Governance Foundations for Sustainable Value Creation

Sustainable Development Context

GLOBAL CONTEXT
CONTEXT IN VIETNAM

In the context of an increasingly volatile geopolitical landscape, the world is simultaneously facing a range of systemic challenges, including intensifying climate change, resource depletion, food insecurity, social inequality, and mounting pressure to transform economic growth models.

The year 2025 marked a pivotal shift in Vietnam’s sustainable development trajectory, as the Government continued to affirm the green economy, digital economy, and circular economy as strategic priorities, while maintaining its commitment to achieving Net Zero emissions by 2050.

Sustainable Development Context at PVFCCo

Overall, amid a rapidly changing business environment and growing demands for economic transformation, 2025 marked the year in which PVFCCo translated sustainable development from strategic intent into systematic action. These efforts have established a solid foundation for the Corporation to progressively realize its ambition of “Strengthening Governance Foundations – Enabling Green Growth” throughout the 2026–2030 period and toward its Vision 2050, while contributing meaningfully to the sustainable development of the industry, the nation, and future generations.

Sustainable Development Strategy at PVFCCo

Through this strategic direction, PVFCCo is committed to generating increasingly positive impacts on the environment, society, and the economy, while contributing to Vietnam’s pathway toward Net Zero emissions by 2050. The Corporation’s leadership team and employees remain committed to working closely with customers, partners, and other stakeholders to build a more sustainable economy and create lasting positive value for communities and society.

Stakeholder Engagement (GRI 2-15, GRI 2-16, GRI 2-23, GRI 2-24, GRI 2-25, GRI 2-26, GRI 2-29, GRI 207-3)

To identify material sustainable development topics and effectively implement ESG solutions, initiatives, and programs aligned with market trends and stakeholder needs over time, PVFCCo places strong emphasis on stakeholder engagement. Diverse and flexible engagement programs, along with regular and open dialogue, enable the Corporation to capture timely feedback and better understand the concerns of key stakeholder groups–including customers, partners, employees, and local communities. These efforts have helped PVFCCo enhance its brand value, maintain stakeholder trust, and further strengthen its strategic direction for sustainable development.

Stakeholder Engagement Process

STEP

Identification of Key Stakeholders

PVFCCo identifies individuals and organizations that either influence or are impacted by its operations, classifying them based on their level of impact to design appropriate dialogue and collaboration programs.

STEP

Conducting Engagement Activities to Identify Stakeholder Concerns

The Corporation deploys multiple engagement channels, including surveys, interviews, dialogues, workshops, and online platforms. These are complemented by field teams that collect direct feedback from customers. The data is consolidated and analyzed to support ESG-related activities.

STEP

Prioritizing Stakeholder Concerns

Stakeholder concerns are assessed based on their level of impact, strategic importance, urgency, and the Corporation’s response capability, forming the basis for identifying material topics.

STEP

Developing Action Plans

PVFCCo develops specific action plans with clearly defined objectives, timelines, and resource allocation. Relevant units collaborate in implementation, monitoring, evaluation, and timely adjustments.

STEP

Engagement and Communication

The Corporation proactively ensures transparency by communicating progress and results to stakeholders, maintaining alignment, trust, and ongoing engagement.

STEP

Monitoring and Evaluation

PVFCCo tracks performance through an ESG indicator system and incorporates stakeholder feedback to refine its approach, ensuring that sustainable development initiatives deliver maximum value.

Material Topics

METHODS OF DETERMINATION (GRI 3-1)

The analysis and assessment of the materiality level of each ESG topic, compiled from stakeholder engagement combined with internal analysis, are conducted by PVFCCo in accordance with the guidance of GRI 3 under the GRI Universal Standards 2021. Annually, the responsible department at PVFCCo reviews and updates the results to align with national sustainable development trends, core business areas, and stakeholder expectations.

The entire analysis and assessment process is summarized into four main steps as follows:

STEP

Analysis of internal and external context

PVFCCo proactively analyzes ESG and economic factors from both internal and external perspectives, based on: strategic objectives, domestic and global trends, industry reports, legal frameworks, stakeholder input, risks and opportunities across the value chain, expert consultations, and reference to international practices (SDGs, industry ESG reports).

STEP

Assessment of actual and potential impacts

Based on the above, the Corporation assesses actual and potential impacts (positive/negative) on economic, environmental, and social aspects; combined with stakeholder and expert consultations to ensure objectivity.

STEP

Evaluation and ranking of the materiality of each ESG topic

PVFCCo evaluates the importance of each ESG topic based on impact level, controllability, financial and non-financial implications, risks/opportunities, and stakeholder perspectives. The results are presented in a materiality matrix, serving as a basis for prioritization and KPI monitoring.

