SEII subsidiary signs JV framework for metaverse platform; to hold 60% stake

SHARING ECONOMY INTERNATIONAL INC.

3D Discovery Co., wholly-owned SEII subsidiary, signed Strategic Framework Agreement on April 1, 2022 with Suzhou Su Xin Rui Shi Technology.
JV will be 60% owned by SEII's unit and 40% by SXRS Tech; formal Joint Venture Cooperation Agreement due within 45 days.
JV to develop metaverse platform leveraging SXRS Tech's naked-eye 3D display and real-time rendering technology.
Binding exclusivity and confidentiality obligations apply during 45-day due diligence period.
Non-binding except for exclusivity, confidentiality, and governing law provisions.

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