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FPT

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Dear Valued Shareholders, Customers, Partners, and All FPT Employees,

The world is undergoing profound shifts and unprecedented challenges: wars, energy shortages, inflation, supply chain disruptions and declining stock indices. Businesses, organizations, and even nations are confronting a harsh “new normal,” where stability is no longer a given.

Yet, it is precisely this harsh “new normal” that is unleashing an unprecedented force. We are standing before a “technology tsunami,” at the center of which lies AI. AI’s extraordinary advancement transforms our lives, work, and communication. It also reshapes business operations, organizational governance, and national competition. When war, instability, and technological disruption converge, the pace of global change is accelerating faster than ever before.

In this context, every business, organization, and nation faces a fundamental choice: transform decisively to survive, or risk being left behind.

 

Three critical factors in the AI era

To remain competitive in the AI era, organizations must solve three critical challenges: time, cost, and productivity.

First, time. In a world that evolves daily, even hourly, those who can bring products and services to market faster will prevail.

Second, cost. Technology, particularly AI, is unlocking the potential for significant reductions in development and operational costs. AI can now execute tasks that once required substantial resources and time far more efficiently. According to McKinsey, AI can reduce costs by 20-30% across many processes, while Microsoft reports that AI-powered coding tools can increase productivity by up to 55%.

Finally, labor productivity, the decisive factor. AI enables the automation of an increasing range of knowledge-based tasks, from data analysis and software development to system operations. As a result, productivity gains are no longer incremental but exponential. An interesting example is the modernization of legacy IT systems worldwide, particularly those built on COBOL. Analysts estimate that approximately 300 billion lines of COBOL code still operate globally, processing 70-80% of business transactions. Modernizing these systems is an enormous undertaking that can take years. FPT’s xMainframe, an AI platform, automates the analysis, transformation, and restructuring of these systems, thus cutting manual workload by about 30%.

In short, these three things point to a new truth: Competitive advantage in the AI era no longer comes from scale or experience, but from the ability to adapt and reinvent through technology. To achieve this, organizations must transition to an AI-Native model. This is no longer a strategic option, it is a matter of survival. AI will not merely serve as a supporting tool; it will become the core operational foundation of organizations.

 

FPT’s distinct competitive advantages

During this major period of change, FPT believes it possesses unique competitive advantages that few organizations can match.

First is FPT’s large-scale technology workforce. With tens of thousands of engineers working worldwide, FPT has the capacity to deliver large-scale, multi-year transformation programs for global clients.

Beyond scale, FPT is investing deeply in excellence. With over 54,000 employees across more than 30 countries, including more than 4,000 international experts from 82 nationalities, FPT is steadily building a global, diverse, and highly capable technology workforce, equipped to tackle complex challenges at scale. We have established the Quantum AI & Cybersecurity Institute, aiming to train 100 PhDs, develop 2,000 high-level technology experts, and produce 500 high-value research publications, patents, and valuable intellectual assets. In core technology domains, we target the development of 1,500 Cloud engineers and 200 senior Cloud architects.

FPT is building a global, diverse technology workforce capable of solving complex challenges at scale.

FPT continues to expand training in strategic technology fields such as semiconductor design, quantum technology, cybersecurity, and UAVs, building an increasingly strong and elite workforce for the future. This scale enables FPT to meet current demand and proactively seize multiple opportunities across different markets simultaneously, at a scale few organizations can achieve.

Second is FPT’s global presence across time zones, enabling a 24/7 “follow-the-sun” delivery model. This significantly shortens development and deployment timelines for technology projects. Beyond speed, FPT is making sound investments in large-scale AI capabilities to enhance productivity, expand delivery capacity, and solve complex challenges previously beyond reach. Over the past year, FPT has launched two AI factories in Vietnam and Japan, laying the foundation for large-scale AI solution development and deployment. Within just one year, these facilities have reached approximately 70% utilization, processed over 1.1 trillion tokens, fine-tuned 70 AI models tailored to client needs, and developed 10 large language models under the FPT AI Factory initiative.

Third is FPT’s strategic partnership ecosystem with leading global technology corporations, particularly major service providers such as Microsoft and IBM. These partnerships enable FPT to access the most advanced technologies while delivering comprehensive solutions to clients, from infrastructure and platforms to applications.

Alongside technological advancement, FPT is also driving transformation in education. The Corporation has consistently pioneered the integration of technology and AI into teaching and is transitioning from traditional education models to a “flipped classroom” approach. In this model, learners proactively acquire knowledge in advance, and instructors dedicate classroom time to solving real-world problems. AI acts not only as a tool but also as a personalized learning assistant.

 

Mastering strategic technologies

FPT has established a clear strategic direction: to invest in and master core technologies, positioning itself at the heart of Vietnam’s technology landscape while building sustainable long-term competitive advantages. Starting from 2026, FPT will transition from its former primary identity as a technology services provider to a technology innovation company. This transformation will involve mastering key technologies including AI, Quantum AI & Cybersecurity, UAVs, railway technologies, cybersecurity, and data.

FPT has established a clear strategic direction: to invest in and master core technologies, positioning itself at the heart of Vietnam’s technology landscape while building sustainable long-term competitive advantages.

By developing a comprehensive technology ecosystem and a high-quality workforce, FPT is reinforcing its position as a globally competitive technology company, capable of participating in and leading large-scale technology projects valued from hundreds of millions to billions of USD and becoming a top-tier strategic partner in long-term digital transformation and AI initiatives for governments and major enterprises.

In a rapidly changing world, the road ahead will undoubtedly present many challenges. However, with a pioneering spirit and a firm commitment to innovation, FPT will proactively seize opportunities, contribute to national development, and elevate its position in the global technology market, creating sustainable, long-term value for the Corporation and its shareholders.

Sincerely!