Document:

EX-4.4

 Exhibit 4.4 

Execution Version 
 NIO INC. 

 
  

FIFTH AMENDED AND RESTATED 

SHAREHOLDERS’ AGREEMENT 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1.
	 	Definitions	  	 	5	 
			
	 2.
	 	Demand Registration	  	 	18	 
			
	 3.
	 	Piggyback Registrations	  	 	20	 
			
	 4.
	 	Registration Procedures	  	 	22	 
			
	 5.
	 	Registration-Related Indemnification	  	 	25	 
			
	 6.
	 	Additional Registration-Related Undertakings	  	 	27	 
			
	 7.
	 	Preemptive Right	  	 	31	 
			
	 8.
	 	Information and Inspection Rights	  	 	34	 
			
	 9.
	 	Corporate Governance	  	 	35	 
			
	 10.
	 	Protective Provisions	  	 	39	 
			
	 11.
	 	Drag-Along Rights	  	 	45	 
			
	 12.
	 	Additional Covenants	  	 	47	 
			
	 13.
	 	Miscellaneous	  	 	59	 

 SCHEDULES 
 Schedule
1: List of Investors 
 Schedule 2: Address for Notices 

EXHIBIT 
 Exhibit A: Form of Deed of Adherence 

 FIFTH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT 

THIS FIFTH AMENDED AND RESTATED SHAREHOLDERS AGREEMENT (this “Agreement”) is entered into on November 10, 2017, by and among: 

 

	(1)	 NIO INC. (formerly known as NEXTEV INC.), an exempted company duly incorporated and validly
existing under the Laws of the Cayman Islands (the “Company”); 

  

	(2)	 NIO NEXTEV LIMITED (formerly known as NEXTEV LIMITED), a limited company duly incorporated and
validly existing under the Laws of Hong Kong (the “HK Company”); 

  

	(3)	 XPT LIMITED, a limited company duly incorporated and validly existing under the Laws of Hong Kong (the
“XPT”); 

  

	(4)	 XPT TECHNOLOGY LIMITED, a limited company duly incorporated and validly existing under the Laws of Hong
Kong (the “XPT Technology”); 

  

	(5)	 XPT, INC., a company duly incorporated and validly existing under the Laws of the State of Delaware, the
United States of America (the “XPT US”) 

  

	(6)	 NIO CO., LTD. (formerly known as NEXTEV CO., LTD.)
(上海蔚来汽车有限公司), a wholly foreign owned enterprise duly incorporated and validly existing under the Laws of the PRC (“Shanghai
Nextev”); 

  

	(7)	 SHANGHAI XPT TECHNOLOGY CO., LTD.
(上海蔚兰动力科技有限公司), a wholly foreign owned enterprise duly incorporated and validly existing under the Laws of the PRC (the
“Shanghai Weilan”); 

  

	(8)	 XPT (JIANGSU) INVESTMENT CO., LTD. (formerly known as XPT INVESTMENT CO., LTD.) (蔚然(江苏)投资有限公司 ), a wholly foreign owned enterprise duly incorporated and validly existing under the Laws of the PRC (the “Jiangsu
Weiran”); 

  

	(9)	 XPT (NANJING) E-POWERTRAIN TECHNOLOGY CO., LTD. (蔚然(南京)动力科技有限公司 ), a limited liability company duly incorporated and validly existing
under the Laws of the PRC (“XPT Nanjing Technology”); 

  

	(10)	 XPT (NANJING) ENERGY STORAGE SYSTEM CO., LTD.
(蔚然(南京)储能技术有限公司), a limited liability company duly incorporated and validly
existing under the Laws of the PRC (“XPT Nanjing Energy”); 

  

	(11)	 NIO TECHNOLOGY CO., LTD.
(上海蔚来科技有限公司, formerly known as
上海赛睿迪新能源汽车有限公司), a limited liability company duly incorporated and validly existing under the Laws of the PRC
(“NIO Technology”); 

  
 -2- 

	(12)	 NEXTEV USER ENTERPRISE LIMITED, a limited company duly incorporated and validly existing under the Laws
of Hong Kong (“Nextev User”); 

  

	(13)	 SHANGHAI NIO SALES AND SERVICE CO., LTD. (formerly known as SHANGHAI AUTO DISTRIBUTION SERVICE CO.,
LTD.) (上海蔚来汽车销售服务有限公司), a limited liability company duly incorporated and
validly existing under the Laws of the PRC (“Shanghai Auto Distribution”); 

  

	(14)	 NEXTEV POWER EXPRESS LIMITED, a limited company duly incorporated and validly existing under the Laws of
Hong Kong (“Nextev Power”); 

  

	(15)	 NIO ENERGY INVESTMENT (HUBEI) CO., LTD. (formerly known as NEXTEV ENERGY INVESTMENT (HUBEI) CO.,
LTD.) (蔚来能源投资(湖北)有限公司), a limited liability company duly incorporated and
validly existing under the Laws of the PRC (“Hubei Investment”); 

  

	(16)	 SHANGHAI NIO ENERGY TECHNOLOGY CO., LTD. (formerly known as SHANGHAI NEXTEV ENERGY TECHNOLOGY CO.,
LTD.) (上海蔚来能源科技有限公司), a limited liability company duly incorporated and validly existing
under the Laws of the PRC (“Shanghai Energy”); 

