Opinions from the Fourth Special Meeting of the Fourth Independent Directors of the Fifth Board
According to the relevant laws and regulations, including the "Opinions on the Reform of the Independent Director System for Listed Companies," the "Administrative Measures for Independent Directors of Listed Companies," the "Listing Rules for the Growth Enterprise Market of the Shenzhen Stock Exchange," and the "Self-Regulatory Guidelines No. 2 for Listed Companies on the Shenzhen Stock Exchange - Standardized Operations of Growth Enterprise Market Listed Companies," Pengyao Environmental Protection Co., Ltd. (hereinafter referred to as "the Company") held the Fourth Special Meeting of the Fourth Independent Directors of the Fifth Board on May 28, 2026. Two independent directors were supposed to attend, and two independent directors were present. Mr. Chen Yiping served as the convener and presided over the meeting. After deliberation by the attending independent directors, the meeting expressed the following review opinions on the matters discussed:
I. Review Opinion on the Proposal to Adjust the Grant Price of the 2026 Restricted Stock Incentive Plan
The adjustment of the grant price for this incentive plan complies with the "Administrative Measures for Equity Incentives of Listed Companies" and other relevant laws and regulations, as well as the provisions of the "Incentive Plan." It will not have a substantial impact on the Company's financial status and operating results, nor will it harm the interests of shareholders. The independent directors' special meeting agreed to the adjustment of the grant price for this incentive plan and consented to submit it to the board of directors for review.