Certain A Shares of Springsnow Food Group Co., Ltd. are subject to a Lock-Up Agreement Ending on 13-OCT-2023. These A Shares will be under lockup for 746 days starting from 27-SEP-2021 to 13-OCT-2023.

Details:
Within 36 months since the date of listing of the present shares, members of the board of the company and other shareholders will not transfer nor entrust 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 and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

Within 12 months since the date of listing of the present shares, Directors, non-director senior executives and other shareholders will not transfer nor entrust 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 and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.