002322SZSE

Announcement on the Failure to Meet the Exercise Conditions for the Second Tranche of the 2024 Stock Option Incentive Plan and the Cancellation of Some Stock Options

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Ningbo理工环境能源科技股份有限公司 announces that the conditions for the second exercise period of its 2024 stock option incentive plan were not met. Consequently, the company will cancel 8.0062 million stock options. This decision follows board and supervisory board resolutions and shareholder approval.

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Stock Code: 002322 Stock Abbreviation: 理工能科 Announcement No.: 2026-021

Ningbo理工环境能源科技股份有限公司

Announcement on the Failure to Meet the Exercise Conditions for the Second Tranche of the 2024 Stock Option Incentive Plan and the Cancellation of Some Stock Options

The Company and all members of the Board of Directors guarantee the content of the information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.

Ningbo理工环境能源科技股份有限公司 (hereinafter referred to as the "Company") held its Second Meeting of the Seventh Board of Directors on March 27, 2026, and deliberated and approved the "Proposal on the Failure to Meet the Exercise Conditions for the Second Tranche of the 2024 Stock Option Incentive Plan and the Cancellation of Some Stock Options." In accordance with the "Ningbo理工环境能源科技股份有限公司 2024 Stock Option Incentive Plan (Draft)" (hereinafter referred to as the "2024 Incentive Plan (Draft)" or the "Incentive Plan") and the relevant provisions of the "Ningbo理工环境能源科技股份有限公司 2024 Stock Option Incentive Plan Implementation Assessment and Management Measures," due to the failure to meet the exercise conditions for the second tranche, the Board of Directors proposes to cancel some stock options. The Company hereby announces the specific details as follows:

I. Procedures Performed and Information Disclosure for the Incentive Plan

  1. On August 6, 2024, the Company held the Twelfth Meeting of the Sixth Board of Directors, which deliberated and approved the "Proposal on the 'Ningbo理工环境能源科技股份有限公司 2024 Stock Option Incentive Plan (Draft)' and its Summary," the "Proposal on the 'Ningbo理工环境能源科技股份有限公司 2024 Stock Option Incentive Plan Implementation Assessment and Management Measures'," and the "Proposal to Authorize the Shareholders' Meeting to Authorize the Board of Directors to Handle Matters Related to the 2024 Stock Option Incentive Plan." On the same day, the Company held the Ninth Meeting of the Sixth Supervisory Board, which deliberated and approved the "Proposal on the 'Ningbo理工环境能源科技股份有限公司 2024 Stock Option Incentive Plan (Draft)' and its Summary," the "Proposal on the 'Ningbo理工环境能源科技股份有限公司 2024 Stock Option Incentive Plan Implementation Assessment and Management Measures'," and the "Proposal to Review the List of Recipients for the Ningbo理工环境能源科技股份有限公司 2024 Stock Option Incentive Plan."

  2. From August 7, 2024, to August 16, 2024, the Company publicly posted the list of proposed recipients and their positions for this incentive plan on its internal notice boards. During the公示 period, the Company's Supervisory Board did not receive any objections or adverse feedback from any organization or individual, and there were no such records. On August 17, 2024, the Company disclosed the "Opinion of the Supervisory Board on the Review of the List of Recipients for the Company's 2024 Stock Option Incentive Plan and the Public Notice."

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