Certain A Shares of Jiangsu Hengshang Energy Conservation Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 19-APR-2024. These A Shares will be under lockup for 375 days starting from 10-APR-2023 to 19-APR-2024.

Details:
The company?s holding shareholder and actual controller Zhou Zuqing, and Zhou Zuwei promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for at least 6 months. After the expiration of the above lockup period, during the term of office in the company, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company. Within 6 months after resignation, will not transfer shares in the company.

Qian Lirong and Lu Fengxian promised within 12 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to issuance, nor allow the company to repurchase the said shares.

Director, management personnel Rong Yuehong and management personnel Gao Peijun promised within 36 months after the listing date, will not transfer nor entrust to others for management direct or indirect shares in the company held prior to issuance, nor allow the company to repurchase the said shares. If the closing price of the company?s share is lower than the issue price for 20 consecutive trading days within 6 months after listing, or if the closing price of the company?s share is lower than the issue price for the period ending six months after listing, then the lockup period will automatically be extended for at least 6 months. After the expiration of the above lockup period, during the term of office in the company, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company. Within 6 months after resignation, will not transfer shares in the company.