China Datang Corporation Renewable Power Co., Limited announced that on 14 June 2024, the Company, Datang Renewables (H.K.) Co., Limited and Datang Hainan Energy Development Co., Ltd. entered into the Joint Venture Agreement in relation to, among others, the establishment of the Joint Venture with joint contribution by the parties thereto for the development of Wenchang Energy Storage Project. Upon completion of the Transaction, the Company, Datang Renewables HK and Datang Hainan will hold 40%, 25% and 35% equity interest in the Joint Venture, respectively, and the Joint Venture will become a subsidiary of the Company. The major terms of the Joint Venture Agreement are as follows: Date: 14 June 2024 Registered capital: RMB 59.00 million.

Capital contribution: the Company will contribute RMB 23.60 million in cash, accounting for 40% of the registered capital of the Joint Venture; Datang Renewables HK will contribute RMB 14.75 million in cash, accounting for 25% of the registered capital of the Joint Venture; and Datang Hainan will contribute RMB 20.65 million in cash, accounting for 35% of the registered capital of the Joint Venture. The registered capital and the amount of capital contributed by each party under the Joint Venture Agreement have been determined after arm's length negotiations among the parties, taking into account various factors such as the business nature, working capital requirements and future development plans of the Joint Venture. Way of contribution: Contribution in monetary currency by each of the parties.

Timing of contribution: The amount of capital contribution of each party shall be made by 31 December 2024. Nature of Joint Venture: Limited liability company. Business scope: General projects: investment, construction and operation of new energy, distributed energy and energy storage projects; technical services, technology development, technology consulting, technology exchange, technology transfer and technology promotion (except for licensed business, projects that are not prohibited or restricted by laws and regulations can be operated independently in accordance with the law).

Licensed projects: power generation business, transmission business and power supply (distribution) business (projects that require approval according to law can only be operated after approval by relevant departments). Subject to those contained in the business license for enterprise legal person issued by the market supervision and management department. Corporate governance: The Joint Venture is proposed to set up a board of directors consisting of five directors, including two directors proposed to be appointed by the Company, one director proposed to be appointed by Datang Renewables HK and one director proposed to be appointed by Datang Hainan, who shall be subject to election by the shareholders' meeting of the Joint Venture; and one employee representative director to be elected by way of the employee representatives meeting of the Joint Venture.

The board of directors is proposed to have one chairman, who shall be recommended by the Company and elected by the board of directors. The Joint Venture is proposed to set up a supervisory committee consisting of five supervisors, including one supervisor proposed to be appointed by the Company, one supervisor proposed to be appointed by Datang Renewables HK and one supervisor proposed to be appointed by Datang Hainan, who shall be subject to election by the shareholders' meeting of the Joint Venture; and two employee representative supervisors to be elected by way of the employee representatives meeting of the Joint Venture. The supervisory committee is proposed to have one chairman, who shall be elected by more than half of all the supervisors.