac Lieu
 Location: Ward 2, Bac Lieu City, Bac Lieu Province
 Site area: 50.2 ha, Site coverage: 40%
 Project type: Residential land lots
 Project structure:
 2,012 units of 203.375,9 m2
 70,320 m2 of Commercial center and services
 Total investment capital: 368 VNDbn
 Profit margin: 40%
 Average sales price: 2.2-2.5VND/m2
 Project current status: complete successfully

4. BOT Phan Rang – Thap Cham Bypass, Ninh Thuan province

 Location: Phan Rang, Thap Cham, Ninh Thuan province
 Developers: NBB & CII
 Total investment capital: 548.05 VNDbn,
of which BOT capital is 30% (~165 VNDbn).
 Status: Completed & applied tolling since May 2013
 Dec 2013: NBB completed transferring its capital to CII.
 Total transfer value: 51 VNDbn, profit: 29 VNDbn.
REPRESENTATIVE SUCCESSFUL PROJECTS
PROSPERITY, SUCCESS

5. BOT Rach Mieu Bridge, Ben Tre province

 Location: Hedge of Tien Giand and Ben Tre province

 Developers: NBB & CII
 Total investment capital: 1,311.61 VNDbn of which BOT capital is 39.6% (~519.39 VNDbn).
 Status: Applied tolling since April 2009
 Quarter 1/2014: NBB completed transferring its capital to CII. Total transfer value: 41.59 VNDbn.
 SECTION 3
BUSINESS CORPORATION
CORPORATION WITH CII IN DIAMOND RIVERSIDE (NBB I) PROJECT
PROSPERITY, SUCCESS
 Corporation proportion: NBB 20%, CII 80%
 Developer: NBB
 Profit distribution: NBB 20%, CII 80%
 Location: Vo Van Kiet Avenue, Ward 16, District 8, HCMC
 Site area: 4.15 ha, Plot ratio: 5 times
 Project structure:
 Four 29-floor blocks of 1668 units (64-84 m2/unit)
 a 4-floor commercial center & service: 5,315 m2
 Target customers: mid-end segment
 Investment period: 3-4 years
 Total investment capital: 2,675 VNDbn
 Project current status: applying for Adjusted 1/500 Master plan
BUSINESS CORPORATION WITH CREED GROUP
PROSPERITY, SUCCESS

Profile of Creed Group (Japan):

 Founded in Tokyo in 1996
 Line of businesses: Real Estate and Finance
 Managing asset value of US$ 5 billion worldwide
 Developed 22 properties in major cities in Japan with total gross develop value reaching US$ 800 million.
 Operation region: Japan, Singapore, Korea, Germany, Malaysia, Myanmar, Cambodia, Vietnam, Bangladesh …
 City Gate Towers project is Creed’s FIRST investment in Vietnam.

Corporation scope:
 Company level:
+ Holding NBB stocks through private placement: 4,6mil (~20,000VND/share)
 Project level:
+ City Gate Towers
+ NBB III
+ NBB II
BUSINESS CORPORATION WITH CREED GROUP
PROSPERITY, SUCCESS

Corporate in City Gate Towers project

 Corporation proportion: NBB 20%, CRD 80%

 Profit distribution: NBB 20%, CRD 80%
 Corporation land price (reassessed): 14 mVND/m2
 Deal structure: Project bond issuance of up to 600VNDbn
 Coupon: 10% p.a, paid semi-annually only when project
has positive cash flow (Total coupon paid = 80% profit)
 Location: Vo Van Kiet Avenue, Ward 16, District 8, HCMC
 Site area: 1.93 ha, Plot ratio: 6.7 times
 Project structure:
 Four 28-floor blocks of 1092 units (67-86 m2/unit)
 a 4-floor commercial center & service: 3,106 m2
 Target customers: mid-end segment
 Complete construction: 2017
 Total investment capital: 937 VNDbn
 Project current status: Finish piling, start basement
construction, started selling 1 block from Dec 2014
BUSINESS CORPORATION WITH CREED GROUP
PROSPERITY, SUCCESS

• Corporate in NBB III project:

 Corporation proportion: NBB 50%, CRD 50%
 Corporation land price (reassessed): 6.7 mVND/m2
 Expected deal structure: Project bond issuance
 Estimated contract signing time: up to June/2015
 Estimated project commencement: June-Dec/2015

• Corporate in NBB II project:

