Spreading values for a sustainable community

Responsibility to customers and product quality

Product effectiveness is monitored in practice through collaboration with the distribution network, agricultural extension centers, and farmers.

Product development is continuously promoted to enhance crop productivity, reduce post-harvest losses, and protect soil health and the rural environment.

To further strengthen customer trust in the Phu My brand, PVFCCo has implemented a wide range of initiatives to safeguard the rights, health, and safety of end users. These activities include:

Full compliance with legal regulations on transparent marketing, product information disclosure, and adherence to international standards.
Clear and informative packaging, including usage instructions, safety warnings, nutritional content, origin, and production date.
Active collaboration with agricultural extension agencies, cooperatives, local authorities, and research institutes to promote safe and effective fertilizer use. This includes guidance on the “4Rs” (right source, right rate, right time, right place) and the adoption of smart, circular, and low-emission farming practices to support sustainable agriculture and environmental protection.
Regular training and on-site guidance are provided to help farmers recognize and prevent risks such as gas inhalation, skin or eye contact, and incorrect dosage, etc.
Partnerships with relevant organizations are established to deliver training on advanced farming techniques, soil and water analysis, and plant nutrition—helping farmers access new knowledge and reduce reliance on outdated practices.
Expansion of agricultural engineering and enables us to provide “1-1” support to farmers in the field. This includes conducting field surveys, offering advice on specific crops and growth stages, and directly addressing practical issues to inform product improvement and support initiatives.
Multiple feedback and complaint channels are maintained, including hotlines, official websites, distributor networks, and a network of permanent agricultural engineers across provinces and cities.
The complaint handling process is regularly reviewed to ensure transparency, accountability, and compliance with customer data protection regulations.
Proactive brand protection measures are implemented to combat counterfeiting and imitation. These include full intellectual property registration, collaboration with authorities for market inspections, and the use of traceability barcodes and electronic anti-counterfeit labels.

years

continuously recognized as “High-quality Vietnamese goods - global integration standards”

Thanks to its sustained efforts in product responsibility and customer care, PVFCCo achieved several positive outcomes in 2024:

Phu My Fertilizer has consistently maintained its “High-quality Vietnamese goods - global integration standards” certification for over 20 consecutive years, earning a strong reputation for safety and dependability.
No serious accidents or complaints related to improper fertilizer use or product safety were reported, reflecting the Corporation’s exemplary safety record.
A demonstration model for economical, balanced, and effective fertilizer use was successfully implemented in 2024. Scientifically tailored to match specific soil types, crops, and local farming conditions, the model was applied in key agricultural regions such as the Mekong Delta, Central Highlands, and South-Central Coast. As a result, crop yields increased by an average of 7.5%, input costs were reduced by approximately 3%, and farmer profits rose by up to 29%.
Numerous farmer support seminars were organized across Mekong Delta provinces, introducing new, more efficient product lines and distributing sample products. These events attracted thousands of participants and contributed to raising awareness of safe and effective fertilizer use.

Ensuring employees welfare and compensation

Commitment to employee rights is demonstrated through internal policies that align with Vietnamese law and international conventions, ensuring:
- No discrimination based on gender, age, or region.
- No bias based on belief, religion, ethnicity, social class, or marital status.
- No use of child labor or forced labor.
- No restrictions on freedom of association, union membership, or collective bargaining, etc.
Labor contracts clearly state all salary, bonus, and benefit-related obligations and responsibilities.
Minimum starting salary is consistently maintained above the Region I minimum wage as regulated by the government.
Salary adjustments are made in accordance with job position changes or annual performance evaluations, based on the Corporation’s salary scale system.
Early salary increases are awarded to individuals with outstanding achievements and pioneering contributions to PVFCCo’s business performance.
Internal regulations related to compensation, benefits, welfare, and labor policies are widely communicated across the organization.

