On April 25, 2022, Refrigeration Electrical Engineering Corporation issued a decision to approve the record date to pay stock dividend for 2021 as follows:

-          Record date: May 18, 2022

1. Reason & Purpose: to pay stock dividend for 2021.
2. Content:

-          Expected issue volume: 46,357,639 shares

-          Exercise ratio: 100:15 (Those who own 100 shares will receive 15 new shares.)

-          Plan to deal with fractional shares: The distributed shares will be rounded down to units, the fractional shares (if any) will be cancelled.

-          For example: at the record date, shareholder A owns 315 shares. With 15% performing ratio, the shareholder A will receive: 315 *15% = 47.25 shares. According to rounding policy, the shareholder A will receive 47 new shares and the fractional shares of 0.25 share will be cancelled.

-          Transfer restriction: none.