CHEETAH NET SUPPLY CHAIN SERVICE INC.

Naiside Transaction

On June 30, 2026, Naiside and Shanghai Kesheng entered into an agreement to terminate the Partnership Agreement (the “Termination Agreement”). Pursuant to the Termination Agreement, the parties agreed to immediately terminate the Partnership Agreement. Shanghai Kesheng agreed to return the full amount of RMB 280,000,000 to Naiside as soon as practicable. The parties further agreed that all rights and obligations arising under the Partnership Agreement, including their respective partnership rights, contribution obligations, and arrangements relating to the allocation of profits and losses, would terminate, and that neither party would pursue claims against the other arising from the performance of the Partnership Agreement, except with respect to the rights and obligations arising under the Termination Agreement.

On August 10, 2026, Naiside and Shanghai Kesheng entered into a first amendment to the Termination Agreement (the “First Amendment”) to establish the repayment arrangements, overdue interest, and liability for default. Pursuant to the First Amendment, Shanghai Kesheng is required to repay the full RMB 280,000,000 to Naiside in a single lump-sum payment on or before December 30, 2026, without deduction of any handling fee, service fee, management fee, or other charge or expense. Shanghai Kesheng’s repayment obligation will be deemed fully discharged only upon Naiside’s receipt of the full amount in immediately available funds in its designated bank account. If the full amount is not repaid by December 30, 2026, the outstanding principal will accrue overdue interest commencing on December 31, 2026, at a rate of 5% per annum, calculated on a simple-interest basis based on the actual number of days overdue.

Loan Agreements

During the quarter ended June 30, 2026, the Company entered into five unsecured short-term loan agreements with Hongkong Sanyou Petroleum Co Limited and Asia Finance Investment Limited, pursuant to which the Company made loans in an aggregate principal amount of $11.01 million.

On May 14, 2026, the Company entered into a one-year unsecured short-term loan agreement with Hongkong Sanyou Petroleum Co Limited. The principal amount of the loan is $4,000,000. This loan carries an annual interest rate of 5.0% and is set to mature in 12 months, with an option to extend for an additional 12 months. As of June 30, 2026, no principal repayments or accrued interest payments had been collected on this loan, with remaining principal of $4,000,000 and interest of $26,111 outstanding.

On May 21, 2026, the Company entered into a one-year unsecured short-term loan agreement with Hongkong Sanyou Petroleum Co Limited. The principal amount of the loan is $4,000,000. This loan carries an annual interest rate of 5.0% and is set to mature in 12 months, with an option to extend for an additional 12 months. As of June 30, 2026, no principal repayments or accrued interest payments had been collected on this loan, with remaining principal of $4,000,000 and interest of $22,222 outstanding.

On May 11, 2026, the Company entered into a one-year unsecured short-term loan agreement with Asia Finance Investment Limited for a principal amount of $1,000,000. This loan carries an annual interest rate of 5.0% and is set to mature in 12 months. As of June 30, 2026, no principal repayments or accrued interest payments had been collected on this loan, with remaining principal of $1,000,000 and interest of $6,944 outstanding.

On May 21, 2026, the Company entered into a one-year unsecured short-term loan agreement with Asia Finance Investment Limited for a principal amount of $600,000. This loan carries an annual interest rate of 5.0% and is set to mature in 12 months. As of June 30, 2026, no principal repayments or accrued interest payments had been collected on this loan, with remaining principal of $600,000 and interest of $3,333 outstanding.

On June 26, 2026, the Company entered into a one-year unsecured short-term loan agreement with Asia Finance Investment Limited for a principal amount of $1,410,000. This loan carries an annual interest rate of 5.0% and is set to mature in 12 months. As of June 30, 2026, no principal repayments or accrued interest payments had been collected on this loan, with remaining principal of $1,410,000 and interest of $783 outstanding.

The foregoing descriptions of the loan agreements do not purport to be complete and are qualified in their entirety by reference to the full text of the respective loan agreements, which are filed as Exhibits 10.10, 10.11, 10.12, 10.13 and 10.14 to this Quarterly Report on Form 10-Q and incorporated herein by reference.