LandOcean Energy Services Co.,Ltd. announced that it has entered into conditional share subscription agreement for a private placement of not more than 213,633,743 A shares of par value CNY 1 per share, at an issue price of CNY 3.11 per share for gross proceeds of not more than CNY 664,400,940 on May 17, 2022. The transaction will include participation Beijing Shuosheng Technology Information Consulting Co., Ltd. for 71,211,248 shares, Hebei Shuocheng Intelligent Technology Co., Ltd. for 71,211,247 shares, and individual investor Li Liping for 71,211,248 shares. All shares to be issued in the transaction cannot be transferred for a period of 36 months from the closing date.

The transaction has been approved in the 9th meeting of the fifth board of directors of the company, and is subject to the approvals of the company's shareholders, Shenzhen Stock Exchange and the China Securities Regulatory Commission.