Announcement on Subsidiary Receiving Administrative Penalty Decision

Guotai Environmental Protection Co., Ltd.·July 14, 2026·2 pages

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Hangzhou Guotai Environmental Protection Technology Co., Ltd. announces that its subsidiary, Hangzhou Min'an Environmental Engineering Co., Ltd., received an administrative penalty decision from the Hangzhou Qiantang District Finance Bureau for bid rigging. The penalty includes confiscation of illegal gains and a two-year ban from government procurement activities. This is expected to reduce the subsidiary's net profit by RMB 1.857 million and the parent company's net profit attributable to shareholders by RMB 0.9471 million.

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Securities Code: 301203 Securities Abbreviation: Guotai Environmental Announcement No.: 2026-043

Hangzhou Guotai Environmental Protection Technology Co., Ltd.

Announcement on Subsidiary Receiving Administrative Penalty Decision

The Company and the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or major omissions.

Hangzhou Guotai Environmental Protection Technology Co., Ltd. (hereinafter referred to as "the Company") subsidiary Hangzhou Min'an Environmental Engineering Co., Ltd. (hereinafter referred to as "Min'an Environmental") recently received an "Administrative Penalty Decision" (Qian Cai Fa Zhi Fa [2026] No. 000004) issued by the Hangzhou Qiantang District Finance Bureau. The relevant situation is hereby announced as follows:

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