Tranche Update on Zhejiang Taotao Vehicles Co., Ltd.'s Equity Buyback Plan announced on February 5, 2024.

Zhejiang Taotao Vehicles Co Ltd is a China-based company mainly engaged in the research, development, production and sales of automobiles, electric vehicles and their accessories for outdoor recreation and short-distance transportation. The Company's products include electric vehicles, go-karts, motorcycles, farm vehicles, snowmobiles, off-road vehicles, electric scooters and electric balance vehicles. The Company also makes helmets and other accessories. The Company's products are sold to countries such as the United States and Canada.