Average income in 2024 for managers

0VND/month

for employees

0VND/month

‌Basic salary equality is ensured across all levels - employees and managers - regardless of gender or age. In 2024, the average monthly income was 52,767,500 VND for managers and 23,118,750 VND for employees, significantly above market averages.

0%

of employees entitled to maternity leave returned to work

Maternity and childcare benefits are guaranteed in accordance with Vietnamese law. In 2024, 100% of employees entitled to maternity leave returned to work and remained with the Corporation for at least 12 months.

Trade Union mechanisms effectively connect employees with the Board, ensuring feedback is heard and addressed transparently. Roles, responsibilities, and coordination for representing and protecting employees’ rights are defined in the Executive Board’s Working Regulations for Term V (2023-2028)
Written notice of matters concerning employee rights and obligations, as well as the main topics of periodic consultations, dialogues, or negotiations, must be provided at least three working days prior to implementation. Compliance with current legal requirements and internal regulations of the Parent Group or the Corporation must be ensured, in accordance with the nature and impact of each specific issue.

All employees at PVFCCo clearly understand the benefits that they can be received according to the following public policy:

Content	Detail
Insurance and health care	Social insurance.
	Health insurance.
	Unemployment insurance.
	Voluntary pension insurance, accumulated pension insurance.
	Life insurance.
	Personal responsibility insurance Group Representative at the Corporation / Independent Member of the Board of Directors: program value of 15,000,000 VND / person / year. Management positions from Deputy Manager (and equivalent) and above: program value of 10,000,000 VND / person / year. Remaining employees: program value of 7,000,000 VND / person / year.
	Accident insurance when going on business trips abroad: insurance liability level is not less than 50,000 USD per case.
	Periodic health check-ups for workers, screening and early detection of occupational diseases by professional external medical units.
	Programs: Vaccination against flu, hepatitis B, pneumococcus. Spraying to disinfect and kill disease-causing insects such as mosquitoes, termites, cockroaches and rats. Nursing to restore health to workers after stressful working hours. Communication on seasonal disease prevention and raising awareness of self-health care.
	Toxic compensation for workers exposed to risk factors according to legal regulations.
Life benefits
	Supporting families of employees in especially difficult circumstances.
	Team building activities, annual sports festival.
	Annual sightseeing, vacation and travel activities.
	Gifts for visiting the sick, condolences.
	Gifts for International Children's Day, Mid-Autumn Festival.
	Rewards for children of employees with excellent academic performance and overcoming difficulties.
	Gifts for employees' birthdays, War Invalids and Martyrs Day, Vietnam People's Army founding day.
Female employee benefits
	Gifts for International Women's Day, Vietnamese Women's Day.
	Maternity benefits.
	Appropriate work and rest regimen during monthly menstrual cycle.
	Cultural and spiritual programs on important anniversaries are held to honor the role and contributions of women in business.
	Education, training and career orientation programs for children of female employees.
Support and rewards
	Specialized health check-up (female workers, workers with occupational diseases).
	Honor and reward employees with outstanding achievements.
	Safety bonus, standard savings bonus.
	Periodic bonuses for groups and individuals based on business performance.
	Reward individuals with outstanding initiatives, scientific research, and technological innovation.
	Preferential stock purchase rights (ESOP) are regulated from time to time.
	Support employees with difficult circumstances.
	Bonus points, not to exceed 10% of the maximum total score, may be awarded to children of employees from the Corporation and its member units who meet all the requirements and demonstrate the necessary working capacity for the recruitment position during the application process to PVFCCo.
	Suitable employment will be arranged for the children of employees who die due to work-related accidents or while on duty. These positions will be based on the children's qualifications and health, and they will be exempt from the normal recruitment process.
	The Corporation provides a seniority allowance for retired employees. It also offers support for members of the PVFCCo Retirement Liaison Committee, including those who have retired or are retired due to a loss of working capacity. This support is provided in accordance with the regulations of the Oil and Gas Mutual Fund, which is organized by the Parent Group and the Corporation.
	Employees who wish to cease management or work-handling duties in the final three months before retirement are permitted to do so while continuing to receive their full salary, bonuses, and benefits. Certain special benefits, such as shift meals, travel support, and toxic allowances, etc, are excluded.

