Chagee Declares Special Cash Dividend Of ~$1.95/Share Or ADS; Board Also Approves Three-Year Annual Dividend Policy Of No Less Than 50% Of Its Net Income From Fiscal Year Ending December 31, 2027

As a part of the Company’s ongoing efforts to enhance shareholder value, its board of directors (the "Board") has approved a special cash dividend of approximately US$1.95 per ordinary share, or US$1.95 per American depositary share ("ADS"), each ADS representing one Class A ordinary share.

The special cash dividend will be payable in U.S. dollars on or about December 4, 2026 to the holders of record of the Company’s Class A and Class B ordinary shares and ADSs as of the close of trading on November 23, 2026 (U.S. Eastern Time), excluding certain Class A ordinary shares held by The Bank of New York Mellon, as the depositary, for bulk issuance of ADSs reserved under the Company’s share incentive plans.

In addition to the special cash dividend, the Board has further approved a three-year annual dividend policy (the "Annual Dividend Policy"). Under the Annual Dividend Policy, the Company plans to declare and distribute annual dividends with an amount of no less than 50% of its net income of the respective preceding financial year in each of the three financial years commencing with the financial year ending December 31, 2027. The exact dividend amount will be determined at the Board’s discretion, based on its assessment of the Company’s actual and projected results of operations, financial and cash position, capital requirements and other relevant factors.

Dividends to be paid to the Company’s ADS holders through the depositary will be subject to the terms of the deposit agreement by and among the Company, the depositary, and the holders and beneficial owners of ADSs issued thereunder, including the fees and expenses payable thereunder.

As of June 30, 2026, the Company had approximately RMB6,567.5 million (US$967.9 million) in cash and cash equivalents and restricted cash.