Consolidated Interim Financial Statement 30.06.2025

Deloitte.

HOA PHAT GROUP JOINT STOCX COMPANY

(Incorporated in the Soci0list Republic of Vietnam)

REVIEWED INTERIM CONSOLIDATED

— FINANCIAL STATEMENTS

For the 6-month period ended 30 June 2025

HOA PHAT GROUP JOINT STOCn COMPANY

Pho Noi A Industrial Zone, Nguyen Van Linh Commune,

Hung                      Yen                  Province,                        Vietnam                                                                

TABLE OF CONTENTS

CONTENTS

STATEMENT OF THE BOARD OF MANAGEMENT

REPORT ON REvlEW OF INTERIM COusoriDATEo r iNxNCIAL STATEMENTS

/NTERTM CONSO1/OATEO BALANCE SH£ET INTERIM CONSOLIDATED INCOME STATEMENT INTERIM CONSOLIDATED CASH FLOW STATEMENT

NOTES TO THE INTERIM CONSOLIOATED FINANCIAL STATEMENTS

1 - 2

3 - 4

8

9-10

11 - 50

D EL

HOA PNAT GROUPJOINT 5TOCIt COMPAMY

Pho Nd A Industrial Zone, Nguyen Van tJnh Commune, Hung Yen Province, Vietnam

STATEMENTOF THE BOARD OF MANAGEMENT

The Board of Management of Hoa Phat Group Joint Stock Company (the "Company*) presents this report together with the Interim consolidated financial statements of the Company and its subsidiaries (hereinaner referred to as the "Group") for the 6-month period ended 30 June 2025.

BDAAD Ofi• DIRECTORS, BOARD OF MANAGEMENT, SUPERVISORY BDARD AND CHIEF ACCOUNTANT

The members of the Board of Directors, Board of Management, Mpervlsory Board and Chief Accountant of the Group during the period and to the date ofthls report are as follows:

Ivor. Tran Dlnh Long Mr. Tran Tuan Duong

Mr. Nguyen Manh Tuan Mr. Doan Gia Cuong

Mr. Nguyen Ngoc Quang Mr. Hoang Quang Viet Mr. Nguyen Viet Thang

” Mr. Chu Quang Vu Mr. Dang Ngoc Khanh

Chairman Vice chairman Vice Chairman Vice chairman Member Member Member

Independent member Independent member

Board of Management

Mr. Nguyen Vtet Thang General Director

Ms. Nguyen Thl Thao Nguyen Deputy General Director Ms. Tran ThiThu Hien Oeputy General Director

Ms. Bu1 Thl Hai Van Ms. Ngo Lan Anh Ms. Thai Thi Loc

Head of Supervlsow Board Member

Member

Chfef Accountant

Ms. Pham Thi Xim Oanh Chief Accountant

THE BOARD Or MANAGEMEN7‘5 STATEMENT OF RESPONSIBILITY

The Board of Management of the Company is responsible for preparing the Interim consolidated financial

• statements, whlch give a true and fair view of the consolidated firianâal position of the Group as at 30 June 2025 and its consolidated financial performance and its consolidated cash flows for the &month period then ended in accordance wlth Vlemamese Acceunting standards, accouMing regime for enterprises and legal regulations relating to interim consolidated financial reporting. In preparing these Interim consolidated financial statement, the Board of Management is required to:

• • Select suitable accounting policies and then apply them consistently;

  • Make judgments and esdmates that are reasonable and prudent;

  • State whether applicable accounting prlndples have been followed, subject to any material departures " dlsdosed and explained in the Interim consolidated flnandal statements;

  • Prepare the interim consolidated financial statement on the going concern basb unless It Is inappropriate to presume that the Company will continue in business; and

    ” • Design and implemeM an effective internal control system for the purpose of properly prepartng and presenting the interim consolidated financial statements so as to minimize errors and frauds.

    1

    HOA PHAT GROUP JOINT STOCK COMPANY

    Pho Noi A Industrial Zone, Nguyen Van Linh Commune,

    Hung                    Yen                  Province,                          Vietnam                                                              

    STATEMENT Of• THE BOARD OF MANAGEMENT (Continued)

    THE BOARO OF MANAGEMENT'S STATEMENT OF RESPONSIBILrFY (Continued)

    The Board of Management is responsible for ensuring that proper accounting records are kept, which disclose, with reasonable accuracy at any time, the consolidated financial position of the Company and that the interim consolidated financial statements comply with Vietnamese Accounting Standards, accounting regime for

• enterprises and legal reBulations relating to interim consolidated financial reporting. The Board of Management is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of frauds and other irregularities.

  The Board of Management confirms that the Company has complied with the above re9uirements in preparing these inter1m consolidated financial statements.

  behalf of the Board of Management,

  TAP D0

  let Thang General Director

  29 August 2025

  Deloitte.

  No. SONIA-H6f-BC

  Company Umhed

  1 2“ Floor, Diamond Park Plaza Building,

  No. 16 Lang Ha, Giang Vo Ward, Ha Noi City, Vietnam

  Tal: *B4 24 710 50000

  REPORT ON BEVIEW OF INTERIM CONSOMDATED FINANCIAL STATEMENTS

  To:

  The Shareholder

  The Board of Directors, Baard of Management and Supervisory Board

  Hoa Phat Group Joint Stock Company

  We have reviewed the accompanying interim consolidated financial statemenu of Noa Phat Group Joint Stock Company (the "Company") and its subsidiaries (hereinafier referred to as the "Group"), prepared on 29 August 2025 as set out from page 05 to page 50, which Comprise the interim consolidated balance sheet as at 30 June 2025, the interim consolidated statement of Income and Interim consolidated statement of cash flow for the 6-month period then ended, and a summary of significant accounting policies and other explanatory information.

• The Board of Management is responsible for the preparation and fair presentation of these interim consolidated financial statements in accordance with Vietnamese Accounting Standards, accounting regime for enterprises and legal regulations relating to interim consolidated financial reporting, and for such internal control as the Board of

" Management determines is necessary to enable the preparation of the interim consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Ohr respon is to express a conclusion on the accompanying interim consolidated financial statements bags on our review. We conducted our review in accordance with vietnamese Standard on Review Engagements (V ) 2410 - Review of interim Financial Information Performed by the Independent Auditor of the Entity.

A review of Interim consolidated financial statements consists of making inquiries, primarily of person$ responsible for financial and accounting matters, and applyinBanalytical and other review procedures. A review is substantially less In scope than an audh conducted in accordance with vietnamese Standards on Auditing and Consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

t!

Uma commuzgcacon contalns garwral information enly, ena nona of 0TtL, ‹cr doeai n '8 •*' emba• firms or '^e'‹ '^^+ ^^!*8¥ ie. be ^8^^^ rhi^corrtmunication.' '"8

impfiea] a•- “•,.en n ‹oi' c‹ ure-— comptatan . .he ...-. rr..:+as in •1lg communIca.in. and ^ ^ or Eli u.'•• ’

Deloitte..

REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL STATEMENTS tContlnued)

Based on our review, nothinB has come to our attention that causes us to believe that the accompanying interim consolidated financial statements do not present fair)y, in all material respects, the consolidated financial position of the Group as at 30 June 2025, its consolidated financial performance and its consolidated cash flows for the 6-month period then ended, in accordance with Vietnamese Accounting Standards, accounting regime for enterprises and Ie8 I regulations relating to interim consolidated financial reporting.

