Thai Nguyen, 22 June 2026 - Masan High-Tech Materials Corporation (UPCOM: MSR, “MSR” or the “Company”) today announced important progress in its strategy to expand exploration and mining areas around the Nui Phao mine. Based on estimates under Vietnam’s National Mineral Master Plan, the Nui Phao Expansion area and Nui Chiem area are estimated to have potential resources of approximately 115 million tons of tungsten-polymetallic ore, creating a foundation for an additional 20-30 years of mining and processing activities. The Company expects to expand its tungsten oxide capacity to more than 8,000 tonnes WO₃ to meet increased customer demand.

“Sixteen years ago, few believed that a mine in Thai Nguyen could become a strategic link in the global high-tech materials supply chain. Today, MSR is no longer simply a mining company. We have built a leading integrated tungsten platform outside of China spanning mining, deep processing and advanced materials supply serving industries that are shaping the future, including AI, semiconductors, aerospace, energy and defense.

The latest progress at Nui Phao Expansion and Nui Chiem not only opens the potential for another 20-30 years of mining and processing, but also strengthens MSR’s long-term strategic position at a time when scaled, deeply processed non-China tungsten supply is increasingly scarce. We are proud that Vietnam’s natural resources can help serve some of the most important industries of the 21st century” said Danny Le, Chairman of Masan High-Tech Materials.

Key Highlights:

• Potential addition of approximately 115 million tons of tungsten-polymetallic ore resources across Nui Phao Expansion and Nui Chiem.
• Potential to sustain mining and processing activity for an additional 20-30 years.
• Lower incremental capital requirements by leveraging existing mining and processing infrastructure, alongside planned tungsten oxide capacity expansion to more than 8,000 tonnes WO₃ to meet increased customer demand.
• Stronger cash generation and deleveraging pathway, supporting MSR’s target to reduce Net Debt/EBITDA to below 1.0x by year end.
• Reinforced position as a leading integrated tungsten platform outside China, spanning mining, deep processing and advanced materials supply.

Pursuant to Vietnam’s National Mineral Master Plan under Decision No. 866/QD-TTg and amended by Decision No. 2581/QĐ-TTg, the Nui Phao Expansion area is estimated to have potential resources of approximately 55.19 million tons of tungsten-polymetallic ore, while Nui Chiem is estimated at approximately 60 million tons. Based on the Company’s current permitted mining capacity of approximately 3.5 million tons of ore per year, this potential resource base could support an additional 20-30 years of mining and processing activity. More importantly, it reframes Nui Phao from an operating mine into a long-life strategic supply platform capable of serving global customers for decades.

The 42.9-hectare Nui Phao Expansion area, located adjacent to the existing Nui Phao mine, achieved a significant regulatory milestone when it was designated as a non-auction area for mineral exploitation rights under Decision No. 1826/QĐ-BNNMT dated 20 May 2026 by the Ministry of Agriculture and Environment. The Nui Phao Expansion exploration proposal is currently under appraisal by the Vietnam Department of Geology and Minerals.

On 10 June 2026, the Ministry of Agriculture and Environment notified that Nui Phao Mining Company Limited, a wholly owned subsidiary of MSR, had been selected as the sole eligible organization to be considered for a mineral exploration license for Nui Chiem. The Nui Chiem area covers approximately 1,000 hectares in Thai Nguyen Province and had previously been designated as a non-auction area for mineral exploitation rights. Together, these steps provide an important basis for MSR to continue exploration, assess resource potential and develop a long-term growth plan.

This is not a greenfield growth story. The Nui Phao Expansion area is adjacent to MSR’s existing mining and processing infrastructure, while prior exploration work at Nui Chiem has generated geological data that provides a more informed basis for further evaluation. Together, these areas allow MSR to leverage existing infrastructure, technology and operating capabilities, supporting a more capital-efficient pathway to expand the resource base with lower incremental capital requirements over time.

Seperately, given increased customer demand for MSR’s refined tungsten products, the Company will be expanding its tungsten oxide capacity to more than 8,000 tonnes WO₃, in line with its current APT capacity, which is expected to not require significant capital. Tungsten oxides are higher value-add forms of tungsten chemicals, enabling the Company to improve its returns for each tungsten unit it processes and offer the required diversified product portfolio in sufficient capacity to meet increasing global tungsten oxide demand.

The combination of potential new resources, existing infrastructure and deep-processing capabilities gives MSR a stronger foundation to generate cash flow, improve its balance sheet and reduce leverage over time. Subject to market conditions and execution progress, this supports the Company’s pathway to reduce Net Debt/EBITDA to below 1.0x by the end of the year. The strategic value of the expansion is therefore not only scale, but higher-quality earnings, stronger cash conversion and greater financial flexibility.

The global backdrop is also moving in MSR’s favor. Tungsten is an essential material for industries such as AI, semiconductors, electric vehicles, aerospace, renewable energy and defense. As countries accelerate efforts to diversify critical mineral supply chains outside China, MSR’s integrated platform - spanning mining, deep processing and advanced materials supply - becomes increasingly strategic. Scaled non-China tungsten supply with deep-processing capability is difficult to replicate, and MSR is one of the few platforms positioned to meet that need.

The expansion of the Nui Phao resources base is aligned with the Government’s orientation to develop Vietnam’s mining sector in a modern and sustainable direction, linking resource extraction with deep processing and higher domestic value-added. Over the past decade, MSR has progressively transformed Vietnam’s natural resources into advanced materials serving global markets. With its existing operating platform and new growth potential, the Company is expected to further strengthen Vietnam’s position in the global strategic materials supply chain and expand MSR’s role in industries shaping the future of the world.