On May 26, 2023, BAIC BluePark New Energy Technology Co., Ltd. closed the transaction. The company announced a private placement to issue 1,286,193,039 A shares at CNY4.70 per share for gross proceeds of CNY6,045,107,283.30. The transaction included the participation from existing investors BAIC Motor Corporation Limited subscribe 612,528,276 shares for CNY 2,878,882,897.20 issued to a lock up period of 36 months, Bohai Automotive Systems CO., LTD subscribe 51,287,595 shares for CNY 241,051,696.50 issued to a lock up period of 6 months, Beijing Electronics Holding Co.,Ltd subscribe 212,765,957 shares for CNY 999,999,997.90 issued to a lock up period of 6 months, new investors Beijing Jingguosheng Investment Fund subscribe 50,000,000 shrares for CNY 235,000,000.00 issued to a lock up period of 6 months, a fund managed by Beijing Industrial Developing Investment Management Co., Ltd. Beijing Yitang Tongzhou Equity Investment Center subscribe 106,382,978 shares for CNY 499,999,996.60 issued to a lock up period of 6 months, a fund managed by Beijing E-Town International Industry Investment Management Co., Ltd. Guangdong Huahui Chuangfu Investment Management Co., Ltd.-Huahui Zunxiang No.

3 Private Securities Investment Fund Subscribe 21,276,595 shares for CNY 99,999,996.50 issued to a lock up period of 6 months, Ningbo Meishan Free Trade Port Zone Wending Investment Co., Ltd. Subscribe 42,553,191 shares for CNY 199,999,997.70 issued to a lock up period of 6 months, Beijing Jingneng Energy Technology M&A Investment Fund Subscribe 82,978,723 shares for CNY 389,999,998.10 issued to a lock up period of 6 months, a fund managed by Beijing Jingneng Tongxin Investment Management Co., Ltd., Guotai Junan Asset Management (Asia) Co., Ltd.-Guotai Junan International Greater China Account No. 1 Subscribe 25,787,234 shares for CNY 121,199,999.80 issued to a lock up period of 6 months, Citic Securities Co., Ltd. Subscribe 32,212,765 shares for CNY 151,399,995.50 issued to a lock up period of 6 months, Nuode Asset Management Co., Ltd Subscribe 30,212,765 shares for CNY 141,999,995.50 issued to a lock up period of 6 months, and Beijing Jingguo Chuangyoushi Industrial Fund Subscribe 18,206,960 shares for CNY 85,572,712.00 issued to a lock up period of 6 months. Post to the closing of transaction, BAIC Motor Corporation Limited owns 10.99% stake, Beijing Electronics Holding Co.,Ltd owns 4.86% stake; Beijing Yitang Tongzhou Equity Investment Center (Limited Partnership) owns 1.91% stake; Beijing Jingneng Energy Technology M&A Investment Fund (Limited Partnership) owns 1.49% stake.