Ningbo University of Technology Environmental Energy Technology Co., Ltd.
Audit Opinion of the Board of Directors' Compensation and Assessment Committee on the Cancellation of Part of the 2024 Stock Option Incentive Plan
Ningbo University of Technology Environmental Energy Technology Co., Ltd. (hereinafter referred to as the "Company") held the first meeting of the Seventh Board of Directors' Compensation and Assessment Committee on March 27, 2026. The meeting deliberated and passed the "Proposal on the Conditions for Exercising the Second Tranche of the 2024 Stock Option Incentive Plan Not Being Met and the Cancellation of Part of the Stock Options."
The Company's Board of Directors' Compensation and Assessment Committee, in accordance with the "Ningbo University of Technology Environmental Energy Technology Co., Ltd. 2024 Stock Option Incentive Plan (Draft)" (hereinafter referred to as the "2024 Incentive Plan (Draft)") and the "Ningbo University of Technology Environmental Energy Technology Co., Ltd. 2024 Stock Option Incentive Plan Implementation and Assessment Management Measures" (hereinafter referred to as the "Management Measures"), and other relevant regulations, hereby issues its audit opinion as follows:
Given that the company-level performance assessment for the second exercise period set forth in the Company's 2024 Stock Option Incentive Plan was not met, in accordance with the provisions of the "2024 Incentive Plan (Draft)" and the authorization granted by the first extraordinary general meeting of shareholders in 2024 to the Board of Directors, the 8.0062 million stock options for the second exercise period held by 87 incentive recipients are not eligible for exercise and will be cancelled by the Company.