The Board of Nexteer Automotive Group Limited approved the cessation of Mr. ZHAO, Guibin to serve as the Chief Executive Officer of the Company with effect from June 14, 2022, at its EGM held on June 14, 2022. Mr. Robin Zane MILAVEC, Executive Director, President, Chief Technology Officer and Chief Strategy Officer of the Company, will assume the responsibilities of the chief executive until a permanent replacement has been appointed.