(Hanoi, 26.03.2026) The PAN Group Joint Stock Company (“The PAN Group”, HOSE: PAN) has announced the completion of its divestment in Bibica Joint Stock Company through the transfer of its entire equity interest in Bibica Capital Co., Ltd. to Momogi Group VN Co., Ltd., a member of Momogi Group.

Bibica Capital currently holds a 99.13% stake in Bibica Joint Stock Company. Upon completion of the transaction, Bibica and Bibica Capital are no longer subsidiaries of The PAN Group.

 

Bibica – A brand preserved to continue growing

Since the beginning of its investment, The PAN Group did not consider Bibica merely as a financial investment. Bibica is a long-standing Vietnamese food/confectionary brand, deeply embedded in the memories and consumption habits of generations of Vietnamese consumers - and it is precisely this legacy that PAN has sought to preserve, nurture, and develop over the long term.

Throughout the journey, PAN consistently pursued a clear strategic direction: maintaining Bibica’s brand identity and market positioning, while strengthening its governance, enhancing operation capacity, investing in production, innovating its product portfolio, and expanding market reach.

In 2025, Bibica recorded pre-tax profit of VND 160 billion, up 20% year-on-year and the highest level in its history - a testament to the company’s steadily strengthened fundamentals over the years.

Momogi Group - A new strategic partner to bring the next growth phase

After years of repositioning and operational enhancement, Bibica has entered a new phase with a stronger operational foundation, clearer brand identity, and greater growth potential. This also marks the point at which The PAN Group proactively sought a partner capable of continuing this journey - not only preserving the values built over time, but also enabling Bibica to advance further in the confectionery and food industry.

The most important criteria in PAN’s partner selection process is a strong commitment to develop Bibica as an independent brand with a distinct identity and long-term growth trajectory. Momogi Group, backed by PT. Sari Murni Abadi, meets this direction through its deep industry expertise, brand-building capabilities with robust ambition and ability to expand not just locally but also regionally and globally.

With the trust shared between The PAN Group, Momogi Group and Bibica, we believes this transition will open a new chapter for Bibica: maintaining its concrete foundation as a trusted Vietnamese brand while gaining the capacity to gradually expand its presence across regional and international markets.

Management commentary

Ms. Nguyen Thi Tra My, Chief Executive Officer of The PAN Group, shared:

“Bibica is a brand that has been closely associated with generations of Vietnamese consumers, and that is why PAN has always approached it with a deep sense of respect. We believe that transferring Bibica to the right partner is not an ending, but a necessary continuation - enabling the company to enter a broader and longer phase of development. Momogi Group is a partner we trust to preserve and further enhance the values that have defined Bibica.”

Ms. Njoo Servin - Group CFO of Momogi Group/ Director of Momogi Group VN, stated:

“Bibica is more than just a brand - it has been part of everyday life for many Vietnamese families. We see strong potential to grow Bibica beyond Vietnam. Together with Momogi Group, we aim to bring its trusted products to more markets and build it into a strong regional brand, while keeping what people love about it”.

[Post-transaction strategy]

The PAN Group: Reallocation of capital toward core strategy

This transaction reflects The PAN Group’s consistent investment philosophy: partnering with businesses during their foundational stages, supporting them in strengthening competitiveness and long-term value, and subsequently transferring ownership to suitable partners as they enter a new growth cycle.

The capital unlocked from this transaction will be redeployed to strengthen and accelerate growth in The PAN Group’s two core sectors: agriculture and food.

Momogi Group: Unlocking synergies and expanding market presence

Together, we will focus on unlocking synergies between Momogi and Bibica by combining complementary product portfolios and capabilities across snacks and confectionery. We plan to integrate our production and distribution networks across Indonesia and Vietnam, collaborate closely on R&D to drive innovation, and leverage our combined strengths to expand into new markets. This partnership will help accelerate growth in Vietnam while strengthening our presence across Southeast Asia and beyond.

About The PAN Group The PAN Group is one of Vietnam’s leading agriculture and food conglomerates, operating under an integrated Farm – Food – Family value chain strategy. The Group maintains a strong portfolio of companies across seeds, agriculture, aquaculture, and food processing. About Momogi Group Momogi Group is one of Indonesia’s leading snack manufacturers and distributors. The Group has built a strong portfolio of brands across snack and food categories, supported by nationwide distribution and multi-channel market access. With a focus on innovation, quality, and scalability, Momogi Group continues to expand its presence and strengthen its position in the regional consumer market.