RCON · Recon Technology, Ltd.

Recon Technology, Ltd. entered into a Securities Purchase Agreement effective April 10, 2026, to issue and sell an aggregate of 60,000,000 Class A ordinary shares to identified purchasers. The shares are priced at $0.30 per share, implying total gross proceeds of $18 million. The transaction is structured as a private placement relying on the exemption from registration provided by Section 4(a)(2) of the Securities Act and the safe harbor under Rule 903 of Regulation S, indicating an offering primarily to non-U.S. persons or accredited investors. The closing is conditioned upon the satisfaction of standard deliverables, including the execution of investor representation letters and confidential questionnaires, and must occur within fourteen calendar days of the agreement date. A notable operational detail is that the subscription amounts, while denominated in U.S. dollars, are payable in Renminbi (RMB) converted at a fixed reference rate of 6.8649, as published by the PBOC on April 9, 2026. The shares will be issued as restricted securities, with the Company instructing its transfer agent, VStock Transfer, LLC, to deliver book-entry evidence of issuance. The agreement includes standard representations and warranties regarding the Company's corporate authority, valid issuance of shares, and absence of conflicts with existing obligations. No specific use of proceeds was disclosed in the provided agreement text.