JianglingMotorsCorporation,Ltd.PublicAnnouncementonProposedCapitalIncreaseintheControlledSubsidiaryandRelatedPartyTransactions

JianglingMotorsCorporation,Ltd.anditsBoardmembersundertakethattheinformationdisclosedhereinistruthful,accurateandcompleteanddoesnotcontainanyfalsestatement,misrepresentationormajoromission.I.BriefIntroductionofRelatedPartyTransactionsi.BasicinformationofrelatedpartytransactionsInordertomeettheneedsoftheCompany'spassengervehiclebusinessdevelopment,JianglingMotorsCo.,Ltd.(hereinafterreferredtoas"JMC"or"theCompany"),JianglingMotorsSalesCo.,Ltd.(awholly-ownedsubsidiaryoftheCompany),andFordMotorSalesService(Shanghai)Co.,Ltd.(awholly-ownedsubsidiaryofFordMotorCompany)enteredintotheDistributionServiceContractforJMCFordBrandVehiclestoauthorizeFordMotorSalesService(Shanghai)Co.,Ltd.toprovidefull-scaledistributionservicesfortheFordbrandedpassengervehiclesandFordbrandedpickupsmanufacturedbyJMC.TheCompanyplannedtojointlyincreasecapitalwithFordMotorCompany(hereinafterreferredtoas“Ford”)attheiroriginalshareholdingratiostotheCompany’scontrollingsubsidiary,JianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(hereinafterreferredtoas“JianglingFord(Shanghai)”.TheCompanywillcontributeRMB126,378millionthroughdebt-to-equityconversion,whileFordwillinvestRMB121,422incashtosettletheliabilitiesofJianglingFord(Shanghai).Uponcompletionofthiscapitalincrease,theCompanywillremaina51%equitystakeinJianglingFord(Shanghai),maintainingitscurrentownershipratiounchanged.ii.BasicinformationofRelatedRelationshipsFordholds32%oftheCompany’sequityandisthesecondlargestshareholderoftheCompany,therefore,thedistributionservicesauthorizedbythistimeandthecapitalincreasetothesubsidiaryconstituterelatedpartytransactions.iii.Relevantprocedurestobeperformedforthesetransactions

1.Thesetransactionshavebeenreviewedandapprovedbythe2025SecondSpecialMeetingoftheIndependentDirectorsoftheCompany,andtheIndependentDirectorsunanimouslyagreedtosubmitittotheBoardofDirectorsforreview.

2.TheBoardofDirectorsoftheCompanyreviewedandapproved,informofapapermeetingonSeptember22,2025,theDistributionServiceContractforJMCBrandVehiclesamongtheCompany,JianglingMotorSalesCo.,Ltd.andFordMotorSalesService(Shanghai)Co.,Ltd.,aswellastheRevisionandRestatementoftheJointVentureandShareholders'AgreementofJianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(2025)betweentheCompanyandFord.Duringthevoteontheabove-mentionedproposals,relatedDirectorsMr.ShengpoWu,Mr.RyanAnderson,andMs.XiongChunyingwithdrewfromvoting,whilealltheotherDirectorsapprovedtheseproposals.

3.Astheamountofcapitalincreasetothesubsidiaryexceeds5%oftheCompany'sauditednetassetsattheendoflastyear,thiscapitalincreasetransactionstillneedstobesubmittedtotheshareholders'meetingoftheCompanyforapproval.

4.ThesetransactionsdonotconstituteamaterialassetreorganizationstipulatedinMeasuresfortheAdministrationofMaterialAssetReorganizationofListedCompaniespromulgatedbyCSRC.II.DistributionServiceContractforJMCFordBrandVehicleswithFordi.BasicinformationaboutthepartiestotheContract

1.BasicInformationCompanyName:FordMotorSalesService(Shanghai)Co.,Ltd.Registrationplace:Unit03,36thFloor,ShanghaiInformationTower,No.211CenturyAvenue,

China(Shanghai)PilotFreeTradeZone.Dateofestablishment:April12,2019Legalrepresentative:ShengpoWuEnterpriseType:LimitedLiabilityCompany(whollyforeign-ownedenterprise),awhollyowned

subsidiaryofFordBusinessScope:Engineeringandtechnicalresearchandexperimentaldevelopment;salesof

vehicles,newenergyvehicles,autoparts,etc.ForinformationaboutFord,pleaserefertotherelevantintroductioninthenextsection.CompanyName:JianglingMotorsSalesCo.,Ltd.Registrationplace:JMCBuilding,No.2111YingbinMiddleAvenue,NanchangCity,Jiangxi

Province,People’sRepublicofChina.Dateofestablishment:October11,2013Legalrepresentative:ZhongJunhuaEnterpriseType:LimitedLiabilityCompany,awhollyownedsubsidiaryoftheCompanyBusinessScope:Salesofvehiclesandautoparts.

