VINES AND MARUBENI COOPERATE TO PROMOTE THE ADOPTION OF BATTERY ENERGY STORAGE SYSTEM IN VIETNAM

Ha Noi, Vietnam, 18th May 2023 - VinES (a member of Vingroup) and Marubeni Green Power Vietnam (a fully-owned subsidiary of Marubeni Corporation) have entered into a strategic partnership to promote the adoption of battery energy storage systems (BESS) in Vietnam.

Under the agreement, Marubeni will jointly evaluate with VinES to, invest in, install and operate BESS at multiple business locations of Vingroup's companies to provide an energy saving solution, load balancing, and more efficient power management. The BESS can potentially be integrated with renewable energy systems to accelerate Vingroup's transittion to clean energy.

In addition, as the only BESS manufacturer in Vietnam, VinES offers a safe, efficient and economical one-stop solution based on its giga-scale production capacity. VinES will be the manufacturer and solution provider of the BESS for Marubeni in this cooperation.

Marubeni plans to develop tens of MWh BESS systems in the first phase and expects further capacity expansion in the subsequent phases.

Sharing about the strategic partnership, Ms. Pham Thuy Linh, VinES's CEO said "We are delighted to announce the strategic collaboration with Marubeni Corporation regarding the adoption of Battery Energy Storage Systems (BESS), including the deployment at multiple Vingroup facilities. This strongly exemplifies Vingroup's commitment to transitioning to clean and smart energy solutions".

Ms. Linh further added: "The collaboration with Marubeni not only marks a strategic milestone where large industry players join hands to promote the use of BESS in Vietnam, but also realises VinES's vision towards clean energy solutions. It demonstrates our capability to offer high-quality products and services that meet the stringent requirements of reputable international developers. With our state-of-the-art production facilities, well-developed supply chain, and internationally experienced R&D team, VinES takes pride in being the pioneer that develops, manufactures, and provides BESS solutions in Vietnam. We are strongly committed to actively contributing to the clean energy transition in Vietnam and globally."

"By taking advantage of Marubeni's global experiences in various industrial sectors, Marubeni expects to strengthen the strategic collaboration with Vingroup as the most reputable enterprise in Vietnam, invent innovative solution through BESS technologies, and advance its corporate policy towards carbon neutrality" - said Mr. Yuji Otsuka, Chairman cum Director of Marubeni Green Power.

This innovative cooperation between VinES and Marubeni, involving the manufacturer/solution provider and the investor/operator will set an exemplar for Vietnam corporations to adopt BESS application in their operations and businesses, and to promote a commitment to clean energy transition and a sustainable future.

Marubeni has rich experiences in various business sectors in Vietnam as the core market historically. In Vietnam power sector, Marubeni has been involved in the construction and operation of a total of 12 thermal projects since the 1970s and started a business to supply renewable energy to commercial and industrial customers in 2021.

VinES is a transformative clean energy solution provider and the only BESS manufacturer in Vietnam. Prior to the partnership with Marubeni, VinES also joined forces with Altinay Elektromobilite - a Turkish energy company - to provide comprehensive energy storage solutions to the Turkish energy market.

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About Vingroup

Established in 1993, Vingroup is one of the leading private conglomerates in the region and currently focuses on three main areas: Technology and Industry, Services and Social Enterprise. Find out more at: https://www.vingroup.net/en.

About VinES

VinES Energy Solutions, a member of Vingroup, specializes in researching, developing, and manufacturing advanced lithium ion batteries for mobility and energy storage applications. Its battery cell, module and pack R&D and manufacturing capabilities ensure the delivery of advanced battery that meet the safety and quality standards required for EV/ESS and other energy application applications. In addition, VinES has established partnerships with some of the world's leading battery technology companies to provide full coverage as a transformative energy solution provider. Learn more at https://vines.net.vn/.

About Marubeni

Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, ICT business & logistics, food, agri business, forest products, chemicals, metals & mineral resources, energy, power, infrastructure project, aerospace & ship, finance, leasing & real estate business, construction, industrial machinery & mobility, next generation business development and next generation corporate development. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries. Learn more at: https://www.Marubeni.com/en/.

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