Certain Ordinary Shares of China Youzan Limited are subject to a Lock-Up Agreement Ending on 18-APR-2022. These Ordinary Shares will be under lockup for 90 days starting from 18-JAN-2022 to 18-APR-2022.

Details:
The Company has undertaken to the Placing Agent that for a period from the date of the Placing Agreement up to 90 days after completion, except for the allotment and issue of Placing Shares neither the Company nor any person acting on its behalf will (i) sell, transfer, dispose of, allot or issue or offer to sell, transfer, dispose of, allot or issue or grant any option, right or warrant to subscribe (either conditionally or unconditionally, or directly or indirectly, or otherwise) any Shares or any interests in Shares or any securities convertible into or exercisable or exchangeable for or substantially similar to any Shares or interests in Shares or (ii) agree (conditionally or unconditionally) to enter into or effect any such transaction with the same economic effect as any of the transactions described in (i) above or (iii) announce any intention to enter into or effect any such transaction described in (i) or (ii) above without first having obtained the written consent of the Placing Agent.