Treasure Energy: Plans to repurchase shares with a value of 1 to 2 billion yuan.

Baofeng Energy Announcement: The company plans to repurchase shares with a fund of 1 billion to 2 billion yuan, and the repurchase price shall not exceed 22.8 yuan/share. The repurchased shares will be used to implement an employee stock ownership plan or equity incentive. It is estimated that the quantity of repurchased shares will be approximately 43.86 million to 87.72 million shares, accounting for 0.60%-1.20% of the total share capital of the company. The repurchase period shall not exceed 12 months from the date when the board of directors approves the repurchase plan. The source of funds is from the company's own funds or self-raised funds. The directors, supervisors, senior management personnel, controlling shareholders and their concerted actors, actual controllers and their concerted actors have no plans to reduce holdings in the next 3 months or 6 months.