KEY HIGHLIGHTS

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• - $154.7 Million PIPE Financing Closed: Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") has closed its previously announced private investment in public equity ("PIPE") financing for an aggregate purchase price of $154,700,000.
• - Streamlined Unit Structure: The transaction comprises 442,000,000 PIPE Units at $0.35 per Unit (each consisting of one Class A Ordinary Share and one two-year Warrant exercisable at $0.35 per share), with 395,678,152 Units delivered at closing and the remaining 46,321,848 Units to be delivered following shareholder approval.

Pursuant to the Amended Securities Purchase Agreement, the Company has completed the PIPE financing for an aggregate of 442,000,000 PIPE Units at a purchase price of $0.35 per Unit, representing an aggregate purchase price of $154,700,000. The total purchase price has been fully satisfied and deemed paid in full at the closing through the contribution by the Investors of 2,380 Bitcoins to the Company's designated wallet account, based on a reference price of $65,000 per Bitcoin determined with reference to prevailing market prices as of July 30, 2026.

Each PIPE Unit consists of one Class A Ordinary Share, par value $0.0001 per share, and one Warrant to purchase one Class A Ordinary Share at an exercise price of $0.35 per share, exercisable for a period of two years from the closing date. At the closing, the Company delivered 395,678,152 PIPE Units, with the remaining 46,321,848 PIPE Units to be delivered following shareholder approval, with no additional consideration required from any Investor.

Management Commentary

"The successful closing of this $154.7 million investment marks one of the most transformational moments in Zhibao's 10-year history, strengthening our financial foundation and significantly accelerating our future growth potential," said Mr. Botao Ma, Director of Zhibao. "Our teams and operating entities remain passionately committed to following through on our foundational vision: providing the world's best digital insurance brokerage services to individuals and small- and medium-sized enterprises (SMEs) via our 2B2C business model and utilizing our Platform as a Service (PaaS)."

Mr. Ma continued: "I am very hopeful for the future as this investment solidifies our foundations and ensures we are even better positioned to deepen our scenario integrations, expand our AI-driven capabilities, and provide top-notch service to our existing and future clients. Our investors bring with them deep understanding and technical ability of cryptocurrency markets and Web3 infrastructure. I am confident that our combined might will unlock new and innovative synergies and scenarios that will extend our lead in the Insurtech space and unlock sustainable, long-term value for our shareholders, partners, and clients worldwide."

Registration Rights

Under the terms of the transaction agreements, the Company will use commercially reasonable efforts to file a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) within forty-five (45) calendar days following the July 31, 2026 effective date, covering the resale of the Class A Ordinary Shares, Warrant Shares, and certain management shares.