Completion of placing of new shares under general mandate

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.

This announcement appears for information purpose only and does not constitute an invitation or offer to acquire, purchase or subscribe for the securities of the Company.

科軒動力（控股）有限公司

(Incorporated in Bermuda with limited liability)

Reference is made to the announcements of Ev Dynamics (Holdings) Limited (the "Company") dated 10 November 2025 and 12 November 2025 (the "Announcements") in relation to, amongst other matters, the Placing under the General Mandate. Capitalised terms used in this announcement shall have the same meanings as defined in the Announcements unless otherwise stated.

The Board is pleased to announce that all the conditions precedents set out in the Placing Agreement have been fulfilled and the Placing was completed on 1 December 2025 in accordance with the terms and conditions of the Placing Agreement. An aggregate of 20,000,000 Placing Shares, representing approximately 6.31% of the issued share capital of the Company as enlarged by the allotment and issue of the Placing Shares as at the date of this announcement immediately after completion of the Placing, have been placed to not less than six Placees, at the Placing Price of HK$0.78 per Placing Share. The net proceeds from the Placing (after deducting the commission payable to the Placing Agent and other related expenses incurred in the Placing) are approximately HK$15.4 million. The Company intends to apply the net proceeds from the Placing as to (i) approximately HK$12.0 million as the development and expansion of the Group's new energy business, particularly the e-Mobility Solutions business; and (ii) approximately HK$3.4 million as the replenishment of the Group's general working capital.

To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, (i) the Placees and whose respective ultimate beneficial owner(s) are third parties independent of and not connected with the Company and its connected persons; and (ii) none of the Placees and their respective associates becomes a substantial shareholder (as defined in the Listing Rules) of the Company upon Completion.

The shareholding structure of the Company immediately before and after completion of the Placing, are as follows:

Note:

1. Total Honest Investment Limited is wholly owned by Mr. Yan Zhang Yan, the executive director of the Company.

2. Prosperity Investment Management Limited is wholly owned by Mr. Xu David Hua.

3. Entrust Limited is controlled as to 34% by Mr. Chan Tok Yu, 25% by Ms. Chan Hoi Ying (the chairman and the executive director of the Company), 25% by Mr. Chan Hin Yeung and 16% by Ms. Siu Kwan. Mr. Chan Tok Yu's interest is held by Ms. Siu Kwan as a trustee. Accordingly, Mr. Chan Tok Yu and Ms. Siu Kwan are deemed to be interested in the Shares in which Entrust Limited is interested by virtue of the SFO.

4. Faith Profit Holding Limited is wholly owned by Mr. Cheung Ngan.

5. The percentage figures have been subject to rounding adjustments. Any discrepancies between totals and sums of amounts listed herein are due to rounding adjustments.

By order of the Board

Chairman and Executive Director

Hong Kong, 1 December 2025

As at the date of this announcement, the Board comprise three executive Directors, namely Ms. Chan Hoi Ying, Mr. Yan Zhang Yan and Mr. Zeng Yan, and four independent non-executive Directors, namely Mr. Chan Francis Ping Kuen, Mr. Lee Kwok Leung, Dato' Tan Yee Boon and Ms. Chiang Siu Ling, Samantha.