Ensuring occupational health and safety

Recognizing these risks, PVFCCo considers occupational health and safety (OHS) a fundamental prerequisite for the sustainable and uninterrupted operation of its factories, branches, and dependent units. To this end, the Corporation has implemented a comprehensive set of measures to prevent and mitigate risks related to workplace accidents, occupational diseases, and fire hazards. These measures are reviewed and deployed annually in full compliance with applicable legal regulations. PVFCCo’s Health – Safety – Environment (HSE) management system is fully aligned with the ISO 45001 standard and is guided by the following principles:

Installation of safety infrastructure, including a complete system of signage, hazard warnings, evacuation maps, and chemical and radiation information boards in key and highly visible areas throughout the factory.
Provision of personal protective equipment (PPE) tailored to each job position and associated risk level, such as chemical-resistant clothing, gas masks, gloves, safety shoes, harnesses, and impact-resistant helmets, etc.
Investment in fire safety systems, including the strategic placement, regular inspection, and maintenance of fire extinguishers, nozzles, fire cabinets, automatic fire alarms, and emergency eyewash stations to ensure accessibility and functionality, etc.
Organization of mandatory annual training and emergency drills for all employees. These programs are designed to disseminate and update knowledge on occupational health and safety in accordance with legal requirements and ISO 45001. Training covers emergency responses to fires, explosions, chemical spills, and natural disasters, as well as the proper use of PPE and safety equipment. The goal is to enhance incident response capabilities and strengthen coordination across departments.
Monitoring and documentation of HSE training participation, with all completion records securely stored in accordance with legal retention requirements.
Development and annual update of a comprehensive safety improvement plan, which includes upgrading machinery, redesigning workspaces, enhancing automated safety systems (e.g., toxic gas sensors, interlocking valves), rearranging pipelines, and optimizing operating technologies to control risks at their source.
Maintenance of the Occupational Health and Safety Council, established in 2016, to support continuous improvement in working conditions and the implementation of OHS policies. Key responsibilities include:
- Advising and coordinating with the Corporation in the development of internal regulations, procedures, and plans related to Occupational Health and Safety (OHS).
- Proposing and monitoring the implementation of safety measures across the organization.
- Facilitating workplace dialogue sessions to strengthen communication and information exchange between PVFCCo and its employees.
- Conducting periodic inspections of OHS practices and recommending corrective actions to the Corporation when unsafe risk factors are identified during production activities.
Implementation and continuous improvement of the 5S program at the General Office Block and Phu My Fertilizer Plant. This includes regular seminars to promote a clean, green, and organized working environment
Ongoing enhancement of the Safety Training Observation Program (Safety Training Observation Program - STOP) (STOP) at the Phu My Fertilizer Plant. The program encourages employees to promptly report hazards related to personal protective equipment, work procedures, tools and equipment, working posture, contractor activities, and environmental conditions, etc.
Application of a Risk Management System aligned with Risk-Based Inspection (RBI) and Process Safety Management (PSM) standards. This system is designed to control risks associated with hazardous chemical production processes. PVFCCo conducts periodic evaluations and continuously improves operating procedures to proactively identify, and address equipment or process instabilities based on PSM risk assessments.
Deployment of real-time equipment monitoring software (System 1) to track critical parameters such as pressure, temperature, flow, and vibration. The system is configured to issue immediate alerts to the operations team upon detecting abnormal readings, enabling timely intervention and minimizing the risk of serious incidents.
Operation of an on-site Medical Station at the Phu My Fertilizer Plant to provide first aid and initial medical care during working hours. At the corporate level, the Medical Department oversees comprehensive health services, including routine check-ups, disease prevention, occupational health management, and hygiene monitoring particularly in communal kitchen areas.
Preparation and timely submission of semiannual occupational health reports from each unit to local regulatory authorities, ensuring compliance with legal requirements
Close monitoring of employees with health conditions, including assigning them to work areas with noise levels below 85 dBA, reducing exposure time, and conducting regular health check-ups to manage disease progression.
Strict implementation of the Coordination Regulations signed with the Ba Ria – Vung Tau Provincial Police for the 2019-2024 period. This partnership supports efforts to maintain security, order, and fire prevention at the Phu My Fertilizer Plant.
Annual collection of feedback from third parties through official correspondence at year-end. This feedback is used to evaluate and improve the following year’s HSE plans and initiatives.

