PAX Global sets 20% share issue and 10% buy-back limits, schedules director re-elections for 20 May AGM

PAX Global Technology Limited has issued its 2026 AGM circular outlining key resolutions for shareholder approval on 20 May 2026 in Hong Kong.

Key mandates • Share Issue Mandate: Directors may allot, issue or transfer up to 212.38 million new or treasury shares, equivalent to 20% of the 1,061.88 million shares in issue as at the latest practicable date. • Share Repurchase Mandate: The Board may repurchase up to 106.19 million shares, representing 10% of the current issued share capital. • Extension: If both mandates pass, the number of shares actually repurchased may be added to the 20% issuance limit.

Director re-elections Seven directors stand for re-election: Executive Directors Xu Changjun (Chairman), Luo Shaowen (CEO), Li Wenjin, Li Heguo and Zhang Hui, plus Independent Non-executive Directors Dr Wu Min and Charles Man. • Dr Wu and Mr Man have each served more than nine years; their continued independence has been reviewed and will be voted on via separate resolutions.

Share capital and ownership • Hi Sun Technology (China) Limited holds 34.28% of PAX Global. Full use of the buy-back mandate would raise its stake to 38.09%, triggering a mandatory offer under the Takeovers Code; the Board states it does not intend to repurchase shares to that level. • The company held no treasury shares and had not repurchased any shares in the six months preceding 10 April 2026.

AGM logistics • Date & time: 20 May 2026, 10:00 a.m. • Venue: Room 2504, 25/F, Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong. • Record date for voting entitlement: 14 May 2026. • All resolutions will be decided by poll; proxy forms must be lodged at Tricor Investor Services at least 48 hours before the meeting.

Remuneration snapshot • Annual director fees for executive directors Xu, Luo and Li Wenjin are HK$3.36 million each; Li Heguo receives HK$3.00 million, and Zhang Hui HK$2.60 million. Independent directors Wu and Man each receive HK$0.30 million per annum.

If approved, both mandates will remain in force until the earlier of the 2027 AGM, the statutory deadline for the next AGM, or a shareholder resolution revoking or varying the authority.