SURVEILLANCE RESULT OF RENEWABLE ENERGY COMPANY LIMITED FOR 2025

* 6-MONTH CREDIT RATING OPINION (First year of monitoring): vnBB

* OUTLOOK: Stable

* DATE OF RATING CERTIFICATION ISSUANCE: July 09, 2025

* BUSINESS LINE: Energy

* RATING COMMITTEE:

Mr. Le Hoang Quan, MBA

Ms. Do Phuong Lan, MDE

Ms. Bui Thu Huong, MBA, CFA

* ANALYSTS:

Mr. Nguyen Duc Phu, MSc

Mr. Bui Van Long, MSc

Ms. Diep Ngoc Yen, MSc

* INFORMATION OF INTEREST CONFLICT

– Saigon Ratings’ share ownership in Renewable Energy Company Limited: None

– Saigon Ratings’ bond ownership in Renewable Energy Company Limited: None

– Saigon Ratings’ other debt instrument ownership in Renewable Energy Company Limited: None

– Saigon Ratings employees’ share ownership in Renewable Energy Company Limited: None

Saigon Ratings is committed to the independent and objective implementation of credit ratings.

Saigon Ratings issued a credit rating report as reference information; it is not an investment or capital contribution recommendation for debt instruments issued by the rated company (Renewable Energy Company Limited).

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