Company: JWEL
Filing Date: 2025-08-26
Form Type: F-3
Source: 0001213900-25-080759
Chunk: 35

Company: Jowell Global Ltd.
Filing Date: 2025-08-26
Form: F-3
Chunk 35
---
 that the
liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances,
such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which
a court may be prepared to pierce or lift the corporate veil).

<div align='center'>13

DESCRIPTION OF PREFERRED SHARES</div>

As of the date of this prospectus, there are 46,875
Preferred Shares issued and outstanding.

Conversion.Each Preferred Share is convertible
into one (1) ordinary share at any time at the option of the holder thereof. In no event shall Ordinary Shares be convertible into Preferred
Shares.

Voting Rights. Each share of Preferred
Shares shall have the voting rights equal to two (2) Ordinary Shares.

Dividends.Except for voting rights and
conversion rights as set out hereof, the Ordinary Shares and the Preferred Shares shall rank pari passu with one another and shall
have the same rights, preferences, privileges and restrictions.

Assignment and Transfer. The holders of
Preferred Shares shall have the right to transfer each share of the Preferred Shares to any third-party at any time in such holder’s
sole and absolute discretion, subject to compliance with applicable securities laws. Upon any sale, transfer, assignment or disposition
of any Preferred Share by a shareholder to any person who is not an affiliate of such shareholder, or upon a change of control of any
Preferred Share to any person who is not an affiliate of the registered shareholder of such share, such Preferred Share shall be automatically
and immediately converted into one (1) ordinary share.

Our board of directors is
empowered to designate and issue from time to time one or more classes or series of preferred shares and to fix and determine the relative
rights, preferences, designations, qualifications, privileges, options, conversion rights, limitations and other special or relative rights
of each such class or series so authorized. Such action could adversely affect the voting power and other rights of the holders of our
ordinary shares or could have the effect of discouraging any attempt by a person or group to obtain control of us. You should refer to
the prospectus supplement relating to the series of preferred shares being offered for the specific terms of that series, including:

| ● | title of the series and the number of shares in the series; |

| ● | the price at which the preferred shares will be offered; |

| ● | the dividend rate or rates or method of calculating