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北京汽車股份有限公司 BAIC MOTOR CORPORATION LIMITED* (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1958)

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北京汽車股份有限公司 BAIC MOTOR CORPORATION LIMITED* (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1958) Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 北京汽車股份有限公司 BAIC MOTOR CORPORATION LIMITED* (A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1958) CONNECTED TRANSACTION SUBSCRIPTION OF NEW A SHARES OF BAIC BLUEPARK The Board announces that, on 3 August 2020, BAIC Guangzhou, a wholly-owned subsidiary of the Company, and BAIC BluePark, an A-share listed subsidiary of BAIC Group, which is a controlling shareholder of the Company, entered into the Share Subscription Agreement, pursuant to which BAIC BluePark agrees to issue to BAIC Guangzhou, and BAIC Guangzhou agrees to subscribe for, not less than 6.25% of the total number of new A shares to be issued by BAIC BluePark, at the subscription price to be determined in accordance with the pricing principle in respect of the A Share Issuance of BAIC BluePark, and up to a maximum subscription amount of RMB343.8753 million. On the same date, each of BAIC Group and its subsidiary, Bohai Automotive, entered into relevant share subscription agreement with BAIC BluePark, for the subscription of not less than 29.57% and 3.01% of the total number of new A shares to be issued by BAIC BluePark, respectively, at the same subscription price and under the same conditions as those agreed with BAIC Guangzhou, and up to a maximum subscription amount of RMB1,626.5805 million and RMB165.7231 million respectively. The Subscription is subject to the satisfaction of all the conditions precedent under the Share Subscription Agreement, including BAIC BluePark obtaining the approval of the shareholders’ general meeting for the A Share Issuance of BAIC BluePark, and the consent of organizations authorized by competent stated-owned assets supervision and management authorities, and the approval of the CSRC. As at the date of this announcement, BAIC Guangzhou, BAIC Group and Bohai Automotive respectively hold 6.25%, 29.57% and 3.01% equity interests in BAIC BluePark. In accordance with relevant requirements of the Share Subscription Agreement, the minimum shareholding percentage of BAIC Guangzhou in BAIC BluePark will remain at 6.25% and the maximum shareholding percentage of BAIC Guangzhou in BAIC BluePark will not exceed 7.32% if the Subscription completes (if the actual subscription price is determined according to the audited net asset value per share of BAIC BluePark as at 31 December 2019, namely RMB5.06). 1 As at the date of this announcement, BAIC Group is the sole controlling shareholder of the Company and holds 42.63% of the total issued share capital of the Company, and therefore, BAIC Group and its subsidiaries, BAIC BluePark and Bohai Automotive, are connected persons of the Company, pursuant to Chapter 14A of the Listing Rules. The joint subscription by BAIC Guangzhou, a wholly-owned subsidiary of the Company, and BAIC Group and Bohai Automotive for new A shares proposed to be issued by BAIC BluePark constitutes a connected transaction of the Company. For the purpose of calculation of the size of transactions in accordance with relevant requirements of the Listing Rules, the Company has consolidated the Transaction and the transaction in relation to the additional capital contribution to Beijing New Energy Vehicle Technology Innovation Center Co., Ltd. (北京新能源汽車技術創新中心有限公司) disclosed in the announcement of the Company dated 24 December 2019, the transaction in relation to the additional capital contribution to BAIC Group Finance Co., Ltd. (北京汽車集團財務有限公司) disclosed in the announcement of the Company dated 13 February 2020, and the transaction in relation to the acquisition of a 100% equity interest in BAIC International Development Co., Ltd. (北京汽車國際發展有限公司) and a 24.78% equity interest in BAIC Yunnan Ruili Motor Co., Ltd. (北汽雲南瑞麗汽車有限公司) from BAIC Group disclosed in the announcement of the Company dated 13 March 2020. As one or more of the applicable percentage ratios calculated, based on the maximum subscription amount (RMB343.8753 million) of BAIC Guangzhou and the maximum increasement (namely 1.07%) of BAIC Guangzhou’s shareholding percentage in BAIC BluePark upon completion of the Transaction, and after the consolidation of the above transactions, is more than 0.1%, but are all less than 5%, the Company shall, in relation to the Transaction, comply with the reporting and announcement requirements, but is exempt from circular and independent Shareholders’ approval requirements, pursuant to Chapter 14A of the Listing Rules. The maximum increasement of BAIC Guangzhou’s shareholding percentage in BAIC BluePark upon completion of the aforesaid transaction is calculated, assuming that BAIC Guangzhou subscribes for relevant new A shares at the lowest subscription price under the