Binhai Energy: Termination of Issuance of Shares for Purchase of Assets and Fundraising for Associated Transactions

Coastal Energy Announcement: The company held the 25th meeting of the 11th Board of Directors on November 14, 2025, and approved the "Proposal on Terminating the Issuance of Shares to Purchase Assets, Raise Supporting Funds, and Related Transactions," deciding to terminate the issuance of shares to purchase assets, raise supporting funds, and related transactions. The company had previously intended to purchase 100% equity of Cangzhou Xuyang Chemical Co., Ltd. through the issuance of shares, and planned to privately issue shares to raise supporting funds from up to 35 eligible specific investors. Due to changes in the market environment and the inability of the parties to reach an agreement, after careful study and friendly negotiations with all parties involved, it was decided to terminate the transaction. The termination of this transaction will not have a significant adverse impact on the company's current production and operational activities, and strategic development.