[Image: Willing New Energy Logo]
Willing New Energy Co., Ltd. (hereinafter referred to as the "Company") passed the "Proposal on the 2026 External Guarantee Quota" at the 16th meeting of the 7th Board of Directors held on January 19, 2026, which was subsequently approved by the 2026 First Extraordinary General Meeting of Shareholders. Based on actual guarantee requirements and future production needs, the Company passed the "Proposal on Increasing the 2026 External Guarantee Quota" at the 17th meeting of the 7th Board of Directors on March 26, 2026, which was approved by the 2026 Second Extraordinary General Meeting of Shareholders.
The Company recently signed a "Maximum Guarantee Contract" and a "Letter of Commitment" with the Yichun Branch of Industrial Bank Co., Ltd. (hereinafter "Industrial Bank Yichun Branch") to provide joint liability guarantees for the financing of its holding sub-subsidiaries, Jiangxi Lingneng Lithium Industry Co., Ltd. (hereinafter "Jiangxi Lingneng") and Jiangxi Linghui Technology Co., Ltd. (hereinafter "Jiangxi Linghui").
I. Overview of Guarantee Situation
To facilitate business development, Jiangxi Lingneng applied for financing from Industrial Bank Yichun Branch for the rollover of maturing working capital loans, with a financing amount of 42.79 million RMB. The Company, Jiangxi Linghui, Mr. Huang Da, and Shanghai Lingyi New Materials Co., Ltd. continue to provide joint liability guarantees for all debts under the original loan contract and the loan extension period. The Company continues to provide pledge guarantees with its 20% equity in Anshan Anzhong Mining Machinery Co., Ltd. and 14.9193% equity in Pingjiang County Hongyuan Mining Co., Ltd., and continues to provide mortgage guarantees with collateral (land, factory buildings, machinery and equipment) under Jiangxi Lingneng's name. The total guarantee amount is 199.166181 million RMB (including this financing and existing loans); the total guarantee amount remains unchanged. Chenzhou Linghao Technology Co., Ltd. has been added to assume joint liability for all debts. The total guarantee amount is 88.24 million RMB (including this financing and existing loans), with a guarantee period of three years from the expiration of the debt performance period stipulated in the main contract.