LAC VIET AUCTION PARTNERSHIP COMPANY

Address: No 49 Van Cao St, Lieu Giai, Ba Dinh ward, Ha Noi Tel: 02432115234/0867523488/0912565858

PRESS RELEASE

The wave of Digital Transformation aiming towards a long-term future through promoting, expanding business areas and bringing more value to customers is getting faster and stronger. Since 2023, many experts have predicted that the world's technology trend will explode with the appearance of AI, Metaverse (virtual universe), Web 3.0 (blockchain and NFT). These technological trends will allow every business to take full advantage of their strengths to bring customers smarter, more convenient products and services. In addition to the online auction, which has become the more favorable choice of property owners, investors, and customers, the introduction of the most advanced technologies to improve the publicity and transparency of the system will be a new breakthrough in this field.

Lac Viet Auction Partnership Company is always proud to be a pioneer in online auction activities with licensed software that is qualified and operates effectively and in accordance with the law. Having gained the trust from customers across the country, Lac Viet Auction Partnership Company has achieved certain achievements during the operation of the online auction system. According to preliminary assessment, in the adjacent years (from 2020 to now), Lac Viet has successfully auctioned state (or state-owned) assets with a total value of up to 11,000 billion VND, of which, online auction properties have successfully been sold for more than 2,230 billion VND, and the selling rate is over 25%.

With the innovations of the 4.0 era in society, Lac Viet constantly strives to develop the system, aiming to bring convenience and create true value for customers and businesses. In addition to Vietnam's existing policies such as Resolution 73/2022/QH15 and Decree 39/2023/ND-CP on piloting the auction of license plates for cars, Lac Viet is more determined than ever to build an online auction system that can keep up with the most advanced technologies available in the digital environment.

According to Dr. Le Minh Tuan - Managing Director of C360.MediaMonks in Vietnam, one of the world's leading companies in Digital Transformation, and a strategic partner of Lac Viet - most auction houses in the world and in Vietnam are currently managing and operating online auction platforms based on Web 2.0 technology. Auction results are completely dependent on several individuals who manage the system and the reputation of the auction house. With the movement to the Web 3.0 platform, the right to operate, manage and own the auction is separated from the traditional auction house and given to the community of auction participants. The new generation of auction platform that promotes publicity and transparency, when applied to the sale of state assets, will completely avoid fraudulent transactions and losses, and is expected to save money for the state. In addition, the new generation platform creates a lot of new digital business models and opportunities for all participants.

Through a strategic partnership with MediaMonks, Samsung Southeast Asia's R&D center, and support from the Cardano blockchain community, Lac Viet is launching a brand-new Auction platform based on the latest Web 3.0 technology, such as blockchain (Blockchain), smart contracts, artificial intelligence (AI), Big Data, and Samsung Knox. The new generation of auction platform is not only safe, secure, public,

transparent, personalizing the entire bidding process, but also empowers the right to finalize the auction results to smart contracts, eliminates entirely human factors that can influence the auctions. Customer bidding information and results will be permanently saved on the blockchain, be public and cannot be modified or tampered with.

LAC VIET AUCTION PARTNERSHIP COMPANY

CEO

(Signed)

DO THI HONG HANH