Beijing King & Wood Law Firm
KING&WOOD
18F, East Tower, World Financial Center
1 Dongsanhuan Zhonglu, Chaoyang
District Beijing, 100020, PRC
T +86 10 5878 5588
F +86 10 5878 5566
Regarding STO Express Co., Ltd.'s Issuance of Convertible Bonds to Undefined Targets
Supplementary Legal Opinion I
To: STO Express Co., Ltd.
Beijing King & Wood Law Firm (hereinafter referred to as "the Firm") has been retained by STO Express Co., Ltd. (hereinafter referred to as "STO Express/Company/Issuer") to serve as the special legal advisor for the Issuer's current issuance of convertible bonds to undefined targets (hereinafter referred to as "the Current Issuance").
The Firm, 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 Issuances by Listed Companies" (hereinafter referred to as the "Registration Measures"), the "Administrative Measures for Law Firms Engaging in Securities Legal Business," the "Administrative Measures for Convertible Bonds," the "Practice Rules for Securities Legal Business of Law Firms (Trial)," and the "Information Disclosure Compilation Rules for Public Offerings by Securities Companies No. 12 — Legal Opinions and Lawyers' Work Reports on Public Offerings of Securities," and other currently effective laws, administrative regulations, departmental rules, and normative documents in China (within the territory of the People's Republic of China, which for the purpose of this Supplementary Legal Opinion excludes the Hong Kong Special Administrative Region, the Macao Special Administrative Region, and Taiwan Province), as well as relevant regulations from the China Securities Regulatory Commission (hereinafter referred to as "CSRC") and the Shenzhen Stock Exchange (hereinafter referred to as "SZSE"), and in accordance with the business standards, ethical norms, and diligence and responsibility spirit generally recognized in the legal profession, has issued the "Beijing King & Wood Law Firm's Legal Opinion on the Issuance of Convertible Bonds by STO Express Co., Ltd. to Undefined Targets" (hereinafter referred to as the "Legal Opinion") and the "Beijing King & Wood Law Firm's Work Report on the Issuance of Convertible Bonds by STO Express Co., Ltd. to Undefined Targets" (hereinafter referred to as the "Work Report") on May 15, 2026.
The Firm has, based on the "Inquiry Letter Regarding the Application for Issuance of Convertible Bonds by STO Express Co., Ltd. to Undefined Targets" (Review Letter [2026] No. 120035) issued by the SZSE Listing Review Center on June 17, 2026 (hereinafter referred to as the "Inquiry Letter"), issued this Supplementary Legal Opinion.
The premises and assumptions under which the Firm expressed legal opinions in the "Legal Opinion" and the "Work Report" are equally applicable to this Supplementary Legal Opinion. Unless otherwise specified, the definitions used in this Supplementary Legal Opinion are the same as those in the "Legal Opinion" and the "Work Report."
This Supplementary Legal Opinion is for the sole purpose of the Issuer's current issuance and shall not be used for any other purpose. King & Wood agrees to submit this Supplementary Legal Opinion as a necessary legal document for the Issuer's current issuance application, to be filed along with other application materials, and is willing to bear the corresponding legal responsibilities.
King & Wood and the handling lawyers have, in accordance with the aforementioned laws, administrative regulations, rules, normative documents, and relevant regulations of the CSRC, as well as facts that have occurred or existed prior to the issuance date of this Supplementary Legal Opinion, strictly performed their statutory duties, adhered to the principles of diligence, responsibility, and good faith, conducted thorough verification and investigation of the matters related to the Issuer's current issuance, and ensured that the facts determined in this Supplementary Legal Opinion are true, accurate, and complete, and that the conclusive opinions expressed on the current issuance are legal and accurate, free from any false records, misleading statements, or material omissions, and bear corresponding legal responsibilities.