The Group's financial statements for the year endi•d 31 December 2024 were audited by another independent audit firm, with the independent auditor's report signed on 24 March 2025 giving an unmodified opinion. The Group's interim consolidated financial statements I or the 6-month period ended 30 June 2024 were reviewed by another independent audit firm, with the independent auditor's report signed on 29 August 2024 giving an

• unmodified conclusion.

  Phong

• Deputy General Director

Audit Practising Registration Certificate No. 0929-2024-001-1

DELOITTE VIETNAM AUDFF COMPANY LIMITED

29 August 2D2S

" Hanoi, S.R. Vietnam

4

The accompanying notes arean Integral part of these

rim consolldatedfinartcial statements

“

HOA PHAT GROUP JOINT STOCK COMPANY

Pho Nol A Industrial Zone. Nguyen van Unh Commune,

Issued under Circular No. 202/2014/TT-BTC

Hung Yen Province, Vietnam                         dated 22 December 3014 of the Ministry of Finance

jNTfiRM CONSOMDATfiD BALANCE SHEET(Continued)

xs at3o June z0zs

Unit: VND

NON-CURRENTA5SET5

Codes Notes         Opening balance

137,815,A31,ZB0,B86

I.

1.

” z.

I).

- 1.

" III.

Long-Nrm racafvables

Long-term advances to suppllers Other long-term tecelvabtes

Tangible fixed assets

• Accumulated depreciation Intangible assets

• Cost

• Accumulated amorâsation

Investment property

210

212 7

216 8

221 11

227 12

229

232

go0,A53,913,Z11 73,4D0,097,764

827,053,815,447

65,302,976,355,571

6S,120,S21,330,076

1D9,J49,187,040,644 (44, 2B,66S,7J0,S68) 182,45S,028,49S

380,43S,44:I,707 (197,980,413,212)

9Z3,400,¥23,614

82,805,287,792

840,S94635,822

67,4Z8,36G,9S3,51J

67,244,150,975,048

(40,902,415,373,906)

184,215,978,466

367,0fi7,604,707 (183,841,636,241)

(3iXJ,950,552,532)

Long-term as¥ets In progress Long-term work In progress

z. Construction in progress

241

242 14

72,BZ1,55B,Z54,667

117,828,507,706

72,703,729,846,961

63,750,717,3Z5,406

94,859,885,024

63,655,857,440,382

1. Long-term financial flwestments 250

   1. Held-to-maturity investments 2S5 S

136,500,000,000

VI. other long-term assets

Long-term prepayment Deferred tax assets

1. Long-term reserved spare parts

2. Goodwill

260

Z6l l0

26t 1S

263

269 16

5,041,2SI,109,917

4,338,725,174,159

253,928,897,455

391,044,882,Z32

57,563,156,071

S l¥6,84d,4¥S,3S9 4,269,141,694,868

254,671,208,385

429,422,385,383

63,6z3,t26,723

TOTAL A5SETg (Z70=1IXt+ZOO)

270

The accompanying notes are an integral pan of fftese interim cozzsoJ*doted/?noncfoJ statd'rnents

HOA PHAT GROUP JOINT STOCIt COMPANY

Pho Noi A Industrial Zone, Nguyen Van Linh Commune,

w Hung Yen Province, Vietnam

FORM B 02a-DN/HN

issued under Circular No. 202/2014/TT-BTC dated 22 December 2014 of the Ministry of Finance

INTERIM CON5OMDATfiD BALAHCE $HEET(Continued)

As at3o June 202S

TrzmXumnMet Pha 3h1 Klm Oonh

                               2S August 202S                  

z accompanying notes ore an integral port oJ these interim consolidated finonciol !*<**

HOA PNAT GROUP JOINTSTDCX COMPANY

Pho Nol A Industrial Zone, Nguyen Van Linh Commune, Hung Yen Province, Vietnam

FORM e 0Za-ON/HN

Issued under Circular No. 202/2014/TT-BTC dated 22 December 2014 of the Ministry of Finance

INTERIM CONSOUDATED INCOME STATEMENT

For the 6-montA peried ended 30June 20M

unit: VND

ITEMS Codes Notes Prior period

1. Grass revenue from goods soid and 01 28

2. Deductions 02 28

3. Net revenue from geods sold and 10

74,Z36,821,34B,459

704,627,683,672

73,53Z,193,664,787

620,968,369,842

70 7,869,419,171

1. Profit after tax attributable to the 61

   Holding Company

2. Profit/(losses) after tax attributable to 62

non<>interests 1a. Bade earnings per share

7,6l377l,906,1S2

13,557,615,464

6,189851,834853

(1,094,513,B36)

776

Trnn Xugn Mat

Preparer

m Thi mhm Oanh Chief Accountant

The accompanying notes are an Integralpart of ttiese Interim consoIidatedfInanci”aIstatements

HOA PHAT GROUP JOIKT STOCK COMPANY

Pho Noi A Industrial Zone, Nguyen Van Linh Commune,

FORM B 03a-DN/HN

Issued under Circular No. 203/2014/TT-BTC

Hung Yen Province, Vietnam                            dated22 December 3014 of the Ministry of Finance

INTERIM CONSOLIDATED CASH FLOW STATEMENT

For the 6-month period ended 30 June 2o2s

Unit: VND

fTEMS

I. CASH FLOWS FROM OPERATING ACTIVITIESProfit before tax

Codes Current pertod

01

Depreciation and amortisation of fixed asseu, 02 investment properties, goodwill allocation and

land rental cosu

Provisions 03

foreign exchange losses arising from 04

translating foreign currency monetary Items

Galn from investing activities 05

Interest expense 06

Operating profit befare movements In

Changes in receivables 09

" Changes in Inventories t0 Changes in payables (excluding accrued loan 11

interest and corporate income tax payable)

3,418,850,663,978

(48,638,Z29,807) 442,53d,787,105

{SS0,S40,349,812)

1,066,136,992,112

23,J40,4S4,706,259

{5,970,400,807,965)

lz,ss2, os,iss.sssl

(590,586,775,100)

3,457,507,209,333

172,692,336,517

152,S03,S77,08S

(1,055,951,278,124) 1,1g9,753,348,133

10,9y0,946,X19,S86

(3,168,135,199,944)

(1,039,047,575,147)

(444,000,790,917)

Changes in prepaid expenses 12 (181,927,211,830)

Interest paid 14 (1,073,732,784,723)

Corporate income tax paid 15 (1,676,151,141,088)

Other cash outflows 17 (287,625,735,523)

Set cash Serrated By operot/ng activities 2'0 SO ',16Z,0B3,47’S

CASH FLOWS FROM INVESTING ACTIVITIES

1. Acquisition and construction of fixed assets and 21 (10,688,184,3Z0,479) other long-term assets

   (403,611,590,740)

   (1,235,048,376,365)

   (872710,726,033)

   (509,758,611,539)

   (18,836,38 863,300)

2. Proceeds from sale, disposal of fixed assets 22

   and other long-term assets

   35,930,784,910

   1, I42,4F S2,A23

5.

’ 6.

