Certain A-Shares of CATARC Automotive Proving Ground Co.,Ltd. are subject to a Lock-Up Agreement Ending on 8-MAR-2023. These A-Shares will be under lockup for 371 days starting from 2-MAR-2022 to 8-MAR-2023.

Details:
The Company's holding shareholder China Automotive Technology and Research Center Co., Ltd. committed: to not transfer or entrust to a third party the Company's shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

The Company's shareholders Jiangsu Yueda Group Co., Ltd. and Jiangsu Dafeng Harbor Holdings Limited committed: to not transfer or entrust to a third party the Company's shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.