Certain A Shares of Zhejiang Taotao Vehicles Co., Ltd. are subject to a Lock-Up Agreement Ending on 22-MAR-2024. These A Shares will be under lockup for 374 days starting from 14-MAR-2023 to 22-MAR-2024.

Details:
Shareholder Zhejiang Zhongtao Investment Co., Ltd., has committed Within 36 months after the listing date, shall 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 shall automatically be extended for 6 months.

Actual controller Cao Matao has committed Within 36 months after the listing date, shall 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 lockup period, during the term of office in the company as director, supervisor, management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company. 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 shall automatically be extended for 6 months.

The company?s shareholder Cao Xiashu and Jinyun Zhongjiu Investment Partnership Enterprise (Limited Partnership) ?Jinyun Zhongbang Investment Partnership Enterprise (Limited Partnership) have committed 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 issuance, nor allow the company to repurchase the said shares.

Shareholders Ningbo Meishan Bonded Port Area Zhefu Jufeng Equity Investment Partnership Enterprise (Limited Partnership); Tonglu Zhefu Tongjun Equity Investment Partnership Enterprise (Limited Partnership); Lai Zhongyi; Wang Zhongyi; Qiu Yimin and Wang Airu have committed Within 12 months after the listing date, shall 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.

Shareholder, director, senior management personnel Sun Yong have committed Within 12 months after the listing date, shall 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 shall automatically be extended for 6 months. After the expiration of the lockup period, during the term of office in the company as director, supervisor, management personnel, the number of shares in the company transferred each year shall not exceed 25% of the total shares held in the company.