Zhejiang Zeekr acquires part of Lynk & Co's equity

On November 14, 2024, Geely Holding and Volvo Investment (as sellers), Zhejiang Zeekr (an indirect wholly-owned subsidiary of Zeekr, as buyer) and Lynk & Co (as target company) entered into the Lynk & Co Equity Transfer Agreement, whereby Geely Holding conditionally agreed to sell, and Zhejiang Zeekr conditionally agreed to purchase, Geely Holding’s 20% equity interest in Lynk & Co held as of the date of this announcement for a consideration of RMB3.6 billion (plus accrued interest during the lock-up period); and Volvo Investment conditionally agreed to sell, and Zhejiang Zeekr conditionally agreed to purchase, Volvo Investment’s 30% equity interest in Lynk & Co held as of the date of this announcement for a consideration of RMB5.4 billion (plus accrued interest during the lock-up period). Lynk & Co (as issuer), Zhejiang Zeekr (as subscriber) and Ningbo Geely (as another shareholder of Lynk & Co) also entered into the Lynk & Co Capital Injection Agreement, whereby Lynk & Co conditionally agreed to issue and sell, and Zhejiang Zeekr conditionally agreed to subscribe for and purchase Lynk & Co’s additional registered capital from Lynk & Co for a consideration of RMB367 million. Immediately following the completion of the Lynk & Co acquisition and Lynk & Co capital injection, Lynk & Co will be owned by Ningbo Geely with a 49% stake and Zhejiang Zeekr with a 51% stake.