Securities Code: 002353 Securities Abbreviation: Jere Corporation Announcement No.: 2026-026 Yantai Jere Oilfield Equipment and Services Co., Ltd. Announcement on Conducting Foreign Exchange Hedging Business The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or material omissions.
Important Content Notice: To prevent exchange rate and interest rate fluctuation risks and achieve stable operations, Yantai Jere Oilfield Equipment and Services Co., Ltd. (hereinafter referred to as the "Company") held the third meeting of the Seventh Board of Directors on April 15, 2026, which reviewed and approved the "Proposal on Conducting Foreign Exchange Hedging Business." The Company and its subsidiaries (hereinafter collectively referred to as the "Company") are approved to conduct foreign exchange hedging business with a scale not exceeding RMB 4 billion or its equivalent in foreign currency. This quota is renewable and valid from the date of approval by the shareholders' meeting in 2025 to the date of the shareholders' meeting in 2026. The Company's foreign exchange hedging business is limited to the same currency as the Company's main settlement currency used in production and operation. Foreign exchange hedging business includes forward settlement/sales of foreign exchange, foreign exchange swaps, cross-currency swaps, foreign exchange options, interest rate swaps, interest rate options, and related combination products. The counterparties are commercial banks approved by regulatory authorities and possessing foreign exchange hedging business qualifications.
This matter is subject to approval by the Company's shareholders' meeting before implementation.