<div id="readability-page-1"><div><p>Certain A Shares of Air China Cargo Co., Ltd. are subject to a Lock-Up Agreement Ending on 30-DEC-2025. These A Shares will be under lockup for 372 days starting from 23-DEC-2024 to 30-DEC-2025.</p><p>  Details:<br/> The Company?s directors and senior management who are indirect shareholders 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. After the lock-up has expired, while holding office, they committed to not transfer more than 25% of shares held each year. </p><p>  The Company?s holding shareholder China Aviation Capital Holding Co., Ltd. and actual controller China National Aviation Holding Company 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. </p><p>  The Company?s shareholder Tianjin Yuchi Enterprise Management Partnership Enterprise (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.</p><p>  The Company?s shareholders Cathay Pacific China Cargo Holdings Co., Ltd., Fine Star Enterprises Corp., Zhejiang Cainiao Supply Chain Management Co., Ltd., Shenzhen International Holdings Co., Ltd., and Hangzhou Guogai Shuangbai Innovation Equity Investment Partnership Enterprise (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.</p><p>The offline issuance part adopts a proportional restriction method, and offline investors shall promise that the restriction period of 10% (rounded up) of the number of shares allocated to them shall be 6 months from the date of the initial public offering and listing of Air China Cargo Co., Ltd. That is, among the shares allocated to each allotment object, 90% of the shares have no restriction period and can be circulated from the date of listing and trading of the issued shares on the Shenzhen Stock Exchange, 10% of the shares have a restriction period of 6 months, which starts from the date of listing and trading of the issued shares on the Shenzhen Stock Exchange.</p></div></div>

中国国航

<p>中国国航货运有限公司在 2025 年 12 月 30 日前有一定数量的 A 股受到锁定协议的限制。锁定期从 2024 年 12 月 23 日开始，持续 372 天。董事和高级管理人员在上市后 36 个月内不得转让其股份。如果在 6 个月内，股价连续 20 个交易日低于发行价，锁定期将延长 6 个月。其他股东也有类似的承诺。此外，分配给线下投资者的 10% 股份将在 IPO 日期起有 6 个月的限制，而 90% 的股份在上市后可以立即流通</p>

中国国航货运有限公司的部分 A 股受到锁定协议的限制，该协议将于2025年12月30日到期