Tranche Update on Beijing Navigation Control Technology Co.,Ltd.'s Equity Buyback Plan announced on August 18, 2023.

Beijing Navigation Control Technology Co Ltd is a China-based company mainly engaged in the development of navigation technology. The Company is mainly engaged in the development of medium and high-precision inertial navigation, precision guidance and control technology, as well as the research and development, production and sales of inertial navigation systems and their core components. The Company's main products include inertial navigation systems, core components of inertial navigation systems, other components and technical services. The Company's products are used in weapons and equipment such as long-range guided munitions, civil unmanned aerial vehicles, autonomous driving, energy surveying, mapping and other fields. The Company mainly conducts its businesses in the domestic market.