  

	(17)	 WUHAN NIO ENERGY CO., LTD. (formerly known as WUHAN NEXTEV ENERGY CO., LTD.) (武汉蔚来能源有限公司), a limited liability company duly incorporated and validly existing under the Laws of the PRC (“Wuhan Energy”);

  

	(18)	 BEIJING LIBITE AUTO TECHNOLOGY CO., LTD.
(北京力比特汽车科技有限公司 ), a limited liability company incorporated under the Laws of the PRC
(“Beijing Libite”); 

  

	(19)	 XTRONICS (NANJING) AUTOMATIVE INTELLIGENT TECHNOLOGY CO. LTD.
(蔚隆 (南京 )汽车智能科技有限公司 ), a limited
liability company incorporated under the Laws of the PRC (“Nanjing Weilong”); 

  

	(20)	 NIO USA, INC. (formerly known as NEXTEV USA, INC.), a company duly incorporated and validly
existing under the Laws of the State of California, the United States of America (the “US Company”). 

  

	(21)	 NIO GMBH (formerly known as NEXTEV GMBH), a limited liability company duly incorporated and
validly existing under the Laws of Germany (the “German Company”); 

  

	(22)	 NIO NEXTEV (UK) LTD (formerly known as NEXTEV (UK) LIMITED), a private company limited by shares
duly incorporated and validly existing under the Laws of the United Kingdom (the “UK Company”); 

  

	(23)	 PRIME HUBS LIMITED, a business company with limited liability duly incorporated and validly existing
under the Laws of the British Virgin Islands (“Prime Hubs”); 

  
 -3- 

	(24)	 MR. LI BIN, a citizen of the PRC whose identification number is 110108197406221836 (the
“Founder”); 

  

	(25)	 Each of the Persons listed in Part A1 of Schedule 1 (List of Investors) hereto (collectively, the
“Series A-1 Investors” and each a “Series A-1 Investor”); 

 

	(26)	 Each of the Persons listed in Part A2 of Schedule 1 (List of Investors) hereto (collectively, the
“Series A-2 Investors” and each a “Series A-2 Investor”); 

 

	(27)	 Each of the Persons listed in Part A3 of Schedule 1 (List of Investors) hereto (collectively, the
“Series A-3 Investors” and each a “Series A-3 Investor”); 

 

	(28)	 Each of the Persons listed in Part B of Schedule 1 (List of Investors) hereto (collectively, the
“Series B Investors” and each a “Series B Investor”); 

  

	(29)	 Each of the Persons listed in Part C of Schedule 1 (List of Investors) hereto (collectively, the
“Series C Investors” and each a “Series C Investor”); and 

  

	(30)	 Each of the Persons listed in Part D of Schedule 1 (List of Investors) hereto (together with any
Additional Series D Investors participating in any applicable Additional Closings deemed as “Series D Investors” in accordance with Section 12.4, collectively, the “Series D Investors” and each a “Series D
Investor”). 

 Each of the parties listed above shall be referred to herein individually as a “Party” and
collectively as the “Parties.” 
 Capitalized terms used herein without definition shall have the meanings set forth in the Purchase
Agreement (as defined below). 
 RECITALS 
  

	(A)	 WHEREAS, each of the Series D Investors has agreed to purchase from the Company, and the Company
has agreed to sell to each Series D Investor, certain Series D Preferred Shares of the Company, on the term and conditions set forth in the Series D Preferred Share Purchase Agreement dated November 10, 2017 (as amended and restated and/or
supplemented from time to time, the “Purchase Agreement”) by and among the Company, the HK Company, XPT, XPT Technology, Shanghai Nextev, XPT US, Shanghai Weilan, Jiangsu Weiran, XPT Nanjing Technology, XPT Nanjing Energy, Nanjing
Weilong, NIO Technology, Nextev User, Shanghai Auto Distribution, Nextev Power, Hubei Investment, Shanghai Energy, Wuhan Energy, Beijing Libite, the US Company, the German Company, the UK Company, Prime Hubs, the Founder Vehicles and certain Series
D Investors. 

  

	(B)	 WHEREAS, the Purchase Agreement provide that it shall be a condition precedent to the
consummation of the transactions contemplated under the Purchase Agreement that the Parties have entered into this Agreement. 

  

	(C)	 WHEREAS, the Parties desire to enter into this Agreement and make the respective representations,
warranties, covenants and agreements set forth herein on the terms and conditions set forth herein. 

