Vingroup Joint Stock Company · HOSE:VIC

Vingroup Joint Stock — Vingroup — Q4 2025 Earnings Presentation

36 slides from Vingroup Joint Stock's earnings presentation, January 2026

  1. Slide 1: Vingroup 4Q2025 Earnings Presentation

    VINGROUP 4Q2025 Earnings Presentation

  2. Slide 2: Important Notice

    4Q2025 EARNINGS PRESENTATION Important Notice IMPORTANT: The information contained herein is preliminary and subject to change without notice, its accuracy is not guaranteed, has not been independently verified and may not contain all material information concerning Vingroup Joint Stock Company (the

  3. Slide 3: Agenda

    4Q2025 EARNINGS PRESENTATION Agenda 1 Business Highlights 2 Business Updates 3 Financial Summary 4 2026 Outlook

  4. Slide 4: 1. Business Highlights

    =... EARNINGS PRESENTATION 4

  5. Slide 5: FY2025 Highlights

    4Q2025 EARNINGS PRESENTATION FY2025 Highlights Unit: VND billion 2025 Industrials 91,515 Real Estate Development & Services” 201,952 Social Enterprises 12,053 Others! 35,008 Total adjusted revenue® 340,528 2024 49,696 128,578 10,431 23,639 212,344 > rr PP Pe Change 84% 57% 16% 48% 60% Revenue VND 33

  6. Slide 6: Public investment disbursements and retail sales

    Public investment disbursements (VND trn) % to annual budget plan Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY IDN MYS PHL THA VNM 2021 2022 2023 2024 2025 2026F 2021 2022 2023 2024 2025 700 600 500 400 Total retail sales 300 Retail sales of goods and services 200 Services 100 0 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24

  7. Slide 7: Public investment and private capital

    Public investment • • • • Private & socialized capital • • • • • • • • Public • • • • investment Private & socialized capital • • • •

  8. Slide 8: 2. Business Updates

    EARNINGS PRESENTATION ‘Busine 56 Updates %& |

  9. Slide 9: Industrials: Operational highlights

    4Q2025 EARNINGS PRESENTATION Industrials Operational highlights 86,557 171,962 EV deliveries globally 4Q2025! E-scooter deliveries 4Q2025 we +63% YoY +452% YoY 196,919 406,498 ee EV deliveries globally FY2025! E-scooter deliveries FY2025 . +102% YoY +473% YOY

  10. Slide 10: Q1 Q2 Q3 Q4

    150 100 50 - Q1 Q2 Q3 Q4 2025 • • ✓ ✓ ✓ ✓ ✓ ✓ • • ✓ ✓ ✓ ✓

  11. Slide 11: Vietnam: VinFast Setting New Benchmarks in the Domestic Market

    4Q2025 EARNINGS PRESENTATION Vietnam: VinFast Setting New Benchmarks in the Domestic Market Electric passenger vehicles - Widening market lead E-scooter: Sales growth led by innovative models Gaining on overall market share and topping best seller charts ‘000 cars delivered Total delivery Total deli

  12. Slide 12: Manufacturing: Strengthening Domestic Capacity

    4Q2025 EARNINGS PRESENTATION Manufacturing: Strengthening Domestic Capacity Current localization rate >60% Number of suppliers Target localization rate by end of 2026 ~80% Number of int'l suppliers established plants in Vietnam Source: Company Information Hai Phong Manufacturing Plant Ha Tinh Manufa

  13. Slide 13: Residential

    Residential VND 188.1 trillion Revenue! from property sales in FY2025 +27% YoY VND 205.3 trillion Vinhomes’ contracted sales in FY2025 +100% YoY VND 186.4 trillion Vinhomes' unbilled sales as of Dec-25 +98% YOY Note: 1 Figures are adjusted, adding bulk sales. efi ent and Se

  14. Slide 14: Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2

    ✓ 20 ▲ ▲ 15 10 ✓ 5 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ✓ 2023 2024 2025 2023 2024 2025 8 ▲▲▲ 240 ▲ 6 ▼ 200 160 4 120 80 2 40 - - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025 2023 2024

  15. Slide 15: Dec-21 Dec-22 1Q2025

    200.0 180.0 ▲ 160.0 140.0 120.0 100.0 80.0 60.0 40.0 20.0 - 2021 2022 2023 2024 2025 Dec-21 Dec-22 Dec-23 Dec-24 Jun-25 Dec-25 2021 2022 2023 2024 2025 1Q2025 2Q2025 3Q2025 4Q2025

  16. Slide 16: Upcoming high-speed rail

    • • • • • • • • • • • • • • • • • Upcoming high-speed rail Upcoming

  17. Slide 17: Hospitality & Entertainment

    — Stic aml “a —_ 4@2025 EARNINGS PRESENTATION v ea Estate Development and Services Hospitality & Entertainment Hospitality and Entertainment t) Occupancy rate of C.52% Vinpearl in FY2025) +7ppt YoY c. 9.1 million Number of visits to VinWonders in FY2025) +17% YoY VND 11,476 billion Hospitality and e

