NOVALAND 2025 AGM: RECOVERY EFFORTS - NOVALAND SETS 2025 GOALS CLOSE TO REALITY AND FOCUS ON REMOVING LEGAL PROBLEMS

On April 24, 2025, at the 2025 Annual General Meeting of Shareholders held at NovaWorld Phan Thiet, Novaland Group reported on its 2024 operations, approved its 2025 business goals and long-term development strategy to 2030. Facing many difficulties and pressures, the Group will continue to restructure, strive to resolve project legal issues, improve governance and operations, digital transformation and gradually implement the ESG roadmap towards sustainable development.

Challenges remain great, Novaland sets cautious business plans, closely following reality

In 2025, the Vietnamese real estate market will face many great opportunities but also many difficulties and pressures from factors of macroeconomic instability, institutional reform, delays in implementing new laws, difficulties in accessing capital as well as challenges from infrastructure and planning...

Mr. Bui Thanh Nhon - Founder, Chairman of the Board of Directors of Novaland delivered the opening speech at the Congress.

Speaking at the opening ceremony of the Congress, Mr. Bui Thanh Nhon - Chairman of the Board of Directors of Novaland shared: “The years 2024 and 2025 continue to be a period of turmoil but also open up opportunities for businesses with courage, good products and clear strategies. For Novaland, 2025 will be a turning point, marking the strong return of the Group with a new strategy, opening up a housing segment for middle-income people. This strategy does not bring much profit but will be sustainable because there is a stable cash flow for Novaland and it follows the development strategy of the country. Focusing on harmonizing three benefits - Enterprises, Customers, and the country, Novaland not only restructures to survive - but also to break through, bringing Novaland into a new stage of development, integrating with the country's double-digit growth, raising its position in the region".

More specifically about the strategy of opening more housing segments for middle-income people, Mr. Bui Thanh Nhon added that Novaland is asking for permission to convert Phu Dinh Port area (District 8, Ho Chi Minh City) of nearly 50 hectares, Quan Tre Area (District 12, Ho Chi Minh City) of nearly 10 hectares into social housing and housing for middle-income people.

Based on a clear identification of the difficulties and long-standing problems from both objective and internal factors, Novaland strives to develop solutions to overcome them, gradually remove obstacles, and flexibly implement many specific solutions to recover and ensure the rights of stakeholders. The Group also identifies 2025 as a pivotal year to consolidate its operational foundation, prepare for a period of strong growth after restructuring, accordingly, 2025 will focus on key goals including: legal clearance, promoting construction and optimizing cash flow; perfecting governance and operations in a streamlined and efficient manner; comprehensive digital transformation, improving performance and gradually implementing ESG standards.

Mr. Hoang Duc Hung - Independent Member of the Board of Directors presented the Board of Directors' Report and the roadmap for implementing international standard ESG strategy.

In 2025, Novaland has set two options (PA) for its business plan with expected revenue growth of 15 - 48%: PA1 with net revenue of VND 13,411 billion, loss after tax of VND 12 billion and PA2 with net revenue of VND 10,453 billion, loss after tax of VND 688 billion. The key factor affecting Novaland's business results is still the progress of legal settlement of the project, so the above two options are set out very cautiously, based on two legal scenarios. In the context of the real estate market still facing many difficulties and pressures, Novaland always adheres to its business strategy combined with strict risk management. This plan also demonstrates Novaland's spirit of looking straight at reality to balance the recovery goal and ensuring the rights of shareholders and bondholders.

Overview of the 2025 Annual General Meeting of Shareholders of Novaland Group.

Regarding the profit distribution plan, Novaland will not pay dividends in 2024, the remaining undistributed profit after tax of more than VND 13,281 billion will be used to focus on business recovery plans.

