<SEC-DOCUMENT>0001193805-25-001026.txt : 20250716
<SEC-HEADER>0001193805-25-001026.hdr.sgml : 20250716
<ACCEPTANCE-DATETIME>20250715214457
ACCESSION NUMBER:		0001193805-25-001026
CONFORMED SUBMISSION TYPE:	PRE 14A
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20250904
FILED AS OF DATE:		20250716
DATE AS OF CHANGE:		20250715

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GULF RESOURCES, INC.
		CENTRAL INDEX KEY:			0000885462
		STANDARD INDUSTRIAL CLASSIFICATION:	CHEMICALS & ALLIED PRODUCTS [2800]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				133637458
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PRE 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34499
		FILM NUMBER:		251126084

	BUSINESS ADDRESS:	
		STREET 1:		LEVEL 11, VEGETABLE BUILDING
		STREET 2:		INDUSTRIAL PARK OF THE EAST CITY
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262700
		BUSINESS PHONE:		86 (536) 567-0008

	MAIL ADDRESS:	
		STREET 1:		LEVEL 11, VEGETABLE BUILDING
		STREET 2:		INDUSTRIAL PARK OF THE EAST CITY
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262700

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIVERSIFAX INC
		DATE OF NAME CHANGE:	19940331
</SEC-HEADER>
<DOCUMENT>
<TYPE>PRE 14A
<SEQUENCE>1
<FILENAME>e664697_pre14a-gulf.htm
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 130.1pt; text-align: center">FUNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">SCHEDULE 14A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">(Rule 14a-101)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.55pt; text-align: center">INFORMATION REQUIRED IN
PROXY STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.55pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.55pt; text-align: center">SCHEDULE 14A INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.55pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center">Proxy Statement Pursuant to Section
14(a) of the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><B>Filed by the Registrant</B> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><B>Filed by a Party other than the Registrant</B> <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><B>Check the appropriate box:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&#9746;&nbsp;</TD><TD><B>Preliminary Proxy Statement</B></TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 21.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 21.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD><B>Definitive Proxy Statement</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 21.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD><B>Definitive Additional Materials</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 21.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD><B>Soliciting Material Pursuant to &sect;240.14a-12</B></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">Gulf Resources, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">(Name of Registrant as Specified
in Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 101.1pt 0pt 5.45pt; text-indent: 127.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.45pt; text-indent: 0pt">Payment of Filing Fee (Check the appropriate
box):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&#9746;&nbsp;</TD><TD>No
fee required.</TD></TR>
                                                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 21.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD>Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(1)</TD><TD>Title of each class of securities to which transaction applies:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                                                                              </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(2)</TD><TD>Aggregate number of securities to which transaction applies:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                           <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                                                                           </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(3)</TD><TD STYLE="padding-right: 10.25pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11
(set forth the amount on which the filing fee is calculated and state how it was determined):</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="padding-right: 10.25pt">&nbsp;</TD></TR>
                                                                                                       <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; padding-right: 10.25pt">&nbsp;</TD></TR>
                                                                                                       </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(4)</TD><TD>Proposed maximum aggregate value of transaction:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                               <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                                                               </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(5)</TD><TD>Total fee paid:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                              <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                              </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 21.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD>Fee paid previously with preliminary materials.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 21.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="padding-right: 12.75pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify
the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form
or Schedule and the date of its filing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(1)</TD><TD>Amount Previously Paid:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                                      </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(2)</TD><TD>Form, Schedule or Registration Statement No.:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                            <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                                                            </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(3)</TD><TD>Filing Party:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                            <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                            </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 27.2pt"></TD><TD STYLE="width: 27.2pt">(4)</TD><TD>Date Filed:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
                                                                                          </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 130.1pt; text-align: center">GULF RESOURCES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.55pt; text-align: center"><B>Level 11, Vegetable Building,
Industrial Park of the East City, Shouguang City, Shandong Province 262700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center"><B>The People&rsquo;s Republic
of China</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;_________________________&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">NOTICE OF ANNUAL MEETING
OF STOCKHOLDERS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">to be held on September
4, 2025</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;_________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">TO THE STOCKHOLDERS OF Gulf Resources, Inc.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Annual
Meeting of the stockholders of Gulf Resources, Inc., a Nevada corporation (&ldquo;Company&rdquo;), will be held on September 4, 2025,
at 10:00 a.m. (local time), at the company&rsquo;s headquarters located at Level 11, Vegetable Building, Industrial Park of the East City,
Shouguang City, Shandong Province 262700, the People&rsquo;s Republic of China, for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">1.</TD><TD STYLE="padding-right: 5.65pt">To elect seven directors named in the Proxy Statement, to hold office for a one-year term or until their
successors are elected and qualified;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">2.</TD><TD STYLE="padding-right: 5.65pt">To ratify the appointment of GGF CPA LTD., independent public accountants, as the auditor of the Company
for the fiscal year 2025;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 19.55pt; text-indent: -27.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">3.</TD><TD STYLE="padding-right: 5.65pt">To approve a reverse split of the Company&rsquo;s common stock, par value $0.0005 (the &ldquo;Common
Stock&rdquo;) on the basis of one (1) share for every two (2) to ten (10) outstanding shares of Common Stock, subject to the discretion
of the Board of Directors, so that two (2) to ten (10) outstanding shares of Common Stock before the reverse stock split shall represent
one (1) share of Common Stock after the reverse stock split;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">4.</TD><TD STYLE="padding-right: 5.65pt">To approve the Gulf Resources Inc. 2025 Stock Incentive Plan;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">5.</TD><TD STYLE="padding-right: 5.65pt">To conduct an advisory vote to approve the compensation paid to the Company&rsquo;s named executive
officers, as disclosed under the caption Election of Directors &ndash; Executive Compensation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 19.55pt; text-indent: -27.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">6.</TD><TD STYLE="padding-right: 5.65pt">To transact any other business as may properly be presented at the Annual Meeting or any adjournment
thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Stockholders
of record of the Company&rsquo;s Common Stock at the close of business on July 18, 2025 are entitled to notice of, and to vote at, the
Annual Meeting or any adjournment or postponement thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Your attention
is directed to the Proxy Statement accompanying this Notice for a more complete statement of matters to be considered at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in"><B>All stockholders
are cordially invited to attend the meeting. Whether or not you expect to attend, you are respectfully requested by the Board of Directors
to sign, date and return the enclosed proxy promptly, or follow the instructions contained in the Notice of Availability of Proxy Materials
to vote on the Internet. Stockholders who execute proxies retain the right to revoke them at any time prior to the voting thereof. If
you received this proxy statement in the mail, a return envelope is enclosed for your convenience.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">YOUR
VOTE IS IMPORTANT. YOU ARE REQUESTED TO CAREFULLY READ THE PROXY STATEMENT. PLEASE VOTE ON THE INTERNET. IF THIS PROXY STATEMENT WAS MAILED
TO YOU, COMPLETE, DATE, SIGN AND RETURN YOUR PROXY IN THE ENCLOSED ENVELOPE. YOU MAY ALSO ATTEND THE MEETING TO VOTE IN PERSON.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.45pt">By Order of the Board of Directors,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-left: 5.45pt; font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><U>/s/ Xiaobin Liu</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 5.45pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-left: 5.45pt; font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Xiaobin Liu</P>

<P STYLE="margin-left: 5.45pt; font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Chairman of the Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 5.45pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 5.45pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Dated: &#9;&nbsp;&nbsp;, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 5.45pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 5.45pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 5.45pt; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 130.1pt; text-align: center">GULF RESOURCES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.55pt; text-align: center"><B>Level 11, Vegetable Building,
Industrial Park of the East City, Shouguang City, Shandong Province 262700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center"><B>The People&rsquo;s Republic
of China</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">_________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">PROXY STATEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>for</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Annual Meeting of Stockholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>to be held on September 4, 2025</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">_________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">INTRODUCTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Your proxy
is solicited by the Board of Directors of Gulf Resources, Inc., a Nevada corporation (the &ldquo;<U>Company,</U>&rdquo; &ldquo;<U>we</U>,&rdquo;
&ldquo;<U>us</U>&rdquo; or &ldquo;<U>our</U>&rdquo;), for use at the Annual Meeting of Stockholders to be held on September 4, 2025, at
10:00 a.m. (local time) Beijing Standard Time (the &ldquo;<U>Annual Meetin</U>g&rdquo;), at the company&rsquo;s headquarters located at
Level 11, Vegetable Building, Industrial Park of the East City, Shouguang City, Shandong Province 262700, the People&rsquo;s Republic
of China, for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.95pt"></TD><TD STYLE="width: 3%">1.</TD><TD STYLE="padding-right: 5.65pt">To elect seven directors named in the Proxy Statement, to hold office for a one-year term or until their
successors are elected and qualified;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">2.</TD><TD STYLE="padding-right: 5.65pt">To ratify the appointment of GGF CPA LTD., independent public accountants, as the auditor of the Company
for the fiscal year 2025;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 19.55pt; text-indent: -27.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">3.</TD><TD STYLE="padding-right: 5.65pt">To approve a reverse split of the Company&rsquo;s common stock, par value $0.0005 (the &ldquo;Common
Stock&rdquo;) on the basis of one (1) share for every two (2) to ten (10) outstanding shares of Common Stock, subject to the discretion
of the Board of Directors, so that two (2) to ten (10) outstanding shares of Common Stock before the reverse stock split shall represent
one (1) share of Common Stock after the reverse stock split;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">4.</TD><TD STYLE="padding-right: 5.65pt">To approve the Gulf Resources Inc. 2025 Stock Incentive Plan;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">5.</TD><TD STYLE="padding-right: 5.65pt">To conduct an advisory vote to approve the compensation paid to the Company&rsquo;s named executive
officers, as disclosed under the caption Election of Directors &ndash; Executive Compensation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 19.55pt; text-indent: -27.2pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 3%">6.</TD><TD STYLE="padding-right: 5.65pt">To transact any other business as may properly be presented at the Annual Meeting or any adjournment
thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Board
of Directors set July 18, 2025 as the record date (the &ldquo;<U>Record Date</U>&rdquo;) to determine those holders of common stock of
the Company (the &ldquo;<U>Common Stock</U>&rdquo;), who are entitled to notice of, and to vote at, the Annual Meeting. A list of the
stockholders entitled to vote at the meeting may be examined at the Company&rsquo;s office at Level 11, Vegetable Building, Industrial
Park of the East City, Shouguang City, Shandong Province 262700, the People&rsquo;s Republic of China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in"><B>On or about
July 29, 2025, the Company shall mail to all stockholders of record, as of the Record Date, a Notice of Availability of Proxy Materials
(the &ldquo;<U>Notice</U>&rdquo;). Please carefully review the Notice for information on how to access the Notice of Annual Meeting, Proxy
Statement, proxy card and Annual Report on <U>www.proxyvote.com</U>, in addition to instructions on how you may request to receive a paper
or email copy of these documents. There is no charge to you for requesting a paper copy of these documents.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">GENERAL INFORMATION ABOUT
VOTING</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Who can vote?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">You can vote
your shares of Common Stock if our records show that you owned the shares on the Record Date. As of the close of business on the Record
Date, a total of 13,346,618 shares of Common Stock are entitled to vote at the Annual Meeting. Each share of Common Stock is entitled
to one vote on matters presented at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">How do I vote by proxy?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">If you have
received a printed copy of these materials by mail, you may simply complete, sign and return your proxy card in the mail. If you did not
receive a printed copy of these materials by mail and are accessing them on the Internet, you may simply follow the instructions below
to submit your proxy on the Internet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">What if I received a Notice of Availability of proxy
materials?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">In accordance
with rules and regulations adopted by the Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;), instead of mailing a printed
copy of our proxy materials to each stockholder of record, we may now furnish proxy materials to our stockholders on the Internet. If
you received a Notice by mail, you will not receive a printed copy of the proxy materials. Instead, the Notice will instruct you as to
how you may access and review all of the important information contained in the proxy materials. The Notice also instructs you as to how
you may submit your proxy on the Internet. If you received a Notice by mail and would like to receive a printed copy of our proxy materials,
including a proxy card, you should follow the instructions for requesting such materials included in the Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">If I am a stockholder of record, how do I cast my vote?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">If you are a stockholder of record, you may vote in person
at the Annual Meeting. We will give you a ballot when you arrive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">If you do
not wish to vote in person or you will not be attending the Annual Meeting, you may vote by proxy. If you received a printed copy of these
proxy materials by mail, you may vote by proxy using the enclosed proxy card, complete, sign and date your proxy card and return it promptly
in the envelope provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">If you received
a Notice by mail, you may vote by proxy over the Internet by going to www.proxyvote.com to complete an electronic proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">If you vote by proxy, your vote must be received by 12:00
p.m. U.S. Eastern Standard Time on September 3, 2025 to be</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">We provide
Internet proxy voting to allow you to vote your shares on-line, with procedures designed to ensure the authenticity and correctness of
your proxy vote instructions. However, please be aware that you must bear any costs associated with your Internet access, such as usage
charges from Internet access providers and telephone companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">What if other matters come up at the Annual Meeting?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The matters
described in this proxy statement are the only matters we know of that will be voted on at the Annual Meeting. If other matters are properly
presented at the meeting, the proxy holders will vote your shares as they see fit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Can I change my vote after I return my proxy card?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">Yes. You can revoke your proxy at any time before it is
exercised at the Annual Meeting in any of three ways:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.75pt; text-indent: 0.45pt"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>by submitting written notice revoking your proxy card to the Secretary of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.75pt; text-indent: 0.45pt"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>by submitting another proxy via the Internet or by mail that is later dated and, if by mail, that is properly signed; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.75pt; text-indent: 0.45pt"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>by voting in person at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Can I vote in person at the Annual Meeting rather than
by completing the proxy card?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Although we
encourage you to complete and return the proxy card or vote by proxy on the Internet to ensure that your vote is counted, you can attend
the Annual Meeting and vote your shares in person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">How are votes counted?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">We will hold
the Annual Meeting if holders representing a majority of the shares of Common Stock issued and outstanding and entitled to vote in person
or by proxy either sign and return their proxy cards, submit their proxy on the Internet, or attend the meeting. If you sign and return
your proxy card, or submit your proxy on the Internet, your shares will be counted to determine whether we have a quorum even if you abstain
or fail to vote on any of the proposals listed on the proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The election
of directors under Proposal 1 will be approved by the affirmative vote of a plurality of the shares of Common Stock, represented in person
or by proxy at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Proposal 2 shall be approved upon the vote of a
majority of shares present in person or represented by proxy at the meeting. An abstention with respect to Proposal 2 will have the effect
of a vote &ldquo;AGAINST&rdquo; such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;Proposal 3 shall be approved upon the affirmative
vote of the majority of shares of Common Stock issued and outstanding on the record date. Abstentions and broker non-votes with respect
to Proposal 3 will have the effect of a vote &ldquo;AGAINST&rdquo; such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 30.55pt">Proposal 4 shall be approved upon
the vote of a majority of shares present in person or represented by proxy at the meeting. Abstention and broker non-votes with respect
to Proposal 4 will have the effect of a vote &ldquo;AGAINST&rdquo; such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The advisory
vote pursuant to Proposal 5 is not binding on the Company, the Board of Directors or management. A majority of votes cast is necessary
for approval of executive compensation. Abstentions and broker non-votes have no effect on Proposals 5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Who pays for this proxy solicitation?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">We do. In
addition to sending you these materials and posting them on the Internet, some of our employees may contact you by telephone, by mail,
by fax, by email, or in person. None of these employees will receive any extra compensation for doing this. We may reimburse brokerage
firms and other custodians for their reasonable out-of-pocket costs in forwarding these proxy materials to stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Why are we seeking stockholder approval for these proposals?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in"><U>Proposal No. 1</U>: The Nevada Revised
Statutes, as amended and the NASDAQ Stock Market require corporations to hold elections for directors each year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in"><U>Proposal No. 2</U>: The Company appointed
GGF CPA LTD. to serve as the Company&rsquo;s independent auditors for the 2025 fiscal year. The Company elects to have its stockholders
ratify such appointment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in"><U>Proposal No. 3</U>: The Nevada Revised
Statutes require corporations to obtain shareholder approval to amend its articles of incorporation to effect the split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in"><U>Proposal No. 4</U>: The Nevada Revised
Statutes and the NASDAQ Stock Market require corporations to obtain shareholder approval to adopt or materially amend equity incentive
plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.45pt; text-indent: 0.5in"><U>Proposal No. 5</U>: The Dodd-Frank
Wall Street Reform and Consumer Protection Act of 2010 (the &ldquo;Dodd-Frank Act&rdquo;), provides an advisory vote by stockholders to
approve the compensation paid to the Company&rsquo;s named executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center">SECURITY OWNERSHIP OF CERTAIN
BENEFICIAL OWNERS AND MANAGEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The following
table sets forth certain information regarding beneficial ownership of Common Stock, as of the Record Date of the meeting, by each of
Company&rsquo;s directors and executive officers; all executive officers and directors as a group, and each person known to Company to
own beneficially more than 5% of Company&rsquo;s Common Stock. Except as otherwise noted, the persons identified have sole voting and
investment powers with respect to their shares. As of July 15, 2025, there were 13,346,618 shares of the Company&rsquo;s Common Stock
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Name of Beneficial Owner (1)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; font-weight: bold">Number of Shares</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: right; font-weight: bold">Percent of Class</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Xiaobin Liu (CEO and Chairman)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">138,115</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">(2</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">1.0</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Yibo Yang (Director)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Min Li (CFO)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">138,115</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(2</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.0</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Naihui Miao (COO)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">138,115</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(2</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.0</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Shengwei Ma (Director)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,000</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Yang Zou (Director)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,000</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(4</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Shitong Jiang (Director)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,000</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(5</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Dongshan Wang (Director)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Qiang Liu (Director Nominee)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">All Directors and Executive Officers as a Group (nine persons)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">433,345</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.2</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Wenxiang Yu</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,015,945</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.6</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Shandong Haoyuan Industry Group Ltd.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">824,947</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(7</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.2</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Ming Yang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,985,675</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">(8</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.9</TD><TD STYLE="text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.45pt">_______________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.45pt">*&nbsp;&nbsp;Less than 1%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The address of each director and executive officer is c/o Gulf Resources, Inc., Level 11, Vegetable Building, Industrial Park of
the East City, Shouguang City, Shandong Province, 262700, the People&rsquo;s Republic of China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(2)</TD><TD>Consists of 138,115 shares held by each individual.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(3)</TD><TD>Consists of 4,000 shares held by Mr. Ma.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(4)</TD><TD>Consists of 6,000 shares held by Mr. Zou.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(5)</TD><TD>Consists of 6,000 shares held by Mr. Jiang.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(6)</TD><TD>Consists of 3,000 shares held by Mr. Wang.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0in">(7)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT>The address of the shareholder is c/o Gulf Resources, Inc., Level 11, Vegetable Building, Industrial Park of the East City, Shouguang
City, Shandong Province, 262700, the People&rsquo;s Republic of China. Chen Yang serves as the General Manager, and owns 82% equity interest,
of Shandong Haoyuan Industry Group Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0in">(8)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Consists of 634,770 shares owned by Ming Yang, 1,015,945 shares owned by Ms. Wenxiang Yu, the wife of Mr. Yang, 334,960 shares
owned by Mr. Zhi Yang, Mr. Yang&rsquo;s son. Mr. Yang disclaims beneficial ownership of the shares owned by his wife and son.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">PROPOSAL 1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ELECTION
OF DIRECTORS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Nominees of the Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Board
of Directors has nominated seven (7) persons identified below for election as directors, to serve until the next annual meeting and their
successors have been elected and qualified. If any nominee becomes unavailable for election, which is not expected, the persons named
in the accompanying proxy intend to vote for any substitute whom the Board of Directors nominates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 0pt; width: 20%; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name</B></P></TD>
    <TD STYLE="padding-left: 0pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt; width: 5%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Age</B></P></TD>
    <TD STYLE="padding-left: 0pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.2pt"><B>Other positions with Company; other directorships held
    in last</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.2pt"><B>five years</B></P></TD>
    <TD STYLE="padding-left: 0pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: left; width: 20%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>Has served as Company director</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>since</B></P></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="text-align: left; padding-left: 0pt; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Xiaobin Liu</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;57</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.2pt">Chief Executive Officer, Director and Chairman of the Board
    of</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.2pt">Directors</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: left">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">March 2009</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 0pt; vertical-align: top"><FONT STYLE="font-size: 10pt">Naihui Miao</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">57</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 10pt">Secretary, Chief Operating Officer and Director</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 10pt">January 2006</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="text-align: left; padding-left: 0pt; vertical-align: top"><FONT STYLE="font-size: 10pt">Yibo Yang</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">46</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 10pt">October 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 0pt; vertical-align: top"><FONT STYLE="font-size: 10pt">Qiang Liu (1)(3)</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">48</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 10pt">Independent Director</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="text-align: left; padding-left: 0pt; vertical-align: top"><FONT STYLE="font-size: 10pt">Shengwei Ma(1)(2)</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: center"><FONT STYLE="font-size: 10pt">57</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-size: 10pt">Independent Director</FONT></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0pt"><FONT STYLE="font-size: 10pt">December 2019</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; padding-left: 0pt; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shitong Jiang (1)(2)(3)</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;57</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Independent Director</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: left">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">April 2008</P></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="text-align: left; padding-left: 0pt; vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dongshan Wang(2)(3)</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;59</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Independent Director</P></TD>
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: left">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">November 2023</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(1)</TD><TD>Serves/will serve as a member of the Audit Committee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(2)</TD><TD>Serves as a member of the Compensation Committee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5.45pt"></TD><TD STYLE="width: 14.1pt">(3)</TD><TD>Serves/will serve as a member of the Nominating and Corporate Governance Committee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.45pt">Apart from Mr. Qiang Liu, each of the nominees is currently
a director of the Company and was elected at the 2024 Annual Meeting to hold office until the 2025 Annual Meeting and until his or her
successor has been elected and qualified. Biographical and related information on each nominee is set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify"><B>Xiaobin Liu</B>, <B>Chief Executive
Officer and Director</B> &ndash; Mr. Liu was appointed as Chief Executive Officer and Director of the Company on March 10, 2009, and as
Chairman of the Board of Directors of the Company in November 30, 2023. Mr. Liu joined the Company as Vice President in December 2007.
