LIZHI Collaborates with Koliliko to Explore Diversified Online Entertainment Scenarios

LIZHI INC. (“LIZHI” or the “Company” or “We”) (NASDAQ: LIZI), an audio-based social and entertainment platform, today announced that it has collaborated with Koliliko, a Chinese designer toy brand, to jointly explore new usage scenarios for online interactive entertainment.

In partnership with Koliliko, LIZHI launched the online mystery box across multiple channels on its flagship platform LIZHI App, a leading UGC audio community and interactive audio entertainment platform in China. LIZHI has integrated Koliliko’s mystery box IP, ManMan, into an array of interactive functions in the audio entertainment section of the LIZHI App, creating a LIZHI-exclusive mystery box line. With this new interactive feature, LIZHI aims to provide users with a diversified online entertainment experience, which is especially popular among the LIZHI App’s young-generation users.

The collaboration with Koliliko marks LIZHI’s first foray into the field of value-added online mystery box IP content. By utilizing the LIZHI App as a pilot platform to explore diversified online interactive scenarios, the Company also expects to further promote business model innovation and expand the commercialization potential of high-quality content.

Meanwhile, LIZHI remains focused on improving user experience and consistently enriching and optimizing product features, with the ultimate goal of bringing users innovative, exciting ways to interact while satisfying their online entertainment demands. With these efforts, LIZHI also expects to further increase user engagement and enhance community vibrancy. Going forward, LIZHI hopes to collaborate with additional brand IPs to further diversify its usage scenarios for online interactive entertainment, leveraging the strengths of both parties to maximize mutual benefits.

About LIZHI INC.

LIZHI INC. has created a comprehensive audio-based social ecosystem with a global presence. The Company aims to cater to users’ interests in audio entertainment and social networking through its product portfolios. LIZHI INC. envisions an audio ecosystem where everyone can be connected and interact through voices. LIZHI INC. has been listed on Nasdaq since January 2020.

For more information, please visit: http://ir.lizhi.fm.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:LIZHI INC.IR DepartmentTel: [phone]E-mail: [e-mail]

The Piacente Group, Inc.Jenny CaiTel: [phone]E-mail: [e-mail]

In the United States:The Piacente Group, Inc.Brandi PiacenteTel: [phone]E-mail: [e-mail]