VinFast Auto (VFS) Announces Standby Equity Subscription Agreement Of Up To $1.0 Billion With Yorkville Advisors

VinFast Auto Ltd. (the "Company" or "VinFast") (NASDAQ: VFS) today announced that it has entered into a standby equity subscription agreement ("Subscription Agreement") with YA II PN, Ltd. ("Yorkville").

Subscription Agreement Highlights:

• VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion of ordinary shares in VinFast at any time during the term of the Subscription Agreement, subject to certain conditions and limitations
• The Subscription Agreement has a term of 36 months

Mr. David Mansfield, CFO of VinFast, said: "This new source of equity funding provides us with valuable optionality and access to capital to continue to expand our business on a global scale. While we are under no obligation to draw on the full amount, the transaction aligns with our goals of opportunistic capital raising while adding liquidity to our shares over time. In addition to existing funding commitments, it provides financial flexibility to fund our growth. We will continue to evaluate other capital markets transactions and sources of fundraising as VinFast continues to grow."

Mark Angelo, Founder and President of Yorkville, commented: "VinFast is a true leader in EVs. We are excited for this opportunity to be a part of VinFast's growth and development, and we look forward to seeing VinFast's continued success in the EV market. We couldn't be prouder of our partnership with VinFast in its mission for a greener future."

In April 2023, our Chairman, Mr. Pham Nhat Vuong, Vingroup Joint Stock Company ("Vingroup") and VinFast entered into a capital funding agreement, under which VinFast would receive grants of up to VND24,000 billion (~$1 billion) from Mr. Vuong, as well as up to VND12,000 billion (~$500 million) in non-refundable grants and up to VND24,000 billion (~$1 billion) in loans from Vingroup, in order to support VinFast's growth and global expansion plans.

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