Glorious Sun Enterprises Limited (Glorious Sun) has published an explanatory statement for shareholders ahead of its Annual General Meeting scheduled for 21 May 2026.

Key points of the Repurchase Mandate • Share capital in issue as at 16 April 2026 stood at 1.50 billion shares. • The proposed mandate would authorise on-market repurchases of up to 150.00 million shares, equal to 10% of the issued share capital. • Directors believe selective buy-backs could enhance net asset value and earnings per share, and intend to execute them only when beneficial to shareholders as a whole. • Funding may come from paid-up capital, distributable reserves or fresh equity proceeds, subject to Bermuda law and the company’s Bye-laws. • The board does not expect a full utilisation of the mandate to create material pressure on working capital or gearing relative to the 2025 year-end position. • No shares have been repurchased in the six months preceding 16 April 2026. • Over the 12 months to the Latest Practicable Date, Glorious Sun’s shares traded between HKD 1.14 and HKD 1.42. • Executive directors Dr Charles Yeung and Mr Yeung Chun Fan, together with concert parties, hold 1.11 billion shares (73.73%). Full exercise of the mandate would raise their aggregate interest to approximately 81.92%, still leaving sufficient public float.

Proposed amendments to the Bye-laws • Introduction of provisions permitting physical, hybrid or fully electronic general meetings and electronic voting. • Authorisation for notices and documents to be distributed via electronic means. • Related housekeeping updates, including removal of obsolete provisions on show-of-hands voting and clarification of chairman’s authority in resolving technical issues during electronic meetings.

Board recommendation The directors consider both the Repurchase Mandate and the Bye-law amendments to be in the best interests of the company and its shareholders and recommend that investors vote in favour of the relevant ordinary and special resolutions at the 2026 AGM.