  
 -4- 

	(D)	 WHEREAS, a Fourth Amended and Restated Shareholders’ Agreement was entered into on
March 21, 2017 by and among the Company, the HK Company, XPT, XPT Technology, Shanghai Nextev, Shanghai Weilan, Jiangsu Weiran, NIO Technology, Beijing Libite, the US Company, the German Company, the UK Company, Prime Hubs, the Founder, the
Series A-1 Investors, the Series A-2 Investors, Series A-3 Investors, certain Series B Investors and certain Series C Investors
(together with a Deed of Adherence dated May 31, 2017 by and between the Company and Blissful Days Holdings Limited, a Deed of Adherence dated May 31, 2017 by and between the Company and Bluefuture Fund L.P., a deed of adherence dated
May 31, 2017 by and between the Company and Keen Eagle Capital Investment Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and Champion Elite Global Limited, a Deed of Adherence dated July 6, 2017 by and
between the Company and Tea Leaf Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and China Investment Asset Management Limited, a Deed of Adherence dated May 31, 2017 by and between the Company and Guangfa
Xinde Capital Management Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and HF Holdings Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and Ultimate Lenovo Limited, a Deed of
Adherence dated May 31, 2017 by and between the Company and China Oceanwide International Asset Management Limited, a Deed of Adherence dated April 24, 2017 by and between the Company and Anderson Investments Pte. Ltd., a Deed of Adherence
dated May 31, 2017 by and between the Company and UBS AG, London Branch, a Deed of Adherence dated April 24, 2017 by and between the Company and Cyber Tycoon Limited, and a Deed of Adherence dated April 24, 2017 by and between the
Company and Honor Best International Limited, the “Prior Shareholders Agreement”). The Parties agree that as of the Initial Closing Date, this Agreement shall supersede the Prior Shareholders Agreement in its entirety,
and the Prior Shareholders Agreement shall terminate and have no further force or effect. 

 WITNESSETH 

NOW, THEREFORE, in consideration of the foregoing recitals, the mutual promises hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties intending to be legally bound hereto hereby agree as follows: 
  

	1.	 DEFINITIONS 

  

	1.1	 The following terms shall have the meanings ascribed to them below: 

“Additional Closing” and “Additional Closing Date” shall have the meaning ascribed to them in the Purchase
Agreement. 
 “Additional Series D Investor” shall have the meaning ascribed to it in the Purchase Agreement. 

  
 -5- 

 “Affiliate” means, with respect to a Person, any other Person that,
directly or indirectly, Controls, is Controlled by or is under common Control with such Person (in the case of a Person being a natural person, the “Affiliate” shall include the immediate family members of such Person. For the purpose of
this Agreement, “immediate family members” shall mean parents, mother-in-law or
father-in-law, spouse, brother or sister, brother-in-law or sister-in-law, son-in-law or
daughter-in-law, and children, and any other individual to whom the Person provides material support). In the case of an Investor, if applicable, the term
“Affiliate” also includes (w) any shareholder of such Investor, (x) any of such shareholder’s or such Investor’s general partners, (y) the fund manager managing such shareholder or such Investor (and general
partners and officers thereof) and other funds managed by such fund manager, and (z) trusts controlled by or for the benefit of any such Person referred to in (w), (x) or (y). Notwithstanding anything to the contrary in this Agreement and any
other Series D Transaction Document, with respect to Sequoia or SCC, if applicable, the term “Affiliate” shall (x) only include a variety of entities within the Sequoia China Sector Group that are affiliated with Sequoia by ownership
or operational relationship and engaged in a broad range of activities relating to investing and securities trading; and (y) shall not include any entity that is (i) outside of the Sequoia China Sector Group or (ii) primarily engaged
in investment and trading in the secondary securities market; for purposes of the foregoing, the “Sequoia China Sector Group” means all Sequoia Capital entities (whether currently existing or formed in the
future) that are principally focused on companies located in, or with connections to, the PRC. Notwithstanding anything to the contrary in this Agreement and any other Series D Transaction Document, with respect to Temasek, if applicable, the term
“Affiliate” shall only include (a) Temasek Holdings (Private) Limited (“Temasek Holdings”); and (b) Temasek Holdings’ direct and indirect wholly owned companies whose boards of directors or equivalent
governing bodies comprise solely nominees or employees of (i) Temasek Holdings; (ii) Temasek Pte. Ltd. (being a wholly owned subsidiary of Temasek Holdings); and/or (iii) wholly owned direct and indirect subsidiaries of Temasek Pte.
Ltd. Notwithstanding anything to the contrary in this Agreement and any other Series D Transaction Document, with respect to Tencent, if applicable, the term “Affiliate” shall only include (a) Tencent Holdings Limited
(“Tencent Holdings”); and (b) any Person Controlled by Tencent Holdings. For the avoidance of doubt, any Investor and any holder of Preferred Shares shall not be deemed to be an Affiliate of any Group Company. 

“Applicable Securities Laws” means (i) with respect to any offering of securities in the United States, or any related
act or omission within that jurisdiction, the securities laws of the United States, including the Exchange Act and the Securities Act, and any applicable Law of any state of the United States, and (ii) with respect to any offering of securities
in any jurisdiction other than the United States, or any related act or omission in that jurisdiction, the applicable Laws of that jurisdiction. 

“Benchmark Shares” means, with respect to a holder of Preferred Shares, the number of Preferred Shares held by such holder of
Preferred Shares as of the Initial Closing Date (as converted or reclassified from time to time in accordance with the Memorandum and Articles and this Agreement). 

“Board” or “Board of Directors” means the board of directors of the Company. 

“Business” means the business of the Group Companies, which is research and development, design, manufacturing, and sales of
new energy automobiles (electric cars) and/or the components and accessory products related thereto, the provision of related services, the establishment and operation of charging networks, and other business as may be approved by the Board or the
Shareholders of the Company in accordance with the Memorandum and Articles and this Agreement from time to time. 

  
 -6- 

 “Business Day” means any day that is not a Saturday, Sunday, legal holiday
or other day on which commercial banks are required or authorized by law to be closed in the Cayman Islands, the PRC or Hong Kong. 

