Wuhan Lotus Technology Co., Ltd. entered into a letter of intent to acquire L Catterton Asia Acquisition Corp (NasdaqCM:LCAA) from Lca Acquisition Sponsor, Lp and others in a reverse merger transaction on November 9, 2022. Wuhan Lotus Technology Co., Ltd. entered into a definitive agreement to acquire L Catterton Asia Acquisition Corp (NasdaqCM:LCAA) from Lca Acquisition Sponsor, Lp and others in a reverse merger transaction on January 31, 2023. As per the transaction, the combined Company will retain its name as Lotus Technology Inc. The transaction is subject to shareholders approval of L Catterton Asia Acquisition Corp and Wuhan Lotus Technology Co., Ltd. and is approved by board of directors of L Catterton Asia Acquisition Corp and Wuhan Lotus Technology Co., Ltd. The transaction is expected to be completed in the latter half of 2023. On March 10, 2023, LCAA held an extraordinary general meeting of its shareholders, at which the LCAA shareholders approved a proposal to amend LCAA?s Amended and Restated Memorandum and Articles of Association to extend the date by which LCAA must (a) consummate a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination, (b) cease its operations except for the purpose of winding up if it fails to complete such initial business combination and (c) redeem all of the LCAA Public Shares if it fails to complete such initial business combination, from March 15, 2023 to June 15 to allow the LCAA Board, without another shareholder vote, to elect to further extend the date to consummate an initial business combination after June 15, 2023 up to nine times, by an additional month each time, upon five days? advance written notice prior to the applicable deadline, up to March 15, 2024 or such earlier date as determined by the Board in its sole discretion. As of October 11, 2023, Wuhan Lotus Technology Co., Ltd. entered into the First Amended and Restated Agreement and Plan of Merger, pursuant to which the Original Merger Agreement was amended and restated to provide, among other things, that the Company shall cause a sponsored American depositary share facility to be established with a reputable depositary bank reasonably acceptable to L Catterton Asia Acquisition Corp for the purpose of issuing and distributing the American depositary shares of the Company (the ? Company ADSs ?), each duly and validly issued against the deposit of one underlying ordinary share of the Company, par value $0.00001 per share (the ? Company Ordinary Share ?) deposited with the Depositary Bank in accordance with the deposit agreement to be entered into between the Company and the Depositary Bank. On November 6, 2023, the Extension Committee approved the extension of the Termination Date for one additional month to December 15, 2023 pursuant to its authorization from the Board. On November 13, 2023, the Founder Shareholders and L Catterton Asia entered into an Amendment to the Sponsor Support Agreement. The Amendment reflects the deletion of the Sponsor Shares Forfeiture Mechanism and provides that, in addition to the Sponsor Earn-Out Shares, all or a portion of (as reasonably determined by the Company in good faith) an additional 20% of the Sponsor Shares would become vested upon each occurrence of any vesting event within 18 months of the Closing. On December 6, 2023, the Extension Committee approved the extension of the Termination Date for one additional month to January 15, 2024, pursuant to its authorization from the Board. As on January 12, 2024, it is informed that general meeting of shareholders of L Catterton Asia Acquisition Corp will be held on February 2, 2024. As on February 2, 2024, shareholders of L Catterton Asia Acquisition Corp approved The NTA Proposal, Business Combination Proposal and merger proposal.

Pursuant to the Amended Merger Agreement, immediately prior to the effective time of the First Merger, each Class B ordinary share, par value $0.0001 per share, of L Catterton Asia Acquisition Corp shall be automatically converted into one Class A ordinary share, par value $0.0001 per share, of L Catterton Asia Acquisition Corp (each, a ? L Catterton Asia Acquisition Corp Class A Ordinary Share ?, together with SPAC Class B Ordinary Share, collectively, ? SPAC Shares ?) and shall no longer be issued and outstanding and shall be cancelled. Upon completion of the business combination, the combined company is expected to retain Lotus Tech's name as "Lotus Technology Inc." and its American Depositary Shares (ADS) are expected to be listed on the Nasdaq under the ticker symbol "LOT." As on January 9, 2024, the transactions contemplated by the Merger Agreement are expected to be completed in the first quarter of 2024 and would result in Lotus Tech becoming a public company. As of February 20, 2024, the transaction is expected to be completed on February 22, 2024.

Deutsche Bank Aktiengesellschaft acted as financial advisor and Huang, Peter X , Du, Shu, Egan, Brian J, Goldner, Bruce , Hollender and Victor Kwok, Steve of Skadden, Arps, Slate, Meagher & Flom and Han Kun Law Offices acted as legal advisors to Wuhan Lotus Technology Co., Ltd. Credit Suisse Securities (USA) LLC acted as financial advisor and Jesse Sheley, Joseph Raymond Casey, Steve Lin and Justin You Zhou of Kirkland & Ellis LLP and Chen Bao, Suyin Tan, Stephen Liu, Fang Qi, Jin Wang, Joy Wong and Sophia Han of Fangda Partners acted as legal advisors to L Catterton Asia Acquisition Corp Harald Halbhuber, Ilir Mujalovic, Kyungwon Lee, Harald Halbhuber, Ilir Mujalovic, and Kyungwon Lee of Shearman & Sterling LLP acted as international legal counsel to Credit Suisse Securities (USA) LLC. Shearman & Sterling LLP acted as international legal counsel to Deutsche Bank and Santander US Capital Markets LLC. The Depository Trust Company acted as depository bank to Wuhan Lotus Technology Co., Ltd. Continental Stock Transfer & Trust Company acted as transfer agent, Fangda Partners acted as due dilitgence provider, PricewaterhouseCoopers Consultants (Shenzhen) Limited acted as accountant, PricewaterhouseCoopers Consultants (Shenzhen) Limited, Asset Managment Arm acted as financial adviosor and Morrow & Co., LLC acted as proxy solicitor to L Catterton Asia Acquisition Corp. and will pay to Morrow Sodali LLC a fee of $32,500, plus disbursements.

Wuhan Lotus Technology Co., Ltd. Completed the acquisition of L Catterton Asia Acquisition Corp (NasdaqCM:LCAA) from Lca Acquisition Sponsor, Lp and others in a reverse merger transaction on February 22, 2024.