Intercontinental Oil and Gas: Shareholders received orders to repurchase and pay the price difference for reducing their holdings in violation of regulations.

Intercontinental Oil and Gas announced that on November 7, 2025, the company's shareholder Xiamen Jiucheng received an administrative regulatory measure decision letter issued by the Hainan Regulatory Bureau of the China Securities Regulatory Commission. This is because on March 31, 2025, it illegally reduced its holding of the company's shares by 5.976 million shares, resulting in a decrease in the combined shareholding ratio with the concerted action person from 7.03% to 6.89%. Furthermore, the reduction occurred less than 15 trading days before the disclosure date, without timely notification to the company and public announcement. The Hainan Regulatory Bureau ordered Xiamen Jiucheng to repurchase the improperly reduced shares within one month and hand over the price difference, which will be recorded in its integrity record. This matter does not affect the company's daily operations, and the company will continue to monitor developments and disclose them in accordance with regulations.