2026 Restricted Stock Incentive Plan (Draft)

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Zhuhai Enpower Electric Co., Ltd.

2026 Restricted Stock Incentive Plan (Draft)

August 2026

Statement

All members of the Board of Directors of the Company guarantee that the contents of this announcement do not contain any false records, misleading statements, or major omissions, and assume legal responsibility for the authenticity, accuracy, and completeness of its contents.

All incentive recipients of the Company promise that if the Company, due to false records, misleading statements, or major omissions in information disclosure documents, fails to meet the conditions for granting or vesting of equity, the incentive recipients shall return all benefits obtained from this incentive plan to the Company after the relevant information disclosure documents are confirmed to contain false records, misleading statements, or major omissions.

Special Notice

1. The "Zhuhai Enpower Electric Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)" (hereinafter referred to as "this Incentive Plan") is formulated by Zhuhai Enpower Electric Co., Ltd. (hereinafter referred to as "Enpower", "the Company") in accordance with the "Company Law of the People's Republic of China", "Securities Law of the People's Republic of China", "Administrative Measures for Equity Incentives of Listed Companies", "Shenzhen Stock Exchange GEM Listing Rules", "Shenzhen Stock Exchange GEM Listed Company Self-Regulatory Guidelines No. 1 - Business Handling", and other relevant laws, administrative regulations, normative documents, and the "Articles of Association".

2. The incentive form adopted by this Incentive Plan is the second type of restricted stock. The source of the stock is the Company's RMB A-share common stock issued directly to the incentive recipients.

Incentive recipients who meet the grant conditions of this Incentive Plan, upon satisfying the corresponding vesting conditions and arrangements, will obtain the Company's A-share common stock at the grant price during the vesting period. The stock will be registered at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited. Before the restricted stock granted to the incentive recipients vests, the incentive recipients do not enjoy shareholder rights of the Company, and the aforementioned restricted stock may not be transferred, used for guarantees, or used to repay debts.

1. The number of restricted stocks proposed to be granted to incentive recipients under this Incentive Plan is 13.00 million shares, accounting for approximately 4.25% of the Company's total share capital of 306.0553 million shares as of the announcement date of this Incentive Plan draft. This grant is a one-time grant with no reserved equity.

As of the announcement date of this Incentive Plan draft, the total number of underlying shares involved in all of the Company's equity incentive plans within the validity period does not exceed 20.00% of the Company's total share capital. The cumulative number of company shares granted to any single incentive recipient through all equity incentive plans within the validity period does not exceed 1.00% of the Company's total share capital.

1. The total number of incentive recipients involved in this Incentive Plan is 389, including directors, senior management, and core technical/business personnel who are employed by the Company (including subsidiaries) at the time of the announcement of this Incentive Plan. It does not include independent directors of Enpower or shareholders or actual controllers who individually or collectively hold more than 5% of Enpower's shares, or their spouses, parents, or children, which complies with the provisions of Article 8 of the "Administrative Measures for Equity Incentives of Listed Companies" and Article 8.4.2 of the "Shenzhen Stock Exchange GEM Listing Rules".

2. The grant price of the restricted stock under this Incentive Plan is 10.81 yuan/share. During the period from the announcement date of this Incentive Plan draft to the completion of the registration of the restricted stock vesting by the incentive recipients, if the Company undergoes capital reserve conversion to share capital, distribution of stock dividends, stock splits, share consolidations, rights issues, or dividend payments, the grant price and the number of equity interests of the restricted stock will be adjusted accordingly in accordance with this Incentive Plan.