MANILA, PHILIPPINES - 30 July 2025 - V-Green Global Charging Station Development Corporation (V-Green) and Green and Smart Mobility Joint Stock Company (Green GSM Philippines) have announced the signing of a Memorandum of Understanding (MOU) with Manila Electric Company (MERALCO) - the largest power distribution company in the Philippines.

This milestone marks a significant step forward in the efforts to promote green transportation and develop the electric vehicle (EV) ecosystem in the Philippines.

Under the MOU, the three parties will closely collaborate on researching and implementing solutions to accelerate EV adoption in the country, primarily through the deployment of electric taxi services and the development of a public charging station network.

Specifically, the parties will jointly identify and evaluate potential locations for charging stations and taxi hubs, support the efficient and sustainable roll-out of charging networks, and explore opportunities to scale up the electric vehicle adoption in major urban areas such as Metro Manila and other key cities.

In addition, the MOU outlines potential areas of cooperation such as co-developing solar energy solutions for EV charging stations, sharing technical expertise in EV technologies, and providing workforce training.

Mr. Nguyen Thanh Duong - CEO of V-Green - stated: "We believe this partnership between V-Green, MERALCO, and Green GSM will create meaningful and positive change in the Philippines' urban transportation landscape. Expanding a comprehensive charging network powered by renewable energy will not only accelerate the green transition but also improve quality of life for Filipino citizens."

Mr. Dao Quy Phi - CEO of Green GSM Philippines - shared: "Public access to clean, safe, and environmentally friendly mobility is heavily dependent on robust infrastructure. We believe this collaboration with MERALCO and V-Green will unlock significant growth opportunities for the electric taxi industry in the Philippines."

Manuel V. Pangilinan, Chairman and CEO of MERALCO, added: "This partnership brings together our collective strength in infrastructure, technology, and experience that will redefine our cities and our communities. Together, we intend to reframe the way we think about energy, transport and sustainability."

V-Green is a pioneering green infrastructure provider, committed to developing a smart, convenient, and seamlessly integrated EV charging network. In Vietnam, V-Green serves as the exclusive charging infrastructure partner for VinFast electric vehicles, playing a key role in the company's rapid ascent to becoming the market leader in the domestic EV sector. Green GSM, meanwhile, is an innovative electric ride-hailing platform that operates a fleet powered entirely by VinFast EVs, with a mission to make green transportation accessible to all while elevating the standard of safe, reliable, and high-quality mobility services.

In the Philippines, VinFast, V-Green, and Green GSM are collectively building a holistic electric mobility ecosystem-spanning EV distribution, charging infrastructure development, and electric taxi operations. This collaborative model is poised to deliver meaningful benefits to the public, from cost-effective mobility to safer and seamless travel experiences, while laying a strong foundation for the country's transition to a greener future.

The issuer is solely responsible for the content of this announcement.

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