Notice Regarding Change in Equity Method Associate by a Consolidated Subsidiary (Subsidiarization)

Overview of M&A

Asia Pile Holdings Co., Ltd. has decided that its consolidated subsidiary, Phan Vu Investment Corporation, will acquire additional shares of Thu Duc Long An Centrifugal Concrete Joint Stock Company (TDLA), an equity method associate, raising its voting rights from 45.9% to 52.2%, thereby making TDLA a consolidated subsidiary. The number of shares acquired is 954,415, and the acquisition price is undisclosed. TDLA manufactures and sells centrifugally formed concrete products and recorded a loss for the fiscal year ending December 2025; however, this deficit is attributed to a one-time provision for long-term overdue receivables.

Outlook and Impact

The share acquisition is scheduled to be executed after obtaining approval from the Vietnam National Competition Commission, expected after May 2026. The impact on the consolidated results for the fiscal year ending March 2027 is currently under review and will be promptly disclosed if necessary. This subsidiarization aligns with the company's medium-term management plan aimed at expanding production capacity and market share in Vietnam, as part of its strategy to strengthen overseas operations.