Hong Kong, 9 June 2026—Concord New Energy Group Limited (CONCORD NE) has issued a circular outlining plans to adopt a new share incentive scheme to replace its previous plan, which expired in June 2025 with no outstanding awards.

The proposed Share Scheme would allow the Board to grant share options and share awards to eligible directors, senior managers and employees of the Company and its subsidiaries. The maximum number of new or treasury shares that can be issued or transferred under the scheme, together with any other share-based plans, is capped at 10% of the Company’s issued share capital—equivalent to 786.36 million shares based on the current 7.86 billion shares outstanding.

Key parameters include: • Vesting period: Not less than 12 months, except in limited cases such as make-whole grants to new hires, death, disability or corporate events. • Exercise price: The higher of (i) the closing price on the offer date, (ii) the five-day average closing price preceding the offer date, and (iii) the par value of HK$0.01 per share. • Performance and clawback: The Board (or Remuneration Committee for directors and senior managers) may impose performance conditions and clawback provisions tied to misconduct, material mis-statement of financials or other specified events. • Plan duration: 10 years from the adoption date, unless terminated earlier by shareholders or the Board. • Transfer restrictions: Options and awards are non-transferable without Stock Exchange waiver.

Implementation of the scheme is conditional on approval by shareholders at a Special General Meeting scheduled for 25 June 2026—immediately following the Company’s 2026 Annual General Meeting—and on the Hong Kong Stock Exchange’s approval for listing of any new shares to be issued.

The Board recommends shareholders vote in favour of the proposal, citing the need to attract, motivate and retain talent aligned with long-term corporate objectives.