Ningbo Construction Corporation Limited Announcement on the Progress of the Fully Owned Subsidiary's Signing of the Non-Residential Housing Acquisition Compensation Agreement

Securities Code: 601789 Securities Abbreviation: Ningbo Construction Announcement No.: 2026-013

Ningbo Construction Co., Ltd.

Announcement on the Progress of the Acquisition Monetary Compensation Agreement for Non-Residential Properties Signed by the Company’s Wholly-Owned Subsidiary

The Board of Directors of the Company and all Directors guarantee that there are no false records, misleading statements, or major omissions in the content of this announcement, and they bear individual and joint responsibility for the authenticity, accuracy, and completeness of its content.

I. Situation Regarding Non-Residential Property Expropriation

According to the overall construction planning requirements of Yinzhou District, Ningbo City, Ningbo Construction Co., Ltd. (hereinafter referred to as “Ningbo Construction” or “the Company”) wholly-owned subsidiary Ningbo Construction Engineering Group Co., Ltd. (hereinafter referred to as “Construction Group”) owns land and property at 538 Ningchuan Road, Yinzhou District, Ningbo City, which is subject to expropriation and acquisition. The expropriation department, Ningbo City Yinzhou District Housing Demolition Service Center, and the expropriation implementation unit, Ningbo City Yinzhou District Dongliu Street Demolition Office, signed a “Monetary Compensation Agreement for the Acquisition of Non-Residential Properties” with Construction Group in August 2023, which provides for compensation regarding the expropriation of the property located at 538 Ningchuan Road owned by Construction Group, in accordance with policies and agreements.

Based on asset evaluation and relevant expropriation policies, the expropriated properties include houses, land, renovations, monetary compensation subsidies, one-time relocation and temporary resettlement fees, business interruption compensation, significant facility relocation loss compensation, housing expropriation rewards, etc. For details, please refer to the announcement disclosed by the Company on August 9, 2023, titled “Announcement on the Signing of the Monetary Compensation Agreement for the Acquisition of Non-Residential Properties by the Wholly-Owned Subsidiary of Ningbo Construction Co., Ltd.” (Announcement No. 2023-031).

II. Status of Received Expropriation Compensation

Recently, Construction Group received the aforementioned expropriation compensation amounting to 118,477,094 yuan. As of the date of this announcement, Construction Group has cumulatively received expropriation compensation totaling 138,477,094 yuan.

III. Impact of the Property Expropriation on the Listed Company

The Company will conduct appropriate accounting treatment for the received land and property expropriation compensation in accordance with relevant regulations. The receipt of land and property expropriation compensation will not affect the Company’s performance for the year 2025, and the impact on the Company’s performance for the year 2026 is uncertain. The specific accounting treatment and related financial data will be subject to the results confirmed by the auditing firm. Investors are advised to pay attention to investment risks.

This announcement is hereby made.

Board of Directors of Ningbo Construction Co., Ltd.

March 18, 2026

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