MBS is one of the first entities to issue and create a market for warrants. This includes:

Issuance and Listing:

• Selecting the underlying assets for issuing warrants.

• Defining the terms of the warrants.

• Submitting the issuance application to the State Securities Commission (SSC), and distributing the warrants to investors.

• Submitting registration documents to the Vietnam Securities Depository (VSD) and the listing application for the warrants on the HOSE.

Market Making:

• Determining a reasonable price for the warrants and listing buy/sell prices around this value on the HOSE.

• Ensuring liquidity for warrants on the market.

• Narrowing the bid/ask spread, thereby reducing costs for investors.

Risk Hedging:

• Risk hedging is carried out alongside market making activities to hedge the risk for the warrant portfolio.

• Ensuring that investors’ interests always align with MBS’s interests.

Other Roles:

• Paying the difference to investors when the warrant matures or is delisted before maturity.

• Being responsible for all obligations related to the warrants issued by MBS.

• When issuing warrants, MBS deposits 50% of the issuance value with the depository bank to ensure payment capability for investors.