China Yuchai International : Evercore ISI Annual Industrial Conference Presentation

China Yuchai International Limited

China Yuchai International Ltd.

[NYSE: CYD]

16th Annual Evercore ISI

Industrial Conference

March 2024

China Yuchai International Limited

This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "confident that", "continue to", "predict", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements.

These forward-looking statements including, but not limited to, statements concerning the Company's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in China including those discussed in the Company's Form 20-Fs under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. Among others, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in China and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. All forward-looking statements are applicable only as of the date it is made, and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information.

The financial information presented herein for the year ended December 31, 2023, is unaudited.

China Yuchai International Ltd.

Truck and Bus engines applications

Off-road and Agriculture applications

Marine and Power

Generator applications

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Company Structure

Hong Leong Asia Ltd.

(Listed on Singapore SGX)

China Yuchai

International Limited

(Listed on NYSE CYD)

Engine Business:	Hospitality Business:
Guangxi Yuchai	HL Global Enterprises Ltd
Machinery Co. Ltd (GYMCL)	(Listed on Singapore SGX)

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Corporate Summary

• GYMCL was founded in 1951
• One of the top commercial vehicle engine suppliers in annual unit sales as ranked by the
  China Association of Automobile Manufacturers ("CAAM")
• Leading manufacturer of a wide array of light-, medium- and heavy-duty; and high horsepower engines including diesel, gas and hybrid engines for multiple markets
• Growing product portfolio for the EV and Fuel Cell markets
• Operates the largest single facility to produce commercial automotive and industrial engines in China
• Engine production facilities are based in both GYMCL and its subsidiaries, total capacity of 600,000 units per annum
• World-classR&D program with large patent portfolio
• Over 3,300 domestic services stations throughout China

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Subsidiaries, Joint Ventures and Alliances

• Y&C Engine Co., Ltd. ("Y&C")is a 45%-owned JV with Jirui United Heavy Industry Co., Ltd., specializing in heavy-duty vehicle engines.
• MTU Yuchai Power Company Limited ("MTU Yuchai")is a 50-50JV of Yuchai and MTU
  Friedrichshafen GmbH ("MTU"), a subsidiary of Rolls-Royce Power Systems, and sold 500+ MTU series 4000 diesel engines in China in 2023.
• Guangxi Purem Yuchai Automotive Technology Co., Ltd. ("Purem Yuchai";formerly known as Eberspaecher Yuchai Exhaust Technology Co., Ltd.) is a 49%-ownedJV with Purem International GmbH to produce and market new exhaust emission control systems for trucks, buses, farming equipment and industrial machinery. In 2023, Purem Yuchai produced approximately 34,500 after-treatmentunits.
• Yuchai Xin-LanNew Energy Power Technology Co., Ltd. ("Yuchai Xin-Lan")is an 87.7%- owned subsidiary and conducts R&D to create new production capacity for new energy technologies, including fuel cell systems, range extenders, hybrid power and electric drive systems. In 2023 Yuchai Xin-Lanproduced new energy powered systems for truck, bus and off- road machinery applications.
• Yuchai CYNLand (Jiangsu) Hyentech Co. Ltd. A new subsidiary under "Yuchai Xin-Lan"to design and manufacture fuel cell systems and hydrogen generating equipment.
• Yuchai Xingshunda New Energy Technology Co., Ltd. ("Yuchai Xingshunda")is a 65%- owned JV with Beijing Xing Shun Da Bus Co., Ltd. for development, manufacture and sale of fuel cell powertrain systems and fuel cell power components for the Beijing,Tianjin and Hebei markets.

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Subsidiaries, Joint Ventures and Alliances

• Suzhou Yuxing Automobile Technology Co., Ltd.is a 30%-owned JV with certain engine service firms to provide vehicle monitoring, vehicle and engine maintenance and repairs solutions.
• Guangxi Xing Yun Cloud Technology Co. Ltd. ("Xing Yun Cloud")a new subsidiary to develop proprietary operating systems for data analytics for smart and connected solutions for both on- and off-roadvehicles and machineries. Xing Yun Cloud also manages IT operations maintenance, and develop new digital projects, and intelligent networks and processes for GYMCL group of companies.
• Yuchai Power System (Thailand) Co., Ltd. A new subsidiary incorporated in 2023 to assemble, test and sell power train systems. Also to carry out after-sales services for engine power products (such as maintenance and technical services).

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Vehicle Engine OEMs

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Off Road /Marine Engine OEMs

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2023 Market Overview

Market Statistics

China's economy reported a 5.2% GDP growth for 2023 up from 3.0% in 2022, but real estate activities struggled with new construction down by 20.4% and property developers becoming impaired, business and consumer confidence weakened as deflationary pressures rose, and exports declined by 4.6%.

According to CAAM, commercial vehicle unit sales (diesel & others):

1. CV industry increased 17.2% YoY (excluding EV)
2. Truck market - YoY change for HD (+35.1%), MD (+11.7%) and LD (+3.1%) segments
3. Bus market - YoY change for HD (+95.0%), MD (+49.6%) and LD (+22.1%) segments

Market review - On road

1. Higher HD, MD and LD truck unit sales, with HD up 35.1% YoY to approximately 881,000 units (diesel and others)
2. The HD, MD and LD bus segments were significantly higher YoY

Market review - Off road

1. Agricultural machinery sales decreased partially due to reduced government incentives which affected purchases of new equipment
2. Demand for industrial applications declined due to reduced market demand in some segments and the suspension of property development projects
3. Marine and Genset segments increased primarily due to higher demand for power generation including to accommodate growth in data centers

(Note: 2022 numbers reflected post Covid-19 recovery)

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