He has served as the Director of Sanya Kangyangnian Health Management Co. LTD since March, 2021. He has served as Chairman of Chengdu
Philosopher's Stone Culture Media Co. LTD since August 2018. He served as Chairman of China Shouguang Vegetable Industry Group (Cayman)
Inc. from 2011 to 2017. He currently serves as a director of China Shouguang Vegetable Industry Group (Cayman) Inc. Before he joined the
Company, Mr. Liu served as project manager of Shenzhen Guangshen Accounting Firm from January 2007 to November 2007; the department manager
of Hainan Zhongou Accounting Firm from January 2003 to December 2006; the CFO (equivalent of Vice President) of Dasheng Real Estate Development
Company, which is the subsidiary of Saige Dasheng Co., Ltd from May 2002 to November 2002; the CFO of Shenzhen Securities Department of
Hainan Saige International Trust Investment Company from May 2000 to August 2004; and the financial manager of Hainan Wanquanyuan Hot
Spring Tourism Development Co., Ltd from 1995 to 2000. During this time, he also was the CFO of Qionghai City Guantang Hotspring Leisure
Center, the CFO of Qionghai City Wanquanhe Agricultural Development Co., Ltd, the CFO of Qionghai Wanquanhe Hotspring Tourist Development
Property Management Co., Ltd, and the CFO of Qionghai Guantangyuzhuang Resort Co., Ltd. Prior to that, Mr. Liu worked in the financial
department of Hainan Jinyuan Industrial Co., Ltd, which is a subsidiary of Chinese Black Metal Limited Company Northwest Branch from 1992
to 1995, and the financial department of Shanxi Aircraft Manufacturing Company from 1988 to 1992. Mr. Liu earned a master degree from
the Economic and Management School at Hong Kong City University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Naihui Miao, Secretary, Chief
Operating Officer and Director </B>&ndash; Since January 2006, Mr. Miao has served as Director, Vice President and Secretary and, since
July, 2009, as Chief Operating officer of the Company. Mr. Miao is in charge of sales, human resource and business management of the Company.
From 2005 to 2006, Mr. Miao served as Vice President of Shouguang City Yuxin Chemical Company Limited as the deputy general manager. From
1991 to 2005, Mr. Miao served as a Manager and then Vice President of Shouguang City Commercial Trading Center Company Limited. He was
the director of Shouguang Business Trade Center since 1986. He has served as Supervisor of Chengdu Philosopher's Stone Culture Media Co.
LTD since August 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Yibo Yang, Director</B> &ndash;
Mr. Yang has served as Director of the Company since November 30, 2023. Mr. Yang has worked at Shouguang Haoyuan Chemical Co., Ltd. since
2009 and currently serves as the deputy general manager of Shouguang Haoyuan Chemical Co., Ltd. Mr. Yang is a 18% shareholder of Shandong
Haoyuan Industrial Group. Since December 2020, Mr. Yang has served as the deputy general manager of Shandong Haoyuan Industrial Group.
Since July 2023, Mr. Yang has served as the executive director and the managing director for Shouguang City Yuxin Chemical Company Limited.
Since June 2023, Mr. Yang has served as the supervisor of Shandong Caiting Lighting Technology Co., Ltd. Mr. Yang holds a Diploma in economic
management from Shandong University of Technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Qiang Liu, Independent Director
Nominee &ndash;</B>Mr. Liu has been nominated to serve as Director of the Company. Mr. Liu has served as Chief Financial Officer of Shandong
Yijia Agricultural Chemicals Co., Ltd. since 2010. Prior to this role, Mr. Liu served as Director of Business Department One at Shandong
Zhongcheng Certified Public Accountants Co., Ltd. from 2005 to 2010, and as Chief Accountant at Dongguan Shijie Town Liuwudong Juji Electromechanical
Company from 2001 to 2005. Mr. Liu is a Certified Public Accountant and holds extensive experience of nearly 30 years in financial management
and auditing. Mr. Liu graduated from Dalian University of Technology with a bachelor's degree in 2001.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Shitong Jiang, Independent
Director &ndash; </B>Mr. Jiang has served as Director of the Company since April 23, 2008. Mr. Jiang is Chief of the Shouguang City Audit
Bureau, Shandong Province, has been with the Audit bureau since 1990. During his career at the Shouguang City Audit Bureau he has held
multiple positions including, Auditing Officer and Audit Section Deputy Chief. The Shouguang City Audit Bureau is responsible for the
independent audit supervision of the affairs of the government. From 1987 to 1990 Mr. Jiang attended Shandong Financial Institution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Dongshan Wang, Independent
Director &ndash;</B> Mr. Wang has served as Director of the Company since November 30, 2023. Mr. Wang has served as the vice president
and the chief financial officer of Central China Headquarters of Anliang Holding Group since April 2018. Mr. Wang is an International
Certified Public accountant, and he holds a national Chief accountant (CFO) qualification certificate. Mr. Wang graduated from Zhengzhou
College of Light Industry majored in financial management in 1988.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Shengwei Ma</B>, <B>Independent
Director &ndash; </B>Mr. Ma has served as Director since December 18, 2019. Mr. Ma has served as Department Manager of Shouguang City
Urban Construction and Investment Group since March 2012. Mr. Ma holds a Senior Accountant Certificate. Mr. Ma graduated from Central
Broadcasting and Television University with bachelor&rsquo;s degree in accounting in 2004.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-align: justify">Family Relationships</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">There are no family relationships among our executive officers,
directors and significant employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Involvement in Certain Legal Proceedings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">To the best
of our knowledge, there have been no events under any bankruptcy act, no criminal proceedings and no judgments, injunctions, orders or
decrees material to the evaluation of the ability and integrity of any director, executive officer, promoter or control person of our
Company during the past ten years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Board Operations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.45pt; text-indent: 0.5in">Mr. Xiaobin Liu holds the positions
of chief executive officer and chairman of the Board of the Company. The Board believes that Mr. Liu&rsquo;s services as both chief executive
officer and chairman of the Board is in the best interest of the Company and its shareholders. Mr. Liu possesses detailed and in-depth
knowledge of the issues, opportunities and challenges facing the Company in its industries and businesses and is thus best positioned
to develop agendas that ensure the Board&rsquo;s time and attention are focused on the most critical matters relating to the business
of the Company. His combined role enables decisive leadership, ensures clear accountability, and enhances the Company&rsquo;s ability
to communicate its message and strategy clearly and consistently to the Company&rsquo;s shareholders, employees and customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.7pt 0pt 5.45pt; text-indent: 0.5in">The Board has not designated a
lead director. Given the limited number of directors comprising the Board, the independent directors call and plan their executive sessions
collaboratively and, between meetings of the Board, communicate with management and one another directly. Under these circumstances, the
directors believe designating a lead director to take on responsibility for functions in which they all currently participate might detract
from rather than enhance performance of their responsibilities as directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">The Board of Directors held 4 meetings
during 2024. During 2024, no director attended fewer than 75% of the meetings of the Board of Directors and Board committees of which
the director was a member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Director Qualifications</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Company
seeks directors with established strong professional reputations and experience in areas relevant to the strategy and operations of our
businesses. The Company also seeks directors who possess the qualities of integrity and candor, who have strong analytical skills and
who are willing to engage management and each other in a constructive and collaborative fashion, in addition to the ability and commitment
to devote time and energy to service on the Board and its committees. We believe that all of our directors and director nominee meet the
foregoing qualifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Nominating
and Corporate Governance Committee and the Board believe that the leadership skills and other experience of the Board members, as described
below, provide the Company with a range of perspectives and judgment necessary to guide our strategies and monitor their execution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Xiaobin Liu </B>was appointed
as Chief Executive Officer and Director on March 10, 2009, and as Chairman of the Board of Directors on November 30, 2023. Mr. Liu has
years of experience in capital markets, financial and business management, and strategic planning and development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Naihui Miao </B>Since January
2006, Mr. Miao has served as Director, Secretary and Vice President of the Company. He is in charge of sales, human resource and business
management. Mr. Miao has years of experience in the chemical industry, business operations and management, and strategic planning and
development..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.9pt 0pt 5.45pt; text-align: justify"><B>Yibo Yang</B> was appointed
as a Director since November 30, 2024. Mr. Yang has been in the chemical industry for more than ten years. Mr. Yang contributes to the
Board&rsquo;s vision for the development of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Yang Zou </B>was appointed
as a Director on March 2, 2011. Mr. Zou has served as the Vice Director of Beijing Zhongtianhuamao Accounting Firm (General Partnership)
since July 1, 2016. He is a Certified Public Accountant and holds the certificate of Certified Internal Auditor. Mr. Zou has extensive
experience in auditing and accounting related matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Qiang Liu </B>has served as
Chief Financial Officer of Shandong Yijia Agricultural Chemicals Co., Ltd. since 2010. Mr. Liu is a Certified Public Accountant and holds
extensive experience of nearly 30 years in financial management and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"><B>Shitong Jiang </B>was appointed
as a Director on April 23, 2008. Mr. Jiang is Chief of the Shouguang City Audit Bureau, Shandong Province. He has been with the Audit
Bureau since 1990. Mr. Jiang has extensive experience in auditing and management related matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><B>Dongshan Wang</B> was appointed as an Independent Director
on October 30, 2023. Mr. Wang has vast experience in management, finance, and accounting-related matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><B>Shengwei Ma</B> was appointed as a Director on December
18, 2019. Mr. Ma holds a Senior Accountant Certificate. Mr. Ma has extensive experience in financial, accounting and management related
matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Code of Ethics</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">The Board has adopted a code of ethics
applicable to Company&rsquo;s directors, officers, and employees. The code of ethics is available at Company&rsquo;s website, www.gulfresourcesinc.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Board Meetings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt">The Board of Directors and its committees held the following
number of meetings during 2024:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">Board of Directors</FONT></TD>
    <TD STYLE="width: 40%; text-align: right"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Audit Committee</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD><FONT STYLE="font-size: 10pt">Compensation Committee</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nominating Committee&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Board Committees</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our board of directors has established standing
committees in connection with the discharge of its responsibilities. These committees include an Audit Committee, a Compensation Committee
and a Corporate Governance and Nominating Committee. Our board of directors has adopted written charters for each of these committees.
Copies of the charters are available on our website at www.gulfresourcesinc.com. Our board of directors may establish other committees
as it deems necessary or appropriate from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Audit Committee</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Audit
Committee is responsible for reviewing the results and scope of the audit, and other services provided by our independent auditors, and
reviewing and evaluating our system of internal controls. Mr. Jiang is the Audit Committee Financial Expert as defined in Item 407(d)(5)
of Regulation S-K promulgated under the Securities Act, and the chair of the Audit Committee. Our Board of Directors has determined that
Messrs. Jiang, Liu and Ma are &ldquo;independent directors&rdquo; within the meaning of Rule 10A-3 under the Exchange Act, as determined
based upon the criteria for &ldquo;independence&rdquo; set forth in the rules of the NASDAQ Stock Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Compensation Committee</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Compensation
Committee is responsible for (a) reviewing and providing recommendations to the Board of Directors on matters relating to employee compensation
and benefit plans, and (b) assisting the Board in determining the compensation of the Chief Executive Officer and making recommendations
to the Board with respect to the compensation of the Chief Financial Officer, other executive officers of the Company and independent
directors. Dongshan Wang, Shitong Jiang and Shengwei Ma are current members of the Compensation Committee. The Compensation Committee
operates under a written charter. Mr. Wang is the Chairman of Compensation Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Nominating and Corporate Governance Committee</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Our Board
of Directors established a Nominating and Corporate Governance Committee in June 2009. The purpose of the Nominating and Corporate Governance
Committee is to assist our Board of Directors in identifying qualified individuals to become board members, in determining the composition
of the Board of Directors and in monitoring the process to assess board effectiveness. Dongshan Wang, Shitong Jiang and Yang Zou are current
members of the Nominating and Corporate Governance Committee. Qiang Liu will replace Yang Zou as a member of the Nominating and Corporate
Governance Committee once Mr. Liu is elected. The Nominating and Corporate Governance Committee operates under a written charter. Mr.
Jiang is the Chairman of Nominating and Corporate Governance Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The
Nominating and Corporate Governance Committee will consider director candidates recommended by security holders. Potential nominees
to the Board of Directors are required to have such experience in business or financial matters as would make such nominee an asset
to the Board of Directors and may, under certain circumstances, be required to be &ldquo;independent&rdquo;, as such term is defined
under Rule 5605 of the listing standards of NASDAQ and applicable SEC regulations. Security holders wishing to submit the name of a
person as a potential nominee to the Board of Directors must send the name, address, and a brief (no more than 500 words)
biographical description of such potential nominee to the Nominating and Corporate Governance Committee at the following address:
Nominating and Corporate Governance Committee of the Board of Directors, c/o Gulf Resources, Inc., Level 11, Vegetable Building,
Industrial Park of the East City, Shouguang City , Shandong Province, the People&rsquo;s Republic of China. Potential director
nominees will be evaluated by personal interview, such interview to be conducted by one or more members of the Nominating and
Corporate Governance Committee, and/or any other method the Nominating and Corporate Governance Committee deems appropriate, which
may, but needs not, include a questionnaire. The Nominating and Corporate Governance Committee may solicit or receive information
concerning potential nominees from any source it deems appropriate. The Nominating and Corporate Governance Committee need not
engage in an evaluation process unless (i) there is a vacancy on the Board of Directors, (ii) a director is not standing for
re-election, or (iii) the Nominating and Corporate Governance Committee does not intend to recommend the nomination of a sitting
director for re- election. Although it has not done so in the past, the Nominating and Corporate Governance Committee may retain
search firms to assist in identifying suitable director candidates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Board
does not have a formal policy on Board candidate qualifications. The Board may consider those factors it deems appropriate in evaluating
director nominees made either by the Board or stockholders, including judgment, skill, strength of character, experience with businesses
and organizations comparable in size or scope to the Company, experience and skill relative to other Board members, and specialized knowledge
or experience. Depending upon the current needs of the Board, certain factors may be weighed more or less heavily. In considering candidates
for the Board, the directors evaluate the entirety of each candidate&rsquo;s credentials and do not have any specific minimum qualifications
that must be met. &ldquo;Diversity,&rdquo; as such, is not a criterion that the Committee considers<I>. </I>The directors will consider
candidates from any reasonable source, including current Board members, stockholders, professional search firms or other persons. The
directors will not evaluate candidates differently based on who has made the recommendation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Stockholder Communications</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Stockholders
can mail communications to the Board of Directors, c/o Secretary, Gulf Resources, Inc., Level 11, Vegetable Building, Industrial Park
of the East City, Shouguang City, Shandong Province, the People&rsquo;s Republic of China 262700, who will forward the correspondence
to each addressee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Section 16(a) Beneficial Ownership Reporting Compliance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Section 16(a)
of the Securities Exchange Act of 1934 requires Company&rsquo;s directors and executive officers and any beneficial owner of more than
10% of any class of Company equity security to file reports of ownership and changes in ownership with the Securities and Exchange Commission
and furnish copies of the reports to Company. Based solely on the Company&rsquo;s review of copies of such forms and written representations
by Company&rsquo;s executive officers and directors received by it, Company believes that during 2024, all such reports were filed timely.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Executive Compensation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Compensation Discussion and Analysis</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">This compensation discussion describes
the overall compensation practices at the Company and specifically describes the compensation for the following named executive officers
(&ldquo;Named Executive Officers&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41.45pt"></TD><TD STYLE="width: 15.75pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Xiaobin Liu, Chief Executive Officer</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41.45pt"></TD><TD STYLE="width: 15.75pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Min Li, Chief Financial Officer</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41.45pt"></TD><TD STYLE="width: 15.75pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Naihui Miao, Chief Operating Officer</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">The Board of Directors appointed the
Compensation Committee of our Board of Directors to evaluate and determine the compensation programs of the Company&rsquo;s Named Executive
Officers, including the Chief Executive Officer and the Chief Financial Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Compensation Philosophy and Objectives</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">Our primary goal with respect to our
compensation programs has been to attract and retain the most talented and dedicated employees in key positions in order to compete effectively
in the market place, successfully execute our growth strategies, and create lasting shareholder value. The Compensation Committee evaluates
both individual and Company performance when determining the compensation of our executives. The Compensation Committee believes that
a significant portion of our executive&rsquo;s total compensation should be at-risk compensation that is linked to stock-based incentives
to align their interests with those of shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.45pt; text-indent: 0.5in">Additionally, the Compensation
Committee has determined that an executive officer who is a Chinese national and is based in China will be entitled to a locally competitive
package and an executive officer who is an expatriate or who is based in the U.S. will be paid a salary commensurate with those paid to
the executives in the U.S. The Compensation Committee evaluates the appropriateness of the compensation programs annually and may make
adjustments after taking account the subjective evaluation described previously.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.1pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">We apply our
compensation policies consistently for determining compensation of our Chief Executive Officer as we do with the other executives. The
Compensation Committee assesses the performance of our Chief Executive Officer annually and determines the base salary and incentive compensation
of our chief executive officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">Our Chief Executive Officer is primarily responsible for
the assessment of our other executive officers&rsquo; performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.45pt">Ultimately, it is the Compensation Committee&rsquo;s
evaluation of the chief executive officer&rsquo;s assessment along with competitive market data that determines each executive&rsquo;s
total compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Elements of Our Executive Compensation Programs</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.7pt 0pt 5.45pt; text-indent: 0.5in"><I>Base Salary</I>. All full time
executives are paid a base salary. Base salaries for our named executives are set based on their professional qualifications and experiences,
education background, scope of their responsibilities, taking into account competitive market compensation levels paid by other similar
sized companies for similar positions and reasonableness and fairness when compared to other similar positions of responsibility within
the Company. Base salaries are reviewed annually by the Compensation Committee, and may be adjusted annually as needed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.7pt 0pt 5.45pt; text-indent: 0.5in"><I>Annual Bonuses</I>. The Company
does not pay guaranteed annual bonuses to our executives or to employees at any level because we emphasize pay-for-performance. The Compensation
Committee determines cash bonuses towards the end of each fiscal year to award our executive officers including our Chief Executive Officer
and Chief Financial Officer based upon a subjective assessment of the Company&rsquo;s overall performance and the contributions of the
executive officers during the relevant period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.45pt; text-indent: 0.5in"><I>Equity Incentive Compensation</I>.
A key element of our pay-for-performance philosophy is our reliance on performance-based equity awards through the Company&rsquo;s stock
option plan. This program aligns executives&rsquo; and shareholders&rsquo; interests by providing executives an ownership stake in the
Company. Our Compensation Committee has the authority to award equity incentive compensation, i.e. stock options, to our executive officers
in such amounts and on such terms as the Compensation Committee determines in its sole discretion. The Compensation Committee reviews
each executive&rsquo;s individual performance and his or her contribution to our strategic goals and determines the amount of stock options
to be awarded towards the end of the fiscal year. The Compensation Committee grants equity incentive compensation at times when there
are not material non-public information to avoid timing issues and the appearance that such awards are made based on any such information.
