The board of directors of the Beijing Enterprises Water Group Limited announced that the Company completed the issue of 2023 Medium-term Notes Series 4 to qualified investors on 11 August 2023. The aggregate principal of 2023 Medium-term Notes Series 4 is RMB 1 billion, of which RMB 0.5 billion is type 1 with a term of 2+N years and RMB 0.5 billion is type 2 with a term of 3+N years. The term of both types are existing until redemption by the Company and are due upon redemption by the Company in accordance with the terms of the issuance.

According to the results of book building, the coupon rate of the first two interest-bearing years of type 1 of 2023 Medium-term Notes Series 4 is 2.93% per annum, which will remain unchanged during the first two interest-bearing years. The end of the second interest-bearing year is the first reset date of coupon rate. From the third interest-bearing year, the coupon rate is reset every two years.

The reset date of coupon rate is the corresponding day of every two years from the first reset date of coupon rate. The coupon rate of the first three interest-bearing years of type 2 of 2023 Medium-term Notes Series 4 is 3.25% per annum, which will remain unchanged during the first three interest-bearing years. The end of the third interest-bearing year is the first reset date of coupon rate.

From the fourth interest-bearing year, the coupon rate is reset every three years. The reset date of coupon rate is the corresponding day of every three years from the first reset date of coupon rate. The reset date of each coupon rate shall be the redemption date.

The Company has the right to choose to redeem the principal at the face value plus accrued interest (including all deferred interest and interest accrued (if any)) on the first reset date of the coupon rate of the 2023 Medium-term Notes Series 4 and every subsequent interest payment date. The proceeds from the issue of 2023 Medium-term Notes Series 4 are intended to be used to repay existing loans.