Certain A Shares of Liaoning Xinde New Material Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 9-SEP-2023. These A Shares will be under lockup for 373 days starting from 1-SEP-2022 to 9-SEP-2023.

Details:
The actual controllers of the company Yin Hongtao and Yin Shiyu's commitments regarding the restriction on the sale of shares held by the company, voluntary lock-up of shares, and extension of the lock-up period within 36 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. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

Liaoyang Xinde Enterprise Management Consulting Center (Limited Partnership) committed Lock up period is 36 months since listing date.

Shangrong Baoying (Ningbo) Investment Center (Limited Partnership), Shanghai Shangrong Juyuan Equity Investment Center (Limited Partnership) committed Lock up period is 12 months since listing date.

Blue Lake Investment Management Consulting (Shanghai) Co., Ltd committed Lock up period is 12 months since listing date.

Relevant commitment letters from the company?s natural person shareholders Chen Wei, Zhang Fengsheng, Zhang Chen, Wang Hongli, Liu Xiaoli, Sun Guolin, Liu Ying, and Zhu Zixi Lock up period is 12 months since listing date.

Commitments of company directors, supervisors, and senior management regarding the restriction on the sale of shares held, voluntary lock-up of shares, and extension of the lock-up period Lock up period is 12 months since listing date. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.