ECARX Announces Settlement Of Its $50M Senior Convertible Note Maturing On October 30

Note issued to a U.S. based institutional investor (the "Investor") under the securities purchase agreement, dated October 30, 2025 between the Investor and the Company (the "Securities Purchase Agreement"), have matured on October 30, 2026 and that the Company has settled in full all amounts outstanding thereunder.

On the maturity date, the Note was repaid in full and cancelled in accordance with its terms, and no notes issued under the Securities Purchase Agreement remain outstanding. As previously announced, the Company and the Investor also entered into a limited waiver agreement, dated October 14, 2026 (the "Waiver Agreement"), under which the Investor irrevocably waived all of its rights to deliver any additional closing notice and to purchase, or to require the Company to issue and sell, any additional notes at any additional closing under the Securities Purchase Agreement. The Company has paid the US$10 million waiver consideration to the Investor in full. As a result, the Waiver Agreement has become effective in accordance with its terms and no further notes will be issued under the Securities Purchase Agreement.