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External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>Using the Sum of the Parts (SoTP) method, we have determined DPR’s fair value at VND 52,700 per share, along with a dividend of VND 2,000, implying an expected return of 40%, based on the closing price on December 8th, 2025.</li><li>During 2025–2029, production is expected to remain stable at around 11,800–12,800 tons per year, thanks to consistent replanting at 450–500 hectares per year and productivity maintaining around 1.9–2.0 tons/hectare.</li><li>In terms of pricing, we expect DPR to maintain an average price of around VND 47–50 million per ton during this period, reflecting the global natural rubber price trend staying at an equilibrium level as global supply remains constrained and demand is expected to slow.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Using the Sum of the Parts (SoTP) method, we have determined DPR’s fair value at VND 52,700 per share, along with a dividend of VND 2,000, implying an expected return of 40%, based on the closing price on December 8th, 2025.During 2025–2029, production is expected to remain stable at around 11,800–12,800 tons per year, thanks to consistent replanting at 450–500 hectares per year and productivity maintaining around 1.9–2.0 tons/hectare.In terms of pricing, we expect DPR to maintain an average price of around VND 47–50 million per ton during this period, reflecting the global natural rubber price trend staying at an equilibrium level as global supply remains constrained and demand is expected to slow.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dong Phu Rubber Jsc

DPR - Old Fields, New "Golden" Season