Tranche Update on Jiangsu HSC New Energy Materials Co.,LTD.'s Equity Buyback Plan announced on August 29, 2023.

Jiangsu HSC New Energy Materials Co Ltd is a China-based company mainly engaged in the research, development, production and sales of lithium battery electrolyte additives. The Company's main products are electrolyte additives such as vinylene carbonate (VC), fluoroethylene carbonate (FEC) and lithium bis-oxalate borate (BOB), and special silicone products such as isocyanate propyl trimethoxysilane (IPTS) and isocyanate propyl triethoxysilane (TESPI). Its products are mainly used in new energy vehicles, electric two-wheelers, power tools, uninterruptible power supply system (UPS) power supplies, mobile base station power supplies, photovoltaic power plants and other fields. The Company mainly conducts its businesses in domestic and overseas markets.