On December 12, Fitch Ratings (Sustainable Fitch) updated the ESG (Environmental, Social, and Governance) entity rating tracking data for the Asia-Pacific region, and NaaS Technology (NAAS.US) received the latest rating of '2', with the entity score rising from '76' to '78', which is the highest score in the Asia-Pacific region's ESG entity ratings. Fitch Ratings provided reasons for upgrading NaaS Technology's entity rating score: driven by an expansion in services, geographical coverage, and user base, the company's green energy solutions business has achieved significant growth.

Among the 170 evaluated companies in the seven industries tracked by Fitch Ratings (Electrical Utilities - Corporate, Energy, Natural Resources, Electrical Utilities, Power Market and Generation, Public Utilities, Infrastructure), NaaS Technology ranks 11th globally and 1st in the Asia-Pacific region.

It is worth mentioning that NaaS Technology is the first company in China to receive the 'Focused Company' label. Fitch Ratings believes that charging facilities are fundamental to supporting the widespread adoption of Electric Vehicles and Plug-in Hybrid Electric Vehicles, and NaaS Technology's charging services and energy solutions business make significant contributions to mitigating climate change, with the company's carbon emissions intensity per unit of income decreasing compared to 2022. Therefore, the company is given the 'Focused Company' label.

Fitch Ratings' ESG ratings provide a global solution for ESG investors, evaluating the environmental, social, and governance performance of all asset classes from the perspectives of entities, frameworks, and tools, thus safeguarding investors in making accurate and appropriate investment decisions. Fitch Ratings offers a complete series of ESG tracking ratings, including entity ratings, framework ratings, and tool ratings. The ESG rating system is divided into levels '1-5', with '1' being the highest level. It is understood that currently in China, '2' is the highest rating that companies can achieve.

Zhai Yubo, General Manager of Sustainable Development at NaaS Technology, stated that receiving a '2' rating and having the highest score in the Asia-Pacific region highlights the international rating agency’s full recognition of NaaS Technology’s ESG practices. This year, the company has completely upgraded its ESG sustainable development strategy, creatively proposing a GREEN sustainable development strategy and value model—'Green Charging, Green World', focusing on five major ESG action pillars: Governance, Reinvention, Eco-consciousness, Empathy, and Nurture, forming a closed-loop operational performance management in 20 major sub-sectors, achieving ESG full life cycle management that covers all businesses and scenarios.

Outstanding performance in carbon reduction has been a 'bonus' for NaaS Technology's ESG practices recognized by numerous international institutions. The carbon reduction effect of charging for Electric Vehicles is significant, with higher levels of public participation and recognition, presenting great potential for future growth. In July 2024, the company was successfully selected by the globally recognized rating agency S&P Global for the 'Sustainability Yearbook (China Edition) 2024', and received a special mention as one of the best 5% companies in the Retail Trade industry, significantly leading the industry average. Earlier, the company also achieved excellent results in the CDP Climate Change questionnaire conducted by the Global Environmental Information Research Center.

Especially in promoting the popularity, mechanism innovation, and exploration of trading models for Carbon Inclusiveness, NaaS Technology is at the forefront of the Industry. The company took the lead in establishing carbon accounts for Electric Vehicles charging in the Industry. Vehicle owners can earn carbon points through charging behavior, which are recorded in the carbon ledger, and the carbon points earned can be used for Cash deductions during charging. Recently, the company also participated in completing the first domestic trade of carbon reduction for the Electric Vehicle charging service industry in Wuhan, taking an important step forward for Carbon Inclusiveness. As of June 30, 2024, the number of users utilizing carbon accounts on the Fast Charge platform has reached 0.8 million.

Since the beginning of this year, NaaS Technology has strategically focused on interconnected charging service businesses, strengthening ecological construction on both the supply and demand sides, and further expanding the network scale connecting charging stations and charging guns. The Q3 Earnings Reports show that NaaS Technology has covered a cumulative total of 0.096 million charging stations, a year-on-year growth of 40%, and has cumulatively connected 1.146 million charging guns, a year-on-year growth of 49%. In the future, surrounding the charging scenarios for Electric Vehicles, NaaS Technology will continue to improve ecological construction and promote the green upgrade of the entire Industry Chain.