The Board of China Longyuan Power Group Corporation Limited announced that, on 25 April 2023, Fujian Longyuan Wind Power Generation Co., Ltd. (Fujian Longyuan), Fujian Guodian Wind Power Generation Company Limited (Fujian Guodian) and Wanhua Chemical Group Co., Ltd. (Wanhua Chemical) entered into the Investment Agreement, pursuant to which, Fujian Longyuan, Fujian Guodian and Wanhua Chemical agreed to form the Joint Venture, among which, Fujian Longyuan will contribute RMB 299.475 million in cash to the Joint Venture, accounting for 45% of the total registered capital of the Joint Venture. On the same date, Fujian Longyuan and Fujian Guodian entered into the Shareholders' Voting Rights Exercise Agreement, pursuant to which Fujian Guodian agreed, during the term of its acting as a shareholder of the Joint Venture, to align with Fujian Longyuan in the exercise of proposal rights and voting rights in relation to the operational and financial policy and other matters of the Joint Venture, such as project development, business plans, financial budget and final accounts, financial policy and system, investment and financing management, cash and asset management, or to procure the director(s) whom it appoints to align with that Fujian Longyuan appoints in exercise of voting rights in the meeting of the board of the directors of the Joint Venture. On such basis, the financial results of the Joint Venture will be consolidated into the financial statements of the Company.

Fujian Longyuan, Fujian Guodian and Wanhua Chemical have agreed to jointly contribute funds to form and establish a company in Lianjiang County, Fuzhou City, Fujian Province within 30 working days of the signing of the Investment Agreement. The Chinese name of the Joint Venture is tentatively Lianjiang Guoneng Longyuan Wanhua New Energy Co., Ltd. (the final name is subject to the business licence issued by the company registration authority) and its organizational type is a limited liability company. Scope of business of the Joint Venture: Permitted projects: power generation business, power transmission business, power supply (distribution) business (For projects that are subject to approval according to the law, the business activities can be carried out only after obtaining approval by the relevant departments, and the specific business projects are subject to the approval documents or license documents from the relevant departments) General projects: wind power generation technology services; emerging energy technology research and development; technical services, technology development, technology consultation, technology exchange, technology transfer, technology promotion (For projects other than those that are subject to approval according to the law, the business activities can be carried out independently with business license subject to the business scope approved by market supervision and administration authorities).