STEP

Screening and deciding on the list of highest-priority topics for disclosure

From the materiality matrix, PVFCCo screens and submits the priority ESG topics for approval by the Board of Management, serving management, monitoring, and sustainability reporting in accordance with regulations and international standards.

MATERIALITY MATRIX

The matrix presenting the evaluation and categorization results of PVFCCo’s key ESG topics for 2025 is as follows:

MATERIAL TOPICS (GRI 3-2)

The material ESG topics presented in this Report have been identified based on their relevance to PVFCCo’s contributions to the United Nations Sustainable Development Goals (SDGs) and are aligned with the Environmental, Social, and Economic & Governance pillars of sustainable development, including:

Topic	Description	Link to the United Nations Sustainable Development Goals (17 SDGs)
Emissions Reduction and Energy Transition	Develop and implement plans, solutions, and initiatives to improve energy efficiency, reduce greenhouse gas emissions, and actively transition to cleaner energy sources (particularly renewable energy) used in core production and business operations. Participate in the domestic carbon market and engage in effective trading of emission allowances/credits, aiming to achieve net-zero greenhouse gas emissions by 2050.
Efficient Use of Natural Resources	Enhance research and implementation of initiatives and solutions to increase the efficient use of input materials derived from finite natural resources. Increase the proportion of recycled materials used in the production of fertilizers and chemicals. Promote circular economy activities based on recycling and reuse of by-products and waste.
Environmental Pollution Mitigation	Commit to strict management of environmental impacts arising from core production and business operations. Study and integrate appropriate environmental criteria into supplier evaluation and selection processes to promote a sustainable supply chain. Research and expand new products to become a pioneer in green chemical manufacturing.
Conservation of Biodiversity, Water Resources, and Soil Quality	Improve fertilizers toward smarter and more environmentally friendly solutions (green/organic fertilizers) to minimize negative impacts on water resources while improving soil quality in agricultural practices. Research and develop compound fertilizers with higher organic, secondary, and micronutrient content and/or more efficient, slow-release nutrient delivery. Closely monitor impacts on ecosystems to conserve biodiversity in areas potentially affected by business operations. Promote biodiversity conservation in areas where fertilizers and chemical products distributed by PVFCCo are used.

Emissions Reduction and Energy Transition

Description

Develop and implement plans, solutions, and initiatives to improve energy efficiency, reduce greenhouse gas emissions, and actively transition to cleaner energy sources (particularly renewable energy) used in core production and business operations.
Participate in the domestic carbon market and engage in effective trading of emission allowances/credits, aiming to achieve net-zero greenhouse gas emissions by 2050.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Efficient Use of Natural Resources

Description

Enhance research and implementation of initiatives and solutions to increase the efficient use of input materials derived from finite natural resources.
Increase the proportion of recycled materials used in the production of fertilizers and chemicals.
Promote circular economy activities based on recycling and reuse of by-products and waste.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Environmental Pollution Mitigation

Description

Commit to strict management of environmental impacts arising from core production and business operations.
Study and integrate appropriate environmental criteria into supplier evaluation and selection processes to promote a sustainable supply chain.
Research and expand new products to become a pioneer in green chemical manufacturing.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Conservation of Biodiversity, Water Resources, and Soil Quality

Description

Improve fertilizers toward smarter and more environmentally friendly solutions (green/organic fertilizers) to minimize negative impacts on water resources while improving soil quality in agricultural practices.
Research and develop compound fertilizers with higher organic, secondary, and micronutrient content and/or more efficient, slow-release nutrient delivery.
Closely monitor impacts on ecosystems to conserve biodiversity in areas potentially affected by business operations.
Promote biodiversity conservation in areas where fertilizers and chemical products distributed by PVFCCo are used.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Topic	Description	Link to the United Nations Sustainable Development Goals (17 SDGs)
Occupational Safety and Employee Health	Commit to compliance with applicable laws and widely accepted international standards and best practices on occupational health and safety in fertilizer and chemical production. Maintain systems to ensure employee health (including dedicated occupational health and safety personnel) and prevent occupational diseases.
Maintaining and Developing a High-Quality Workforce	Develop human resources aligned with the Corporation’s growth at each stage through talent attraction policies and competitive compensation packages. Invest in enhancing professional expertise and essential skills to strengthen capabilities in science and technology, innovation, and digital transformation, ensuring rapid adaptation to new technological eras. Promote overall labor productivity growth and improve average employee income across the Corporation. Commit to building a dynamic, efficient, fair, and inclusive work environment with equal career advancement opportunities for women.
Sharing Responsibility with the Community	Continue prioritizing social welfare and supporting the development of healthcare and education infrastructure in line with the Corporation’s capacity and conditions. Commit to accompanying the Vietnam National Industry and Energy Group in charitable programs and social responsibility activities, contributing to and spreading positive values within the community.

