NCT · Intercont (Cayman) Limited Ordinary shares

Intercont (Cayman) Limited is seeking shareholder approval for transformative changes to its capital structure at the June 5, 2026 meetings. The Increase of Share Capital Proposal dramatically expands authorized shares to 100 billion (80B Class A, 20B Class B), providing substantial flexibility for future issuances. Coupled with the Change of Voting Right Proposal, this shifts Class B shares from 30 to 100 votes each, significantly enhancing control for Class B holders given the 206,598.04 shares outstanding on the record date. The Charter Amendment reflects these changes and includes clarifications. The Further Revised Reverse Share Split offers directors discretion for a 1:2 to 1:1000 consolidation of Class A shares (1,437,740 outstanding) within five years, potentially to meet exchange requirements or adjust par value, with authority to handle fractions via reserves. A separate Class A Meeting approves variations to Class A rights from these Class B enhancements. The board's unanimous endorsement and proxy default to FOR votes underscore management's commitment. Record date holders can vote in person in Nanjing or via Zoom, with materials mailed around May 18, 2026. These proposals, if approved, will reshape ownership dynamics and issuance capacity.