Cash outflow for lending, buying debt instruments of other entities

Cash recovered from lending, selling debt instruments of other entities

Cash recovered from investment in other entitles

Interest earned, dividends and profits received

Net cash used In Investing activities

23 (14,629,073,195,952)

24 16,146,662,490,424

26 241,687,184,000

27 624,506,083,401

(15,374,269 39,875)

22,103,399,793,411

846,575,562,340

The accomp0nyjng notes are an integral part of these interim consolidated financial statements

”

HOA PHAT GROUP JOINT STOCK COMPANY

Pho Noi A Industrial Zone, Nguyen Van L!nh Commune, Hung Yen Province, vietnam                           

FORM B 03a-DN/HN

Issued under Circular No. 202/2014/TT BTC dated 22 December 20 14 of the Ministry of Finance

INTERIM CONSOLIDATED CASH FLOW STATEMENT (Continued)

For the 6-r7IOUtiâ eriod ended 30 June 2025

Unit. VND

ITEMS

Codes Current period

Prior period,

Tran Xuan Mai Preparer

G 0 P H AN

29 August 2025

The accompanying notes are an integral part of these interim consolidoted finoncio/ statements

NDA PHAT GROUP JOINT 5TO€X ODMPANY FOfiM B0Ba-ON/HN

Pho Nol A Industrial Zone, Nguyen Ven Unh Commune, issued under Circular No.20Z/2D14/TT-BTC HungYen Province, Vietnam dated zz December 2014 of the Mlnkoy of Nnance NOTES 'OTHE INTERIM €DM5OMOA¥50 FtkANCIAL wATEMENTs

These no fee are an integral part of and sfiould 6e read In conjunction with the accompanying interim console:dated flnancialsfatements

Hoa Phat Group Joint Stock Company t"Company“) formerly known as Hoa Phat Steel Jofnt Stock Company was incorporated under the Law on Enterprise of Vietnam pursuant to the the Initial Business RegisUation Certificate No. 0S0300tXI08 issued by Hung Yen Department of Finance (formerly the Department of Planning and Investment of Hung Yen Province) on 26 October 2001. In accordance with Its 8th amended Business Registration Certificate dated 9 January 2007, Hoa Phat Steel Joint Stock Company was wansformed Into Hoa Phat Group Joint Stock Company.

The Company's Enterprise Registration Certificate has been amended several times, with the latest amendment No, 090018S284 dated 11 August 2025, issued by Hung Yen Department of Finance.

The Company's shares have been oRciaIIy listed and. traded on .the Ho Chl Minh City Stock Exchange (HOSE) under the ttcker symbol HPG since 15 November 2007.

The total number of employees of the Company and its subsidiary ("the Group") as at 30 June 202S is 31.926 people{as at 31 December 2034:32.780 people).

Opearting industries and pricipal activities of the Group are: Office leasing;

Financial Investments;

- Integrated investment in and construction of Infrastructures, Industrial zones and orban areas; production of tanks, reservoirs and containers of metal;

Production of structural metal products; Exploration and exploitation of mineral;

Leasing machines, equipment and motor vehictes;

Dealing In automobiles, motorcycles, equlpmeno, parts for transport and mlning sectors, transport vehldes;

Production and trading of construction machinery and mining machineries; Dealing of electrical, electronic appliances, optical and medical equipment;

Production, trading .assembly, Installation, repair and maintenance of elecUfcal, electronk,

ek« meal refrigeration and cMl electrlcal appliances and air-conditioners;

• Production and trading of raw materials and plastic products;

  cMl and Industrial construction; Exploltalon of sand, stones and gravel;

  Produccon, trading and assembly constzuctlon equipment,

• Real estate trading (excluding tandprice consuhancy);

  oomestlc and foreign investment addsory (exdudlrg law advisory):

  v

  Production and trading ofrlon-ferrous metals and non-ferrous metal scraps; Trading end exgort and Import of stsel and suppties for steel maklng and rolling; Production of rolaa sted and roofing sheets;

  Exploitation of metal ores;

  Trading mwi•, metal ores and trort and steel soaps;

  Making cast!ron and steel and casting cast iron, iron and steel; Production of plated and non-plated sleet plpes, and max pipes;

  Production and trading of galvanizedsteel sheet, cotor Coated steei shems and galyafUftl St 'BI

  sheets;

  Entrusted export Import activities;

  11

  HOA PHAT GROUP JOINT STOCX COMPANYNOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (Continued)

  FORM B 09a-DN/I•IN

  Raising pigs;

  Raising cows;

  Raising poultry;

  Raising other animals; Provision of raising services;

  Processing and preserving of meat and meat product s; Producing feeds for cattle, poultry a Id aquaculture sector, Producing fertilizer and n trogen compounds,

• Trading agricultural equipment, machineries and accessories;

  " Construction of railway works.

  Site preparation;

  General support services;

  Restaurants and mobile food service activtes;

  Provision of catering services under nan-regular contracts with customers, Beverage serving services;

  Coastal, inland waterway and ocean transportation,

  Import, export, trading and distribu on of goods not included in the list of goods prohibited from trading in accordance with Vietnam‹'se laws,

  Mechanical processing, metal treatment and coating,

  " Investing, manufacturing and tradin,{ in electrical and household app1iances;

• Manufacturing and tradinB•f refrigr ration products; and Production of freezers and refrigerators.

Normal production and business cycle

The Group's normal production and busir ess cycle is carried out for a time period of 12 months or less

HoA PtIAY 0RoUP JDtNTStDCK COMPANY

hares zozuz INTERIM CONSOMa Co TRIALSTAYEMIMTg(Continued)

As at 304une 2025, detaifs of the Group's subsidiartes are as follows:

Incarporationof ownership af votlng

FOBM B 0Ba-DN/NN

Main hudnezs

Ho8 phat Iro• and steat Joint Stock Company(I) Hoa Phat Steel Products Joint Stock Company (ti)

3 Hoa Phat Agricultural Development Joint Stock Company(lil)

Hoa Phat Real Estate Development Jolnt stock Company(lv)

5 Hoa Phat Home AppliancesJolM Stock Company (v)

6 HOB Phat Hung Yen Steel Company Mmlted

7 Hoa Phat nal Duong Steel Joint Stock Company

g Hoa Phat Dung Quat Steet J0int Stock Company

g An thong Mineral InvestmentJoint Stock Company

10 Hoa Phat Shipping joint Stock Company

11 Hoa PhHPhu Yen Steel Joint Stock Company

Bci Goc Phu Yen Port Joint stock Company Hoa Phat Steel Pipe Comp2rtV MiYihed Hoa Phat Steel Sheet Company MmltedIJoa Pkat Metal Producing Company Umlted

Hanoi 99.9988% 99.9s8s% Investment, production and trading of construction steel and auxtllary

activities Hanoi 99,9360% 99.9960% lrrzastment, production and trading of steel pipes, color-coated steel

sheets and auxiliary actMtles Hung Yen 99.9992x 99.9992% Raising livestock and pouhry; farming; providing plantation, raising,

post-harvest senzices; produdng feeds for cattle, poultry and

aquacuhure feed Hanoi 99.9811% 99.9811st Investment, construction and trading of real estate and auxiliary

Hanol 99.9091% 99.9091% investment, production and trading of electrtcal home appliances HungYen 99.998B% 100% Producingsteel,fron; wholesallng metals and metalores. Hal Phong 99W71% 99.9983K Producing steel, Iron, exploding Iron ores, exploiting and collecting

llgnlte; wholesaling metals and metal ores; produdng and trading of

Quang Ngal 99.9988% tg0gg produclngsteel, Iron, exploiting Iron ores; wkolesatlng metals and

metal ores; producing and whotaallng coke coal and other related

business activities. Tuyen Qucng 99.9588% 99.9600% Exploring, exploiting, processing, Importing and exporting minerals

(ma1nIy Iron ores) Hai Phong 99.6296% 99.63081 Coastal, inlandwaterwayandoceanfrelghttransport

Lam0ong 99,9988% 100% Pr<›rlucingandtradlngsteel Lam Dong 99.9988K 100B Coastal, inlandwaterwayandoceanfreight transport Hanol 99.97604a 9S.9B00% Production and tradingvarlousklndsofsteelpipes HunB•en 99.9960% 100% Production and trading of galvanized steel sheets, color-coated steel

sheets, and galvanlum steel sheets Hanoi 99.9294% 99.9333% Producing construction equipment; tradlngconstructlonmachlnery

and equipment; exploiting small and mediumelzed minerals

16 H Phat Contalner producttonJoint Stock Company Ha Chi Minh Oty 99.8246% 99.8286%

17 Hoa Phat $j grgjqint Stock Company(formerly known as Ha Chl Minh City 99.896096 99a Chau Duc Trading and Production Joint Stock Company)

Producing and trading containers Production of plywood, veneer and other thin boards

IIDA PNAT OROUP'JOIMY StDCX COMPANY

MOTHS TO TNE INTERIM QMSDMOATED FINANCIAL STATEMENTS (Contloued)

•OR d B090-DH/Hf4

No.