Occupational Safety and Employee Health

Description

Commit to compliance with applicable laws and widely accepted international standards and best practices on occupational health and safety in fertilizer and chemical production.
Maintain systems to ensure employee health (including dedicated occupational health and safety personnel) and prevent occupational diseases.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Maintaining and Developing a High-Quality Workforce

Description

Develop human resources aligned with the Corporation’s growth at each stage through talent attraction policies and competitive compensation packages.
Invest in enhancing professional expertise and essential skills to strengthen capabilities in science and technology, innovation, and digital transformation, ensuring rapid adaptation to new technological eras.
Promote overall labor productivity growth and improve average employee income across the Corporation.
Commit to building a dynamic, efficient, fair, and inclusive work environment with equal career advancement opportunities for women.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Sharing Responsibility with the Community

Description

Continue prioritizing social welfare and supporting the development of healthcare and education infrastructure in line with the Corporation’s capacity and conditions.
Commit to accompanying the Vietnam National Industry and Energy Group in charitable programs and social responsibility activities, contributing to and spreading positive values within the community

Link to the United Nations Sustainable Development Goals (17 SDGs)

Topic	Description	Link to the United Nations Sustainable Development Goals (17 SDGs)
Long-Term Sustainable Growth	Evaluate and select investment projects that ensure financial efficiency and support expansion of the Corporation’s scale and stature. Diversify the product portfolio and increase the share of revenue from international business activities. Improve operational efficiency through enhanced cooperation and ecosystem development to leverage synergies (resource and cost optimization/sharing). Continue restructuring and effectively transforming the business model in alignment with market conditions. Strive to achieve compound growth in revenue and profit, contributing alongside the Vietnam National Industry and Energy Group to sustainable national economic growth.
Transparent Governance and Responsible Business Practices	Commit to compliance with applicable laws and move toward adopting international standards and best governance practices. Proactively adjust to flexibly adapt to the business environment and effectively respond to unforeseen changes. Strengthen enterprise-wide risk management and integrate ESG factors (particularly external factors affecting PVFCCo) into the risk management system. Ensure responsible business conduct and timely, complete, and transparent disclosure to maintain and strengthen stakeholder trust, thereby enhancing corporate reputation and position.
Innovation and Digital Transformation	Strongly promote digital transformation across all aspects of production and business operations. Apply modern information technology solutions to measure and monitor production productivity, business performance, and environmental and social impacts. Increase automation in operational processes and data management. Ensure system integration, data security, and cybersecurity.

Long-Term Sustainable Growth

Description

Evaluate and select investment projects that ensure financial efficiency and support expansion of the Corporation’s scale and stature.
Diversify the product portfolio and increase the share of revenue from international business activities.
Improve operational efficiency through enhanced cooperation and ecosystem development to leverage synergies (resource and cost optimization/sharing).
Continue restructuring and effectively transforming the business model in alignment with market conditions.
Strive to achieve compound growth in revenue and profit, contributing alongside the Vietnam National Industry and Energy Group to sustainable national economic growth.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Transparent Governance and Responsible Business Practices

Description

Commit to compliance with applicable laws and move toward adopting international standards and best governance practices.
Proactively adjust to flexibly adapt to the business environment and effectively respond to unforeseen changes.
Strengthen enterprise-wide risk management and integrate ESG factors (particularly external factors affecting PVFCCo) into the risk management system.
Ensure responsible business conduct and timely, complete, and transparent disclosure to maintain and strengthen stakeholder trust, thereby enhancing corporate reputation and position.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Innovation and Digital Transformation

Description

Strongly promote digital transformation across all aspects of production and business operations.
Apply modern information technology solutions to measure and monitor production productivity, business performance, and environmental and social impacts.
Increase automation in operational processes and data management.
Ensure system integration, data security, and cybersecurity.

Link to the United Nations Sustainable Development Goals (17 SDGs)

Through three pillars and ten corresponding key topics that have been identified, PVFCCo’s sustainable development (SD) strategic orientation is aligned and integrated with its Development Strategy for the 2026-2030 period, aiming toward the goal of “Becoming an efficiently operating enterprise that meets international standards and scale, leveraging its strengths in fertilizers and chemicals to create a sustainable value chain.”

