GTJASVN_PDR Equity Report_AGM and Earnings updates_02.07.2025_ ENG

Phat Dat (PDR) enters the 2025–2026 period with expectations of a significant improvement in profitability, driven by legal progress and plans to launch a series of key projects. At the same time, the addition of land banks in Ho Chi Minh City and Binh Duong expands the medium- to long-term growth potential, while cash flow risks are well managed through strategic partnerships and project transfers. Strategic orientation: In the short term (2025–2026), Phat Dat Real Estate Development Corporation (HoSE: PDR) will prioritize accelerating sales and project handovers across six flagship developments.

About financial arrangements for projects development: Addressing concerns about capital pressure amid investment expansion, Mr. Nguyễn Văn Đạt, Chairman of Phát Đạt’s Board of Directors, stated that the company expects to generate approximately VND 10,000 billion in revenue soon after transferring the Bắc Hà Thanh (Bình Định) project and the Thuận An 1 and Thuận An 2 projects (Bình Dương) to partners.

2025 business plan: For 2025, Phát Đạt has set a revenue target of VND 3,300 billion, a 2.5-fold increase compared to the previous year. Pre-tax and after-tax profits are projected to reach VND 910 billion and VND 728 billion, respectively, representing a nearly fivefold increase over the results achieved in 2024.