Shenzhen Pumen Technology Co., Ltd. Notice on the Restriction Period for Exercising Stock Options under the 2022 Equity Incentive Plan

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Security code: 688389 Stock abbreviation: Purun Technology Announcement No.: 2026-022

Shenzhen Purun Technology Co., Ltd.

An indicative announcement on

the period during which stock options granted under the 2022 stock options incentive plan may not be exercised

The board of directors of this company and all of its directors hereby guarantee that there are no false records, misleading statements or material omissions in the contents of this announcement, and they assume legal responsibility for the truthfulness, accuracy and completeness of the contents of this announcement in accordance with the law.

Pursuant to the 《Administrative Measures for Equity Incentive of Listed Companies》, the 《2022 Stock Options Incentive Plan (Draft) of Shenzhen Purun Technology Co., Ltd.》 and the relevant provisions regarding stock options self-exercise by the Shanghai Branch of China Securities Depository and Clearing Co., Ltd., and in combination with the disclosure work plans for the company’s 2025 annual report and the 2026 first quarterly report, the company hereby announces the exercise restriction period of the 2022 stock options incentive plan as follows:

I. The stock options incentive plan situation under the company being in the exercise period is as follows:

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II. The exercise restriction period for this round is from April 8, 2026 to April 22, 2026. During this period, all incentive participants shall have their exercise restricted.

III. The company shall, in a timely manner in accordance with relevant regulations through the self-exercise managing brokerage Guoxin Securities Co., Ltd., apply to the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. for matters related to the exercise restriction.

This is hereby announced.

Board of Directors of Shenzhen Purun Technology Co., Ltd.

April 2, 2026

Security code: 688389 Stock abbreviation: Purun Technology Announcement No.: 2026-021

Shenzhen Purun Technology Co., Ltd.

Announcement on the results of the self-exercise of the 2022 stock options incentive plan for the first quarter of 2026

The board of directors of this company and all of its directors hereby guarantee that there are no false records, misleading statements or material omissions in the contents of this announcement, and they assume legal responsibility for the truthfulness, accuracy and completeness of the contents of this announcement in accordance with the law.

Key information:

● Number of shares to be exercised:

Shenzhen Purun Technology Co., Ltd. (hereinafter referred to as the “company”) 2022 Stock Options Incentive Plan (hereinafter referred to as the “2022 Incentive Plan”): the exercisable quantity of stock options for the third exercise period of the stock options granted for the first time under the 2022 Incentive Plan is 3,164,800 options, and the exercise validity period is from June 30, 2025 to May 8, 2026. During the period from January 1, 2026 to March 31, 2026, the cumulative number of options exercised and share transfer registration completed is 0 shares.

● Date when the exercised stock options shares become freely tradable:

All stock options incentive plans of the company adopt the self-exercise model. The shares obtained by the incentive participants through exercise are listed and traded on the second trading day after the exercise date (T day) (T+2 day).

I. Decision-making procedures for this round of stock options exercise and information disclosure

1. On April 14, 2022, the company held the 16th meeting of the second session of the board of directors. The meeting deliberated and approved 《Proposals regarding the company’s 《2022 Incentive Plan (Draft)》 and its summary》, 《Proposals regarding the company’s 《2022 Stock Options Incentive Plan Implementation and Administration Measures》》, 《Proposals regarding the proposal to authorize the general meeting of shareholders to authorize the board of directors to handle matters related to the 2022 Incentive Plan》, etc. The independent directors gave independent opinions on whether this incentive plan is conducive to the company’s sustainable development and whether it could harm the interests of the company and all shareholders.

On the same day, the company held the 14th meeting of the second session of the board of supervisors, which deliberated and approved 《Proposals regarding the company’s 《2022 Incentive Plan (Draft)》 and its summary》, 《Proposals regarding the company’s 《2022 Stock Options Incentive Plan Implementation and Administration Measures》》 and 《Proposals regarding verifying the list of incentive participants for the first-time grant under the company’s 2022 Incentive Plan》. The board of supervisors verified relevant matters of this incentive plan and issued corresponding verification opinions.

2. On April 16, 2022, the company disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) 《Company Announcement on the Independent Directors’ Public Solicitation of Proxy Voting Rights》（Announcement No.: 2022-020）. Based on the authorization by other independent directors of the company, Mr. Chen Shiqiang, an independent director, as the soliciting party, solicited voting rights on the relevant proposals of the company’s 2022 Incentive Plan to be considered at the 2021 annual general meeting of shareholders from all shareholders of the company.

3. From April 17, 2022 to April 26, 2022, the names and positions of the incentive participants for the first-time grant under this incentive plan were publicized within the company. Upon the expiry of the publicity period, the board of supervisors did not receive any objections raised by any person against the incentive participants for this round. On April 28, 2022, the company disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) 《Explanatory Statement on the Publicity of the List of Incentive Participants under the Company’s 2022 Incentive Plan and the Verification Opinions of the Board of Supervisors of the Company》（Announcement No.: 2022-021）.

