Competitive Advantage

• Long tenure gaming license – 70 years to 2065; exclusivity within 200KM radius of Phnom Penh until 2045
• Operational flexibility – No restrictions on number of tables, Electronic Gaming Machines and gaming space
• Competitive tax structure – Lowest gaming tax in the region (Mass gaming 7%; Non-Mass gaming 4% of GGR)
• Strategic location – Only monopoly Integrated Resort in the heart of an Asian city; Phnom Penh an emerging entertainment and tourism destination
• Lower operating cost structure and environment – Execute better pricing strategy to offer competitive value to customers

Attractive Growth Prospects

• Resilient Foreign Direct Investment (FDI) inflows – Leading to favourable economic conditions with growing investor confidence and investment; influx of foreign business and expat population
• Robust economic growth – Increasing economic activity resulting in growing affluence and increasing business migration; driving footfall to NagaWorld
• Improving accessibility – More direct flights connectivity will stimulate travel demand; support increase business and leisure visitation
• Naga 3 – A tourism asset to increase visitation, quality of spending and competitiveness of Phnom Penh and Cambodia in the region; in alignment with Cambodian government’s vision

Strategy, Markets & Customers

• Drive long-term sustainable growth; offering a comprehensive suite of lifestyle gaming and tourism products / services at competitive price and value
• Key markets – Southeast Asia ~699 million population; East Asia ~1.7 billion population
• Market demographics and visitation growth – Growing resident population, foreign business migration, affluent expat and leisure travelers to capture the long-term tourism potential of Cambodia as the only Integrated Resort in Phnom Penh
• Captive domestic market – A proven stable self-sustaining business; positive cumulative profits during COVID-19 pandemic (2020-22)
• Leverage existing facilities (Naga 1 / Naga 2) and future expansion (Naga 3, etc.) to penetrate and grow key markets; cement competitive positioning

Strong Financials & Robust ESG

• Average ~60% dividend payout ratio; about US$1.6B dividends distributed since IPO in 2006
• Emphasis on high margin Mass Market and Premium VIP segments; prudent OPEX; industry leading ROA and ROIC
• Award winning Investor Relations & CSR – Institutional Investor / Extel, Hong Kong Investor Relations Association (HKIRA), Stevie^® awards
• Comprehensive anti-money laundering (AML) / anti-corruption policies and procedures; Financial Action Task Force (FATF) compliant AML practices
• US$ based earnings and reporting