Wolong New Energy Progress Announcement on Providing RMB 250 Million Guarantee for Indirect Controlling Shareholder

In 2025, Wolong New Energy Group Co., Ltd. announced the progress of providing guarantees for its indirect controlling shareholder, Wolong Holding Group Co., Ltd. The company signed a guarantee contract with the Zhejiang Branch of the China Development Bank, providing joint liability guarantees for Wolong Holding's financing business of 250 million yuan, with Wolong Holding providing counter-guarantees. This matter was approved by the board of directors and the shareholders' meeting. As of the announcement date, the total amount of external guarantees provided by the company and its holding subsidiaries is 849.69 million yuan, accounting for 22.61% of the most recent audited net assets, with a guarantee balance for Wolong Holding of 550 million yuan. The board of directors believes that Wolong Holding is operating normally and has strong debt repayment ability, making the risk of this guarantee controllable, beneficial for mutual development, and there are no overdue guarantee situations