PVD Offshore

November 26^th 2001, which then became the memorable day among Vietnam drillers, marked the founding of PetroVietnam Drilling and Well Services Corporation (PV Drilling).

Through 20 years of development, PV Drilling has asserted itself as one of the young and notable drilling contractors in the market. Along with the growth journey of our company, our culture has rooted and evolved. We are very proud to have got a very dedicated, passionate and talented team since the early days when we were still a small company.

The accomplishments that we have achieved so far have led us to identifying "People, Integrity, Professionalism" as our core values. These values have played the key role in shaping our company culture. Safeguarding and promoting our company culture is the responsibility of all PV Drilling employees so that we can contribute our part in achieving more challenging business goals on our journey to sustainable future.

I. VISION AND MISSION

🔭

Vision

To be an internationally reputable and reliable drilling contractor and drilling-related services provider in the oil and gas industry.

✊

Mission

Becoming a leading regional drilling services provider and drilling contractor, creating great value added for clients by delivering premium services at competitive prices.

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Slogan

PV Drilling – The pioneer of Vietnam Drillers.

II. CORE VALUES

– People
– Integrity
– Professionalism

Our core values are the fundamental guiding beliefs that shape behaviors and actions throughout the Company.

1

People

At PV Drilling, people are always at the center of all business activities. We believe that all good business outcomes can be achieved through the people-centered philosophy. In order to live this value, all PV Drilling employees need to uphold to the following:

Collaboration: Being committed to and responsible for the team targets; cooperate with other team members in order to achieve the common goals. Develop and nurture positive relationships internally and externally.

Inspiration: Show leadership in achieving company's business objectives. Always create the supporting environment and open communication. Build engagement; persuade and motivate others to accomplish common goals.

Safety orientedness: Always think and act on the principle: "Zero harm to people, environment and assets".

2

Integrity

Honest: Always behave sincerely and honestly. Present the truth, even though it may instill debates, reasonably and transparently. Admit mistakes and never promise what can not be delivered.

Responsibility: Take responsibilities with yourself, colleagues, company and communities. Be responsible for the assigned duties and never take the credit for what belongs to others.

Act on the mutual benefits: Always think of personal benefits as part of the team's or organization's and act for the sake of mutual benefits. Prevent the personal benefits from jeopardizing that of the team or organization.

3

Professionalism

Continuous learning and innovation: Being proactive in learning all the time. Learn from both successes and failures. Apply the learnt knowledge, skills and attitudes to the work so that we can deliver value added products and services to the customers.

Result Orientedness: Grasp new opportunities and challenges with energetic and positive attitude in order to complete the work even in the most difficult situations.

Resource optimization: Optimize the resources in conducting our business in order to safeguard the benefits of customers and investors.

III. CORE PRINCIPLES

1

Solidarity

Solidarity is strength. To exercise solidarity is to respect, understand, share and act on the mutual goals. Each PV Drilling's employee is responsible for safeguarding the solidarity. To live by this principle, we shall:

Respect differences in perspectives and ideas. Exchange information, support and cooperate with each other to complete the work.
Act on the mutual goals. Consider yourself part of the team in order to act with synergy and harmony with the team. Help and support colleagues.
Manage by systems and procedures. Assign duties and responsibilities clearly. Timely address conflicts according to ethical norms and policies.

2

Discipline

Being disciplined is to abide by laws and regulations; ethical norms; company policies and procedures and other assigned duties in a fair and transparent manner. To live by this principle, we shall:

Abide by the laws and regulations, policies and procedures of the Group and Corporation. Appropriately exercise the power as per authority, duties and procedures.
Take responsibility for the assigned duties. Complete the work timely and with quality. Participate fully and seriously in meetings, training courses and events as required.
Lead by examples. Take responsibility for observing, preventing and reporting misconducts and concerns to the appropriate person in charge in a timely manner.

3

Innovation

Innovation is the creation of new ways of working that generates better results and efficiency. To live by this principle, we shall:

Continuously create and innovate our management systems, procedures and work methods.
Build and develop the environment and systems in a way that it maximizes the creativity and innovation of individuals.
Encourage, acknowledge and reward those whose innovations help improve quality, efficiency and effectiveness of an individual or a department or the Company.