The exercise price is the closing market price on the date of the grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.35pt 0pt 5.45pt; text-indent: 0.5in"><I>Other Compensation</I>. We provide
our executives with certain other benefits, including reimbursement of business and entertainment expenses, health insurance, vacation
and sick leave plan. The Compensation Committee in its discretion may revise, amend or add to the officer&rsquo;s executive benefits as
it deems necessary. We believe that these benefits are typically provided to senior executives of similar companies in China and in the
U.S.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">The following table sets forth information
regarding compensation of the named executive officers for each of the two fiscal years in the period ended December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-align: left">FISCAL YEAR 2024 COMPENSATION TABLE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">Name and <BR> Principal Position</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Year</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Salary ($)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Bonus($)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Stock Awards($)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Option Awards$(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Non-Equity Incentive Plan Compensation ($)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Nonqualified Deferred Compensation Earnings ($)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">All Other Compensation <BR> ($)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 8pt">Total ($)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; width: 15%"><FONT STYLE="font-size: 8pt">Xiaobin Liu</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">61,200</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">61,200</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">CEO</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2024</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Min Li</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">16,943</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">61,200</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">78,143</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-size: 8pt">CFO</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2024</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">16,693</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">16,693</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Naihui Miao</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">16,943</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">61,200</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">78,143</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 8pt">COO</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2024</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">16,693</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">(1)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">16,693</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">(1) Represents the dollar amount recognized for financial
statement reporting purposes in accordance with Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 718
&ndash; &ldquo;Compensation - Stock Compensation.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Except as
disclosed below under the caption &ldquo;Compensation of Directors,&rdquo; we have not paid or accrued any fees to any of our executive
directors for serving as a member of our Board of Directors. We do not have any retirement, pension, profit sharing or insurance or medical
reimbursement plans covering our officers and directors. Our executive officers are reimbursed by us for any out- of-pocket expenses incurred
in connection with activities conducted on our behalf. There is no limit on the amount of these out-of- pocket expenses and there will
be no review of the reasonableness of such expenses by anyone other than our Board of Directors, which includes persons who may seek reimbursement,
or a court of competent jurisdiction if such reimbursement is challenged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Grants of Plan-Based Awards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company did not grant any shares of our Common
Stock to each of our named executive officers, under Company&rsquo;s 2019 Omnibus Equity Incentive Plan, as amended, during fiscal year
2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="33" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 7pt"><B>FISCAL YEAR 2024 GRANTS OF PLAN-BASED AWARDS</B></FONT></P>

</TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD COLSPAN="7" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">Estimated Future Payouts&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

</TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD COLSPAN="7" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">Estimated Future Payouts<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

</TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 7pt">Option
                                            Awards:</FONT></P></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD COLSPAN="7" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD COLSPAN="7" STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>
                                                                                                                             <P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 7pt"><FONT STYLE="font-size: 7pt">Under Non-Equity</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 7pt">&nbsp;&#9;Incentive
Plan Awards&#9;</FONT></P>

</TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;<FONT STYLE="font-size: 7pt">Under Equity Incentive&nbsp;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt">Plan Awards</FONT></P></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 5%"><FONT STYLE="font-size: 7pt">Name</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 4%; text-align: center"><FONT STYLE="font-size: 7pt">Grant
                                            Date &nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 4%; text-align: center"><FONT STYLE="font-size: 7pt">Threshold</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 4%; text-align: center"><FONT STYLE="font-size: 7pt">Target
                                            &nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 4%; text-align: center"><FONT STYLE="font-size: 7pt">Maximum</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 4%; text-align: center"><FONT STYLE="font-size: 7pt">Threshold</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 4%; text-align: center"><FONT STYLE="font-size: 7pt">Target</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 4%; text-align: center"><FONT STYLE="font-size: 7pt">Maximum</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 13%; text-align: center"><FONT STYLE="font-size: 7pt">&#9;All
                                            Other Stock Awards: Number of Shares of Stocks or Units&#9;</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 13%; text-align: center"><FONT STYLE="font-size: 7pt">&#9;Number
                                            of Securities Underlying Options&#9;</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 8%; text-align: center"><FONT STYLE="font-size: 7pt">Exercise
                                            or Base Price of Option Award($)&#9;</FONT></TD><TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; width: 8%; text-align: center"><FONT STYLE="font-size: 7pt">Grant
                                            Date Fair Value of Stock and Options ($)</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">Xiaobin Liu,&nbsp;&nbsp;&nbsp;CEO</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">Min Li, CFO&#9;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">Naihui Miao, COO</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Narrative Discussion</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">The following employment agreements were entered into by
the Company and the named executive officers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.45pt"><I>Xiaobin Liu</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The employment agreement for Xiaobin Liu to serve
as Chief Executive Officer of the Company was renewed on June 1, 2025 with a term of three years. Xiaobin Liu is also a member of the
Board of Directors. Pursuant to the agreement, Mr. Liu&rsquo;s service shall be compensated in the Company's shares only under the Company&rsquo;s
equity incentive plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Min Li</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The employment
agreement for Min Li to serve as Chief Financial Officer of the Company was renewed on January 1, 2025 with a term of one year. Pursuant
to the agreement, Mr. Li shall receive annual cash compensation equal to approximately $18,500 subject to changes in the foreign exchange
rate and market conditions and be compensated in the Company&rsquo;s shares under the Company&rsquo;s equity incentive plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt"><I>Naihui Miao</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The employment
agreement for Naihui Miao to serve as Chief Operating Officer of the Company was renewed on June 1, 2025 with a term of three years. Mr.
Miao is also a member of the Board of Directors. Pursuant to the agreement, Mr. Miao shall receive annual cash compensation equal to approximately
$18,500 subject to changes in the foreign exchange rate and market conditions, and be compensated in the Company&rsquo;s shares under
the Company&rsquo;s equity incentive plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">In addition,
each of our named executive officers is entitled to participate in any and all benefit plans from time to time, in effect for employees,
along with vacation, sick and holiday pay in accordance with policies established and in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Assuming the
employment of the Company&rsquo;s named executive officers was to be terminated without cause or for good reason or in the event of change
in control, as of December 31, 2024, the following individuals would have been entitled to payments in the amounts set forth opposite
to their name in the below table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Name</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold">Cash Payment</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 85%; text-align: left; padding-left: 0pt">Xiaboin Liu</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0pt">Min Li</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0pt">Naihui Miao</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Outstanding Equity Awards at Fiscal 2024 Year-End</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">The following table sets forth, for
each named executive officer, information regarding unexercised stock options, unvested stock awards, and equity incentive plan awards
outstanding as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 23.45pt; text-align: justify">(1) Represents the shares of
Common Stock granted, which are subject to the Awardee&rsquo;s continued service with the Company, the shares of Restricted Stock shall
vest immediately, no longer be subject to restrictions and become transferable pursuant to the terms of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Option Exercises and Stock Vested</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The following
table sets forth aggregate information with respect to each named executive officer regarding the exercise of stock options, stock appreciation
rights, and similar instruments and the vesting of restricted stock, restricted stock units and similar instruments, for fiscal 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-align: left">FISCAL YEAR 2024 OPTION EXERCISES
AND STOCK VESTED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD COLSPAN="5" STYLE="text-align: center">OPTION AWARDS</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD COLSPAN="5" STYLE="text-align: center">STOCK AWARDS</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Number of Shares Acquired on</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Value Realized on</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Number of Shares Acquired</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Value Realized on</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Name</TD><TD STYLE="text-align: left; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: left"><FONT STYLE="font-size: 10pt">Exercise (#)</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="text-align: left; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: left"><FONT STYLE="font-size: 10pt">Exercise ($)</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="text-align: left; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: left"><FONT STYLE="font-size: 10pt">on Vesting (#)</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="text-align: left; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 16%; text-align: left"><FONT STYLE="font-size: 10pt">Vesting ($)</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Xiaobin Liu, CEO</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Min Li, CFO</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Naihui Miao, COO</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Pension Benefits Table</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">The Company does not provide to any
of its named executive officers any plans that provide for payments or other benefits at, following, or in connection with retirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Nonqualified Defined Contribution and Other Nonqualified
Deferred Compensation Plans Table</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">None of our named executive officers
had any non-qualified defined contribution or other plan that provides for the deferral of compensation, for fiscal 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Compensation of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth information regarding
compensation of each director, excluding our executive directors, Xiaobin Liu and Naihui Miao, who do not receive compensation in their
capacity as executive directors, for fiscal year 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><B>FISCAL YEAR 2024 DIRECTOR COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Change in</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Pension Value</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="17">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">and</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Non-Equity</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Nonqualified</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Fees Earned</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Stock</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Option</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Incentive Plan</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Deferred</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">All Other</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">or Paid in</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Awards</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Awards</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Compensation</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Compensation</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Compensation</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Name</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Cash ($)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">($)(1)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">$</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">($)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">Earnings ($)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3">($) Total ($)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Ming Yang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Yibo Yang</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10,016</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 11%; text-align: right">10,016</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Shitong Jiang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Yang Zou</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Tengfei Zhang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Shengwei Ma</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Dongshan Wang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-indent: 0in">(1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>Represents the dollar amount recognized for financial statement reporting purposes in accordance with FASB ASC 718 &ndash; &ldquo;Compensation
&ndash; Stock Compensation.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">Pursuant to
the terms of their director agreements, each of our independent directors, receive 1,000 shares of our restricted common stock on an annual
basis. The grant of restricted common stock is contingent upon the director&rsquo;s continued service with the Company. We do not pay
any cash compensation to the independent directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Compensation Committee Interlocks and Insider Participation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">We are a smaller
reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under
this item.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Certain Relationships and Related Transactions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 26pt">It is our policy to not enter any transaction (other
than compensation arrangements in the ordinary course) with any director, executive officer, employee, or principal stockholder or party
related to them, unless authorized by a majority of the directors having no interest in the transaction, upon a favorable recommendation
by the Audit Committee (or a majority of its disinterested members).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 26pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 26pt">On September 25, 2012, the Company purchased five
floors of a commercial building in the PRC, through SYCI, from Shandong Shouguang Vegetable Seed Industry Group Co., Ltd. (the &ldquo;Seller&rdquo;)
at a cost of approximately $5.7&nbsp;million in cash, of which Mr. Ming Yang, the Chairman of the Company, had a&nbsp;99% equity interest
in the Seller that time. During the first quarter of 2018, the Company entered into an agreement with the Seller, a related party, to
provide property management services for an annual amount of approximately $87,927&nbsp;for&nbsp;five years from January 1, 2023 to December
31, 2027. The expense associated with this agreement for the year ended December 31, 2024 was $87,821. The expense associated with this
agreement for the year ended December 31, 2023 was $88,049.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8pt"></TD><TD STYLE="width: 18pt">a)</TD><TD>Related parties</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 41%; border: black 1pt solid; padding-left: 1.85pt"><FONT STYLE="font-size: 10pt">Name of related parties</FONT></TD>
    <TD STYLE="width: 59%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 1.7pt"><FONT STYLE="font-size: 10pt">Position</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 1.85pt"><FONT STYLE="font-size: 10pt">YangMing</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 1.7pt"><FONT STYLE="font-size: 10pt">Shareholder</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 1.85pt"><FONT STYLE="font-size: 10pt">LiuXiaoBin</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 1.7pt"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="width: 41%; border: black 1pt solid; padding-left: 1.85pt"><FONT STYLE="font-size: 10pt">LiMin</FONT></TD>
    <TD STYLE="width: 59%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 1.7pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 1.85pt"><FONT STYLE="font-size: 10pt">MiaoNaiHui</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 1.7pt"><FONT STYLE="font-size: 10pt">Chief Operating Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 1.85pt"><FONT STYLE="font-size: 10pt">Chengdu Dianjinshi Culture media Co., LTD</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-left: 1.7pt"><FONT STYLE="font-size: 10pt">Affiliated with company officers</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>b)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, <BR>2024</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, <BR>2023</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Amount due to related parties:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%">YangMing</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">410,350</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">416,484</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>LiuXiaoBin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">887,214</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">887,214</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>LiMin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">636,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">641,480</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>MiaoNaiHui</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">650,980</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">641,480</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,584,808</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,586,658</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>c)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="7">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, <BR>2024</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, <BR>2023</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Amount due from related party:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left">Chengdu Dianjinshi Culture media Co., LTD</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">25,040</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">25,040</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Director Independence</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 27pt">The Board of
Directors has determined that Qiang Liu, Shitong Jiang, Dongshan Wang, and Shengwei Ma are independent under Rule 5605(a)(2) of the NASDAQ
Listing Rules. In addition, under applicable rules and regulations, and as determined by the Board, all of the members of the Audit, Compensation,
and Nominating and Corporate Governance Committees are &ldquo;independent&rdquo; directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required and Recommendation of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">Directors are elected by a plurality of votes cast in person
or by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center">THE BOARD OF DIRECTORS RECOMMENDS
A VOTE &ldquo;<U>FOR</U>&rdquo; THE ELECTION OF THE BOARD OF DIRECTORS&rsquo; NOMINEES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">PROPOSAL 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center"><B>RATIFICATION OF THE APPOINTMENT
OF INDEPENDENT ACCOUNTANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.95pt; text-indent: 35.45pt">Our independent public accounting
firm is GGF CPA LTD. (&ldquo;GGF&rdquo;), Level 3, Shop 119 No. 20, Jingang Avenue, Nansha District, Guangzhou, Guangdong , PCAOB Auditor
ID 2729. The Audit Committee has appointed GGF as independent accountants for fiscal 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.95pt; text-indent: 35.45pt">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Services and Fees of Independent Accountants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">The aggregate fees billed to the Company by its principal
accountant for the last two fiscal years were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 76%; border: black 1pt solid; padding-left: 0.35pt"><FONT STYLE="font-size: 10pt"><B>Fees</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><B>2023</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><B>2024</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 0.35pt"><FONT STYLE="font-size: 10pt">Audit Fees</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">$&#9;188,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">$&#9;188,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 0.35pt"><FONT STYLE="font-size: 10pt">Audit Related Fees</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 0.35pt"><FONT STYLE="font-size: 10pt">Tax Fees</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 0.35pt"><FONT STYLE="font-size: 10pt">All Other Fees</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #CCEDFF">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 0.35pt"><FONT STYLE="font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">188,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">188,000</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><I>Audit Fees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">This category
consists of fees for the audit of our annual financial statements, review of the financial statements included in our quarterly reports
on Form 10-Q and services that are normally provided by the independent registered public accountants in connection with statutory and
regulatory filings or engagements for those fiscal years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><I>Audit-Related Fees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">This category
consists of services by our independent auditors that are reasonably related to the performance of the audit or review of our financial
statements and are not reported above under Audit Fees. This category includes accounting consultations on transaction and proposed transaction
related matters. There were no such fees incurred by the Company in the years ended December 31, 2024 and 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><I>Tax Fees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="margin-left: 5.45pt; text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">The tax fee of $nil and $nil relate to tax compliance
services rendered in each of the years ended December 31, 2024 and 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt"><I>All Other Fees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">There are no other fees to disclose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Pre-Approval of Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The Audit
Committee appoints the independent accountant each year and pre-approves the audit services. The Audit Committee chair is authorized to
pre-approve specified non-audit services for fees not exceeding specified amounts, if he promptly advises the other Audit Committee members
of such approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required and Recommendation of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.45pt">A majority of votes present in person or by proxy is required
to ratify the appointment of the independent accountants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center">THE BOARD OF DIRECTORS RECOMMENDS
THAT YOU VOTE &ldquo;<U>FOR</U>&rdquo; RATIFICATION OF THE APPOINTMENT OF THE INDEPENDENT ACCOUNTANTS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">PROPOSAL 3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center"><B>APPROVAL TO EFFECT A REVERSE
SPLIT OF THE COMPANY&rsquo;S COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Purpose of the Proposed Reverse Stock Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company&rsquo;s Board of Directors has determined
that it is in our best interest to effect a reverse split of our Common Stock of one (1) share for a to-be-determined number of shares
within a spectrum of two (2) to ten (10) shares, so that, subject to the discretion of the Board of Directors, every two (2) to ten (10)
outstanding shares of Common Stock before the stock split shall represent one (1) share of Common Stock after the stock split with all
fractional shares rounded up to the next whole share (the &ldquo;Reverse Split&rdquo;). The Company&rsquo;s shareholders are voting to
give the Board of Directors discretion in ultimately selecting what the reverse stock split ratio will be. The Board of Directors believes
that our Common Stock is undervalued and that the Reverse Split will allow the Company&rsquo;s Common Stock to trade in a more realistic
price range.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Additionally, the Board believes that the Reverse
Split could help satisfy the $1.00 minimum bid price requirement (the &quot;Minimum Bid Requirement&quot;), as set forth in Nasdaq Listing
Rule 5550(a)(2) (the &quot;Rule&quot;), for continued listing on The Nasdaq Capital Market. As previously disclosed, on November 5, 2024,
the Staff notified the Company that the bid price for the Common Shares had closed below $1.00 per share for 30 consecutive business days
and, as a result, the Company no longer satisfied Nasdaq Listing Rule 5450(a)(1), the minimum bid price requirement applicable to The
Nasdaq Global Select Market issuers. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company was afforded an initial 180-calendar day
grace period, through May 5, 2025, to regain compliance with the minimum bid price requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Issuers listed on The Nasdaq Global Select Market
are not eligible for a second 180-day grace period under the Nasdaq Listing Rules. However, based upon the Company&rsquo;s compliance
with the various criteria required under Nasdaq Listing Rule 5810(c)(3)(A)(ii) to obtain a second 180-day grace period applicable to issuers
listed on The Nasdaq Capital Market, the Company applied to transfer the listing of its Common Shares to The Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 6, 2025, the Company was notified by the
Listing Qualifications Staff (the &ldquo;Staff&rdquo;) of Nasdaq that the Staff granted the Company&rsquo;s request to transfer the listing
of its common stock, par value $0.0005 per share, from The Nasdaq Global Select Market tier to The Nasdaq Capital Market tier, and that
the Staff granted the Company&rsquo;s request for a second 180-calendar day period, or until November 3, 2025 (the &ldquo;Second Compliance
Period&rdquo;), to regain compliance with the $1.00 bid price requirement, as set forth in Nasdaq Listing Rule 5550(a)(2). To regain compliance
with such minimum price requirement, the Company must evidence a closing bid price of at least $1.00 per share for a minimum of 10 consecutive
business days. The transfer of the listing of the Common Shares from The Nasdaq Global Select Market to The Nasdaq Capital Market took
effect with the open of business on May 8, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Given the deficiency aforementioned, the Board
believes it is in the best interests of the Company and its shareholders to effect the Reverse Split to increase the market price of the
Company&rsquo;s Common Stock so that the Company is able to regain compliance with NASDAQ listing rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Certain Risks Associated With the Reverse Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While the Board believes that the Company&rsquo;s
Common Stock would trade at higher prices after the consummation of the Reverse Split, there can be no assurance that the increase in
the trading price will occur, or, if it does occur, that it will equal or exceed two (2) to ten (10) times the market price of the Common
Stock prior to the Reverse Split. In some cases, the total market value of a company following a reverse stock split is lower, and may
be substantially lower, than the total market value before the reverse stock split. In addition, the fewer number of shares that will
be available to trade could possibly cause the trading market of the Common Stock to become less liquid, which could have an adverse effect
on the price of the Common Stock. We cannot provide any assurance that the Company&rsquo;s Common Stock will meet The NASDAQ Capital Market
continued listing requirements following the Reverse Split. The market price of the Common Stock is based on our performance and other
factors, some of which may be unrelated to the number of our shares outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, there can be no assurance that the
Reverse Split will result in a per share price that will attract brokers and investors who do not trade in lower priced stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Principal Effects of the Reverse Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the discretion of the Board of Directors,
on the effective date of the Reverse Split, each two (2) to ten (10) shares of our Common Stock issued and outstanding immediately prior
to the Reverse Split effective date (the &ldquo;Old Shares&rdquo;) will automatically and without any action on the part of the shareholders
be converted into one (1) share of our Common Stock (the &ldquo;New Shares&rdquo;). In the following discussion, we provide examples of
the effects of a one-for-five reverse stock split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Corporate Matters.&nbsp;</I>The Reverse Split would have the following
effects based upon the number of shares of Common Stock outstanding as of July 15, 2025:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&bull;</TD>
    <TD STYLE="width: 96%">in the case of a one-for-five reverse stock split, every five (5) of our Old Shares owned by a shareholder would be exchanged for one (1) New Share; and</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%">&bull;</TD>
    <TD STYLE="width: 96%">the number of shares of our Common Stock outstanding will be reduced from 13,346,618 shares to approximately 2,669,324 shares.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Reverse Split will be effected simultaneously
for all of our outstanding Common Stock and the exchange ratio will be the same for all of our outstanding Common Stock. The Reverse Split
will affect all of our shareholders uniformly and will not affect any shareholder&rsquo;s percentage ownership interests in the Company,
except to the extent that the Reverse Split results in any of our shareholders owning a fractional share. As described below, shareholders
and holders of options and warrants holding fractional shares will have their shares rounded up to the nearest whole number. Common Stock
issued pursuant to the Reverse Split will remain fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Fractional Shares.</I>&nbsp;No scrip or fractional
share certificates will be issued in connection with the Reverse Split. Shareholders who otherwise would be entitled to receive fractional
shares because they hold a number of Old Shares not evenly divisible by the one (1) for five (5) reverse stock split ratio, will be entitled,
upon surrender of certificate(s) representing these shares, to a number of shares of New Shares rounded up to the nearest whole number.
