DIG'S THIRD QUARTER 2022 RESULTS

To: Shareholders of Construction Development Investment Corporation (DIC Group)

Regarding the business results of the third quarter of 2022, DIC Group would like to send to shareholders some specific information as follows:

In the third quarter of 2022, DIC Group recorded consolidated revenue of VND 423.57 billion and Profit after tax of shareholders of parent company lost 0.996 billion dong. In which, gross profit margin decreased by 32.9% to 26.8%.

DIC Group's third quarter revenue mainly comes from real estate activities such as: Transfer of apartments in Gateway Vung Tau project; Transfer of CSJ Tower project apartments; Transfer of land use rights for Nam Vinh Yen urban area project and transfer of raw houses in Hiep Phuoc project. Real estate revenue decreased by 134.2 billion VND (equivalent to 37.51%), service provision revenue increased by 14.32 billion VND (equivalent to 42.06%); revenue from finished products (selling construction materials) increased by 27.79 billion VND (equivalent to 69.61%), construction and installation revenue decreased by 22.99 billion VND (equivalent to 21.69%), making the net revenue The first quarter of 2022 decreased by 114.94 billion VND (equivalent to 21.34% decrease). Financial expenses increased by VND 27.27 billion (equivalent to an increase of 154.86%). From the above reasons, the profit after tax decreased by 44.25 billion VND (equivalent to 102.3%) compared to the same period last year.

Accumulated in the first 9 months of the year, DIC Group recorded consolidated revenue of VND 1,517.87 billion, down 8.3% over the same period and profit after tax recorded VND 141.83 billion, up 3.03% compared to the same period last year. with the same period last year.

The reasons for the decrease in revenue and profit in the third quarter of 2022 are as follows:

- Firstly, some projects have completed infrastructure investment and fulfilled financial obligations on land (payment of land use levy, land rent and related taxes and fees) but the application for the transfer permission was difficult due to objective reasons such as: Inspection and examination; The adjustment of zoning planning (under the responsibility of the State).

Accordingly, DIC Group could not carry out sales as planned, leading to a decrease in revenue. Currently, DIC Group is actively coordinating with the authorities to solve legal problems, striving to have a written permission to sell and record revenue in the fourth quarter of 2022.

- Second, DIC Group makes provision for long-term financial investment. This amount is set aside by DIC Group to ensure the safety of financial investments in accordance with regulations. Currently, DIC Group is reviewing and divesting in inefficient units, so this provision may be refunded in the fourth quarter of 2022.

-Thirdly, currently, DIC Group is negotiating with partners to M&A a number of projects and land plots with prime locations and is coming to a final agreement. Accordingly, if these agreements are completed in the fourth quarter of 2022, it will bring DIC Group a significant source of revenue and profit, completely solving the negative cash flow situation as in the third quarter of 2022.

As you know, 2022 is a year that is determined to be extremely difficult for real estate businesses due to the influence of inflation; the Russian-Ukrainian war; high interest rates; the stock market weakened; The State tightens bond issuance and credit room… In addition, at the end of the year, customers often actively receive the handover of real estate products. This is also the time when DIC Group focuses on revenue and profit recognition. With the reality happening at the enterprise, the Board of Directors and the Executive Board of DIC Group are making maximum efforts to complete the business plan in 2022 approved by the General Meeting of Shareholders.

Best regards,

DIC GROUP