PVFCCo has established comprehensive regulations and procedures for the safe storage and use of chemicals to ensure safety throughout its production and business operations. Key measures include:

Strict compliance with chemical management regulations issued by the Ministry of Industry and Trade. All chemical storage areas are designed based on risk prevention principles to ensure operational safety and prevent incidents.
Tight control over the entire chemical lifecycle, from receipt to usage. This includes proper labeling, consumption tracking in accordance with established standards, and storage in specialized warehouses that meet regulatory requirements.
Rigorous management of radioactive sources used in level-measuring equipment. This involves obtaining the necessary licenses, conducting regular inspections, and providing comprehensive safety training for all relevant personnel.
Comprehensive risk assessments conducted every five years at the Phu My Fertilizer Plant. These assessments identify potential hazards, evaluate their likelihood and consequences, define high-risk areas (e.g., chemical or radioactive leak zones), and propose appropriate control measures to minimize risks and ensure worker safety.
Establishment of a Chemical Incident Response Command Board and grassroots response teams, with clearly defined organizational structures and responsibilities to ensure swift and effective responses that minimize harm to personnel and property.

PVFCCo’s emergency preparedness and response activities are guided by the following principles to ensure proactiveness, timeliness, and effectiveness:

Emergency response is prioritized at the highest level, supported by a comprehensive system that includes prevention, incident handling, and post-incident recovery. All activities are conducted in strict accordance with current legal regulations and international standards.
Rescue of personnel is the top priority in the event of an incident. Immediate response measures include preventing exposure to hazardous chemicals or radiation, controlling the source of the leak, and isolating the affected area. Actions are adapted flexibly based on the actual situation on site.
Initial first aid is provided by the Factory’s Medical Station, followed by prompt transfer of injured individuals to Ba Ria – Vung Tau Hospital. In severe cases involving radiation or toxic chemical exposure, patients are transferred to higher-level facilities such as Cho Ray Hospital in Ho Chi Minh City for intensive care.
The affected area is cordoned off with warning signs and physical barriers once the situation is under control. Soil, water, and air samples are collected to assess contamination levels.
A specialized environmental response team is responsible for collecting, cleaning, and treating the affected area using appropriate methods to ensure no harmful residues remain that could endanger human health or the surrounding ecosystem.

Comprehensive damage assessments are conducted across multiple dimensions:

Economics: number of damaged equipment units, repair or replacement costs, and losses of chemicals and raw materials, etc.
People: number of affected workers and associated treatment and healthcare costs, etc.
Surrounding facilities: applicable in cases where the incident affects nearby residential areas, causing damage to homes or community property.
Environment: residual pollution such as toxic gases or chemically contaminated soil that has not been fully remediated, etc.

