CREDIT RATING RESULT OF TNPOWER ENERGY JSC OF 2022

* CREDIT RATING OPINION (first time): Confidential

* OUTLOOK: Confidential

* DATE OF RATING CERTIFICATION ISSUANCE: November 16, 2022

* ANALYSTS:

Mr. Nguyen Phi Long, ACCA

Ms. Tran Thi Thuy Linh, MA

Ms. Le Nu Cat Khanh, MBA

Ms. Dao Minh Thuy, MSc

* RATING COMMITTEE:

Mr. Nguyen Duc Phu, MSc

Mr. Nguyen Tri Hieu, PhD

Ms. Nguyen Thanh Nhon, PhD

Mr. Nguyen Xuan Dung, CPA

* INFORMATION OF INTEREST CONFLICT

– Saigon Ratings’ share ownership in TNPOWER: None

– Saigon Ratings’ bond ownership in TNPOWER: None

– Saigon Ratings’ other debt instrument ownership in TNPOWER: None

– Saigon Ratings employee’s share ownership in TNPOWER: None

Saigon Ratings is committed to the implementation of credit rating independently and objectively.

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

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