Chaowei Power Holdings Limited announced that its board granted 24.28 million share options on 23 April 2026 under the company’s 2023 Share Option Scheme, equivalent to about 2.20% of the existing issued share capital (excluding treasury shares).

The options were awarded to directors, senior management and other employees: • Directors and Chief Executive Officer: 1.35 million options (5.56% of the total grant).  – Executive Director, CEO and controlling shareholder Zhou Mingming received 0.20 million options.  – Executive Directors Yang Yunfei and Yang Xinxin each received 0.20 million options.  – Executive Director Ng Chi Kit obtained 0.15 million options.  – Non-executive Director Fang Jianjun was granted 0.20 million options.  – Independent Non-executive Directors Lee Conway Kong Wai, Zhang Fan and Sun Wenping received 0.15 million, 0.15 million and 0.10 million options respectively. • Other employee participants: 22.93 million options.

Key terms • Exercise price: HK$2.00 per share, matching the closing price on the grant date and 5.92% above the five-day average closing price of HK$1.888. • Exercise window: Options are exercisable at any time up to 22 April 2036 (10-year term). • Vesting schedule: 10% on 23 April 2027, 20% on 23 April 2028 and the remaining 70% on 23 April 2029. • Performance conditions: No performance targets for director grantees; employee participants must meet individual annual performance goals. • Claw-back: Options may be rescinded in cases of material financial misstatement or misconduct.

Post-grant headroom Following this issuance, 23.86 million shares remain available for future grants under the scheme mandate limit, while 22.08 million shares remain under the service-provider sub-limit.

Governance The grants to directors were approved by Chaowei Power’s independent non-executive directors in accordance with Hong Kong Listing Rule 17.04(1); affected directors abstained from voting. No financial assistance has been provided to any grantee for exercising the options.