China Carbon Neutral Development Group Limited — Capital/Financing Update 2021

May 26, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Incorporated in Cayman Islands with limited liability)

(Stock Code: 1372)

ANNOUNCEMENT COMPLETION OF THE SUBSCRIPTION AGREEMENT A

Reference is made to the announcements of China Carbon Neutral Development Group Limited dated 7 March 2021, 1 April 2021 and 9 April 2021 (the “ Announcements ”), in relation to subscriptions of new shares under the General Mandate. Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined the Announcements.

The Board wishes to inform the Shareholders that completion of the subscription under the Subscription Agreement A (the “ Completion ”) took place and 23,760,000 Subscription Shares have been issued and allotted to Mao Yuan Capital Limited (“ Mao Yuan Capital ”) on 26 May 2021.

Shareholding structure of the Company immediately before and after the Completion are as follows:

Youth Force Asia Limited(“Youth Force”) (Note 2)Public shareholdersMao Yuan Capital (Note 1)Z&F (Note 3)Other public shareholdersTotal	Immediately beforethe CompletionShares%147,700,00062.52–16,240,0006.8772,300,00030.60236,240,000100.00	Immediately afterthe CompletionShares%147,700,00056.8123,760,0009.1416,240,0006.2572,300,00027.80260,000,000100.00	Immediately afterthe CompletionShares%147,700,00056.8123,760,0009.1416,240,0006.2572,300,00027.80260,000,000100.00
			100.00

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Notes:

1. The issued capital of Mao Yuan Capital, Subscriber A, which is wholly owned by Mr. Cao Junsheng.

2. The entire issued capital of Youth Force is owned by Mr. Jiang Jianhui.

3. The issued capital of Z&F is owned as to 70% by the Subscriber B and as to 30% by Ms. Fan Xiaomiao, an associate of the Subscriber B. The subscription under Subscription Agreement B has completed on 9 April 2021.

By order of the Board China Carbon Neutral Development Group Limited Gao Gunter Chairman

Hong Kong, 26 May 2021

As at the date of this announcement, the executive Directors are Dr. Gao Gunter, Mr. Chen Xinwei, Dr. Cui Dingjun, Mr. Di Ling, Mr. Chen Lei and Mr. Artem Matyushok; and the independent non-executive Directors are Mr. Ip Mei Shun, Mr. Leung Tsz Wing and Mr. Yu Wai Chun.

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