Company: JWEL
Filing Date: 2025-08-26
Form Type: F-3
Source: 0001213900-25-080759
Chunk: 24

Company: Jowell Global Ltd.
Filing Date: 2025-08-26
Form: F-3
Chunk 24
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 provided to the VIE through the Equity Interest Pledge Agreement. In order to further reinforce WFOE’s rights to operate
the variable interest entity to consolidate financial results of the VIE in our financial statements under U.S. GAAP, the VIE’s
shareholders have granted WFOE an exclusive right and option to acquire all of their equity interests in the VIE through the Exclusive
Option Agreement.

On October 31, 2019 and November
1, 2019, Jowell Shanghai entered into a series of contractual arrangements with Shanghai Juhao and the shareholders of Shanghai Juhao,
as amended on October 10, 2020. These agreements include: 1) an Exclusive Business Cooperation and Management Agreement; 2) an Equity
Interest Pledge Agreement; 3) an Exclusive Option Agreements; 4) Powers of Attorney, and 5) Spousal Consent Letters, which are described
as follows:

Pursuant to the Exclusive
Business Cooperation and Service Agreement between Shanghai Juhao and Jowell Shanghai, Jowell Shanghai provides Shanghai Juhao with complete
business support, operational management and technical and consulting services, on an exclusive basis, and Shanghai Juhao is obligated
to pay an annual service fee to Jowell Shanghai equal to the annual net income of Shanghai Juhao. Jowell Shanghai shall have exclusive
and proprietary rights and interests in all rights, ownership, interests and intellectual properties arising out of or created during
the performance of this agreement, including but not limited to copyrights, patents, patent applications, software, technical secrets,
trade secrets and others. The term of the agreement shall be continuously effective unless mutually terminated by all parties in
writing.

<div align='center'>5</div>

Under the Equity Interest
Pledge Agreement by and among Jowell Shanghai, Shanghai Juhao and shareholders of Shanghai Juhao, shareholders of Shanghai Juhao pledged
all of the equity interest that they now and in the future hold in Shanghai Juhao to Jowell Shanghai to guarantee the performance of Shanghai
Juhao’s obligations and payment of service fees under the Exclusive Business Cooperation and Service Agreement (“Service Agreement”).
Prior to the full payment of the service fees in the Service Agreement, without the Jowell Shanghai’s written consent, pledgors shall
not assign the pledge or their equity interest in Shanghai Juhao. Upon the full payment of the service fees under the Service Agreement
and upon termination of Shanghai Juhao’s obligations under