The board of directors of Shandong Molong Petroleum Machinery Company Limited announced that on 4 March 2024, Mr. Liu Cheng'an has tendered his resignation as a non-employee representative supervisor of the Company ("Supervisor") due to his other work arrangements. Mr. Liu Cheng'an has confirmed that he has no disagreement with the Board and the supervisory committee of the Company (the "Supervisory Committee") and there are no
other matters relating to his resignation as Supervisor that need to be brought to the attention of the shareholders of the Company. As the resignation of Mr. Liu Cheng'an will result in the number of Supervisors falling below
the minimum legal requirement, according to the Company Law of the People's Republic of China (the "PRC") and the Articles of Association of the Company, the resignation of Mr. Liu Cheng'an will take effect after the election of a new Supervisor at a general meeting to be convened and held by the Company. Mr. Liu Cheng'an will continue to perform the duties of a Supervisor until the appointment of a new Supervisor.