Gili Motors completed the sale of the joint venture on December 2, 2024, and Aramco Asia Singapore became the new shareholder with a 10% stake. Aurobay Holding (BVI) holds 29.7%, GHPT Limited holds 15.3%, and Reno owns 45%. Upon completion of the transaction, the parties entered into an amended Joint Venture Agreement to clarify their respective rights and obligations and to facilitate the JV's growth in internal combustion engine and hybrid technology.Under the revised Joint Venture Agreement, the exclusive purchase period was extended to 15 years and the value of the sale rights was increased to 67%. Aramco Asia Singapore transfers before and after the moratorium period are subject to priority purchase rights. THE ASSIGNMENT CLAUSE ALLOWS A SHAREHOLDER TO REQUEST A TRANSFER UNDER CERTAIN CONDITIONS...Show More

Gili Motors completed the sale of the joint venture on December 2, 2024, and Aramco Asia Singapore became the new shareholder with a 10% stake. Aurobay Holding (BVI) holds 29.7%, GHPT Limited holds 15.3%, and Reno owns 45%. Upon completion of the transaction, the parties entered into an amended Joint Venture Agreement to clarify their respective rights and obligations and to facilitate the JV's growth in internal combustion engine and hybrid technology.Under the revised Joint Venture Agreement, the exclusive purchase period was extended to 15 years and the value of the sale rights was increased to 67%. Aramco Asia Singapore transfers before and after the moratorium period are subject to priority purchase rights. THE ASSIGNMENT CLAUSE ALLOWS A SHAREHOLDER TO REQUEST A TRANSFER UNDER CERTAIN CONDITIONS BY THE FOUNDING SHAREHOLDER TO PROMPT THE ASSIGNEE TO PURCHASE THE JOINT VENTURE INSTRUMENTS HELD BY THE ASSIGNEE. The put option may be exercised by Aramco Asia Singapore in the event of default of the founding shareholder or in other specific circumstances at the fair market value of the joint venture at the time.This amendment is primarily intended to protect the rights of a minority of shareholders in Aramco Asia Singapore and does not affect the ongoing obligations between Gili Holdings and the joint venture. GEELEY HOLDINGS HOLDS APPROXIMATELY 39% EQUITY IN GILLY AUTOMOBILES AND IS THE PRINCIPAL SHAREHOLDER. This transaction constitutes a connected transaction and has been classified according to the Listing Rules.