NCT · Intercont (Cayman) Limited Ordinary shares

Intercont (Cayman) Limited has convened a Class A Ordinary Shares meeting and an extraordinary general meeting on June 5, 2026, at its Nanjing office to approve transformative changes to its capital structure. The core proposals seek to dramatically expand authorized share capital from its current level to US$250,000,000, divided into 100 billion ordinary shares of US$0.0025 par value each—specifically 80 billion Class A Shares and 20 billion Class B Shares. This increase involves redesignating newly authorized unissued shares into these classes. Following approval, Class B Shares' voting rights would increase from 30 votes per share to 100 votes per share on all general meeting matters, significantly enhancing their influence. The EGM also proposes adopting a third amended and restated articles of association to reflect these changes and other clarifications, conditional on the capital increase and voting rights proposals. Additionally, shareholders would authorize a flexible reverse share split for Class A Shares at a board-determined ratio between 1-for-2 and 1-for-1000, effective within five years, which could consolidate shares and adjust par value while reducing the number of authorized Class A Shares. The board would have discretion to resolve fractional entitlements, potentially by capitalizing reserves to issue whole shares. If approved, these changes become effective immediately, potentially enabling future financing, altering voting dynamics in favor of Class B holders, and providing tools for share consolidation to meet listing or compliance needs.