Announcement on the Cancellation of Certain Restricted Stocks Due to Unmet Conditions of the Fourth Vesting Period of the 2022 Incentive Plan

Weihai Guangwei Composite Materials Co., Ltd. (hereinafter referred to as "the Company") held the fourth meeting of the Compensation and Assessment Committee of the Fourth Board and the thirteenth meeting of the Fourth Board on March 28, 2026, where it reviewed and approved the proposal regarding the cancellation of certain restricted stocks due to unmet conditions for the fourth vesting period of the 2022 restricted stock incentive plan. According to the provisions of the Company's 2022 restricted stock incentive plan (hereinafter referred to as "the Incentive Plan"), the performance assessment at the company level for the fourth vesting period of the initial grant did not meet the standards, resulting in the failure of the vesting conditions. A total of 1.992 million shares (adjusted) of restricted stocks for 137 incentive recipients have been completely canceled and rendered invalid. The relevant information is hereby announced as follows: