PROPOSED AMENDMENTS TO THE EXISTING THIRDAMENDED AND RESTATED MEMORANDUM AND ARTICLESOF ASSOCIATION AND ADOPTION OF THE FOURTHAMENDED AND RESTATED MEMORANDUM AND ARTICLESOF ASSOCIATION

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.(Incorporated in the Cayman Islands with limited liability) (Stock Code: 01250) PROPOSED AMENDMENTS TO THE EXISTING THIRD AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION AND ADOPTION OF THE FOURTH AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION The Board proposes to make certain amendments to the Existing M&A and to adopt a New M&A for the purposes of among other things (i) allowing (but not requiring) Directors to sign or otherwise signify agreement to resolutions by electronic means; (ii) adopting the paperless regime brought by the amendments to the Listing Rules effective from 31 December 2023; (iii) allowing treasury shares to be kept by the Company in view of the recent amendments to the Listing Rules to be effective from 11 June 2024; and (iv) incorporating certain housekeeping changes.The proposed amendments to the Existing M&A and the adoption of the New M&A shall be subject to the approval of the Shareholders by way of a special resolution at the EGM.A circular containing among other things details of the proposed amendments to the Existing M&A and the adoption of the New M&A together a the notice convening the EGM and the related form of proxy will be issued to the Shareholders in accordance with the Listing Rules in due course. 1This announcement is made by the Company pursuant to Rule 13.51(1) of the Listing Rules. The Board proposes to make certain amendments to the Existing M&A and to adopt a New M&A for the purposes of among other things (i) allowing (but not requiring) Directors to sign or otherwise signify agreement to resolutions by electronic means; (ii) adopting the paperless regime brought by the amendments to the Listing Rules effective from 31 December 2023; (iii) allowing treasury shares to be kept by the Company in view of the recent amendments to the Listing Rules to be effective from 11 June 2024; and (iv) incorporating certain housekeeping changes.The proposed amendments to the Existing M&A and the adoption of the New M&A shall be subject to the approval of the Shareholders by way of a special resolution at the EGM.CLOSURE OF REGISTER OF MEMBERS For the purpose of determining Shareholders’ entitlement to attend and vote at the EGM the register of members of the Company will be closed from Friday 21 June 2024 to Wednesday 26 June 2024 (both days inclusive) during which period no transfer of Shares will be registered. In order to qualify for attending at the EGM all properly completed transfer forms accompanied by the relevant share certificates must be lodged for registration with the Company’s branch share registrar and transfer office in Hong Kong Tricor Investor Services Limited at 17/F Far East Finance Centre 16 Harcourt Road Hong Kong not later than 4:30 p.m. on Thursday 20 June 2024. GENERAL The proposed amendments to the Existing M&A and the adoption of the New M&A shall be subject to the approval of the Shareholders by way of a special resolution at the EGM. To the best knowledge information and belief of the Directors having made all reasonable enquiries no Shareholder shall be required to abstain from voting on the resolutions for approving the proposed amendments to the Existing M&A and the adoption of the New M&A at the EGM. 2A circular containing among other things details of the proposed amendments to the Existing M&A and the adoption of the New M&A together a the notice convening the EGM and the related form of proxy will be issued to the Shareholders in accordance with the Listing Rules in due course.DEFINITIONS Unless otherwise specified the following terms have the following meanings in this announcement: “Board” the board of directors of the Company “Company” Shandong Hi-Speed New Energy Group Limited “Director(s)” the director(s) of the Company “EGM” the extraordinary general meeting of the Company to be convened and held at Conference Room 38/F The Center 99 Queen’s Road Central Central Hong Kong on Wednesday 26 June 2024 at 11:30 a.m. for the purpose of considering and if thought fit approving among other things the Proposed Amendments and the adoption of the New M&A “Existing M&A” existing third amended and restated memorandum and articles of association of the Company “HK$” Hong Kong dollars the lawful currency of Hong Kong “Hong Kong” the Hong Kong Special Administrative Region of the People’s Republic of China “Listing Rules” the Rules Governing the Listing of Securities on the Stock Exchange “New M&A” the fourth amended and restated memorandum and articles of association of the Company 3“Shareholder(s)” holder(s) of issued Share(s) of the Company “Shares” ordinary share(s) of HK$0.05 each in the share capital of the Company “Stock Exchange” The Stock Exchange of Hong Kong Limited By Order of the Board Shandong Hi-Speed New Energy Group Limited Wang Xiaodong Chairman Hong Kong 30 May 2024 As at the date of this announcement the Board comprises Mr. Wang Xiaodong Mr. Zhu Jianbiao Mr. Wang Wenbo Mr. Sun Qingwei Ms. Liao Jianrong Mr. Li Li Mr. He Yongbing and Mr. Wang Meng as executive Directors; and Professor Qin Si Zhao Mr. Victor Huang Mr. Yang Xiangliang and Mr. Chiu Kung Chik as independent non-executive Directors. 4