ECARX Holdings Inc. Prices Initial Public Offering of 25,000,000 Class A Ordinary Shares

Ecarx Holdings Inc. Announces Proposed Offering of $25,000,000 Class A Ordinary Shares

March 25, 2023 - Ecarx Holdings Inc. (the "Company"), a leading provider of electric vehicle ("EV") charging solutions, today announced that it has filed a registration statement with the Securities and Exchange Commission (the "SEC") for a proposed public offering of $25,000,000 of Class A ordinary shares.

The proposed offering is expected to be priced and sold on a "best-efforts" basis, with J.P. Morgan Securities LLC acting as the sole bookrunner and representative of the underwriters. The Company intends to use the net proceeds from the offering to expand its sales and marketing efforts, invest in research and development, and for general corporate purposes.

"We are excited to announce this proposed offering, which we believe will help us accelerate our growth and expansion plans," said [Name], CEO of Ecarx Holdings Inc. "The additional capital will enable us to further invest in our EV charging solutions and infrastructure, and to drive our mission to make electric vehicle charging more accessible and convenient for consumers and fleets alike."

The proposed offering is subject to market and other conditions, and there can be no assurance that the offering will be completed or as to the size or terms of the offering. The Company expects to file a prospectus supplement and a related prospectus with the SEC, which will contain more detailed information about the proposed offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The proposed offering will be made only by means of a prospectus supplement and a related prospectus, which will be filed with the SEC. A copy of the prospectus supplement and the related prospectus, when available, may be obtained from J.P. Morgan Securities LLC.