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Liberty Insurance Limited Summarised financial statements 31 December 2013... Liberty Insurance Limited CONTENTS AUDITED SUMMARISED FINANCIAL STATEMENTS INDEPENDENT AUDITORS’ REPORT Su

Liberty Insurance Limited Summarised financial statements

31 December 2013

Liberty Insurance Limited

CONTENTS

AUDITED SUMMARISED FINANCIAL STATEMENTS INDEPENDENT AUDITORS’ REPORT

Summarised balance sheet

Summarised income statement

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Ernst & Young Vietnam Limited Tel: +84 8 3824 5252

28th Floor, Bitexco Financial Tower Fax: +84 8 3824 5250

2 Hai Trieu Street, District 1 ey.com Building a better Ho Chi Minh City, S.R of Vietnam

working world

Ref: 60752645/16360248

INDEPENDENT AUDITORS’ REPORT

To: The Members’ Council of Liberty Insurance Limited

We have audited the financial statements of Liberty Insurance Limited (“the Company”) as at and for the year ended 31 December 2013 in accordance with Vietnamese Standards on Auditing from which the accompanying summarised balance sheet and summarised income statement (collectively referred to as the “summarised financial statements”) set out on pages 2 to 4 were derived In our independent

auditors’ report dated 10 March 2014, we expressed an opinion that the financial statements from which

the summarised financial statements were derived gave a true and fair view, in all material aspects, of the financial position of the Company as at 31 December 2013 and the result of its operations and the cash flows for the year then ended in accordance with the Vietnamese Accounting Standards, Vietnamese Accounting System applicable to insurance companies and with the statutory requirements

relevant to preparation and presentation of financial statements

Opinion

In our opinion, the accompanying summarised financial statements are consistent with the financial

statements from which they were derived and on which we have expressed an unqualified opinion For a better understanding of the financial position of the Company and the result of its operation for the

year and of the scope of our audit, the summarised financial statements should be read in conjunction

with the financial statements from which they were derived and our unqualified independent auditors’

report thereon

Nguyen Quoc Tuan

Audit Practicing Registration Audit Practicing Registration

Certificate No 2036-2013-004-1 Certificate No 1841-2013-004-1

Ho Chi Minh City, Vietnam

10 March 2014

A member firm of Ernst & Young Global Limited

SUMMARISED BALANCE SHEET

as at 31 December 2013

VND

100 | A CURRENT ASSETS 253,127,286,941 | 560,299,972,878

110 | 1 Cashand cash equivalents 63,929,985, 747 54,325, 956,736

120 | Il Short-term investments 109,000,000,000 | 425,500,000,000

130 | Ill Accounts receivable 76,168,000,795 76,406,724,439

150 | IV Other current assets 4,029,300,399 4,067,291,703

200 | B NON-CURRENT ASSETS 618,000,300,824 326,364,836,692

211 1 Tangible fixed assets 3,123,039,111 5,575,202,057

217 2 Intangible fixed assets 2,512,260,068 7,225,067,046

220 | !I Long-term investments 602, 224,799,284 302,986,650,228

240 | /il Other long-term assets 10,140,202,361 10,577,917,361

250

Liberty Insurance Limited

SUMMARISED BALANCE SHEET (continued)

as at 31 December 2013

B01-CBTT

VND

Ending balance Beginning balance

394,122,506,987 70,935,695,835

323,186,811,152 215,290,416,349 67,011,143,688 40,885,251,115

477,005,080,778 477,005,080,778

1,204,072,000,000 (727,066,919,222)

407,962,062,383 69,245,231,494 338,716,830,889 224,466,861,644 77,592,931 ,476 36,657 ,037,769 478,702,747 ,187 478,702,747,187 1,204,072,000,000 (725, 369,252,813)

Code | RESOURCES

300 | A LIABILITIES

310 | 1 Current liabilities

330 | Il Technical Reserves

331 1 Unearned premium reserve

333 2 Claims reserve

334 3 Catastrophe reserve

400 | B OWNER’S EQUITY

410 | I Owner’s equity

411 1 Contributed charter capital

418 2 Accumulated losses

430 | TOTAL LIABILITIES AND OWNER’S EQUITY

OFF BALANCE SHEET ITEM

Foreign currency - US$

1,508,961

(ll

Ms Nguyen My Thien

Chief Financial Officer

Ho Chi Minh City, Vietnam

10 March 2014

1G TY IỆMHỮUH

& Y0UI

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SUMMARISED INCOME STATEMENT

for the year ended 31 December 2013

VND

02 | Reinsurance premium assumed 2,210,632,492 538,811,787

04 Reinsurance premium ceded (28,315,545,741) (23,680,870,219)

08 | Decrease/(increase) in unearned premium

09 Commissions on reinsurance ceded 7,212,588,121 5,506,796,058

14_ | Total operating revenues 439,210,367,277 409,786,406,308

18 Recoveries from reinsurance ceded 2,012,660,622 1,265,542,418

21 Net claim expenses on retained risks (262,302,536,786) | (283,338,509,446)

24 | Increase in catastrophe reserve (4,228,213,346) | (12,475,678,648)

25 Other operating expenses (46,159,518,664) (45,697,738,916)

41 | Total direct operating expenses (302,108,481,008) | (340,089,131,835)

44 Administrative expenses (159,906,706,817) | (183,390,773,006)

45 | Net operating loss (67,917,478,645) | (165,787,091,111)

|

Ms Nguyen My Thien

Chief Financial Officer

Ho Chi Minh City, Vietnam

10 March 2014