Sinotruk Hong Kong : UPDATE ON DISCLOSEABLE TRANSACTION DEEMED DISPOSAL OF EQUITY INTEREST IN JI'NAN TRUCK

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SINOTRUK (HONG KONG) LIMITED ʕ਷ࠠӛ ( ࠰ಥ ) Ϟࠢʮ̡

(incorporated in Hong Kong with limited liability)

(Stock Code: 03808)

UPDATE ON DISCLOSEABLE TRANSACTION

DEEMED DISPOSAL OF EQUITY INTEREST IN JI'NAN TRUCK

Reference is made to the announcement of Sinotruk (Hong Kong) Limited (the "Company") on 29 October 2020 (the "Announcement") in relation to the Proposed Placement of Ji'nan Truck Shares which, if materialised, will constitute a deemed disposal of the Company's equity interest in Ji'nan Truck and a discloseable transaction of the Company. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context requires otherwise.

The Board has been notified by Ji'nan Truck that all conditions precedent to the Proposed Placement have been satisfied , the Ji'nan Truck Shares issued pursuant to the Proposed Placement have been registered with the Shenzhen Branch of the China Securities Depository and Clearing Co., Ltd. on 9 March 2021, and will be listed on the Shenzhen Stock Exchange on 15 March 2021 (subject to the relevant lock-up arrangements). A total of 168,111,600 Ji'nan Truck Shares have been issued and placed to 23 Target Subscribers at the Subscription Price of RMB29.82 per Ji'nan Truck Share. The total amount of the proceeds of the Proposed Placement is RMB5,013,087,912.00 (approximately HK$5,988,136,000) and the net proceeds (after deducting the relevant fees and expenses) is RMB5,001,383,278.41 (approximately HK$5,974,155,000).

Based on the results of the Proposed Placement, the Company's equity interest in Ji'nan Truck decreased by approximately 12.78% from approximately 63.78% to 51%. Therefore, the Proposed Placement constitutes a deemed disposal of the Company's equity interest in Ji'nan Truck pursuant to Rule 14.29 of the Listing Rules. Ji'nan Truck will continue to be accounted for as a subsidiary of the Company and its financial results will continue to be consolidated into the Company's consolidated financial statements.

To the best of the Directors' knowledge, information and belief, having made all reasonable enquiry, each of the Target Subscribers and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons.

For illustration purpose, amounts in RMB in this announcement have been translated to HK$ at RMB0.83717 = HK$1.00.

By order of the Board Sinotruk (Hong Kong) Limited

Cai Dong

Chairman of the Board

Ji'nan, the PRC, 11 March 2021

As at the date of this announcement, the board of the Company consists of seven executive directors of the Company including Mr. Cai Dong, Mr. Liu Zhengtao, Mr. Liu Wei, Mr. Liu Peimin, Mr. Dai Lixin, Mr. Richard von Braunschweig and Ms. Qu Hongkun; four non-executive directors of the Company including Mr. Jiang Kui, Ms. Annette Danielski, Mr. Matthias Gründler and Dr. h.c. Andreas Tostmann; and six independent non-executive directors of the Company including Dr. Lin Zhijun, Mr. Yang Weicheng, Dr. Wang Dengfeng, Mr. Zhao Hang, Mr. Liang Qing and Mr. Lyu Shousheng.