Jowell Global Ltd.

Jowell Global Ltd. is a holding company incorporated in the Cayman Islands on August 16, 2019. The company primarily sells cosmetic products, nutritional supplements, and household products. These products are sourced from third-party manufacturers and distributors. Jowell Global also operates an online marketplace where third-party sellers can sell their products directly to the company's online consumers. A reorganization of the company's legal structure was completed on November 1, 2019. This reorganization involved the incorporation of Jowell Technology Limited, a Hong Kong holding company, on June 24, 2019, and Shanghai Jowell Technology Co., Ltd., a wholly foreign-owned entity in the People's Republic of China, on October 15, 2019. Shanghai Jowell Technology Co., Ltd. entered into contractual agreements with Shanghai Juhao Information Technology Co., Ltd. and its shareholders on October 31, 2019, and November 1, 2019, which were amended on October 10, 2020. These agreements grant Shanghai Jowell Technology Co., Ltd. exclusive rights to provide consulting services to Shanghai Juhao Information Technology Co., Ltd. regarding its business operations and management. In return for these services, Shanghai Juhao Information Technology Co., Ltd. pays service fees based on all of its net profit after tax payments to Shanghai Jowell Technology Co., Ltd., or Shanghai Jowell Technology Co., Ltd. is obligated to absorb all of Shanghai Juhao Information Technology Co., Ltd.'s losses. These agreements remain in effect until all parties agree to termination, except for the Exclusive Option Agreement, which has an effective term of 10 years and can be renewed for an additional 10 years.