Elegantization Group: Signs Lithium Spodumene Concentrate Purchasing and Sales Agreement

Yahua Group Announcement: Recently, the company has signed a "Subscription and Sales Agreement" with MGLIT Company. Yahua Group will purchase lithium spodumene concentrate from MGLIT Company within five years after stable production of lithium spodumene concentrate. The agreement is valid from the date of the first product shipment and has a term of five years, which can be extended by mutual agreement. The seller is required to sell and deliver at least 120,000 dry metric tons of lithium spodumene concentrate products to the buyer each contract year, with the product price determined based on the pricing method agreed upon by both parties, with a minimum price of $1,000 per dry metric ton. The buyer will provide a prepayment financing of $12 million to the seller.