2.FinancialconditionPleaserefertothe2025Half-yearReportofJMCpublishedbytheCompanyonAugust26,2025onthewebsitewww.cninfo.com.cn.forthefinancialdataofJianglingMotorsSalesCo.,Ltd.

3.CreditworthinessAccordingtotheChinaEnforcementInformationPublicityNetwork,FordMotorSalesService(Shanghai)Co.,Ltd.andJianglingMotorsSalesCo.,Ltd.arenotpersonssubjecttoenforcementfordishonesty.ii.MaincontentsoftheDistributionServiceContractforJMCBrandVehicles

1.JMCContractProductsmeanstheJMCFordBrandVehicles,i.e.‘thelocalizedFordbrandedpassengervehiclesandlocalizedFordbrandedpickupwhichhavebeenandtobemanufacturedbyJMCforChinaMarket’,aswellasthepartsandaccessoriesusedontheJMCFordBrandvehicles,andthemerchandise,thescheduledserviceprogram,extendedwarranty,andotherderivativeserviceproductsapplicabletotheJMCFordBrandVehicles.

2.AstheentrepreneurofJMCContractProducts,JMCauthorizesFordMotorSalesService(Shanghai)Co.,Ltd.toprovidefull-scaleDistributionServicesasspecifiedinthisContractinChinaMarket,includingthemarketing,salesandservicefortheContractProducts,aswellasthe

businessandoperationactivitiesrelatedtodealernetworkestablishment,managementandadjustment.AsFordbrandownerandDistributionServicesprovider,FordMotorSalesService(Shanghai)Co.,Ltd.willimplementaunifiedmarketingandnetworkmanagementoftheFordBrandDealerNetwork.

3.JianglingMotorsSalesCo.,Ltd.,asawhollyownedsubsidiaryofJMC,shallperformrelevantclausesofthisContractbasedonJMC’sauthorization,includingbutnotlimitedtothewholesaleoftheJMCContractProductsandmakingpaymentoftheDistributionServicesfeetoFordMotorSalesService(Shanghai)Co.,Ltd.

4.FortheDistributionServicesrelatedtotheContractProductsprovidedbyFordMotorSalesService(Shanghai)Co.,Ltd.underthisContract,JMCshallpaytherelevantDistributionServicesfeetoFordMotorSalesService(Shanghai)Co.,Ltd.

5.ThisContractshallcomeintoforceonthedatefirstwrittenaboveandshalllastuntiltheendoflifecycleoftheJMCFordBrandVehicles.Note:TheestimatedannualamountoftherelevantDistributionServicesfeepayabletoFordMotorSalesService(Shanghai)Co.,Ltd.isexpectedtorangefromapproximatelyRMB250milliontoRMB300million.iii.PricingpolicyforrelatedpartytransactionsTheservicefeeinthisagreementisanagreementprice,whichshallbedeterminedthroughcostaccounting,quotation,andnegotiationbetweentheparties.iv.PurposeoftherelatedpartytransactionanditsimpactontheCompanyThepurposeofthisrelatedpartytransactionanditsimpactontheCompanyaredetailedinthe(v)ofthefollowingsection:‘PurposeoftheVehicleDistributionServicesTransactionandtheCapitalIncreasetotheControllingSubsidiarywithFordaswellastheirImpactontheCompany’.III.CapitalIncreasetotheControllingSubsidiaryi.Basicinformationonrelatedparties

1.BasicInformationCompanyName:FordMotorCompanyHeadquarterLocation:Detroit,U.S.A.Chairman:WilliamClayFord,Jr.EnterpriseType:aUSA-basedlistedcompanyBusinessScope:todesign,manufacture,market,andserviceafulllineofFordcars,trucks,sport

utilityvehicles(“SUVs”),electrifiedvehicles,andLincolnluxuryvehicles,providefinancialservicesthroughFordMotorCreditCompanyLLC.

