Gravity Media Co., Ltd. Announcement on the Results of the First Exercise Period of the 2024 Restricted Stock and Stock Option Incentive Plan in the First Quarter of 2026 and the Share Changes

Stock Code: 603598 Stock Short Name: Gravity Media Announcement No.: 2026-023

Gravity Media Co., Ltd. on

the First Exercise Period of the 2024 Restricted Stock and Stock Option Incentive Plan in the First Quarter of 2026

Announcement on the Results of Independent Exercise and Changes in Shares

The board of directors and all directors of the Company hereby warrant that the contents of this announcement contain no false records, misleading statements or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Key Matters:

● Number of shares exercised in this round: Gravity Media Co., Ltd. (hereinafter referred to as the “Company”) under the 2024 restricted stock and stock option incentive plan, the number of stock option(s) that are exercisable in the first exercise period is 1.30 million options. The actual exercisable period is from August 28, 2025 to August 7, 2026 (exercise days must be trading days). The exercise method is independent exercise. From January 1, 2026 to March 31, 2026 (excluding the exercise window period), a total of 120,000 shares were exercised and the share transfer registration was completed, representing 9.2308% of the total exercisable stock options.

● Listing and trading commencement time of the shares exercised in this round: Under this incentive plan’s independent exercise model, the shares obtained by the incentive participants upon exercise are listed for trading on the second trading day (T+2) after the exercise date (T).

I. Approval of this incentive plan

1. On July 21, 2024, the Company held the second meeting of the fifth session of the Board of Directors’ Remuneration and Assessment Committee, which considered and approved the “Proposal on the Company’s <2024 Restricted Stock and Stock Option Incentive Plan (Draft)> and its Summary” and the “Proposal on the Company’s <2024 Restricted Stock and Stock Option Incentive Plan Implementation and Assessment Measures>,” and agreed to submit the matters to the Board of Directors for deliberation.

2. On July 22, 2024, the Company held, respectively, the third meeting of the fifth session of the Board of Directors and the third meeting of the fifth session of the Board of Supervisors, which considered and approved the “Proposal on the Company’s <2024 Restricted Stock and Stock Option Incentive Plan (Draft)> and its Summary,” together with other relevant proposals, and proposed to implement the 2024 restricted stock and stock option incentive plan. The Board of Supervisors issued verification opinions on the relevant matters of the Company’s 2024 restricted stock and stock option incentive plan. For details, please refer to the “Gravity Media Co., Ltd. 2024 Restricted Stock and Stock Option Incentive Plan (Draft)” and other relevant announcements disclosed by the Company on July 23, 2024 on the Shanghai Stock Exchange website (www.sse.com.cn).

3. The Company publicized the list of incentive participants internally, with the publicity period from July 23, 2024 to August 1, 2024. Upon expiry of the publicity period, the Board of Supervisors did not receive any objections to the proposed list of incentive participants. In addition, the Board of Supervisors verified the list of incentive participants under this incentive plan and issued verification opinions. For details, please refer to the “Verification Opinions and Explanation on the Publicity of the List of Incentive Participants for the 2024 Restricted Stock and Stock Option Incentive Plan issued by the Board of Supervisors” disclosed by the Company on August 3, 2024 on the Shanghai Stock Exchange website (www.sse.com.cn).

4. On August 8, 2024, the Company held its first extraordinary general meeting of 2024, which considered and approved the “Proposal on the Company’s <2024 Restricted Stock and Stock Option Incentive Plan (Draft)> and its Summary,” the “Proposal on the Company’s <2024 Restricted Stock and Stock Option Incentive Plan Implementation and Assessment Measures>,” and the “Proposal on Requesting the General Meeting to Authorize the Board of Directors to Handle Relevant Matters of the 2024 Restricted Stock and Stock Option Incentive Plan.” The meeting agreed that the Company would implement this incentive plan and authorized the Board of Directors to handle relevant matters concerning the equity incentive plan. For details, please refer to the “Announcement on Resolutions of the First Extraordinary General Meeting of 2024” and other relevant announcements disclosed by the Company on August 9, 2024 on the Shanghai Stock Exchange website (www.sse.com.cn). Based on the Company’s self-check on the trading of the Company’s shares by insiders who had access to inside information within the six months prior to the announcement of the draft of this incentive plan, the Company did not find any instance where any such insider used inside information to trade the Company’s shares, nor did it find any information leakage. On August 9, 2024, the Company disclosed its “Self-Inspection Report on the Trading of the Company’s Shares by Insiders with Access to Inside Information in Relation to the 2024 Restricted Stock and Stock Option Incentive Plan.”

