SGS assesses that NaaS reduces Carbon Emissions by 896,800 tons a year

BEIJING,Feb. 12,2022 -- It is commonly said that new energy vehicles (EV) promotes green energy and travel,so then just how much are emissions reduced by EVs,as compared to traditional internal combustion engine (ICE) vehicles? Recently,NaaS (the "Company"),one of China's leading new energy operations and technology providers,revealed the answer by enabling the transition from ICEs to EVs and facilitating the aforementioned emissions and carbon reduction,receiving recognition from the international testing agency SGS for the amount of emissions reduced in the process. According to SGS's "Assessment Report of Greenhouse Gas Emission Reductions on Alternative Traveling by NaaS Electric Vehicles" (the "SGS Assessment Report"),in 2021,NaaS,through the Company's cooperation with Kuaidian and other partners,provided charging services that reduced carbon emissions by 896,800 tons,based on emissions of 661,100 tons versus the 1,557,9000 tons that would have been emitted by traditional ICEs for the same distances travelled.

The SGS Assessment Report relied on the Clean Development Mechanism (CDM),the 2006 IPCC Guidelines for National Greenhouse Gas Inventories,and the China Certified Emission Reduction (CCER)'s related process and methodologies to make the assessment,and primarily focused on the greenhouse emissions related to EVs that used NaaS' partner Kuaidian's related charging services.

Recently,the global adoption of EVs has reached a breakthrough. In 2021,China's EV sales and penetration rate continues to grow rapidly month on month,and the market has reached a stage of explosive growth. According to statistics from the Public Security Bureau,at the end of 2021,the total number of EVs in China reached 7.84 million,representing 2.6% of all automobiles,and an increase of 59.25% year on year. According to the China Passenger Cars Association (CPCA)'s latest projections,total sales of new EVs is expected to exceed 6 million in 2022,representing a market penetration rate of approximately 22%. In addition,based on the Ouyang Team's analysis and estimates,China's new EV sales will reach between 17 million and 19 million by 2030. In terms of total number of EVs on the road,total EVs in China will reach approximately 100 million by 2030,nearly 200 million by 2035,and nearly 300 million by 2040.

Based on the expected increase in the number of EVs on the road in China,it can be anticipated that the trends driving the transition from ICEs to EVs will continue to strengthen,and bring with it an increasingly strong decarbonization effect. These trends also mean that the market for EV charging services in China have tremendous room for growth and potential for development. NaaS,as an enabler and strong supporter of EV adoption and the government's "Dual Carbon" goals,provides the charging infrastructure and services that enables green energy and travel. NaaS,through the Company's electric charging partners,reliable technology,and strong operational capabilities,will continue to contribute strongly to the decarbonization of transportation services.

As an EV charging operations and technology provider,NaaS services China's fast public charging network by providing software services,hardware and equipment,and integrated technical support,and is a preferred partner within the EV charging industry. NaaS aims to make EV charging more convenient,faster,and the experience better,and enable all members of the industry value chain to improve efficiency and effectiveness. The Company aims to raise the utilization rates of chargers as part of the structural adjustments in China's energy industry,and help realize "Carbon Neutrality" in the process.

SGS is an organization with over 140 years of history in testing,inspection and certification,and is headquartered in Switzerland. SGS is globally recognized for quality and trusted standards assessment. SGS has for six continuous years been included in the Dow Jones Sustainability Indexes,and for the past three years in the FTSE ESG index. SGS has over 96,000 employees globally in 2,600 related branch organizations and laboratories. In China,SGS' services already cover the apparel and shoe industry,electronics,agriculture,food and beverage,chemicals and petroleum,mining,environmental,transportation and e-commerce industries' upstream and downstream supply chain.

About NaaS

Established in 2019,NaaS is one of China's leading new energy operations and technology providers. NaaS is China's leading comprehensive EV charging service platform and is servicing China's #1 fast charger network with over 175,000 fast chargers. NaaS also offers hardware,software,and technology services and solutions to charger operators and works with all members of the EV charging value chain. NaaS aims to make EV charging easier,better,and more efficient for all stakeholders,and to promote and ensure decarbonization and carbon neutrality throughout the automotive value chain.

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