2.FinancialconditionAuditedfinancialdataforthemostrecentyear:

Unit:US$million

3.CreditworthinessAccordingtotheChinaEnforcementInformationPublicityNetwork,Fordisnotapersonsubjecttoenforcementfordishonesty.iiInformationonthetargetcompanyoftherelatedpartytransaction

1.BasicInformationCompanyName:JianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.Registeredcapital:RMB200millionEnterpriseType:LimitedLiabilityCompany(foreigninvestment,non-soleproprietorship)Registrationplace:Unit06,36thFloor,No.211CenturyAvenue,China(Shanghai)PilotFree

TradeZone.Legalrepresentative:AndersonLiuBusinessScope:Engineeringandtechnologyresearchandexperimentaldevelopment,salesof

vehicles,newenergyvehicles,autoparts,etc.

2.FinancialconditionFinancialdataforthemostrecentyearandperiod:

Unit:RMB'000

JianglingFord(Shanghai)hadtotalliabilitiesofRMB2.296billionasofJune30,2025,ofwhichRMB1.47billionisowedtoJMC,mainlyduetodailyoperations.TheauditedreportofJianglingFord(Shanghai)asofSeptember30,2025willbeannouncedtogetherwiththenoticeconveningtheshareholders'meetingtoapprovethisproposal.

3.ShareholdingstructureTheshareholdingstructureofJianglingFord(Shanghai)beforeandafterthecapitalincreaseisasfollows:

4.CreditworthinessAccordingtotheChinaEnforcementInformationPublicityNetwork,JianglingFord(Shanghai)isnotapersonsubjecttoenforcementfordishonesty.iii.PricingpolicyandbasisforrelatedpartytransactionsGiventhatasubstantialportionofJianglingFord(Shanghai)'sliabilitiesconsistsofdebtsowedtotheCompany,theCompanyproposestoconvertdebtintoequity.FordproposestoinjectadditionalcapitalintoJianglingFord(Shanghai)incashtosettlethedebtsofJianglingFord(Shanghai).Beforeandafterthecapitalincrease,theequitystructureofJianglingFord(Shanghai)remainedunchanged,withtheCompany'sshareholdingratioremainingat51%.Thetransactionpriceisbasedonthenewlyaddedregisteredcapital,whichisfairandreasonable,anddoesnotharmtheinterestsoftheCompanyoralltheshareholders,especiallyminorityshareholders.iv.MaincontentsoftheRevisionandRestatementoftheJointVentureandShareholders'AgreementofJianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(2025)

1.ThetotalinvestmentamountandregisteredcapitaloftheJointVentureCompanywillbeRMB2,678million.JMC’scontributiontotheregisteredcapitaloftheJointVentureCompanywillbeRMB1,365.68million,representing51%oftheJointVentureCompany’sregisteredcapital,whichwillbepaidinRMB.ExceptfortheRMB102millionthathasbeenpaidascapitalcontributioninRMBasoftheeffectivedate,theremainingportionshallbecontributedbywayofdebt-to-equityswap.Ford’scontributiontotheregisteredcapitaloftheJointVentureCompanywillbeRMB1,312.22million,representing49%oftheJointVentureCompany’sregisteredcapital,whichwillbepaidinUSDollars,RMB,orHongKongDollars.

2.TheCompanyhaspaidacapitalcontributionofRMB102million,andFordhaspaidacapitalcontributionofRMB98million.TheunpaidportionsbyeachshareholdershallbefullypaidwithinfiveyearsfromthedateofregistrationoftheregisteredcapitalchangeoftheJointVentureCompany.Specially,theCompanyshallcompletethecapitalcontributionofRMB755millionthroughdebt-to-equityconversiononthesamedateasFord’scapitalcontributionin2025,whileFordshallcompleteitscashcontributionofRMB725millionbyDecember31,2025.TheremainingportionshallbeallocatedininstalmentswithspecificpaymentschedulestobedeterminedbyunanimousdecisionoftheJointVenture’sBoardofDirectors.

3.CommencingfromOctober1,2025,theJointVentureCompanyshallconductbusinessandactivitiesrelatedtothesettlementoftheJointVentureCompany'sliabilities,aswellasanyotherbusinessandactivitiesapprovedbytheBoardofDirectorsoftheJointVentureCompany.TheJointVentureCompanywillbewoundupandcancelledafterthedebtissettled.

