Autostreets Development Limited announced that its board resolved on 5 June 2026 to seek shareholder approval for a new 2026 Share Award Scheme, designed in accordance with Chapter 17 of the Hong Kong Listing Rules.

The scheme aims to provide a flexible incentive platform for employees, related-entity participants and service providers, linking long-term rewards to company performance and strategic goals. Key terms include:

• Scheme Mandate Limit: New shares issuable under all share options and awards, when aggregated with any other share schemes, will be capped at 10 % of the company’s issued share capital on the adoption date, equivalent to 83.27 million shares.

• Service Provider Sublimit: Within the overall mandate, grants to service providers will be limited to 1 % of issued shares, or 8.33 million shares, unless separate shareholder approval is obtained.

• Individual Limit: No non-director participant may receive awards representing more than 1 % of issued shares in any 12-month period without specific shareholder approval. Directors, chief executives and substantial shareholders face stricter 0.1 % thresholds. All director-related grants require approval by independent non-executive directors, with further shareholder approval if the 0.1 % cap is exceeded.

• Scheme Life and Vesting: The scheme will run for up to ten years, terminating earlier only by board decision without affecting vested rights. Awards generally cannot vest within 12 months of grant, except in limited, clearly defined circumstances such as make-whole grants to new hires or grants subject to performance-based vesting.

• Performance Targets and Clawback: The administration committee may impose quantitative or qualitative performance targets. Unvested awards are subject to automatic cancellation upon fraud, serious misconduct, bankruptcy, criminal conviction or material misstatement of financial results.

• Non-Transferability and Ranking: Awards are personal and non-transferable, although Stock Exchange waivers for estate or tax planning vehicles may be sought. Vested shares will rank pari passu with existing shares for voting, dividend and liquidation rights.

• Adjustment Mechanism: Capital structure changes such as rights issues, subdivisions or consolidations will trigger proportionate adjustments to award terms and mandate limits, subject to independent adviser confirmation and compliance with Listing Rules.

Adoption of the scheme is conditional on shareholder approval at the forthcoming annual general meeting and on listing approval for any shares to be issued. A circular detailing the full scheme terms, mandate limits and meeting notice will be dispatched in due course.

The board advises shareholders and potential investors to exercise caution when dealing in Autostreets’ securities pending further announcements.