CITIC Securities: Indirect subsidiary intends to issue 700 million medium-term notes, fully-owned subsidiary to provide guarantee.

CMB Securities announced that its wholly-owned subsidiary CMB International plans to provide joint liability guarantee for the issuance of up to 700 million RMB of 3-year bonds by the overseas special purpose vehicle (SPV). The guarantee will take effect on December 4, 2025. As of the day before the guarantee takes effect, the total guarantee balance provided by CMB International to the SPV is 1.6 billion RMB. The SPV has only engaged in bond issuance related businesses since its establishment, and its asset-liability ratio exceeded 70% by the end of 2024. As of December 2, 2025, the company and its holding subsidiaries have no overdue guarantees, and the risks of this guarantee are within the authorized limits and controllable.