Key Highlights

• Scale in Sports Safety: Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company") and partner Shenzhen Qianhai Yundongbao Network Technology Company ("Sportcares") for sports-related solutions provided insurance coverage for 1.47 million participants across 17,569 sporting events in 2025.
• Deepening Market Penetration: The Company successfully empowered 732 B-end partners, including 214 sports associations, 305 venues, 148 training institutions, and 50 event organizers.
• Standout Marathon Presence: Zhibao offered insurance for 252 marathons, protecting races like the SCO Kunming (Yunnan, China) with insurance as inexpensive as RMB 4 (USD $0.58) per person per race.
• Insurance for Professionals & Enthusiast Athletes: The 2B2C model extends to professional athletics, providing specialized insurance for 15 professional clubs across the Chinese Super League, League One, and League Two.
• Digital Integration via PaaS: Utilizing its proprietary Platform-as-a-Service (PaaS), Zhibao delivers a digital-native customer experience. Utilizing our PaaS, Zhibao can handle large volumes of enrollments and claims with ease.

Shanghai, China--(Newsfile Corp. - March 17, 2026) - Zhibao Technology Inc. (NASDAQ: ZBAO) ("Zhibao," "we," or the "Company"), a leading high-growth InsurTech company and pioneer of the 2B2C digital embedded insurance model in China, today announced a significant expansion of its sports insurance ecosystem. Throughout 2025, the Company's sports solutions successfully provided comprehensive coverage for 1.47 million individuals across 17,569 sporting events, strengthening our position as a provider for China's booming sports industry.

Sports in China is a large and growing sector. According to government and industry sources the industry is targeted to generate over RMB 7 trillion (USD 1 trillion) in economic output by 2030. The development of the sports industry has also been included in China's 15^th Five-Year Plan (2026-2030). Strong governmental support will aid the continued growth of this key industry.

Deepening our Leadership in Sports Insurance

Sports insurance is a core solution for Zhibao. Through our partnership with Sportcares, Zhibao has access to a substantial network of sporting associations, venues, training institutions, event organizers, and professional sports clubs. Through our various solutions targeting different types of sporting B channels, we can reach many types of end users, including amateur, enthusiast, and professional athletes.

As of the end of 2025, Zhibao's collaborative B-channel network has grown to 732 partners, including:

• 214 Sports Associations: Key partners include the Guangdong Football Association, Jiangsu Basketball Association, Hubei Fishing Association, and the Jiangxi Winter Swimming Sports Association, Hainan Street Dance Association and Hohhot Basketball Association.
• 305 Sports Venues: Providing digital risk management for facilities and their users.
• 148 Sports Training Institutions: Ensuring safety and liability insurance for the next generation of athletes.
• 50 Event Organizers: Streamlining insurance procurement for large-scale regional competitions, including
• 15 Professional Sports Clubs: Providing specialized protection for high-profile teams such as Shenzhen Peng City (Chinese Super League), and League One/Two clubs including Meizhou Hakka, Shaanxi Union, Guangdong Mingtu, Ganzhou Ruishi, and Guangzhou Dandelion

Strong focus on the Marathon and Mass Participation Sector

A particular highlight of Zhibao's 2B2C business model and PaaS is our focus on marathons and similar large-scale events.

Zhibao's digital-first approach has been instrumental to our success in high-traffic endurance events. The Chinese Athletic Association estimates there were 7 million runners across 749 races in China in 2025. Zhibao provided insurance coverage for 311 races in 2025.

Prestigious races covered by Zhibao include:

• 2025 SCO Kunming Marathon
• 2025 Leshan Double Heritage Marathon
• 2025 Heyuan Wanlv Lake Marathon
• 2025 Liaocheng Half Marathon
• 2025 Chilechuan Grassland Half Marathon

Using the SCO Kunming Marathon, held on December 1^st 2025 in the provincial capital of China's Yunnan Province, as an example, Zhibao and Sportcares offered a customized accident insurance called "Dasai Bao" ("Big Race Cover") to the over 25,000 runners participating in the event. This coverage is specific to accidents or sudden medical conditions that occur during the occurrence of the event. By utilizing the scale of such events and careful negotiation, insurnace plans can be purchased for as low as RMB 4 (USD $0.58) per person per day.

Partnerships with Professional Teams and Sporting Associations

Zhibao's sports solution has also been successfully deployed with various sporting associations and professional sports teams. By focusing on the individual needs of specific sports and their participants, Zhibao has reached over 200 sporting associations ranging from fishing to winter sports. Insurance for professional teams include soccer (football) and basketball. The wide range of associations and teams demonstrate the versatility of Zhibao's platform, and our ability to source specific and targeted insurance products under the "Quanmin Jiansheng Bao" ("Everyone Get Healthy Coverage").

Liability Insurance for Sporting Venues and Training Institutions

The third facet of Zhibao's sport insurance solution provides liability insurance to sporting venues and accident insurance to their users. Termed "Zuzhibao" ("Organizer's Cover,") Zhibao has sourced a flexible and comprehensive liability insurance product for sporting venues ranging from billiards to jet skis.

Management Commentary

"Our performance in 2025 demonstrates the immense versatility and scalability of our 2B2C business model," said Mr. Botao Ma, Chief Executive Officer of Zhibao. "By embedding our PaaS-driven solutions into the operations of over 700 sports-related entities, we are not just selling insurance; we are providing a safety net for millions of participants, insurance they might not have been able to find or purchase on their own. For an enthusiast or professional athlete, these coverages are invaluable. While the sports sector is a natural use case for our 2B2C model and our PaaS, our experience in this sector serves as a powerful roadmap for our expansion into other high-growth industries."

Mr. Xiaowei Le, Chief Operating Officer of Zhibao, added: "The sports industry demands real-time, digital-native solutions. Our ability to manage 17,569 events and protect 1.47 million people highlights the efficiency of our automated policy management and claims processes. We remain committed to iterating our technology to meet the evolving preferences of China's tech-savvy consumers."

About Zhibao Technology Inc.

Zhibao Technology Inc. is a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities ("Zhibao China Group") in China. 2B2C ("to-business-to-customer") digital embedded insurance is the Company's innovative business model, which Zhibao China Group pioneered in China. Zhibao China Group launched the first digital insurance brokerage platform in China in 2020, which is powered by their proprietary PaaS ("Platform as a Service").

Zhibao has developed over 40 proprietary and innovative digital insurance solutions addressing different scenarios in a wide range of industries, including but not limited to travel, sports, logistics, utilities, and e-commerce. Zhibao acquires and analyzes customer data, utilizes big data and AI technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep it abreast of the new trends and customer preferences in the market. For more information, please visit: ir.zhibao-tech.com.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "is/are likely to," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of our annual reports on Form 20-F (as amended) and registration statements on Form F-1 (as amended) that have been filed or will be filed from time to time with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

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