Lotus Technology Inc. announces that it has entered into a share subscription agreement with ECARX Holdings Inc. to issue 16,788,321 newly issued ordinary shares at a price of $1.37 per share for gross proceeds of $22,999,999.77 on December 23, 2025. The private placement is subject to customary closing conditions and is expected to close within 30 days following the execution of the Subscription Agreement. The ordinary shares to be purchased by ECARX in this private placement will be subject to a six-month lock-up period with certain customary exceptions.