PVFCCo - Phu My comprehensively completes 2025 management plan

Delegates observed the flag ceremony before the official commencement of the conference.

On December 17, PVFCCo - Phu My convened a comprehensive conference to evaluate 2025 performance, deploy the 2026 plan, and host the annual Employee Conference.

Attendees from Petrovietnam included Mr. Le Ngoc Son, Deputy Secretary of the Party Committee and CEO of the Group; Mr. Bui Minh Tien, Member of the Standing Committee of the Party Committee and Member of the Board of Directors; and Mr. Le Xuan Huyen, Member of the Standing Committee of the Party Committee and Vice President of the Group, along with representatives from the Party Committee's advisory boards and the Group's departments and office.

From Phu My, participants included Mr. Nguyen Xuan Hoa, Secretary of the Party Committee and Chairman of the Board of Directors; Mr. Phan Cong Thanh, Deputy Secretary of the Party Committee and CEO of the Corporation; and Mr. Tong Xuan Phong, Member of the Standing Committee and Chairman of the Corporation’s Trade Union, along with members of the Party Executive Board, the Board of Directors, the Board of Management, socio-political organizations, leaders of subordinate units, subsidiaries, and employee representatives.

The Presidium chaired the conference. The Phu My Party Committee's report on 2025 results showed that by identifying challenges early, the Corporation’s Party Committee issued resolutions and thematic action programs from the beginning of the year, leading the implementation of political tasks closely linked with business plans. They also directed subordinate party committees to proactively grasp the situation and promptly resolve difficulties in production, markets, and labor organization.

Mr. Tong Xuan Phong stated that political and ideological work served as the foundation to help Phu My stabilize production and improve efficiency and competitiveness in 2025. Through this work, the Party Committee created high unity among officials, party members, and employees, promoting a spirit of responsibility, discipline, and proactive adaptation to major market fluctuations and production conditions. This was an important foundation for Phu My to maintain stability and efficiency throughout 2025. Science and technology development, innovation, and digital transformation continued to be promoted, contributing to increased labor productivity and competitiveness. In digital transformation, Phu My reached digital maturity level 3.0 and implemented synchronized initiatives on core technology platforms, step by step, forming a modern management platform toward sustainable development.

Mr. Phan Cong Thanh noted that in 2025, Phu My was strongly affected by regional and global economic fluctuations. Domestically, fertilizer oversupply, rising input gas prices, extreme weather, unadjusted export tax policies, and fierce competition directly affected business operations. In this context, with close guidance from the Group, Phu My proactively implemented synchronized management, production, and business solutions. The leadership and the entire staff utilized over 22 years of development experience to step by step overcome difficulties and challenges.

Mr. Phan Cong Thanh emphasized: With close guidance from the Group, Phu My proactively implemented synchronized solutions, step by step, overcoming challenges. In 2025, the Phu My Fertilizer Plant operated stably and safely, with no major shutdowns. The Corporation completed the urea production plan 42 days early, and the NPK production plan 95 days early. In business, from January 1, 2025, Phu My applied a new business model for the entire system, thereby promoting proactiveness and flexibility in line with market developments. At the same time, Phu My consistently proactively balanced production and business, promptly adjusting sales policies to suit market conditions, weather, and seasonal trends.

Consequently, despite facing many challenges, Phu My still comprehensively completed the 2025 business plan; specifically, it exceeded 4 out of 4 management plan targets and the revenue growth target assigned by the Group. Specifically, Phu My's urea production reached over 885 thousand tons, equaling 110% of the management plan; Phu My's NPK production reached over 206 thousand tons, equaling 121% of the management plan. Total consolidated revenue for 2025 reached an estimated 16,300 billion VND, equaling 102% of the revenue growth plan assigned by the Group. These results continue to affirm Phu My's management, executive capacity, and flexible adaptability.

Mr. Le Ngoc Son recognized and highly appreciated Phu My's outstanding results in 2025, affirming the unit's important role in Petrovietnam's overall achievements. Speaking at the conference, Mr. Le Ngoc Son praised the efforts of Phu My's leadership and employees in resolutely and synchronously implementing solutions, thereby completing and exceeding the targets and tasks assigned by the Group amidst many difficulties.

Petrovietnam's CEO emphasized: "To date, Phu My is one of the three typical units of the entire Group that has comprehensively completed its assigned management targets. This shows that 2025 was a very prominent and impressive year for the Phu My collective."

Mr. Nguyen Xuan Hoa affirmed: Phu My seriously accepts the directives from the Group's leadership and will soon concretize them into action plans for the coming period. Informing the conference about the outstanding results and growth Petrovietnam achieved in 2025, Mr. Le Ngoc Son affirmed that Phu My made important contributions to the Group's general achievements.

Regarding the 2026 plan, Mr. Le Ngoc Son requested Phu My's leadership to focus on effectively implementing key tasks. These include focusing on improving the quality of governance and business management; continuing to promote proactiveness and flexibility, closely following market forecasts to control inventory and risks, and improving management efficiency.

Phu My launched an emulation movement for the Overall Maintenance (Turnaround) of the Phu My Fertilizer Plant. At the same time, it must ensure safe and efficient plant operation; strive to shorten the turnaround time to improve production efficiency; and promote research and development of new products. Simultaneously, it must strengthen M&A activities associated with international business to ensure growth targets for 2026 and subsequent periods; continue to build and recreate PVFCCo's culture on the foundation of Petrovietnam's culture; and promote training, human resource development, and talent nurturing.

The Group's leadership expressed confidence that Phu My's staff, party members, and employees will continue to promote the spirit of solidarity and professionalism, with the motto "One Team, One Goal," determined to successfully implement the plans and tasks assigned in 2026, thereby continuing to contribute positively to Petrovietnam's sustainable development.

Phu My recognized and praised 12 collectives for their outstanding achievements and important contributions to the corporation's innovation and growth in 2025. In his response, Mr. Nguyen Xuan Hoa sincerely thanked the Group leadership for their timely guidance and encouragement. The Chairman of Phu My's Board of Directors affirmed that the directives from the Group's leadership were comprehensive; Phu My seriously accepts them and will soon concretize them into action plans for the coming period. He also hoped to continue receiving the Group's support so the unit can perform its assigned tasks well, contributing more effectively to Petrovietnam's overall success.

PVFCCo