Announcement by Tibet Railway Co., Ltd. on the Company's Estimated Guarantee for Its Wholly-Owned Subsidiary

Stock Code: 600326 Stock Abbreviation: Tibet Tianlu Announcement No.: 2026-014

Bond Code: 188478 Bond Abbreviation: 21 Tianlu 01

Tibet Tianlu Co., Ltd.

Announcement Regarding the Company’s Guarantee for Its Wholly Owned Subsidiary

The company’s board of directors and all directors guarantee that this announcement contains no false records, misleading statements, or major omissions, and bear legal responsibility for its truthfulness, accuracy, and completeness.

Key Information Highlights:

● Guarantee Object and Basic Information

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● Total Guarantee Amount

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1. Overview of Guarantee

（一）Basic Guarantee Information

Tibet Tianlu Co., Ltd. (hereinafter referred to as “the Company”)’s wholly owned subsidiary, Tibet Tianyuan Road & Bridge Co., Ltd. (hereinafter “Tianyuan Road & Bridge”), needs to issue labor wage guarantee letters and performance guarantee letters to expand its market. It has applied to the company for bank guarantees with an estimated guarantee amount of 14.95 million yuan.

（二）Internal Decision-Making Process

The 27th meeting of the 7th Board of Directors approved the proposal “Regarding the Company’s Guarantee for Its Wholly Owned Subsidiary,” with a voting result of 9 in favor, 0 against, and 0 abstentions. It agreed to provide bank guarantees for Tianyuan Road & Bridge with an estimated guarantee amount of 14.95 million yuan.

Since Tianyuan Road & Bridge’s debt-to-asset ratio exceeded 70% in the past year, this guarantee still requires approval from the shareholders’ meeting.

（三）Estimated Basic Guarantee Details (if any)

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2. Basic Information of the Guarantor

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Tianyuan Road & Bridge is a wholly owned subsidiary of the company. This guarantee does not constitute related-party guarantee. Tianyuan Road & Bridge is not a dishonest person subject to enforcement.

3. Main Contents of the Guarantee Agreement

The main contents of the “Guarantee Agreement” are subject to the specific agreement signed with the bank at the time of actual occurrence.

4. Necessity and Rationality of the Guarantee

The above guarantee meets the operational needs of the subsidiary, is conducive to the overall interests and strategic development of the company; Tianyuan Road & Bridge, as a wholly owned subsidiary within the company’s consolidated financial scope, has an asset-liability ratio exceeding 70%, but maintains good credit status and has debt repayment ability. The guarantee risk is controllable. The company can effectively control risks related to its daily operations and decision-making, and can promptly monitor its credit situation. There is no situation where the guarantee damages the interests of the company or shareholders.

5. Board of Directors’ Opinion

The 27th meeting of the 7th Board of Directors reviewed the proposal “Regarding the Company’s Guarantee for Its Wholly Owned Subsidiary,” with a voting result of 9 in favor, 0 against, and 0 abstentions. It approved providing bank guarantees for Tianyuan Road & Bridge with an estimated guarantee amount of 14.95 million yuan.

Since Tianyuan Road & Bridge’s debt-to-asset ratio exceeds 70%, this guarantee still requires approval from the shareholders’ meeting.

6. Total External Guarantee Amount and Overdue Guarantees

As of December 31, 2024, the company’s audited total assets amounted to 12,818.0894 million yuan, with net assets attributable to shareholders of listed companies of 3,844.7576 million yuan.

As of the date of this announcement, the total external guarantees provided by the listed company and its controlling subsidiaries amount to 394.80 million yuan, including guarantees provided by the company for controlling subsidiaries, pledge guarantees for their associated companies, and guarantees for subsidiaries within the scope of consolidated financial statements, accounting for 10.27% of the latest audited net assets. Over the past twelve months, the company’s total external guarantee amount was 101.68 million yuan, representing 2.64% of the latest audited net assets. The company has no overdue guarantees.

This announcement is hereby made.

Board of Tibet Tianlu Co., Ltd.

March 24, 2026