“Cause” means, with respect to the Founder or any of the Key Employees, (i) such person’s failure, in the reasonable
judgment of the Board, to substantially perform his or her assigned duties or responsibilities (other than a failure resulting from his or her disability) after written notice thereof from the Board describing the person’s failure to perform
such duties or responsibilities (provided that such person (if he serves as a Director) and any director appointed by the Founder or his Affiliate (if the person with alleged Cause is the Founder) shall abstain from all voting in the Board meetings
or resolutions solely in relation to the judgment of his or her own failure to perform his or her assigned duties or responsibilities); (ii) engaging in knowing and intentional illegal conduct that is or was injurious to any Group Company;
(iii) violation of a PRC law, or a law or regulation of any other jurisdiction, which violation was or is reasonably likely to be injurious to any Group Company; (iv) material breach of any confidentiality agreement, invention assignment
agreement or any other service or employment agreements between the person and the Company or its Affiliates; (v) being convicted of, or entering a plea of nolo contendere to, a felony or committing any act of moral turpitude, dishonesty or
fraud against, or the misappropriation of material property belonging to, any Group Company; (vi) material failure to comply with written policies or rules of the Company or its Affiliates; or (vii) gross negligence or wilful misconduct
detrimental to any Group Company’s interests. 
 “CFC” means a controlled foreign corporation as defined in the Code.

 “Charter Documents” means, with respect to a particular legal entity, the articles of incorporation, certificate of
incorporation, formation or registration (including, if applicable, certificates of change of name), memorandum of association, articles of association, bylaws, articles of organization, certificate of formation, limited liability company agreement,
trust deed, trust instrument, operating agreement, joint venture agreement, business license, or similar or other constitutive, governing, or charter documents, or equivalent documents, of such entity, as amended, supplemented or restated from time
to time. 
 “Closing” shall have the meaning ascribed to it in the Purchase Agreement. 

“Code” means the United States Internal Revenue Code of 1986, as amended. 

“Commission” means (i) with respect to any offering of securities in the United States, the Securities and Exchange
Commission of the United States or any other federal agency at the time administering the Securities Act, and (ii) with respect to any offering of securities in a jurisdiction other than the United States, the regulatory body of the
jurisdiction with authority to supervise and regulate the offering or sale of securities in that jurisdiction. 

  
 -7- 

 “Competing Business” means the business of design, manufacture and sale of
electric automobiles (电动汽车). 

“Confidential Information” means the terms and conditions of the Series D Transaction Documents, all exhibits and schedules
attached thereto, and information relating to the negotiations therefor. 
 “Consent” means any consent, approval,
authorization, release, waiver, permit, grant, franchise, concession, agreement, license, exemption or order of, registration, certificate, declaration or filing with, or report or notice to, any Person, including any Governmental Authority. 

“Control” of a given Person means the power or authority, whether exercised or not, to direct the business, management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided, that such power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or
power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a majority of the board of directors of such Person. The
terms “Controlled” and “Controlling” have meanings correlative to the foregoing. 
 “Conversion
Price” means the results by dividing the Initial Subscription Price Per Share by the then applicable conversion price per applicable Preferred Share. 

“Control Documents” shall have the meaning ascribed to it in the Purchase Agreement. 

“Director” means a director serving on the Board. 

“Director Indemnification Agreement” shall mean the director indemnification agreement, the form of which is approved by the
Board from time to time, which is entered into by the Company and each of the Investor Directors. 
 “Deed of Adherence”
means the deed of adherence substantially in the form attached hereto as Exhibit A. 
 “Equity Securities” means, with
respect to any Person that is a legal entity, any and all shares of capital stock, membership interests, profits interests, ownership interests, equity interests, registered capital, and other equity securities of such Person, and any right,
warrant, option, call, commitment, note, conversion privilege, preemptive right or other right to acquire any of the foregoing, or security convertible into, exchangeable or exercisable for any of the foregoing, or any Contract providing for the
acquisition of any of the foregoing. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended.

 “Form F-3” means Form F-3 promulgated by
the Commission under the Securities Act or any successor form or substantially similar form then in effect. 

  
 -8- 

 “Form S-3” means Form S-3 promulgated by the Commission under the Securities Act or any successor form or substantially similar form then in effect. 

“Founder Vehicles” means, collectively, mobike Global (as defined in Schedule 1) and Originalwish (as defined in Schedule 1).

 “Governmental Authority” means any government of any nation or any federation, province or state or any other political
subdivision thereof, any entity, authority or body exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including any government authority, agency, department, board, commission or
instrumentality of any country, or any political subdivision thereof, any court, tribunal or arbitrator, and any self-regulatory organization. 

“Governmental Order” means any applicable order, ruling, decision, verdict, decree, writ, subpoena, mandate, precept, command,
directive, consent, approval, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Authority. 

