Shaanxi Fargo Supply Chain Management Co. Ltd. (Shaanxi Fargo) entered into an Industrial Products Sale and Purchase Contract with Shaanxi Heavy Duty Automobile Co. Ltd. (Shaanxi Heavy Duty Automobile) on 9 July 2024, pursuant to which Shaanxi Fargo will provide Shaanxi Heavy Duty Automobile with power battery systems and battery replacement systems at an aggregate price of RMB 13,356,415.50 (excluding tax).

A summary of the principal terms of the Industrial Products Sale and Purchase Contract is as follows: Date: 9 July 2024; Parties: Shaanxi Fargo (as the Seller); and Shaanxi Heavy Duty Automobile (as the Purchaser). Subject matter: Shaanxi Fargo will provide Shaanxi Heavy Duty Automobile with power battery systems and battery replacement systems at an aggregate price of RMB 13,356,415.50 (excluding tax), including: 50 sets of in-vehicle battery replacement base at an aggregate price of RMB 919,911.50 (excluding tax); and 50 sets of 350.2kWh replaceable battery system assembly at an aggregate price of RMB 12,436,504.00 (excluding tax). The original acquisition cost paid by Shaanxi Fargo for and the book value of the abovementioned power battery systems and battery replacement systems was approximately RMB 12,304,787.50.