Dear Valued Shareholders, Customers, Partners, and All Employees,

The year 2025 has come to a close, marking the 30^th anniversary of the establishment and development of Bao Long (1995–2025). This milestone is not only a measure of time but also a testament to Bao Long’s perseverance, resilience, and continuous innovation over the past three decades.

The economic landscape in 2025 continued to present significant challenges for the business community. Global economic volatility, increasing domestic competition, and rising requirements for transparency and risk management have compelled insurance companies to restructure and enhance their adaptability. Nevertheless, Vietnam’s economy maintained stability, providing a foundation for the insurance market to gradually recover and move toward more sustainable growth.

Market Overview and Bao Long’s Position

In 2025, the non-life insurance market remained highly competitive, particularly in key segments such as motor, property–engineering, and personal insurance. At the same time, service quality, claims settlement speed, and customer experience have increasingly become critical factors determining a company’s competitiveness.

In this context, Bao Long remained committed to a prudent growth strategy, prioritizing efficiency over rapid expansion. The Company focused on strengthening its financial foundation, improving underwriting quality and risk control, and enhancing the application of technology in management and operations.

Key Highlights of 2025

The year 2025 recorded several notable achievements:

• Successfully completed and stabilized the operation of the core non-life insurance system, enhancing automation and transparency in business processes.
• Accelerated digital transformation, expanded API connectivity with partners, and increased the proportion of online transactions.
• Enhanced customer experience through continuous improvements in claims processing and after-sales services.
• Strengthened risk management to ensure safe operations and full compliance with regulatory requirements.

Notably, the 30^th anniversary in 2025 providedan opportunity for the entire organization to reflect on its journey, reinforce core values, and reaffirm its commitment to sustainable development.

Strategic Direction for the Next Phase

Entering 2026 and a new phase of development, Bao Long will continue to focus on:

• Enhancing financial capacity and corporate governance in line with transparency standards.
• Deepening investment in technology and data to optimize operational efficiency.
• Developing flexible products to meet increasingly diverse customer needs.
• Building a professional workforce capable of adapting to a more competitive environment.

Thirty years is a proud milestone, yet it also marks the beginning of a new journey ahead. With the continued support of our valued shareholders, customers, and partners, along with the unity and dedication of our employees, we are confident that Bao Long will sustain its growth, strengthen its brand, and contribute meaningfully to the development of Vietnam’s non-life insurance market.

On behalf of the Board of Directors and the Management, I would like to express our sincere appreciation for your trust and continued support. Wishing our valued shareholders, customers, and partners continued success and prosperity.

Sincerely,