On 26 April 2022, VCREDIT Holdings Limited repurchased an aggregate principal amount of US$14,910,000 of the Notes by way of private treaty from an independent third party for a total consideration of USD 14,164,500, plus accrued interest. The Repurchased Notes represent 17.54% of the original principal amount of the Notes and 21.50% of the outstanding principal amount of the Notes immediately prior to the repurchase of the Repurchased Notes.
The Repurchased Notes shall be cancelled following repurchase. After cancellation of the Repurchased Notes, the aggregate principal amount of the Notes remaining outstanding shall be USD 54,440,000, representing 64.05% of the original principal amount of the Notes. The Company may undertake further repurchases of the Notes outstanding from time to time as permitted by the terms and conditions of the Notes and, as appropriate, after taking into account
factors such as market conditions and the price of the Notes.