External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives.

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Thematic (Sector/Industry)

Vietnam Financials / Thematic (Sector/Industry)

<ul><li>VPL as a new entrant in VN30 basket Based on our calculation, VPL is obviously eligible to be added to the VN30 basket in the upcoming review, thanks to: 1) its 11th–ranked market capitalization, which makes VPL a must-have component and 2) it has eventually met the minimum six-month listing requirement on the HSX, while all other eligibility criteria have been satisfied since its IPO in May 2025.</li><li>In contrast, BCM is clearly eliminated, due to its failure to meet one of the two liquidity screening requirements – the minimum average daily trading value of VND30bn, like BVH’s case in the last review.</li><li>As of 4Q25, BCM’s average daily trading value reached only VND26.8bn, below the required threshold, so the stock is set to be removed from the basket in the January review. </li></ul><div class="content-highlight"><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></div>

VPL as a new entrant in VN30 basket Based on our calculation, VPL is obviously eligible to be added to the VN30 basket in the upcoming review, thanks to: 1) its 11th–ranked market capitalization, which makes VPL a must-have component and 2) it has eventually met the minimum six-month listing requirement on the HSX, while all other eligibility criteria have been satisfied since its IPO in May 2025.In contrast, BCM is clearly eliminated, due to its failure to meet one of the two liquidity screening requirements – the minimum average daily trading value of VND30bn, like BVH’s case in the last review.As of 4Q25, BCM’s average daily trading value reached only VND26.8bn, below the required threshold, so the stock is set to be removed from the basket in the January review. 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.

Forecast – HoSE Indexes review in 1Q26