VNSTEEL Successfully Holds 2026 Annual General Meeting of Shareholders

Attending the AGM were members of VNSTEEL’s leadership, including Mr. Le Song Lai - Chairman of the Board of Directors; Mr. Nghiem Xuan Da - Member of the Board of Directors and General Director; representatives from the State Capital Investment Corporation (SCIC); Standing members of the Party Committee; members of the Board of Directors, Board of Management, Supervisory Board, Internal Audit Department; functional departments; invited guests; and the Corporation’s shareholders.

Panoramic view of the 2026 Annual General Meeting of Shareholders

Mr. Mai Quoc Vuong - Deputy General Director of SCIC delivering a keynote address at the Meeting

Highlights of the 2021-2025 Term

At the meeting, delegates reviewed the 2025 business performance and the overall results of the 2021-2025 term. The year 2025 witnessed significant volatility in both domestic and international steel markets. In response, VNSTEEL closely followed its key objectives, maintained stable governance, and achieved its most positive results since 2021, including:

• Consolidated revenue reached VND 45,130 billion, exceeding the plan by 32.7%;
• Consolidated profit before tax reached VND 660 billion, exceeding the plan by 135.7%;
• Parent company revenue reached VND 2,126 billion, exceeding the plan by 17.5%;
• Parent company profit before tax reached VND 135 billion, exceeding the plan by 382.7%;
• Finished steel consumption exceeded 4.05 million tonnes, surpassing the plan by 15.8%, with long steel output growing by 26.2%, significantly higher than the industry average;
• Initial breakthroughs were achieved in addressing long-standing issues at the TISCO 2 Project and VTM Company.

Mr. Le Song Lai - Chairman of the Board of Directors of the Corporation delivering remarks at the Meeting

The 2021-2025 period was particularly challenging for the steel industry in general and VNSTEEL in particular, due to adverse impacts from the COVID-19 pandemic, global economic slowdown, geopolitical tensions, steel oversupply, and rising trade protectionism.

In this context, VNSTEEL’s Board of Directors focused its leadership on three key pillars:

• Maintaining system stability and preserving state capital;
• Resolving legacy issues (TISCO 2, VTM);
• Restructuring and strengthening the foundation for long-term development.

As a result, VNSTEEL successfully navigated the deep market downturn of 2022-2023, achieved clear recovery in 2024-2025, and maintained its role as a core enterprise in Vietnam’s steel industry.

Strategic Orientation for 2026-2031

Mr. Nghiem Xuan Da - General Director of the Corporation delivering remarks at the Meeting

Entering a new phase, the global economy is expected to face continued uncertainties amid rising geopolitical tensions and increasing trade protectionism, disrupting economic activities and affecting global steel trade flows. Vietnam, with its high economic openness, is anticipated to be significantly impacted by these developments.

VNSTEEL’s Board of Directors has set the development orientation for 2026-2030 based on the principles of Stability - Safety - Efficiency - Sustainability, with a focus on capital efficiency and core steel value chains. The Corporation targets total finished steel output of approximately 20 million tonnes for the 2026-2030 period, up 13.3% compared to 2021-2025.

Based on this orientation, VNSTEEL has established its 2026 business plan with the following key targets:

• Consolidated revenue: VND 49,240 billion;
• Consolidated profit before tax: VND 725 billion;
• Parent company revenue: VND 2,040 billion;
• Parent company profit before tax: VND 150 billion.

Enhancing Governance Through Technology

The 2026 AGM marked a transformation in organizational practices, with VNSTEEL applying technology to enhance efficiency and professionalism. The Corporation utilized AI to convert traditional report content into dynamic video presentations with automated voiceovers, making information more visual and accessible.

Notably, an electronic voting system replaced manual vote counting, improving transparency, accuracy, and reducing the duration of the meeting.

Following the approval of submitted proposals, the AGM conducted elections for members of the Board of Directors and the Supervisory Board for the 2026–2031 term via the EzGSM electronic voting system.

Newly Elected Leadership

Board of Directors (2026-2031):

1. Mr. Le Song Lai - Chairman
2. Mr. Nghiem Xuan Da - Member, General Director
3. Mr. Nguyen Dinh Phuc - Vice Chairman
4. Mr. Tran Tien Tung - Member
5. Mr. Thoi Van Tan - Member

The Corporation’s Board of Directors for the 2026-2031 term making their debut at the Meeting

Supervisory Board (2026-2031):

1. Ms. Tran Thi Hong Linh - Head of Supervisory Board
2. Mr. Nguyen Duc Vinh Nam - Member
3. Mr. Nguyen Minh Duc - Member
4. Ms. Truong Thi Tuyet - Member
5. Mr. Nguyen Minh Giap - Member

The Corporation’s Supervisory Board for the 2026-2031 term making their debut at the Meeting

The Meeting bids farewell to outgoing members of the Board of Directors and the Supervisory Board who will not continue into the 2026-2031 term

The AGM also extended its appreciation and farewell to outgoing members of the Board of Directors and Supervisory Board who will not continue into the new term.

Remarks from SCIC Representative

The AGM heard remarks from Mr. Mai Quoc Vuong - Deputy General Director of SCIC, who highly appreciated VNSTEEL’s efforts throughout the past term. He noted that in 2025, VNSTEEL achieved significant milestones that should be sustained and further promoted in the 2026-2031 term.

He also emphasized the need for VNSTEEL to closely follow directives from higher authorities to fully resolve outstanding issues, including equitization finalization and the TISCO 2 and VTM projects.

Conclusion

The 2026 AGM concluded in a spirit of strong confidence and determination. With the continued support and partnership of shareholders, VNSTEEL is committed to optimizing operational efficiency, promoting sustainable development, and maintaining its position as one of Vietnam’s leading steel producers.

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