  18. Slide 18: KHM IDN MYS

    KHM IDN MYS THA VNM 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% 200% 140% 80% 20% KHM IDN MYS THA VNM

  19. Slide 19: 2019 2022 2023 2024 2025 4Q2024 4Q2025 2019 2022 2023 2024 025 4Q2024 4Q2025

    2019 2022 2023 2024 2025 4Q2024 4Q2025 2019 2022 2023 2024 2025 4Q2024 4Q2025 ➢ ➢

  20. Slide 20: 2019 2022 2023 2024 2025 4Q2024 4Q2025 2019 2022 2023 2024 025 4Q2024 4Q2025

    2019 2022 2023 2024 2025 4Q2024 4Q2025 2019 2022 2023 2024 2025 4Q2024 4Q2025 ➢ ➢

  21. Slide 21: Hospitality: Elevating Customer Experience with New Developments

    4Q2025 EARNINGS PRESENTATION 21 Hospitality: Elevating Customer Experience with New Developments Ground breaking of 650 ha residential and resort urban area - Premium hot spring resort sports complex including 18-hole international standard golf course Japanese-themed amusement park 235-room hotel w

  22. Slide 22: Other Businesses

    Other Businesses

  23. Slide 23: Other Businesses Updates: Shaping the Future through Innovation

    4Q2025 EARNINGS PRESENTATION 23 Other Businesses Updates: Shaping the Future through Innovation VinRobotics and VinMotion are advancing in humanoid VinSmart Future |: hi hi VIN SMART YZ vinrosotics inSmart Future launches a super app that connects robot development all products and services across V

  24. Slide 24: Other Businesses Updates: Accelerating Clean Energy Deployment

    4Q2025 EARNINGS PRESENTATION Other Businesses Updates: Accelerating Clean Energy Deployment in Support of Vietnam’s Net-Zero Goa VinEnergo activating clean energy projects across Vietnam Pipeline power plant projects GQ) Hai Phong LNG plant + Location: Hai Phong . + Capacity: 4,800 MW . + Size: 98.5

  25. Slide 25: 3. Financial Summary

  26. Slide 26: Property and non-property revenue

    2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 Property revenue Non-property revenue

  27. Slide 27: Revenue by segment

    2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 Property sales Industrials Hospitality & entertainment Education Healthcare Others 2022 2023 2024 2025 2022 2023 2024 2025

  28. Slide 28: 9,000 7,000 5,000 3,000 1,000 (1,000) (3,000) (5,000) 2022 023 2024 2025 2022 2023

    9,000 7,000 5,000 3,000 1,000 (1,000) (3,000) (5,000) 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025

  29. Slide 29: Debt, assets and equity

    Property sale Industrials Hospitality & entertainment Healthcare & education Dec-22 Dec-23 Dec-24 Dec-25 2022 2023 2024 2025 Others Total Debt / EBITDA Net Debt / EBITDA Total assets Total equity

  30. Slide 30: Debt breakdown and maturity

    Bank borrowings and others Syndicated loan & Int'l bond Domestic bond Revolving bank loan Less than 1 year 1-3 years 3-5 years More than 5 years

  31. Slide 31: Leverage, Coverage and Other Ratios

    4Q2025 EARNINGS PRESENTATION Leverage, Coverage and Other Ratios FY2025 FY2024 Change Leverage ratios Net debt!?/ EBITDA? 2.7x 2.3x +0.4x Net debt! / (Total assets - cash & ST investments”) 24.1% 20.1% +400Bps Coverage ratios Recurring revenue / Interest expense® 4.8x 4.2x +0.6x EBITDA / Interest ex

  32. Slide 32: 4. 2026 Outlook

  33. Slide 33: 2026 Outlook (1)

    4Q2025 EARNINGS PRESENTATION 33 2026 Outlook (1) VinFast aims to lead the green transition in high-growth markets by leveraging its long-term manufacturing, tech, and ecosystem foundations * Markets: Continue strengthening the leadership position in * Products: Vietnam and deepen presence in core in

  34. Slide 34: 2026 Outlook (2)

    4Q2025 EARNINGS PRESENTATION 34 2026 Outlook (2) + ee! wu on » Robust top-line growth is expected to be driven by key ongoing ~- Accelerate topline growth by (i) optimizing occupancy and Projects including Ocean Park 2-3, Green Paradise, Golden City, visits, expanding demand through high-growth / ne

  35. Slide 35: 2026 Outlook (3)

    4Q2025 EARNINGS PRESENTATION 2026 Outlook (3) Social Enterprises Reinforce leadership in core markets by investing in talent acquisition and development; opening 3 new facilities; upgrading modern medical infrastructure; and elevating end-to-end _ patient experience. Broaden domestic customer base t

  36. Slide 36: Company Information

    Company Information Vingroup today bases its strategy on the principles of sustainability and professional management to operate in six major business segments: + Industrials - Technology ~ VinFast, the first and largest domestic comprehensive automobile manufacturer and electric scooter producer in

Vingroup — Q4 2025 Earnings Presentation on 6ix