Certain A Shares of Road Environment Technology.,Ltd are subject to a Lock-Up Agreement Ending on 22-SEP-2023. These A Shares will be under lockup for 1104 days starting from 13-SEP-2020 to 22-SEP-2023.

Details:
The Company?s holding shareholder and actual controller Li Guangming, Company?s shareholder Bai Caiqun and ESOP Wuhan Detian Zhongxiang Business Management Partnership Enterprise (Limited Partnership) committed to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

Shareholder and senior management Wu Jun, Company?s other shareholders committed: to not transfer or entrust to a third party the Company?s shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.