According to the Board resolution dated June 11, 2020, the Board of Directors of Petrovietnam Drilling & Well Service Corporation (short name: PV Drilling) approved contents of mortgage, pledge, guarantee for long-term loan contracts to finance DES Project:

a)      Allowing PVD Tech Company to use the assets formed from DES Project as collateral and to mortgage the rights to receive DES’ insurance money for the long-term loan for DES Project.

b)      Allowing PVD Tech Company to mortgage the income from DES Leasing Contract No.02/2020/PVD-PVDTECH for the long-term loan for DES Project.

c)      Allowing PV Drilling to issue commitments and guarantees to PVD Tech Company for the long-term loan for DES Project.

d)      Allowing PV Drilling and PVD Tech Company to sign the related agreements to carry out the contents above.