IPE Group Limited — Share Issue/Capital Change 2026

Apr 16, 2026

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.

IPE GROUP LIMITED

國際精密集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 929)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board (the "Board") of the directors (the "Director(s)") of IPE Group Limited (the "Company") announces that on 16 April 2026, the Company offered to grant 54,200,000 share options (the "Share Options") to certain eligible participants (the "Grantees") under the share option scheme of the Company adopted on 14 January 2022, to subscribe for a total of 54,200,000 ordinary shares of HK$0.10 each of the Company (the "Shares"). Details of the Share Options are set out below:

Date of offer : 16 April 2026

Date of grant : When the Company receives the acceptance of offer from the Grantees

Exercise price of the Share Options : HK$0.59 per Share, representing the highest of the following:

(i) the closing price of HK$0.58 per Share as set out in the Daily Quotation Sheet of the Stock Exchange on the offer date;

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(ii) the average closing price of HK$0.59 per Share as set out in the Daily Quotation Sheet of the Stock Exchange for the five business days immediately preceding the offer date; and

(iii) HK$0.10 per share, being the par value of the Share

Closing market price of the Shares on the date of offer of Share Options : HK$0.58 per Share

Number of Share Options offered : 54,200,000 Share Options, which will be vested by the Grantees in three tranches

The validity period of the Share Options : From the date of grant to 15 April 2031 (both days inclusive)

Vesting timetable of the Share Options : (i) First Tranche of 5,000,000 Share Options

The period from 16 October 2027 to 15 April 2031 (both days inclusive) during which they could be vested and become exercisable

(ii) Second Tranche of 5,000,000 Share Options

The period from 16 April 2028 to 15 April 2031 (both days inclusive) during which they could be vested and become exercisable

(iii) Third Tranche of 44,200,000 Share Options

The period from 16 April 2029 to 15 April 2031 (both days inclusive) during which they could be vested and become exercisable

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Performance target

: There is no performance target attached to the Share Options granted. The purpose of the 2022 Share Option Scheme is to recognise and acknowledge the contributions that the eligible participants have made or may make to the Group, and to motivate the eligible participants to optimise their performance and efficiency for the benefit of the Group, as well as to attract and retain the eligible participants whose contributions are, will or are expected to be beneficial to the Group. The number of Share Options to be granted is based on the work performance and potential contributions of the Grantee and no additional performance target is imposed before the Share Options are vested to the Grantee. Further, the vesting period of the Share Options can safeguard the interest of the Group to allow the Group to retain the relevant employee to make contributions to the Group. In view of the above, the remuneration committee of the Company considered the grant of Share Options aligned with the purpose of the 2022 Share Option Scheme.

Clawback mechanism

: All Share Options are subject to clawback mechanism as already set out in the existing terms of the 2022 Share Option Scheme. Under the terms of the 2022 Share Option Scheme, if a Grantee ceases to be an eligible participant of the Group by reason of the termination of his relationship with the Group as a result of the Grantee (i) being guilty of serious misconduct; (ii) having committed an act of bankruptcy or has become insolvent or has made any arrangements or composition with his or her creditors generally; (iii) having been convicted of any criminal offence involving his or her integrity or honesty; or (iv) on any other ground as determined by the Board that would warrant the termination of his employment at common law or pursuant to any applicable laws or under the service contract between the Grantee and the Group, any unexercised share option held by such Grantee shall lapse on the date of cessation and not be exercisable.

Financial support

: The Group has not provided any financial assistance to the Grantee to facilitate the purchase of Shares under the 2022 Share Option Scheme.

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Among those of the 54,200,000 Share Options granted, 2,000,000 were granted to the following chief executives, allocated as follows:

Name	Position	Number of Share Options granted	Percentage of the total number of Shares issued
Tam Yiu Chung	Chief Financial Officer	1,000,000	0.09
Lau Siu Chung	Chief Operating Officer	1,000,000	0.09

The remaining 52,200,000 Share Options have been granted to the employees of the Group. To the best of the Directors' knowledge, information and belief having made all reasonable enquiry, as of the date of this announcement, save as disclosed above, the Grantee is not (i) a director, chief executive or substantial shareholder of the Company or an associate (as defined under the Listing Rules) of any of them; (ii) a participant with Share Options granted and to be granted exceeding the 1% individual limit under the Listing Rules; or (iii) a related entity participant or a service provider (as defined under the Listing Rules) of the Company. The above grant would not result in the share options granted and to be granted to the Grantee in the 12-month period up to and including the date of such grant in aggregate to exceed 1% of the Shares in issue. The Grant of Options is not subject to approval by the Shareholders.

NUMBER OF SHARES AVAILABLE FOR FUTURE GRANT

The maximum number of Shares in respect of which share options may be granted under the 2022 Share Option Scheme shall not exceed 10% of the issued share capital of the Company as of the date of adoption of the 2022 Share Option Scheme, being 105,225,413 Shares. Immediately upon completion of the Grant of Options, the number of options which can further be granted pursuant to the 2022 Share Option Scheme is 25,413.

On behalf of the Board

IPE Group Limited

Tam Yiu Chung

Company Secretary

Hong Kong, 16 April 2026

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Zeng Guangsheng (Chairman and Chief Executive Officer) and Mr. Ng Hoi Ping; two non-executive Directors, namely, Ms. Zeng Jing and Mr. Chen Kuangguo; and three independent non-executive Directors, namely, Mr. Yang Rusheng, Mr. Cheung Chun Yue, Anthony and Mr. Zhu Jianbiao.