SANY Announces 2023 Employee Stock Ownership Plan

SANY has always focused on improving employee benefits and adhering to the principle of "growing together, pursuing common development, and sharing achievements." By establishing a comprehensive incentive and restraining mechanism, it aims to inspire employees' enthusiasm and creativity and align the interests of shareholders, the listed company, and individuals. This encourages all parties to join efforts to boost SANY's long-term development.

SANY's annual ESOP aims to share the fruits of the group's achievements with employees. The number of employees awarded with stock ownership incentives is growing annually, and the proportion of mid-level and key position employees is increasing year by year:

• 2020: SANY awarded 8.31 million shares to 2,264 employees, 71.52 percent were employees in mid-level management, key positions, and core business (technical) positions.
• 2021: SANY awarded 7.54 million shares to 4,205 employees, 91.33 percent were employees in mid-level management, key positions, and core business (technical) positions.
• 2022: SANY awarded 20.5 million shares to 6,996 employees, 94.26 percent were employees in mid-level management, key positions, and core business (technical) positions.
• 2023: SANY is awarding 36.62 million shares to 7,131 employees, 95.69 percent were employees in mid-level management, key positions, and core business (technical) positions.

The source of shares for the 2023 ESOP is the shares that have already been repurchased by SANY's special account. It does not exceed 36.62 million shares in total and is within one percent of SANY's current total capital stock.

In the meantime, SANY Renewable Energy (SH688349) released an announcement relating to exercising of the second exercise period of the 2020 stock option incentive plan, with 16.0368 million granted options to be exercised, with a three-year restricted period. The subsidiary is committed to becoming a global leader of clean energy equipment and services, and contributing to reaching the goals of carbon peaking and carbon neutrality.

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