Certain A Shares of Xi'an Manareco New Materials Co.,Ltd are subject to a Lock-Up Agreement Ending on 2-SEP-2023. These A Shares will be under lockup for 1108 days starting from 20-AUG-2020 to 2-SEP-2023.

Details:
The company's shareholder Beijing Zhuoshihengli Equity Investment Partnership (Limited Partnership), and the actual controller Lu Haoping, Li Jianing and Liu Xiaochun 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. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests. After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

Shareholders holding 5% or more of the total issued share capital of the company Ningbo Guofu Yongyong Investment Partnership (limited partnership), Cheng Xiaobing, Wanjiang (Wuhu) Logistics Industry Investment Fund (Limited Partnership), Yangling Oriental Fortune Capital Modern Agriculture Biology Industry Equity Investment Enterprise (L.P.), Shenzhen Oriental Fortune Capital Co., Ltd. , Oriental Fuhai (Wuhu) Equity Investment Fund (Limited Partnership) and Oriental Fuhai (Wuhu) No. 2 Equity Investment Fund (Limited Partnership) within 24 months since the date of listing of the present shares in the Shanghai Stock Exchange, 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 month from listing, lock-up period will be automatically extended for another 6 months. If there is any case of dividends, bonus shares, capitalization of capital reserve and other similar cases, issue price will be adjusted according to ex-dividend and ex-interests. After the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. In the event of a resignation before the expiry of the term of office, the above-mentioned undertaking will continue to be maintained for six months. There will be no transfer of shares, directly or indirectly held, within 18 months from the date of declaration in case of resignation happening within 6 months from the date of listing of the company's shares; the first 7 months from the date of listing of the company's shares To the 12th month between the declaration of separation, since the declaration of departure within 12 months from the date of the transfer of the person directly or indirectly, the issuer shares. The directors, supervisors and senior managers who hold the company's shares within 24 months since the date of listing of the present shares in the Shanghai Stock Exchange, there will be no transfers nor entrustment of shares to any third party nor repurchase by the company. Core technical staffs of the company who hold the company shares promise to after the expiry of the lock-up period (including the extended lock-up period), the parties promise that yearly transfer of shares made by them will not exceed 25% of the holding, both direct and indirect, held by the present parties. After 6 months from rescindment, there will not be more transfers of shares, either direct or indirect.

The company?s shareholders Zhejiang Henglan Equity Investment Partnership (Limited Partnership), Zhejiang Puyongze Equity Investment Partnership (Limited Partnership), Zhejiang Qihuan Equity Investment Partnership (Limited Partnership) and other shareholders holding less than 5% of the shares of the company within 12 months since the date when the present enterprise holds shares of the company (using time of registering at the Industrial and Commercial Registering Authority as benchmark), there will not be no transfers nor entrustment of shares to any third party nor repurchase by the company.