“Group Company” means each of the Company and its Subsidiaries (including the HK Company, XPT, XPT Technology, XPT US,
Shanghai Nextev, Shanghai Weilan, Jiangsu Weiran, XPT Nanjing Technology, XPT Nanjing Energy, Nanjing Weilong, NIO Technology, Nextev User, Shanghai Auto Distribution, Nextev Power, Hubei Investment, Shanghai Energy, Wuhan Energy Beijing Libite, US
Company, German Company, UK Company, other Subsidiaries set out on Schedule III of the Purchase Agreement, and other Subsidiaries to be established from time to time), and “Group” or “Group Companies” refers to all
of Group Companies collectively. 
 “Holders” means the holders of Registrable Securities who are parties to this Agreement
from time to time, and their permitted transferees that become parties to this Agreement from time to time. 
 “Hong Kong”
means the Hong Kong Special Administrative Region, the People’s Republic of China. 
 “Initial Closing” and
“Initial Closing Date” shall have the meaning ascribed to them in the Purchase Agreement. 
 “Initiating
Holders” means, with respect to a request duly made under Section 2.1 (Registration Other Than on Form F-3 or Form S-3) or Section 2.2
(Registration on Form F-3 or Form S-3) to Register any Registrable Securities, the Holders initiating such request. 

“Investors” means collectively the Series A-1 Investors, Series A-2 Investors, Series A-3 Investors, Series B Investors, Series C Investors and Series D Investors, and “Investor” means each or any of them. 

“Investor Restrictive Investment Cutoff Date” means (1) with respect to each of Hillhouse NEV Holdings Limited and
Shunwei, March 18, 2017, (2) with respect to Tencent, May 6, 2017, (3) with respect to Smart Group, June 23, 2017, (4) with respect to each of Sequoia and Joy Capital, September 12, 2017, (5) with respect to Padmasree,
March 10, 2018, (6) with respect to each Founder Vehicle, March 18, 2018, and (8) with respect to Energy, May 6, 2018. 

  
 -9- 

 “Investor Restrictive Investment Period” means, with respect to each Series
A Investor, the period of time until the Investor Restrictive Investment Cutoff Date applicable to such Series A Investor. For the avoidance of doubt, the Investor Restrictive Investment Period shall also be applicable to the Affiliates of such
Series A Investor (of Investment Affiliates of such Investor in case of Hillhouse NEV Holdings Limited or Shunwei). 
 “IPO”
means an initial public offering of Shares on an internationally recognized stock exchange. 
 “Law” or
“Laws” means any and all provisions of any applicable constitution, treaty, statute, law, regulation, ordinance, code, rule, or rule of common law, any governmental approval, or other governmental restriction or any similar form of
decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority, in each case as amended, and any and all applicable Governmental Orders. 

“Lien” means any claim, charge, easement, encumbrance, lease, covenant, security interest, lien, option, pledge, mortgage,
rights of others, or restriction (whether on voting, sale, transfer, disposition or otherwise), whether imposed by contract, understanding, law, equity or otherwise. 

“Loan and Security Agreement” means the Loan and Security Agreement dated March 10, 2016 by and between the Company and
Padmasree, pursuant to which the Company provided a loan to Padmasree, and Padmasree pledged to the Company and granted to the Company a first-priority lien on 7,509,933 Series A-3 Preferred Shares held by
Padmasree. 
 “Majority Ordinary Holders” means the holders of at least 75% of the voting power of the then outstanding
Ordinary Shares. 
 “Majority Preferred Holders” means the holders of at least 75% of the voting power of the then
outstanding Preferred Shares (voting together as a single class and calculated on an as-converted basis). 

“Material Group Subsidiaries” means collectively HK Company, XPT, Nextev User, Nextev Power, the US Company, the German
Company, NIO Technology, Shanghai Auto Distribution, Hubei Investment, Shanghai Weilan, Jiangsu Weiran and Shanghai Nextev. 

“Memorandum and Articles” means the Tenth Amended and Restated Memorandum of Association of the Company and the Ninth Amended
and Restated Articles of Association of the Company, adopted in accordance with applicable Law on or prior to the Initial Closing (as amended and restated from time to time in accordance with the articles thereto and the provisions of this
Agreement), which shall be in the form and substance satisfactory to the Investors. 

  
 -10- 

 “Ordinary Holders” means Prime Hubs and any Person who will directly or
indirectly hold any Ordinary Shares of the Company (other than the Investors), and each an “Ordinary Holder”. 

“Ordinary Share Equivalents” means any Equity Security which is by its terms convertible into or exchangeable or exercisable
for Ordinary Shares or other share capital of the Company, including without limitation, the Preferred Shares. 
 “Ordinary
Shares” means the Company’s ordinary shares, par value US$0.00025 per share. 
 “Person” means any individual,
natural person, corporation, partnership, limited partnership, proprietorship, association, limited liability company, firm, trust, estate or other enterprise or entity. 

“PFIC” means passive foreign investment company as defined in the Code. 

“PLN” means a note instrument issued by UBS or its Affiliates on or about the date of this Agreement that transfers, or has
the effect of transferring, to any Person, in whole or in part, all or any of the economic benefits, interests, risks or other consequences of ownership of the Series C Preferred Shares (or Ordinary Shares into which the Series C Preferred Shares
convert), including any agreements in respect thereof, the form of which has been previously provided to the Company for its review. 

“PLN Beneficiary” means an investor in or purchaser of (or bona fide prospective investor in or purchaser of) a PLN, including
where such investor or purchaser invests in or purchases the PLN by way of PLN Transfer. 
 PLN Transfer means a transfer, assignment,
novation, sale or other disposition (in all cases whether voluntary or involuntary, direct or indirect) of a PLN by a PLN Beneficiary to any other Person (whether in whole or in part). 

