UTime Ltd

SHARE INCREASE PROPOSAL

Proposal 1 asks shareholders to approve, by ordinary resolution, an increase the authorized share capital of the Company from US$450,100,000 divided into (i) 90,000,000 Class A ordinary shares, of a par value of US$5.0 each and (ii) 100,000,000 Class B ordinary shares, of a par value of US$0.001 each, to US$50,001,000,000 divided into: (i) 10,000,000,000 Class A ordinary shares, of a par value of US$5.0 each and (ii) 1,000,000,000 Class B ordinary shares, of a par value of US$0.001 each, by the creation of an additional 9,910,000,000 Class A ordinary shares, of a par value of US$5.0 each; and 900,000,000 Class B ordinary shares, of a par value of US$0.001 each.

The Board believes that the Share Increase Proposal is in the best interests of the Company and its shareholders because it will provide the Company with additional flexibility to issue ordinary shares in connection with future financings, strategic transactions, equity incentive arrangements and other general corporate purposes.

“RESOLVED, AS AN ORDINARY RESOLUTION, THAT, the authorised share capital of the Company be increased:

from US$450,100,000 divided into: (i) 90,000,000 Class A ordinary shares, of a par value of US$5.0 each and (ii) 100,000,000 Class B ordinary shares, of a par value of US$0.001 each,

to US$50,001,000,000 divided into: (i) 10,000,000,000 Class A ordinary shares, of a par value of US$5.0 each and (ii) 1,000,000,000 Class B ordinary shares, of a par value of US$0.001 each,

by the creation of an additional: (A) 9,910,000,000 Class A ordinary shares, of a par value of US$5.0 each; and (B) 900,000,000 Class B ordinary shares, of a par value of US$0.001 each.”

Assuming that a quorum is present, the approval of the Share Increase Proposal requires an ordinary resolution as a matter of Cayman Islands law, being the affirmative vote the holders of at least a majority of the Ordinary Shares, who, being present (either in person or by proxy) and entitled to vote at the Extraordinary General Meeting, vote at the Extraordinary General Meeting.