SUSTAINABLE DEVELOPMENT GOALS (GRI 2-22, GRI 2-23, GRI 2-24)

Topic	Specific Target by 2030	KPI	Responsible Unit/ Department	Measurement/Monitoring Frequency
Emissions Reduction and Energy Transition	Reduce greenhouse gas emissions of Phu My Fertilizer Plant by 3% compared to the 2022 baseline.	Emissions reduction rate of Phu My Fertilizer Plant in 2030 compared to 2022.	Phu My Fertilizer Plant	Annually
	Reduce Scope 1 and Scope 2 greenhouse gas emission intensity per ton of product compared to the 2024 baseline.	Scope 1 and Scope 2 emission intensity per ton of product.	Phu My Fertilizer Plant
	Implement renewable energy-related projects that have completed the investment opportunity assessment phase.	Completion of the feasibility study for the high-pressure steam production project at Phu My Fertilizer Plant for implementation no later than 2027.	Project Management and Development Branch
	Achieve 0.5% reduction in energy consumption compared to the 2024 baseline.	Energy consumption reduction rate in 2030 compared to the 2024 baseline.	ESG / Corporate Energy Management Unit	Annually / Quarterly
Efficient Use of Natural Resources	Reduce input water consumption for production and business operations compared to the 2024 baseline.	Annual variance in water input volume compared to the 2024 baseline.	ESG Unit	Annually
Environmental Pollution Mitigation	At least 26% of total hazardous waste to be recovered and recycled during 2026-2030.	Ratio of recovered and recycled hazardous waste to total hazardous waste generated annually.	Phu My Fertilizer Plant	Annually / Quarterly
Environmental Pollution Mitigation	10% of suppliers assessed periodically based on environmental impact management criteria	Proportion of suppliers assessed based on environmental criteria over total suppliers.	Commercial Department	Annually
Biodiversity, Water Resources, and Soil Conservation	Supply 60,000 tons of organic / environmentally friendly / soil-improving fertilizers cumulatively during 2025-2030.	Total volume of such fertilizers supplied to domestic and export markets.	Business Department	Annually / Quarterly
Maintaining and Developing a High-Quality Workforce	At least 80% of employees satisfied with the work environment, HR policies, and compensation.	Percentage of employees satisfied with the Corporation’s working environment, HR policies, and employee benefits out of the total workforce.	Human Resource Management Department	Annually
	Average annual training hours per employee reach at least 36 hours.	Average training hours per employee.	Human Resource Management Department	Annually / Quarterly
	At least 6 training programs annually on digital trends and IT application skills in the Industry 4.0 era, including both Corporation-wide programs and role-specific training for targeted employee groups.	Number of training programs conducted annually on digitalization trends and information technology application skills for the Industry 4.0 era.	Human Resource Management Department
	Ensure that 100% of employees are subject to periodic performance evaluations based on a multi-source feedback approach (e.g., supervisors, peers, subordinates, self-assessments, and customers), rather than solely on assessments by direct supervisors.	Percentage of employees evaluated through multi-dimensional methods.	Human Resource Management Department
Occupational Safety and Employee Health	No serious or higher-level occupational accidents in production and business operations annually.	Number of serious occupational accidents	ESG Focal Unit (Safety Department or ESG Team)	Annually / Quarterly
Occupational Safety and Employee Health	Maximum of 12 new occupational hearing loss cases during 2026-2030.	Number of new occupational hearing loss cases annually.	Phu My Fertilizer Plant	Annually / Quarterly
Community Engagement and Responsibility Sharing	Complete 100% of assigned social welfare tasks from the parent group (Petrovietnam).	Total expenditure on assigned social welfare activities annually.	Corporate Office	Annually
	95% of employees participate in charitable programs organized by the Corporation and the parent group.	Number of employees participating in volunteer activities and community programs organized by the Corporation and its parent company.	Party and Mass Organizations Office
	Reach at least 20,000 farmers annually through programs and initiatives that promote awareness and knowledge of sustainable farming and agricultural production practices.	Number of farmers participating in awareness-raising and knowledge-sharing programs on sustainable farming and agricultural production through both direct engagement activities and online communication channels.	Marketing and Communications Department
Long-Term Sustainable Growth	Achieve an average total revenue growth rate of 14% during 2026-2030.	Total revenue.	Finance and Accounting Department	Annually
	Ensure an average return on equity (ROE) after tax of no less than 7.64% throughout the 2026–2030 period.	Return on Equity (ROE).	Finance and Accounting Department
	Approve and implement at least 04 scientific research projects for practical application each year.	Number of scientific research projects approved and implemented in practice	Research and Application Center
Transparent Governance and Responsible Business Practices	Maintain 100% completion rate of mandatory internal training on code of conduct, business ethics, corporate culture,…	Percentage of employees completing mandatory internal training courses on the Code of Conduct, business ethics, corporate culture, and related topics.	Human Resource Management Department	Annually
	No violations of applicable laws in business operations annually.	Number of cases of non-compliance with applicable laws and regulations in business operations each year.	Legal and Compliance Department
	Achieve at least one reputable and recognized award annually in Vietnam or the region related to governance, responsible business, or brand.	Number of recognitions and awards related to transparent governance and responsible business practices.	Marketing and Communications Department
Innovation and Digital Transformation	Innovation and Digital Transformation maintain 95% completion rate of mandatory data security and cybersecurity training for IT-related positions.	Percentage of employees in information technology-related roles who complete mandatory training on data security and cybersecurity.	Digital Transformation and IT Department	Annually / Quarterly
	Complete the development of a centralized ESG data warehouse (Datamart).	Completion of the development and implementation of a centralized ESG data warehouse (ESG Datamart).	ESG Focal Unit (Safety Department or ESG Team)	2027-2028
	Complete updates and improvements of technology applications for management and operations, ensuring system integration and data security.	Percentage completion of the plan for updating and enhancing technology applications in management, administration, and business operations.	Digital Transformation and IT Department	Annually

