BYD's NEV Dominance

STATE OF CHINA'S AUTO INDUSTRY Recovery of sales momentum in March was fueled by heavy discounting (000' units) YoY Change 3,000 Monthly Retail Sales 2,786 China Vehicle Monthly Sales (Oct. 2021 Mar. 2023) - (%) 100 2,522 2,500 2,333 2,000 2,531 2,610 2,556 2,502 2,505 2,420 2,383 2,328 2,234 2,451 50 50 1,862 1,737 19.4% 1,500 -1.9% 1.1% -9.3% -9.0% 1,000 29.8% 32.5% 24.2% 26.3% 7.4% 1,976 1,649 13.8% 9.7% 0 1,181 -11.6% -12.5% -7.7% -8.3% -34.8% -50 500 -47.6% -100 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Comments "Hangover effect" from post-lockdown stimulus still weighs on ICE sales, which were relatively flat year-over-year New Energy Vehicles are still the main source of growth, even after the elimination of purchase subsidies Source: CAAM, Automobility analysis Automobility Ltd CO 6

View entire presentation