Certain A Shares of Nanjing Bestway Intelligent Control Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 1-AUG-2023. These A Shares will be under lockup for 372 days starting from 25-JUL-2022 to 1-AUG-2023.

Details:
Controlling shareholders and actual controllers and the company?s director Duan Ruofan holdings promised 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 months 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 and within 6 months from registration shall not transfer shares of the issuer held directly or indirectly.

Shareholder Nanjing Lutai Management Consulting Partnership (Limited Partnership)'s commitment on the lock-up of shares and their intention to reduce their holdings 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.

Shareholder Nanjing Luxing Management Consulting Partnership (Limited Partnership), Nanjing Luxiu Management Consulting Partnership (Limited Partnership), Nanjing Luqi Management Consulting Partnership (Limited Partnership) and Zhengzhou Coal Mining Machinery Group Company Limited?s commitment to share lock-up and intention to reduce holdings within 12 months from the date of listing of the issuer?s shares, the issuer shall not transfer or entrust others to manage the issuer?s directly or indirectly held shares that have been issued prior to the initial public offering and shall not propose that the issuer repurchase such shares.

Directors or senior executives Zhang Yongxin, Jiang Yuxin, Chen Yan's commitment on the lock-up of shares 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 months 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.

Supervisors Wan Min and Sheng Min's commitment on the lock-up of shares within 12 months from the date of listing of the issuer?s shares, the issuer shall not transfer or entrust others to manage the issuer?s directly or indirectly held shares that have been issued prior to the initial public offering and shall not propose that the issuer repurchase such shares. 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.

Shareholders Nanjing Luxing Management Consulting Partnership Enterprise (Limited Partnership), Nanjing Luxiu Management Consulting Partnership Enterprise (Limited Partnership), and Nanjing Luqi Management Consulting Partnership Enterprise (Limited Partnership)?s commitment on the lock-up of shares within 12 months after the listing date, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the shares.

Shareholder Zhengzhou Coal Mining Machinery Group Company Limited?s commitment on the lock-up shares within 12 months after the listing date or 36 months from the date on which the issuer of the company's investment and shareholding completes the industrial and commercial change registration procedures, whichever is longer, shall not transfer nor entrust to others for management direct or indirect shares in the company held prior to this issuance, nor allow the company to repurchase the said shares.