Certain A Shares of Sinosteel Luonai Materials Technology Corporation are subject to a Lock-Up Agreement Ending on 6-JUN-2023. These A Shares will be under lockup for 371 days starting from 31-MAY-2022 to 6-JUN-2023.

Details:
The company's holding shareholder Sinosteel Technology Development Co., Ltd. committed to not transfer or entrust to a third party the company's shares they hold directly or indirectly before the issuance or allow the company to repurchase those shares within 36 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months.

The Company's ESOP's Luoyang Luonai Chuangyi Investment Management Center (Limited Partnership), Luoyang Luonai Chuang'er Investment Management Center (Limited Partnership), Luoyang Luonai Chuangsan Investment Management Center (Limited Partnership), Luoyang Luonai Chuangsi Investment Management Center (Limited Partnership), Luoyang Luonai Chuangwu Investment Management Center (Limited Partnership), Luoyang Luonai Chuanglu Investment Management Center (Limited Partnership), Luoyang Luonai Chuangqi Investment Management Center (Limited Partnership), Luoyang Luonai Chuangba Investment Management Center (Limited Partnership), Luoyang Luonai Chuangjiu Investment Management Center (Limited Partnership), Luoyang Luonai Chuangshi Investment Management Center (Limited Partnership), and Luoyang Luonai Chuangshiyi Investment Management Center (Limited Partnership) committed to not transfer or entrust to a third party the company's shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 36 months from the listing date.

The Company's directors and senior management committed to not transfer or entrust to a third party the company's shares they hold directly or indirectly before the issuance or allow the company to repurchase those shares within 12 months from the listing date. If within 6 months after the listing, the closing price of the shares is lower than the issuance price for 20 consecutive trading days or if the trading price is lower than the issuance price 6 months after listing, the lock-up period will be automatically extended for another 6 months. While holding office, they committed to transfer not more than 25% of shares held each year.

The company's supervisors, core technical employees, and shareholders Guoxin Shuangbai No. 1 (Hangzhou) Equity Investment Partnership Enterprise (Limited Partnership), Beijing Jianxianglong Technology Development Co., Ltd., Luoyang State Owned Assets Management Co., Ltd., Pingluo County Binhe Silicon Carbide Products Co., Ltd., Shenzhen Nandian Investment Holding Co., Ltd., and Tianjin Dingmao Zhonghe Enterprise Management Center (Limited Partnership) committed to not transfer or entrust to a third party the company's shares they hold directly or indirectly before the issuance, or allow the company to repurchase those shares within 12 months from the listing date. While holding office, the supervisors and core technical employees committed to transfer not more than 25% of shares held each year.