The ownership of a fractional interest will not give the shareholder any voting, dividend or other rights except to have his or her fractional
interest rounded up to the nearest whole number when the New Shares are issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Options and Warrants.</I>&nbsp;All outstanding
options, warrants, notes, debentures and other securities convertible to Common Stock will be adjusted as a result of the Reverse Split,
as required by the terms of these securities. In particular, the conversion ratio for each instrument will be reduced, and the exercise
price, if applicable, will be increased, in accordance with the terms of each instrument and based on the one-for-four ratio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Authorized Shares.</I>&nbsp;The Company is presently
authorized under its Articles of Incorporation to issue 80,000,000 shares of Common Stock. Upon effectiveness of the Reverse Split, the
number of authorized shares of Common Stock would remain the same, although the number of shares of Common Stock issued and outstanding
will decrease. Because the number of issued and outstanding shares of Common Stock will decrease, the number of shares of Common Stock
remaining available for issuance will increase. The issuance in the future of additional shares of our Common Stock may have the effect
of diluting the earnings per share and book value per share, as well as the stock ownership and voting rights of the currently outstanding
shares of our Common Stock. The effective increase in the number of authorized but unissued and unreserved shares of the Company&rsquo;s
Common Stock may be construed as having an anti-takeover effect as further discussed below. Authorized but unissued shares will be available
for issuance, and we may issue such shares in future financings or otherwise. If we issue additional shares, the ownership interest of
holders of our Common Stock would be diluted. Also, the issued shares may have rights, preferences or privileges senior to those of our
Common Stock. The Company does not currently have any plans, proposal or arrangement to issue any of its authorized but unissued shares
of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Accounting Matters.</I>&nbsp;The Reverse Split
will not affect the par value of our Common Stock. As a result, on the effective date of the Reverse Split, the stated capital on our
balance sheet attributable to our Common Stock will be reduced in proportion to the Reverse Split ratio (that is, in a one-for-four reverse
stock split, the stated capital attributable to our Common Stock will be reduced to 1/4 of its existing amount) and the additional paid-in
capital account shall be credited with the amount by which the stated capital is reduced. The per share net income or loss and net book
value of our Common Stock will also be increased because there will be fewer shares of our Common Stock outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Potential Anti-Takeover Effect.</I>&nbsp;Although
the increased proportion of unissued authorized shares to issued shares could, under certain circumstances, have an anti-takeover effect
(for example, by permitting issuances that would dilute the stock ownership of a person seeking to effect a change in the composition
of our Board or contemplating a tender offer or other transaction for the combination of the Company with another company), the Reverse
Split was not proposed in response to any effort of which we are aware to accumulate our shares of Common Stock or obtain control of us,
nor is it part of a plan by management to recommend a series of similar actions having an anti-takeover effect to our Board of Directors
and shareholders. Other than the Reverse Split, our Board of Directors does not currently contemplate recommending the adoption of any
other corporate action that could be construed to affect the ability of third parties to take over or change control of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The number of shares held by each individual shareholder
will be reduced if the Reverse Split is implemented. This will increase the number of shareholders who hold less than a &ldquo;round lot,&rdquo;
or 100 shares. Typically, the transaction costs to shareholders selling &ldquo;odd lots&rdquo; are higher on a per share basis. Consequently,
the Reverse Split could increase the transaction costs to existing shareholders in the event they wish to sell all or a portion of their
shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company is subject to the periodic reporting
and other requirements of the Exchange Act. If the proposed Reverse Split is implemented, our Common Stock will continue to be reported
on The NASDAQ Capital Market under the symbol &ldquo;GURE&rdquo; (although NASDAQ will add the letter &ldquo;D&rdquo; to the end of the
trading symbol for a period of twenty (20) trading days to indicate that the Reverse Split has occurred). We will continue to be subject
to the periodic reporting requirements of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Procedure for Effecting a Reverse Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Reverse Split will be accomplished by amending
the Company&rsquo;s Articles of Incorporation to effect the split. The Reverse Split will become effective at such future date as determined
by the Board of Directors, as evidenced by the filing of an amendment to the Company&rsquo;s Articles of Incorporation with the Secretary
of State of the State of Nevada (which we refer to as the &ldquo;Effective Time&rdquo;) following the affirmative vote of the Company&rsquo;s
shareholders at the Annual Meeting. Beginning at the Effective Time, each certificate representing Old Shares will be deemed for all corporate
purposes to evidence ownership of New Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHAREHOLDERS SHOULD NOT DESTROY ANY STOCK CERTIFICATE(S)<BR>
AND SHOULD NOT SUBMIT ANY CERTIFICATE(S) UNTIL REQUESTED TO DO SO.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Material U.S. Federal Income Tax Consequences of the Reverse Split</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following discussion is a general summary of
the material U.S. federal income tax consequences of the Reverse Split to a current shareholder of the Company that is a &ldquo;United
States person,&rdquo; as defined in the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;) (sometimes referred to herein
as a &ldquo;U.S. shareholder&rdquo;), and who holds stock of the Company as a &ldquo;capital asset,&rdquo; as defined in Section 1221
of the Code. This discussion does not purport to be a complete analysis of all of the potential tax effects of the Reverse Split. Tax
considerations applicable to a particular shareholder will depend on that shareholder&rsquo;s individual circumstances. The discussion
does not address the tax consequences that may be relevant to particular categories of shareholders subject to special treatment under
certain U.S. federal income tax laws (such as dealers in securities or currencies, banks, insurance companies, tax-exempt organizations,
financial institutions, broker-dealers, regulated investment companies, real estate investment companies, real estate mortgage investment
conduits and foreign individuals and entities). The discussion also does not address any tax consequences arising under U.S. federal non-income
tax laws, such as gift or estate tax laws, or the laws of any state, local or foreign jurisdiction. In addition, the discussion does not
consider the tax treatment of partnerships or other pass-through entities or persons who hold stock of the Company through such entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following discussion is based upon the Code,
U.S. Treasury Department regulations promulgated thereunder, published rulings of the Internal Revenue Service (the &ldquo;IRS&rdquo;)
and judicial decisions now in effect, all of which are subject to change or to varying interpretation at any time. Any such changes or
varying interpretations may also be applied retroactively. The following discussion has no binding effect on the IRS or the courts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No gain or loss should be recognized by a U.S.
shareholder upon such shareholder&rsquo;s deemed exchange of Old Shares for New Shares pursuant to the Reverse Split. The aggregate tax
basis of the New Shares received in the Reverse Split should be the same as such shareholder&rsquo;s aggregate tax basis in the Old Shares
being exchanged, and the holding period of the New Shares should include the holding period of such shareholder in the Old Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Because of the complexity of the tax laws and
because the tax consequences to the Company or to any particular shareholder may be affected by matters not discussed herein, shareholders
are urged to consult their own tax advisors as to the specific tax consequences to them in connection with the Reverse Split, including
tax reporting requirements, the applicability and effect of foreign, U.S. federal, state and local and other applicable tax laws and the
effect of any proposed changes in the tax laws.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Dissenters&rsquo; Rights of Appraisal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We are a Nevada corporation and are governed by
the Nevada Revised Statutes. Holders of the Company&rsquo;s Common Stock will not have appraisal or dissenter&rsquo;s rights under Nevada
law in connection with the Reverse Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Interest of Certain Persons in Matters to be
Acted Upon</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No director, executive officer, associate of any
director or executive officer or any other person has any substantial interest, direct or indirect, by security holdings or otherwise,
in the Reverse Split that is not shared by all other shareholders of ours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required and Recommendation of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Nevada Revised Statutes, the affirmative
vote of the holders of a majority of Common Stock entitled to vote at the Annual Meeting is required to approve the Reverse Split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center">THE BOARD OF DIRECTORS RECOMMENDS
A VOTE &ldquo;<U>FOR</U>&rdquo; THE APPROVAL OF THE REVERSE SPLIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">PROPOSAL 4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center"><B>APPROVAL OF THE GULF RESOURCES
INC. 2025 STOCK INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company is seeking approval of the stockholders
to adopt the Company&rsquo;s 2025 Stock Incentive Plan (the &ldquo;2025 Plan&rdquo;). The purpose of the 2025 Plan is to assist the Company
to attract, retain and provide incentives to employees and directors of, and consultants and advisers to, the Company and its subsidiaries.
If the 2025 Plan is approved, awards under the 2025 Plan will be limited in the aggregate to 2,000,000 shares of our common stock, inclusive
of the awards that were previously issued and outstanding under the Company&rsquo;s 2019 Omnibus Equity Incentive Plan, as amended (the
&ldquo;2019 Plan&rdquo;). Upon adoption of this 2025 Plan, the 2019 Plan shall be frozen, no new awards shall be granted thereunder, and
outstanding awards thereunder shall continue to be governed by the terms and condition of the 2019 Plan and applicable award agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Equity Compensation Plan Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the 2019 Plan, the aggregate number
shares of the Company&rsquo;s common stock available for grant of stock options and issuance is 10,341,989 shares. After the completion
of the 1-for-five reverse stock split of the Company&rsquo;s common stock on January 27, 2020, there were 2,068,398 shares of Common Stock
authorized for issuance under the 2019 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of October 12, 2021, the Company had 159,248
shares of Common Stock available for issuance under the 2019 Plan. As such, on November 30, 2021, the annual meeting of the Company&rsquo;s
stockholders approved to increase the aggregate number of shares reserved and available for grant and issuance under the 2019 Plan to
1,059,248 shares. As of the date of this proxy statement, the number of shares of the Company&rsquo;s common stock available for issuance
under the 2019 Plan is 1,801. shares.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The total number shares of common stock under the
2019 Plan, including shares originally authorized by equity holders and shares remaining for future issuance as of December 31, 2024,
is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Plan category</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Number of securities to be issued upon exercise of outstanding options, warrants and rights</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(a)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Weighted-average exercise price of outstanding options, warrants and rights</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(b)</B></P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(c)</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Equity&nbsp;compensation&nbsp;plans&nbsp;approved&nbsp;by&nbsp;security&nbsp;holders</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">561,801</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Equity&nbsp;compensation&nbsp;plans&nbsp;not&nbsp;approved&nbsp;by&nbsp;security&nbsp;holders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">561,801</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following summary of the 2025 Plan is qualified
in its entirety by reference to the complete text of the 2025 Plan, a copy of which is attached to this proxy statement as&nbsp;<I>Appendix
A</I>. Capitalized terms used and not otherwise defined in this section discussing the adoption of the 2025 Plan shall have the meanings
given to them in the 2025 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our Board of Directors has adopted and approved
the 2025 Plan, subject to the effectiveness of stockholder approval. Upon shareholders&rsquo; approval, the 2025 Plan will become effective
immediately and is a comprehensive incentive compensation plan under which we can grant equity-based and other incentive awards to officers,
employees and directors of, and consultants and advisers to, the Company. The purpose of the 2025 Plan is to help us attract, motivate
and retain such persons and thereby enhance shareholder value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Administration</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon effectiveness, the 2025 Plan will be administered
by a Committee of the Board of Directors (the &ldquo;Plan Committee&rdquo;) consisting of two or more persons who will each be (i) &ldquo;non-employee
directors&rdquo; within the meaning of Rule 16b-3 of the Exchange Act, and (ii) &ldquo;independent&rdquo; for purposes of any applicable
listing requirements. If a member of the Plan Committee is eligible to receive an award under the 2025 Plan, such Plan Committee member
shall have no authority hereunder with respect to his or her own award. Among other things, the Plan Committee has complete discretion,
subject to the terms of the 2025 Plan, to determine the employees, directors and consultants to be granted awards under the 2025 Plan,
the type of awards to be granted, the number of shares subject to each award, the exercise price under each option and the base price
for each stock appreciation right (&ldquo;SAR&rdquo;), the term of each award, the vesting schedule for an award, whether to accelerate
vesting, the value of the shares underlying the award, and the required withholdings, if any. The Plan Committee is also authorized to
construe the award agreements, and may prescribe rules relating to the 2025 Plan. &nbsp;Except to the extent (i) approved in advance by
holders of a majority of the shares of the Company entitled to vote generally in the election of directors, or (ii) as a result of any
Change of Control or any adjustment as provided in the 2025 Plan, the Plan Committee shall not have the power or authority to reduce,
whether through amendment or otherwise, the exercise price under any outstanding Option or Stock Appreciation Right, or to grant any new
Award or make any payment of cash in substitution for or upon the cancellation of Options and/or Stock Appreciation Rights previously
granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Grant of Awards; Shares Available for Awards</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The 2025 Plan provides for the grant of awards
which are incentive stock options (&ldquo;ISOs&rdquo;), non-qualified stock options (&ldquo;NQSOs&rdquo;), unrestricted stock, restricted
stock, restricted stock units, performance stock, performance units, SARs, tandem stock appreciation rights or any combination of the
foregoing, to key management employees, directors, and consultants of the Company or any of its subsidiaries (each a &ldquo;participant&rdquo;).
We have reserved a total of 2,000,000 shares for issuance as or under awards to be made under the 2025 Plan inclusive of the awards previously
issued and outstanding under the Company&rsquo;s 2019 Plan. To the extent that an award lapses, expires, is canceled, is terminated unexercised
or ceases to be exercisable for any reason, or the rights of its holder terminate, any shares subject to such award shall again be available
for the grant of a new award. The 2025 Plan shall continue in effect, unless sooner terminated, until the tenth (10th) anniversary of
the date on which it is adopted by the Board of Directors (except as to awards outstanding on that date). The Board of Directors in its
discretion may terminate the 2025 Plan at any time with respect to any shares for which awards have not theretofore been granted; provided,
however, that the 2025 Plan&rsquo;s termination shall not materially and adversely impair the rights of a holder, without the consent
of the holder, with respect to any award previously granted. The number of shares for which awards which are options or SARs may be granted
to a participant under the 2025 Plan during any calendar year is limited to 1,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Options</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The term of each stock option shall be as specified
in the option agreement; provided, however, that except for stock options which are ISOs, granted to an employee who owns or is deemed
to own (by reason of the attribution rules applicable under Code Section 424(d)) more than 10% of the total combined voting power of all
classes of shares of the Company or of any parent corporation or subsidiary corporation thereof (both as defined in Section 424 of the
Code), within the meaning of Section 422(b)(6) of the Code (a &ldquo;ten percent shareholder&rdquo;), no option shall be exercisable after
the expiration of ten (10) years from the date of its grant (five (5) years for an employee who is a ten percent shareholder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The price at which a share may be purchased upon
exercise of a stock option shall be determined by the Plan Committee; provided, however, that such option price (i) shall not be less
than the fair market value of a share on the date such stock option is granted, and (ii) shall be subject to adjustment as provided in
the 2025 Plan. The Plan Committee or the Board of Directors shall determine the time or times at which, or the circumstances under which,
a stock option may be exercised in whole or in part, the time or times at which options shall cease to be or become exercisable following
termination of the stock option holder&rsquo;s employment or upon other conditions, the methods by which such exercise price may be paid
or deemed to be paid, the form of such payment, and the methods by or forms in which shares will be delivered or deemed to be delivered
to participants who exercise stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Options which are ISOs shall comply in all respects
with Section 422 of the Code. In the case of an ISO granted to a ten percent shareholder, the per share exercise price under such ISO
(to the extent required by the Code at the time of grant) shall be no less than 110% of the fair market value of a share on the date such
ISO is granted. ISOs may only be granted to employees of the Company. In addition, the aggregate fair market value of the shares subject
to an ISO (determined at the time of grant) which are exercisable for the first time by an employee during any calendar year under all
plans of the Company which provide for the grant of ISOs may not exceed $100,000. Any Option which specifies that it is not intended to
qualify as an ISO or any Option that fails to meet the ISO requirements at any point in time will automatically be treated as a NQSO under
the terms of the 2025 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Unrestricted Stock Awards</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the terms of the applicable unrestricted
stock award agreement, an unrestricted stock award is the award or sale of shares to employees, directors or consultants, which are not
subject to transfer restrictions in consideration for past services rendered to the Company or for other valid consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Restricted Stock Awards</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A restricted stock award is a grant or sale of
shares of Common Stock to the holder, subject to such restrictions on transferability, risk of forfeiture and other restrictions, if any,
as the Plan Committee or the Board of Directors may impose, which restrictions may lapse separately or in combination at such times, under
such circumstances (including based on achievement of performance goals and/or future service requirements), in such installments or otherwise,
as the Plan Committee or the Board of Directors may determine at the date of grant or purchase or thereafter. If provided for under the
restricted stock award agreement, a participant who is granted or has purchased restricted stock shall have all of the rights of a shareholder,
including the right to vote the restricted stock and the right to receive dividends thereon (subject to any mandatory reinvestment or
other requirement imposed by the Plan Committee or the Board of Directors or in the award agreement). During the restricted period applicable
to the restricted stock, subject to certain exceptions, the restricted stock may not be sold, transferred, pledged, exchanged, hypothecated,
or otherwise disposed of by the participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Restricted Stock Unit Awards</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A restricted stock unit award provides for a grant
of shares of Common Stock or a cash payment to be made to the holder upon the satisfaction of predetermined individual service-related
vesting requirements, based on the number of units awarded to the holder. The Plan Committee shall set forth in the applicable restricted
stock unit award agreement the individual service-based vesting requirements which the holder would be required to satisfy before the
holder would become entitled to payment and the number of units awarded to the holder. At the time of such award, the Plan Committee may,
in its sole discretion, prescribe additional terms and conditions or restrictions. The holder of a restricted stock unit shall be entitled
to receive a cash payment equal to the fair market value of a share, as determined in the sole discretion of the 2025 Plan Committee and
as set forth in the restricted stock unit award agreement, for each restricted stock unit subject to such restricted stock unit award,
if and to the extent the holder satisfies the applicable vesting requirements. Such payment or distribution shall be made no later than
by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the calendar year in which the restricted stock
unit first becomes vested, unless otherwise structured to comply with Code Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Performance Stock Awards</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A performance stock award provides for the distribution
of shares (or cash equal to the fair market value of shares) to the holder upon the satisfaction of predetermined individual and/or Company
goals or objectives. The Plan Committee shall set forth in the applicable performance stock award agreement the performance goals and
objectives (and the period of time to which such goals and objectives shall apply) which the holder and/or Company would be required to
satisfy before the holder would become entitled to the receipt of shares (or cash equal to the fair market value of shares) pursuant to
such holder&rsquo;s performance stock award and the number of shares of shares subject to such performance stock award. The vesting restrictions
under any performance stock award shall constitute a &ldquo;substantial risk of forfeiture&rdquo; under Section 409A of the Code and,
if such goals and objectives are achieved, the distribution of such shares shall be made no later than by the fifteenth (15th) day of
the third (3rd) calendar month next following the end of our fiscal year to which such goals and objectives relate, unless otherwise structured
to comply with Code Section 409A. At the time of such award, the Plan Committee may, in its sole discretion, prescribe additional terms
and conditions or restrictions. The holder of a performance stock award shall have no rights as a shareholder until such time, if any,
as the holder actually receives shares pursuant to the performance stock award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I><BR>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Performance Unit Awards</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A performance unit award provides for a cash payment
to be made to the holder upon the satisfaction of predetermined individual and/or Company (or affiliate) performance goals or objectives
based on selected performance criteria, based on the number of units awarded to the holder. The Plan Committee shall set forth in the
applicable performance unit award agreement the performance goals and objectives (and the period of time to which such goals and objectives
shall apply) which the holder and/or Company would be required to satisfy before the holder would become entitled to payment, the number
of units awarded to the holder and the dollar value assigned to each such unit. At the time of such award, the Plan Committee may, in
its sole discretion, prescribe additional terms and conditions or restrictions. The holder of a performance unit shall be entitled to
receive a cash payment equal to the dollar value assigned to such unit under the applicable performance unit award agreement if the holder
and/or the Company satisfies (or partially satisfies, if applicable under the applicable performance unit award agreement) the performance
goals and objectives set forth in such performance unit award agreement. If achieved, such payment shall be made no later than by the
fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company&rsquo;s fiscal year to which such performance
goals and objectives relate, unless otherwise structured to comply with Code Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Stock Appreciation Rights</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A SAR provides the participant to whom it is granted
the right to receive, upon its exercise, cash or shares of Common Stock equal to the excess of (A) the fair market value of the number
of shares subject to the SAR on the date of exercise, over (B) the product of the number of shares subject to the SAR multiplied by the
base value for the SAR, as determined by the Plan Committee or the Board of Directors. The Plan Committee shall set forth in the applicable
SAR award agreement the terms and conditions of the SAR, including the base value for the SAR (which shall not be less than the fair market
value of a share on the date of grant), the number of shares subject to the SAR and the period during which the SAR may be exercised and
any other special rules and/or requirements which the Plan Committee imposes on the SAR. No SAR shall be exercisable after the expiration
of ten (10) years from the date of grant. A tandem SAR is a SAR granted in connection with a related option, the exercise of some or all
of which results in termination of the entitlement to purchase some or all of the shares under the related option. If the Plan Committee
grants a SAR which is intended to be a tandem SAR, the tandem SAR shall be granted at the same time as the related option and additional
restrictions apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Recapitalization or Reorganization</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to certain restrictions, the 2025 Plan
provides for the adjustment of shares underlying awards previously granted if, and whenever, prior to the expiration or distribution to
the holder of shares underlying an award theretofore granted, the Company shall effect a subdivision or consolidation of our Common Stock
or the payment of a stock dividend on Common Stock without receipt of consideration by the Company. If the Company recapitalizes or otherwise
changes its capital structure, thereafter upon any exercise or satisfaction, as applicable, of a previously granted award, the holder
shall be entitled to receive (or entitled to purchase, if applicable) under such award, in lieu of the number of shares then covered by
such award, the number and class of shares and securities to which the holder would have been entitled pursuant to the terms of the recapitalization
if, immediately prior to such recapitalization, the holder had been the holder of record of the number of shares then covered by such
award. The 2025 Plan also provides for the adjustment of shares underlying awards previously granted in the event of changes to the outstanding
shares by reason of an extraordinary cash dividend, reorganization, merger, consolidation, combination, split-up, spin-off, exchange or
other relevant change in capitalization occurring after the date of the grant of any award, subject to certain restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Amendment and Termination</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The 2025 Plan shall continue in effect, unless
sooner terminated pursuant to its terms, until the tenth (10th) anniversary of the date on which it became effective (except as to awards
outstanding on that date). The Board of Directors may terminate the 2025 Plan at any time with respect to any shares for which awards
have not theretofore been granted; provided, however, that the 2025 Plan&rsquo;s termination shall not materially and adversely impair
the rights of a holder with respect to any award theretofore granted without the consent of the holder. The Board of Directors shall have
the right to alter or amend the 2025 Plan or any part thereof from time to time; provided, however, that without the approval by a majority
of the votes cast at a meeting of our shareholders at which a quorum representing a majority of our shares entitled to vote generally
in the election of directors is present in person or by proxy, no amendment or modification of the 2025 Plan may (i) materially increase
the benefits accruing to holders, (ii) except as otherwise expressly provided in the 2025 Plan, materially increase the number of shares
subject to the 2025 Plan or the individual award agreements, (iii) materially modify the requirements for participation, or (iv) amend,
modify or suspend certain re-pricing prohibitions or amendment and termination provisions as specified therein. In addition, no change
in any award theretofore granted may be made which would materially and adversely impair the rights of a holder with respect to such award
without the consent of the holder (unless such change is required to cause the 2025 Plan and/or award to be exempt from or comply with
Section 409A of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the effective date of the 2025 Plan, no awards
will have been granted under the 2025 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Certain U.S. Federal Income Tax Consequences of the 2025 Plan</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a general summary of certain U.S.
federal income tax consequences under current tax law to the Company (to the extent it is subject to U.S. federal income taxation on its
net income) and to participants in the 2025 Plan who are individual citizens or residents of the United States for federal income tax
purposes (&ldquo;U.S. Participants&rdquo;) of stock options which are ISOs, or stock options which are NQSOs, unrestricted stock, restricted
stock, restricted stock units, performance stock, performance units and SARs. This summary does not purport to cover all of the special
rules that may apply, including special rules relating to limitations on our ability to deduct certain compensation, special rules relating
to deferred compensation, golden parachutes, U.S. Participants subject to Section 16(b) of the Exchange Act or the exercise of a stock
option with previously-acquired Common Stock. This summary assumes that U.S. Participants will hold their Common Stock as capital assets
within the meaning of Section 1221 of the Code. In addition, this summary does not address the foreign, state or local or other tax consequences,
or any U.S. federal non-income tax consequences, inherent in the acquisition, ownership, vesting, exercise, termination or disposition
of an award under the 2025 Plan, or shares issued pursuant thereto. Participants are urged to consult with their own tax advisors concerning
the tax consequences to them of an award under the 2025 Plan or shares issued thereunder pursuant to the 2025 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A U.S. Participant generally does not recognize
taxable income upon the grant of a NQSO if structured to be exempt from or comply with Code Section 409A. Upon the exercise of a NQSO,
the U.S. Participant generally recognizes ordinary compensation income in an amount equal to the excess, if any, of the fair market value
of the shares acquired on the date of exercise over the exercise price thereof, and the Company generally will be entitled to a deduction
for such amount at that time. If the U.S. Participant later sells shares acquired pursuant to the exercise of a NQSO, the U.S. Participant
recognizes a long-term or short-term capital gain or loss, depending on the period for which the shares were held. A long-term capital
gain is generally subject to more favorable tax treatment than ordinary income or a short-term capital gain. The deductibility of capital
losses is subject to certain limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A U.S. Participant generally does not recognize
taxable income upon the grant or, except for purposes of the U.S. alternative minimum tax (&ldquo;AMT&rdquo;) the exercise, of an ISO.
