Certain A Shares of Zhejiang Runyang New Material Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 25-DEC-2023. These A Shares will be under lockup for 1099 days starting from 21-DEC-2020 to 25-DEC-2023.

Details:
The company's controlling shareholders Zhang Pu and the actual controllers the couple Zhang Pu and Yang Qingfeng and shareholders of the company holding more than 5% of the shares, Ningbo Meishan Free Trade Port Area Mingmao Investment Management Partnership Enterprise LP, and its director Zhou Shuangshuang commit to within 36 months since the date of listing of the present shares that they will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months.

After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

Fei Xiaofeng and Tong Xiaoling, natural person shareholders holding more than 5% of the shares and Ningbo Meishan Free Trade Port Area Anyang Investment Management Partnership Enterprise LP, shareholders of the company holding more than 5% of the shares, Directors, supervisors, and senior management Wan Lixiang and Zhao Wenjian who directly or indirectly hold the company's shares and other legal and natural person shareholders commit to within 12 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the company. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months.