4. On May 6, 2022, the company held the 2021 annual general meeting of shareholders, and deliberated and approved 《Proposals regarding the company’s 《2022 Incentive Plan (Draft)》 and its summary》, 《Proposals regarding the company’s 《2022 Stock Options Incentive Plan Implementation and Administration Measures》》 and 《Proposals regarding the proposal to authorize the general meeting of shareholders to authorize the board of directors to handle matters related to the 2022 Incentive Plan》. The implementation of the 2022 Incentive Plan was approved by the general meeting of shareholders. The board of directors was authorized to determine the grant date of stock options, and when the incentive participants meet the conditions, to grant stock options to them and handle all necessary matters for granting the stock options.

5. On May 9, 2022, the company held the 17th meeting of the second session of the board of directors and the 15th meeting of the second session of the board of supervisors, which deliberated and approved 《Proposals regarding granting stock options for the first time to the incentive participants》. The independent directors issued independent opinions on the above-mentioned proposals, and the board of supervisors verified the list of incentive participants on the grant date and issued verification opinions.

6. On April 26, 2023, the company held the 20th meeting of the second session of the board of directors and the 18th meeting of the second session of the board of supervisors, which deliberated and approved 《Proposals regarding adjusting the exercise price of the Company’s 2022 Incentive Plan》. It agreed to adjust the exercise price of the stock options granted for the first time from 20.00 yuan/share to 19.822 yuan/share, and disclosed related announcements on the website of the Shanghai Stock Exchange (www.sse.com.cn) on April 28, 2023.

7. According to the relevant provisions of 《the Company’s 2022 Incentive Plan (Draft)》, if the incentive participants are not clearly identified more than 12 months after the incentive plan has been reviewed and approved at the general meeting of shareholders, the reserved rights shall lapse. As of May 13, 2023, the 1.25 million stock options reserved under the company’s 2022 Incentive Plan—where the incentive participants were not clarified more than 12 months after the incentive plan was approved at the 2021 annual general meeting of shareholders—had already lapsed. For details, please refer to the related announcements disclosed by the company on May 13, 2023 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

8. On June 8, 2023, the company held the 21st meeting of the second session of the board of directors and the 19th meeting of the second session of the board of supervisors, which deliberated and approved 《Proposals regarding adjusting the exercise prices of the Company’s 2021 and 2022 Incentive Plans》, 《Proposals regarding canceling the stock options for the reserved portion under the 2021 Incentive Plan and the portion of stock options granted for the first time under the 2022 Incentive Plan》, and 《Proposals regarding confirming satisfaction of the exercise conditions for the first exercise period of the stock options granted for the first time under the company’s 2022 Incentive Plan》. It agreed that the exercise price of the stock options under the 2022 Incentive Plan be adjusted from 19.822 yuan/share to 19.585 yuan/share; decided to cancel the exercise qualification of 7 departed incentive participants and cancel all 950k stock options granted to them but not yet exercised; agreed that the exercise conditions for the first exercise period of the stock options granted for the first time under the company’s 2022 Incentive Plan be met. For details, please refer to the related announcements disclosed by the company on June 9, 2023 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

9. On July 6, 2023, the company disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) 《Company Announcement on the Implementation of Self-Exercise of Stock Options for the First Exercise Period Granted for the First Time under the 2022 Incentive Plan of the Company》（Announcement No.: 2023-037）. Based on available trading days and the handling of exercise procedures, the actual exercisable period is from July 11, 2023 to May 8, 2024 (the exercise date must be a trading day). The exercise method is self-exercise.

10. On May 9, 2024, the company held the 7th meeting of the third session of the board of directors and the 6th meeting of the third session of the board of supervisors, which deliberated and approved 《Proposals regarding adjusting the exercise prices of the Company’s 2021, 2022 and 2023 stock options incentive plans》, 《Proposals regarding canceling part of the stock options granted for the first time under the 2022 Incentive Plan》 and 《Proposals regarding confirming satisfaction of the exercise conditions for the second exercise period of the stock options granted for the first time under the company’s 2022 Incentive Plan》. It agreed that the exercise price of the stock options under the 2022 Incentive Plan be adjusted from 19.585 yuan/share to 19.304 yuan/share; decided to cancel a total of 1,769,870 stock options that were not exercised within the exercisable period of the first exercise period for the stock options granted for the first time under the company’s 2022 Incentive Plan; agreed that the exercise conditions for the second exercise period of the stock options granted for the first time under the company’s 2022 Incentive Plan be met. For details, please refer to the related announcements disclosed by the company on May 11, 2024 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

11. On June 4, 2024, the company disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) 《Company Announcement on the Implementation of Self-Exercise of Stock Options for the Second Exercise Period Granted for the First Time under the 2022 Incentive Plan of the Company》（Announcement No.: 2024-032）. Based on available trading days and the handling of exercise procedures, the actual exercisable period is from June 7, 2024 to May 8, 2025 (the exercise date must be a trading day). The exercise method is self-exercise.