For purposes of the AMT, which is payable to the extent it exceeds the U.S. Participant&rsquo;s regular income tax, upon the exercise
of an ISO, the excess of the fair market value of the shares subject to the ISO over the exercise price is a preference item for AMT purposes.
If the U.S. Participant disposes of the shares acquired pursuant to the exercise of an ISO more than two years after the date of grant
and more than one year after the transfer of the shares to the U.S. Participant, the U.S. Participant generally recognizes a long-term
capital gain or loss, and the Company will not be entitled to a deduction. However, if the U.S. Participant disposes of such shares prior
to the end of either of the required holding periods, the U.S. Participant will have ordinary compensation income equal to the excess
(if any) of the fair market value of such shares on the date of exercise (or, if less, the amount realized on the disposition of such
shares) over the exercise price paid for such shares, and the Company generally will be entitled to deduct such amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 28.35pt">A U.S. Participant generally does not recognize
income upon the grant of a SAR. The U.S. Participant recognizes ordinary compensation income upon exercise of the SAR equal to the increase
in the value of the underlying shares, and the Company generally will be entitled to a deduction for such amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 28.35pt">A U.S. Participant generally does not recognize
income on the receipt of a performance stock award, performance unit award, restricted stock unit award or unrestricted stock award until
a cash payment or a distribution of shares is received thereunder. At such time, the U.S. Participant recognizes ordinary compensation
income equal to the excess, if any, of the fair market value of the shares or the amount of cash received over any amount paid therefor,
and the Company generally will be entitled to deduct such amount at such time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 28.35pt">A U.S. Participant who receives a restricted
stock award generally recognizes ordinary compensation income equal to the excess, if any, of the fair market value of such shares at
the time the restriction lapses over any amount paid for the shares. Alternatively, the U.S. Participant may make an election under Section
83(b) of the Code to be taxed on the fair market value of such shares at the time of grant. The Company generally will be entitled to
a deduction at the same time and in the same amount as the income that is required to be included by the U.S. Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required and Recommendation of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A majority of votes present in person or by proxy
is required to approve and adopt the Gulf Resources Inc. 2025 Stock Incentive Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center">THE BOARD OF DIRECTORS RECOMMENDS
A VOTE &ldquo;<U>FOR</U>&rdquo; THE GULF RESOURCES INC. 2025 STOCK INCENTIVE PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">PROPOSAL 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center"><B>ADVISORY VOTE TO APPROVE EXECUTIVE
COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">We are submitting
to stockholders an advisory vote to approve the compensation paid to the Company&rsquo;s named executive offices, as disclosed under the
caption Election of Directors&mdash;Executive Compensation, pursuant to Item 402 of Regulation S-K, compensation tables, and narrative
discussion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">The advisory
vote is not binding on the Company, the Board of Directors, or management; if executive compensation is not approved by a majority of
the votes cast, the Compensation Committee will take account of this fact when considering executive compensation in future years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required and Recommendation of the Board of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">A majority of votes cast in person or by proxy is required
for advisory approval of executive compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 6.5pt 0pt 6.35pt; text-align: center">THE BOARD OF DIRECTORS RECOMMENDS
THAT YOU VOTE &ldquo;<U>FOR</U>&rdquo; THE FOLLOWING ADVISORY RESOLUTION:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>RESOLVED</B>, that the
compensation paid to Company&rsquo;s named executive offices, as disclosed under the caption Election of Directors &mdash;Executive
Compensation, pursuant to Item 402 of Regulation S-K, compensation tables, and narrative discussion, be, and hereby is,
approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 132.75pt 0pt 132.6pt; text-align: center">OTHER INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Important Notice Regarding Availability of Proxy Materials</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">Under rules
adopted by the SEC, the Company is making this Proxy Statement and the Company&rsquo;s Annual Report available on the Internet instead
of mailing a printed copy of these materials to each shareholder. Shareholders who received a Notice of Internet Availability of Proxy
Materials (the &ldquo;<U>Notice</U>&rdquo;) by mail will not receive a printed copy of these materials other than as described below.
Instead, the Notice contains instructions as to how shareholders may access and review all of the important information contained in the
materials on the Internet, including how shareholders may submit proxies by telephone or over the Internet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Stockholders' Proposals for Next Annual Meeting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">A stockholder
of record may present a proposal for action at the next annual meeting provided that we receive the proposal at our executive office.
We anticipate that the 2026 Annual Meeting will be held in the fourth fiscal quarter of 2026. The proponent may submit a maximum of one
(1) proposal of not more than five hundred (500) words for inclusion in our proxy materials for a meeting of security holders. At the
Annual Meeting, management proxies will have discretionary authority, under Rule 14a-4 of the Securities Exchange Act of 1934, to vote
on stockholder proposals that are not submitted for inclusion in our proxy statement unless received by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Other Business</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">The Board
of Directors knows of no business other than that set forth above to be transacted at the meeting, but if other matters requiring a vote
of the stockholders arise, the persons designated as proxies will vote the shares of Common Stock represented by the proxies in accordance
with their judgment on such matters. If a stockholder specifies a different choice on the proxy, his or her shares of Common Stock will
be voted in accordance with the specification so made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Where You Can Find More Information</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">We file annual
and quarterly reports, proxy statements and other information with the SEC. Stockholders may read and copy any reports, statements or
other information that we file at the SEC. Our public filings are also available from commercial document retrieval services and at the
Internet Web site maintained by the SEC at www.sec.gov. The Company&rsquo;s Annual Report on Form 10-K is available on our website at
www.gulfresourcesinc.cn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">STOCKHOLDERS
SHOULD RELY ONLY ON THE INFORMATION CONTAINED IN THIS PROXY STATEMENT TO VOTE THEIR SHARES AT THE ANNUAL MEETING. NO ONE HAS BEEN AUTHORIZED
TO PROVIDE ANY INFORMATION THAT IS DIFFERENT FROM WHAT IS CONTAINED IN THIS PROXY STATEMENT. THIS PROXY STATEMENT IS DATED&nbsp;[&#9679;],
2025. STOCKHOLDERS SHOULD NOT ASSUME THAT THE INFORMATION CONTAINED IN THIS PROXY STATEMENT IS ACCURATE AS OF ANY DATE OTHER THAN THAT
DATE, UNLESS OTHERWISE DISCLOSED.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">IT IS
IMPORTANT THAT PROXIES BE RETURNED PROMPTLY. WE URGE YOU TO FILL IN, SIGN AND RETURN THE FORM OF PROXY IN THE PREPAID ENVELOPE PROVIDED,
NO MATTER HOW LARGE OR SMALL YOUR HOLDINGS MAY BE<FONT STYLE="font-weight: normal">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">By Order of the Board of Directors,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><U>/s/ Xiaobin Liu</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Xiaobin Liu</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Chairman of the Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Dated: &#9;&nbsp;&nbsp;&nbsp;&nbsp;, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.15pt 0pt 0; text-align: center"><U>Appendix A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center"><B>GULF RESOURCES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center"><B>2025 STOCK INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P>
</DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center"><B>GULF RESOURCES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center"><B>2025 STOCK INCENTIVE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE I</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">PURPOSE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The purpose
of this 2025 Stock Incentive Plan (the &ldquo;<U>Plan</U>&rdquo;) is to benefit Gulf Resources, Inc., a Nevada corporation (the &ldquo;<U>Company</U>&rdquo;)
and its stockholders, by assisting the Company and its subsidiaries to attract, retain and provide incentives to key management employees,
directors, and consultants of the Company and its Affiliates, and to align the interests of such service providers with those of the Company&rsquo;s
stockholders. Accordingly, the Plan provides for the granting of Non-qualified Stock Options, Incentive Stock Options, Restricted Stock
Awards, Restricted Stock Unit Awards, Stock Appreciation Rights, Performance Stock Awards, Performance Unit Awards, Unrestricted Stock
Awards, Distribution Equivalent Rights or any combination of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">DEFINITIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.45pt">The following definitions shall be applicable throughout
the Plan unless the context otherwise requires:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Affiliate</U>&rdquo; shall mean any corporation which, with respect to the Company, is a &ldquo;subsidiary corporation&rdquo;
within the meaning of Section 424(f) of the Code or other entity in which the Company has a controlling interest in such entity or another
entity which is part of a chain of entities in which the Company or each entity has a controlling interest in another entity in the unbroken
chain of entities ending with the applicable entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Award</U>&rdquo; shall mean, individually or collectively, any Option, Restricted Stock Award, Restricted Stock Unit
Award, Performance Stock Award, Performance Unit Award, Stock Appreciation Right, Distribution Equivalent Right or Unrestricted Stock
Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Award A</U>g<U>reement</U>&rdquo; shall mean a written agreement between the Company and the Holder with respect to an
Award, setting forth the terms and conditions of the Award, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.45pt">2.4 &ldquo;<U>Board</U>&rdquo; shall mean the Board of Directors of
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 5.45pt">2.5 &ldquo;<U>Base Value</U>&rdquo; shall have the meaning given to
such term in Section 14.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 36 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Cause</U>&rdquo; shall mean (i) if the Holder is a party to an employment or service agreement with the Company or an
Affiliate which agreement defines &ldquo;Cause&rdquo; (or a similar term), &ldquo;<U>Cause</U>&rdquo; shall have the same meaning as provided
for in such agreement, or (ii) for a Holder who is not a party to such an agreement, &ldquo;<U>Cause</U>&rdquo; shall mean termination
by the Company or an Affiliate of the employment (or other service relationship) of the Holder by reason of the Holder&rsquo;s (A) intentional
failure to perform reasonably assigned duties, (B) dishonesty or willful misconduct in the performance of the Holder&rsquo;s duties, (C)
involvement in a transaction which is materially adverse to the Company or an Affiliate, (D) breach of fiduciary duty involving personal
profit, (E) willful violation of any law, rule, regulation or court order (other than misdemeanor traffic violations and misdemeanors
not involving misuse or misappropriation of money or property), (F) commission of an act of fraud or intentional misappropriation or conversion
of any asset or opportunity of the Company or an Affiliate, or (G) material breach of any provision of the Plan or the Holder&rsquo;s
Award Agreement or any other written agreement between the Holder and the Company or an Affiliate, in each case as determined in good
faith by the Board, the determination of which shall be final, conclusive and binding on all parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Chan</U>g<U>e of Control</U>&rdquo; shall mean: (i) for a Holder who is a party to an employment or consulting agreement
with the Company or an Affiliate which agreement defines &ldquo;Change of Control&rdquo; (or a similar term), &ldquo;<U>Chan</U>g<U>e
of Control</U>&rdquo; shall have the same meaning as provided for in such agreement, or (ii) for a Holder who is not a party to such an
agreement, &ldquo;<U>Chan</U>g<U>e of Control</U>&rdquo; shall mean the satisfaction of any one or more of the following conditions (and
the &ldquo;Change of Control&rdquo; shall be deemed to have occurred as of the first day that any one or more of the following conditions
shall have been satisfied):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>Any person (as such term is used in paragraphs 13(d) and 14(d)(2) of the Exchange Act, hereinafter in this definition, &ldquo;<U>Person</U>&rdquo;),
other than the Company or an Affiliate or an employee benefit plan of the Company or an Affiliate, becomes the beneficial owner (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%)
of the combined voting power of the Company&rsquo;s then outstanding securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The closing of a merger, consolidation or other business combination (a &ldquo;<U>Business Combination</U>&rdquo;) other than a
Business Combination in which holders of the Shares immediately prior to the Business Combination have substantially the same proportionate
ownership of the common stock or ordinary shares, as applicable, of the surviving corporation immediately after the Business Combination
as immediately before;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The closing of an agreement for the sale or disposition of all or substantially all of the Company&rsquo;s assets to any entity
that is not an Affiliate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>The approval by the holders of shares of Shares of a plan of complete liquidation of the Company, other than a merger of the Company
into any subsidiary or a liquidation as a result of which persons who were stockholders of the Company immediately prior to such liquidation
have substantially the same proportionate ownership of shares of common stock or ordinary shares, as applicable, of the surviving corporation
immediately after such liquidation as immediately before; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>Within any twenty-four (24) month period, the Incumbent
Directors shall cease to constitute at least a majority of the Board or the board of directors of any successor to the Company; provided,
<U>however</U>, that any director elected to the Board, or nominated for election, by a majority of the Incumbent Directors then still
in office, shall be deemed to be an Incumbent Director for purposes of this paragraph (e), but excluding, for this purpose, any such individual
whose initial assumption of office occurs as a result of either an actual or threatened election contest with respect to the election
or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of an individual, entity or
&ldquo;group&rdquo; other than the Board (including, but not limited to, any such assumption that results from paragraphs (a), (b), (c),
or (d) of this definition).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Code</U>&rdquo; shall mean the United States of America Internal Revenue Code of 1986, as amended. Reference in the Plan
to any section of the Code shall be deemed to include any amendments or successor provisions to any section and any regulation under such
section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Committee</U>&rdquo; shall mean a committee comprised of two (2) or more members of the Board who are selected by the
Board as provided in Section 4.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">2.10
&ldquo;<U>Company</U>&rdquo; shall have the meaning given to such term in the introductory paragraph, including any successor
thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Consultant</U>&rdquo; shall mean any non-Employee (individual or entity) advisor to the Company or an Affiliate who or
which has contracted directly with the Company or an Affiliate to render bona fide consulting or advisory services thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Director</U>&rdquo; shall mean a member of the Board or a member of the board of directors of an Affiliate, in either
case, who is not an Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.13<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Distribution Equivalent Right</U>&rdquo; shall mean an Award granted under Article XIII of the Plan which entitles the
Holder to receive bookkeeping credits, cash payments and/or Share distributions equal in amount to the distributions that would have been
made to the Holder had the Holder held a specified number of Shares during the period the Holder held the Distribution Equivalent Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.14<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Distribution Equivalent Right Award Agreement</U>&rdquo; shall mean a written agreement between the Company and a Holder
with respect to a Distribution Equivalent Right Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">2.15
&ldquo;<U>Effective Date</U>&rdquo; shall mean September 4, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">2.16
&ldquo;<U>Employee</U>&rdquo; shall mean any employee, including any officer, of the Company or an Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">2.17
&ldquo;<U>Exchan</U>g<U>e Act</U>&rdquo; shall mean the United States of America Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.18<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Fair Market Value</U>&rdquo; shall mean, as of any specified date, the closing sales price of the Shares for such date
(or, in the event that the Shares are not traded on such date, on the immediately preceding trading date) on the NASDAQ Stock Market (&ldquo;NASDAQ&rdquo;),
as reported by NASDAQ, or such other domestic or foreign national securities exchange on which the Shares may be listed. If the Shares
are not listed on NASDAQ or on a national securities exchange, but are quoted on the OTC Bulletin Board or by the National Quotation Bureau,
the Fair Market Value of the Shares shall be the mean of the highest bid and lowest asked prices per Share for such date. If the Shares
are not quoted or listed as set forth above, Fair Market Value shall be determined by the Board in good faith by any fair and reasonable
means (which means may be set forth with greater specificity in the applicable Award Agreement). The Fair Market Value of property other
than Shares shall be determined by the Board in good faith by any fair and reasonable means consistent with the requirements of applicable
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.19<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Family Member</U>&rdquo; of an individual shall mean any child, stepchild, grandchild, parent, stepparent, spouse, former
spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including
adoptive relationships, any person sharing the Holder&rsquo;s household (other than a tenant or employee of the Holder), a trust in which
such persons have more than fifty percent (50%) of the beneficial interest, a foundation in which such persons (or the Holder) control
the management of assets, and any other entity in which such persons (or the Holder) own more than fifty percent (50%) of the voting
interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.20<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Holder</U>&rdquo; shall mean an Employee, Director or Consultant who has been granted an Award or any such individual&rsquo;s
beneficiary, estate or representative, who has acquired such Award in accordance with the terms of the Plan, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.21<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Incentive Stock Option</U>&rdquo; shall mean an Option which is intended by the Committee to constitute an &ldquo;incentive
stock option&rdquo; and conforms to the applicable provisions of Section 422 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.22<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Incumbent Director</U>&rdquo; shall mean, with respect to any period of time specified under the Plan for purposes of
determining whether or not a Change of Control has occurred, the individuals who were members of the Board at the beginning of such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.23<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Non-qualified Stock Option</U>&rdquo; shall mean an Option which is not an Incentive Stock Option or which is designated
as an Incentive Stock Option but does not meet the applicable requirements of Section 422 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.24<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Option</U>&rdquo; shall mean an Award granted under Article VII of the Plan of an option to purchase Shares and shall
include both Incentive Stock Options and Non-qualified Stock Options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">2.25
&ldquo;<U>Option Agreement</U>&rdquo; shall mean a written agreement between the Company and a Holder with respect to an Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.26<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Performance Criteria</U>&rdquo; shall mean the criteria selected by the Committee for purposes of establishing the Performance
Goal(s) for a Holder for a Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.27<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Performance Goals</U>&rdquo; shall mean, for a Performance Period, the written goal or goals established by the Committee
for the Performance Period based upon the Performance Criteria, which may be related to the performance of the Holder, the Company or
an Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.28<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Performance Period</U>&rdquo; shall mean one or more periods of time, which may be of varying and overlapping durations,
selected by the Committee, over which the attainment of the Performance Goals shall be measured for purposes of determining a Holder&rsquo;s
right to, and the payment of, a Performance Stock Award or a Performance Unit Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.29<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Performance Stock Award</U>&rdquo; or &ldquo;<U>Performance Stock</U>&rdquo; shall mean an Award granted under Article
XII of the Plan under which, upon the satisfaction of predetermined Performance Goals, Shares are paid to the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.30<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Performance Stock A</U>g<U>reement</U>&rdquo; shall mean a written agreement between the Company and a Holder with respect
to a Performance Stock Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">2.31
&ldquo;<U>Performance Unit</U>&rdquo; shall mean a Unit awarded to a Holder pursuant to a Performance Unit Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.32<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Performance Unit Award</U>&rdquo; shall mean an Award granted under Article XI of the Plan under which, upon the satisfaction
of predetermined Performance Goals, a cash payment shall be made to the Holder, based on the number of Units awarded to the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.33<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Performance Unit A</U>g<U>reement</U>&rdquo; shall mean a written agreement between the Company and a Holder with respect
to a Performance Unit Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.34<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Plan</U>&rdquo; shall mean this Gulf Resources Inc. 2025 Stock Incentive Plan, as amended from time to time, together
with each of the Award Agreements utilized hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.35<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Restricted Stock Award</U>&rdquo; and &ldquo;<U>Restricted Stock</U>&rdquo; shall mean an Award granted under Article
VIII of the Plan of Shares, the transferability of which by the Holder is subject to Restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.36<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Restricted Stock A</U>g<U>reement</U>&rdquo; shall mean a written agreement between the Company and a Holder with respect
to a Restricted Stock Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.37<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Restricted Stock Unit Award</U>&rdquo; and &ldquo;<U>RSUs</U>&rdquo; shall refer to an Award granted under Article X
of the Plan under which, upon the satisfaction of predetermined individual service-related vesting requirements, a cash payment shall
be made to the Holder, based on the number of Units awarded to the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.38<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Restricted Stock Unit A</U>g<U>reement</U>&rdquo; shall mean a written agreement between the Company and a Holder with
respect to a Restricted Stock Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.39<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Restriction Period</U>&rdquo; shall mean the period of time for which Shares subject to a Restricted Stock Award shall
be subject to Restrictions, as set forth in the applicable Restricted Stock Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.40<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Restrictions</U>&rdquo; shall mean the forfeiture, transfer and/or other restrictions applicable to Shares awarded to
an Employee, Director or Consultant under the Plan pursuant to a Restricted Stock Award and set forth in a Restricted Stock Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.41<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Rule 16b-3</U>&rdquo; shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the Exchange
Act, as such may be amended from time to time, and any successor rule, regulation or statute fulfilling the same or a substantially similar
function.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 0.5in; text-align: justify">2.42
&ldquo;<U>Shares</U>&rdquo; or &ldquo;<U>Stock</U>&rdquo; shall mean the common stock of the Company, par value $0.0005 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.43<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Stock Appreciation Right</U>&rdquo; or &ldquo;<U>SAR</U>&rdquo; shall mean an Award granted under Article XIV of the
Plan of a right, granted alone or in connection with a related Option, to receive a payment equal to the increase in value of a specified
number of Shares between the date of Award and the date of exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.44<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Stock Appreciation Right Agreement</U>&rdquo; shall mean a written agreement between the Company and a Holder with respect
to a Stock Appreciation Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.45<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Tandem Stock Appreciation Right</U>&rdquo; shall mean a Stock Appreciation Right granted in connection with a related
Option, the exercise of some or all of which results in termination of the entitlement to purchase some or all of the Shares under the
related Option, all as set forth in Article XIV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.46<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>&ldquo;<U>Ten Percent Stockholder</U>&rdquo; shall mean an Employee who, at the time an Option is granted to him or her, owns shares
possessing more than ten percent (10%) of the total combined voting power of all classes of shares of the Company or of any parent corporation
or subsidiary corporation thereof (both as defined in Section 424 of the Code), within the meaning of Section 422(b)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-align: justify">(6) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.47<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Termination of Service</U>&rdquo; shall mean a termination of a Holder&rsquo;s employment with, or status as a Director
or Consultant of, the Company or an Affiliate, as applicable, for any reason, including, without limitation, Total and Permanent Disability
or death, except as provided in Section 6.4. In the event Termination of Service shall constitute a payment event with respect to any
Award subject to Code Section 409A, Termination of Service shall only be deemed to occur upon a &ldquo;separation from service&rdquo;
as such term is defined under Code Section 409A and applicable authorities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.48<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT>&ldquo;<U>Total
and Permanent Disabilit</U>y&rdquo; of an individual shall mean the inability of such individual to engage in any substantial gainful
activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has
lasted or can be expected to last for a continuous period of not less than twelve (12) months, within the meaning of Section 22(e)(3)
of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.49<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Unit</U>&rdquo; shall mean a bookkeeping unit, which represents such monetary amount as shall be designated by the Committee
in each Performance Unit Agreement, or represents one Share for purposes of each Restricted Stock Unit Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.50<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp; </FONT>&ldquo;<U>Unrestricted
Stock Award</U>&rdquo; shall mean an Award granted under Article IX of the Plan of Shares which are not subject to Restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">2.51<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>&ldquo;<U>Unrestricted Stock A</U>g<U>reement</U>&rdquo; shall mean a written agreement between the Company and a Holder with respect
to an Unrestricted Stock Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE III</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">EFFECTIVE DATE OF PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-indent: 0.5in">The Plan shall be effective as of the
Effective Date, provided that the Plan is approved by the stockholders of the Company within twelve (12) months of such date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE IV</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ADMINISTRATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">4.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Composition of Committee</U>. The Plan shall be administered by the Committee, which shall be appointed by the Board. If necessary,
in the Board&rsquo;s discretion, to comply with Rule 16b-3 under the Exchange Act or relevant securities exchange or inter-dealer quotation
service, the Committee shall consist solely of two (2) or more Directors who are each (i) &ldquo;non-employee directors&rdquo; within
the meaning of Rule 16b-3 and (ii) &ldquo;independent&rdquo; for purposes of any applicable listing requirements. If a member of the Committee
shall be eligible to receive an Award under the Plan, such Committee member shall have no authority hereunder with respect to his or her
own Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">4.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Powers</U>. Subject to the other provisions of the Plan, the Committee shall have the sole authority, in its discretion, to
make all determinations under the Plan, including but not limited to (i) determining which Employees, Directors or Consultants shall receive
an Award, (ii) the time or times when an Award shall be made (the date of grant of an Award shall be the date on which the Award is awarded
by the Committee), (iii) what type of Award shall be granted, (iv) the term of an Award, (v) the date or dates on which an Award vests,
(vi) the form of any payment to be made pursuant to an Award, (vii) the terms and conditions of an Award (including the forfeiture of
the Award, and/or any financial gain, if the Holder of the Award violates any applicable restrictive covenant thereof), (viii) the Restrictions
under a Restricted Stock Award, (ix) the number of Shares which may be issued under an Award, (x) Performance Goals applicable to any
Award and certification of the achievement of such goals, and (xi) the waiver of any Restrictions or Performance Goals, subject in all
cases to compliance with applicable laws. In making such determinations the Committee may take into account the nature of the services
rendered by the respective Employees, Directors and Consultants, their present and potential contribution to the Company&rsquo;s (or the
Affiliate&rsquo;s) success and such other factors as the Committee in its discretion may deem relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">4.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Additional Powers</U>. The Committee shall have such additional powers as are delegated to it under the other provisions of
the Plan. Subject to the express provisions of the Plan, the Committee is authorized to construe the Plan and the respective Award Agreements
executed hereunder, to prescribe such rules and regulations relating to the Plan as it may deem advisable to carry out the intent of the
Plan, to determine the terms, restrictions and provisions of each Award and to make all other determinations necessary or advisable for
administering the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in any Award Agreement
in the manner and to the extent the Committee shall deem necessary, appropriate or expedient to carry it into effect. The determinations
of the Committee on the matters referred to in this Article IV shall be conclusive and binding on the Company and all Holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">4.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Committee Action</U>. Subject to compliance with all applicable laws, action by the Committee shall require the consent of a
majority of the members of the Committee, expressed either orally at a meeting of the Committee or in writing in the absence of a meeting.
