The board of directors (the "Board") of Wuling Motors Holdings Limited announced that with effect from 29 March 2023, Mr. Song Wei ("Mr. Song") has been appointed as the chief executive officer of the Company (CEO) (Appointment) for an initial term of three years to fill the vacancy left from the passing away of the late Mr. Lee Shing, former CEO and executive director of the Company on 23 January 2022. The biographical details of Mr. Song are set out as follows: Mr. Song, aged 37, is the vice executive officer of the Company prior to his appointment as the CEO and is also currently the manager of Wuling Motors (Hong Kong) Company Limited, the intermediate holding company of the Company. Mr. Song holds an undergraduate degree in Thermal Energy and Power Engineering (Automotive) and is currently studying EMBA at Huazhong University of Science and Technology.

He has been engaged in the group of Guangxi Automobile Holdings Limited (Guangxi Automobile) the ultimate controlling shareholder of the Company since 2010. Prior to his present position, Mr. Song worked as a new product R&D engineer in Liuzhou Wuling Liuji Motors Company Limited*, a subsidiary of the Company, and also served in the general office of Guangxi Automobile and its board of directors assisting the secretary of the board of directors in performing various duties covering general administration, corporate governance, modern enterprise construction and other related aspects. In addition, he also served as the general manager of Beijing Lingyun Technology Co., Ltd, a subsidiary of Guangxi Automobile.

Pursuant to the Appointment, Mr. Song shall be responsible for the running of the executive functions of the Company, whose duties and responsibilities shall include, inter alia, (a) recommending policies and strategic development for Board approval; (b) implementing the strategies and policies adopted by the Board relating to the daily operations of the Company; (c) developing and formulating business plans, budgets, strategies, business and financial targets for consideration by the Board, and conducting such plans, budgets, strategies and targets as approved by the Board;(d) carrying out the business activities of the Company within the scope as specified by the Board and reporting regularly to the Board on any significant business developments; (e) in case any proposed transactions, undertakings or arrangements exceed the scope as specified by the Board, referring the matters to the Board or relevant committees, as and when appropriate, for consideration and approval; and (f) identifying and managing operational and other risk factors which may have material impact on the Company's business, and, as and when appropriate, formulating relevant risk management strategies for submitting to the Board or relevant committees for consideration.