綠岩能源股份有限公司

Our company plans to establish an Audit Committee in the second half of 2025, which will be composed entirely of independent directors and consist of no fewer than three members. The committee's duties include:

1.Establishing or amending the internal control system in accordance with Article 14-1 of the Securities and Exchange Act, as well as evaluating the effectiveness of the internal control system.

2.Establishing or amending procedures for the acquisition or disposal of assets, engaging in derivative transactions, lending funds to others, and providing endorsements or guarantees for significant financial and business activities, in accordance with Article 36-1 of the Securities and Exchange Act.

3.Matters involving the personal interests of directors.

4.Significant asset or derivative transactions.

5.Major lending of funds, endorsements, or provision of guarantees.

6.The raising, issuance, or private placement of equity-type securities.

7.Appointment, dismissal, or compensation of certified public accountants.

8.Appointment or dismissal of financial, accounting, or internal audit officers.

9.Annual and quarterly financial reports signed or sealed by the chairman, managers, and accounting officers.

10.Handling whistleblower cases related to the matters listed above.

11.Other significant matters as prescribed by the company or competent authorities.

To ensure a sound system for the compensation of directors and managerial officers, the Company will establish a Remuneration Committee effective February 18, 2025. The committee shall consist of no fewer than three members. Its duties include:

1.Formulating and regularly reviewing the policies, systems, standards, and structure for performance evaluation and compensation of directors and managerial officers.

2.Regularly evaluating and determining the compensation of directors and managerial officers.

When performing its duties, the Remuneration Committee shall adhere to the following principles:

1.The performance evaluation and compensation of directors, supervisors, and managerial officers shall be determined with reference to the general levels prevailing in the industry, and shall take into account the reasonableness of the correlation with individual performance, the Company’s business performance, and future risks.

2.The committee shall not encourage directors or managerial officers to engage in activities exceeding the Company's risk appetite in pursuit of compensation.

3.The proportion of bonuses distributed based on short-term performance of directors and senior managerial officers, as well as the timing for payment of variable compensation, shall be determined with consideration to industry characteristics and the nature of the Company's business