No member of the Committee shall have any liability for any good faith action, inaction or determination in connection with the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE V</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SHARES SUBJECT TO PLAN
AND LIMITATIONS THEREON</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">5.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Authorized Shares and Award Limits</U>. The Committee may from time to time grant Awards to one or more Employees, Directors
and/or Consultants determined by it to be eligible for participation in the Plan in accordance with the provisions of Article VI. Subject
to Article XV, the aggregate number of Shares that may be issued under the Plan shall not exceed 2,000,000 Shares inclusive of awards
previously issued and outstanding under the Gulf Resources, Inc. 2019 Omnibus Equity Incentive Plan (the &ldquo;<U>2019 Plan</U>&rdquo;).
Upon adoption of this Plan, the 2019 Plan shall be frozen, no new awards shall be granted thereunder, and outstanding awards thereunder
shall continue to be governed by the terms and condition of the 2019 Plan and applicable award agreement. Shares shall be deemed to have
been issued under the Plan solely to the extent actually issued and delivered pursuant to an Award. To the extent that an Award lapses,
expires, is canceled, is terminated unexercised or ceases to be exercisable for any reason, or the rights of its Holder terminate, any
Shares subject to such Award shall again be available for the grant of a new Award. Notwithstanding any provision in the Plan to the contrary,
the maximum number of Shares that may be subject to Awards of Options under Article VII and/or Stock Appreciation Rights under Article
XIV, in either or both cases granted to any one person during any calendar year, shall be One Million (1,000,000) Shares (subject to adjustment
in the same manner as provided in Article XV with respect to Shares subject to Awards then outstanding).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">5.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Types of Shares</U>. The Shares to be issued pursuant to the grant or exercise of an Award may consist of authorized but unissued
Shares, Shares purchased on the open market or Shares previously issued and outstanding and reacquired by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE VI</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ELIGIBILITY AND TERMINATION
OF SERVICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">6.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Eli</U>g<U>ibility</U>. Awards made under the Plan may be granted solely to individuals or entities who, at the time of grant,
are Employees, Directors or Consultants. An Award may be granted on more than one occasion to the same Employee, Director or Consultant,
and, subject to the limitations set forth in the Plan, such Award may include, a Non-qualified Stock Option, a Restricted Stock Award,
a Restricted Stock Unit Award, an Unrestricted Stock Award, a Distribution Equivalent Right Award, a Performance Stock Award, a Performance
Unit Award, a Stock Appreciation Right, a Tandem Stock Appreciation Right, or any combination thereof, and solely for Employees, an Incentive
Stock Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">6.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Termination of Service</U>. Except to the extent inconsistent with the terms of the applicable Award Agreement and/or the provisions
of Section 6.3 or 6.4, the following terms and conditions shall apply with respect to a Holder&rsquo;s Termination of Service with the
Company or an Affiliate, as applicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 1in; text-align: justify">(a)
The Holder&rsquo;s rights, if any, to exercise any then exercisable Options and/or Stock Appreciation Rights shall terminate:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>If such termination is for a reason other than the Holder&rsquo;s Total and Permanent Disability or death, ninety (90) days after
the date of such Termination of Service;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT>If such termination is on account of the Holder&rsquo;s Total and Permanent Disability, one (1) year after the date of such Termination
of Service; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 1.5in; text-align: justify">(iii)
If such termination is on account of the Holder&rsquo;s death, one (1) year after the date of the Holder&rsquo;s death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify">Upon such applicable date the
Holder (and such Holder&rsquo;s estate, designated beneficiary or other legal representative) shall forfeit any rights or interests in
or with respect to any such Options and Stock Appreciation Rights. Notwithstanding the foregoing, the Committee, in its sole discretion,
may provide for a different time period in the Award Agreement, or may extend the time period, following a Termination of Service, during
which the Holder has the right to exercise any vested Non-qualified Stock Option or Stock Appreciation Right, which time period may not
extend beyond the expiration date of the Award term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT>In the event of a Holder&rsquo;s Termination of Service for any reason prior to the actual or deemed satisfaction and/or lapse
of the Restrictions, vesting requirements, terms and conditions applicable to a Restricted Stock Award and/or Restricted Stock Unit Award,
such Restricted Stock and/or RSUs shall immediately be canceled, and the Holder (and such Holder&rsquo;s estate, designated beneficiary
or other legal representative) shall forfeit any rights or interests in and with respect to any such Restricted Stock and/or RSUs. Notwithstanding
the immediately preceding sentence, the Committee, in its sole discretion, may determine, prior to or within thirty (30) days after the
date of such Termination of Service that all or a portion of any such Holder&rsquo;s Restricted Stock and/or RSUs shall not be so canceled
and forfeited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">6.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Special Termination Rule</U>. Except to the extent inconsistent with the terms of the applicable Award Agreement, and notwithstanding
anything to the contrary contained in this Article VI, if a Holder&rsquo;s employment with, or status as a Director of, the Company or
an Affiliate shall terminate, and if, within ninety (90) days of such termination, such Holder shall become a Consultant, such Holder&rsquo;s
rights with respect to any Award or portion thereof granted thereto prior to the date of such termination may be preserved, if and to
the extent determined by the Committee in its sole discretion, as if such Holder had been a Consultant for the entire period during which
such Award or portion thereof had been outstanding. Should the Committee effect such determination with respect to such Holder, for all
purposes of the Plan, such Holder shall not be treated as if his or her employment or Director status had terminated until such time as
his or her Consultant status shall terminate, in which case his or her Award, as it may have been reduced in connection with the Holder&rsquo;s
becoming a Consultant, shall be treated pursuant to the provisions of Section 6.2, provided, however, that any such Award which is intended
to be an Incentive Stock Option shall, upon the Holder&rsquo;s no longer being an Employee, automatically convert to a Non-qualified Stock
Option. Should a Holder&rsquo;s status as a Consultant terminate, and if, within ninety (90) days of such termination, such Holder shall
become an Employee or a Director, such Holder&rsquo;s rights with respect to any Award or portion thereof granted thereto prior to the
date of such termination may be preserved, if and to the extent determined by the Committee in its sole discretion, as if such Holder
had been an Employee or a Director, as applicable, for the entire period during which such Award or portion thereof had been outstanding,
and, should the Committee effect such determination with respect to such Holder, for all purposes of the Plan, such Holder shall not be
treated as if his or her Consultant status had terminated until such time as his or her employment with the Company or an Affiliate, or
his or her Director status, as applicable, shall terminate, in which case his or her Award shall be treated pursuant to the provisions
of Section 6.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">6.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Termination of Service for Cause</U>. Notwithstanding anything in this Article VI or elsewhere in the Plan to the contrary,
and unless a Holder&rsquo;s Award Agreement specifically provides otherwise, in the event of a Holder&rsquo;s Termination of Service for
Cause, all of such Holder&rsquo;s then outstanding Awards shall expire immediately and be forfeited in their entirety upon such Termination
of Service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE VII</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">OPTIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Option Period</U>. The term of each Option shall be as specified in the Option Agreement; provided, <U>however</U>, that except
as set forth in Section 7.3, no Option shall be exercisable after the expiration of ten (10) years from the date of its grant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Limitations on Exercise of Option</U>. An Option shall be exercisable in whole or in such installments and at such times as
specified in the Option Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Special Limitations on Incentive Stock Options</U>. To the extent that the aggregate Fair Market Value (determined at the time
the respective Incentive Stock Option is granted) of Shares with respect to which Incentive Stock Options are exercisable for the first
time by an individual during any calendar year under all plans of the Company and any parent corporation or subsidiary corporation thereof
(both as defined in Section 424 of the Code) which provide for the grant of Incentive Stock Options exceeds One Hundred Thousand Dollars
($100,000) (or such other individual limit as may be in effect under the Code on the date of grant), the portion of such Incentive Stock
Options that exceeds such threshold shall be treated as Non-qualified Stock Options. The Committee shall determine, in accordance with
applicable provisions of the Code, Treasury Regulations and other administrative pronouncements, which of a Holder&rsquo;s Options, which
were intended by the Committee to be Incentive Stock Options when granted to the Holder, will not constitute Incentive Stock Options because
of such limitation, and shall notify the Holder of such determination as soon as practicable after such determination. No Incentive Stock
Option shall be granted to an Employee if, at the time the Incentive Stock Option is granted, such Employee is a Ten Percent Stockholder,
unless (i) at the time such Incentive Stock Option is granted the Option price is at least one hundred ten percent (110%) of the Fair
Market Value of the Shares subject to the Incentive Stock Option, and (ii) such Incentive Stock Option by its terms is not exercisable
after the expiration of five (5) years from the date of grant. No Incentive Stock Option shall be granted more than ten (10) years from
the earlier of the Effective Date or date on which the Plan is approved by the Company&rsquo;s stockholders. The designation by the Committee
of an Option as an Incentive Stock Option shall not guarantee the Holder that the Option will satisfy the applicable requirements for
&ldquo;incentive stock option&rdquo; status under Section 422 of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Option Agreement</U>. Each Option shall be evidenced by an Option Agreement in such form and containing such provisions not
inconsistent with the other provisions of the Plan as the Committee from time to time shall approve, including, but not limited to, provisions
intended to qualify an Option as an Incentive Stock Option. An Option Agreement may provide for the payment of the Option price, in whole
or in part, by the delivery of a number of Shares (plus cash if necessary) that have been owned by the Holder for at least six (6) months
and having a Fair Market Value equal to such Option price, or such other forms or methods as the Committee may determine from time to
time, in each case, subject to such rules and regulations as may be adopted by the Committee. Each Option Agreement shall, solely to the
extent inconsistent with the provisions of Sections 6.2, 6.3, and 6.4, as applicable, specify the effect of Termination of Service on
the exercisability of the Option. Moreover, without limiting the generality of the foregoing, a Non-qualified Stock Option Agreement may
provide for a &ldquo;cashless exercise&rdquo; of the Option, in whole or in part, by (a) establishing procedures whereby the Holder, by
a properly-executed written notice, directs (i) an immediate market sale or margin loan as to all or a part of Shares to which he is entitled
to receive upon exercise of the Option, pursuant to an extension of credit by the Company to the Holder of the Option price, (ii) the
delivery of the Shares from the Company directly to a brokerage firm and (iii) the delivery of the Option price from sale or margin loan
proceeds from the brokerage firm directly to the Company, or (b) reducing the number of Shares to be issued upon exercise of the Option
by the number of such Shares having an aggregate Fair Market Value equal to the Option price (or portion thereof to be so paid) as of
the date of the Option&rsquo;s exercise. An Option Agreement may also include provisions relating to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify">(i) subject to the provisions
hereof, accelerated vesting of Options, including but not limited to, upon the occurrence of a Change of Control, (ii) tax matters (including
provisions covering any applicable Employee wage withholding requirements and requiring additional &ldquo;gross-up&rdquo; payments to
Holders to meet any excise taxes or other additional income tax liability imposed as a result of a payment made upon a Change of Control
resulting from the operation of the Plan or of such Option Agreement) and (iii) any other matters not inconsistent with the terms and
provisions of the Plan that the Committee shall in its sole discretion determine. The terms and conditions of the respective Option Agreements
need not be identical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Option Price and Payment</U>. The price at which an Share may be purchased upon exercise of an Option shall be determined by
the Committee; provided, <U>however</U>, that such Option price (i) shall not be less than the Fair Market Value of an Share on the date
such Option is granted (or 110% of Fair Market Value for an Incentive Stock Option held by Ten Percent Stockholder, as provided in Section
7.3), and (ii) shall be subject to adjustment as provided in Article XV. The Option or portion thereof may be exercised by delivery of
an irrevocable notice of exercise to the Company. The Option price for the Option or portion thereof shall be paid in full in the manner
prescribed by the Committee as set forth in the Plan and the applicable Option Agreement, which manner, with the consent of the Committee,
may include the withholding of Shares otherwise issuable in connection with the exercise of the Option. Separate share certificates shall
be issued by the Company for those Shares acquired pursuant to the exercise of an Incentive Stock Option and for those Shares acquired
pursuant to the exercise of a Non-qualified Stock Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Stockholder Ri</U>g<U>hts and Privileges</U>. The Holder of an Option shall be entitled to all the privileges and rights of
a stockholder of the Company solely with respect to such Shares as have been purchased under the Option and for which share certificates
have been registered in the Holder&rsquo;s name.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Options and Rights in Substitution for Stock or Options Granted by Other Corporations</U>. Options may be granted under the
Plan from time to time in substitution for stock options held by individuals employed by entities who become Employees, Directors or Consultants
as a result of a merger or consolidation of the employing entity with the Company or any Affiliate, or the acquisition by the Company
or an Affiliate of the assets of the employing entity, or the acquisition by the Company or an Affiliate of stock or shares of the employing
entity with the result that such employing entity becomes an Affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">7.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Prohibition A</U>g<U>ainst Re-Pricing</U>. Except to the extent (i) approved in advance by holders of a majority of the shares
of the Company entitled to vote generally in the election of directors, or (ii) as a result of any Change of Control or any adjustment
as provided in Article XV, the Committee shall not have the power or authority to reduce, whether through amendment or otherwise, the
exercise price under any outstanding Option or Stock Appreciation Right, or to grant any new Award or make any payment of cash in substitution
for or upon the cancellation of Options and/or Stock Appreciation Rights previously granted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE VIII</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">RESTRICTED STOCK AWARDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">8.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Award</U>. A Restricted Stock Award shall constitute an Award of Shares to the Holder as of the date of the Award which are
subject to a &ldquo;substantial risk of forfeiture&rdquo; as defined under Section 83 of the Code during the specified Restriction Period.
At the time a Restricted Stock Award is made, the Committee shall establish the Restriction Period applicable to such Award. Each Restricted
Stock Award may have a different Restriction Period, in the discretion of the Committee. The Restriction Period applicable to a particular
Restricted Stock Award shall not be changed except as permitted by Section 8.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">8.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Terms and Conditions</U>. At the time any Award is made under this Article VIII, the Company and the Holder shall enter into
a Restricted Stock Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine
to be appropriate. The Company shall cause the Shares to be issued in the name of Holder, either by book-entry registration or issuance
of one or more stock certificates evidencing the Shares, which Shares or certificates shall be held by the Company or the stock transfer
agent or brokerage service selected by the Company to provide services for the Plan. The Shares shall be restricted from transfer and
shall be subject to an appropriate stop-transfer order, and if any certificate is issued, such certificate shall bear an appropriate legend
referring to the restrictions applicable to the Shares. After any Shares vest, the Company shall deliver the vested Shares, in book-entry
or certificated form in the Company&rsquo;s sole discretion, registered in the name of Holder or his or her legal representatives, beneficiaries
or heirs, as the case may be, less any Shares withheld to pay withholding taxes. If provided for under the Restricted Stock Agreement,
the Holder shall have the right to vote Shares subject thereto and to enjoy all other stockholder rights, including the entitlement to
receive dividends on the Shares during the Restriction Period. At the time of such Award, the Committee may, in its sole discretion, prescribe
additional terms and conditions or restrictions relating to Restricted Stock Awards, including, but not limited to, rules pertaining to
the effect of Termination of Service prior to expiration of the Restriction Period. Such additional terms, conditions or restrictions
shall, to the extent inconsistent with the provisions of Sections 6.2, 6.3 and 6.4, as applicable, be set forth in a Restricted Stock
Agreement made in conjunction with the Award. Such Restricted Stock Agreement may also include provisions relating to: (i) subject to
the provisions hereof, accelerated vesting of Awards, including but not limited to accelerated vesting upon the occurrence of a Change
of Control, (ii) tax matters (including provisions covering any applicable Employee wage withholding requirements and requiring additional
&ldquo;gross-up&rdquo; payments to Holders to meet any excise taxes or other additional income tax liability imposed as a result of a
payment made in connection with a Change of Control resulting from the operation of the Plan or of such Restricted Stock Agreement) and
(iii) any other matters not inconsistent with the terms and provisions of the Plan that the Committee shall in its sole discretion determine.
