Certain A Shares of Hangzhou Guotai Environmental Protection Technology Co., Ltd. are subject to a Lock-Up Agreement Ending on 5-APR-2024. These A Shares will be under lockup for 372 days starting from 30-MAR-2023 to 5-APR-2024.

Details:
The company?s actual controller, holding shareholder Chen Boxiao promised that within 36 months after the listing date, will 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. 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. After the expiration of the above lockup period, during the term of office in the company and within 6 months after the expiration of the term of office, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

The company?s actual controller Lv Wei promised that within 36 months after the listing date, will 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. 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 shareholders Xu Rongmin, Zhang Qianyan and Wang Xiaozhi promised that within 12 months after the listing date, will 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.

Zhejiang Guotai Construction Group Co.,Ltd., Jiangxi Wenxin Industrial Co., Ltd., GF Qianhe Investment Co., Ltd., Hangzhou Yongtong Investment Management Co., Ltd., Suzhou Jinshajiang United Phase III Equity Investment Partnership Enterprise (Limited Partnership), Suzhou Zhongxin Botong Jinshi Venture Capital Partnership Enterprise (Limited Partnership) promised that 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.

Directors, supervisors, management personnel Wang Gang, Zhao Guangming, Shen Jialiang, Xia Yukun, Li Xiuqing promised that within 12 months after the listing date, will 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. After the expiration of the above lockup period, during the term of office in the company and within 6 months after the expiration of the term of office, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.

Chen Huaqin promised that within 36 months after the listing date, will 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. After the expiration of the above lockup period, during the term of office in the company and within 6 months after the expiration of the term of office, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.