Coastal Greenland Limited released its scheduled monthly update under Rule 3.7 of Hong Kong’s Takeovers Code, outlining the latest status of the potential sale of 153.13 million shares and the related shareholder loan (the “Possible Transaction”) to a prospective buyer (the “Offeror”).

Key points:

1. Negotiations status • The Vendor and the Offeror remain in discussions to finalise terms for a formal sale-and-purchase agreement covering the targeted shares and the associated loan. • No binding agreement has been executed as at 12 May 2026.

2. Impact of blackout period • Under the Model Code for Securities Transactions, directors are prohibited from dealing in company shares during the blackout period that began on 1 May 2026 and extends through 30 June 2026. • As a result, negotiations on the Possible Transaction have been halted and will resume only after the blackout period ends.

3. Regulatory framework and next steps • The company will continue issuing monthly updates until either a firm intention to make an offer (Rule 3.5) is announced or the parties decide not to proceed. • Any further developments will be disclosed in accordance with Hong Kong Listing Rules and the Takeovers Code.

4. Cautionary statement • The Board emphasised that there is no certainty the discussions will lead to a mandatory conditional cash offer under Rule 26.1 of the Takeovers Code. • Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities and to seek professional advice if in doubt.

Board composition (as of 12 May 2026): • Executive Directors: Jiang Ming (Chairman), Lin Chen Hsin, Tong Xinhua • Non-executive Directors: Qiu Guizhong, Zhou Xiya • Independent Non-executive Directors: Wong Kai Cheong, Yang Jiangang, Huang Xihua