4.FromthedateofexecutionofthisAgreement,theJointVentureCompanyshallhaveonePresident,oneVicePresidentofFinance,andoneChiefofFinanceDepartment,whoshallbeappointedordismissedbytheBoardofDirectorsoftheJointVentureCompany.Note:ForthemaincontentoftheJointVentureandShareholderAgreementofJianglingFordAutomotiveTechnology(Shanghai)Co.,Ltd.,pleaserefertothePublicAnnouncementonEstablishmentofaJointVenturewithRelatedPartbyJianglingMotorsCo.,Ltd.publishedonSeptember27,2021inChinaSecurities,SecuritiesTimes,HongKongCommercialDaily,andthewebsitewww.cninfo.com.cn.v.PurposeoftheVehicleDistributionServicesTransactionandtheCapitalIncreasetotheControllingSubsidiarywithFordaswellastheirImpactontheCompanyBasedonaseriesofstrategicconsiderationsrelatedtoJianglingFord(Shanghai)anditsbusinessaswellasthecurrentsituationofJianglingFord(Shanghai),theCompanyandFordagreethatitisnecessaryto:

1.FordwillstrategicallyupgradethedealernetworkmanagedbyJianglingFord(Shanghai)andotherChinadealernetworksauthorizedbytheFordbrand,implementingunifiedmarketingandchannelmanagementtosimplifyoperations,eliminateredundancies,andexpandsalesandafter-salesservicecoverage;

2.TheCompanyentrustsJianglingMotorsSalesCo.,Ltd.towholesaleallFordbrandpassengervehiclesandFordbrandPickupsmanufacturedbytheCompanytodealers;

3.TheCompanyengagesaFordsubsidiarytoprovidefull-scaledistributionservicesfortheFordbrandpassengervehiclesandFordbrandPickupsmanufacturedbytheCompany;

4.TheCompanywillconvertdebtintoequity,andFordwillinjectadditionalcapitalincashintoJianglingFord(Shanghai),accordingtotheexistingequityproportion,tosettleitsliabilities.TheaforementionedtransactionsandarrangementswillhelpincreasethesalesvolumeoftheCompany'sFordbrandpassengervehiclesandFordbrandPickups.ThecapitalincreaseanddebtsettlementarrangementsforJianglingFord(Shanghai)willhavenoimpactonthetotalprofitoftheCompany.IVDetailsofallrelatedpartytransactionsthathaveoccurredcumulativelywiththerelatedpartyFromthebeginningofthisyeartotheendoflastmonth,thetotalamountofvariousrelatedpartytransactionsbetweentheCompanyandFordisapproximatelyRMB210million.V.ReviewoftheSpecialMeetingofIndependentDirectorsThe2025SecondSpecialMeetingoftheIndependentDirectorsoftheCompanywasheldonSeptember16,2025toapprovetheDistributionServiceContractforJMCFordBrandVehiclesamongtheCompany,JianglingMotorSalesCo.,Ltd.andFordMotorSalesService(Shanghai)Co.,Ltd.,aswellastheRevisionandRestatementoftheJointVentureandShareholders'AgreementofJianglingFordAutomobileTechnology(Shanghai)Co.,Ltd.(2025)betweentheCompanyandFordMotorCompany,andissuedthefollowingreviewopinions:

i.WehavethoroughlyreviewedtherelevantcontentoftheDistributionServiceContractforJMC

FordBrandVehiclesamongtheCompany,JianglingMotorSalesCo.,Ltd.,andFordMotorSalesService(Shanghai)Co.,Ltd.Aftercarefulexamination,webelievethattheprovisionsintheagreementalignwithstandardcommercialprinciplesandarefairandreasonable.WeagreedtosubmitthisproposaltotheBoardofDirectorsoftheCompanyforreview.

ii.GiventhatthemajorityofliabilitiesinthedebtportfolioofJianglingFord(Shanghai)(asubsidiaryoftheCompany)areowedtotheCompany,theCompanywillimplementadebt-to-equityconversion,andFordwillinjectadditionalcapitalintoJianglingFord(Shanghai)incash.ThesefundsshallbeallocatedtosettletheliabilitiesofJianglingFord(Shanghai).Intheaforementionedcapitalincreasearrangement,therelatedshareholderwillcontributecashaccordingtotheirshareholdingratios,whichcomplieswiththeprincipleoffairnessandreasonablenessanddoesnotharmtheinterestsoftheCompanyoritsshareholders.WeagreetosubmitthisproposaltotheBoardofDirectorsoftheCompanyforreview.IV.ListofDocumentsforReference

1.ReviewOpinionsofY2025SecondSpecialMeetingoftheIndependentDirectors;

2.ResolutionsoftheBoardofDirectorsofJMC.Itisherebyannounced.BoardofDirectorsJianglingMotorsCorporation,Ltd.September24,2025