Cenntro Electric Group Encourages All Shareholders to Vote in Favor of Proposed Scheme Resolution to Redomicile from Australia to the United States - Seite 2

All Cenntro Shareholders are encouraged to vote at the Scheme Meeting in person, online or by attorney or corporate representative, or alternatively by completing and ensuring the proxy form accompanying the Scheme Booklet is received before 4:00pm (EST) on Monday, January 22, 2024 at 4:00pm (EST) (being 5:00am (CST) on Tuesday, January 23, 2024 and 8:00am (AEST) on Tuesday, January 23, 2024), being 48 hours before the Scheme Meeting.

Scheme Booklet

Cenntro confirms that the Scheme Booklet was registered with the Australian Securities and Investments Commission on 14 December 2023 (AEST). A copy of the Scheme Booklet is contained within the Definitive Proxy Statement on Schedule 14A filed on December 15, 2023 and is available online at www.cenntroauto.com. A copy of the proxy form that will be sent to Cenntro Shareholders is appended to the Proxy Statement on Schedule 14A filed on December 15, 2023.

The Scheme Booklet will be sent to Cenntro Shareholders who have requested a hard copy on or before Friday, December 15, 2023.

Cenntro Shareholders who have elected to receive shareholder communications electronically will receive an email containing a link to an online portal where they may access the Scheme Booklet and a personalized proxy form. Cenntro Shareholders who have elected to receive shareholder communications by post will receive a printed copy of the Scheme Booklet and a personalized proxy form. Cenntro Shareholders who have not made an election regarding how they wish to receive shareholder communications will receive by post a notice card containing a link to an online portal where they can access the Scheme Booklet and a printed personalized proxy form.

Cenntro Shareholders should read the Scheme Booklet in its entirety before making a decision on whether or not to vote in favor of the Scheme.

Independent Expert's Report

The Scheme Booklet includes a copy of the independent expert’s report prepared by Lonergan Edwards & Associates Limited (the "Independent Expert"). The Independent Expert concluded the Scheme is in the best interests of Cenntro Shareholders, in the absence of a superior proposal. The Independent Expert’s conclusion should be read together in context with the full Independent Expert’s report and the Scheme Booklet.

Cenntro board recommendation

The board of directors of Cenntro unanimously recommend Cenntro Shareholders vote in favor of the Scheme, and each director of the Company intends to vote all of their shares of the Company in favor of the Scheme, in each case, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of Cenntro Shareholders.