Shenzhen Pagoda Industrial (Group) Corporation Limited (Pagoda GP) has approved the issuance of 27.00 million restricted share units (RSUs) to three employees under its H-share RSU Scheme adopted on 30 October 2025.

• Grant structure – Grant date: 29 May 2026 – Beneficiaries: three Group employees (none is a director, supervisor, chief executive, substantial shareholder, related-entity participant, or service provider exceeding regulatory thresholds). – RSUs granted: 27.00 million units, equivalent to 1.35% of Pagoda GP’s current share capital. – Consideration: RMB1.00 per RSU. – Reference price: HK$1.77 per share on the grant date.

• Vesting and performance hurdles All RSUs will vest in a single tranche on 30 April 2029, conditional on Group- and individual-level performance targets tied primarily to annual profit growth, macro and industry conditions, and strategic objectives.

• Claw-back safeguards Unvested awards lapse if a grantee is terminated for misconduct, breaches confidentiality or non-competition obligations, or is involved in material financial misstatements.

• Scheme capacity Following this grant, 4.38 million shares remain available for future awards under the existing mandate limit.

• Strategic rationale Management states that the RSU grant aims to strengthen long-term incentive alignment, attract and retain key talent, and synchronise employee interests with those of shareholders and the company’s long-term strategic development.