PVFCCo – Phu My and Topsoe Sign Expanded Cooperation Agreement After Over Two Decades of Partnership

Copenhagen, Denmark – October 19, 2026: Within the framework of the working visit by the high-level delegation of Vietnam National Industry - Energy Group (Petrovietnam) to Copenhagen, Denmark, PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo – Phu My) and Topsoe A/S (Denmark) signed a Cooperation Agreement. This milestone marks a significant upgrade in the trusted partnership spanning more than two decades between the two nations' leading enterprises, unlocking new growth avenues in advanced technology, chemicals, and sustainable energy transition.

The signing ceremony was witnessed by Mr. Le Manh Cuong – President & CEO of Petrovietnam, Mr. Nguyen Van Mau – Member of the Board of Directors of Petrovietnam, alongside representatives from the Executive Management of Topsoe A/S.

At the Vietnam – Denmark Business Forum held on October 20, 2026, during the State Visit to the Kingdom of Denmark by General Secretary and State President To Lam, representatives of PVFCCo – Phu My and Topsoe A/S exchanged the Cooperation Agreement. The exchange took place in the presence of His Majesty King Frederik X of Denmark, General Secretary and State President of the Socialist Republic of Vietnam To Lam, alongside leaders of ministries, government agencies, local authorities, and numerous Vietnamese and Danish enterprises.

A Solid Foundation of Cooperation Built Over Two Decades of Phu My Fertilizer Plant Operations

The partnership between PVFCCo – Phu My and Topsoe dates back to the inception of the Phu My Fertilizer Plant. Haldor Topsoe served as the technology licensor for the plant's Ammonia (NH3) production unit—a world-leading, advanced technological solution in gas processing and petrochemicals.

Over the past two decades, both parties have established a close technical coordination mechanism spanning commissioning, day-to-day operations, and major plant turnarounds. Topsoe’s international experts and PVFCCo – Phu My engineers have continuously optimized system performance, maximizing operational stability and equipment reliability.

Driven by superior technology and rigorous operational discipline, Phu My Fertilizer Plant has maintained safe, reliable operations, consistently meeting and exceeding design capacity. Notably, the Ammonia plant set a record of 678 consecutive operating days and has been awarded Topsoe's Certificate of Operational Excellence on three occasions. This has made significant contributions to PVFCCo – Phu My’s business performance and national food security, particularly during volatile and challenging periods such as the COVID-19 pandemic and international geopolitical conflicts.

Elevating Partnership to New Heights: Driving Impetus for Green Growth

Building upon past achievements, the newly signed Cooperation Agreement establishes an expanded partnership framework between PVFCCo and Topsoe in their next phase of development. Both sides agreed to collaborate on researching, evaluating, and exploring potential project implementation opportunities in Vietnam, leveraging each party's core strengths:

• Optimizing and advancing the chemical value chain: Deploying advanced gas processing technologies, energy recovery solutions, enhancing resource efficiency, and reducing emissions.

• Energy transition and low-carbon technologies: Evaluating solutions for low-carbon ammonia production, green hydrogen, and new energy derivatives aligned with global trends.

• Comprehensive technical collaboration: Continuing expert exchanges, optimizing operational technologies, and advancing high-tech technical capabilities for engineering personnel.

Proactively expanding this partnership not only boosts operational efficiency at existing production facilities but also lays a solid foundation for PVFCCo – Phu My's strategy to diversify its chemical product portfolio and transition toward a green growth model.

Affirming a Vision of Global Integration and Sustainable Development

A representative of PVFCCo emphasized that the Cooperation Agreement with Topsoe is a consistent step within the Corporation’s long-term development strategy. Backed by a robust manufacturing foundation honed over two decades, expanding international cooperation will inject fresh momentum, enabling Phu My to steadily transition from a traditional fertilizer producer into a modern chemical enterprise that actively creates green, sustainable value for the future.

Fostering international partnerships also serves as an effective mechanism for PVFCCo – Phu My to integrate more deeply into global value chains and networks. Across the Group, Petrovietnam consistently encourages and facilitates its member companies to proactively broaden international ties with world-class technology leaders, aiming to stay ahead of the energy transition curve and realize the Group's sustainable development objectives.

CORPORATE INFORMATION

About PVFCCo – Phu My:

PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo – Phu My, stock code: DPM) is a core member of the Vietnam National Industry - Energy Group (Petrovietnam). PVFCCo owns and operates Phu My Fertilizer Plant, supplying high-quality fertilizer lines (Phu My Urea, Phu My NPK, Phu My DAP, Phu My Organic fertilizers, etc.) and specialized chemicals (NH3, UFC85, DEF – Phu My Green) to the market. The Corporation is actively expanding its value chain, adopting international corporate governance standards, and driving forward sustainable, environmentally friendly solutions.

Website: https://dpm.vn

About Topsoe Group (Denmark):

Topsoe A/S (formerly Haldor Topsoe) is a global leader headquartered in Denmark, specializing in the development of technologies, engineering solutions, catalysts, and proprietary equipment for the chemical, refining, and energy industries. Topsoe is at the forefront of researching and delivering technological solutions for the energy transition, low-carbon ammonia, green hydrogen, and renewable fuels worldwide.

Website: https://topsoe.com