Dear Valued clients, partners, shareholders and investors,

On behalf of the Board of Directors, the Board of Supervisors, and the Board of Management and all staff of SHB, I would like to express our profound gratitude to the Valued clients, partners, shareholders and investors for your trust and support throughout our 30-year journey.

Your trust and support have become invaluable in the context of the turbulent and challenging 2022. Thanks to the mutual co-operation, we are able to overcome the difficulties and expand the success to contribute more effectively to the national prosperity.

SHB’s success is demonstrated by a number of amazing results. The bank continues to be ranked in Top 5 private commercial joint stock bank in Vietnam. As of December 31, 2022, the total assets of SHB equal VND 550,904 billion; Tier 1 capital in line with Basel II standards VND 62,577 billion; total customer deposit VND 478,015 billion; total loan outstanding is equivalent to VND 398,819 billion.

Business performance of SHB continually improves as Total operating income in 2022 reaches VND 19,341 billion; pre-tax profit equivalent to VND 9,690 billion approximately 54% growth compared to 2021. Capital adequacy, liquidity, and risk management ratio all exceed regulatory requirements prescribed by the State Bank of Vietnam (SBV) and international standards.

SHB keeps on the right track to become the top performing bank in Vietnam with Returns on equity (ROE) in 2022 equal to 24.7% and the banking sector’s lowest cost-to-income (CIR) ratio 22.7%

In order to satisfy shareholders’ interest and expectation, the dividend payout ratio is 18% - the highest ratio in the past years. During its operation, SHB remains as one of a few regular dividend- paying commercial banks.

Having finished all 3 pillars of Basel II ahead of schedule, in the past year SHB prepares for adopting Foundation IRB (FIRB) approach and International Financial Reporting Standards (IFRS) to promote sustainable and comprehensive growth strategy and further foster the foundation for risk management and more effective capital use.

Thanks to continuous efforts in strengthening financial capacity and promoting business efficiency, SHB’s reputation and position have been recognized and honored by international organizations in the past year. Moody’s has rated SHB at B1, positive outlook. Many large financial institutions such as the WB, ADB, and IFC... enhance cooperation by providing SHB higher and higher value of grants and loans.

In 2022, SHB also carries out the final step to divest SHB Finance to Krungsri Bank of Thailand (a strategic member of MUFG Group - Japan). This capital transfer agreement will bring about a significant capital surplus to serve business growth and investment in 2023.

Year 2022 marks the radical transformation of SHB in its comprehensive digitization and modernization strategy when more than 30 new digital products, features, utilities and many digitization projects have been launched. The digital transformation strategy not only directly promotes business activities but also constantly improves the customer experience and further optimizes the operation.

In the digitization strategy, SHB has invested extensively to upgrade Core Banking, card system and implement investment banking, LOS, Omni Channel system... Besides, SHB has cooperated with leading fintech enterprises in the world, expanding cooperation with various service partners to promote digital transformation and develop a thick digital ecosystem. Particularly in 2023, SHB is working on a totally new digital platform branded as SHB SAHA utilizing leading technology on the market.

Digital transformation with the focus on digital culture also contributes to a modern, professional and innovative workplace at SHB. Along with a competitive compensation package, this is one of the talent attractions for SHB to continue to consolidate and develop its human resources in the past year as well as preparing the ground for upcoming successes.

On the journey of those successes, overcoming arching challenges, SHB more than ever appreciates the patronage of the Valued Clients, partners, shareholders and investors.

Many community activities and customer support programs have been actively implemented by SHB in the past year to embrace the corporate social responsibility and continue as the transcending corporate value in the 30-year journey of SHB and in the future.

Highly appreciated by many prestigious domestic and international organizations, the bank is honored as “The Best Socially responsible bank in Vietnam” in addition to many awards and ranks in Top most effective banks in Vietnam, Top 50 best enterprises in Vietnam, Top 500 most valuable banking brands in the world...

Ladies and Gentlemen,

SHB has stepped into the second year of transformation period between 2022 and 2027. Each member of the Board of Directors and the Board of Management, each employee in the whole Bank, every single operation process, market segment and product are all under the rising pressure to transform extensively. The ultimate objective of this process is to optimize operational efficiency. Thereby, SHB will deliver more values to customers and partners and satisfy the best interests for shareholders and investors.

The transformation strategy of SHB adheres to four key pillars: Institutional and policy reform; Customer and market-concentricity; Human resources development; Modern information technology platform and digital transformation. With the trust, support and patronage of customers and partners, shareholders and investors, SHB is determined and confident to successfully implement this transformation strategy, realizing the goal of becoming top performing bank in Vietnam, the leading modern retail bank in the region and the most popular digital bank in Vietnam in the next 5 years.

In 2023, SHB plans to increase its charter capital to over VND 36,600 billion, consolidating its position in the Top 5 private commercial joint stock banks in Vietnam. Key performance indicators grow by up to 15%, dividend payout ratio is ensured; credit quality is strictly monitored in line with sustainable growth requirements and international operational standards.

2023 marks the 30^th year of SHB’s establishment. Overcoming numerous difficulties and challenges on the journey, we remain steadfast with the six guiding values: Heart - Faith - Trustworthiness - Knowledge - Wisdom - Prestige that have led our people’s mind and actions.

Taking people as the center, taking the heart as the root, from thoughts to actions of SHB people all come dedicate from the heart and dedication. Regardless of the circumstances, the Heart guides all activities of the bank operation and, keeping seriously adhering to our Code of the business ethics with partners and customers, being kind to the community social responsibility and humane to employees people-centric human resources policy and colleagues.

From the Heart to create trust and confidence. In order to have restore success like today as well as in the future, first of all, each an every SHB person employee first nurtures their self-chas faith and ability in themselves confidence and capability and then, faith in the mission and strategy of the bank. And We always keep in mind that each successful step is closely tied to determined and sustained by the trust of customers and shareholders, which form the for sustainability. That trust is the most valuable asset that we always keep in mind and preserve to build a solid reputation in the market to affirm our Prestige in the market.

Moving to advance forward together, to overcome difficulties and challenges, to have formulated a sound vision and strategy, seize the opportunities for sustainable development, each SHB person employee is well aware of the requirement of constantly fostering and accumulating. Their knowledge, understanding, knowledge, associated with skills and experience... Along with that, always have to practice wisdom, bravery to face challenges, dare to do the impossible to break through, use wisdom to create turning points in the development process. Furthermore, we shall constantly sharpen the mind and fearlessness spirit to readily face with challenges and do the impossible that can create turning points during the course of business growth.

With those guiding values, taking Mind as the root to reach Reach, with the close companionship of customers and partners, shareholders and investors. We believe that SHB will continue to conquer new heights after its 30-year journey full of pride, just now.

Best regards,

Chairman of the Board of Directors