PRESS RELEASE: VINCOM RETAIL ANNOUNCED BUSINESS AND FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2020

On 27 April 2020, Vincom Retail Joint Stock Company (Vincom Retail, ticker “VRE”) released its consolidated financial statements of the first quarter of 2020 (1Q2020) prepared in accordance with Vietnamese Accounting Standards (VAS).

In the first quarter of 2020, Vincom Retail’s business results were affected by the COVID-19, resulting in negative growth compared to the same period in 2019. Specifically, total consolidated net revenue was VND 1.686 trillion, equivalent to 73,8% of the same period in 2019; revenue from leasing and rendering related services was VND 1.449 trillion, equivalent to 90.6% of the same period in 2019; revenue from sale of inventory properties was VND 201 billion, corresponding to 33.4% of the same period in 2019.

In the first quarter, Vincom Retail disbursed a VND 300 billion support package to assist tenants to overcome this unprecedented period. By the end of the first quarter of 2020, the Company’s profit after tax was VND 492 billion, equivalent to 80.5% of profit after tax of the same period last year.

As of 31 March 2020, Vincom Retail had 79 retail malls under operation in 43 cities and provinces throughout the country, with approximately 1.6 million sqm of total retail GFA, maintaining its position as the largest retail developer, owner and operator in Vietnam.Having a well-recognized brand and premium customer services, Vincom retail malls are attractive retail destinations for domestic and international retailers. In early March 2020, Uniqlo, a leading Japanese fashion brand, opened its first store in Hanoi at Vincom Center Pham Ngoc Thach. As of 31 March 2020, Vincom Retail malls have housed 1,000 leading international and domestic brands.In the first quarter of 2020, Vincom launched two marketing campaigns namely Lunar New Year Campaign 2020 and the International Women’s Day Celebration Campaign on March 8^th, attracting more than 8 million footfalls and 100 million media reach. From 23 April 2020, all Vincom retail malls in Hanoi and Ho Chi Minh City and most of those outside of the two cities have reopened. In the second quarter of 2020, Vincom will continue to implement measures to prevent and control COVID-19, and join hands with the community to fight the disease. In particular, Vincom will offer large-scale promotional programs and attractive retail experience in its Summer Campaign to generate market demand following the social isolation period, connecting communities and bringing happiness to customers across the country.