Shenzhen Dobot Corp Ltd — Share Issue/Capital Change 2026

Apr 2, 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.

DOBOT

SHENZHEN DOBOT CORP LTD

深圳市越疆科技股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2432)

GRANT OF OPTIONS UNDER THE H SHARE OPTION SCHEME

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

References are made to (i) the announcement and circular (the "Circular") of the Company both dated 15 September 2025; and (ii) the poll results announcement of the Company dated 9 October 2025, in relation to the adoption of the H Share Option Scheme. Unless the context otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

GRANT OF OPTIONS UNDER THE H SHARE OPTION SCHEME

The Board is pleased to announce that on 2 April 2026, the Company granted a total of 2,500,000 Options to 6 Grantees (the "Option Grantees") under the H Share Option Scheme, subject to acceptance by the Option Grantees and the H Share Option Scheme Rules.

A summary of the Options granted is set out below:

Date of grant : 2 April 2026

Number of Option Grantees : 6

Details of Option Grantees : 6 Employee Participants, including 4 Directors

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Number of Options granted : 2,500,000

Number of underlying H Shares pursuant to the Options granted : 2,500,000

Exercise Price of the Options granted : HK$33.34 per H Share

(no less than the highest of (a) the closing price of the H Shares as shown in the daily quotation sheets of the Stock Exchange on the offer date (being a business day), being HK$33.34; (b) the average closing prices of the H Shares as shown in the daily quotation sheets of the Stock Exchange for the five business days immediately preceding the offer date, being HK$33.20; and (c) the nominal value of the H Share).

Closing price of the H Shares on the date of grant : HK$33.34 per H Share

Exercise Period of the Options : The exercise period of the Options shall be three years from the date of vesting.

Vesting period of the Options : The Options granted shall be vested as follow:

Date	Percentage of the Option to be vested
3 April 2027	accounting for 25% of the total Options granted
3 April 2028	accounting for 25% of the total Options granted
3 April 2029	accounting for 25% of the total Options granted
3 April 2030	accounting for 25% of the total Options granted

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Performance target(s) : The vesting of the Options is subject to the assessment targets at two levels: the group level performance and individual level performance.

(i) Group level performance:

The Remuneration Committee and/or the Board or their delegate(s) will evaluate the performance of the Group for the relevant year, and classified into four grades based on the growth in revenue compared with the total revenue for the financial year ended 31 December 2025 ("FY2025").

Vesting period Assessment indicator

3 April 2027 The first vesting period: Performance assessment for the financial year ending 31 December 2026

Group performance grade	A	B	C	D
Percentage growth in revenue compared with FY2025	Above or equal to 40%	Above or equal to 30%	Above or equal to 20%	Below 20%
Vesting percentage	100%	75%	50%	0%

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3 April 2028
The second vesting period: Performance assessment for the financial year ending 31 December 2027

Group performance grade	A	B	C	D
Percentage growth in revenue compared with FY2025	Above or equal to 96%	Above or equal to 69%	Above or equal to 44%	Below 44%
Vesting percentage	100%	75%	50%	0%

Vesting period
Assessment indicator

3 April 2029
The third vesting period: Performance assessment for the financial year ending 31 December 2028

Group performance grade	A	B	C	D
Percentage growth in revenue compared with FY2025	Above or equal to 174.4%	Above or equal to 119.7%	Above or equal to 72.8%	Below 72.8%
Vesting percentage	100%	75%	50%	0%

3 April 2030
The fourth vesting period: Performance assessment for the financial year ending 31 December 2029

Group performance grade	A	B	C	D
Percentage growth in revenue compared with FY2025	Above or equal to 284.16%	Above or equal to 185.61%	Above or equal to 107.36%	Below 107.36%
Vesting percentage	100%	75%	50%	0%

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(ii) Individual level performance:

The Remuneration Committee and/or the Board or their delegate(s) will evaluate the performance metrics of individual participants tied to their respective roles and responsibilities. The indicators for individual performance includes but not limited to sales volume, work quality, efficiency, collaboration, management and strategy, which may vary among the Option Grantees.

Individual performance grade	A	B+	B	C	D
Individual Vesting Percentage	100%	90%	80%	50%	0%

Clawback mechanism : The Options shall be subject to the clawback mechanism as set out in the H Share Option Scheme Rules, in circumstances where it, in the absolute opinion of the Board, may be regarded as inequitable for any Options to be vested or retained and/or (in case such Option has been exercised) the underlying Shares issued and allotted upon exercise of such Option to be held (as the case may be) by any Grantee, including but not limited to where there has been a material misstatement or omission in the financial reports of the Group or if the relevant Grantee has committed any fraud or serious misconduct.

Financial Assistance : The Group has not provided any financial assistance to the Option Grantees to facilitate the purchase of H Shares under the H Share Option Scheme.