The terms and conditions of the respective Restricted Stock Agreements need not be identical. All Shares delivered to a Holder as part
of a Restricted Stock Award shall be delivered and reported by the Company or the Affiliate, as applicable, to the Holder at the time
of vesting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">8.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Payment for Restricted Stock</U>. The Committee shall determine the amount and form of any payment from a Holder for Shares
received pursuant to a Restricted Stock Award, if any, provided that in the absence of such a determination, a Holder shall not be required
to make any payment for Shares received pursuant to a Restricted Stock Award, except to the extent otherwise required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE IX</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">UNRESTRICTED STOCK AWARDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">9.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Award</U>. Shares may be awarded (or sold) to Employees, Directors or Consultants under the Plan which are not subject to Restrictions
of any kind, in consideration for past services rendered thereby to the Company or an Affiliate or for other valid consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">9.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Terms and Conditions.</U> At the time any Award is made under this Article IX, the Company and the Holder shall enter into an
Unrestricted Stock Agreement setting forth each of the matters contemplated hereby and such other matters as the Committee may determine
to be appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">9.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Payment for Unrestricted Stock</U>. The Committee shall determine the amount and form of any payment from a Holder for Shares
received pursuant to an Unrestricted Stock Award, if any, provided that in the absence of such a determination, a Holder shall not be
required to make any payment for Shares received pursuant to an Unrestricted Stock Award, except to the extent otherwise required by
law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE X</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">RESTRICTED STOCK UNIT AWARDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">10.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Award</U>. A Restricted Stock Unit Award shall constitute a promise to grant Shares (or cash equal to the Fair Market Value
of Shares) to the Holder at the end of a specified Restriction Period. At the time a Restricted Stock Unit Award is made, the Committee
shall establish the Restriction Period applicable to such Award. Each Restricted Stock Unit Award may have a different Restriction Period,
in the discretion of the Committee. A Restricted Stock Unit shall not constitute an equity interest in the Company and shall not entitle
the Holder to voting rights, dividends or any other rights associated with ownership of Shares prior to the time the Holder shall receive
a distribution of Shares pursuant to Section 10.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">10.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Terms and Conditions</U>. At the time any Award is made under this Article X, the Company and the Holder shall enter into a
Restricted Stock Unit Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine
to be appropriate. The Restricted Stock Unit Agreement shall set forth the individual service-based vesting requirement which the Holder
would be required to satisfy before the Holder would become entitled to distribution pursuant to Section 10.3 and the number of Units
awarded to the Holder. Such conditions shall be sufficient to constitute a &ldquo;substantial risk of forfeiture&rdquo; as such term is
defined under Section 409A of the Code. At the time of such Award, the Committee may, in its sole discretion, prescribe additional terms
and conditions or restrictions relating to Restricted Stock Unit Awards in the Restricted Stock Unit Agreement, including, but not limited
to, rules pertaining to the effect of Termination of Service prior to expiration of the applicable vesting period. The terms and conditions
of the respective Restricted Stock Unit Agreements need not be identical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">10.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Distributions of Shares</U>. The Holder of a Restricted Stock Unit shall be entitled to receive a cash payment equal to the
Fair Market Value of a Share, or one Share, as determined in the sole discretion of the Committee and as set forth in the Restricted Stock
Unit Agreement, for each Restricted Stock Unit subject to such Restricted Stock Unit Award, if the Holder satisfies the applicable vesting
requirement. Such distribution shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar month next following
the end of the calendar year in which the Restricted Stock Unit first becomes vested (i.e., no longer subject to a &ldquo;substantial
risk of forfeiture&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE XI</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">PERFORMANCE UNIT AWARDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">11.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Award</U>. A Performance Unit Award shall constitute an Award under which, upon the satisfaction of predetermined individual
and/or Company (and/or Affiliate) Performance Goals based on selected Performance Criteria, a cash payment shall be made to the Holder,
based on the number of Units awarded to the Holder. At the time a Performance Unit Award is made, the Committee shall establish the Performance
Period and applicable Performance Goals. Each Performance Unit Award may have different Performance Goals, in the discretion of the Committee.
A Performance Unit Award shall not constitute an equity interest in the Company and shall not entitle the Holder to voting rights, dividends
or any other rights associated with ownership of Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">11.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Terms and Conditions</U>. At the time any Award is made under this Article XI, the Company and the Holder shall enter into a
Performance Unit Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine
to be appropriate. The Committee shall set forth in the applicable Performance Unit Agreement the Performance Period, Performance Criteria
and Performance Goals which the Holder and/or the Company would be required to satisfy before the Holder would become entitled to payment
pursuant to Section 11.3, the number of Units awarded to the Holder and the dollar value or formula assigned to each such Unit. Such payment
shall be subject to a &ldquo;substantial risk of forfeiture&rdquo; under Section 409A of the Code. At the time of such Award, the Committee
may, in its sole discretion, prescribe additional terms and conditions or restrictions relating to Performance Unit Awards, including,
but not limited to, rules pertaining to the effect of Termination of Service prior to expiration of the applicable performance period.
The terms and conditions of the respective Performance Unit Agreements need not be identical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">11.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT><U>Payments</U>.
The Holder of a Performance Unit shall be entitled to receive a cash payment equal to the dollar value assigned to such Unit under the
applicable Performance Unit Agreement if the Holder and/or the Company satisfy (or partially satisfy, if applicable under the applicable
Performance Unit Agreement) the Performance Goals set forth in such Performance Unit Agreement. All payments shall be made no later than
by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company&rsquo;s fiscal year to which such
performance goals and objectives relate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE XII</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">PERFORMANCE STOCK AWARDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">12.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Award</U>. A Performance Stock Award shall constitute a promise to grant Shares (or cash equal to the Fair Market Value of Shares)
to the Holder at the end of a specified Performance Period subject to achievement of specified Performance Goals. At the time a Performance
Stock Award is made, the Committee shall establish the Performance Period and applicable Performance Goals based on selected Performance
Criteria. Each Performance Stock Award may have different Performance Goals, in the discretion of the Committee. A Performance Stock Award
shall not constitute an equity interest in the Company and shall not entitle the Holder to voting rights, dividends or any other rights
associated with ownership of Shares unless and until the Holder shall receive a distribution of Shares pursuant to Section 12.3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">12.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Terms and Conditions</U>. At the time any Award is made under this Article XII, the Company and the Holder shall enter into
a Performance Stock Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may determine
to be appropriate. The Committee shall set forth in the applicable Performance Stock Agreement the Performance Period, selected Performance
Criteria and Performance Goals which the Holder and/or the Company would be required to satisfy before the Holder would become entitled
to the receipt of Shares pursuant to such Holder&rsquo;s Performance Stock Award and the number of Shares subject to such Performance
Stock Award. Such distribution shall be subject to a &ldquo;substantial risk of forfeiture&rdquo; under Section 409A of the Code. If such
Performance Goals are achieved, the distribution of Shares (or the payment of cash, as determined in the sole discretion of the Committee),
shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company&rsquo;s
fiscal year to which such goals and objectives relate. At the time of such Award, the Committee may, in its sole discretion, prescribe
additional terms and conditions or restrictions relating to Performance Stock Awards, including, but not limited to, rules pertaining
to the effect of the Holder&rsquo;s Termination of Service prior to the expiration of the applicable performance period. The terms and
conditions of the respective Performance Stock Agreements need not be identical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">12.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Distributions of Shares</U>. The Holder of a Performance Stock Award shall be entitled to receive a cash payment equal to the
Fair Market Value of a Share, or one Share, as determined in the sole discretion of the Committee, for each Performance Stock Award subject
to such Performance Stock Agreement, if the Holder satisfies the applicable vesting requirement. Such distribution shall be made no later
than by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company&rsquo;s fiscal year to which
such performance goals and objectives relate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE XIII</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">DISTRIBUTION EQUIVALENT
RIGHTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">13.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Award</U>. A Distribution Equivalent Right shall entitle the Holder to receive bookkeeping credits, cash payments and/or Share
distributions equal in amount to the distributions that would have been made to the Holder had the Holder held a specified number of Shares
during the specified period of the Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">13.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Terms and Conditions</U>. At the time any Award is made under this Article XIII, the Company and the Holder shall enter into
a Distribution Equivalent Rights Award Agreement setting forth each of the matters contemplated thereby and such other matters as the
Committee may determine to be appropriate. The Committee shall set forth in the applicable Distribution Equivalent Rights Award Agreement
the terms and conditions, if any, including whether the Holder is to receive credits currently in cash, is to have such credits reinvested
(at Fair Market Value determined as of the date of reinvestment) in additional Shares or is to be entitled to choose among such alternatives.
Such receipt shall be subject to a &ldquo;substantial risk of forfeiture&rdquo; under Section 409A of the Code and, if such Award becomes
vested, the distribution of such cash or Shares shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar month
next following the end of the Company&rsquo;s fiscal year in which the Holder&rsquo;s interest in the Award vests. Distribution Equivalent
Rights Awards may be settled in cash or in Shares, as set forth in the applicable Distribution Equivalent Rights Award Agreement. A Distribution
Equivalent Rights Award may, but need not be, awarded in tandem with another Award (other than an Option or a SAR), whereby, if so awarded,
such Distribution Equivalent Rights Award shall expire, terminate or be forfeited by the Holder, as applicable, under the same conditions
as under such other Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">13.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Interest Equivalents</U>. The Distribution Equivalent Rights Award Agreement for a Distribution Equivalent Rights Award may
provide for the crediting of interest on a Distribution Rights Award to be settled in cash at a future date (but in no event later than
by the fifteenth (15th) day of the third (3rd) calendar month next following the end of the Company&rsquo;s fiscal year in which such
interest is credited and vested), at a rate set forth in the applicable Distribution Equivalent Rights Award Agreement, on the amount
of cash payable thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE XIV</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">STOCK APPRECIATION RIGHTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">14.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Award</U>. A Stock Appreciation Right shall constitute a right, granted alone or in connection with a related Option, to receive
a payment equal to the increase in value of a specified number of Shares between the date of Award and the date of exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">14.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Terms and Conditions</U>. At the time any Award is made under this Article XIV, the Company and the Holder shall enter into
a Stock Appreciation Right Agreement setting forth each of the matters contemplated thereby and such other matters as the Committee may
determine to be appropriate. The Committee shall set forth in the applicable Stock Appreciation Right Agreement the terms and conditions
of the Stock Appreciation Right, including (i) the base value (the &ldquo;<U>Base Value</U>&rdquo;) for the Stock Appreciation Right,
which shall be not less than the Fair Market Value of an Share on the date of grant of the Stock Appreciation Right, (ii) the number
of Shares subject to the Stock Appreciation Right, (iii) the period during which the Stock Appreciation Right may be exercised; provided,
<U>however</U>, that no Stock Appreciation Right shall be exercisable after the expiration of ten (10) years from the date of its grant,
and (iv) any other special rules and/or requirements which the Committee imposes upon the Stock Appreciation Right. Upon the exercise
of some or all of the portion of a Stock Appreciation Right, the Holder shall receive a payment from the Company, in cash or in the form
of Shares having an equivalent Fair Market Value or in a combination of both, as determined in the sole discretion of the Committee,
equal to the product of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 1in; text-align: justify">(a)
The excess of (i) the Fair Market Value of an Share on the date of exercise, over (ii) the Base Value,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">multiplied by,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 1in; text-align: justify">(b)
The number of Shares with respect to which the Stock Appreciation Right is exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">14.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Tandem Stock Appreciation Rights</U>. If the Committee grants a Stock Appreciation Right which is intended to be a Tandem Stock
Appreciation Right, the Tandem Stock Appreciation Right shall be granted at the same time as the related Option, and the following special
rules shall apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 1in; text-align: justify">(a)
The Base Value shall be equal to or greater than the per Share exercise price under the related Option;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>The Tandem Stock Appreciation Right may be exercised for all or part of the Shares which are subject to the related Option, but
solely upon the surrender by the Holder of the Holder&rsquo;s right to exercise the equivalent portion of the related Option (and when
a Share is purchased under the related Option, an equivalent portion of the related Tandem Stock Appreciation Right shall be canceled);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.45pt; text-indent: 1in; text-align: justify">(c)
The Tandem Stock Appreciation Right shall expire no later than the date of the expiration of the related</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt">Option;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>The value of the payment with respect to the Tandem Stock Appreciation Right may be no more than one hundred percent (100%) of
the difference between the per Share exercise price under the related Option and the Fair Market Value of the Shares subject to the related
Option at the time the Tandem Stock Appreciation Right is exercised, multiplied by the number of the Shares with respect to which the
Tandem Stock Appreciation Right is exercised; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT>The Tandem Stock Appreciation Right may be exercised solely when the Fair Market Value of the Shares subject to the related Option
exceeds the per Share exercise price under the related Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 129.55pt 0pt 137.15pt; text-align: center">ARTICLE XV</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">RECAPITALIZATION OR REORGANIZATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">15.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Ad</U>j<U>ustments to Shares</U>. The shares with respect to which Awards may be granted under the Plan are Shares as presently
constituted; provided, <U>however</U>, that if, and whenever, prior to the expiration or distribution to the Holder of Shares underlying
an Award theretofore granted, the Company shall effect a subdivision or consolidation of the Shares or the payment of an Share dividend
on Shares without receipt of consideration by the Company, the number of Shares with respect to which such Award may thereafter be exercised
or satisfied, as applicable, (i) in the event of an increase in the number of outstanding Shares, shall be proportionately increased,
and the purchase price per Share shall be proportionately reduced, and (ii) in the event of a reduction in the number of outstanding
Shares, shall be proportionately reduced, and the purchase price per Share shall be proportionately increased. Notwithstanding the foregoing
or any other provision of this Article XV, any adjustment made with respect to an Award (x) which is an Incentive Stock Option, shall
comply with the requirements of Section 424(a) of the Code, and in no event shall any adjustment be made which would render any Incentive
Stock Option granted under the Plan to be other than an &ldquo;incentive stock option&rdquo; for purposes of Section 422 of the Code,
and (y) which is a Non-qualified Stock Option, shall comply with the requirements of Section 409A of the Code, and in no event shall
any adjustment be made which would render any Non-qualified Stock Option granted under the Plan to become subject to Section 409A of
the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">15.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Recapitalization</U>. If the Company recapitalizes or otherwise changes its capital structure, thereafter upon any exercise
or satisfaction, as applicable, of a previously granted Award, the Holder shall be entitled to receive (or entitled to purchase, if applicable)
under such Award, in lieu of the number of Shares then covered by such Award, the number and class of shares and securities to which the
Holder would have been entitled pursuant to the terms of the recapitalization if, immediately prior to such recapitalization, the Holder
had been the holder of record of the number of Shares then covered by such Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">15.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Other Events</U>. In the event of changes to the outstanding Shares by reason of an extraordinary cash dividend, reorganization,
merger, consolidation, combination, split-up, spin-off, exchange or other relevant change in capitalization occurring after the date of
the grant of any Award and not otherwise provided for under this Article XV, any outstanding Awards and any Award Agreements evidencing
such Awards shall be adjusted by the Board in its discretion in such manner as the Board shall deem equitable or appropriate taking into
consideration the applicable accounting and tax consequences, as to the number and price of Shares or other consideration subject to such
Awards. In the event of any adjustment pursuant to Sections 15.1, 15.2 or this Section 15.3, the aggregate number of Shares available
under the Plan pursuant to Section 5.1 may be appropriately adjusted by the Board, the determination of which shall be conclusive. In
addition, the Committee may make provision for a cash payment to a Holder or a person who has an outstanding Award. In addition, the Committee
may make provision for a cash payment to a Holder or a person who has an outstanding Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 7.1pt; text-align: justify; text-indent: 35.45pt">15.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Chan</U>g<U>e of Control</U>. The Committee may, in its sole discretion, at the time an Award is made or at any time prior to,
coincident with or after the time of a Change of Control, cause any Award either (i) to be canceled in consideration of a payment in cash
or other consideration in amount per share equal to the excess, if any, of the price or implied price per Share in the Change of Control
over the per Share exercise, base or purchase price of such Award, which may be paid immediately or over the vesting schedule of the Award;
(ii) to be assumed, or new rights substituted therefore, by the surviving corporation or a parent or subsidiary of such surviving corporation
following such Change of Control; (iii) accelerate any time periods, or waive any other conditions, relating to the vesting, exercise,
payment or distribution of an Award so that any Award to a Holder whose employment has been terminated as a result of a Change of Control
may be vested, exercised, paid or distributed in full on or before a date fixed by the Committee; (iv) to be purchased from a Holder whose
employment has been terminated as a result of a Change of Control, upon the Holder&rsquo;s request, for an amount of cash equal to the
amount that could have been obtained upon the exercise, payment or distribution of such rights had such Award been currently exercisable
or payable; or (v) terminate any then outstanding Award or make any other adjustment to the Awards then outstanding as the Committee deems
necessary or appropriate to reflect such transaction or change. The number of Shares subject to any Award shall be rounded to the nearest
whole number.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">15.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Powers Not Affected</U>. The existence of the Plan and the Awards granted hereunder shall not affect in any way the right or
power of the Board or of the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other
change of the Company&rsquo;s capital structure or business, any merger or consolidation of the Company, any issue of debt or equity securities
ahead of or affecting Shares or the rights thereof, the dissolution or liquidation of the Company or any sale, lease, exchange or other
disposition of all or any part of its assets or business or any other corporate act or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">15.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>No Ad</U>j<U>ustment for Certain Awards</U>. Except as hereinabove expressly provided, the issuance by the Company of shares
of any class or securities convertible into shares of any class, for cash, property, labor or services, upon direct sale, upon the exercise
of rights or warrants to subscribe therefor or upon conversion of shares or obligations of the Company convertible into such shares or
other securities, and in any case whether or not for fair value, shall not affect previously granted Awards, and no adjustment by reason
thereof shall be made with respect to the number of Shares subject to Awards theretofore granted or the purchase price per Share, if applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE XVI</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">AMENDMENT AND TERMINATION
OF PLAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">The
Plan shall continue in effect, unless sooner terminated pursuant to this Article XVI, until the tenth (10<FONT STYLE="font-size: 10pt">th</FONT>)
anniversary of the date on which it is adopted by the Board (except as to Awards outstanding on that date). The Board in its discretion
may terminate the Plan at any time with respect to any shares for which Awards have not theretofore been granted; provided, <U>however</U>,
that the Plan&rsquo;s termination shall not materially and adversely impair the rights of a Holder with respect to any Award theretofore
granted without the consent of the Holder. The Board shall have the right to alter or amend the Plan or any part hereof from time to time;
provided, <U>however</U>, that without the approval by a majority of the votes cast at a meeting of stockholders at which a quorum representing
a majority of the shares of the Company entitled to vote generally in the election of directors is present in person or by proxy, no amendment
or modification of the Plan may (i) materially increase the benefits accruing to Holders, (ii) except as otherwise expressly provided
in Article XV, materially increase the number of Shares subject to the Plan or the individual Award Agreements specified in Article V,
(iii) materially modify the requirements for participation in the Plan, or (iv) amend, modify or suspend Section 7.7 (re- pricing prohibitions)
or this Article XVI. In addition, no change in any Award theretofore granted may be made which would materially and adversely impair the
rights of a Holder with respect to such Award without the consent of the Holder (unless such change is required in order to exempt the
Plan or any Award from Section 409A of the Code).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">ARTICLE XVII</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center">MISCELLANEOUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>No Ri</U>g<U>ht to Award</U>. Neither the adoption of the Plan by the Company nor any action of the Board or the Committee shall
be deemed to give an Employee, Director or Consultant any right to an Award except as may be evidenced by an Award Agreement duly executed
on behalf of the Company, and then solely to the extent and on the terms and conditions expressly set forth therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>No Ri</U>g<U>hts Conferred</U>. Nothing contained in the Plan shall (i) confer upon any Employee any right with respect to continuation
of employment with the Company or any Affiliate, (ii) interfere in any way with any right of the Company or any Affiliate to terminate
the employment of an Employee at any time, (iii) confer upon any Director any right with respect to continuation of such Director&rsquo;s
membership on the Board, (iv) interfere in any way with any right of the Company or an Affiliate to terminate a Director&rsquo;s membership
on the Board at any time, (v) confer upon any Consultant any right with respect to continuation of his or her consulting engagement with
the Company or any Affiliate, or (vi) interfere in any way with any right of the Company or an Affiliate to terminate a Consultant&rsquo;s
consulting engagement with the Company or an Affiliate at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Other Laws; No Fractional Shares; Withholding</U>. The Company shall not be obligated by virtue of any provision of the Plan
to recognize the exercise of any Award or to otherwise sell or issue Shares in violation of any laws, rules or regulations, and any postponement
of the exercise or settlement of any Award under this provision shall not extend the term of such Award. Neither the Company nor its directors
or officers shall have any obligation or liability to a Holder with respect to any Award (or Shares issuable thereunder) (i) that shall
lapse because of such postponement, or (ii) for any failure to comply with the requirements of any applicable law, rules or regulations,
including but not limited to any failure to comply with the requirements of Section 409A of this Code. No fractional Shares shall be delivered,
nor shall any cash in lieu of fractional Shares be paid. The Company shall have the right to deduct in cash (whether under this Plan or
otherwise) in connection with all Awards any taxes required by law to be withheld and to require any payments required to enable it to
satisfy its withholding obligations. In the case of any Award satisfied in the form of Shares, no Shares shall be issued unless and until
arrangements satisfactory to the Company shall have been made to satisfy any tax withholding obligations applicable with respect to such
Award. Subject to such terms and conditions as the Committee may impose, the Company shall have the right to retain, or the Committee
may, subject to such terms and conditions as it may establish from time to time, permit Holders to elect to tender, Shares (including
Shares issuable in respect of an Award) to satisfy, in whole or in part, the amount required to be withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>No Restriction on Corporate Action</U>. Nothing contained in the Plan shall be construed to prevent the Company or any Affiliate
from taking any corporate action which is deemed by the Company or such Affiliate to be appropriate or in its best interest, whether or
not such action would have an adverse effect on the Plan or any Award made under the Plan. No Employee, Director, Consultant, beneficiary
or other person shall have any claim against the Company or any Affiliate as a result of any such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Restrictions on Transfer</U>. No Award under the Plan or any Award Agreement and no rights or interests herein or therein, shall
or may be assigned, transferred, sold, exchanged, encumbered, pledged or otherwise hypothecated or disposed of by a Holder except (i)
by will or by the laws of descent and distribution, or (ii) where permitted under applicable tax rules, by gift to any Family Member of
the Holder, subject to compliance with applicable laws. An Award may be exercisable during the lifetime of the Holder only by such Holder
or by the Holder&rsquo;s guardian or legal representative unless it has been transferred by gift to a Family Member of the Holder, in
which case it shall be exercisable solely by such transferee. Notwithstanding any such transfer, the Holder shall continue to be subject
to the withholding requirements provided for under Section 17.3 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Beneficiar</U>y Designations. Each Holder may, from time to time, name a beneficiary or beneficiaries (who may be contingent
or successive beneficiaries) for purposes of receiving any amount which is payable in connection with an Award under the Plan upon or
subsequent to the Holder&rsquo;s death. Each such beneficiary designation shall serve to revoke all prior beneficiary designations, be
in a form prescribed by the Company and be effective solely when filed by the Holder in writing with the Company during the Holder&rsquo;s
lifetime. In the absence of any such written beneficiary designation, for purposes of the Plan, a Holder&rsquo;s beneficiary shall be
the Holder&rsquo;s estate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;
</FONT><U>Rule 16b-3</U>. It is intended that the Plan and any Award made to a person subject to Section 16 of the Exchange Act shall
meet all of the requirements of Rule 16b-3. If any provision of the Plan or of any such Award would disqualify the Plan or such Award
under, or would otherwise not comply with the requirements of, Rule 16b-3, such provision or Award shall be construed or deemed to have
been amended as necessary to conform to the requirements of Rule 16b-3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Clawback Polic</U>y. Notwithstanding any contained herein or in any incentive &ldquo;performance based&rdquo; Awards under the
Plan shall be subject to reduction, forfeiture or repayment by reason of a correction or restatement of the Company&rsquo;s financial
information if and to the extent such reduction or repayment is required by any applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Section 409A</U>. Notwithstanding any other provision of the Plan, the Committee shall have no authority to issue an Award under
the Plan with terms and/or conditions which would cause such Award to constitute non-qualified &ldquo;deferred compensation&rdquo; under
Section 409A of the Code unless such Award shall be structured to be exempt from or comply with all requirements of Code Section 409A.