“PRC” means the People’s Republic of China, but solely for the purposes of this Agreement, excluding Hong Kong Special
Administrative Region of the PRC, Macau Special Administrative Region of the PRC and Taiwan. 
 “PRC Accounting Standards”
means the China Accounting Standards (CAS 2006) issued by the PRC Ministry of Finance on February 15, 2006, as supplemented by relevant rules and guidelines issued from time to time, and other applicable PRC accounting regulations. 

“Preferred Shares” means, collectively, the Series A-1 Preferred Shares, the Series A-2 Preferred Shares, the Series A-3 Preferred Shares, the Series B Preferred Shares, the Series C Preferred shares and/or the Series D Preferred Shares. 

“Public Official” means any executive, official, or employee of a Governmental Authority, political party or member of a
political party, political candidate; executive, employee or officer of a public international organization; or director, officer or employee or agent of a wholly owned or partially state-owned or controlled enterprise, including a PRC state-owned
or controlled enterprise. 

  
 -11- 

 “Qualified IPO” means a firm commitment underwritten registered initial
public offering by the Company of its Ordinary Shares (or securities of the Company representing the Ordinary Shares) on Hong Kong Stock Exchange, Nasdaq, New York Stock Exchange or other internationally recognized stock exchange, as approved by the
Majority Preferred Holders, pursuant to a registration statement (or any analogous document, if applicable) that is filed with and declared effective in accordance with the securities laws of relevant jurisdiction, at a public offering price (prior
to customary underwriters’ commissions and expenses) that values the Company at least US$6 billion on a fully diluted basis immediately prior to the completion of such offering, with gross proceeds to the Company in excess of
US$1 billion, or otherwise approved by the Majority Preferred Holders. 
 “Registrable Securities” means (i) the
Ordinary Shares issued or issuable upon conversion of the Preferred Shares, (ii) any Ordinary Shares of the Company issued as a dividend or other distribution with respect to, in exchange for, or in replacement of, the shares referenced in
(i) herein, and (iii) any Ordinary Shares owned or hereafter acquired by the Investors; excluding in all cases, however, any of the foregoing sold by a Person in a transaction other than an assignment pursuant to Section 13.4
(Assignments and Transfers; No Third Party Beneficiaries). For purposes of this Agreement, Registrable Securities shall cease to be Registrable Securities when such Registrable Securities have been disposed of pursuant to an effective
Registration Statement. 
 “Registration” means a registration effected by preparing and filing a Registration Statement and
the declaration or ordering of the effectiveness of that Registration Statement; and the terms “Register” and “Registered” have meanings concomitant with the foregoing. 

“Registration Statement” means a registration statement prepared on Form F-1, F-3, S-1, or S-3 under the Securities Act (including, without limitation, Rule 415 under the Securities Act), or on any comparable form
in connection with registration in a jurisdiction other than the United States. 
 “Right of First Refusal & Co-Sale Agreement” means the Fifth Amended and Restated Right of First Refusal & Co-Sale Agreement entered into by and among the Company, Prime Hubs,
Founder, the Series A-1 Investors, the Series A-2 Investors, the Series A-3 Investors, the Series B Investors, the Series C
Investors and the Series D Investors on or prior to the Initial Closing, as amended and restated from time to time. 
 “RMB”
means the lawful currency of the PRC. 
 “Securities Act” means the United States Securities Act of 1933, as amended. 

“Series A Investors” means collectively, the Series A-1 Investors, the Series A-2 Investors, and the Series A-3 Investors. 
 “Series A-1 Preferred Shares” means the series A-1 preferred shares of the Company, par value US$0.00025 per share, with the rights and privileges as set forth in this
Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

  
 -12- 

 “Series A-2 Preferred Shares” means
the series A-2 preferred shares of the Company, par value US$0.00025 per share, with the rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First
Refusal & Co-Sale Agreement. 
 “Series A-3
Preferred Shares” means the series A-3 preferred shares of the Company, par value US$0.00025 per share, with the rights and privileges as set forth in this Agreement, the Memorandum and Articles, and
the Right of First Refusal & Co-Sale Agreement. 
 “Series A Preferred
Shares” means collectively, the Series A-1 Preferred Shares, the Series A-2 Preferred Shares and/or the Series A-3
Preferred Shares. 
 “Series B Preferred Shares” means the series B preferred shares of the Company, par value US$0.00025
per share, with the rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

“Series C Preferred Shares” means the series C preferred shares of the Company, par value US$0.00025 per share, with the
rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

“Series D Preferred Shares” means the series D preferred shares of the Company, par value US$0.00025 per share, with the
rights and privileges as set forth in this Agreement, the Memorandum and Articles, and the Right of First Refusal & Co-Sale Agreement. 

“Series D Transaction Documents” has the meaning set forth in the Purchase Agreement. 

“Shareholders” means the holders of the Ordinary Shares, the holders of the Series A Preferred Shares, the holders of the
Series B Preferred Shares, the holders of the Series C Preferred Shares and the holders of the Series D Preferred Shares, and any Person who will hold any shares of the Company from time to time, and each a “Shareholder.” 

