Henan Shenhuo Coal & Power Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)

Stock Code: 000933 Stock Abbreviation: Shenhuo Shares Announcement No.: 2026-040

Henan Shenhuo Coal & Power Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)

Henan Shenhuo Coal & Power Co., Ltd. June 2026

Declaration

The Company and all directors guarantee that this incentive plan and its summary contain no false records, misleading statements, or material omissions, and assume individual and joint legal liability for their truthfulness, accuracy, and completeness.

Special Notice

1. This incentive plan is formulated in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for Equity Incentives of Listed Companies, the Trial Measures for Implementing Equity Incentives by State-controlled Listed Companies (Domestic) (Guo Zi Fa Fen Pei [2006] No. 175), the Notice on Regulating Issues Concerning the Implementation of Equity Incentive Systems by State-controlled Listed Companies (Guo Zi Fa Fen Pei [2008] No. 171), the Guidelines for the Implementation of Equity Incentives by State-controlled Listed Companies of Central Enterprises (Guo Zi Kao Fen [2020] No. 178), the Articles of Association of Henan Shenhuo Coal & Power Co., Ltd., and other relevant laws, regulations, and normative documents.

2. Henan Shenhuo Coal & Power Co., Ltd. (hereinafter referred to as "Shenhuo Shares" or the "Company") does not fall under any of the circumstances stipulated in Article 7 of the Administrative Measures for Equity Incentives of Listed Companies that prohibit the implementation of equity incentives: (1) The financial accounting report for the most recent fiscal year was issued with an adverse opinion or a disclaimer of opinion by a certified public accountant; (2) The internal control of the financial report for the most recent fiscal year was issued with an adverse opinion or a disclaimer of opinion by a certified public accountant; (3) Failure to distribute profits in accordance with laws, regulations, the Articles of Association, or public commitments within the last 36 months after listing; (4) Other circumstances where equity incentives are prohibited by laws and regulations; (5) Other circumstances recognized by the China Securities Regulatory Commission (CSRC).

3. The incentive targets of this plan do not fall under any of the circumstances stipulated in Article 8 of the Administrative Measures for Equity Incentives of Listed Companies that prohibit them from becoming incentive targets: (1) Being identified as an inappropriate candidate by a stock exchange within the last 12 months; (2) Being identified as an inappropriate candidate by the CSRC and its dispatched agencies within the last 12 months; (3) Having been subject to administrative penalties or market entry bans by the CSRC and its dispatched agencies due to major violations of laws and regulations within the last 12 months; (4) Having circumstances stipulated by the Company Law of the People's Republic of China that prohibit one from serving as a director or senior manager of the company; (5) Other circumstances where participation in equity incentives of listed companies is prohibited by laws and regulations; (6) Other circumstances recognized by the CSRC.

4. The source of the restricted stocks for this incentive plan is Shenhuo Shares A-share common stocks repurchased by the Company from the secondary market.

5. The total amount of restricted stocks to be granted under this incentive plan shall not exceed 15.42036 million shares, accounting for approximately 0.686% of the Company's total share capital of 2,249.004399 million shares at the time of the announcement of this draft. Of this, 14.18 million shares will be granted for the first time, accounting for approximately 0.631% of the total share capital and 91.96% of the total equity granted this time; 1.24036 million shares are reserved, accounting for approximately 0.055% of the total share capital and 8.04% of the total equity granted this time. The reserved portion does not exceed 20% of the total equity granted this time, and the total number of underlying stocks involved in all effective equity incentive plans does not exceed 10% of the Company's total share capital. The cumulative number of company shares granted to any single incentive target through all equity incentive plans within the validity period does not exceed 1% of the Company's total share capital.