We present multiband observations and analysis of EP240801a, a low-energy, extremely soft gamma-ray burst (GRB) discovered on 2024 August 1 by the Einstein Probe (EP) satellite with a weak contemporaneous signal also detected by the Fermi Gamma-ray Burst Monitor (GBM). Optical spectroscopy of the afterglow, obtained by Gran Telescopio Canarias and Keck, identified the redshift of z = 1.6734. EP240801a exhibits a burst duration of 148 s in X-rays and 22.3 s in gamma rays, with X-rays leading by 80.61 s. Spectral lag analysis indicates that the gamma-ray signal arrived 8.3 s earlier than the X-rays. Joint spectral fitting of EP Wide-field X-ray Telescope and Fermi/GBM data yields an isotropic energy Eγ,iso=(5.57‑0.50+0.54)×1051erg , a peak energy Epeak=14.90‑4.71+7.08keV , and a fluence ratio S(25–50 keV)/S (50–100keV)=1.67‑0.46+0.74 , classifying EP240801a as an X-ray flash (XRF). The host-galaxy continuum spectrum, inferred using Prospector, was used to correct its contribution for the observed outburst optical data. Unusual early R-band behavior and EP Follow-up X-ray Telescope observations suggest multiple components in the afterglow. Three models are considered: a two-component jet model, a forward-reverse shock model, and a forward shock model with energy injection. All three provide reasonable explanations. The two-component jet model and the energy injection model imply a relatively small initial energy and velocity of the jet in the line of sight, while the forward-reverse shock model remains typical. Under the two-component jet model, EP240801a may resemble GRB 221009A (BOAT) if the bright narrow beam is viewed on-axis. Therefore, EP240801a can be interpreted as an off-beam (narrow) jet or an intrinsically weak GRB jet. Our findings provide crucial clues for uncovering the origin of XRFs.