 Corporation proportion: NBB 50%, CRD 50%
 Corporation land price (reassessed): not lower than
book value
 Estimated contract signing time: 2016
 SECTION 4
ORIENTATION AND PLAN
2013 – 2015 RESTRUCTURE PLAN
PROSPERITY, SUCCESS

• Restructure financial structure, stabilize cash flow, ensure due financial obligations :
+ Extend & renew loans of 1,000 VNDbn, convert short-term loans into long-term loans
+ Continually arrange new credits plan in 2013 while all of the banking system is very limited lending to
the real estate business
+ Capital raising through:
- 2 stock issuances for existing shareholders (17.86mil shares in 2013, 17.86 mil shares in 2014)
- 1 issuance for strategic partner (4.6mil shares in 2014)
- Business corporation with strategic partner (Creed Group)
- Convertible bonds (10 USD mil in 2015)
 enable NBB to implement business projects

• Restructure investment portfolio, concentrate on Real estate, divest some businesses that are not core
operations:
+ Da Den Hydroelectric Plant
+ BOT Rach Mieu Bridge
+ Titanium mine…

• Adjust design of real estate projects (NBB I, NBB III, City Gate Towers) with 70m2-apartments to focus on
mid-end segment because of rising demand for affordable apartments

• Focus on ongoing projects to finish investment & trading: NBB I, NBB III, City Gate Towers, Son Tinh (Quang
Ngai) & Thuy San Hill (Quang Ninh)

• Stock liquidity increases 4x due to dilution resulting from 3 issuances. Focus on investor relation.
PLAN OF ONGOING PROJECTS
PROSPERITY, SUCCESS
SALE PLAN OF ONGOING PROJECTS
Project Up to Y2015 Y2016 Y2017 Y2018 Y2019
Y2014
City Gate Towers 5% 20% 35% 40%
NBB I 5% 25% 40% 30%
NBB III 10% 20% 30% 40%
Son Tinh 15% 15% 20% 30% 20%
Doi Thuy San 5% 20% 45% 30%

ESTIMATED REVENUE RECORGNITION TIME OF ONGOING PROJECTS

Project Y2015 Y2016 Y2017 Y2018 Y2019
City Gate Towers 20% 80%
NBB I 30% 70%
NBB III 20% 30%
Son Tinh 20% 20% 30% 25% 5%
Doi Thuy San 10% 45% 45%

TARGET
Unit: VND bn
Y2015 Y2016 Y2017
Revenue 250 400 600
Profit 60 100 120
 SECTION 5
INVESTMENT HIGHLIGHTS
HIGHLIGHT
PROSPERITY, SUCCESS
COMPETITIVE ADVANTAGES

• Large land bank at high value & low cost

• Prime locations (ie: project cluster at South West Saigon, near East West Highway: 15-25 minutes away
from city center)
• Good relationship with local authorities
• Foresee future planning of local authorities  quickly take the opportunity & make favorable investments
for NBB
• Real estate development strategy matches increasing real demand of the market & development
orientation of the country, because it focuses on affordable apartments in HCMC (mid-end segment, size
70m2/unit) & residential land lots in provinces/cities
• Long-lasting relationship with many domestic & foreign institutions
• Transparent & effective corporate governance, stable internal factors

NBB CURRENT SITUATION IN REAL ESTATE MARKET

Top 5 Real Estate Companies on HSX

Stock price increased 80% from 2013-2014

Stock liquidity increased greatly after first issuance to

existing shareholders in Sep/2013
 INVESTMENT OPPORTUNITIES: CONVERTIBLE BONDS
PROSPERITY, SUCCESS

Termsheet (negotiable)

Bond type Convertible bond without collateral

Total offering bond value 5,000,000 (Five million USD)
Maturity 03 years
Coupon 5% (USD) OR 8%(VND) per annum

For other investment opportunities into NBB Company or projects, please contact Mr Mai Thanh Truc, CFO at
mttruc@nbb.com.vn
DISCLAIMER
PROSPERITY, SUCCESS

This presentation was prepared by 577 Investment Corporation. Certain statements contained herein are
forward-looking statements. NBB undertakes no obligation to publicly update or amend any of these
forward-looking statements, whether to reflect new information, future situations or otherwise.

Reproduce with permission

PROSPERITY, SUCCESS

577 INVESTMENT CORPORATION

Head office: 01 Nguyen Van Dau, Ward 5, Phu Nhuan District, HCMC
Phone: (08) 62 577 577
Fax: (08) 3844 6017
Email: nbb@nbb.com.vn
Website: www.nbb.com.vn