PVFCCo – Phú Mỹ (DPM) Targets VND 17.6 Trillion Revenue and Accelerates Green Transformation

On the morning of April 23, 2026, at the Phú Mỹ Ammonia Plant Conference Hall (Ho Chi Minh City), the Annual General Meeting of Shareholders – 2026 Regular Session of Petrochemical Fertilizer and Chemicals Corporation - Vietnam (PVFCCo – Phú Mỹ, Code: DPM) was successfully held.

Attending the meeting on the major shareholder side was the Vietnam National Energy-Industry Group (PetroVietnam) represented by Mr. Bùi Minh Tiến – Member of PetroVietnam's Board of Directors, and Mr. Lê Xuân Huyên – Deputy General Director in charge of PetroVietnam's Executive Board. From DPM's side were Mr. Nguyễn Xuân Hòa – Chairman of the Board; Mr. Phan Công Thành – Board Member and General Director; key officials of the corporation; shareholders; and representatives from Deloitte Vietnam – the auditor of DPM's Financial Report.

2025 Results: Strong Performance Exceeding Plan

At the meeting, many important matters were adopted, focusing on 2025 production and business results, 2026 plan, profit distribution scheme, investment development orientation, governance matters, addition of business sectors, and completing the leadership structure. All items received strong shareholder consensus, laying foundation for Phú Mỹ's next development phase.

Specifically, in production operations, during 2025, DPM maintained stable, safe operations while optimizing output: Phú Mỹ Nitrogen reached 889.2 thousand tons, Phú Mỹ NPK reached 203.6 thousand tons—a strong 53% increase compared to the previous year. Meanwhile, the chemicals and commercial products segment continued recording growth, contributing to product portfolio diversification and creating additional development momentum.

On business performance, despite volatile fertilizer and chemical markets, DPM achieved positive results, significantly exceeding plan. Consolidated total revenue reached VND 17,074.7 trillion, completing 133% of plan; pre-tax profit reached VND 1,352.6 trillion, equaling 330% of plan; after-tax profit reached VND 1,095 trillion.

Beyond production and business results, 2025 also marked important financial and governance advances when DPM completed increasing charter capital to nearly VND 6,800 trillion. Governance work continued strengthening through perfecting the risk management system, accelerating digital transformation achieving 3.0 maturity level, implementing sustainable development orientations, and building the 2026-2030 development strategy with vision to 2050.

2026 Plan: Consolidated Revenue Target of VND 17.6 Trillion

Entering 2026, DPM sets a consolidated revenue target of VND 17.6 trillion, continuing to affirm its position as a leading fertilizer enterprise while gradually expanding into chemicals. Pre-tax profit is projected at VND 850 trillion, reflecting cautious yet flexible management orientation amid volatile market conditions. Meanwhile, DPM projects a dividend payout ratio of 12% of charter capital.

To achieve these objectives, DPM continues identifying fertilizer production and business as the core foundation, with production plan of over 900 thousand tons of Urea Phú Mỹ, approximately 180 thousand tons of NPK Phú Mỹ, and other fertilizer products. Concurrently, business operations are guided with market flexibility, optimizing the distribution system, and accelerating domestic sales and exports.

For new products, DPM continues advancing the development and commercialization of chemical product lines and high-value-added products, while expanding high-quality fertilizer product lines and green products such as organic and microbial varieties, meeting sustainable agriculture trends and increasingly diverse market demands.

In parallel, DPM continues enhancing governance quality, accelerating digital transformation, implementing sustainable development solutions, thereby improving comprehensive operational efficiency and market adaptation capability.

Investment and Development: VND 1.164 Trillion Capital Plan

In this planning period, the investment-development sector is a major highlight. In 2026, DPM projects total capital investment demand of VND 1,164.3 trillion to accelerate new chemical projects, particularly the H₂O₂ (hydrogen peroxide) project. Simultaneously, Phú Mỹ focuses on new product research, applying science and technology, and innovation to increase the value of existing products.

In Q1/2026, DPM achieved promising business results despite unfavorable market fluctuations, high input material costs, and intense international price competition. Specifically, through flexible management strategy and distribution system optimization, the unit recorded production and consumption volumes of fertilizer and chemical products far exceeding plan. Notably, estimated total revenue reached VND 5,706 trillion, achieving 150% of Q1/2026 plan and 32% of annual plan; pre-tax profit is estimated at VND 515 trillion, achieving 61% of 2026 annual plan. Q1/2026 production and business results clearly reflect effective governance, flexible management, and good opportunity utilization by DPM in a context where domestic and international markets remain volatile, with main indicators all exceeding plan.

Based on this foundation, leadership commits to continuing efforts in governance and operations to excellently complete 2026 production and business targets.

Personnel Matters: Board Strengthening

Regarding personnel, shareholders elected 2 additional Board Members (including 1 independent member) and reassigned and elected additional Audit Committee members. Board strengthening was conducted to meet development requirements, comply with legal regulations, and follow advanced international governance practices. As results, Mr. Cao Chí Kiên was elected Board Member, Mr. Triệu Quốc Tuấn was elected Independent Board Member, Mr. Nguyễn Công Minh was elected Audit Committee Member, and Mr. Huỳnh Kim Nhân was relieved as Audit Committee Chair.

Shareholder Discussion and Management Response

During the discussion, shareholders focused on: Phú Mỹ's forecasts and solutions regarding Middle East conflicts, domestic and global fertilizer market outlook, pricing and supply sources, raw material transportation costs amid geopolitical impact, business strategy for the next 5 years, development of new DAP Phú Mỹ product, among other matters. The leadership answered comprehensively, demonstrating open-mindedness, transparency, and proactive management spirit as well as long-term, sustainable development planning.

PetroVietnam's Support and Guidance

Representing the major shareholder Vietnam National Energy-Industry Group (PetroVietnam), Mr. Lê Xuân Huyên – Deputy General Director in charge of Executive Board, acknowledged and praised the collective efforts of DPM's workforce in overcoming numerous difficulties and challenges to achieve outstanding accomplishments in 2025, thereby positively contributing to PetroVietnam's overall growth and national economic development.

Entering 2026, even in Q1, DPM strived to overcome market volatility challenges and well-leveraged opportunities, achieving impressive results exceeding targets and maintaining positive growth momentum, creating favorable conditions for excellently completing the full-year plan.

To successfully implement the 2026 plan, PetroVietnam leadership requested DPM focus on key priority tasks, particularly emphasizing ensuring safe and stable plant operations; accelerating new project implementation; promoting innovation and developing new environmentally-friendly products, green products, and chemical sector products; while continuing to care for and protect employee interests.

As major shareholder, PetroVietnam commits to continuously accompanying and creating favorable conditions for DPM's sustainable development, including ensuring stable gas supply for production. Group leadership also expressed the hope that shareholders continue close cooperation and partnership with PetroVietnam to support DPM in completing the 2026 plan and maintaining growth momentum in coming years.

Leadership Commitment

On behalf of the leadership, board of directors, and employees, Mr. Phan Công Thành – Board Member and General Director, sincerely thanked PetroVietnam and shareholders for their accompaniment; while absorbing guidance opinions and committing to unified effort to enable the corporation to excellently complete 2026 production and business plan, continue elevating Phú Mỹ brand position in the market, and fulfill tasks assigned by the General Meeting of Shareholders.

Resolutions and minutes of the meeting will be announced by the corporation according to regulations.