Pleca of Proportion P'roporoon

Maln bush

Hoa Phat Trading company Mmlted

19 Hoa Phat DeVetopment of Livestock Joint Stock Company

Hoa Phat Hung Yert needs Company umlted

Hanol 99.9367K 99.937SK Raslng buffalos, caws; providing plantadon, rablng, past-harvest

services

Hung Yen 99,9742% 09.9750% Raising and provIsng braedTng and market pigs Hung Yen 99.99929t 100% Producing and trading feeds and materials for producing feeds for

casttle, poultry and aquaculture sector

21 Hoa Phat Phu Tho Poultry Company Umited One Member

UmKed Uabi1Ity Company

Phu Tho 99.9992K 100%

Raising poultry

22 Haa Phat Urban Oevetoprnent and Construction Joint Stock

Hanoi 99.9s04% 99.s692% Civil and industrial corutruction; developmentof real estate for saies

and leasa, leasing houses and officas, Investing in and building

technical inkastructure

Hoa Phat saigon Real Estate Oevelopment Joint Stock Ho Chi Minh Oty 99.881296 99.9000fi Trading of real estate, land use rtghts of fand owners, land users or

Company land lessees

24 Hoa Phat HanolReal Estate Development Joint Stock Hanoi 99.9448% 99.9636% Tradlng of real estate, land use rights of land owners, landusers or company land lessees

New City Development Investment company Umlted No Chi Minh Oty 99.9811% 100% Yradlngofreal estate, land use rtghts of land owners, land users or

land lessees

26 Hoa Tann Industrial Park InfrasUucture Development Jelnt

stock Company

27 Grsen Urban Area Development Joint Stock Company(vi)

28 Hoa Phat Ha Nam Home Appliances Joint Stock Company

Hoa Phat Refñgeration Engineering company Mmhed

30 Hoa Phat Binh Dinh One Member Umhed Uablllty Company

31 Nhon Trach Service Trading Company Umlted

Dak Lak 99.961156 99.9800B Trading of real estate, land use rights of land owners, fand users or

land lessees Hung Yen 89.9830% BO.0000% Trading of real estate, land use rights of land ownen, landusers or

land lessees Nlnh Blnh 99.64Z5% 996333% Investment, production, and trading of electrical home appliances HungYen 99.B0929t 99.90tXl% Producing and tradingvarious kind of refrigerant equipment Gla Lal 99.9988% 100% Produdngsteel,lron;wholesallnBmetalsand metal ores Dong Nal 99.9868fi 99.9880% Provision of warehouses, storageyards for rent; and starlr ,

loading/unloading of goods

32 Hoa Phat Long An Steel Trading and s•r Ice Jotm Stock

TayNtnh 99.9788% S9.98O0X

Producing steet, Iron; whoIesa|lng metals and metal ores

33 Hoa Phat Energy Joint Stock Company

Hal Phong 99.9238% 9S.9267B Producing and wholesallng coke coal, exploiting and collectlng coal;

producing other related products

34 Hoa Phat Dung Quat Steel Sheet Joint stock Company

Hoa Phat Dung Quat steel Pipe Joint Stock CompanyHoa Phat Dung Quat Ferro Alfoy Jolnt stock Company

&7 IJoa Phat Multi-purpose Port Jolnt stock Company

Quang Ngal 99.9886% 99.99of›ss

Quang Ngal 99.988Yss ss.ssans Quang Ngal 99.9988K 100x

Production of Iron, stee|, and cast iron products

Productton of iron, steel, and cast Iron products Production of Iron, steel, and cast Iron products Direct support servtces for waterway transportatton

HOA PNAT 59OUPJOIN¥ SYOCk COMPANY

p€jyySy j THE IMTENM COMflDMDATED F•INANCIAL STATEMENTS(Continued)

FORM B 09a-DN/HN

$8 Harmonic Company Mmlted

Hoa Phat Dung Quat Rail and Spectat StegT JOint Stock Hoa Phat Dung Quat Equipment Manufactudng Company

Ptaoe of Proportion Proportlon lncorporatlonaf ownership of voting and operation (K)(”) rI$ht(%)(”) QuangNgai 99.g988f6 100B. QuangNgai B9.B988% 99.9Q309â

Ma)n business

Hospltality services Production of Iron, steet, and cast iron products

Mechanical processing, mecal treatment and coating

41 Hoa Phat Mitraco Mining Jolnt Steck CornpanY

Ha Tlnh BB.3795% 9&4200% Exploring and production of Iron, bauxite and other rare ores; trading

metal and metal ores

43 Hoa Phat CoidRoltedSteelCompanyUmked Hung Yen R9.g760% 1009$

HocPhat DaNangSteelNpeCompany Umlted Da Nan8 •> ** &<>How Phat Blnh buong5teel Pipe One Member Company Ha Ch1 Minh Oty 99.9760st 100%

#S Haa Phat LongAn Steel Pipe One Member Company Umlted Tay Ninh 09.9760B 1009t

H0a Phat LongAn Steel Prod•ctsJoi•t Stock Company Tay Nlnh 99.9660% 09.9900%Hoa Phat Mechanical ManufacturlngCgmpany Umlted Ha Chl Minh City 99.8927% 99.916736 Hoa Phat Steel Mre Company Umlted Hung Yen 99.929496 100aHoa Phat Prestressed SteelOne Member Company Mmited Quang Ngal 99.9294% 100ftHoa Phat Mechankat FlttlngCornpany Umked Ha Chl Minh City 99.8246% 1009t 51 Hoa PhatQuang Bnh BreedingCompanYUmlted Quang Tri 72.6740B 72.7200% 53 vletHungLtvestockcompanyumxed HungYen 99.9367% 100%

53 DongPhat LlvestockCompariyUmked OoneNai •<**7 *ODB

Hoa Phat Dong Nat Poultry One Member Company Umlted DongNai 99.936796 1009â

55 Son DongUvestockCompany Umlt•a BacNinh 99.9742% 100B

LacThuy Llvestack Company Umlted Phu Tho 99.9742% 100st S7 HoaYen LlvestockOne MemberCompanyUmited LaoCai 99.99923t 10OBHoa PhuocLlyestockcompany umited DongNal 99.9722% 99.9980B

59 Thai ThuyLlvestockCompanyUmlted HungYen 99.9742% 1009t

Hoa Phat0ong NaiFeedsCompanyumlted DongNai 9S.90929a 10096

Produdng cold rolled steal products Production and trading various kinds of steel pipes Production and trading various Mnds of steel plpas

