【Shinfox Energy】Our company's Q1 2026 financial report was reviewed by a certifying accountant who issued a review report with significant uncertainty regarding going concern

1. Date of occurrence of the event: 2026/05/13 2. Full text of the auditor's review opinion: Accountant's Review Report To the Board of Directors of Shinfox Energy Co., Ltd. and Subsidiaries: Introduction Shinfox Energy Co., Ltd. and its subsidiaries (hereinafter referred to as "Shinfox Group")'s consolidated balance sheets as of March 31, 2026 and 2025, and consolidated statements of comprehensive income, consolidated statements of changes in equity, and consolidated statements of cash flows for the three months ended March 31, 2026 and 2025, as well as the notes to the consolidated financial statements (including a summary of significant accounting policies), have been reviewed by us. The responsibility for preparing consolidated financial statements that present fairly in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard No. 34 "Interim Financial Reporting" recognized and issued by the Financial Supervisory Commission is that of management. Our responsibility is to express a conclusion on the consolidated financial statements based on our review. Scope Except for what is stated in the Basis for Qualified Conclusion section, our review was performed in accordance with ROC Review Standard No. 2410 "Review of Financial Statements". The procedures performed in a review of consolidated financial statements include inquiries (primarily to personnel responsible for financial and accounting matters), analytical procedures, and other review procedures. The scope of a review is substantially less than the scope of an audit. Accordingly, we do not express an audit opinion on the consolidated financial statements. Basis for Qualified Conclusion As described in Note 4, (3) to the consolidated financial statements, the financial statements for the same period of certain non-significant subsidiaries included in the aforementioned consolidated financial statements and related information disclosed in Note 13 have not been reviewed by an accountant. These were prepared based on the internally prepared and unreviewed financial statements of those companies for the same period. As of March 31, 2026 and 2025, the total assets of these subsidiaries were NTD 7,742,656 thousand and NTD 3,947,236 thousand, respectively, accounting for 17.24% and 6.83% of the consolidated total assets, respectively; their total liabilities were NTD 2,371,167 thousand and NTD 979,014 thousand, respectively, accounting for 5.49% and 2.57% of the consolidated total liabilities, respectively; and their total comprehensive income for the three months ended March 31, 2026 and 2025, were NTD (26,958) thousand and NTD (45,440) thousand, respectively, accounting for (2.22)% and (16.71)% of the consolidated total comprehensive income, respectively. Furthermore, as described in Note 6, (7) to the consolidated financial statements, for the investments accounted for under the equity method by Shinfox Group as of March 31, 2026 and 2025, its share of profit or loss of associates and joint ventures accounted for under the equity method was evaluated and disclosed based on the internally prepared and unreviewed financial statements of the investees for the same period. As of March 31, 2026 and 2025, the balances of related investments accounted for under the equity method were NTD 995,709 thousand and NTD 922,790 thousand, respectively, accounting for 2.22% and 1.6% of the consolidated total assets, respectively; and the comprehensive income recognized for the three months ended March 31, 2026 and 2025 (including the share of profit or loss of associates and joint ventures accounted for under the equity method and the share of other comprehensive income of associates and joint ventures accounted for under the equity method) were NTD 25,680 thousand and NTD 6,706 thousand, respectively, accounting for 2.11% and 2.47% of the consolidated total comprehensive income, respectively. Qualified Conclusion Based on our review, except for the possible adjustments to the consolidated financial statements if the financial statements of certain non-significant subsidiaries and investments accounted for under the equity method described in the Basis for Qualified Conclusion section had been reviewed by an accountant, we have not discovered any matters that cause us to believe that the aforementioned consolidated financial statements are not prepared in all material respects in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard No. 34 "Interim Financial Reporting" recognized and issued by the Financial Supervisory Commission, thereby failing to present fairly the consolidated financial position of Shinfox Group as of March 31, 2026 and 2025, and its consolidated financial performance and consolidated cash flows for the three months ended March 31, 2026 and 2025. Material Uncertainty Related to Going Concern As described in Note 12, (1) to the consolidated financial statements, as of March 31, 2026, Shinfox Group's accumulated deficit was NTD 17,003,619 thousand, exceeding one-half of its paid-in capital; equity attributable to owners of the parent was NTD (182,233) thousand. The debt-to-equity ratio and current ratio as of March 31, 2026, were 96% and 54%, respectively. These conditions indicate that a material uncertainty exists that may cast significant doubt on Shinfox Group's ability to continue as a going concern. Our review conclusion is not modified in respect of this matter. Emphasis of Matter As described in Note 4, (3) to the consolidated financial statements, due to Shinfox Group's operational strategy, it is no longer able to support the continued operations of Shinfox Far East Company Pte. Ltd. (hereinafter referred to as: SFE), and SFE is also unable to repay its debts. Therefore, management recognized related losses from inter-group endorsements and loans to SFE, which led to an increase in net loss attributable to owners of the parent. Our review conclusion is not modified in respect of this matter. Furthermore, as described in Note 6, (25) to the consolidated financial statements, Shinfox Group estimated variable consideration based on the expected value method, considering factors such as the mediation settlement document issued by the Public Construction Commission of the Executive Yuan, past negotiation experience, and contract terms. Our review conclusion is not modified in respect of this matter. 3. Name of accounting firm: PricewaterhouseCoopers Taiwan 4. Certifying accountant's name and approval number 1: Chou, Hsiao-Tzu, (85) Tai-Tsai-Cheng (6) No. 68700 5. Certifying accountant's name and approval number 2: Chen, Yu-Tung, Jin-Guan-Zheng-Shen-Zi No. 1130350413 6. Date of accountant's audit (review) report: 2026/05/13 7. Countermeasures: None 8. Other matters to be specified: None