MEXAN has issued a circular detailing plans to consolidate its share capital and adjust trading parameters, aiming to lift its share price from sub-HK$0.10 levels and broaden its investor base.

Key corporate actions 1. Share consolidation • Basis: Every 50 existing shares of HK$0.02 each will be consolidated into 1 share of HK$1.00. • Issued capital: Will contract from 1,966.39 million shares to approximately 39.33 million shares, while authorised capital remains HK$60.00 million (60.00 million consolidated shares). • Effective date (subject to approval): 6 July 2026. • Fractional shares: Fractions will be aggregated and sold for the company’s benefit; no fractional certificates will be issued.

2. Change in board lot size • Current lot: 40,000 existing shares (value HK$2,600 based on the last trading price of HK$0.065). • Proposed lot: 2,000 consolidated shares. At the implied theoretical price of HK$3.25, each new lot would be valued at about HK$6,500.

Regulatory and shareholder approvals • Special General Meeting (SGM): Scheduled for 11:00 a.m. on 2 July 2026 at Lee Garden One, Hong Kong. • Conditions: (i) Shareholders’ approval at the SGM; (ii) Stock Exchange approval for listing and dealing in consolidated shares; (iii) compliance with all Hong Kong laws and Listing Rules.

Timetable highlights (subject to approvals) • Last day to transfer shares for SGM eligibility: 25 June 2026 (4:30 p.m.). • Register closure: 26 June–2 July 2026. • Commencement of trading in consolidated shares: 9:00 a.m., 6 July 2026. • Re-opening of standard 2,000-share board lot trading counter: 20 July 2026. • Odd-lot matching service via Advent Securities (Hong Kong) Limited: 20 July–7 August 2026. • Final date for free exchange of old share certificates: 11 August 2026.

Operational impact The consolidation will not affect MEXAN’s underlying assets, business operations or shareholder rights other than the elimination of fractional entitlements. The board believes the higher absolute share price post-consolidation will help satisfy Listing Rule 13.64 requirements, reduce excessive trading spreads and attract a wider spectrum of institutional investors.

No directors, chief executives or substantial shareholders are required to abstain from voting at the SGM. MEXAN states it has no current plans for further share capital changes or equity fundraising in the next 12 months.