4

Effectiveness

Being effective is to achieve the optimal results in the present and at the same time creating the condition for achieving better results in the future. To live by this principle, we shall:

Exercise thorough thinking and risk anticipation. Planning and managing of our work, professionally.
Optimize resources (manpower, capital, assets, time, technology, information, etc.) in order to increase management efficiency and effectiveness. Avoid wasting the Company's resources.
Know the work objectives and KPIs. Practice skillfully work methods and habits that help with improving personal performance as well as that of the Company. Always aim for the highest effectiveness and strive for breakthrough results.

IV. CODE OF CONDUCT

Apart from complying with the laws, regulations and policies of Vietnam, PetroVietnam and PV Drilling, there are ethical principles and norms (including both expected and prohibited behaviors and action) under PV Drilling Code of Conduct (the Code) that need to be complied with regarding various individual and working relationships. We need to refer to the PV Drilling's Code of Conduct for further details and contents.

1

General rules and norms

It is the responsibility of each PV Drilling's employee to read, understand and comply with the Code as well as to stop and report non-compliant behaviors. We have the responsibility to inform our customers, suppliers and business partners of our Code and, whenever needed, help them understand, respect and behave in accordance with our Code.
PV Drilling does not tolerate any forms of retaliation in order to ensure that each individual person has the right to speak up in protection of the Company's core values.
PV Drilling shall take necessary disciplinary actions, including dismissal or legal actions, against violations of the Code.

2

Our company

Non-discrimination: We neither tolerate nor accept any forms of discrimination against anyone in such activities as recruitment, training, promotion, compensation or any other activities related to career and employment opportunities. Personnel related actions and decisions must not be made based on such factors as ethnicity, skin color, nationality, religion, gender, hobby or any other characteristics protected by applicable law.
Anti-harassment: PV Drilling ensures that behaviors of our employees do not cause insult or disrespect to anyone. We comply with law and regulations on anti-harassment of Vietnam and of our host countries.
Anti-corruption: We abide by the policies on anti-corruption of PV Drilling as well as applicable law of Vietnam and host countries where we do our business.
Confidentiality and company's assets: We are responsible for taking great care to protect and use the Company's assets and confidential information in accordance with applicable law and policies. We shall not use confidential information for personal purposes.

3

Our customers and business partners

Fair competition: We compete fairly based on price and quality of our products and services and speak truthfully about them. We shall not enter into any arrangements or agreements with our competitors on topics relating to product and service price, bid rigging or coordination, allocation of sales territory or sources of supply or any other forms of agreements or activities that limit fair competition.
Quality products and services: We are committed to supplying quality products and services in accordance with our commitments with customers and PV Drilling's Quality Management System.
Our suppliers: We evaluate and select suppliers according to the company's criteria. Such suppliers shall be requested to understand our Code and applicable policies on anti-corruption and conduct the business with integrity.
Act in the best interests of PV Drilling: We are responsible for acting in the best interests of PV Drilling or we shall disclose the situation to the direct manager or Compliance officer for instructions in case of a conflict of interests.
Gifts and entertainment: Exchanging gifts or offering entertainment in special occasions can be accepted in certain places around the world. However, these activities may either prevent us from acting in the best interests of PV Drilling or jeopardize PV Drilling's prestige or become illegal. Exchanging gifts and entertainment offering must be done in compliance with PV Drilling's applicable policies and applicable law.

4

Our shareholders

Ensuring accurate records: Inaccurate records can jeopardize PV Drilling competitive advantage and may incur legal risks. We must record and store information clearly, accurately and completely in accordance with PV Drilling's policies and applicable law. Original records must be accurately entered. Never in any way estimate or alter records.
Internal information and securities trading: We are responsible for publicizing information related to our business management and operations timely, accurately, fairly and completely by means of media as required by applicable law. We must keep such information confidential and not use it for personal benefits or that of others before it is officially published. During the course of our employment with PV Drilling, we may be in possession of other companies' unpublished internal information for which we are also responsible and we shall not trade securities based on such information.

5

Our community

We conduct our business responsibly through assessing the impact on the society, economy and environment of our activities, products and services. We are committed to causing no harm to the quality of life of the communities where we work. We always take care and share the responsibility with the communities through social and charitable activities and programs.

V. BUSINESS ETIQUETTE

1. Communication etiquette

In order to build a professional image in communication, we need to ensure: Communicate politely, openly and friendly. Use suitable language in case people involved in the communication include foreigners. Make the messages short and clear. Listen sincerely to ideas and feedback, including contradicting ones, of colleagues and business partners and quickly resolve, explain or respond to their enquiries or recommendations.

