The Board of China Kepei Education Group Limited announced that on 15 July 2021 (after trading hours), the Company, Maanshan Fengzhi, Shenzhen Sunwin Intelligent Co., Ltd. (the Vendor), the Target School and the Guarantor entered into the Sponsorship Transfer Agreement, pursuant to which the Company has conditionally agreed to purchase, and the Vendor has conditionally agreed to sell, the 100% sponsorship interest in the Target School at a maximum consideration of RMB 550,000,000 (subject to adjustments). The Board announced that on 15 July 2021 (after trading hours), the Company, Maanshan Fengzhi, the Vendor, the Target School and the Guarantor entered into the Sponsorship Transfer Agreement. The principal terms of the Sponsorship Transfer Agreement are summarized below: Parties: The Company; Maanshan Fengzhi; the Vendor; the Target School; and the Guarantor. To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, each of the Vendor, the Target School and the Guarantor as well as their respective ultimate beneficial owners (if applicable) is a third party independent of the Company and its connected persons. Subject Matter: Pursuant to the Sponsorship Transfer Agreement, the Company has conditionally agreed to purchase, and the Vendor have conditionally agreed to sell, the 100% sponsorship interest of the Target School at a maximum consideration of RMB 550,000,000 (subject to adjustments). Consideration and Payment Terms: The maximum consideration payable by the Company under the Sponsorship Transfer Agreement shall be RMB 550,000,000, subject to potential adjustments computed based on the financial statements of the Target School to be agreed by the parties.