In 2025, Novaland aims to hand over 1,546 products from projects, of which the fourth quarter is identified as the peak handover period, reflecting the construction progress focusing on completion in the first 6 months of the year and legal problems are gradually being resolved in the middle of the year. This is also the basis for Novaland to soon complete financial obligations at the projects, achieving the goal of granting nearly 7,000 pink books to residents in 2025.

More fundraising options, strengthening the executive board

Novaland's 2025 Annual General Meeting of Shareholders also approved many other important contents. Regarding capital mobilization, the Company canceled the plan to issue up to 1.17 billion additional shares to existing shareholders and replaced the plan to issue up to 200 million individual shares with a new plan: issue up to 350 million individual shares to up to 20 professional investors, the issuance price is 10,000 VND/share.

Mr. Duong Van Bac - General Director of Novaland Group presented the Board of Directors' Report for 2024 and Business Plan for 2025.

For the international convertible bond package listed on the Singapore Stock Exchange, after efforts to negotiate debt extension with bondholders, ensuring the principle of fair and equal treatment for all investors, Novaland continued to present a new restructuring plan which was approved by the congress.

The meeting also approved the resignation of Mr. Ng Teck Yow as a member of the Board of Directors and the resignation of Ms. Nguyen My Hanh as an independent member of the Board of Directors, and elected and completed the Executive Board with two new members of the Board of Directors, Mr. Duong Van Bac and Mr. Doan Minh Truong. This is a timely adjustment and addition for Novaland's new development journey, ensuring the best value for shareholders and the Company.

Mr. Bui Thanh Nhon - Chairman of Novaland Board of Directors presented flowers to Mr. Duong Van Bac and Mr. Doan Minh Truong - 02 new members of the Board of Directors who were just trusted and elected by the Congress.

At the same time, with the aim of connecting, recognizing the efforts and contributions of the staff, while increasing competitive advantages to promote recruitment and attract talent, Novaland plans to issue shares under the Employee Stock Option Program (ESOP) in 2025 to replace the issuances that have not been implemented in the past 3 years due to unfavorable market conditions. Accordingly, the 2 approved ESOP issuance plans for 2025 have a total issuance rate of 5%, the total number of shares expected to be issued is 97,505,226 shares.

In addition, the Congress also approved the contents on selecting an auditing company for the 2025 financial statements; adding business lines; amending and supplementing the Charter, Corporate Governance Regulations, and Operating Regulations of the Board of Directors; amending and supplementing the Compensation Framework Agreement...

Deploying international standard ESG roadmap, building long-term development strategy to 2030

Identifying the integration of ESG into the growth strategy as a key task and a lever to enhance competitiveness, attract green capital, and contribute to the national development orientation, at Novaland, ESG transformation actions are spreading strongly throughout the system. Novaland has strategically cooperated with GreenViet to implement the ESG development roadmap for the period 2025 - 2030, aiming to achieve GRESB certification (an organization that evaluates ESG performance in the real estate sector) with a high ranking.

Novaland signed strategic cooperation agreements with prestigious partners to develop ESG in the period 2025 - 2030.

Regarding long-term development strategy, Novaland has set specific goals until 2030. In particular, the period 2024 - 2025 is an important period to remove legal issues, clear capital sources and promote construction and handover activities at key projects, standardize governance and operations as well as focus on digital transformation, gradually implementing ESG standards.

From 2026 to 2027, Novaland aims to increase the selling price of existing products by at least 20%, complete restructuring, this is also the stage where the Company moves towards a decentralized financial model. In the period of 2028 to 2030, Novaland will focus on successfully implementing the Real Estate Investment Management Fund (REIM) model, investing in land funds and aiming for sustainable, transparent, international standard growth, creating sustainable value for shareholders and the community.

Source: https://www.novaland.com.vn/tin-tuc-1/thong-tin-novaland/tin-du-an/dhdcd-2025-novaland-no-luc-phuc-hoi-novaland-dat-muc-tieu-2025-bam-sat-thuc-te-va-tap-trung-thao-g-phap-ly