CIMC Vehicles : PROPOSED EXTENSION OF THE VALIDITY PERIOD OF THE A SHARE OFFERING PLAN AND THE AUTHORIZATION CONCERNING THE A SHARE OFFERING

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CIMC Vehicles (Group) Co., Ltd.

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(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1839)

PROPOSED EXTENSION OF THE VALIDITY PERIOD

OF THE A SHARE OFFERING PLAN AND THE AUTHORIZATION CONCERNING THE A SHARE OFFERING

Reference is made to the announcements dated 6 May 2020, 15 May 2020 and 22 June 2020 (the "Announcements") and the supplemental circular dated 3 June 2020 (the "Supplemental Circular") of CIMC Vehicles (Group) Co., Ltd. (the "Company") in relation to, among others, the plan of proposed A Share Offering and listing on the ChiNext Market of Shenzhen Stock Exchange (the "A Share Offering Plan") and grant of authorization by the general meeting for the Board to handle matters in relation to the A Share Offering and listing on the ChiNext Market of Shenzhen Stock Exchange (the "Authorization concerning the A Share Offering"). Unless otherwise defined, the terms used in this announcement shall have the same meanings as those defined in the Announcements and the Supplemental Circular.

Proposed Extension of the validity period of the A Share Offering Plan and the Authorization concerning the A Share Offering

The resolutions of the A Share Offering Plan and the Authorization concerning the A Share Offering were considered and approved at the 2019 Annual General Meeting, the first Domestic Shareholders' Class Meeting of 2020 and the First H Shareholders' Class Meeting of 2020 convened on 22 June 2020 by the Company. The validity period of the A Share Offering Plan and the Authorization concerning the A Share Offering was 12 months from the date on which they were considered and approved at the 2019 Annual General Meeting, the First Domestic Shareholders' Class Meeting of 2020 and the H Shareholders' Class Meeting of 2020. Given that the A Share Offering is still in progress and the validity period of the A Share Offering Plan and the Authorization concerning A Share Offering will be expired on 21 June 2021, the Board proposes to extend the validity period of the A Share Offering Plan and the Authorization concerning the A Share Offering for 12 months from the next day immediately after the expiration of validity period (i.e., ended on 21 June 2022) for the purposes of ensuring the on-going proceeding of the A Share Offering.

The above resolutions in relation to the proposed extension of the validity period of the A Share Offering Plan and the Authorization concerning the A Share Offering (including the Special Mandate) will be submitted by way of special resolutions at the general meeting, the domestic shares class meeting and the H shares class meeting of the Company for consideration and approval. A circular containing, among others, the details of above resolutions will be despatched to the Shareholders in due course.

The Board will grant the authorization to Mr. Li Guiping, the executive Director, chief executive officer and president of the Company, and other person further delegated by Mr. Li Guiping to handle matters in relation to the A Share Offering with the same scope and validity period as the Authorization concerning the A Share Offering once the above resolutions in relation to the proposed extension of the validity period of the A Share Offering Plan and the Authorization concerning the A Share Offering take effect.

Save for the proposed extension of validity period of the A Share Offering Plan and the Authorization concerning the A Share Offering as disclosed in this announcement, all other contents in respect of the A Share Offering Plan and the Authorization concerning the A Share Offering as set out in the Supplemental Circular will remain unchanged.

Considering that the A Share Offering is pending for approval of registration by the CSRC and subject to certain conditions precedent, it may or may not proceed. The Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

CIMC Vehicles (Group) Co., Ltd.

Li Guiping

Executive Director

Hong Kong, 25 March 2021

• As of the date of this announcement, the Board comprises nine members, being Mr. Mai Boliang**,

• Mr. Li Guiping*, Ms. Zeng Beihua**, Mr. Wang Yu**, Mr. Huang Haicheng**, Mr. Chen Bo**,

• Mr. Feng Jinhua***, Mr. Fan Zhaoping*** and Mr. Cheng Hok Kai Frederick***.

• * Executive Director

• ** Non-executive Directors

• *** Independent non-executive Directors