PRESS RELEASE: VINCOM RETAIL ANNOUNCED BUSINESS AND FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2022

Hanoi, April 27, 2022, Vincom Retail Joint Stock Company (Vincom Retail, ticker “VRE”) released its unaudited consolidated financial statements for the first quarter of 2021 (1Q2022) in accordance with Vietnamese Accounting Standards (VAS).

Despite the temporary spike in the number of new Covid-19 infections in the first quarter, the total consolidated net revenue of Vincom Retail was VND 1,369 billion, a slight increase of 0.2% quarter-on-quarter. In which, revenue from leasing of investment properties and rendering of related services was VND 1,246 billion, an increase of nearly 40% quarter-on-quarter. Sales of inventory properties of Vincom Retail reached VND 84 billion.

Vincom Retail continued to support our tenants with a total support package of VND 464 billion mostly in the form of rent waiver and discount. At the end of the first quarter, the Company’s consolidated profit after tax reached VND 378 billion, increasing by 209.9% compared to Quarter IV last year.

At the same time, Vincom Retail has organized activities to stimulate shopping and festivals, such as: impressive space decoration during holidays and Tet to attract customers to Vincom malls; providing customers with a safe and secure experiencial and shopping destination with attractive promotions and gifts.

Vincom Retail is expected to launch Vincom Mega Mall Smart City – the next generation of shopping mall, on April 28, 2022, with a scale of up to 68,000 square meters. With the introduction of the new Life-Design Mall model, Vincom Retail will pioneer in bringing the world’s latest trends in experience, consumption and services to Vietnamese consumers, driving the development of the retail market in 2022. Vincom Plaza My Tho and Vincom Plaza Tran Huynh (Bac Lieu) are also expected to be launched in the second quarter, bringing a modern shopping and experiential destination for consumers and local people.

Marketing and festive activities will also be held throughout Vincom Retail’s shopping mall system to attract shoppers during the festive season and upcoming summer, in order to propel the recovery of the retail market in the new normal.