GCL New Energy Holdings Limited announced the launch and results, respectively, of the Offer for cash of up to the Maximum Tender Amount of the Notes at the Purchase Price. Unless otherwise defined, capitalized terms used in this announcement shall have the same meaning ascribed to them in the Announcements. The Company announced the successful settlement of its previously announced Offer, which was made on the terms and subject to the conditions set forth in the Offer to Purchase dated 13 March 2023.

The Company accepted for payment all of the Accepted Notes and the holders of the Accepted Notes have received the Purchase Price and the Accrued Interest. As of the date of this announcement, the aggregate outstanding principal amount at face value of the Notes, after cancellation of the Accepted Notes, is USD 248,090,017 (equivalent to USD 209,693,397 of outstanding principal amount of the Notes as a result of the January 2022 Redemption).