“Shares” means the Ordinary Shares, the Series A Preferred Shares, the Series B Preferred Shares, the Series C Preferred
Shares, the Series D Preferred Shares and other outstanding shares in the capital of the Company. 
 “Stock Incentive Plans”
means (i) the 2015 Stock Incentive Plan and the 2016 Stock Incentive Plan of the Company, which set forth the rules for the grant of stock options, restricted shares and other awards to the employees, directors and consultants of the Group
Companies (both U.S. citizens or non-U.S. citizens), (ii) the 2015 Stock Incentive Plan U.S. CEO Subplan, which sets forth the rules for the grant of stock options, restricted shares and other awards to the
chief executive officer of the US Company, and (iii) any other stock option plans or equity incentive plans as may be adopted by the Company in accordance with the Memorandum and Articles and this Agreement. 

  
 -13- 

 “Subsidiary” means, with respect to any given Person, any other Person that
is Controlled directly or indirectly by such given Person. 
 “Tencent ” means, collectively, Image Frame, Mount Putuo,
Morespark and any other Affiliate of Tencent, to the extent that it holds any Preferred Shares and/or Ordinary Shares. 
 “Tencent
Consortium” means, collectively, Tencent and Hammer Capital. 
 “Trade Sale” means any the following events: 

 

	 	(1)	 any consolidation, merger, amalgamation, or other business combination or corporate reorganization of the
Company (and/or other Group Company(ies) collectively operating majority of the Business, collectively, the “Major Group Companies”) with or into any Person (collectively, the “Restructuring Event”),
resulting in a change in ownership or control of the Company and/or the Major Group Companies in which the Shareholders holding securities with voting power in the Company and/or the Major Group Companies (as the case may be) immediately before such
Restructuring Event own and control shares and securities representing less than fifty percent (50%) of the total combined voting power of the outstanding share capital of the surviving business entity immediately after such Restructuring Event,
except that the Company’s ultimate shareholding structure immediately after such Restructuring Event is the same as that immediately before such Restructuring Event; or 

 

	 	(2)	 a sale, transfer, exclusive license, lease or other disposition of all or substantially all of the assets
(including Intellectual Property) of the Group Companies (or any series of related transactions resulting in such sale, transfer, exclusive license, lease or other disposition of all or substantially all of the assets of the Group Companies) except
that such transferee, licensee or lessee’s ultimate shareholding structure immediately after such event is the same as that of the Company immediately before such event; or 

 

	 	(3)	 a sale, transfer or other disposition of a majority of the issued and outstanding share capital or securities
possessing more than fifty percent (50%) of the total combined voting power of the Company and/or of the Major Group Companies, except that such transferee’s ultimate shareholding structure immediately after such event is the same as that of
the Company immediately before such event. 

 “U.S.” means the United States of America. 

“United States Person” means United States person as defined in Section 7701(a)(30) of the Code. 

“US GAAP” means U.S. generally accepted accounting principles. 

  
 -14- 

 “Warrantor” means Company, the HK Company, XPT, XPT Technology, XPT US, the
US Company, the German Company, the UK Company, Shanghai Nextev, Shanghai Weilan, Jiangsu Weiran, XPT Nanjing Technology, XPT Nanjing Energy, Nanjing Weilong, NIO Technology, Nextev User, Shanghai Auto Distribution, Nextev Power, Hubei Investment,
Shanghai Energy, Wuhan Energy, Beijing Libite, the Founder Vehicles and Prime Hubs, collectively, the “Warrantors.” 
  

	1.2	 Other Defined Terms 

The following terms shall have the meanings defined for such terms in the Sections set forth below: 

 

			
	Additional Number	  	Section 7.4 (ii)
	Agreement	  	Preamble
	Approved Sale	  	Section 11.1
	Arbitration Notice	  	Section 13.6 (i)
	Baidu Capital	  	Schedule I
	Beijing Libite	  	Preamble
	Bluestone	  	Schedule I
	Bright Sky	  	Schedule I
	ChinaEquity	  	Schedule I
	Company	  	Preamble
	Company Opportunity	  	Section 12.15 (iii)
	Corporate Opportunity	  	Section 12.15 (iii)
	Direct US Investor	  	Section 12.7 (iii)
	Disclosing Party	  	Section 12.9 (iii)
	Dispute	  	Section 13.6 (i)
	Dissenting Member	  	Section 11.4
	Energy	  	Schedule I
	Exclusive Option Period	  	Section 7.6
	Exempted Securities	  	Section 7.3
	Exempt Registrations	  	Section 3.4
	First Participation Notice	  	Section 7.4 (i)
	Founder	  	Preamble
	Four Vote	  	Section 9.1(i)
	German Company	  	Preamble
	Golden Brick	  	Schedule I
	Grandfield	  	Schedule I
	Haixia	  	Schedule I
	Haitong	  	Schedule I
	Hammer Capital	  	Schedule I
	HK Company	  	Preamble
	HKIAC	  	Section 13.6 (ii)
	HKIAC Rules	  	Section 13.6 (ii)
	Hillhouse	  	Schedule I
	Honor Best	  	Schedule I
	Hubei Investment	  	Preamble
	IDG	  	Schedule I
	Jiangsu Weiran	  	Preamble
	Image Frame	  	Schedule I

