Pu’er Lancang Ancient Tea Co., Ltd. (Lancang Tea) has executed two term-loan agreements with Agricultural Bank of China Limited on 16 June 2026, securing a combined RMB47.15 million in working-capital financing.

Loan Agreement I provides RMB33.15 million for a three-year tenor. Interest is benchmarked to the Loan Prime Rate (LPR) with a fixed spread, payable monthly. Collateral comprises ten real-estate ownership certificates located in Lancang County, registered between 2018 and 2020.

Loan Agreement II extends RMB14.00 million for the same three-year period, carrying identical interest terms. Security is pledged against 87,732.431 kg of Pu’er tea inventory, including: • 2015 “Shiguangcang” discs – 42,326.277 kg • 2018 “Shiguangcang” discs – 8,096.760 kg • 2019 “Shiguangcang” discs – 15,008.994 kg • 2004 Lancang traditional tea bricks – 22,300.400 kg

Agricultural Bank of China and its ultimate beneficial owners are independent third parties to Lancang Tea. The board, including all independent non-executive directors, assessed the terms as fair, reasonable, and aligned with shareholder interests.