Usun Technology Co., Ltd. announced a private placement of 12,575,000 common shares on April 18, 2023. The pricing of the common shares under the private placement shall be no lower than the highest of the two following bases before the company's price determination date, the simple arithmetic average of the closing price of the common shares either on the first, third, or fifth business day immediately prior to the price determination date, after adjustment for any distribution of stock dividends, cash dividends or capital reduction. Or the simple arithmetic average of the closing price of the common shares 30 business days prior to the price determination date, after adjustment for any distribution of stock dividends, cash dividends or capital reduction.

Or the actual issue price of the private placement of ordinary shares is based on not less than 80% of the reference price, and it is proposed that the shareholders' meeting authorize the board of directors to determine it in accordance with relevant laws and regulations based on the prevailing market conditions and objective conditions. The transaction has been approved by the board of directors of the company.