Underwriter's Letter for Jushen Logistics Group Co., Ltd. on Issuing Convertible Bonds to Unspecified Objects

Underwriter's Letter

Guolian Minsheng Securities Co., Ltd.
Regarding Jushen Logistics Group Co., Ltd.'s issuance of convertible bonds to unspecified objects
Shanghai Free Trade Zone, May 2026

Declaration

This underwriter, in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for the Registration of Securities Issuance by Listed Companies, and the Management Measures for Underwriting and Sponsoring Securities Issuance, as well as relevant regulations from the China Securities Regulatory Commission and the Shenzhen Stock Exchange, hereby issues this underwriting letter with honesty, diligence, and responsibility, ensuring the authenticity, accuracy, and completeness of the documents provided. Unless otherwise specified in the context, the definitions in this underwriting letter are consistent with those in the prospectus for Jushen Logistics Group Co., Ltd.'s issuance of convertible bonds to unspecified objects.

Table of Contents

1. Basic Information on the Securities Issuance
   1.1 Underwriter Project Personnel
   1.2 Issuer Basic Information
   1.3 Relationships and Major Business Transactions between the Underwriter and the Issuer
   1.4 Internal Review Procedures and Opinions of the Underwriter
   1.5 Verification of Paid Engagements with Third Parties
2. Commitments of the Underwriter
3. Recommendations on the Securities Issuance
   3.1 Underwriter's Conclusion on the Securities Issuance
   3.2 Approval Procedures for the Issuance
   3.3 Compliance of the Issuance with Relevant Regulations
   3.4 Major Risks Faced by the Issuer
   3.5 Evaluation of the Issuer's Development Prospects
4. Appendix

1. Basic Information on the Securities Issuance

1.1 Underwriter Project Personnel

1. Underwriter Name
   Guolian Minsheng Securities Co., Ltd.

2. Designated Underwriter Representatives
   Guolian Minsheng Securities has designated Liu Yuting and Huang Ying as the underwriter representatives for this issuance of convertible bonds to unspecified objects. The main professional experience of the underwriter representatives is as follows:

   • Ms. Liu Yuting: Has led or participated in projects including major asset restructuring for Xinjingang (300629), issuance of shares to specific objects for Daoshi Technology (300409), major asset divestiture for Xinjingang (300629), IPO project for Jushen (001202), issuance of convertible bonds to unspecified objects for Daoshi Technology (300409), and issuance of shares to specific objects for JiuLian Technology (688609). She has maintained a good professional record in underwriting business.
   • Mr. Huang Ying: Has led or participated in projects including issuance of shares to specific objects for Daoshi Technology (300409), major asset divestiture for Xinjingang (300629), IPO project for Jushen (001202), issuance of convertible bonds to unspecified objects for Daoshi Technology (300409), and issuance of shares to specific objects for JiuLian Technology (688609). He has also maintained a good professional record in underwriting business.

3. Project Coordinator and Team Members
   The original project coordinator, Mr. Li Jiamei, has left the company and will no longer serve as the project coordinator for this issuance. Guolian Minsheng Securities has designated Mr. Du Kaien as the project coordinator for this issuance. His main professional experience includes leading or participating in projects such as Ningbo Jingda (603088) for asset acquisition and cash payment, and JiuLian Technology (688609) for issuance of shares to specific objects. He has maintained a good professional record in underwriting business.
   Other team members for this issuance include Liu Lu, He Zijie, and Wang Lei.

1.2 Issuer Basic Information