Geely Automobile : EXERCISE OF CALL OPTION

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.

GEELY AUTOMOBILE HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 175)

EXERCISE OF CALL OPTION

Reference is made to the announcement of Geely Automobile Holdings Limited (the "Company") dated 16 December 2013 (the "Announcement") in relation to, among others, a call option (the "Call Option") associated with the agreement entered into between the Company and BNP Paribas Personal Finance ("BNPP PF") for the establishment of the JV Company, namely Genius Auto Finance Company Limited, to engage in the vehicles financing business in the PRC. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as defined in the Announcement.

On 11 August 2020, BNPP PF served a written notice to the Company on the exercise of the Call Option pursuant to which, subject to the agreement on the exercise price and other terms, BNPP PF will acquire from the Company such additional equity interest in the JV Company to increase its interest in the JV Company to up to 50%.

Pursuant to the JV Agreement, the exercise price of the Call Option will be determined based on the Fair Market Value at the time of exercise. BNPP PF shall pay the exercise price to the Company on the closing date, subject to any adjustment of such exercise price thereafter in accordance with the JV Agreement. Within 60 business days after determination of the exercise price of the Call Option, the parties shall execute the transfer of the relevant equity interest in the JV Company.

As at the date of this announcement, the exercise price of the Call Option and the exact percentage of equity interest in the JV Company to be acquired by BNPP PF have not been determined and are subject to agreement by the parties. The Company will update the market by way of further announcement(s) in compliance with the Listing Rules once the detailed terms of the above are finalised.

- 1 -

Shareholders and investors are reminded to exercise caution when dealing in the securities of the Company.

By order of the Board of

Geely Automobile Holdings Limited

David C.Y. Cheung

Company Secretary

Hong Kong, 12 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Li Shu Fu (Chairman), Mr. Yang Jian (Vice Chairman), Mr. Li Dong Hui, Daniel (Vice Chairman), Mr. Gui Sheng Yue (Chief Executive Officer), Mr. An Cong Hui, Mr. Ang Siu Lun, Lawrence and Ms. Wei Mei, and the independent non-executive directors of the Company are Mr. Lee Cheuk Yin, Dannis, Mr. Yeung Sau Hung, Alex, Mr. An Qing Heng and Mr. Wang Yang.

- 2 -