MEKONG CAPITAL – 1Q20 NEWSLETTERfor the quarter ended 31 March 2020

SPOTLIGHTS ON MEKONG CAPITALSPOTLIGHTS ON INVESTEE COMPANIES

Knowledge and great ideas didn’t lead us to success in Private Equity. Who people are being and how things occur to them are at the core of what drives performance in our investments. Find out how we discovered The World of Ontological Private Equity and how it might apply to your organization.

THE BIRTH OF ONTOLOGICALPRIVATEEQUITY

SPOTLIGHTS ON MEKONG CAPITAL

In 1Q20, F88 opened 39 new lending branches, bringing its nation-wide branch network to 163. The company started expanding to the tier 2 cities, and has delivered consistent performance at store level in both tier 1 and tier 2 cities.

39NEW BRANCHESOPENED IN 1Q20

Sector: Personal Lendingf88.vn

F88

SPOTLIGHTS ON INVESTEE COMPANIES

Nguyen Thi Minh Giang joined Mekong Capital in 2010, continuously took on greater and greater levels of accountability, and ultimately became Mekong Capital’s first Partner of Talent and Culture. She is currently leading a team of four Talent and Culture specialists who have successfully recruited at least 5 management positions per month at our investee companies over recent years.

APPOINTED NGUYEN THIMINH GIANGAS PARTNER

Nhat Tin’s net revenue increased 30% YoY in 1Q20, driven by strong performance in the core retail clients as well as continued expansion in the walk-in customers group. Over the same period, the company also opened a new warehouse facility at Song Than, Binh Duong province, with a capacity of more than 19,000m2. The new warehouse will enable the company to double its bill volume capacity and fasten the connecting time between its logistics hubs.

As a logistics provider of essential goods and fresh groceries to most supermarket chains in Vietnam, ABA is benefiting from the growing interest in food safety and secure food supply chains. In 1Q20, ABA’s business has continued to expand with its topline revenue growing approximately 40% YoY.

Sector: Cold-chain Logisticsaba.com.vn

ABA CORPORATION

40%YOY TOPLINE REVENUE GROWTH IN 1Q20

NHAT TIN

NET REVENUE INCREASED

30%YOY IN 1Q20

Sector: Express Delivery ntlogistics.vn

In March, Pharmacity has opened a new National Distribution Center in Loc An Industrial Park (Dong Nai) with a total area of 10,635 m2. The new distribution center with Japan's leading warehouse standards will meet the storage conditions and inventory demand for Pharmacity operating 1,000 stores nation-wide by 2021.

Over the same period, Pharmacity opened 40 new stores, raising its store network to 292.

Sector: Pharmacy Retailwww.pharmacity.vn

PHARMACITY

ESTABLISHED NEW

NATIONALDISTRIBUTIONCENTER

LAUNCHED

YOLASMARTLEARNING

In this quarter, YOLA has successfully launched YOLA Smart Learning (YSL) – an interactive online platform for kids, juniors and test prep students following YOLA’s key strategic plans to offer Offline-to-Online model to the students.

The company has migrated most of their existing offline students to online learning with a total number of over 350 online classes.

Sector: English LanguageTraining Centerswww.yola.vn

YOLA

In 1Q20, 4P’s has launched its first-ever delivery service as a new channel allowing the company to serve more customers and ultimately lead to delivering smiles and happiness as of 4P’s Vision, “Make the World Smile for Peace”.

Sector: Restaurant Chainpizza4ps.com

PIZZA 4P’S

LAUNCHEDDELIVERYSERVICE

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Some data here are the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately.

Contact details MEKONG CAPITAL

Capital Place, 8th floor

6 Thai Van Lung, District 1,

Ho Chi Minh City, Vietnam

Tel: (84 28) 3827 3161

E-mail: info@mekongcapital.com

www.mekongcapital.com

Vision Fulfillment Center Vision Fulfillment Center – Hanoi

Lotte Hanoi Center

31st floor, EAST tower

54 Lieu Giai, Ba Dinh, Hanoi, Vietnam

Tel: (84 24) 3772 4888

E-mail: info@mekongcapital.com

www.mekongcapital.com