ECARX Co., Ltd. announced that it has entered into the subscription agreement with Geely Automobile Holdings Limited to issue 4,321,521 series B preferred shares at a price of $11.57 per share for gross proceeds of approximately $50,000,000 on September 7, 2021. Upon completion, Geely Automobile Holdings Limited will acquire approximately 1.51% of the company. If all of the conditions set out in the conditions precedent above have not been fulfilled or waived within 30 days from the date of the subscription agreement, the company may terminate the subscription agreement by written notice to other parties to the subscription agreement.