Ladies and gentlemen,
In 2024, the production and business operations of the Corporation took place in the context of continued global economic volatility, escalating geopolitical conflicts, high global fuel prices, and significant exchange rate pressures due to the Federal Reserve’s tightening monetary policy. Domestically, there have been numerous changes in the electricity market operation methods; domestic gas sources continued to decline rapidly; weather and hydrological conditions have been unpredictable, with the severe impact of natural disasters such as storms and floods, especially Typhoon No. 3 (YAGI) in the northern provinces, along with an increasingly widespread energy transition trend.
Facing challenges, with experience and utilised, proactive adaptation strategies, EVNGENCO3 its resources to the maximum, vigorously and synchronously implementing cost-saving and optimization solutions, while promoting the application of science and technology to enhance electricity production efficiency, ensure corporate value, and fulfill its obligations to shareholders.
With the tireless efforts of the entire team of employees in all positions, EVNGENCO3 successfully concluded 2024 with many encouraging results, providing momentum for the Corporation to continue its steadfast and determined development of new power generation projects in the future. Specifically, the total electricity production of EVNGENCO3 in 2024 reached 26.437 billion kWh, with total revenue reaching 41,158 billion VND.
2024 marks a milestone for the Corporation and EPS Company in the field of operation management services and repair of large power plants, with EVNGENCO3 signing an Operation Management and Repair Service Contract for Phu My 3 Power Plant and renewing the Operation Management Contract for Vinh Tan 4 Thermal Power Plant with Viet Nam Electricity.
In terms of financial management, EVNGENCO3 and the Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) signed a Loan Restructuring Agreement for the Mong Duong 1 Thermal Power Plant Project, thereby optimizing interest costs and reducing risks due to fluctuations in the USD/VND exchange rate.

In 2024, the Corporation successfully completed the equitization of EVNGENCO3, laying the foundation for the upcoming restructuring process.
In terms of Investment and Construction, the Corporation made significant progress with the Ninh Binh flexible power plant being added to the implementation plan of the 8th Power Development Master Plan. Other renewable energy projects are also accelerating investment promotion efforts.
Alongside business operations, EVNGENCO3 has actively participated in numerous meaningful charitable activities nationwide, which have been highly appreciated by the government and local people, contributing to a better life for the community with a total expenditure of around 11.4 billion VND.
The Corporation was honored to receive a prestigious award for listed companies – Top 20 non-financial sector companies with the best Annual Report in 2024.
Ladies and gentlemen,
As we step into 2025, the electricity supply and electricity market management policies are expected to continue facing many difficulties and challenges. However, opportunities are always available for businesses that can seize the moment, overcome obstacles, conquer new heights, and boldly reach further, contributing to the nation’s entry into a new era — an era of national growth and advancement.
On behalf of the EVNGENCO3 Leadership, we sincerely thank our Shareholders for their trust and support, and we appreciate the positive cooperation of our customers and partners in 2024 and throughout the journey so far. We would like to express our deepest gratitude to all employees for their contributions and dedication to the process of building and developing the EVNGENCO3 brand.

Wishing you good health, happiness, and success!