ADAMA Ltd.

    Pre-approval of the Independent Directors on an
  External Guarantee in a Related Party Transaction

In accordance with the Company Law of the People’s Republic of China, Guidance on
Establishing the Independent Director System in Listed Companies, and other laws,
regulations and normative documents, as well as the Articles of Association and
Independent Director System, we, as the independent directors of ADAMA Ltd.
(hereinafter referred to as “Company”), had a prior review on the external guarantee
in a related party transaction. We give our opinions from the standpoint of
independent judgment:




1. The guarantee provided by Jiangsu Anpon Electrochemical Co., Ltd. (“Anpon”) to
  Xuyi Branch of Industrial and Commercial Bank of China Limited is the
  continuation of the original guarantee provided by Anpon before the close of the
  transfer of equity interests in Anpon.


2. We pre-approve Anpon continue performing its obligations under the above
   guarantee. We agree to submit the above guarantee matter to the Board of
   Directors for approval.




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 (The signature page of Pre-approval of the Independent Directors on an External
Guarantee in a Related Party Transaction)




Independent Director Signature:




__________________                              ___________________

    Tang Yunwei                                       Xi Zhen




                                                                March 29, 2019




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