Based on the legal framework, in the event of an incident classified as Level II, the People’s Committee of Ba Ria - Vung Tau province shall take the lead in assessing the damage. For a Level III incident, the Ministry of Agriculture and Environment will coordinate with central authorities to determine the extent of the harm. A comprehensive plan to address the consequences and provide compensation to affected parties will be developed and executed in accordance with current legal regulations and the specific authority responsible for managing the incident level. This approach ensures that remediation and compensation are handled efficiently and in compliance with established protocols

In addition, PVFCCo regularly conducts internal evaluations and inspections to assess the quality and effectiveness of its Health - Safety - Environment (HSE) management system. These activities are carried out in accordance with the HSE System Periodic Inspection and Evaluation Planning Process, which includes the following key components:

Annual assessment plans are developed and implemented across all organizational levels, including the Corporation Office, Plant, Project Management team, Branches, departments, and production teams - to ensure a comprehensive and systematic evaluation process throughout the organization.
Evaluation procedures are conducted in compliance with international standards, including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. Assessments may take the form of general inspections, thematic inspections, or inspections following extended production shutdowns. Additional evaluations are conducted before or after the rainy season, after technical incidents or major repairs, and as part of the annual inspection schedule.
Minimum inspection frequencies are clearly defined: once per year for all departments, offices, and member companies; at least twice per year (every six months) for the factory; and quarterly (four times per year) for factory departments, units, and chemical business branches.
Internal inspection and assessment teams must include at least two officers from the Corporation. All team members are required to have relevant expertise, complete internal assessor training, and maintain independence from the unit being evaluated. This ensures that the assessment results are objective and accurately reflect the actual conditions.

To ensure occupational safety within the Phu My Fertilizer Plant, PVFCCo applies a set of stringent principles for managing service providers and contractors:

Suppliers are evaluated and selected per project based on their compliance with safety criteria outlined in Vietnamese laws, local authority regulations, and the internal rules of the Phu My Fertilizer Plant. This ensures that all partners meet the required standards for safety and operational integrity.
Verification of each supplier’s capacity profile and construction plan is conducted to ensure alignment with the specific technical requirements and practical conditions of the project.
Before commencing work, contractors must complete all required procedures, including work permit registration, occupational safety training, and inspection of machinery and equipment in accordance with technical standards.
Suppliers are responsible for preparing and maintaining HSE documentation, including occupational safety and environmental risk assessments, and for promptly managing any unplanned situations that may arise.
A robust monitoring and inspection mechanism is maintained throughout project implementation to ensure full compliance with occupational health and safety, environmental protection, quality standards, and project timelines.
Upon project completion, a comprehensive performance evaluation is conducted using an acceptance checklist. This assessment serves as a basis for improving future cooperation and reviewing the suppliers’ eligibility for upcoming projects.

0%

employees

have complete health management records

0

devices

successfully registered and inspected

Thanks to the collective efforts of all employees, PVFCCo achieved several notable milestones in occupational health and safety in 2024:

100% of employees have complete health management records, ensuring systematic monitoring of workforce well-being.
No fatalities or serious incidents related to Health – Safety – Environment (HSE) were recorded throughout the year.
0 case of occupational deafness was officially diagnosed at PVFCCo in 2024, based on conclusions from the Medical Examination Council in accordance with current legal procedures and regulations.
A health consultation and occupational deafness prevention workshop was successfully organized in collaboration with the Ho Chi Minh City Nutrition Institute (NRI) and the Southern National Institute of Occupational Safety and Health (SNIOSH).
69.8% of reported unsafe conditions were identified through STOP cards. All reports were thoroughly investigated to determine root causes, followed by the implementation of corrective actions. Detailed records and statistics were maintained for ongoing monitoring and future prevention.
A total of 1,853 devices subject to strict safety regulations were successfully registered and inspected in accordance with legal requirements.
The Phu My Fertilizer Plant operated safely and continuously for 365 days, with no unplanned equipment shutdowns, thereby extending the service life of machinery and equipment.
Internal security was effectively maintained through 24/7 surveillance, including camera systems, access control, and thorough checks of personnel and vehicle records before each shift, etc.

