Comba Telecom Systems Holdings Limited — Capital/Financing Update 2023

Sep 15, 2023

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Singapore Exchange Securities Trading 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.

==> picture [121 x 25] intentionally omitted <==

COMBA TELECOM SYSTEMS HOLDINGS LIMITED 京 信 通 信 系 統 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Hong Kong Stock Code: 2342)

(Singapore Stock Code: STC)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rules 17.06A, 17.06B and 17.06C of the Rules Governing the Listing of Securities (the “ Hong Kong Listing Rules ”) on The Stock Exchange of Hong Kong Limited.

The board (the “ Board ”) of directors (the “ Director(s) ”) of Comba Telecom Systems Holdings Limited (the “ Company ”, together with its subsidiaries, collectively, the “ Group ”) hereby announces that on 15 September 2023 (the “ Date of Grant ”), the Company granted 300,000 share options (the “ Share Options ”) to certain eligible employees of the Group (the “ Grantees ”), subject to acceptance of the Grantees, under the share option scheme (the “ Share Option Scheme ”) of the Company adopted on 22 May 2023. The Share Options shall entitle the Grantees to subscribe for a total of 300,000 new ordinary shares (the “ Share(s) ”) of HK$0.10 each in the share capital of the Company. Details of the Share Options granted are set out below:

Date of Grant : 15 September 2023 Number of Share Options granted : 300,000 Exercise price of the : HK$1.116 per Share Share Options granted Closing price of the Shares on : HK$1.110 the Date of Grant

• 1 -

Vesting period and exercise period : Pursuant to the Share Option Scheme, the Share of the Share Options Options shall be vested and become exercisable in four tranches, and the vesting periods of the Share Options are from the Date of Grant until commencement of the exercise periods of the respective tranches as set out below:

• (i) first tranche, being 25% of the Share Options, shall be vested on the date falling the first anniversary of the Date of Grant and exercisable from 15 September 2024 to 14 September 2028, both dates inclusive;

• (ii) second tranche, being 25% of the Share Options, shall be vested on the date falling the second anniversary of the Date of Grant and exercisable from 15 September 2025 to 14 September 2028, both dates inclusive;

• (iii) third tranche, being 25% of the Share Options, shall be vested on the date falling the third anniversary of the Date of Grant and exercisable from 15 September 2026 to 14 September 2028, both dates inclusive; and

• (iv) fourth tranche, being 25% of the Share Options, shall be vested on the date falling the fourth anniversary of the Date of Grant and exercisable from 15 September 2027 to 14 September 2028, both dates inclusive.

Performance targets : There is no performance target attached to the Share Options granted. Clawback mechanism : The Share Options granted are subject to the clawback mechanism as set out in the terms of the Share Option Scheme. Financial assistance : There is no arrangement for the Group to provide financial assistance to the Grantees to facilitate the purchase of Shares under the Share Option Scheme.

• 2 -

To the best knowledge of the Directors, as of the date of this announcement, none of the Grantees is (i) a Director, a chief executive, a substantial shareholder of the Company, or an associate (as defined in the Hong Kong Listing Rules) of any of them; (ii) a participant with options and awards granted and to be granted exceeding the 1% individual limit under Rule 17.03D of the Hong Kong Listing Rules; or (iii) a related entity participant or service provider (as defined in the Hong Kong Listing Rules) with options and awards granted and to be granted in any 12-month period exceeding 0.1% of the issued Shares.

Subsequent to the grant of the Share Options as disclosed in this announcement, the number of Shares available for future grant(s) under the scheme mandate limit is 280,234,466 Shares.

By order of the Board Chang Fei Fu Executive Director

Comba Telecom Systems Holdings Limited

Hong Kong, 15 September 2023

As at the date of this announcement, the Board comprises the following executive Directors: Mr. FOK Tung Ling, Mr. ZHANG Yue Jun, Mr. XU Huijun, Mr. CHANG Fei Fu and Ms. HUO Xinru; the following non-executive Director: Mr. WU Tielong; and the following independent non-executive Directors: Mr. LAU Siu Ki, Kevin, Ms. NG Yi Kum and Ms. WONG Lok Lam.

• 3 -