Contributing to the United Nations Sustainable Development Goals (GRI 11)

The table below summarizes information and data reflecting PVFCCo’s efforts in contributing to the implementation of the 17 Sustainable Development Goals (SDGs) of the United Nations:

SDGs	Objective	Main contributions of PVFCCo in 2025
	End poverty in all its forms everywhere	Allocated VND 9.04 billion to local “Great Solidarity House” programs. Allocated VND 30.54 billion to educational activities, focusing on investing in school facilities and equipment. Allocated VND 24.10 billion to the healthcare sector, supporting community health protection and enhancement. Expended VND 3.81 billion on disaster relief, humanitarian aid, gratitude programs, and other social welfare initiatives. Allocated VND 4.65 billion to implement the “Tet for the Poor – At Ty Lunar New Year” program.
	End hunger, achieve food security and improved nutrition and promote sustainable agriculture	Supplied 1.4 million tons of Phu My fertilizer products. Researched and developed new product lines to enhance crop yields
	Ensure healthy lives and promote well-being for all at all ages	Expended approximately VND 12 billion on periodic health examinations, disease prevention, and vaccinations for all employees. Regularly organized sports activities and voluntary blood donation drives for employees at both grassroots and corporate levels. Regularly updated and implemented prevention and control measures against infectious diseases (seasonal flu, mpox, and other epidemics) in compliance with regulations, advisories, and guidelines from the Government, Ministry of Health, and competent authorities. Maintained life insurance and retirement pension plans for all employees. Reduced the incidence of occupational hearing loss (occupational deafness).
	Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all	Organized 173 training courses for 6,549 turns of attendees (reaching 126% of the annual plan) with a total expenditure of VND 9.4 billion (representing approximately 75% of the 2025 training budget). Organized a series of training courses to cultivate knowledge and skills for AI application in workplace tasks for managers and personnel across the entire system – ranging from general awareness courses to specialized application courses tailored to each field/target group. Allocated a budget of VND 30.54 billion for school construction, implementing 17 educational support programs and equipment investments to create optimal learning conditions for impoverished children and those in remote areas. Sponsored a total of VND 15.5 billion, partnering with Petrovietnam to deploy educational and innovation programs in Lam Dong and Can Tho, thus contributing to enhancing educational quality and technology access for students. Completed 03 STEM classrooms in Lam Dong within 1.5 months (sponsorship of VND 10.5 billion), contributing to driving scientific-technological mindset and innovative capacity for lower and upper secondary school students. Provided computer equipment to 27 primary and lower secondary schools in Can Tho through the “Phu My Innovation – Digital Space for Children” program (sponsorship of VND 5 billion), expanding information technology access opportunities for students, particularly in disadvantaged areas.
	Achieve gender equality and empower all women and girls	100% of female employees were provided with optimal conditions to participate in training and knowledge-enrichment courses. Ensured that policies, regimes, and benefits for female employees are completely free from discrimination and consistently implemented at standards exceeding legal requirements.
	Ensure availability and sustainable management of water and sanitation for all	Ensured compliance with prevailing legal regulations and maintained the regular operation of wastewater treatment systems. Controlled the temperature of surface water used for cooling machinery and equipment in production to ensure regulatory compliance and eliminate negative impacts on the biodiversity of the Thi Vai River.
	Ensure access to affordable, reliable, sustainable and modern energy for all	Conserved 597,693 MMBTU of energy in 2025 at the Phu My Fertilizer Plant, exceeding the target (573,920 MMBTU) by 114%. Researched and evaluated the financial viability of renewable energy transition solutions for future deployment.
	Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all	Achieved a 98% growth in profit after tax compared to 2024 (2025: VND 1,095 billion; 2024: VND 554 billion). Recorded an estimated consolidated revenue of over VND 16,300 billion in 2025, successfully fulfilling and exceeding the growth targets assigned by Petrovietnam. Executed a stock dividend distribution at a ratio of 73.72%, issuing an additional 288.6 million shares to raise the charter capital to nearly VND 6,800 billion, thereby strengthening financial capacity and resources for long-term development. Ensured stable employment and income for 1,567 employees. 100% of employees, particularly female workers, feel safe working at PVFCCo.
	Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation	Applied core technologies in traceability by integrating RFID/QR codes on product packaging; concurrently launched a digital agriculture transformation project with Enfarm. Applied advanced management and operational tools, including DCS, IMS, MMS, PLC, and OTS, in equipment operation, maintenance, and asset management. Adopted modern maintenance methodologies, such as CBM, RCA, FMEA, RBI, and RCM, to enhance equipment reliability and optimize operational efficiency. Recognized 43 technical improvement initiatives with quantifiable financial benefits exceeding VND 100 billion, along with 130 production rationalization initiatives with unquantifiable financial benefits. Screened and developed 462 improvement ideas as a foundation to cultivate future initiatives and rationalization solutions, contributing to enhancing efficiency and safety in business and production operations.
	Reducing social inequality	Maintained transparency in recruitment and performance appraisal processes. Maintained a fair and equitable remuneration, bonus, and welfare system for all employees. Created development opportunities and guaranteed secure employment for female workers through training, talent planning, appointment, and the integration of gender equality into corporate policies. Provided a comprehensive welfare system exceeding legal mandates to care for the health, well-being, and families of female employees, while raising gender equality awareness.
	Promote sustainable, resilient urban and rural development; ensure safe living and working environments; ensure reasonable distribution of population and work force by region	Maintained the policy of prioritizing local labor recruitment. Maintained a safe working environment in compliance with the international ISO 45001 standard.
	Ensure responsible consumption and production	Proactively applied energy-saving initiatives, researched transitions to more environmentally friendly raw materials, and reduced greenhouse gas (GHG) emissions, etc. Completed a record-breaking turnaround (major maintenance campaign) in 2025, shortening the schedule by 4 days compared to the plan and successfully executing over 5,500 of the most complex technical packages to date. Fully fulfilled its fertilizer packaging recycling obligations through physical recycling, rather than making financial contributions to the Vietnam Environmental Protection Fund, and completed the required declarations on the National EPR Information Portal in accordance with the Extended Producer Responsibility (EPR) regulations.
	Respond in a timely and effective manner to climate change and natural disasters	Issued the Strategy for Response to Climate Change and GHG Emission Reduction as a foundation to deploy emission reduction activities toward the Net Zero 2050 target; concurrently approved an implementation plan with a specific roadmap to ensure execution efficiency and monitoring. Planted 305,650 trees during the 2022–2025 period. Organized specialized GHG training to enhance awareness and capacity for employees in GHG inventory (ISO 14064), carbon footprint calculation (ISO 14067), and emission mitigation planning. Conducted the 2025 GHG inventory for the Phu My Fertilizer Plant under ISO 14064-1:2018, expanding the emission calculation boundary to Scope 3 for the first time. Completed the product carbon footprint assessment for products manufactured at the Phu My Plant in accordance with ISO 14067:2018, with independent verification currently underway by BSI UK. Deployed initiatives and solutions to achieve emission reduction targets of 25.6% – 33.2% compared to 2022 levels, equivalent to an avoidance of 143,809 – 18,6513 tons of CO₂ by 2030. Invested in upgrading the Urea workshop and/or deploying the Commercial CO₂ Project (Phase 2) to bring the CRU (Carbon Recovery Unit) into operation, thereby increasing profitability and reducing GHG emissions. Implemented science and technology initiatives focusing on the use of environmentally friendly materials and the application of innovative solutions and technologies to develop new products that contribute to reducing greenhouse gas emissions and environmental pollution.
	Conserve and sustainably use the oceans, seas and marine resources for sustainable development	Organized 1,145 events/conferences/workshops on PVFCCo’s products and provided technical consultancy on sustainable agricultural cultivation and efficient fertilizer application.
	Protect and sustainably develop forest; biodiversity, develop ecosystem services; combat desertification; prevent the degradation of and rehabilitate land resources	Planted 305,650 trees from 2022 to 2025. Organized 1,145 events/conferences/workshops on PVFCCo’s products and provided technical consultancy on sustainable agricultural cultivation and efficient fertilizer application.
	Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels	Strictly complied with regulations on anti-corruption, building a transparent and equitable corporate governance system. Ensured information security and customer privacy protection.
	Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development	Applied core technologies to products and the value chain, integrating RFID/QR codes for traceability on packaging, and launched a strategic digital agriculture transformation project with partner Enfarm. Successfully delivered a shipment of 45,000 tons of Phu My Fertilizer to the Indian market, bringing total export volume in 2025 to 142,458.83 tons.

