SHAH CAPITAL MANAGEMENT → Emeren Group Ltd

On March 17, 2025, the Shah Parties submitted a non-binding proposal (the "Proposal") to the Company's board of directors. In the Proposal, the Shah Parties proposed to acquire all of the outstanding Ordinary Shares that are not already owned by the Shah Parties for US$ 2.00 in cash per Ordinary Share (the "Proposed Transaction"). The Shah Parties also stated in the Proposal that they are interested only in the Proposed Transaction, and that they do not intend to sell their shares in any other transaction involving the Company. The Shah Parties intend to finance the transactions contemplated under the Proposal through personal cash and the proposed transaction would not be subject to a financing condition. The Shah Parties indicated in the Proposal that they are prepared to finalize the terms of the Proposed Transaction in definitive transaction documents, which will provide for covenants and conditions typical and appropriate for transactions of this type. The Proposal also provided that no binding obligation on the part of the Company or the Shah Parties shall arise with respect to the Proposed Transaction unless and until definitive agreements have been executed. If the Proposed Transaction is completed, the Company's Ordinary Shares would become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934 and would be delisted from the NASDAQ Stock Market LLC.