LIZHI Caps Off 2020 with Two New Awards in Recognition of its Achievements

GUANGZHOU,China,Dec. 28,2020 -- LIZHI INC. ("LIZHI" or "the Company") (NASDAQ: LIZI),a leading online UGC audio community and interactive audio entertainment platform in China,was recently named the Most Influential App of the Year at the Global Marketing Cicada Awards ("GMCA") and won the NextWorld 2020 Top Apps & Brands Awards in China,marking another remarkable year for LIZHI.

LIZHI won the Most Influential App of the Year in recognition of its industry-leading audio entertainment ecosystem,which the Company has been developing consistently since the launch of the LIZHI App in 2013. The GMCA was held by the data analysis platform Chandashi on December 18,2020 in Guangzhou to honor,among others,outstanding players based in PRC in the mobile apps and live streaming e-commerce space,in appreciation of the continuous efforts toward innovation that has helped propel the development of the industry.

LIZHI also won the NextWorld 2020 Top Apps & Brands Awards at the 5th NextWorld Summit and Annual Top Apps & Brands Awards Ceremony,hosted by Chinese mobile application data analysis platform Qimai Data on December 22,2020 in Beijing. The summit,which brought together leading entrepreneurs,senior executives,media,and other guests,recognized brands and products that lead innovation and pursue excellence in the internet industry. LIZHI was acknowledged for its innovative audio ecosystem and interaction model. With a diverse and complete platform that encompasses podcasts and entertainment products,LIZHI offers podcast content across 27 major categories and 107 sub-categories,such as content related to life & relationship,parenting,language learning,music radio,and talk shows.

"LIZHI is honored to have received these two awards,which is a great recognition of our efforts and achievements,and an encouragement to us in this challenging year," said Marco Lai,the founder and CEO of LIZHI. "We believe we have made substantive progress in diversifying our business models and expanding online audio use scenarios this year. We plan to continue exploring exciting new ways to forge a dynamic and interactive audio-centric user community,which may then help us create a more diverse and vibrant audio experience in the future."

This year,LIZHI has also entered into a collaboration relationship with some of the major automobile players in China including GAC AION New Energy Automobile,GAC Motor,and Xpeng Motors as previously announced.

About LIZHI INC.

LIZHI INC. is a leading online UGC audio community and interactive audio entertainment platform in China,with a mission to enable everyone to showcase vocal talent. The Company is aiming to bring people closer together through voices.

Since the launch of its LIZHI App in 2013,LIZHI has cultivated a vibrant and growing community encouraging audio content creation and sharing. Now LIZHI is an audio wonderland offering a wide range of podcasts and audio entertainment products and features,including audio live streaming and various interactive audio social products,empowering users to enjoy an immersive and diversified entertainment experience through audio. LIZHI envisions a global audio community – a place where everyone can create,share and connect with each other through voices and across cultures.

Safe Harbor Statement

This press release may contain 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 Department

Tel: +86 (20) 3866-4265

E-mail: ir@lizhi.fm

The Piacente Group,Inc.

Jenny Cai

Tel: +86 (10) 6508-0677

E-mail: Lizhi@tpg-ir.com

In the United States:

The Piacente Group,Inc.

Brandi Piacente

Tel: +1-212-481-2050

E-mail: Lizhi@tpg-ir.com

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