Stakeholders	PVFCCo’s Commitments	Engagement Methods	Engagement Frequency	Results Achieved in 2025
Employees	Ensured a safe, professional, transparent, and fair working environment where employees are empowered to fully realize their individual potential and are always heard and understood. Ensured that all employee contributions are fully recognized and appropriately rewarded. Developed and implement policies in compliance with labor laws while maximizing benefits for employees.	Periodic dialogues, held either in person or via written consultations, at the Employee Conference and the Trade Union Congress.	At least twice a year	02 employee conferences/dialogues successfully conducted. Zero employee grievances recorded regarding the working environment and compensation benefits. 100% of employee petitions and feedback thoroughly addressed. 43 initiatives and 130 production rationalization ideas recognized and implemented, generating an estimated cost-benefit of VND 100 billion. 542 ideas approved for research and development (R&D) and application. Made strong, coordinated efforts to maintain, stabilize, and gradually improve policies and benefits for employees, with particular attention to direct production workers. Accordingly, several specific adjustments and improvements have been implemented, including: revising the Employee Policy and Collective Labor Agreement to increase certain benefits compared to the previous year, such as higher travel allowances for leave, increased contributions to social insurance and Bao Viet pension insurance, higher costs for periodic health check-ups, PVI Care insurance, as well as maintaining annual sightseeing and tourism programs for employees; additionally, increasing the salary fund and welfare/reward fund.
		Employee satisfaction survey and feedback collection.	Annually
		Informal meetings to encourage the exchange of improvement ideas and initiatives.	As needed
Customers (distributors, end-users,...)	Accompanied farmers in the journey toward sustainable agriculture through practical support activities in farming techniques, social welfare contributions, and community development. Supplied high-quality products that met international standards. Complied with legal regulations on packaging, labeling, commercial practices, fair competition, and data privacy.	Engaged via hotlines and social media channels to provide consultation and received inquiries and complaints.	Daily / Regular	Surveyed 220 customers on their satisfaction levels. 91% of customers expressed satisfaction with PVFCCo’s products. 100% of customer calls were received and resolved. Organized 1,145 events, conferences, and workshops on PVFCCo products, factory tours, and demonstration models. Held 2 workshops introducing Ablue/DEF products to reduce emissions from dieselengine vehicles in Hanoi and Ho Chi Minh City. Product quality remained a top priority for PVFCCo. Phu My fertilizers and chemicals, as well as other self-traded fertilizer and chemical products supplied by the Corporation, consistently met registered quality standards. Over many years, Phu My Urea and Phu My NPK brands were trusted by farmers nationwide, were repeatedly voted as “High-Quality Vietnamese Goods,” and were recognized by the Ministry of Industry and Trade as partners of the Government’s “National Brand Program”. Effectively maintained a nationwide warehouse, port, and logistics system to ensure timely delivery of products to farmers while maintaining quality and reasonable prices. Applied the ISO 9001:2015 international quality management system to ensure stable product quality in line with declared standards. PVFCCo has established a process for receiving and handling feedback from product users.
		Organized workshops, customer conferences, proactive surveys, and customer interviews.	Surveys were conducted as needs arose
		Conducted marketing events, product launches, promotional programs, and technical guidance activities,...	As needed
Shareholders / Investors	Ensured the legitimate and sustainable interests of shareholders, maintained the growth rate of enterprise value, ensured stable dividend payouts annually, and stabilized the stock price. Complied with current laws and moved toward adopting advanced corporate governance practices and international standards. Ensured financial transparency, effective risk control, and full, timely information disclosure.	Annual General Meetings.	Annually	Annual General Meeting (AGM): 71 shareholders attended in person or by proxy, representing 64.24% of total voting shares at the AGM held in April 2025. Extraordinary General Meeting (EGM): 69 shareholders attended in person or by proxy, representing 61.94% of total voting shares at the EGM held in May 2025. 100% of financial statements were disclosed on time with full required information and were reviewed/audited by a reputable global independent auditor. 100% of required disclosures were updated on the website within 24 hours of occurrence. More than 20 engagement events were organized with over 300 investor intestor participated. Made business decisions based on the interests of the company and its shareholders.
		Periodic financial reports.	Quarterly
		Press releases and updates on the official website and social media channels.	Regularly
		In-person/online meetings to update business performance results.	Quarterly
Business Partners	The Corporation cooperated with business partners on the basis of transparency and fairness, optimized mutual benefits, and complied with the law. Always respected signed agreements and accompanied partners toward sustainable and long-term development. Did not accept any acts related to corruption or bribery in any form.	Meetings to negotiate terms of product/service supply contracts and surveys to assess service quality and supply capacity.	As needed	Organized 16 customer business conferences and seminars, including 9 domestic and 7 international events. Designed conference programs for strategic customers, focusing on premium hospitality experiences and high-quality service standards to enhance customer satisfaction and foster long-term partnerships. Collected and implemented new initiatives based on feedback and recommendations from business partners. Ensured a 100% reliable supply of natural gas and feedstock to support the safe and uninterrupted operation of the Phu My Fertilizer Plant. Successfully concluded strategic procurement contracts for the Potash, DAP, and SA product portfolio. Proactively identified and promptly resolved supply chain issues to maintain operational continuity and resilience.
Business Partners		Regular meetings to discuss progress and cooperation issues.	As agreed in the contract
Government Authorities	Strictly complied with applicable laws, fulfilled all financial obligations to the State, and ensured transparency in disclosures and periodic reporting as required by law. Proactively coordinated closely with competent authorities during inspections, examinations, and supervision processes. Actively contributed opinions to policy development to improve the legal framework and promote sustainable development in the chemical industry.	Regular meetings and workshops related to new policies and regulations.	As required by competent authorities	No legal violations occurred. 100% of tax declarations were submitted on time. Participated in 100% of working sessions with competent authorities when requested. Promoted policy initiatives for the development of the fertilizer and chemical industry and local communities. Improved internal processes to ensure compliance with new regulations.
		Submission of required reports.	As stipulated by law
		Providing feedback on draft policies and consulting via official correspondence.	As needed
		Participation in forums and events related to the fertilizer and chemical industry.	As needed
Local Communities	Prioritized the use of local labor and services from suppliers in areas where it operated offices, business locations, and production plants. Actively accompanied the parent group in implementing social welfare programs, supporting disadvantaged groups and vulnerable communities, and contributing to shared social prosperity.	Implementation of social welfare and community development programs.	Regularly	Implemented 36 community-focused programs and activities. Total spending on social welfare and community support reached VND 74.14 billion. Nearly 50 solidarity houses were supported and constructed; facilities were built, equipment was provided, and scholarships were awarded to 17 schools. Sponsored programs and equipment supporting innovation and digital transformation nationwide, including 3 STEM classrooms in Lam Dong, computer equipment for 27 primary and secondary schools in Can Tho, and 1 interactive display for Hanoi University of Science and Technology. Provided transparent reporting on PVFCCo’s activities and impacts on local communities.
		Participated in community events.	As needed
		Organized consultation sessions and gathered feedback from the community.	Depending on needs in each period
		Used social media channels to provide timely updates.	Regularly
Credit Institutions & Banks (Domestic and international commercial banks and financial institutions)	Maintain a strong credit profile and ensure timely repayment of principal and interest. Ensure transparency in financial disclosure and robust risk management. Accompany the Company in advancing sustainable finance initiatives.	Conduct regular meetings and engagement sessions between PVFCCo’s leadership and banking partners. Facilitate on-site due diligence visits to support credit limit assessments. Provide updates on capital utilization, cash flows, and PVFCCo’s financial capacity. Share financing plans for new investment projects. Demonstrate compliance with sustainability criteria to enhance access to preferential financing, including green finance.	Periodically (quarterly and annually) On an ongoing basis, depending on project progress and bank disbursement/ payment schedules	Maintained an excellent internal credit rating with major banking institutions. Ensured healthy cash flows with no overdue debt or non-performing loans. Strengthened strategic partnerships with leading financial institutions. Continued enhancing the financial risk management system in line with international standards. Standardized ESG data to strengthen readiness for green financing and optimize access to sustainable capital for the 2026–2030 period.

