Dongfeng Motor Group Company Limited announced that on 17 September 2025, the Company, DFL (a jointly-controlled entity and a deemed subsidiary of the Company), Xiangyang Holding and Xianggao Investment entered into the Investment Agreement, pursuant to which, the parties will jointly establish the Joint Venture through capital contribution. The registered capital of the Joint Venture shall be RMB 8.47 billion, of which, the Company and DFL shall contribute RMB 3.55 billion and RMB920 million by way of right-of-use intangible assets and in kind, accounting for approximately 41.9% and 10.9% of the registered capital of the Joint Venture, respectively; The Joint Venture shall be a limited liability company established in accordance with the laws of the PRC and the provisions of the Investment Agreement. It is expected that the Joint Venture will be principally engaged in the manufacture and sale of intelligent off-road vehicles.

Pursuant to the terms of the Investment Agreement, the registered capital of the Joint venture shall be RMB 8. 47 billion. The obligations of the parties to contribute their respective capital commitments are subject to the following conditions precedent: (a) the Joint Venture being legally established in accordance with applicable laws and having obtained a business license issued by the registration authority;. (b) the parties having obtained all necessary internal authorisations, consents, orders, and approvals, as well as all third-party consents, that are necessary in relation to the formation of Joint Venture; (c) the parties having executed all relevant transaction documents; (d) the parties having complied with all applicable regulations on the supervision and management of state-owned assets regarding approval, evaluation, and filing procedures; and.

(e) no force majeure event having occurred or continuing. The formation of the Joint Venture will allow the parties to combine their financial resources, research and development expertise and manufacturing capacity in automotive production and sales. (Dong Feng Qi Che Ji Tuan Gu Fen Xian Gong Si Ni Dui Wai Tou Zi Chan Ping Gu You Xian Gong Si), "Group", the Company and its subsidiaries, "Hong Kong", Hong Kong Special Administrative Region of the PRC, "Investment Agreement", the Investment Agreement in relation to the establishment of the Joint Venture, entered into by the Company, DFL, Xiangyang Holding and Xianggo Investment on 17 September 2025, "Joint Venture", a limited liability company to be established under the laws of the PRC by the Company, DFL Inc, DFL, Xiangyang holding and Xianggao Investment under the Investment Agreement, "Listing Rules", the Rules Governing the Listing of Securities on the Stock Exchange, "NA Valuation Report", Asset Valuation Report on the Value of the Licenses to Use the Proprietary Technology Asset Group for Vehicle Preparation Involved in the Proposed External Investment by the Company.