MSR's production line

If approved by shareholders, the advance dividend will be VND 1,000 per share, equivalent to 10% of par value, with a total payout of approximately VND 1,100 billion, equal to 50% of MSR's after-tax profit (NPAT) for the first six months of 2026. On an annualized basis, this dividend is equivalent to a rate of approximately 5%. The record date for collecting shareholders' opinions, the final registration date, and the dividend payment date will be determined and announced by MSR in accordance with regulations after the plan is approved by shareholders.

This move comes as MSR's business results have improved significantly and the financial deleveraging process is progressing faster than planned. In the first six months of the year, the Company achieved VND 2,202 billion in after-tax profit before minority shareholders' interests, a turnaround from a loss of VND 216 billion in the same period of 2025, and completed approximately 88% of the highest target in its full-year 2026 profit plan.

If current market conditions continue, MSR's management expects that full-year profit could significantly exceed the highest target in the plan, thereby providing further grounds for its dividend policy in the coming years.

Financially, the proposed dividend plan does not change MSR's financial deleveraging roadmap. MSR's net debt/EBITDA ratio had fallen to 2.1x by the end of the second quarter of 2026. The Company stated that even after accounting for the planned dividend, this ratio by year-end is still expected to improve significantly compared to the previously announced target of approximately 1.7x.

MSR is also maintaining its roadmap toward a net cash position in 2027. As a result, the dividend payment is expected not to change the deleveraging plan, while also marking an initial step in the direction of building a sustainable dividend policy as business operations generate stable cash flow.

MSR currently operates the Nui Phao polymetallic mine and a tungsten processing plant in Thai Nguyen. The Company holds the position of the world's largest producer of deep- and near-deep-processed tungsten products outside China, supplying materials to industries such as electronics, automotive, aerospace, energy, and pharmaceuticals.

Under Masan Group's strategic direction for capital allocation, member units are expected to self-fund their growth, strengthen their financial foundations, and gradually share results with shareholders once sustainable profitability is achieved. If approved, MSR will become one of the Group's cash-generating units to begin contributing more directly to shareholder returns.