Shanghai Huace Navigation Technology Co., Ltd.
Announcement on Granting Restricted Stock to Incentive Recipients
The company and all members of the board of directors guarantee the content of the information disclosure is true, accurate, and complete, and there are no false records, misleading statements, or major omissions.
Key Information Prompt:
● Restricted stock grant date: August 13, 2026
● Number of restricted shares to be granted: 582,000 shares, accounting for approximately 0.0733% of the company's total share capital.
● Restricted stock grant price: RMB 26.63 per share
● Equity incentive method: Class II restricted shares
The conditions for granting restricted shares under the "Shanghai Huace Navigation Technology Co., Ltd. 2025 Third Phase Restricted Stock Incentive Plan (Draft)" (hereinafter referred to as the "Incentive Plan (Draft)" or "this Incentive Plan") have been met. Pursuant to the authorization of the company's fourth extraordinary general meeting of shareholders in 2025, the fourth meeting of the fourth board of directors held on August 13, 2026, deliberated and approved the proposal on "Granting Restricted Shares to Incentive Recipients." The grant date was set as August 13, 2026. A total of 582,000 restricted shares were granted to 82 incentive recipients at a price of RMB 26.63 per share. The remaining 1,418,000 ungranted restricted shares will not be granted in the future. The relevant matters are hereby explained as follows:
I. Brief Introduction to the Incentive Plan (Draft Contents)
(I) Incentive Tool: Class II restricted shares
(II) Source of Underlying Shares: The company will issue ordinary shares of Class A to incentive recipients.
(III) Initial Grant Price: RMB 27.08 per share
(IV) Incentive Recipients and Allocation Details:
The total number of incentive recipients for the initial grant of restricted shares under this Incentive Plan is 1,082 people², including directors, senior management, and key personnel employed by the company (including its holding subsidiaries, hereinafter referred to as "the Company") at the time of the announcement of this Incentive Plan.
The allocation of restricted shares for the initial grant under this Incentive Plan among the incentive recipients is as follows:
| Seq. | Name | Nationality | Position | Number of Restricted Shares Granted (10,000 shares) | Proportion of Total Restricted Shares Granted | Proportion of Company's Total Share Capital at the Time of Announcement of this Incentive Plan |
|---|---|---|---|---|---|---|
| 1 | YUAN BENYIN | China | Director, Deputy General Manager | 9.0000 | 0.4500% | 0.0115% |
| 2 | SHEN LIMING | China | Employee Director | 5.5000 | 0.2750% | 0.0070% |
| 3 | SUN MENGTING | China | Deputy General Manager, Secretary of the Board | 4.0000 | 0.2000% | 0.0051% |
| 4 | JIANG CHUNSHENG | China | Deputy General Manager | 7.5000 | 0.3750% | 0.0096% |
| 5 | GAO ZHANWU³ | China | Chief Financial Officer | 5.5000 | 0.2750% | 0.0070% |
| 6 | LEEDAVID HEETAE | South Korea | Core Backbone | 0.8700 | 0.0435% | 0.0011% |
| 7 | ZÁVORSZKY DÁNIEL | Hungary | Core Backbone | 0.5600 | 0.0280% | 0.0007% |
| 8 | MERT OKUMUS | Hungary | Core Backbone | 0.9800 | 0.0490% | 0.0012% |
| 9 | HIRENKUMAR GHANSHYAMB HAI GAJJAR | India | Core Backbone | 0.8200 | 0.0410% | 0.0010% |
| 10 | AHMED FAWZY FRAIGE ELBARBARY | Egypt | Core Backbone | 0.5000 | 0.0250% | 0.0006% |
| Core Backbone (1,072 people) | 1,764.7700 | 88.2385% | 2.2475% | |||
| Total Initial Grant (1,082 people) | 1,800.00 | 90.00% | 2.2924% | |||
| Reserved Portion | 200.00⁴ | 10.00% | 0.2547% | |||
| Total | 2,000.00 | 100.00% | 2.5471% |