LISTING PROSPECTUS / SHAREHOLDERS' CIRCULARS

CHINA AOYUAN GROUP LIMITED

Prospectus 20 Mar 2024

(1) U.S.$500,000,000 5.5% Senior Secured Notes due 2031; (2) U.S.$143,000,000 Zero Coupon Mandatory Convertible Bonds due 2028; (3) U.S.$1,600,000,000 Senior Perpetual Capital Securities

Description:

(1) U.S.$500,000,000 5.5% SENIOR SECURED NOTES DUE 2031; (2) U.S.$143,000,000 ZERO COUPON MANDATORY CONVERTIBLE BONDS DUE 2028; (3) U.S.$1,600,000,000 SENIOR PERPETUAL CAPITAL SECURITIES