Shanghai Power Co., Ltd. announced that on November 6, 2026, the board of directors of the company received the “Letter on Proposal to Repurchase the Company's Shares” from Ms. Chen Meifang, the chairman of the board of directors. Ms. Chen Meifang proposed that the company buy back some of the RMB common shares already issued by the company through centralized bidding transactions through the Shenzhen Stock Exchange trading system. The total capital of this repurchase is not less than RMB 500 million and no more than RMB 1 billion. The price range for the repurchased shares is no higher than 150% of the average stock trading price in the 30 trading days before the board of directors deliberates and approves the share repurchase resolution. The repurchased shares will be used for employee stock ownership plans or share incentives, reduce registered capital, or protect the company's value and shareholders' rights. The details are subject to the share repurchase plan reviewed and approved by the board of directors or shareholders' meetings. The proponent did not trade the company's shares in the six months prior to the proposal, and promised to actively push the company to meet the board of directors to review the share repurchase matter as soon as possible and vote in favor of the share repurchase at the company's board of directors meeting.

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