Wuling Motors : DELAY IN DESPATCH OF CIRCULAR IN RELATION TO (1) SECOND SUPPLEMENTAL AGREEMENT TO THE 2020-2022 MASTER AGREEMENT AND (2) REVISON OF ANNUAL CAPS

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DELAY IN DESPATCH OF CIRCULAR

IN RELATION TO

1. SECOND SUPPLEMENTAL AGREEMENT TO THE 2020-2022 MASTER AGREEMENT

AND

(2) REVISON OF ANNUAL CAPS

Reference is made to the announcement of the Company dated 18 March 2021 (the ''Announcement'') in relation to, among other things, the Second Supplemental Agreement to amend certain terms of the 2020-2022 Master Agreement and to revise the Annual Caps for the aggregate Sale Transactions. Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

As stated in the Announcement, a circular (the ''Circular'') containing, among other things,

1. details of the Second Supplemental Agreement; (ii) a letter from the Independent Board Committee to the Independent Shareholders giving its recommendations in respect of the terms of the Second Supplemental Agreement and the Revised Annual Caps with respect to the aggregate Sale Transactions; (iii) a letter from Gram Capital to the Independent Board Committee and the Independent Shareholders containing its advice in relation to the terms of the Second Supplemental Agreement and the Revised Annual Caps with respect to the aggregate Sale Transactions; and (iv) a notice of the SGM, will be despatched to the Shareholders on or before 13 April 2021.

As the Company requires additional time to prepare the Circular, it is expected that the despatch of the Circular will be postponed to a date on or before 27 April 2021.

On behalf of the Board

Wuling Motors Holdings Limited

Yuan Zhijun

Chairman

Hong Kong, 13 April 2021

As at the date of this announcement, the Board comprises Mr. Yuan Zhijun (Chairman), Mr. Lee Shing (Vice-chairman and Chief Executive Officer), Mr. Yang Jianyong and Mr. Wei Mingfeng as executive Directors, and Mr. Ye Xiang, Mr. Wang Yuben and Mr. Mi Jianguo as independent non-executive Directors.