Angel Yeast Co.Ltd(600298) : asset appraisal report of all equity value project of Yichang Xiwang Food Co., Ltd. involved in the proposed transfer

Angel Yeast Co.Ltd(600298) : Angel Yeast Co.Ltd(600298) the assets appraisal report of the project involving the value of all shareholders’ equity of Yichang Xiwang Food Co., Ltd. Angel Yeast Co.Ltd(600298) zhongruishilian assets appraisal group Co., Ltd. accepts the entrustment of your company, abides by the provisions of laws, administrative regulations and asset appraisal standards, adheres to the principles of independence, objectivity and impartiality, performs appropriate asset appraisal procedures and adopts recognized appraisal methods, The market value of all shareholders’ equity of Yichang Xiwang Food Co., Ltd. on the benchmark date was evaluated. The summary of the assets appraisal report is as follows: the purpose of the appraisal is to provide value reference for Angel Yeast Co.Ltd(600298) plans to transfer the equity of Yichang Xiwang Food Co., Ltd. Appraisal object: the value of all shareholders’ equity of Yichang Xiwang Food Co., Ltd. Appraisal scope: all assets and liabilities of Yichang Xiwang Food Co., Ltd., including current assets Non current assets (fixed assets, intangible assets, right of use assets, deferred income tax assets, other non current assets) current liabilities and non current liabilities (lease liabilities, deferred income) appraisal base date: December 31, 2021 value type: market value appraisal method: asset based method appraisal conclusion: the appraisal result of asset based method is adopted as the appraisal conclusion in this asset appraisal report. The specific evaluation conclusions are as follows:

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