Deutsche Bank Appointed as Depositary Bank for the Sponsored American Depositary Receipt Program of LIZHI INC.

Deutsche Bank announced today its appointment as depositary bank for the NASDAQ-listed American Depositary Receipt program of LIZHI INC. (the “Company” or “LIZHI”).

LIZHI INC. (NASDAQ: LIZI) operates a leading interactive audio entertainment platform for an online user generated content audio community. The Company is headquartered in Guangzhou, the People’s Republic of China.*

“The successful appointment of Deutsche Bank as Depositary Bank for LIZHI’s NASDAQ-listed American Depositary Receipts program is a further example of our franchise strength in the Asia-Pacific Region," said Daniel Clark, Global Head of Depositary Receipts at Deutsche Bank. "We look forward to providing our dedicated resources and expertise to drive the program’s future success.”

In addition to specializing in administering cross-border equity structures such as New York Shares and American and Global Depositary Receipts, Deutsche Bank provides corporates, financial institutions, hedge funds and supranational agencies around the world with trustee, agency, escrow and related services. Deutsche Bank offers a very broad range of services for diverse products, from complex securitizations and project finance to syndicated loans, debt exchanges and restructurings.

* This information was provided by Lizhi Inc. (January 2020)

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

The Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Conduct Authority. This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright© January2020 Deutsche Bank AG. All rights reserved.

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