Stakeholders	ESG Material Topics
Employees	Occupational health and work-related illnesses Compensation, benefits, and welfare policies Talent attraction and retention policies Training and workforce development Fair and transparent performance evaluation Long-term career advancement opportunities Diversity, inclusion, and equality
Customers (distributors, end-users,...)	Fertilizer efficiency and crop productivity Product quality, safety, and traceability Reasonable and stable pricing, attractive discount policies Fair competition Personal data protection Customer service and technical support for sustainable farming practices
Shareholders / Investors	Sustainable value growth and stable dividend payouts Optimization of financial structure and efficient resource utilization Comprehensive risk management (including ESG risk management) Transparent corporate governance and conflict of interest prevention Comply with current laws and move toward international corporate governance practices Full, accurate, and timely information disclosure Balanced development between economic benefits and environmental/social impacts Reference to or compliance with globally recognized ESG standards
Business Partners, Suppliers	Fairness in business transactions Optimization of mutual benefits in partnerships Fair and transparent contractor evaluation and selection Stable, long-term partnerships Management of environmental and social impacts within the supply chain
Government Authorities	Compliance with current laws and regulations Fulfillment of obligations to the state budget Environmental and social impacts management Fair competition Accountability and transparency Emission reduction and carbon neutrality Anti-corruption and anti-bribery Digital transformation Green growth and sustainable development strategies Contribution to national sustainable development goals
Local Communities	Management of environmental and social impacts Job creation and local economic development Corporate social responsibility (CSR) Community development support Climate change
Credit Institutions & Banks	Corporate governance and risk management Financial performance and cash flow generation Transparency in information disclosure and ESG reporting Greenhouse gas emissions management and carbon credits Green finance and sustainable investment