Production and trading various kinds of steel pipes Production and tradInB various kinds of steel pipes

Repairing and producing mechanical products; leasing machines,

equipments and vehkles Producing and tradln8 consUuctlon and mining machines; produdng

engines andNrblnes Production of Iron, steel, and cast Iron products Produmon of mechanical spare parts

Raising livestock and poultry; providing plantadon seMces Raising livestock and poultry; providing plantation services Ralslng livestock and pouhry; providing plantation services

Rabing poultry and other animals Raising pigs, rahlng poultry and other animals Raising poultry acd other animals

Raising pig and other animals Raising breeding and market pigs

Raising pfgs, raising poultry and other animals Produdng and processing feeds for cattle, poultry, and aquaculture

Haa Phat Phu Tho Animal Feed Come• v umnaa Hoa Phat Hung Yen Industrial Parks Infrastructure oevelopment Company Umlted

Phu Tho 99.9902% 100%

Hung Yen 99.9504% 100B

Producing animal feed Civil and industrla! construction, freehold or leasehold real estate trading, workshop and office leasing, Integrated InveStment and

construction of infrastructure

NOA PNAT GBDUPJOINT STDCK COMPAN'Y'

NOTrSTO TttE INTERIM CoNSDMOATED FINANCIAL. sTATEM£MYS(Contlnuad)

Place of Proportion tncorporationof ownershp

Hoa Mcc Industrial Park oevetopment Management

Nlnh Binh s9.9s04%

100%

Gvil and industrial construcUon, freehold or leasehold real estate

and operation (%)(”) ‹w›tfxi i”i

FORM B SDN/IN

Main buslness

Company Mmlted

Golden Gain Vietnam Joint stock Company Long vlet concructlon 4oIM stock company

My Hao Urban 0evelopmeM Joint Stock Company

67 Hoa j•hat yen key Urbap Dewloprnent.lolnt stock Company

Dong Phuc Industrial P•rk Infrastructure Development Jolnt Stock Company

69 Phu Tho Hew Urban Dewlapment Joint Stock Company

70 Hoa Phat Phu My Refrigeration Joint Stoch Company

71 Ly Thuong Klet Industrtal Park Infrastructure Development

Hanoi 99.0404% Hanoi 99.7S05st HungYen 99.g50496

Hung Yen 99.85049t Bac Ninh 93.o809ss Phu Tho 64.9555%

Ho Chl Minh Oty 99.7094K Hung Yen 79.9603%

trading, worlcshop and office leasing, Integrated investment and

construction of Infrastructure

99.99tXt9t Real estate trading

9S.800UB Ovll engineering, lndustrlal construction 99.9000% Trading of real estate, land use rlghts of land owiers, land users or

hand lessees 99.9000B Trading of real estate, land use rights of lend owners, fand users or

land lessees 93.127136 Trading of real estate, land use rights of land owners, land users or

land lessees 65.0000% Trading of reel estate, land use righo of land owners, land users or

land lessees

99.9000% Producing freezers and frtdges 80.000oB Gvtl and tndusmal construmion, freehold or leasehold real estate trading, workshop and office leasing, integrated investment and

construction of infrasoucture

Hoang Dleu Industrial Park lnfrastructuraDevelopment Joint Hai Phong 79.960336 Stock Company

80.6000B Civil and industrial construction, freehold or leasehold real estate trading, workshop and ofRce leasing, Integrated Investment and

construction of infrastrumire

Y3 Hanoi Investment and Senzlces Joint Stoch Company

1. Hanoi Transportation and Trading Services Joint Stock Company

2. Hanoi Business Trading and Service Jotnt Stock Company

3. Hanoi Securtty Servtces Company Limited

Hanoi 95.Z104%

Hanol 99.84043t

Hanol 99.8404%

Hanoi 95.2104%

16

95.2672% Sports and entertainment acthittes Including tennis, badminton, billiards, swlmmtng, body bulldifg, games and real estate trading

99.9QXlst Goods transport by automobiles, inter-provindal passenger transport by automobiles, machinery and equipment repair, domestic travel, petrol and oil trading agency, bansport agency services and automoblles keeping services, office, warehouse and storage yard

services and real estate trading

99.g000% Goods transport by automobiles, inter-provincial passenger transport by automobiles, machinery and equipment repair, domestic traval, petrol and oil trading agency, transport agency services and automobiles keeping services, office, warehouse and storage yard

services and real estate trading

Security services

HOA PHAT GROUP JOINT STDCK COMPANY

NDrESTO THE INTERIM CDNsOLloATED FINANCIAL STATEMENTS(CONTINUED)

(i) on 28 February 202S, the Corripeny's Board of Directors approved Resolution No. 03/NQHP-2O2S regarding an additional capital contribution of vND i2,2o0,0tXi, ,0IXl to Hoa Phat Iron and Steel JoIM Stock Company, with the contribution schedule nat later than 31 December 2025. As at 30 June z02s, the Company had contributed VND S,110,QXI,0IXi,000 vta bank transfer. Accordingly, the Company's percentage of ownership and votingri@Is in Hoa Phat Iron and 5teelJoint Stock Company increased from 99 i9873t to 99.99889k

(1i) On 28 February 2025, the Company's Board of Directors approved Resolution No. 04/NQHP-2025 regarding an additional capital contributlan of VND 42D,000,0tXI,QXt to Hoa Phat Steel Products Joint Stock Company. As at 30 June 2025, the Company had fully contdbuted this amount via bank transfer. Accordingly, the Company‘s ownership and voting rf@s in Hoa Phat Steel Products Joint Stock Company Increased from 99.S9S89£ to 99.

(lil)

- (iv)

(vj)

On S May 30Z5, the Company's Board of Directors approved Resoluflon No.08/NQHP-2025 regarding the withdrawal of a capKal contribution of VND 249,997,980,0tXt from Hoa Phat Agricultural Development Joint Sto‹:k Company. As at 30 June 2025, the Company had fully received thls amount via bank transfer. Accordingly, the Company's ownership and votlngrlghu in I-toaPhat Agricultural Development Joint Stock Company is 99.9992%.

On 12 March 202S, the Company's Board of Directors approved Resolution No. OS/NQHP-2o2S regarding an addldonal caplal contrtbutlon of VND 3,800,QXt,000,000toHoa Phat Real Estate Development Joint stock Company. As at 30 June 2025, the Company had fully contributed this amount vla bank transfer. Accordingly, the Company's ownership and voting rights inHoa Phat Real Estate Development Joint Stock Company Increased from 99.9706% to 99.9811%.

On 05 May 202s, the Company's Board of Directors approved Resolution No. 09/NQHP-2025 regarding an additional capital contribution of VND 200,GXI,QXI,000 to Noa Phat Home Appliances Joint Stock Company, with the contribution schedule not later than 30 September 2025. As at 30 June 2025, the Company had contributed VND 10O,ooo,ooo,ooo vla bank transfer. Accordingly, the Company's ownership and voting rlghts in Hoa Phat Home Appliances Joint Stock company increased from 99.g090B

The companies established during the period through capital contribution under the ResoluUons of the Boards of Directors of the subsidiaries.

Proportion of ownership and proportion of votlng rights are dlrect and indirect at the Croup.

Comparatlve fl$ures In the 1MerIm consolidated balance sheet and corresponding notes are the figures of the Company's audlted Consolidated financial statements for the year end 31 December 2024.

Comparative figures In the Interim consolidated Income statement, intartm consolidated cash flow stateizjgnt and corfespondtng notes are the figures of the reviewed Intertm consolldatsd flnandal statements for the &znonth period ended 30 June 2024.

