On 2 March 2026, Man Wah Holdings Limited (together with its subsidiaries, the Group) announced the grant of share awards totaling 2.90 million shares, representing approximately 0.07% of its 3.88 billion shares in issue on the grant date, to 24 employees. The award price is determined by the higher of 80% of the average closing price over the five trading days before each vesting date or the par value, multiplied by the number of shares vesting. If payment is not received within seven days after each vesting date, the awards will lapse.

These shares will vest in three stages on 2 March 2028, 2 March 2029, and 2 March 2030. No performance target is attached to these awards, but a clawback mechanism applies if there is serious misconduct or certain employment-related breaches. The company has not provided financial assistance for the purchase of these shares. After this grant, 371.73 million shares remain available for future share awards under Man Wah’s 2024 Share Award Scheme. The closing price of the company’s shares on the grant date was HK$4.91.