Announcement on the First Grant of Restricted Stocks under the 2026 Incentive Plan

Special Instructions:

1. The first grant of restricted stocks is scheduled for: May 29, 2026
2. The number of recipients for the first grant: 269 persons
3. The total number of restricted stocks granted: 374.847 million shares
4. The grant price for restricted stocks: 15.32 yuan/share
5. Source of stocks: First-class restricted stocks

The company and the board of directors ensure that the information provided is accurate, complete, and free from false records, misleading statements, or major omissions.

I. Overview of the Incentive Plan

On May 19, 2026, the company convened the 2025 annual general meeting, which approved the "Incentive Plan for Restricted Stocks of Wan Kai New Materials Co., Ltd." (hereinafter referred to as the "Incentive Plan"). The plan stipulates that the first grant of restricted stocks will be implemented on May 29, 2026, with a total of 269 recipients receiving 374.847 million shares.

1. Grant Method: First-class restricted stocks.

2. Number of Shares Granted: The total number of shares granted under this incentive plan shall not exceed 459.53475 million shares, accounting for no more than 18.43% of the total share capital of the company as of May 20, 2026.