Announcement • May 30
Shanghai Re·Fine Environment Sci-Tech Ltd. Announces Final Profit Distribution Plan on A Shares for the Year 2025, payable on 04 June 2026 Shanghai Re·fine Environment Sci-tech Ltd. announced 2025 final profit distribution plan to be implemented (A shares): Cash dividend/10 shares (tax included): CNY1.88000000. The dividend is payable on 04 June 2026, ex date is 04 June 2026 and record date is 03 June 2026. New Risk • May 15
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.9% average weekly change). Announcement • Apr 27
Shanghai Re·fine Environment Sci-tech Ltd., Annual General Meeting, May 18, 2026 Shanghai Re·fine Environment Sci-tech Ltd., Annual General Meeting, May 18, 2026, at 14:30 China Standard Time. Location: 4F, Building C, No. 555, Tongxie Road, Changning District, Shanghai China 
