China Feihe Limited has issued its 2026 AGM circular detailing five key proposals that will be put to vote on 5 June 2026 in Beijing.

Key agenda items:

1. Director Movements • Four directors—Executive Directors Liu Hua and Cai Fangliang, Non-executive Director Cheung Kwok Wah and Independent Non-executive Director Liu Jinping—will retire by rotation and stand for re-election. • The Nomination Committee confirmed that all candidates, including independent director Liu Jinping, meet the Listing Rules’ independence requirements.

2. Auditor Re-appointment • Ernst & Young is nominated to continue as external auditor for FY 2026 at a fee capped at RMB 7.20 million, subject to shareholder approval.

3. Capital Management Mandates • Share Repurchase: Directors seek authority to buy back up to 10% of the issued shares (excluding treasury shares), equal to 880.77 million shares based on the 8.81 billion shares outstanding as of 21 April 2026. • Treasury Treatment: Repurchased shares may be cancelled or held in treasury, with any future resale of treasury shares to be covered under the proposed issuance mandate. • Share Issuance: A separate mandate would allow directors to issue new or re-issue treasury shares up to 20% of issued capital (about 1.76 billion shares), plus any shares repurchased under the buyback mandate. • Recent Buybacks: Over the six months to 21 April 2026, the company repurchased 257.59 million shares on-market at HK$3.97–4.49, reflecting ongoing balance-sheet management.

4. Dividend Proposal • The Board recommends a final cash dividend of HK$0.1290 per share for FY 2025. Shareholders on the register by 12 June 2026 will be eligible.

5. Key Dates • Shareholder register closure for AGM attendance: 2–5 June 2026. • AGM: 10:00 a.m., 5 June 2026, at the company’s Beijing headquarters. • Register closure for dividend entitlement: 11–12 June 2026.

Board Recommendation The Board believes all proposals—director re-elections, auditor re-appointment, capital mandates and the final dividend—are in shareholders’ best interests and recommends voting in favour at the forthcoming AGM.