CHINA EB LTD has announced that on May 15, 2026, the subscribers, all being wholly-owned subsidiaries of the company, entered into separate strategic investor placement agreements with the fund manager. Each subscriber agreed to subscribe for units of the EPF-EBA REIT as strategic investors. The total number of fund units to be subscribed by the subscribers represents approximately 9.332% of the total REIT fund units to be issued, with a maximum total subscription consideration not exceeding RMB 470 million. The final number of REIT fund units to be subscribed is still subject to the results of the book-building process and the announcement to be issued by the fund manager. The Board believes that participating in the strategic placement will help comply with the mandatory strategic placement requirements applicable to China's public REITs and is conducive to the successful establishment of the REIT. This move demonstrates the company's confidence in the long-term value of the REIT, which is beneficial for enhancing market confidence. Furthermore, despite the current challenges in the real estate market, this initiative enables the company to orderly exit its private real estate fund investments at reasonable valuations, thereby facilitating capital recovery and contributing to financial performance. Additionally, the related assets of the REIT are located in well-established core business districts, comprising commercial properties with stable operational performance and income generation. By participating in the strategic placement, the company is expected to benefit from regular cash distributions during the holding period and realize further value through the sale of REIT fund units after the applicable lock-up period expires, subject to market conditions. The Board further believes that the successful issuance of this commercial public REIT is a significant step in establishing a complete investment cycle for the company's real estate investment segment, supporting the long-term development of its asset management business.