State Grid Information & Communication repurchases unvested restricted shares

State Grid Information & Communication Co., Ltd. announced the repurchase and cancellation of 1,369,375 restricted shares held by 140 incentive participants. This action stems from the third vesting period of the company’s 2021 restricted stock incentive plan, where performance conditions were not achieved for the year 2024. These conditions included non-recurring net asset return on equity (actual 10.61% vs. target 14.8%) and compound growth rate of non-recurring net profit (actual 6.56% vs. target 16%). The repurchase and cancellation are scheduled to be completed by November 5, 2025.

Following the repurchase, the company's total shares outstanding will decrease from 1,199,724,419 to 1,198,355,044. Specifically, restricted shares will decrease from 3,819,270 to 2,449,895, while unrestricted shares will remain at 1,195,905,149. The board of directors approved this resolution on August 26, 2025.