Certain A Shares of Wankai New Materials Co., Ltd. are subject to a Lock-Up Agreement Ending on 29-MAR-2024. These A Shares will be under lockup for 737 days starting from 23-MAR-2022 to 29-MAR-2024.

Details:
Zhejiang Zhink Group Co., Ltd., the Company´s controlling shareholder; Shen Xiaoling, a close relative of the company's actual controller committed within 36 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months.

The company?s actual controller and chairman Shen Zhigang; The company?s actual controller and chairman Shen Zhigang committed within 36 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

The company's directors, supervisors and senior managers who directly hold the company's shares, Li Hai, Yang Fengchun, and Qiu Zengming promise to lock in and reduce their holdings within 12 months since the date of listing of the present shares, there will not be no transfers nor entrustment of shares to any third party nor repurchase by the Company. If, within 6 months after the issuer's listing, the closing price of the shares is lower than issuance price for 20 consecutive trading days or if trading price is lower than issuance price after 6 month from listing, lock-up period will be automatically extended for another 6 months. After the expiry of the lock-up period (including the extended lock-up period), during the time serves as the company director, supervisor and senior manager, the party promise that yearly transfer of shares made by him/her will not exceed 25% of the holding.

Royal Heart Investment Limited and Other shareholders committed within 12 months from the date of listing of Wankai New Materials? stocks, the company will not transfer or entrust others to manage the company?s directly or indirectly held shares of Wankai New Materials that have been issued before the issuance, and shall not be subject to Wankai New Materials repurchased this part of the shares.