Certain A Shares of Kale Environmental Technology (Shanghai) Corporation are subject to a Lock-Up Agreement Ending on 24-SEP-2023. These A Shares will be under lockup for 741 days starting from 13-SEP-2021 to 24-SEP-2023.

Details:
The company?s holding shareholder, actual controller, chairman of the board Lu Xiaobo, and actual controller, director Yu Qingfan promised within 36 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. During the term of office as the company?s director, supervisor or management personnel, the number of shares in the company transferred each year will not exceed 25% of the total shares held in the company.

The company?s directors Xiong Wei, Xing Tian, Xiao Yongzheng, supervisors Li Hongtao, Lu Rongqing, Sun Kai, and management personnel Liu Xiaoliang, Jin Yuan promised within 12 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to this issuance, nor allow the company to repurchase the said shares. During the term of office as the company?s director, supervisor or management personnel, the number of shares in the company transferred each year will not exceed 25% of the total shares held in the company. 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 6 months.

The company?s other shareholders Gongqingcheng Ruibo Investment Management Partnership Enterprise (Limited Partnership), Ningbo Dingyou Enterprise Management Partnership Enterprise (Limited Partnership), Gongqingcheng Linghui Investment Management Partnership Enterprise (Limited Partnership), Transfar Holding Group Co., Ltd., Henan Hongke Military-Civilian Integration Industry Investment Fund (Limited Partnership) , Xinyu Yipeng Investment Management Center (Limited Partnership), Shanghai Zhizhao Investment Management Center (Limited Partnership) Promised within 12 months after the listing date, will not transfer nor entrust to others for management shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.