12. On June 24, 2024, the company held the 8th meeting of the third session of the board of directors and the 7th meeting of the third session of the board of supervisors, which deliberated and approved 《Proposals regarding adjusting the number of stock options to be canceled for the first grant under the 2022 Incentive Plan》. It agreed that the proposed number of stock options to be canceled that were not exercised within the exercisable period of the first exercise period for the stock options granted for the first time under the company’s 2022 Incentive Plan be adjusted from 1,769,870 options to 1,769,370 options. For details, please refer to the related announcements disclosed by the company on June 26, 2024 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

13. On May 27, 2025, the company held the 17th meeting of the third session of the board of directors and the 16th meeting of the third session of the board of supervisors, which deliberated and approved 《Proposals regarding adjusting the exercise price of the stock options incentive plan》, 《Proposals regarding canceling part of the stock options granted for the first time under the 2022 Incentive Plan》, and 《Proposals regarding confirming satisfaction of the exercise conditions for the third exercise period of the stock options granted for the first time under the 2022 Incentive Plan》. It agreed that the exercise price of the stock options under the 2022 Incentive Plan be adjusted from 19.304 yuan/share to 19.022 yuan/share; decided to cancel a total of 3,474,374 stock options that were not exercised within the exercisable period of the second exercise period for the stock options granted for the first time under the company’s 2022 Incentive Plan; decided to cancel the incentive qualification of 10 departed incentive participants and cancel all 684,000 stock options that had been granted to them but not yet exercised (excluding the number of stock options whose second exercise period had expired but remained unexercised); agreed to cancel a total of 791,200 stock options that had been granted to 56 incentive participants but were not fully met at the company level performance appraisal with respect to the exercise conditions for the third exercise period of the stock options granted for the first time under the 2022 Incentive Plan; agreed that the exercise conditions for the third exercise period of the stock options granted for the first time under the company’s 2022 Incentive Plan be met. For details, please refer to the related announcements disclosed by the company on May 29, 2025 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

14. On June 25, 2025, the company disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) 《Company Announcement on the Implementation of Self-Exercise of Stock Options for the Third Exercise Period Granted for the First Time under the 2022 Incentive Plan of the Company》（Announcement No.: 2025-053）. Based on available trading days and the handling of exercise procedures, the actual exercisable period is from June 30, 2025 to May 8, 2026 (the exercise date must be a trading day). The exercise method is self-exercise.

II. Basic information on exercise for the third exercise period of the stock options granted for the first time under the 2022 Incentive Plan

1. Number of shares exercised by incentive participants

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Note 1: On November 9, 2023, the company completed the election and appointment work for the board of directors and the board of supervisors for the third session and appointed senior management personnel. Ms. Wang Hong no longer serves as the secretary of the board of directors; Ms. Lu Man serves as the secretary of the board of directors; and Mr. Li Dawi serves as vice president and a director.

Note 2: Due to adjustments to the company’s governance structure, on December 23, 2025, Mr. Li Dawi resigned from his position as a non-independent director of the third session of the board of directors. After his resignation, he continued to serve as vice president.

Note 3: The period range indicated by “this” in the table above is the first quarter of 2026.

2. Source of the stock for this exercise

The company issues RMB A-share ordinary stocks to the incentive participants on a targeted basis.

3. Number of persons exercising

The number of persons eligible to exercise stock options for the third exercise period granted for the first time under the 2022 Incentive Plan is 56. During the period from January 1, 2026 to March 31, 2026, 0 persons participated in the exercise. As of March 31, 2026, a total of 0 persons participated in the exercise and completed share transfer registration.

III. Listing and tradability arrangements for the shares to be exercised and changes in the share capital structure

(A) Listing date of the exercised shares

All stock options incentive plans of the company adopt the self-exercise model. The shares obtained by the incentive participants through exercise are listed and traded on the second trading day after the exercise date (T day) (T+2 day).

(B) Number of shares to be listed and traded after exercise and changes in share capital structure

For the first quarter of 2026, under the company’s 2022 stock options incentive plan, the total number of shares that were exercised and completed registration for listing and tradability is 0 shares. There are no changes to the listing and tradability of the shares resulting from exercise and to the share capital structure.

© Lock-up and transfer restrictions on shares exercised by directors and senior management

From January 1, 2026 to March 31, 2026, no directors or senior management members will carry out stock options exercise.

IV. Share registration and the plan for the use of raised funds

For the first quarter of 2026, under the company’s 2022 stock options incentive plan, the total number of shares that were exercised and completed registration for listing and tradability is 0 shares. There is no involvement of raised funds.

V. Impact of the results of this round of exercise on the most recent financial report

For the first quarter of 2026, under the company’s 2022 stock options incentive plan, the total number of shares that were exercised and completed registration for listing and tradability is 0 shares. The results of this round of exercise do not have an impact on the company’s financial position and operating results, and do not involve any impact on the most recent financial report.

This is hereby announced.

Board of Directors of Shenzhen Purun Technology Co., Ltd.

April 2, 2026

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