China Carbon Neutral Development Group Limited (C CARBONNEUTRAL) announced that on 14 May 2026 its board granted a total of 64.29 million share options under the Share Option Scheme adopted on 6 January 2026. The award represents approximately 7.30% of the company’s current issued share capital.

Key terms of the grant • Exercise price: HK$0.966 per share, determined as the higher of (i) the 14 May 2026 closing price of HK$0.94, (ii) the five-day average closing price of HK$0.966, and (iii) the HK$0.01 nominal value. • Exercise window: 14 May 2026 to 13 May 2036. • Vesting: 12-month holding period from the date of grant; exercise subject to performance targets linked to group, business and individual KPIs. • Consideration: HK$1.00 payable upon acceptance; no company-provided financial assistance. • Clawback: No additional mechanism beyond standard lapse and cancellation provisions in the scheme.

Distribution of options • Directors and alternate director: 14.60 million options, allocated to three executive directors, one non-executive director, one alternate director, and two independent non-executive directors. • Other employees (17 individuals): 49.69 million options.

Compliance status The independent non-executive directors approved the grant to directors as required by Rule 17.04(1) of the Hong Kong Listing Rules. Following this grant, the remaining balance under the scheme mandate limit is nil shares.