Item 3.02 Unregistered Sales of Equity Securities

On March 5, 2021, Vivic Corp ("Company") converted a debt in the amount of US$464,199.12 (RMB 3,000,000.00 Yuan) ("Debt"), which was owed to Yufei Zeng, into shares of common stock of the Company, at the conversion rate of US$0.99 per share and accordingly issued 468,888 shares of common stock to Yufei Zeng.

The Debt was previously lent by Yufei Zeng to Khashing Yacht Industry (Guangdong) Limited Yacht Company, a wholly owned subsidiary of the Company, and was then assumed by the Company.

The issuance of these shares is pursuant to the exemption from registration provided by Section 4(2) of the Securities Act of1933.

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