NOTE 21– MAJOR SUPPLIERS

During the three-month period ended March 31, 2026 the Company purchased 100% of its raw materials from its top three suppliers. As of March 31, 2026, amounts due to those suppliers were $434,275.

During the three-month period ended March 31, 2025, the Company purchased 100% of its raw materials from its top three suppliers. As of March 31, 2025, amounts due to those suppliers were $390,250.

GULF RESOURCES, INC.

AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2026

(Expressed in U.S. dollars)

(UNAUDITED)