Yutong Anti-commercial Bribery Statement

To all business regions, subsidiaries, branches, employees and cooperative units,

Yutong Bus's corporate vision is "becoming a world-leading public transportation solution provider and a mid-to-high-end bus brand for more users around the world". For a long time, while continuously improving its market share and brand position, the Company has always adhered to the core operation and management concept of "Employee-centered management and Customer-oriented operation", forming the values and corporate culture system of "Morality, Coordination, Innovation".

Facing the challenge of market competition, Yutong has always advocated and committed to cultivating core competitiveness through leading technology, advanced process, reliable quality and thoughtful service, and winning competition by creating the best customer experience. Yutong's tenacious growth is also inseparable from continuous reflection and self-innovation in compliance management. Yutong maintains high standards and establishes an effective anti-bribery system, with the aim of promoting a fair and clean business environment in collaboration with its cooperative units.

Bribery undermines public trust. Bribery presents a threat to both economic and social development, and impedes fairness in business and commercial dealings. Since 2011, the Company has emphasized to strengthen the working principle of "transparency and integrity" in sales work every year. With the establishment and operation of the State Committee of Supervisory of the People's Republic of China, the national political and legal environment has been continuously improved, creating a healthy competitive environment for enterprises. All employees, organizations acting on behalf of Yutong or cooperative units having business relations with Yutong must be clearly aware of and strictly abide by the applicable anti-bribery laws and regulations as well as the compliance obligations related to the Company's Regulations on Anti-Commercial Bribery Management. The Company hereby expressly declares as follows:

1. The Company's sales personnel win orders through proper customer relationship maintenance and consultant sales based on a deep understanding and accurate grasp of customer needs according to the requirements of the main line of business market.

2. The Company prohibits bribing the staff of the counterparty, organizations or individuals entrusted by the counterparty to handle relevant affairs, and organizations or individuals who can use their power or influence to affect transactions through property or other means to seek trading opportunities or competitive advantages.

In each business activity, all business regions, subsidiaries, branches, employees and cooperative units must act in strict accordance with the requirements and guidelines of the Company's Regulations on Anti-Commercial Bribery, firmly carry out management innovation, technological innovation, marketing innovation and service innovation to win customer satisfaction with sincerity and strength, thus achieving sustainable and healthy development. Any person who commits commercial bribery to Yutong employees, cooperative units or customers for the purpose of seeking trading opportunities or competitive advantages must be refused and reported to the Company.

This statement applies to Yutong Bus Co., Ltd., as well as all its directly or indirectly controlled subsidiaries and branches around the world.

Yutong Bus Co., Ltd.