Weichai Power : VOLUNTARY ANNOUNCEMENT CSRC APPROVAL ON THE PROPOSED NON-PUBLIC ISSUANCE OF A SHARES

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濰柴動力股份有限公司

WEICHAI POWER CO., LTD.

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2338)

VOLUNTARY ANNOUNCEMENT

CSRC APPROVAL ON THE

PROPOSED NON-PUBLIC ISSUANCE OF A SHARES

Reference is made to the announcements of Weichai Power Co., Ltd. (the "Company") dated 24 December 2020, 25 January 2021, 26 January 2021, 29 January 2021 and 12 April 2021 and the circular (the "Circular") of the Company dated 11 January 2021, in respect of, inter alia, the proposed Non-public Issuance of A Shares. Capitalised terms used in this announcement shall have the same meanings as those defined in the Circular unless the context requires otherwise.

The Company is pleased to announce that on 23 April 2021, it received the "Approval Relating to the Proposed Non-PublicIssuance of A Shares of Weichai Power Co., Ltd." (Zheng Jian Xu Ke [2021] No. 1407)* (《關於核准濰柴動力股份有限公司非公開發行股票的批覆》 （證監許可[2021] 1407號)) from the CSRC (the "CSRC Approval"), notifying the Company that its proposal on the Non-publicIssuance of A Shares has been approved. Pursuant to such proposal, the number of shares to be issued in respect of the Non-publicIssuance of A Shares shall be no more than 793,387,389 A Shares, provided that, where there are changes to the total issued share capital of the Company due to events such as capitalisation issue, the number of A Shares to be issued under the Non-publicIssuance may be adjusted accordingly. The CSRC Approval shall be valid for a period of 12 months from the date of issuance of the approval.

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The Board will handle matters related to the Non-public Issuance of A Shares in accordance with the requirements of the CSRC Approval and the authorisation obtained at the general meeting of the Company. Further announcements will be made by the Company in accordance with the Hong Kong Listing Rules and applicable laws and regulations as and when appropriate depending on the progress of the Non-public Issuance of A Shares. Investors are advised to exercise caution when dealing in the H Shares or other securities of the Company.

By order of the Board of Directors

Weichai Power Co., Ltd.

Tan Xuguang

Chairman and CEO

The PRC, 23 April 2021

As at the date of this announcement, the executive Directors of the Company are Mr. Tan Xuguang, Mr. Zhang Quan, Mr. Xu Xinyu, Mr. Sun Shaojun, Mr. Yuan Hongming and Mr. Yan Jianbo; the non-executive Directors of the Company are Mr. Zhang Liangfu, Mr. Jiang Kui, Mr. Gordon Riske and Mr. Michael Martin Macht; and the independent non-executive Directors of the Company are Mr. Li Hongwu, Mr. Wen Daocai, Ms. Jiang Yan, Mr. Yu Zhuoping and Ms. Zhao Huifang.

• For identification purposes only

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