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

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

PetroVietnam Power Corp / Equity Bottom-Up

<ul><li>NT3 achieved COD on November 21, 2025, becoming Vietnam’s first LNG-fueled gas power plant.</li><li>NT4 started running on oil from November 27, 2025, and is expected to complete reliable operation within 12 days, with COD scheduled in December 2025.</li><li>Under Decree 100/2025, NT3&amp;4’s minimum contracted output (Qc) is 65% (6.05bn kWh based on the designed capacity of 6,000 hours/year). </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>

NT3 achieved COD on November 21, 2025, becoming Vietnam’s first LNG-fueled gas power plant.NT4 started running on oil from November 27, 2025, and is expected to complete reliable operation within 12 days, with COD scheduled in December 2025.Under Decree 100/2025, NT3&amp;4’s minimum contracted output (Qc) is 65% (6.05bn kWh based on the designed capacity of 6,000 hours/year). 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.

PetroVietnam Power Corporation  (POW VN/Non-rated) - Analyst meeting 2025