🤝 FACE TO FACE COMMUNICATION

Proactively greet our colleagues as we meet them in the workplace or when leaving the workplace in a friendly manner.
Proactively greet and shake hands with business partners diplomatically. Keep the body in the upright posture. Maintain eye contact while keeping the handshake reasonably tight. Wait for the opposite person to approach for handshake first if the person is either in higher position or older or a female. Shake hands with the oldest and most senior first.
Proactively make the introductions of our people to the business partners in a meeting in a short and formal manner from the most senior person to the junior ones.
Formally hand the business card in a way that the person receiving it can read without the need of turning it. Read the person's name on the card to memorize the name and to show respect.
Listen actively and ask question to clarify. Present ideas in a short, simple and complete manner. Maintain the consistency between body languages, eye contact, intonation and tone of voice in order to ensure the messages are completely communicated without misunderstanding and missing information.

📞 TELEPHONE COMMUNICATION

Adjust the telephone ring loudness to reasonable level so that it does not affect surrounding people.
Introduce yourself after greeting and prior to the conversation. End the call by saying "goodbye" or "thank you".
Speak short, clear and loud enough for the person to hear and avoid annoying surrounding people.
Keep your telephone in silent mode when attending a meeting. Avoid sending or receiving messages or doing personal work during a meeting. Refrain from answering incoming calls. In case of an urgent call, ask for permission to leave the meeting and answer the call short and quick.
Return the missed calls or reply to messages from manager/colleagues/business partners whenever possible.

@ ELECTRONIC COMMUNICATION

Keep the subject of the email message short and clear. If there are too many topics, split them into different emails so that it is easy for the receiver to respond. Avoid combining too many topics in one email.
Make the email short, simple and easy to understand. Present the points clearly and use bullet points or numbering as necessary. Read carefully again the email prior to sending and be mindful of spelling mistakes and abbreviations used. Use opening and closing messages in order to create affection.
Be considerate of who should be the person to receive the email and who should receive the carbon and blind carbon copy of the email. Reply only to the sender and the concerned recipients and avoid replying to all of the people in the email loop if the reply does not mean to provide any further information to them. Reply to an email as soon as possible.
Avoid using company email for such personal purposes as litigation correspondences and communication of inappropriate contents or information.
Comply with confidentiality policy and be mindful with making statements as emails are also considered legitimate evidences.

Avoid posting PV Drilling's unpublished internal information on the social media.
Do not communicate falsified information that may slander or insult other people or organizations; do not impersonate other individuals or organizations in order to spread false information that may jeopardize the rights and benefits of such individuals or organizations.
Behave and act, both in every day life and on the social media, in a way that it aligns with the national and company's culture and ethical norms. Do not use words that may cause repulsion, hostile, violence or discrimination.
Stop or report actions that may cause harm or jeopardize the national, Group or company's interests and those that may violate applicable law, social security, cultural norms, morality and customs.

2. Appearance and manner

Comply with the dress code of the Company. Make sure the office attire is neat and elegant.
Keep a neat and fine hairstyle that is suitable for the job.
Maintain a professional and timely manner.
Observe the queuing culture. Give, as a principle, priority to women, old, senior people and those who are carrying heavy items.
Do not do personal business during office hour; avoid noisy talks and conversations that may annoy or affect surrounding people.

3. Events/social activities

Be present at least 5 minutes prior to a meeting/event. Inform the responsible person in case of arriving late for the event. Follow seating arrangement and the meeting rules established by the chairperson. Listen attentively and show respect. Avoid interrupting others when they are speaking and give a signal for speaking. Do not do personal work while in a meeting.
Participate in social activities with friendly and respectful attitude. Dress and behave appropriately. Refrain from using alcohol drinks and tobacco. Participate enthusiastically and openly in talks and discussions is encouraged.
Participate fully and actively and contribute to the team activities. Participate in contests fairly and honestly without cheating or having deceitful actions with an aim to receive or influence on the decisions on the rewards.
Practice cost effectiveness. Avoid boasting, over-promotion and waste when organizing or participating in team activities.
Do not combine sightseeing trip with charity activities of the team.

PV DRILLINGCULTURE HANDBOOK