Chijet Motor issues ordinary shares to holders of contingent value rights

Chijet Motor (CJET) Company announced that, it issued a total of 640,850 class A ordinary shares of par value to the holders of contingent value rights on record as of July 22, 2025 pro rata, based on their respective number of CVRs held. The record date for the Qualifying CVR Holders to receive such shares was July 22, 2025. As certain earnout milestones provided in the Business Combination Agreement entered into by the company on October 25, 2022, were not achieved for the calendar year ended December 31, 2024, two shareholders of the company, Euroamer Kaiwan Technology Company Limited and Chijet Holdings Limited, surrendered a total of 640,850 Ordinary Shares to the company for cancellation. Pursuant to the BCA, the Company shall issue the same number of Ordinary Shares as the Earnout Shares to be allocated among the Qualifying CVR Holders pro rata, based on their respective number of CVRs held. The total number of issued and outstanding CVRs is 1,300,706. Therefore, each CVR is entitled to 0.492694 Ordinary Shares.