5. On August 8, 2024, the Company held the third meeting of the fifth session of the Board of Directors’ Remuneration and Assessment Committee, which considered and approved the “Proposal on Granting Restricted Stock and Stock Options to Incentive Participants under the 2024 Restricted Stock and Stock Option Incentive Plan,” and agreed to submit the proposal to the Board of Directors for deliberation.

6. On August 8, 2024, the Company held the fourth meeting of the fifth session of the Board of Directors and the fourth meeting of the fifth session of the Board of Supervisors, which considered and approved the “Proposal on Granting Restricted Stock and Stock Options to Incentive Participants under the 2024 Restricted Stock and Stock Option Incentive Plan,” agreeing to grant restricted stock and stock options to the incentive participants under this incentive plan. On the same day, the Board of Supervisors issued verification opinions on the list of incentive participants for this grant.

7. On July 24, 2025, the Company held the second meeting of the fifth session of the Board of Directors’ Remuneration and Assessment Committee, which considered and approved the “Proposal on the Achievement of Exercise Conditions for the First Exercise Period under the 2024 Restricted Stock and Stock Option Incentive Plan,” and agreed to submit the proposal to the Board of Directors for deliberation.

8. On July 24, 2025, the Company held the ninth meeting of the fifth session of the Board of Directors and the ninth meeting of the fifth session of the Board of Supervisors, which considered and approved the “Proposal on the Achievement of Exercise Conditions for the First Exercise Period under the 2024 Restricted Stock and Stock Option Incentive Plan.” On the same day, the Board of Supervisors issued verification opinions on the list of incentive participants who met the exercise conditions.

II. Basic information on the exercise of this equity incentive plan

1. Number of shares to be exercised by the incentive participants:

■

2. Source of shares: The Company will issue its own RMB A-share ordinary shares to the incentive participants through targeted issuance.

3. Number of exercise participants: The number of incentive participants eligible to exercise in the first exercise period of this incentive plan is 19. As of March 31, 2026, a total of 19 participants exercised and completed registration.

III. Arrangements for the listing and trading of shares exercised under this equity incentive plan and changes in share capital structure

1. Listing and trading date of the shares exercised

Under this incentive plan’s independent exercise model, the shares obtained by the incentive participants upon exercise are listed for trading on the second trading day (T+2) after the exercise date (T).

2. Number of shares to be listed for trading

For the first quarter of 2026, the number of shares to be listed and traded as exercised shares under this incentive plan is 120,000 shares.

3. Lock-up and transfer restrictions on shares exercised by directors and senior management

The lock-up and transfer of newly acquired shares from the exercise by the senior management personnel participating in this incentive plan shall comply with relevant laws and regulations and relevant requirements of the CSRC and the Shanghai Stock Exchange.

4. Changes in the structure of shares following this exercise.

Unit: shares

■

After the change in these shares, the Company’s actual controller has not changed.

IV. Share registration and planned use of raised funds

As of March 31, 2026, under this incentive plan, in the first exercise period, through independent exercise, the Company has cumulatively transferred and registered 1,220,000 shares with the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. A total of RMB 12,163,400 was raised. This raised fund will be used to supplement the Company’s working capital.

V. Impact of the newly added shares after this exercise on the most recent financial report

This exercise does not constitute any material impact on the Company’s financial position and operating results.

Hereby announce.

Board of Directors of Gravity Media Co., Ltd.

April 1, 2026

Stock Code: 603598 Stock Short Name: Gravity Media Announcement No.: 2026-024

Gravity Media Co., Ltd.

An Announcement on the

Restricted Exercise Period of the Stock Option Incentive Plan

The board of directors and all directors of the Company hereby warrant that the contents of this announcement contain no false records, misleading statements or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Gravity Media Co., Ltd. (hereinafter referred to as the “Company”) “2024 Restricted Stock and Stock Option Incentive Plan” (hereinafter referred to as the “Incentive Plan” and “incentive plan”) The actual exercisable period for the first exercise period of the stock options granted for the first time (Option Code: 1000000717) is from August 28, 2025 to August 7, 2026 (exercise days must be trading days). It is currently in the exercise stage. Pursuant to the Company’s “Incentive Plan” and the relevant provisions of the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. on independent exercise of stock options, and in light of the disclosure plan for the Company’s 2025 annual report and the first quarter report of 2026, the Company hereby imposes restrictions on the independent exercise time for the stock options that are in the independent exercise period under the Company’s “Incentive Plan.” The specifics are as follows:

1. The restricted exercise period in this round is from April 13, 2026 to April 29, 2026. During this period, all incentive participants holding the stock options (Option Code: 1000000717) shall be restricted from exercising.

2. The Company will, in a timely manner in accordance with relevant regulations, apply to the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. to handle the matters related to restricted exercise.

Hereby announce.

Board of Directors of Gravity Media Co., Ltd.

April 1, 2026

Abundant information and precise interpretation are available in the Sina Finance APP