.1

HDA PHAT 6ROUP JOINT wOCK CoMP'ANY

NDTZSTO THE INTERIM coNSOtJDATZo FINANCIAL SYATEMENTS(CONTINUED)

FORM B 09a•DN/HN

Certain reclassiflcations have been made to the prfor period's figures to enhance their comparabllity wtth the current period's presentation. 0euTls ara as follows:

VND VND VND Long-term accrued 333 1.143.691.237.207 (S4.fXI .IXXI.000) 1.089.693.237.207

expenses

Long term provision 342 67.495.546.940

ACCOUMTIRG CoNVENTlON AND A€€QUNTING PERIOD

121.495.546.940

The accompanytng Interim consolidated flnandal statements, expressed In Vietnam Dong (VND), are prepared under thehistorical cost convention and in accordance with vietnamese Accounting Standards, accounting regime for enterprises and legal regulations relating to Interim consolidated financial

The Intertm consolidated financial statements are prepared based on consolidation of Interim separate flnancial statements of the Company and its subsidiaries' Interim financial statements.

Idle accompanyinB Interim consolidated flnancial statements are not intended to present the consolidated flnandal pasldon, consolidated raults of operations and consolidated cash flows in accordance whh accounting principles and practices generally accepted In countries and jurisdictions other than Vietnam.

The Company's ftnandal year begins on 01 January and ends on 31 Decamber.

These interim consolidated tnancial statements have been prepared for the 6-month period ended 30 June 20z5.

3. SUMMARY 06 stGNIrICANTAC€DuNYlNG POLICIES

The significant accounting policies, which have been adopted by theCompany in the preparation of these Intertm consolldatad financial statements, are as fdlows:

The preparation of the lntertm consolidated finandsl statements In conformity with Vietnamese AccountlnB ec»rds, accounting regime for enterprbes and I«gaI regulations relating to Interim consolidated flnandal feportlns requires the Board of Management to make estimates and assumptions that affect the reported amounI:g of asses, IlabllMes and dkdasures of contingent assets and tlab1IIttes at tha date of the intnrfm consotidat• i flnandal statement and the reported amounts of revenues and expenses during the reporting period. Although these accoundng estimates are based ^!

Management‘s best kriou/ledge,actual f9SUltS may dtffer hottt t}¥0Se egttmates.

I4OA PHATGROUPJOIMTSTDCX COMPANY

MDTZS TD THE iMTERlM CONSDMDATED NftANOAL STATEMENTS (CONTINUED)

The interim consolidated flnandal statements incorporate the interim separate financial statements of the Company and the imerim flnandal statement of enterprises controlled by the Company (Its subsidiary) for Me 6-month period ended 30 June 2O2S. Control is achieved where the Group has the power to govern tf›e financial and operating policies of an lnvestee enterpdse so as to obtain benefits fiom Its actlvhles.

The results of subsidiaries acquired or disposed of dudng the period are Induded in the interim consolidated Income statement from the effective date of acqulsltlon or up to the effective date of disposal, as appropriate.

Where necessary, adjusUnents are made to the flnandal statements of subsidiaries te bring the accounting polides used In line with those used by the Company.

Intragroup Wansactlons and balances are etimlnated In full on consolldatlon.

Non-controlling interests consbt of the amount of those non-controlling Interests at the date of the original business combination and the non-Interests' share of changes in equhy since the date of the combination. Losses In subsldlartes are respectively attrtbuted to the norrInterests eyen Ifthk results in the non-conWoIling Interests havlnB a deficit balance.

T ,

Goodwill represems tha excess of the cost of acquisition over the Company's Interest In the net fair value of the Identifiable assets, liabihtles and contingent liabilities ofa subsidtary, associate or jointly controlled entity at the date of acqutshlon. Goodwill Is amortised on the straight-line basis oyer iu estimated period of benefit of 10 years.

goodwill arbing on the acquisition of subsidiaries 1s presented separately as an asset In the Interim

tq

consolidated balance sheeL

On disposal of a subsidiary, the attrlbutabte amount of unamortbed goodwill Is included in the determination of the profit or loss on disposal.

cesh and cash equivalent

Cash and cash equivalents comprtse cash on hand, bank demand deposlts, cash In transit and short term, hlghty Ilquld Investments (not exceeding 3 months) that are readily convertible to known amounts of cash and which are subject to an insignificant rbk of cham in value.

gyg.t t y tm p lrrzestments that the oroup has the poshlve Intent or ability to hold to maturity, in4udlng tarm deposits, loans held to maturity to eem pertodlC interest.

jjgltt-tzj-maturity ioygggnents are recognised on a trade date bask and are Inhially measured at acqubltlon price plus directly attributable transaction costs. Post ubltion krterest Income from held-to-maturity Investments Is recognised in the Interim consolidated Income statement on accrual besb. Pre-acquMdon Interest is deducted horn the cost of such Investments •tme ecquisMon !^-

FIDA PHAT GROUP JOINT STOCK COMPANY

NOTES TO THE IMYERIM CDNSOUDATED FINANCIAL STATEMENTS (CONTINUED)

FORhg B 09a-DN/HN

Held-to-maturity investments are measured at cost tess provision for impairment of held-to-maturity

invesments.

Provision for Impairment of held-to-maturity investments Is made In accordance with prevailing accounting regulations.

Loan receivables are measured at cost less provision for doubtful debts. Provision for doubtful debs relating to loan receNables is made in accordance with prevailing accounting regulations.

Receivables represent the amounu recoverable from customers or other debtors and are stated at beak value less provision for doubtful debts.

Provision for doubtful debts is made for receivables that are overdue for six months or more, or when the debtor is in dissolution, In bankruptcy, or Is experiencing slmilgr difficulties and so may be unable to repay the debt.

Inventories

inventoAes are stated at the lower of cost and net reaIIS8bIE VgIUe. COst cDmprlses direct materials and where applicable, dlrect labor costs and those overheads that have been incurred In brlnglng the inventories to their praent location and condition. Cost Is calculated using the weighted average method. Net realisable value represents the estimated selling price less all estimated costs to completion and costs to be Incurred in marketing, selling and di5trlbutlon. The Company applies perpetual method to account for Inventories.

The evaluation of necessary provlsion for inventory obsolescence follows current prevailing accounting regulations whkh allow provisions to be made for obsolete, damaged, or sub-standard inventories and for those which have costs higher than net realisable values as at the balance sheet date.

Tangible fixed assets end depreciation

Tangible fixed assets are stated at cost less accumulated depreciation.

” The costs of purchased tangible fixed assets comprise their purchase prices and any directly attributable costs of brtnging the assets to their working condltlon and location for their intended use.

Tangibie fixed assets are depredated using the straight-line method over their estimated useful lives, as follows:

Buildings and structures Machinery and equipment

Motor vehicles and transmission equipment Office equipment

tjypt

Others

05 - SO

01—30

02 - 12

03. -05

02 - 12

HOA PHAT GROUP JOINT STOCK COMPANY

NOTES TO THE INTERIM CONSOMOATED FINANCIAL STATEMENTS (CONTINUED)

FORM B 0Sa-DN/HN

Loss or gain resulting from sales and disposals of tangible fixed assets is the difference between the net proceeds from sales or disposals of assets and their carrying amount and is recognized in the interim consolidated income statement.

Intangible assets and amortization

Intangible assets represent land use rights and computer software which are stated at cost less accumulated amortisation.

The costs of land use rights is amortized using the straight-line method over their lease term.

