Announcement on Downward Adjustment of Convertible Bond Conversion Price

Securities Code: 002984 Bond Code: 127050 Securities Abbreviation: Sentury Tire Bond Abbreviation: Qilin Convertible Bond Announcement Number: 2026-035

Qingdao Sentury Tire Co., Ltd.

Announcement on Downward Adjustment of Convertible Bond Conversion Price

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 major omissions.

Special Reminder:

1. Bond Code: 127050; Bond Abbreviation: Qilin Convertible Bond;
2. Pre-adjustment conversion price: RMB 19.36 per share;
3. Post-adjustment conversion price: RMB 15.12 per share;
4. Effective date of post-adjustment conversion price: June 16, 2026.

I. Overview of Convertible Corporate Bond Issuance and Listing

(I) Issuance of Convertible Corporate Bonds With the approval of the China Securities Regulatory Commission's document "Zheng Jian Xu Ke [2021] No. 2293", the Company publicly issued 21,989,391 convertible corporate bonds on November 11, 2021. Each bond has a face value of RMB 100, with a total issuance amount of RMB 2,198,939,100.

(II) Listing of Convertible Corporate Bonds With the approval of the Shenzhen Stock Exchange's document "Shen Zheng Shang [2021] No. 1217", the Company's convertible corporate bonds totaling RMB 2,198,939,100 were listed and traded on the Shenzhen Stock Exchange starting December 6, 2021. The bond abbreviation is "Qilin Convertible Bond" and the bond code is "127050".

(III) Conversion Period of Convertible Corporate Bonds According to the "Prospectus for the Public Offering of Convertible Corporate Bonds of Qingdao Sentury Tire Co., Ltd." (hereinafter referred to as the "Prospectus"), the conversion period for the convertible bonds issued is from the first trading day after six months from the issuance closing date (November 17, 2021), which is May 17, 2022, until the maturity date of the convertible bonds (November 10, 2027) (if it falls on a statutory holiday or rest day, it will be postponed to the first business day thereafter; interest payments during the postponed period will not be calculated separately).

(IV) Adjustment of Convertible Corporate Bond Conversion Price

1. According to the resolution of the Company's 2021 Annual General Meeting of Shareholders, the Company's 2021 annual equity distribution plan was based on the Company's existing total share capital of 649,668,940 shares. A cash dividend of RMB 1.7 (tax inclusive) was distributed per 10 shares to all shareholders. There were no bonus shares or capital reserve transfers. The Company completed the 2021 annual equity distribution on April 29, 2022. Based on the implementation of the aforementioned annual equity distribution and the relevant clauses for adjusting the conversion price of convertible corporate bonds, the Company decided to adjust the conversion price of "Qilin Convertible Bond" from RMB 34.85 per share to RMB 34.68 per share. For details, please refer to the "Announcement on the Adjustment of the Conversion Price of Qilin Convertible Bond" disclosed on the Juchao Information Network (www.cninfo.com.cn) (Announcement Number: 2022-044).

2. From September 30, 2022, to October 27, 2022, the closing price of the Company's stock was below 85% of the current conversion price of "Qilin Convertible Bond" (RMB 34.68 per share), which is RMB 29.48 per share, for 15 consecutive trading days. This triggered the condition for a downward adjustment of the conversion price stipulated in the Company's "Prospectus". In accordance with the provisions of the "Prospectus" and other relevant clauses, and authorized by the Company's Fourth Extraordinary General Meeting of Shareholders in 2022, the Company's Board of Directors held the Tenth Meeting of the Third Board of Directors on November 14, 2022. The meeting deliberated and approved the "Proposal on Downward Adjustment of the Conversion Price of Convertible Corporate Bonds", and decided to adjust the conversion price of "Qilin Convertible Bond" to RMB 28.52 per share. For details, please refer to the "Announcement on Downward Adjustment of the Conversion Price of Convertible Corporate Bonds" disclosed on the Juchao Information Network (www.cninfo.com.cn) (Announcement Number: 2022-098).