Announcement on Using a Portion of Raised Funds to Temporarily Supplement Working Capital

Securities Code: 002353 Securities Abbreviation: Jereh Announcement No.: 2026-030 Yantai Jereh Oilfield Services Group Co., Ltd. Announcement on Using a Portion of Idle Raised Funds to Temporarily Supplement Working Capital The Company and all members of its board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or major omissions. Yantai Jereh Oilfield Services Group Co., Ltd. (hereinafter referred to as the "Company") held the third meeting of the seventh board of directors on April 15, 2026, and reviewed and approved the "Proposal on Using a Portion of Idle Raised Funds to Temporarily Supplement Working Capital." The proposal allows the Company and its wholly-owned subsidiary Yantai Jereh Oilfield Equipment Technology Co., Ltd. (hereinafter referred to as "Jereh Equipment" or "Subsidiary") to use no more than RMB 1.4 billion of idle raised funds to temporarily supplement working capital for a period of 12 months from the date of approval by the board of directors. The Company also agreed to open a special account for idle raised funds to temporarily supplement working capital for the deposit and management of such funds. This matter is within the scope of the board of directors' approval authority and does not require shareholder approval. This matter does not constitute a related party transaction and does not involve any change in the use of raised funds. The details are as follows: I. Basic Situation of Raised Funds With the approval of the China Securities Regulatory Commission's "Approval on Yantai Jereh Oilfield Services Group Co., Ltd.'s Non-public Offering of Shares" (Zhengjian Permit [2022] No. 685), Yantai Jereh Oilfield Services Group Co., Ltd. (hereinafter referred to as the "Company" or "Jereh Shares") issued 69,098,949 ordinary shares (A shares) through inquiry at a price of RMB 36.18 per share. The total amount of funds raised by the Company from this issuance of new shares was RMB 2,499,999,974.82. After deducting the issuance expenses (excluding tax) of RMB 12,516,152.98, the net amount of raised funds was RMB 2,487,483,821.84. These raised funds were received on June 23, 2022, and have been verified by Zhongxi Certified Public Accountants (Special General Partnership), who issued an "Audit Report" (Zhongxi Audit [2022] Y00074). The Company has managed the raised funds in a special account as required and has signed relevant supervision agreements with the banks where the raised funds are deposited and the sponsor. On January 18, 2024, the Company convened the first extraordinary general meeting of shareholders in 2024, which reviewed and approved the "Proposal on Changing the Use of Some Raised Funds." The Company terminated the industrialization project of new energy intelligent fracturing equipment and core components (hereinafter referred to as the "Original Raised Fund Project") and changed the use of the remaining raised funds from this project to the oil and gas technology services project (hereinafter referred to as the "New Raised Fund Project"). As of November 30, 2023, the balance of raised funds for the Original Raised Fund Project was RMB 75,82