" Intangible assets are amortised using the straight-line method over their estimated useful lives as follows:

Land use rights Computer software

Investment properties

10-50

03 —08

Investment properties are composed of land use rights and buildings held by the Group to earn rentals. Investment properties held to earn rentals are stated at cost less accumulated depreciation. The costs of purchased investment properties comnrise their purchase prices and any directly attributable

- expenditures, such as professional fees far legal services, property transfer taxes and other related transaction costs. The cosu of self-constructed investment properties are the fina)Iy accounted construction or directly attributable costs of the properties.

Indefinite land use rights are not depreciated. Building held to earn rentals are depreciated using the straight-line method over their estimated useful lives from 3 - 49 years.

Leasing

The Companv as lessor

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are charged to the income statement using straight-line method over the lease term.

" The Company as lessee

Leases where substantially all the rewards and risks of ownership of assets remain with the leasing " company are atcounted for as operating leases. Rentals payable under operating leases are charged to the income statement on a straight-line basis over the term of the relevant lease. Benefits received and

receivable as an incentive to enter Into an operating iease are also spread on a straight-line basis over

the lease term.

NDTESTOTHE INTERIM CONsoLIOATED FINANCIAL STATEMENTS(€DNTINUED)

Properties in the course of construction for production, rental or administrative purposes, or for other purposes, are carried at cost Indudlng costs that are necessary to form the assets in accordance with the Group's accounting policy. Deprsdsdon ofthese assets, on the same basis as other assets, commences when the assets are ready for their intended use.

Prepayment are expenses which have already been paid but relate to results of operations of muMple accounting pertods. Prepaid expenses Include costs of tools and supplies issued for consumption, Fixed assets repair and maintenance costs, overhaul and major maintenance expenses, prepaid land rental cost, ske dearance cost and other prepaid expenses.

Toob and supplies Icsued for consumption Indude assets held by the Group In the normal course of business, which are labour matertals that do not satisfy requlremerns pertaining to value and use dme prescribed In regulations fixed assets. The cost of tools and supplies are charged to the Interim consolidated Income statement on a straight-llne basts over a perlod of maximum 3 years.

Overhaul and major maintenance costs of asseB comprise major expenses incurred on a periodical basis durlng the use of acsets. These expenses are initially stated at cost and are charged in the Inteirm comoltdated income statement on a strai@t-line basks Ovec a period of two to three years.

Prepaid land rental costs represent rentals that have been paid In advance, Induding those for which the Group has obtained land use right certltates but are not qualified as intangible assezs under prevailing accounting regulations, and other costs Incurred In cortjunctlon wnh securing the use of lecsed land. These costs are recognized in theInterim consolidated Income statement on asDai@t-line basis over the Iease term.

e,

me clearance expenses represent compensation and dearance fee paid by the Group. These expenses are initially stated at cost and charged in the interim consolidated income statement on a straight-line basts over the land tease term.

Other prepaid expemes which are expected to provide future economic benefits to the Company. These expenditures have been apltalised es long-term prepayments, and are allocated to the income statement using the stralght4ine method in .accordance with the current prevailing accountin8

Payable prodslons are recognised when the Group has a present obligation as a resuk of a pac event. and it b probable that the Group will be required to settte that obligation. Provisions ale measured at the Board of Management's best estimate of the expendhure required to settle the obtigatlon as at the balance sheet date.

HOA PHAT GROUP JOINT STDCfi COMPANY

NOTES TO THE INTERIM CONSDUDATED FINANCIAL STATEMENTS(CONTINUED)

unearned Revenue

•• Unearned revenue is the amounu received in advance relating to resulu of operations of for multiple accounting perlods for services or products that have been yet provided or delivered. The Group recognizes unearned revenue in proportion to its obligations that the Group will have to perform In the

" future. When the revenue recognition conditions are satisfied, unearned revenue w1II be recognized In the Interim consolidated Income statement for the perlod corresponding to the portion that meets the revenue recognition conditions.

Profit dlstrlbudon

Net profit after corporate Income tax may be distributed to shareholders upon approval by the General ri

Meeting of Shareholders and after appropriations to reserves in accordance with the Company's Charter and the regulatlons of Vletnamae law.

The Company distributes its net proflt afier corporate Income tax based on the proposal of the Board of Directors and the approval of the shareholders at the Annual General Meeting of Shareholders.

Bonus end wefore(uod

This fund Is appropriated to reward and provide material Incentives, to bring common benefits and to improve employees' welfare, and is presented as a payable In the interim consolidated balance sheet.

• Foreign cunenclM

  Transactions arising In foreign currencies are translated at exchange rates ruling at the transaction date.

  • The balances of monetary items denominated in foreign currencies as at the interim consolidated balance sheet date are retranslated at the exchange rates of commercial bank where the Group usually transacts on the same date. Exchange differences arising from the translation of these account are recognized In

” the Interim consolidated Income statement.

Revenue recognition

Revenue from the sale of goods is recognized when all Urve (5) following conditions are satisfied:

1. the Group has transferred to the buyer the significant risks and rewards of ownership of the goods;

2. the Group retains neither continuing managerial Involvement to the degree usually associated with ownership nor effective control over the goods sold;

" (c) the amount of revenue can be measured reliably;

1. it is probable that the economic benefits associated with the transaction will ftow to the Group; and

2. the costs Incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue of a transaction Involving tha rendering of services is recognized when the outcome of such transactions can be measured reliably, Where a transaction invoMng the rendering of services is amlbutable to several periods, revenue is recognized in each period by reference to the percentage of completion of the transaction at the consolidated balance sheet date of that period. The outcome of a oansactlon can be measured reliably when all four (4) following conditions are satisfied:

1. the amouM of revenue can be measured reliably;

2. It 1s probable that the economic benefits assodated with the transaction will flow to the Group;

3. the percentage of completion of the transacUon at the consolidated balance sheet date czn be measured reliably; and

   noir n‹c caour ‹oiwszocscounxw

   NDT¥s TO THE INTERIM €OM5DUDATco FINANCIAL STATEMENTS (CONTINUED)

4. the cocts incurred fer the Dansaction end the costs to complete the transaction can be measured

If the lease-term Is peater than 909a of the asset's useful life, the Company will recognize the revenue for the entire prepaid Ieas6 payment in accordance with the following conditions:

1. Lessee is not allowed to cancel the Iease contract durtng the Iease term, and the Company b not › responsible for reimbursing the prepaid Iease payments under any circumstances;

2. The prepaid Iease payment isrtot less than 90B of the total estimated Iease payment collected under contras over the lease period and lessee must pay all rental within 12 months from the commencemem of the Iease;

3. Rlsks and rewards associated with the ownership of leased asseu are transferred to the lessee; and

4. The cocts of leasing actMty have been reliably estimated.

Interest Income isaccrued on a time basis, by reference to the prlndpal outstanding and at the applicable merest rate.

Sales deductions Include trade dlscouna, sales allowances end sales returns,

sales deductions incurred In the same period of the related revenue from sales of products, goods and rendertng of services are recorded as a deduction from the revenue of that period. In case that sales deductions for sales of products, goods or rendering of services sold In the period lncurrad aRer the balance sheet date but before the Issuance of the Interim consolidated financial statements, the Group recorded as revenue deductions for the period.

