CRRC : ANNOUNCEMENT LATEST UPDATE ON THE PROPOSED ISSUE OF A SHARES AND LISTING ON THE SCIENCE AND TECHNOLOGY INNOVATION BOARD OF CRRC TIMES ELECTRIC, AN INDIRECT NON-WHOLLY OWNED SUBSIDIARY

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中國中車股份有限公司

CRRC CORPORATION LIMITED

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

(Stock Code: 1766)

ANNOUNCEMENT

LATEST UPDATE ON THE PROPOSED ISSUE OF A SHARES AND LISTING ON THE SCIENCE AND TECHNOLOGY INNOVATION BOARD OF CRRC TIMES ELECTRIC, AN INDIRECT NON-WHOLLY OWNED SUBSIDIARY

References are made to the announcements of CRRC Corporation Limited (the " Company ") dated 30 September 2020 and 30 December 2020 (the "Announcements"), in relation to the proposed issue of A shares and listing on the Science and Technology Innovation Board of Zhuzhou CRRC Times Electric Co., Ltd. ("CRRC Times Electric"), an indirect non-wholly owned subsidiary. Unless otherwise defined, the terms used herein shall have the same meaning as those defined in the Announcements.

According to the "Announcement of the Results of the 30th Review Meeting of the Listing Committee of the Science and Technology Innovation Board in 2021" published by the Shanghai Stock Exchange on 12 May 2021, the results of the review were: it has met the issue conditions, listing conditions and information disclosure requirements. The application for the A Shares Issue and Listing of CRRC Times Electric has been approved by the Listing Committee of the Science and Technology Innovation Board of the Shanghai Stock Exchange.

The Company will make further announcement(s) in respect of the A Shares Issue and Listing of CRRC Times Electric in due course or in accordance with the applicable requirements of the Hong Kong Listing Rules.

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Shareholders of the Company and potential investors are advised to note that the A Shares Issue and Listing of CRRC Times Electric is conditional upon, among other things, the approval of the CSRC and is subject to the market conditions. Therefore, Shareholders of the Company and potential investors should be aware that there is no assurance that the A Shares Issue and Listing of CRRC Times Electric will take place or as to when it may take place. Shareholders of the Company and potential investors should therefore exercise caution when dealing in the securities of the Company. Any person who is in doubt about his/her position or any action to be taken is recommended to consult his/her own professional advisers.

By order of the Board

CRRC Corporation Limited

Sun Yongcai

Chairman

Beijing, the PRC

12 May 2021

As at the date of this announcement, the executive Directors of the Company are Mr. Sun Yongcai and Mr. Lou Qiliang; and the independent non-executive Directors are Mr. Li Guo'an, Mr. Sun Patrick, Mr. Shi Jianzhong and Mr. Zhu Yuanchao.

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