VINCOM RETAIL ACHIEVED 2025 PROFIT AFTER TAX OF VND 6,446 BILLION, GROWING OVER 57%, SOLIDIFYING MARKET LEADERSHIP IN SCALE AND COVERAGE IN VIETNAM

Hanoi, January 26^th, 2025, Vincom Retail Joint Stock Company (ticker “VRE”) announced Consolidated Financial Statements for the Fourth Quarter of 2025 in accordance with Vietnamese Accounting Standards (VAS).

In 2025, Vincom Retail recorded VND 8,399 billion in revenue from leasing and related services, representing a 6.6% year-on-year increase, driven by a continued recovery in occupancy rates across the entire shopping mall network and stable contributions from malls newly opened in 2024 and 2025.

After most shophouse handovers were completed in 2024, total consolidated net revenue reached VND 8,837 billion, equivalent to 92.8% of the full-year guidance. Profit after tax amounted to VND 6,446 billion, surging 57.4% year-on-year, equivalent to 137% of the full-year guidance. Excluding gains from the shares transfer of Vincom Center Nguyen Chi Thanh, profit after tax reached 105% of the full-year guidance.

Vincom Retail continues to assert its pioneering position in product development, delivering innovative experiences to shoppers. This year, the Company launched three new shopping malls under the “One-stop Shoppertainment” model, adding nearly 120,000 sqm of Gross Leasable Area (GFA). These include Vincom Mega Ocean City, Vincom Mega Mall Royal Island, and Vincom Plaza Vinh, bringing the total network to 90 malls across 31 out of 34 provinces and cities nationwide, with over 1.91 million $m^2$ of retail GFA. Furthermore, community engagement initiatives expanded significantly, with the number of events increasing by 50% year-on-year. The V-Creator campaign became a focal point for creativity and content sharing, recording 2.4 billion views from 40,000 videos across digital platforms.

Vincom Retail continues to be a trusted partner for tenants. The system has attracted numerous new tenants this year, featuring a wide array of domestic and international brands. Notably, many brands—including Wilson, IEF, and OH!SOME—chose Vincom Retail as the platform for their market debut or for significant chain expansion.

In parallel, the Company has undertaken comprehensive upgrades across its shopping malls. Key highlights include interior renovations at Vincom Center Ba Trieu and Vincom Center Dong Khoi, and more than 800 upgrade works at other Vincom shopping malls. Besides, more than 1.300 stores in the Vincom mall network have been upgraded by tenants, not only in terms of design, but also in terms of product concept and offerings, typically the upgrade of 38 WinMart supermarkets, which altogether have contributed to creating a modern and premium shopping environment.

These breakthrough efforts have driven a 21% increase in footfall across the entire system compared to 2024, reaffirming the company’s superior value and commitment to its leasing partners.

Vincom Retail’s Environmental and Social efforts have been delivered consistently. Solar power systems have been installed at 60/90 malls, supplying 15.9 million kWh and helping to cut nearly 12,809 tons of CO₂ emissions.

In addition, Vincom Retail pioneered promoting the green consumption, recording 768 stores providing more than 275,000 environmentally friendly products. In the F&B sector, efforts to reduce plastic waste achieved practical results with an average of 1.8 million plastic cups and 400,000 plastic straws replaced monthly with eco-friendly materials. Parallel with sorting 80 tons of recycled waste per month, the “Act Together for Blue Sea” campaign spread strongly in 28 provinces and cities. Especially, the completion of infrastructure for 5,860 motorcycle charging stations and 1,371 car charging stations of VGreen across the entire system has contributed significantly to promoting the green transport ecosystem in Vietnam.

Regarding Corporate Governance, Vincom Retail identifies Corporate Governance as the core foundation for sustainable growth, thereby consolidating the trust of shareholders, investors, customers, and stakeholders. Therefore, in 2025, the Company aimed to elevate Corporate Governance beyond ordinary compliance requirements through the application of the ASEAN Corporate Governance Scorecard as a tool to evaluate and establish governance improvement goals; while integrating developmental orientations consistent with the 17 United Nations Sustainable Development Goals (SDGs). With consistent orientation from the Board of Directors and effective implementation of plans by the Management Board, in 2025, Vincom Retail increased its Corporate Governance score from 57% to 74% according to HOSE’s evaluation, while simultaneously publishing a separate Sustainability Report for the first time. Also in this year, Vincom Retail synchronously deployed CiAMS, CRM, and e-office systems to enhance operational and business efficiency.

With outstanding achievements, Vincom Retail continued to be honored with a series of prestigious brand awards such as Top 30 Listed Companies in Vietnam voted by Forbes Vietnam, Top 50 Most Valuable Brands in Vietnam by Brand Finance, Inspirational Brand of Asia 2025 at the Asia Pacific Enterprise Awards 2025, and Green Leadership at the Asia Responsible Enterprise Awards 2025.