Borrowing casa are recognized in the interim consolidated income statement in the period when Incurred unless they are capitalized in accordance wtth vletnamese Accounting Standard No. 16 "Borrowtng costs*. Accordingly, borrowing costs dlrectly atUibutable to the acqubltlon, construction or production of qualifying assets, which are assets that necessarily tkke a substantial period of time to get ready for their iMended use ot saie, are added to the cost of thase asseB, untll such time as the ascets are substantially ready for their Intended use or sale. Investment Income earned on the temporary investment of spedflc borrowings pending thelr expenditure on qualifying assets is deducted from the

$t @ t $$$ets. Fof $p fgg borrowingg for the purp0Se of Construction Of fixed ass4tS ifd

Investment propcnies. borrowingcola are capitalized eVen when be construction period 1s under 12

Tzmettm

lncome tax expense represents the sum of the tax currently pavoble and deferred tax.

The tax currently payable is based on taxable proñt for the period. Taxable profI differs Fom profit bdbre tax as reportedIn theinterfmcortsolidatedIncome statement because Ite'xdudes Items ally ^ or expense that are taxable or dedumble In other periods and It further excludes ItemS that are never

taxable or deductible.

oefierreâ tax Is reoognled an stgnlflcBnt differences between ctrrylng amounts af assets and tlabIItles In the Intertm consolidated Rnandal statements and the corresponding tax bases used In the computadon

HOA PNAT GROUP 1OINT STDCX COMPANY

norrsm wE iuzzaiui co«souaxzzD runner wxzzMzuzsjcofzzi uco)

of taxable profit and is accounted for using balance sheet liability method. Deferred tax liabilities are generaRy recognized fior all I+mporary' dillerences ams deferred tax assets are recognized to the extent that it is probable that taxable profit wlll be available against which deductible tertiporary differences can be utilized.

" Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability Is settled or the asset realized. Deferred tax Is charged or credited to profit or loss, except when It relates to items charged or credited directly to equity, in whlch case the deferred tax is also deak with In equity.

" Deferred tax assets and liabilities are offset when there is a legally enforceable right tn set off current tax assets against current tax liabilities and when they relate to income taxes levled by the same tax authority and the Group Intends to settle its Current tax assets and liabilities on a net bask.

The determination of the tax currently payable is based on the current interpretation of tax regulations. However, these regulations are subject to periodic variation and their ultimate determination depends on the results of the tax authorities’ examinations.

Other taxes are paid Tn accordance with the prevailing tax laws In Vietnam.

C. CASH AND CASH EQUIVAMNTS

Cash on hand

Bank demand deposit Cash in transit

Cash equivalents (I)

       Closing balance,

VND

18,663,020,974

3,294,365,200,076

811,890.224

     7,374.184,165,9t4

   Opening balance

VND

13,803,222,637

2,905,697,500,571

31,222,700

   3,968,114,193,944

                 ¥0,6BB,024,277,256

{I) Represent tetm deposits )n VNO at commercial bank with original maturities not exceeding 3 months and Interest rates fF0ffl 1.89a per annum to 5.5% per annum (31 December 2024: 1.6% per annum to 5.59a per annum).

As at 3oJune 2025, a part of cash equivalents wlth carrying amount of VND 105 billion are pledged to secure banking facilkies granted to the Group (as at 31 December 2024: VNO 88,7 billion).

1. Ooslngbalancc Openlngbalanca

   VNO VND

   Cost carrylngamount Cost Carrying amount

   d.t gtjjrlty 17,sa4,027,436,4Zg17,5B4,02y,436,4Z3 19,111,216,M0,BOS 19,111,216,730,905

   1. Short-term

      - Term depostffi(I) 1 'fi84,0Z7,436,423 17,fi84,037 436,423 18,974,7Jb 730,905 18,974,716#73o#90S

   2. Long-term

      - rerm deposits 136,500,000,000 z36,500,000,000

      1. Represent term deposits In VND at commerdal bank with original maturities of more than three months and remaining maturity of less than 12 months from the interim balance sheet date with Interest rates from 2.9% to 6.4% per year (as at 31 December 3024: from 1.9% to 6.7% per year).

   - 2S

   HOA PHAT GROUPJOINT STOCX COMPANY

   NOTES TO THE INTERIM CONSOUDATED FINANCIAL STATEMENTS(CONTINUED)

   As at 30 June 2025, a part of term deposits with carrying amount of VND 4,822 billion is pledged to secure banking facTlitles granted to the Group (as at 31 December 2024: VND 5,568 billion).

2. SHDRT-YERMTRADE RECENABMS

Marcegaglla Carbon Steel

Minh Phu Steel Joint Stock Company - Hai Duong Noa Sen Group Joint Stock Company

Hoa Phat Trading Internattonal Pte. Ltd

” Others

clodng balance Opening balance

VIID VND

995,787,219,838 482,424,BO4,232

932,0S2,439,825

63t,73S,292,606 218,586,863,055

47,300,861,605 558,734,592,040

   5,S88,1S1,692,398 3,092,389,16o,545

   B,19$,017,g9G,272 4,352,z35,419472

As at 30 June 2025, a part of receivables with carrying amount of VND 1,730 billion is pledged to secure banking facilities granted to the Group (as at 31 December 2024: VND 1,161 bllllon),

Long-term deposits

-• 26

     827,053,815,447 840,594,83S,B22

     8z7Js5343SM7       840494,055AZZ

HOA PNAT GROUP JOINT STOCk COMPAIIY

NOTZSTO THE INTERIM CONSDUDATED FINANCIAL STATEMENTS (CONTINUED)

FORM B 09a-DN/HM

(i) This amount represents compensation support paid to focal residents in connection witft fand acquisition for the Implementation of Urban Area and Industrial Park projects. In accordance with the compensation plans approved by the People‘s Committee of Hung Yen Province where the land was recovered.

” 9. INVENTORIES

Closing balance _ Openlng balance

4B,90046Z,3S7,832 (46,655,143,717) 46,192,Z92,0S1,8y3 (101,069,892,541)’

{i Included In the balance of construction In progress as at 30 June 20zs was VND 1,718 bllllan relating to the investment project on construction of technical Infrastructure forsub-area A—North QM Urban Area, under Pho Nol Urban Area in Hung Yen Province (“North QLS Project") undertaken by the Group. In addition, the Group also recognized VND 4.5 billion under *Other short-term receivables' for land clearance compensation paid by the Group but pending confirmation from the competent State authority In relation to this Project (31 December 2024: VND 4.s bllllon) (Note 8), and VND 23 billion under construction in progress relating to the construction of a restaurant and swimming pool on lot TMDV-7, 5u&area A of the Project (31 December 2024: VND 23 billion) (Note 14). During the perJod, Green Urban Development Joint Stock Company — a subsidiary of the Group — was approved by the People*s Commlttee of Hung yen Province as the selected investor of the Project under Decision No. i618/QD-UBND dated 27 June 2025.

During the period, the Group has reversed provlsion of devaluation Inventory with an amount f VND 51,214,748,624 (During the prior period, the Group had made provision of VND 167,O20,o34,935) ue to changes in the value of slow-moving inventories during the perlod and the change in the net re zable value of inventories as at 3o June 20M compared to the net realizable value when calculat g the provision at the beginning oftheperlod.

As at 3oJune 2025, a part of Inventory with carrying amount of VND 36,978 billion is pledged to secure banking facilities granted to the Group (as at 31 December 2024: VND 29,769 blllion).

HOA PHAT GROUP JOINT STOCK COMPANYNOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

FORM B 09a-DN/HN

(i) As at 30 June 2025, ceriain prepaid land rental rights with net book value of VND 561 billion are

" pledged to secure banking facilities granted to the Group (as at 31 December 2024: VNO 168 billion). T

D