Reserve Issue Price for the A Share Issuance of BAIC BluePark, namely the audited net asset value per share of BAIC BluePark as at 31 December 2019. If the issuance period of the A Share Issuance of BAIC BluePark is later than the publication date of its audited accounts for 2020, there may be changes in the aforesaid lowest subscription price, leading to the maximum increasement of BAIC Guangzhou’s shareholding percentage in BAIC BluePark upon completion of the Transaction exceeding 1.07%. In such case, the Company will conduct the size tests again, based on the finally determined subscription price, in accordance with the Listing Rules. If the Subscription is subject to stricter approval and disclosure requirements according to the result of the tests, the Company will further comply with such requirements on the Subscription in accordance with the Listing Rules. 2 INTRODUCTION The Board announces that, on 3 August 2020, BAIC Guangzhou, a wholly-owned subsidiary of the Company, and BAIC BluePark, an A-share listed subsidiary of BAIC Group, which is a controlling shareholder of the Company, entered into the Share Subscription Agreement, pursuant to which BAIC BluePark agrees to issue to BAIC Guangzhou, and BAIC Guangzhou agrees to subscribe for, not less than 6.25% of the total number of new A shares to be issued by BAIC BluePark, at the subscription price to be determined in accordance with the pricing principle in respect of the A Share Issuance of BAIC BluePark, and up to a maximum subscription amount of RMB343.8753 million. On the same date, each of BAIC Group and its subsidiary, Bohai Automotive, entered into relevant share subscription agreement with BAIC BluePark, for the subscription of not less than 29.57% and 3.01% of the total number of new A shares to be issued by BAIC BluePark, respectively, at the same subscription price and under the same conditions as those agreed with BAIC Guangzhou, and up to a maximum subscription amount of RMB1,626.5805 million and RMB165.7231 million respectively. The Subscription is subject to the satisfaction of all the conditions precedent under the Share Subscription Agreement, including BAIC BluePark obtaining the approval of the shareholders’ general meeting for the A Share Issuance of BAIC BluePark, and the consent of organizations authorized by competent stated-owned assets supervision and management authorities, and the approval of the CSRC. As at the date of this announcement, BAIC Guangzhou, BAIC Group and Bohai Automotive respectively hold 6.25%, 29.57% and 3.01% equity interests in BAIC BluePark. In accordance with relevant requirements of the Share Subscription Agreement, the minimum shareholding percentage of BAIC Guangzhou in BAIC BluePark will remain at 6.25% and the maximum shareholding percentage of BAIC Guangzhou in BAIC BluePark will not exceed 7.32% if the Subscription completes (if the actual subscription price is determined according to the audited net asset value per share of BAIC BluePark as at 31 December 2019, namely RMB5.06). SHARE SUBSCRIPTION AGREEMENT The principal terms of the Share Subscription Agreement are as follows: Parties: BAIC Guangzhou (as the subscriber) BAIC BluePark (as the issuer) Date: 3 August 2020 Effective date and The Agreement comes into force after signed by the legal or conditions precedent: authorized representatives and chopped with the official chops of both parties, and upon the satisfaction of the following conditions: (1) the board of directors of BAIC BluePark passes a resolution to approve the A Share Issuance of BAIC BluePark; (2) the shareholders’ general meeting of BAIC BluePark passes a resolution to approve the A Share Issuance of BAIC BluePark; 3 (3) the competent decision-making authorities of BAIC Guangzhou approves the subscription by BAIC Guangzhou of new A shares issued under the A Share Issuance of BAIC BluePark; (4) BAIC Guangzhou obtains the confirmation or consent of the Hong Kong Stock Exchange, for the subscription of new A shares issued under the A Share Issuance of BAIC BluePark, which constitutes a connected transaction of the Company under the Listing Rules and is subject to relevant regulatory requirements; (5) organizations authorized by competent state-owned assets supervision and management authorities approve the A Share Issuance of BAIC BluePark; and (6) CSRC approves the A Share Issuance of BAIC BluePark. Subscription price, The pricing benchmark date for the A Share Issuance of BAIC basis of pricing and BluePark is the first day of the issuance period (the “Pricing maximum subscription Benchmark Date”). The issue price shall not be less than 80% of amount: the average trading price of shares of BAIC BluePark for 20 trading days prior to the Pricing Benchmark Date (excluding the Pricing Benchmark Date, similarly hereinafter), and the latest audited net asset value per share of BAIC BluePark prior to the issuance (the “Reserve Issue Price”).
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