Estimated Daily Net Asset Value

For immediate release

VietNam Holding Limited ("VNH" or the "Company")

Estimated Daily Net Asset Value (NAV)

The U.S retaliatory trade tariffs came into effect today, with Vietnam's levy at 46% and China's at an eye-watering 104%.

There has been a sharp war of words between the US and China. Yesterday, Chinese authorities described the US actions as 'Hegemony in the name of reciprocity - typical bullying'. Vice President JD Vance called the Chinese 'peasants'.

Vietnam, on the other hand is being more diplomatic, with trade envoys and government leaders in meetings with US government and private sector leaders, following on from calls made by the General Secretary of Vietnam at the weekend offering 0% tariff on US imports. It is understood that a wide range of meetings are being held to talk about US aircraft purchases, and other deals.

While the encouraging efforts continue, the tariffs have formally arrived, and so the market in Vietnam has softened again, albeit by only 3.4% today. The Net Asset Value (NAV) per share of the Fund has also declined by an estimated 3.9%.

The Company announces that, at its close of business on 09 Apr 2025, its Estimated NAV was USD 94.5 million or USD 4.019 per share and GBP 73.8 million or GBP 3.139 per share (GBP/USD = 1.2805).

Change in position as of 09 Apr 2025:

Daily performance is calculated by reference to the previous day NAV/share and VNAS (Vietnam All Share Index). Calendar month-to-date performance is calculated by reference to NAV/share and VNAS as of 28 Mar 2025. Calendar year-to-date performance is calculated by reference to NAV/share and VNAS at the previous calendar year end (31 Dec 2024). 1-year performance is calculated by reference to NAV/share and VNAS as of 09 Apr 2024. 3-year CAGR (compound annual growth rate) is calculated by reference to NAV/share and VNAS as of 09 Apr 2022. 5-year CAGR is calculated by reference to NAV/share and VNAS as of 09 Apr 2020. 10-year CAGR is calculated by reference to NAV/share and VNAS as of 09 Apr 2015. 15-year CAGR is calculated by reference to NAV/share and VNAS as of 09 Apr 2010. Since inception CAGR is calculated by reference to NAV/share as of 30 Jun 2006. VNAS is sourced from Bloomberg, which uses back-tested positions for VNAS for before 27 Jan 2014 as released by HoSE (Ho Chi Minh City Stock Exchange).

The Estimated Daily NAV stated in this announcement is based on estimated valuations and accordingly the Company accepts no responsibility for the accuracy of the Estimated Daily NAV figure given, and neither is any responsibility implied. The actual month end NAV in any month may vary from the Estimated Daily NAV provided in the relevant month. Accordingly, no reliance should be placed on the Estimated Daily NAV, and it has been provided for indicative purposes only.

More information on the Company is available at www.vietnamholding.com

Craig Martin

[email protected]

Tel.: +84 28 38277 590

Dynam Capital Limitedhttps://www.dynamcapital.com