Xtep adjusts conversion prices for 2021, 2024 and 2026 convertible bonds after HK$0.095 final dividend

Bulletin Express06-30

Xtep International Holdings Limited (Xtep) has reduced the conversion prices of its three outstanding Hong Kong-dollar denominated convertible bond (CB) tranches following the declaration of a HK$0.095 per-share final dividend for FY2025. The revisions, effective 30 June 2026, were triggered by anti-dilution clauses linked to cash distributions.

Key adjustments 1. 2021 Convertible Bonds • Conversion price cut to HK$7.7882 from HK$7.9385. • Outstanding principal: HK$544.53 million (including PIK interest). • Shares on full conversion: 69.92 million; maximum potential shares (incl. future PIK interest) lifted to 71.50 million, adding 1.35 million new shares under the 2021 General Mandate.

2. 2024 Convertible Bonds • Conversion price reduced to HK$5.1332 from HK$5.2323. • Outstanding principal: HK$526.83 million (including PIK interest). • Shares on full conversion: 102.63 million; maximum potential shares (incl. future PIK interest) rise to 120.06 million, creating 2.27 million additional shares under the 2024 General Mandate.

3. 2026 Convertible Bonds • Conversion price lowered to HK$6.25 from HK$6.37. • Outstanding principal: HK$500.00 million. • Shares on full conversion increase to 80.00 million from 78.49 million, implying 1.51 million additional shares to be issued under the 2025 General Mandate.

All other terms and conditions of the respective CB issues remain unchanged. Xtep will apply to the Hong Kong Stock Exchange for listing and dealing permission for the aggregate 5.13 million additional shares arising from the conversion price adjustments.

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