Human resource training and development

As members of PVFCCo, employees are encouraged to continuously develop their personal and professional capacities through a comprehensive training system. This system spans from onboarding programs for new hires to advanced courses that enhance soft skills, strengthen management capabilities, foster innovative thinking, and expand professional knowledge. A culture of lifelong learning is actively promoted across the organization. Training content is regularly reviewed and tailored to align with each employee’s career development roadmap and the practical requirements of their role. Each year, PVFCCo designs a detailed training plan based on the actual needs of its departments and divisions. The plan is implemented and its effectiveness monitored in accordance with the Training Management Regulations and a standardized training process. Lecturers and experts are carefully selected to ensure they possess the necessary qualifications, practical experience, and teaching skills. Employees who successfully complete their learning tasks are considered for recognition and rewards, helping to foster motivation and a strong culture of self-improvement.

0

training hours/
employee

On average, each employee completed in 2024

In 2024, the training forms and methods applied at PVFCCo include:

Specialized training delivered by internal experts or external consultants from globally recognized organizations.
Mentorship programs led by experienced managers provide hands-on guidance and knowledge transfer.
Practical on-the-job training for technical staff through direct instruction and experience sharing.
Blended learning that integrates in-person sessions with online modules via digital platforms.
E-learning programs using video lectures hosted on the Corporation’s digital training system.
Educational support, including tuition assistance for university degrees, second degrees, postgraduate studies, foreign language courses, and participation in external seminars and forums (including leadership training organized by PVN).
Internal communication of policies and regulations through thematic meetings, conferences, and corporate events.

0

training courses

with the participation of

0

employees

Training content covered a broad spectrum of topics, such as:

Professional knowledge across disciplines including technical operations, finance, human resources, business administration, environmental and greenhouse gas management, etc.
Occupational health and safety, fire prevention, equipment maintenance, and troubleshooting, in compliance with current legal regulations.
Security training on internal safety protocols, access control, individual responsibilities on factory premises, human rights fundamentals, and procedures for addressing legal non-compliance.
Human rights and workplace conduct, including anti-discrimination, respect for diversity, anti-harassment, and equality across all employee groups.
Emerging knowledge areas, such as sustainable development, digital transformation, energy transition, new technology trends, and the application of artificial intelligence (AI) in business operations.
Certification preparation, with 10 training courses designed to enhance the professional capacity of 95 technical and production management staff for international vocational certification exams.
Corporate culture development, featuring flagship programs like “7 Habits of Highly Effective People,” “Trust-Building Culture,” and “HappinessCreating Culture.”
Leadership development for senior and mid-level managers through the “Leadership with the Power of Belief” program, co-organized with FranklinCovey Vietnam.

Under the continuous guidance of the Board of Directors, PVFCCo successfully delivered 143 training courses to 8,140 employees, with a total investment exceeding 10.7 billion VND. On average, each employee completed 9.7 training hours in 2024. Notably, 100% of security personnel at the Phu My Fertilizer Plant received full training prior to deployment. PVFCCo believes these efforts have significantly enhanced the qualifications, skills, and strategic thinking of its staff, enabling them to effectively meet the requirements of organizational restructuring, operational streamlining, and adapting to new challenges.

1

ABOUT PVFCCO

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DEVELOPMENT FOR COMMON PROSPERITY

3

SHARING RESPONSIBILITY FOR A GREEN PLANET

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SPREADING VALUES FOR A SUSTAINABLE COMMUNITY

5

TRANSPARENCY AND EFFECTIVENESS FOR A PROSPEROUS FUTURE

Appendix: GRI Index

Chairman’s message

Performance Highlights 2024

Overview of Sustainability Report

CHAPTER

04

Spreading Values for a Sustainable Community

MAINTAINING AND DEVELOPING A HIGH-QUALITY WORKFORCE

ATTRACTING AND RETAINING TALENTS

ENSURING EMPLOYEES WELFARE AND COMPENSATION

HUMAN RESOURCE TRAINING AND DEVELOPMENT

ENSURING OCCUPATIONAL HEALTH AND SAFETY

SHARING RESPONSIBILITY WITH THE COMMUNITY

RESPONSIBILITY TO CUSTOMERS AND PRODUCT QUALITY

RESPONSIBILITY TO COMMUNITY AND SOCIETY

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