CITIC Telecom renews financial services agreements with CITIC Group entities

CITIC Telecom International Holdings Limited has entered into new 2025 financial services framework agreements with CITIC Bank, China CITIC Bank International, CITIC Finance, and CITIC Finance International. These agreements, effective October 17, 2025, cover deposit, settlement, and credit services for a term not exceeding three years. As CITIC Limited is the controlling shareholder of CITIC Telecom and its financial entities, these transactions are deemed continuing connected transactions under Chapter 14A of the Listing Rules.

The maximum daily outstanding balance of deposits under the renewed agreements will be capped at HK$1.6 bn for the period from the effective date to December 31, 2025, and for each financial year ending December 31, 2026, 2027, and 2028. The aggregate service fees for settlement services are capped at HK$3 m for the same periods. Deposit services are classified as non-exempt continuing connected transactions and discloseable transactions, requiring independent shareholders' approval.

Settlement services are exempt from reporting and approval requirements as their fees are expected to fall below the de minimis threshold. Credit services, provided on normal commercial terms without security over the Group's assets, are fully exempt from reporting, annual review, announcement, and independent shareholders' approval requirements.