The Plan and all Award Agreements are intended to comply with the requirements of Section 409A of the Code (or to be exempt therefrom)
and shall be so interpreted and construed and no amount shall be paid or distributed from the Plan unless and until such payment complies
with all requirements of Code Section 409A. It is the intent of the Company that the provisions of this Agreement and all other plans
and programs sponsored by the Company be interpreted to comply in all respects with Code Section 409A, however, the Company shall have
no liability to the Holder, or any successor or beneficiary thereof, in the event taxes, penalties or excise taxes may ultimately be determined
to be applicable to any payment or benefit received by the Holder or any successor or beneficiary thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
<U>Indemnification</U>. Each person who is or shall have been a member of the Committee or of the Board shall be indemnified and held
harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred thereby
in connection with or resulting from any claim, action, suit, or proceeding to which such person may be made a party or may be involved
by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid thereby in settlement thereof,
with the Company&rsquo;s approval, or paid thereby in satisfaction of any judgment in any such action, suit, or proceeding against such
person; provided, <U>however</U>, that such person shall give the Company an opportunity, at its own expense, to handle and defend the
same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be
exclusive and shall be independent of any other rights of indemnification to which such persons may be entitled under the Company&rsquo;s
Articles of Incorporation or By-laws, by contract, as a matter of law, or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt"><B><I>Gulf Resources, Inc. 2025 Stock Incentive Plan</I></B></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>Other Benefit Plans</U>. No Award, payment or amount received hereunder shall be taken into account in computing an Employee&rsquo;s
salary or compensation for the purposes of determining any benefits under any pension, retirement, life insurance or other benefit plan
of the Company or any Affiliate, unless such other plan specifically provides for the inclusion of such Award, payment or amount received.
Nothing in the Plan shall be construed to limit the right of the Company to establish other plans or to pay compensation to its employees,
in cash or property, in a manner which is not expressly authorized under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Limits of Liabilit</U>y. Any liability of the Company with respect to an Award shall be based solely upon the contractual obligations
created under the Plan and the Award Agreement. None of the Company, any member of the Board nor any member of the Committee shall have
any liability to any party for any action taken or not taken, in good faith, in connection with or under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.13<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;
</FONT><U>Governin</U>g <U>Law</U>. Except as otherwise provided herein, the Plan shall be construed in accordance with the laws of the
State of Nevada, without regard to principles of conflicts of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.65pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.14<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;</FONT><U>Severabilit</U>y of Provisions. If any provision of the Plan is held invalid or unenforceable, such invalidity or unenforceability
shall not affect any other provision of the Plan, and the Plan shall be construed and enforced as if such invalid or unenforceable provision
had not been included in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt; text-align: justify; text-indent: 0.5in">17.15<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;
</FONT><U>No Fundin</U>g. The Plan shall be unfunded. The Company shall not be required to establish any special or separate fund or to
make any other segregation of funds or assets to ensure the payment of any Award. Prior to receipt of Shares or a cash distribution pursuant
to the terms of an Award, such Award shall represent an unfunded unsecured contractual obligation of the Company and the Holder shall
have no greater claim to the Shares underlying such Award or any other assets of the Company or Affiliate than any other unsecured general
creditor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.5in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.6pt 0pt 5.45pt">17.16 <U>Headings</U>. Headings used throughout the Plan are for convenience
only and shall not be given legal significance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: center"><B>*** Exercise Your <I>Right </I>to Vote ***</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: center"><B>Important Notice Regarding the Availability of Proxy Materials for the</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="5" STYLE="text-align: center"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><B>Stockholder Meeting
                                            to Be Held on September 4, 2025</B></P></B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: center"><B><U>Meeting Information</U></B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><I>GULF RESOURCES, INC.</I></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><B>Meeting Type:</B> Annual Meeting</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><B>For holders as of:</B> July 18, 2025</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><B>Date:</B> September 4, 2025 &nbsp;&nbsp;&nbsp;&nbsp;<B>Time:</B>
    10:00 AM LST</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>B</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><B>Location:</B> Gulf Resources, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>A</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; text-indent: 0.5in">Level 11, Vegetable Building</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>R</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; text-indent: 0.5in">Industrial Park of East City</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>C</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; text-indent: 0.5in">Shouguang City</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>O</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-indent: 0.5in">Shandong Province, China</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>D</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>E</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">GULF RESOURCES, INC.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Level 11, Vegetable Building</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Industrial Park of the East City</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Shouguang City, Shandong Province</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">People&rsquo;s Republic of China 262700</P></TD>
    <TD STYLE="border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="4">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">You are receiving this communication because you hold shares in the above named company.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This is not a ballot. You cannot use this notice to vote these
    shares. This communication presents only an overview of the more complete proxy materials that are available to you on the Internet.
    You may view the proxy materials online at <I>www.proxyvote.com</I> or easily request a paper copy (see reverse side).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We encourage
you to access and review all of the important information contained in the proxy materials before voting.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: bottom"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 111px; width: 15px"></TD>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; background-color: #E5E5E5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Investor Address Line 1</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Investor Address Line 2</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Investor Address Line 3</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Investor Address Line 4</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Investor Address Line 5</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">John Sample</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">1234 ANYWHERE STREET</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">ANY CITY, ON A1A 1A1</P></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; background-color: #E5E5E5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: black 1pt solid; border-bottom: black 1pt solid; background-color: #E5E5E5"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 24px; width: 217px"></TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border: black 1pt solid; background-color: black"><FONT STYLE="color: white">See the reverse side of this notice to obtain proxy materials and voting instructions.</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border: black 1pt solid; background-color: #E5E5E5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Broadridge Internal Use Only</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Job #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Envelope #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Sequence #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"># of # Sequence #</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&mdash;&mdash; <B>Before You Vote</B> &mdash;&mdash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">How to Access the Proxy Materials</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Proxy Materials Available to VIEW or RECEIVE:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt">1. Notice &amp; Proxy Statement 2. 10-K </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>How to View Online:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt">Have the information that is printed in the box marked by the arrow <IMG SRC="image_005.jpg" ALT="" STYLE="height: 14px; width: 105px">&nbsp;(located on the following page) and visit: <I>www.proxyvote.com.</I></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>How to Request and Receive a PAPER or E-MAIL Copy:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt">If you want to receive a paper or e-mail copy of these documents, you must request one. There is NO charge for requesting a copy. Please choose one of the following methods to make your request:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; text-indent: 63pt"><FONT STYLE="font-size: 10pt">1) BY INTERNET: www.proxyvote.com</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; text-indent: 63pt"><FONT STYLE="font-size: 10pt">2) BY TELEPHONE: 1-800-579-1639</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; text-indent: 63pt"><FONT STYLE="font-size: 10pt">3) BY E-MAIL*: sendmaterial@proxyvote.com</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt">* If requesting materials by e-mail, please send a blank e-mail with the information that is printed in the box marked by the arrow <IMG SRC="image_005.jpg" ALT="" STYLE="height: 14px; width: 105px">&nbsp;(located on the following page) in the subject line.</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt">Requests,
    instructions and other inquiries sent to this e-mail address will NOT be forwarded to your investment advisor. Please make the
    request as instructed above on or before [ ] to facilitate timely delivery.</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&mdash;&mdash; <B>How To Vote</B> &mdash;&mdash;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Please Choose One of the Following Voting Methods</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="5"><IMG SRC="image_006.jpg" ALT="" STYLE="height: 113px; width: 14px"></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Vote In Person:</B> Many stockholder meetings have attendance requirements including, but not limited to, the possession of an attendance ticket issued by
the entity holding the meeting. Please check the meeting materials for any special requirements for meeting attendance. At the meeting,
you will need to request a ballot to vote these shares.</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Vote By Internet:</B> To vote now by Internet, go to <I>www.proxyvote.com</I>. Have the information that is printed in the box marked by the arrow <IMG SRC="image_005.jpg" ALT="" STYLE="height: 14px; width: 105px">&nbsp;available and follow the instructions.</FONT></TD>
    <TD ROWSPAN="3" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: #E5E5E5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Internal Use</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Only</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Vote By Mail:</B> You can vote by mail by requesting a paper copy of the materials, which will include a proxy card.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Voting items</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="7">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Board of Directors recommends you</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>vote FOR the following:</B></P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-top: black 1.5pt solid; border-right: black 1.5pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
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    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; background-color: #E5E5E5; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: #E5E5E5; width: 3%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>1.</B></FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">Election of Directors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Nominees</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">1a. </FONT></TD>
    <TD>Xiaobin Liu</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">1b. </FONT></TD>
    <TD>Yibo Yang</TD>
    <TD><FONT STYLE="font-size: 10pt">1c. </FONT></TD>
    <TD>Naihui Miao</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">1d. </FONT></TD>
    <TD>Dongshan Wang</TD>
    <TD><FONT STYLE="font-size: 10pt">1e. </FONT></TD>
    <TD>Shengwei Ma</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>B</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">1f.</FONT></TD>
    <TD>Shitong Jiang</TD>
    <TD><FONT STYLE="font-size: 10pt">1g.</FONT></TD>
    <TD>Qiang Liu</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>A</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>R</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="10"><B>The Board of Directors recommends you vote FOR proposals 2, 3, 4 and 5.</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>C</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><B>O</B></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>2.</B></FONT></TD>
    <TD COLSPAN="10" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">To ratify the appointment of GGF CPA LTD., independent public accountants, as the auditor of the Company for the fiscal year 2025.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>D</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>E</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>3.</B></TD>
    <TD COLSPAN="10" STYLE="text-align: justify">To approve a reverse split of the Company&rsquo;s common stock, par value $0.0005 (the &ldquo;Common Stock&rdquo;) on the basis of one
(1) share for every two (2) to ten (10) outstanding shares of Common Stock, subject to the discretion of the Board of Directors, so that
two (2) to ten (10) outstanding shares of Common Stock before the reverse stock split shall represent one (1) share of Common Stock after
the reverse stock split.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>4.</B></TD>
    <TD COLSPAN="10" STYLE="text-align: justify">To approve the Gulf Resources Inc. 2025 Stock Incentive Plan.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>5</B>.</TD>
    <TD COLSPAN="10" STYLE="text-align: justify">To conduct an advisory vote to approve the compensation paid to the Company&rsquo;s named executive officers, as disclosed under the caption
Election of Directors &ndash; Executive Compensation.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>NOTE: </B>To transact any other business as may properly be presented at the Annual Meeting or any adjournment thereof.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" ROWSPAN="3" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5; text-align: center"><IMG SRC="image_007.jpg" ALT="" STYLE="height: 56px; width: 63px"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="12">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="12">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="9"><IMG SRC="image_008.jpg" ALT="" STYLE="height: 109px; width: 13px"></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; text-align: center"><IMG SRC="image_009.jpg" ALT="" STYLE="height: 21px; width: 118px"></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD ROWSPAN="6" STYLE="border: black 1pt solid; background-color: #E5E5E5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Broadridge Internal Use Only</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">xxxxxxxxxx</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">xxxxxxxxxx</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Cusip Job #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Envelope #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Sequence #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"># of # Sequence #</P></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="border: black 1pt solid; background-color: #E5E5E5; text-align: center"><FONT STYLE="font-size: 10pt">Reserved for Broadridge Internal Control Information</FONT></TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5; width: 5%">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; background-color: #E5E5E5; width: 5%">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-top: black 1.5pt solid; border-right: black 1.5pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-right: black 1.5pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>NAME</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - COMMON</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - CLASS A</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - CLASS B</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - CLASS C</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - CLASS D</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - CLASS E</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - CLASS F</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; background-color: #E5E5E5; text-indent: 9pt"><FONT STYLE="font-size: 10pt"><B>THE COMPANY NAME INC. - 401K</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt"><B>123,456,789,012.12345</B></FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; background-color: #E5E5E5">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD ROWSPAN="7" STYLE="vertical-align: top"><IMG SRC="image_010.jpg" ALT="" STYLE="height: 109px; width: 15px"></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5; text-align: right"><FONT STYLE="font-size: 10pt">Broadridge Internal Use</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5; text-align: center">THIS SPACE RESERVED FOR SIGNATURES IF APPLICABLE</TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: #E5E5E5">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Only Job #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Envelope #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Sequence #</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"># of # Sequence #</P></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; background-color: silver; width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; background-color: silver">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>GULF RESOURCES,INC.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Level 11, Vegetable Building</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Industrial Park of the East City</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Shouguang City, Shandong Province</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Peoples Republic of China 262700</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="vertical-align: top">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VOTE BY INTERNET - www.proxyvote.com</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Use the Internet to transmit your voting instructions
    and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your
    proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting
    instruction form.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you would like to reduce the costs incurred
    by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically
    via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when
    prompted, indicate that you agree to receive or access proxy materials electronically in future years.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VOTE BY PHONE - 1-800-690-6903</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Use any touch-tone telephone to transmit your
    voting instructions up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when
    you call and then follow the instructions.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VOTE BY MAIL</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mark, sign and date your proxy card and return
    it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717.</P></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; background-color: silver">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border: black 1pt solid; background-color: silver">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Address Line 1</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Address Line 2</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Address Line 3</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Address Line 4</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investor Address Line 5</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>John Sample</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>1234 ANYWHERE STREET</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ANY CITY, ON A1A 1A1</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: silver">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OF</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: silver">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top; background-color: silver">
    <TD COLSPAN="3" STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-top: black 1pt solid; border-left: black 1pt solid"><B>CONTROL # &mdash;&gt; 0000000000000000</B></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: silver">
    <TD COLSPAN="3" STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NAME</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - COMMON</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - CLASS A</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - CLASS B</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - CLASS C</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - CLASS D</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - CLASS E</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - CLASS F</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE COMPANY NAME INC. - 401 K</B></P></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SHARES</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>123,456,789,012.12345</B></P></TD>
    <TD STYLE="border-right: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-left: black 1pt solid; border-bottom: black 1pt solid; background-color: silver"><B>PAGE 1 OF 2</B></TD>
    <TD STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: silver">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 17%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD><B>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</B></TD>
    <TD STYLE="text-align: center">&#9746;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt dashed">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt dashed; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt dashed; text-align: right"><B>KEEP THIS PORTION FOR YOUR RECORDS</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><B>DETACH AND RETURN THIS PORTION ONLY</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: silver 1pt solid; border-left: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-top: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; background-color: silver">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>All</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Withhold</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>All</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For All</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Except</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1.5pt solid; text-align: justify">To withhold authority to vote for any individual nominee(s), mark &ldquo;For All Except&rdquo; and write the number(s) of the nominee(s) on the line below.</TD>
    <TD STYLE="border-left: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="background-color: silver">&nbsp;</TD>
    <TD STYLE="border-top: black 1.5pt solid; border-right: black 1.5pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; background-color: silver">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; border-left: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top"><B>The Board of Directors recommends you vote FOR the following:</B></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-left: black 1pt solid; border-bottom: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; background-color: silver">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid; width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD><B>1. </B></TD>
    <TD>Election of Directors</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><B>Nominees</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2">01 Xiaobin Liu</TD>
    <TD COLSPAN="2">02 Yibo Yang</TD>
    <TD COLSPAN="4">03 Naihui Miao</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap">04 Dongshan Wang</TD>
    <TD COLSPAN="5"></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2">05 Shengwei Ma</TD>
    <TD COLSPAN="2">06 Shitong Jiang</TD>
    <TD COLSPAN="4">07 Qiang Liu</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="11"><B>The Board of Directors recommends you vote FOR proposals 2, 3, 4 and 5.</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><B>For</B></TD>
    <TD STYLE="text-align: center"><B>Against</B></TD>
    <TD STYLE="text-align: center"><B>Abstain</B></TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD><B>2.</B></TD>
    <TD COLSPAN="12">To ratify the appointment of GGF CPA LTD., independent public accountants, as the auditor of the Company for the fiscal year 2025.</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="12">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left"><B>3.</B></TD>
    <TD COLSPAN="12">To approve a reverse split of the Company&rsquo;s common stock, par value $0.0005 (the &ldquo;Common Stock&rdquo;) on the basis of one
(1) share for every two (2) to ten (10) outstanding shares of Common Stock, subject to the discretion of the Board of Directors, so that
two (2) to ten (10) outstanding shares of Common Stock before the reverse stock split shall represent one (1) share of Common Stock after
the reverse stock split;</TD>
    <TD STYLE="text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
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  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD COLSPAN="12">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD><B>4.</B></TD>
    <TD COLSPAN="12">To approve the Gulf Resources Inc. 2025 Stock Incentive Plan.</TD>
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    <TD STYLE="text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="12">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD><B>5.</B></TD>
    <TD COLSPAN="12">To conduct an advisory vote to approve the compensation paid to the Company&rsquo;s named executive officers, as disclosed under the caption
Election of Directors &ndash; Executive Compensation.</TD>
    <TD STYLE="text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="12">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="13"><B>NOTE:</B> To transact any other business as may properly be presented at the Annual Meeting or any adjournment thereof.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="7">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Please sign exactly as your name appears below. When shares are held
    by joint tenants, each should sign. When signing as attorney, executor, administrator, trustee, guardian, corporate officer, or partner,
    please give full title as such. Joint owners should each sign personally.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; background-color: silver">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>Investor Address Line
    1</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>Investor Address Line
    2</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>Investor Address Line
    3</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>Investor Address Line
    4</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>Investor Address Line
    5</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>John Sample</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>1234 ANYWHERE STREET</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: silver"><B>ANY CITY, ON A1A 1A1</B></P></TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: silver">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD STYLE="border-right: silver 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: silver">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: silver 1pt solid; text-align: right">SHARES</TD></TR>
  <TR STYLE="vertical-align: top; background-color: silver">
    <TD STYLE="border-left: silver 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1.5pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-left: black 1pt solid; border-bottom: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: silver 1pt solid; text-align: right">CUSIP #</TD></TR>
  <TR STYLE="vertical-align: top; background-color: silver">
    <TD STYLE="border-left: silver 1pt solid; border-bottom: silver 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: silver 1pt solid">Signature [PLEASE SIGN WITHIN BOX]</TD>
    <TD STYLE="border-bottom: silver 1pt solid; text-align: center">Date</TD>
    <TD STYLE="border-bottom: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: silver 1pt solid">JOB #</TD>
    <TD STYLE="border-bottom: silver 1pt solid">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: silver 1pt solid">Signature (Joint Owners)</TD>
    <TD COLSPAN="2" STYLE="border-bottom: silver 1pt solid; text-align: center">Date</TD>
    <TD COLSPAN="3" STYLE="border-bottom: silver 1pt solid; border-right: silver 1pt solid; text-align: right">SEQUENCE #</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 63 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>The Annual Meeting of the
Stockholders of Gulf Resources, Inc., a Nevada corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(&quot;Company&quot;), will be held on September 4, 2025, at 10:00 a.m. (local
time), at the Company's</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>headquarters located at</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Level 11, Vegetable Building,
Industrial Park of the East City, Shouguang City, Shandong</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Province, 262700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 137.3pt 0pt 137.15pt; text-align: center"><B>People's Republic of China.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.2pt 0pt 13.5pt; text-align: center"><B>Important Notice Regarding the
Availability of Proxy Materials for the Annual Meeting:</B> The Notice &amp; Proxy Statement, 10-K, as amended, is/are available at www.proxyvote.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1.5pt dashed">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 127pt 0pt 127.05pt; text-align: center"><B>THIS PROXY IS SOLICITED ON
BEHALF OF THE BOARD OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 126.95pt 0pt 127.05pt; text-align: center"><B>PROXY FOR THE ANNUAL MEETING
OF STOCKHOLDERS OF GULF RESOURCES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Gulf Resources, Inc.,</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>Annual
Meeting of Stockholders</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>September 4, 2025 at 10:00
AM Local Time</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>This proxy is solicited by the Board Of Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.4pt 0pt 0.5pt; text-align: center; text-indent: -0.05pt">The stockholders
hereby appoints Ming Yang and Xiaobin Liu, and each of them, each with full power of substitution, hereby are authorized to vote as specified
on the reverse side or, with respect to any matter not set forth on the reverse side, as a majority of those or their substitutes present
and acting at the meeting shall determine, all of the shares of capital stock of Gulf Resources, Inc. that the undersigned would be entitled
to vote, if personally present, at the 2025 Annual Meeting of Stockholders and any adjournment thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.5pt 0pt 5.55pt; text-align: center"><B>Unless otherwise specified, this
proxy will be voted FOR Proposals 1, 2, 3, 4, 5. The Board of Directors recommends a vote FOR Proposals 1, 2, 3, 4, 5.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 127pt; text-align: center"><B>Continued and to be signed on reverse side</B></P>

</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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