Fighter No. 11 Employee Stock Ownership Plan (Draft)

Stock Abbreviation: Jereh Shares

Stock Code: 002353

Yantai Jereh Oilfield Services Group Co., Ltd.

Fighter No. 11 Employee Stock Ownership Plan (Draft)

August 2026

Statement

The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or material omissions.

Risk Warning

1. The Yantai Jereh Oilfield Services Group Co., Ltd. (hereinafter referred to as the "Company" or "Jereh Shares") Fighter No. 11 Employee Stock Ownership Plan (hereinafter referred to as the "Employee Stock Ownership Plan") must be approved by the general meeting of shareholders before implementation. There is uncertainty as to whether this plan will be approved.

2. The specific funding sources, contribution amounts, and implementation plans for this Employee Stock Ownership Plan are preliminary results; there is uncertainty regarding whether they can be fully implemented.

3. If participating employees waive their subscription, leading to low subscription funds, there is a risk that the Employee Stock Ownership Plan may fail to be established, or if established, may be smaller than the expected scale.

The Company will fulfill its information disclosure obligations based on progress. Investors are advised to make decisions cautiously and be aware of investment risks.

Special Tips

1. The "Yantai Jereh Oilfield Services Group Co., Ltd. Fighter No. 11 Employee Stock Ownership Plan (Draft)" is formulated by Yantai Jereh Oilfield Services Group Co., Ltd. in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plans by Listed Companies, the Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 1—Standardized Operation of Main Board Listed Companies, and other relevant laws, administrative regulations, rules, normative documents, and the Articles of Association of Yantai Jereh Oilfield Services Group Co., Ltd.

2. The total number of employees participating in this Employee Stock Ownership Plan shall not exceed 813, including 1 member of senior management. The scope of participants includes senior management recognized by the Company, as well as middle management and core employees serving in the Company or its holding subsidiaries. It does not include shareholders or actual controllers who individually or collectively hold 5% or more of the Company's shares, nor their spouses, parents, or children. The final list of participants, the number of people, and the final share allocation will be determined based on actual employee payments.

3. The upper limit of the total capital for this Employee Stock Ownership Plan is 174 million RMB, using "shares" as the subscription unit, with each share being 1 RMB. The upper limit of the total number of shares for this plan is 174 million shares. The final total amount of raised funds shall be subject to the actual amount raised.

4. The source of funds includes legal remuneration and other self-raised funds of employees, the Company's matching incentive fund, and other funds obtained through methods permitted by laws and regulations. The total amount of self-raised funds by employees for this plan shall not exceed 87 million RMB, and the amount of the Company's matching incentive fund shall not exceed 87 million RMB.

5. The source of shares for this Employee Stock Ownership Plan is the Jereh Shares A-share common stock repurchased by the Company's special repurchase account. After this plan is approved by the Company's general meeting of shareholders, the Company's shares held in the special repurchase securities account will be obtained through non-transactional transfers or other methods permitted by laws and regulations.

6. The purchase price for the repurchased shares under this Employee Stock Ownership Plan is 140.80 RMB per share, which is the closing price of the Company's stock on the trading day prior to the date the Board of Directors deliberated on this plan.