Company: EZOO
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001641172-25-010460
Chunk: 23

Company: Ezagoo Ltd
Filing Date: 2025-05-15
Form: 10-K
Item: Item 7A
Chunk 23
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L the ability to conduct and control company affairs of Beijing Ezagoo Zhicheng Internet Technology Limited herein as “BEZL”
(formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). Actions which management of CETL may be able to carry out include,
but are not limited to, exercising voting rights as proxy of the existing shareholder(s), appointing new directors, hiring new management,
and carrying out corporate actions.

On
July 20, 2018, CETL entered into and consummated an agreement with BEID (formerly known as BESH) and RFLL whereas BEID (formerly known
as BESH) and RFLL have engaged CETL to provide management, financial, and other business services to Beijing Ezagoo Zhicheng Internet
Technology Limited herein as “BEZL” (formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited). CETL is to be
compensated with 100% of all profits generated by Hunan Ezagoo Zhicheng Internet Technology Limited. This Agreement is effective as of
July 20, 2018 and will continue in effect for a period often (10) years (the “Initial Term”), and for succeeding periods
of the same duration (each, “Subsequent Term”), until terminated by one of the following means either during the Initial
Term or thereafter: Mutual Consent, Termination by CETL, Breach or Insolvency. Beijing Ezagoo Zhicheng Internet Technology Limited
(formerly known as Hunan Ezagoo Zhicheng Internet Technology Limited) is considered to be a variable interest entity to Changsha Ezagoo
Technology Limited, and therefore a VIE of the issuer, Ezagoo Limited, a Nevada Company.

On
July 20, 2018, CETL entered into and consummated an agreement with BEID (formerly known as BESH) and RFLL whereas BEID (formerly
known as BESH) and RFLL have pledged their equity interests in Beijing Ezagoo Zhicheng Internet Technology Limited (formerly known as
Hunan Ezagoo Zhicheng Internet Technology Limited), to CETL. More information regarding this agreement can be found in exhibit 10.4,
titled, “Equity Pledge Agreement.”

On
July 20, 2018, CETL entered into a loan agreement with BEID (formerly known as BESH) and RFLL wherein CETL will loan the amount of approximately
C