Antelope Enterprise Holdings Limited announced that it has entered into a standby equity subscription agreement with three investors pursuant to which, the company will issue 10,000,000 Class A ordinary shares at an issue price of $1.12 per share for the gross proceeds of $11,200,000 on March 25, 2024. The Subscription Agreement contains customary representations, warranties, covenants, closing conditions and indemnification provisions. Sales under the Subscription Agreement may commence only after certain conditions have been satisfied, including the effectiveness of the Registration Statement.

The offer and sale of the Advance Shares issuable hereunder will be made in reliance upon the exemption afforded by Section 4(a)(2) under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the ?Securities Act?), or upon such other exemption from the registration requirements of the Securities Act as may be available with respect to any or all of the transactions to be made hereunder.