According to the Board resolution dated December 09, 2020, the Board of Directors of Phat Dat Real Estate Development Corp approved the following issues:

1. Phat Dat Real Estate Development Corp will not contribute capital by the value of land-use right of 17 lots of land of Apartment Building in Area 4, Nhon Hoi Ecotourism Urban Area (worth 386,100,000,000 dongs) to Nhon Binh Land Joint Stock Company with the charter capital of 390,000,000,000 dongs. Besides, Phat Dat Real Estate Development Corp will not be a founding shareholder at Nhon Binh Land Joint Stock Company and Nhon Binh Land Joint Stock Company will be no longer a subsidiary of Phat Dat Real Estate Development Corp.
2. Phat Dat Real Estate Development Corp will not contribute capital by the value of land-use right of land of Hotel in Area 4, Nhon Hoi Ecotourism Urban Area (worth 15,000,000,000 dongs) and cash (worth 84,000,000,000 dongs) with the total value of 99,000,000,000 dongs to Nhon Hoi Tourist Area and Hotel Joint Stock Company (hereinafter “Nhon Hoi Company”) with the charter capital of 100,000,000,000 dongs. Besides, Phat Dat Real Estate Development Corp will not be a founding shareholder at Nhon Hoi Company and Nhon Hoi Company will be no longer a subsidiary of Phat Dat Real Estate Development Corp.