Powerlong signs restructuring support deal with creditors holding 85.48% of in-scope debt

• Powerlong Real Estate entered a restructuring support agreement dated Oct. 10, 2025, with an ad hoc group, with participating creditors holding about 85.48% of in-scope debt acceding as of announcement date.
• Scheme meeting held May 12, 2026 backed plan, with court sanction hearing set for 11 a.m. Hong Kong time on June 17, 2026.
• Restructuring contemplates issuance of up to USD 1.2 billion of Mandatory Convertible Bonds, convertible into up to 4,074,782,608 shares at HKD 2.3 per share, with mandatory conversion 18 months from issue date.
• Plan also includes transfer of up to 208,299,600 Powerlong CM shares to scheme creditors at HKD 15 per share, implying maximum consideration of about USD 400.06 million.
• Completion targeted no later than Sept. 30, 2026, subject to conditions, with Powerlong CM expected to cease being consolidated following disposal and transfer, leaving about 5.6% stake.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powerlong Real Estate Holdings Ltd. published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260514-12159354), on May 14, 2026, and is solely responsible for the information contained therein.