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Among the 2,500,000 Options, 2,300,000 Options were granted to 4 Directors, details of which are set as follows:

Option Grantees	Identity	Number of Options granted ('000s)	Percentage (%) of total number of H Shares in issue (excluding the treasury shares)
Mr. Liu Peichao	Chairman of the Board, executive Director and general manager of the Company	1,000	0.25
Mr. Wang Yong	Executive Director, deputy general manager and chief financial officer of the Company	500	0.13
Mr. Jiang Yu	Executive Director, employee representative Director and deputy general manager of the Company	500	0.13
Mr. Lang Xulin	Non-executive Director and chief scientist of the Group	300	0.08
Total		2,300	0.58

REASONS FOR AND BENEFITS OF THE GRANT OF OPTIONS

The purposes of the grant of Options are: (i) to incentivise and reward the Option Grantees for their contributions to the growth and development of the Group; (ii) to attract, retain and motivate them as high-calibre talent to continue to work towards the goal of enhancing the enterprise value and attaining the long-term objectives of the Company; (iii) to further maintain and strengthen long-term relationships that the Option Grantees may have with the Group; and (iv) to align the interest of the Option Grantees and the Shareholders to promote the long-term performance of the Group.

APPROVAL FROM THE INDEPENDENT NON-EXECUTIVE DIRECTORS

The grant of the Options to each of the aforementioned Directors has been reviewed and approved by the independent non-executive Directors in accordance with Rule 17.04(1) of the Listing Rules and the terms of the H Share Option Scheme.

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LISTING RULES IMPLICATIONS

Pursuant to Rule 17.04(3) of the Listing Rules, if the grant of Options to substantial shareholders of the Company or any of their respective associates would result in the Shares in issue and to be issued in respect of all Options granted (excluding any Options lapsed in accordance with the terms of the H Share Option Scheme) to such person during the 12-month period up to and including the date of grant representing in aggregate over 0.1% of the relevant class of Shares in issue, such proposed grant of Options must be approved by the shareholders of the Company in a general meeting in the manner described in Rule 17.04(4) of the Listing Rules.

As the total number of Shares issued and to be issued upon the exercise of the Options proposed to be granted to Mr. Liu Peichao, being the chairman of the Board, an executive Director, general manager of the Company and a substantial shareholder of the Company, would, in a 12-month period up to and including the date of grant, represent over 0.1% of the Shares in issue, the proposed grant of the Options to Mr. Liu Peichao will therefore be subject to the approval by the shareholders of the Company at a general meeting to be convened by the Company, where Mr. Liu Peichao, his associates and all core connected persons (as defined under the Listing Rules) of the Company shall abstain from voting in favour of the relevant resolution at the general meeting pursuant to the Listing Rules.

As at the date of this announcement, to the best knowledge, information and belief of the Directors, save as disclosed above, none of the Option Grantees is (i) a Director, chief executive or substantial shareholder of the Company or their respective associate (as defined in the Listing Rules); or (ii) a participant to whom Shares issued and to be issued under all share options and awards granted or to be granted to him/her during the 12-month period up to and including the date of grant exceed the 1% individual limit of the total number of issued H Shares according to Rule 17.03D of the Listing Rules; or (iii) a Related Entity Participant, or a service provider, to whom share options and awards granted or to be granted within any 12-month period exceed 0.1% of the total number of issued H Shares.

NUMBER OF SHARES AVAILABLE FOR FUTURE GRANTS

As at the date of this announcement, the Company has granted the following Options and Awards under the H Share Option Scheme and the H Share Award Scheme respectively:

(1) on 20 October 2025, the Company granted a total of 612,825 Options to 12 Employee Participants; and

(2) on 3 February 2026, the Company granted (i) a total of 8,638,475 Options to 37 Employee Participants, of which 2,300,000 Options were lapsed; and (ii) a total of 1,531,300 Awards to 80 Employee Participants.

As at the date of this announcement, immediately after the aforesaid grant of Options, the total number of Shares which may be issued in respect of all Options available for future grant under the H Share Option Scheme, all Awards available for future grant under the H Share Award Scheme, and all share options and share awards available for future grant under any other schemes would be no more than 31,346,940 Shares.

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General

A circular containing, among other things, further information in relation to the proposed grant of the Options to Mr. Liu Peichao, together with the notice of the general meeting, will be despatched to the shareholders of the Company in due course.

By order of the Board

SHENZHEN DOBOT CORP LTD

Mr. Liu Peichao

Chairman of the Board, Executive Director

and General Manager

Shenzhen, 2 April 2026

As at the date of this announcement, the Board comprises (i) Mr. Liu Peichao, Mr. Wang Yong and Mr. Jiang Yu as executive Directors; (ii) Mr. Lang Xulin as a non-executive Director; and (iii) Mr. Li Yibin, Mr. Ng Jack Ho Wan and Dr. Hou Lingling as independent non-executive Directors.