The board of directors of Dynagreen Environmental Protection Group Co., Ltd. announced that, on 22 July 2019, the Company entered into a Enshi municipal solid waste-to-energy power generation concession (BOT) agreement (the “Enshi Project”) with Enshi Urban Construction and Investment Co., Ltd. of Hubei Province. The Enshi Project is implemented using the BOT (build-operatetransfer) model with a concessionary period of 30 years commencing from the date on which the concession agreement is signed. The Enshi Project is designed to have a waste treatment capacity of 3,000 tons of municipal solid waste per day with phase I of 1,200 tons per day and phase II of 1,800 tons per day. Phase II of waste treatment will commence as appropriate depending on the actual situation of waste supply. The waste treatment fee of the Enshi Project is RMB 60 per ton. It is estimated that the total investment of the project will be approximately RMB 1,650 million with phase I investment of approximately RMB 690 million.