Dada Nexus receives preliminary non-binding acquisition proposal

Dada Nexus (DADA) has received a preliminary non-binding proposal letter from JD.com to acquire all of the outstanding ordinary shares of the company, including the Ordinary Shares represented by the ADs of the company, for a proposed purchase price of $2.0 per ADS, or 50c per Ordinary Share, in cash. The proposed price represents a premium of approximately 42% to the closing price on the most recent trading day prior to the date of the Proposal Letter. A copy of the Proposal Letter is attached hereto as Exhibit A. The Board has formed a special committee to evaluate and consider the Proposed Transaction. The company has not made any decisions with respect to the Proposal Letter and the Proposed Transaction.