HAPPY TET LETTER 2024 FROM THACO CHAIRMAN TRAN BA DUONG

Dear Leaders, Shareholders, Partners, Customers and all staff.

The year 2023 ends in a context of economic growth not as expected, with many uncertainties in the world due to geopolitical conflicts, domestic consumption is estimated to decrease by about 35 - 40% compared to 2022. Most businesses face many difficulties and challenges. However, THACO remains steadfast, continuing to invest in production and business according to the set strategy and adjusted to suit the context of market and economic decline. At the same time, THACO focuses on implementing the program of improving and upgrading governance, creating a foundation for the development of THACO 's multi-industry strategy and the production and business strategies of its member corporations .

In the field of Automobiles : THACO AUTO leads the domestic automobile market with more than 36% market share ; exported 2,600 vehicles. Upgraded the retail system and after-sales service with more than 440 points of sale. In particular, introduced and put into operation the Multi-brand Passenger Car Showroom Complex in Binh Duong; Passenger Car Showroom Complex combined with Truong Chinh - Phan Huy Ich Trade Center (Go Vap - Ho Chi Minh City).

In the field of Mechanical Engineering & Supporting Industry: THACO INDUSTRIES has developed many new products such as: Mechanical engineering products; Industrial and agricultural equipment; Auto spare parts and components and expanded export markets in Europe and North America... Revenue in 2023 reached nearly 8,700 billion VND , of which, exports reached more than 105 million USD .

In the field of Agriculture : THACO AGRI has invested and completed a large-scale agricultural production model on an organic basis in an integrated/circular direction . Total fruit output reached more than 123,000 tons . Total cow herd reached nearly 79,000 heads . Total pig herd reached 58,000 heads , animal feed production reached 84,000 tons . Total revenue of THACO AGRI reached nearly 3,500 billion VND . HAGL Agrico has also received an Investment License from the Lao Government for agricultural investment and production and business projects in Laos.

In the field of Construction Investment : THADICO invests in and constructs industrial park projects, complex real estate projects and comprehensively manages the investment and construction of THACO and other projects. In 2023, THADICO handed over the following projects on schedule: Thiso Mall Truong Chinh - Phan Huy Ich (HCMC) and completed Thiso Sala Center (HCMC); BMW-MINI-BMW Motorrad Binh Duong Showroom Complex; At the Agricultural Complexes, THADICO has implemented the construction of Traffic - Irrigation - Electricity systems; works on land serving production and business (farms, factories, warehouses, training centers, etc.) and works serving the welfare of workers (workers' housing, medical centers, sports centers, etc.) .

In the field of Trade & Services : THISO owns, operates and manages Commercial - Service real estate. In 2023, Emart Truong Chinh - Phan Huy Ich Supermarket (Go Vap - Ho Chi Minh City) was put into operation. At the same time, Thiskyhall Sala Wedding and Convention Center was completed and officially put into operation.

In the field of Transportation and Logistics : THILOGI is implementing a project to build and expand a 50,000-ton port with modern and synchronous loading and unloading equipment including specialized gantry cranes (STS) for container ships, and tire-mounted gantry cranes (RTG) using a semi-automatic electrical system to improve productivity and operational efficiency, expected to be completed and put into operation from April 2024.

Dear Leaders, Shareholders, Partners, Customers and all staff.

In 2024, the economy is forecast to be flat compared to 2023 in the first 6 months of the year and is expected to grow slightly in the last 6 months of the year. THACO and its subsidiaries continue to promote the spirit of overcoming difficulties with the mindset of striving to overcome challenges to complete the plan with the goal of growing more than in 2023 and achieving the goals of the 5-year plan (2023 - 2027). In particular, THACO AUTO will transform the retail system management model with multi-brand showroom complexes , showroom complexes combined with commercial centers and comprehensively enhance management capacity. At the same time, implementing projects to develop new car products to meet market requirements, expected to grow to more than 38% of the domestic car market share. THACO INDUSTRIES continues to promote investment in expanding production, focusing on research and development (R&D), increasing product development: auto parts, machinery, agricultural equipment, expanding export markets ; growth of 40% compared to 2023. THACO AGRI continues to perfect the large-scale agricultural production model on an organic basis in the direction of integration/circulation, accelerating investment projects in construction, new planting, and livestock breeding to create a foundation for sustainable agricultural development ; growth of 100% compared to 2023. THADICO continues to invest in 03 specialized industrial parks; Hand over the Chu Lai Port Expansion and Upgrade Project and complete dredging of Ky Ha channel; Complete construction of 04 projects and deploy new investment in 12 real estate projects. THISO completes the complex model " One destination - Many service utilities " and enhances the services of Thiskyhall Sala Wedding and Convention Center. At the same time, THISO will start construction of 03 new shopping centers and 01 5-star hotel. THILOGI forms a logistics network with reasonable routes and stations connecting to the Central Highlands, Laos, Cambodia with Chu Lai Port to support THACO AGRI's fruit export activities. At the same time, effectively exploit integrated and complete logistics services in the Central and Central Highlands.

Dear Leaders, Shareholders, Partners, Customers and all staff.

Since its establishment, THACO has contributed more than 198,000 billion VND to the State budget , nearly 21,000 billion VND in 2023 alone . The plan for 2024 is that the total budget contribution is expected to reach nearly 24,500 billion VND . In addition to production and business activities, THACO also actively participates in contributing to social activities such as: Sponsoring many research projects, education, social television programs, education, sports, traffic safety... with a total budget of more than 390 billion VND , contributing to spreading humanistic values.

2024 is the second year that THACO continues to implement the multi-industry strategy and 5-year plan (2023 - 2027) with the goal of completing the Governance Model of a large-scale multi-industry industrial group with a complete governance platform and successfully applying digital transformation by 2027.

On behalf of the Board of Directors and all THACO employees, we would like to sincerely thank the leaders, shareholders, partners, customers, and media agencies for trusting, supporting and backing THACO over the past time.

On the threshold of the New Year of the Dragon 2024, I wish you and your family a new year of health, happiness and more success! Wishing all THACO employees to always be full of enthusiasm, strive to study and contribute to successfully complete the 2024 plan tasks according to the set strategy.

Best regards.

Chairman of THACO Board of Directors

CYCLE CT-03