  
 -15- 

			
	Indirect US Investor	  	Section 12.7 (iii)
	Investor/ Investors	  	Preamble
	Investor Directors	  	Section 9.1(i)
	Investment Affiliates	  	Section 12.15
	Joy Capital	  	Schedule I
	Lenovo	  	Schedule I
	Long Winner	  	Schedule I
	Magic Stone	  	Schedule I
	mobike Global	  	Schedule I
	Mount Putuo	  	Schedule I
	Morespark	  	Schedule I
	Nanjing Weilong	  	Preamble
	New Financing	  	Section 7.6
	New Financing Notice	  	Section 7.6
	New Margin Capital	  	Schedule I
	New Securities	  	Section 7.3
	Nextev User	  	Preamble
	Nextev Power	  	Preamble
	NIO Technology	  	Preamble
	Ordinary Director	  	Section 9.1(i)
	Orient Hontai	  	Schedule I
	Offer Price	  	Section 11.1
	Originalwish	  	Schedule I
	Oversubscription Participants	  	Section 7.4 (ii)
	Padmasree	  	Schedule I
	Party/ Parties	  	Preamble
	Palace	  	Schedule I
	PFIC Annual Information Statement	  	Section 12.7(iii)
	PFIC Shareholder	  	Section 12.7 (iii)
	Preemptive Notice	  	Section 7.4 (i)
	Preemptive Right	  	Section 7.1
	Preemptive Rights Holder	  	Section 7.1
	Prior Shareholders Agreement	  	Recitals
	Pro Rata Share	  	Section 7.2
	Proposed Cooperation	  	Section 12.16
	Prime Hubs	  	Preamble
	Purchase Agreement	  	Recitals
	Remaining Members	  	Section 11.2
	Second Participation Notice	  	Section 7.4 (ii)
	Second Participation Period	  	Section 7.4 (ii)
	Sequoia	  	Schedule I
	SCC	  	Schedule I
	Series A-1 Investor / Series A-1 Investors	  	Preamble
	Series A-2 Investor / Series A-2 Investors	  	Preamble
	Series A-3 Investor / Series A-3 Investors	  	Preamble
	Series B Investor / Series B Investors	  	Preamble
	Series C Investor / Series C Investors	  	Preamble
	Series D Investor / Series D Investors	  	Preamble
	Smart Group	  	Schedule I

  
 -16- 

			
	Shanghai Auto Distribution	  	Preamble
	Shanghai Energy	  	Preamble
	Shanghai Nextev	  	Preamble
	Shanghai Weilan	  	Preamble
	Shunwei	  	Schedule I
	Special Cooperation Right	  	Section 12.16
	Subsidiary Board	  	Section 9.1 (ii)
	Temasek	  	Schedule I
	Tencent Director	  	Section 9.1 (i)
	Tencent Shareholding Threshold	  	Section 9.1 (i)
	Total Prestige	  	Schedule I
	TPG	  	Schedule I
	Violation	  	Section 5.1 (i)
	UBS	  	Section 13.1(i)(1)
	UK Company	  	Preamble
	US Company	  	Preamble
	West City	  	Schedule I
	WP	  	Schedule I
	Wuhan Energy	  	Preamble
	XPT	  	Preamble
	XPT Nanjing Energy	  	Preamble
	XPT Nanjing Technology	  	Preamble
	XPT Technology	  	Preamble
	Zhide	  	Schedule I

  

	1.3	 Interpretation 

For all purposes of this Agreement, except as otherwise expressly herein provided, (i) the terms defined in this Section 1 shall have
the meanings assigned to them in this Section 1 and include the plural as well as the singular, (ii) all accounting terms not otherwise defined herein have the meanings assigned under the US GAAP, (iii) all references in this
Agreement to designated “Sections” and other subdivisions are to the designated Sections and other subdivisions of the body of this Agreement, (iv) pronouns of either gender or neuter shall include, as appropriate, the other pronoun
forms, (v) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section or other subdivision, (vi) all references in this
Agreement to designated Schedules, Exhibits and Appendices are to the Schedules, Exhibits and Appendices attached to this Agreement, (vii) references to this Agreement, any other Series D Transaction Documents and any other document shall be
construed as references to such document as the same may be amended, supplemented or novated from time to time, (viii) the term “or” is not exclusive, (ix) the term “including” will be deemed to be followed by “, but
not limited to,” (x) the terms “shall”, “will”, and “agrees” are mandatory, and the term “may” is permissive, (xi) the phrase “directly or indirectly” means directly, or indirectly through
one or more intermediate Persons or through contractual or other arrangements, and “direct or indirect” has the correlative meaning, (xii) the expression “Investor” and “Investors” shall, unless the context
prohibits, include its respective successors, permitted transferees and assigns and any Persons deriving title under it, (xiii) the term “voting power” refers to the number of votes attributable to the Shares (on an as-converted basis) in accordance with the terms of the Memorandum and Articles, (xiv) the headings used in this Agreement are used for convenience only and are not to be considered in construing or
interpreting this Agreement, (xv) references to laws include any such law modifying, re-enacting, extending or made pursuant to the same or which is modified,
re-enacted, or extended by the same or pursuant to which the same is made, and (xvi) all references to dollars or to “US$” are to currency of the U.S. and all references to RMB are to currency
of the PRC (and each shall be deemed to include reference to the equivalent amount in other currencies). 

  
 -17- 

	2.	 DEMAND REGISTRATION 

 

	2.1	 Registration Other Than on Form F-3 or Form S-3 

 Subject to the terms of this Agreement, at any time or from time to time after
the earlier of (i) July 21, 2021, or (ii) expiry of one hundred eighty (180) days following the effective date of a registration statement for an IPO, Holders holding ten percent (10%) or more of the voting power of the then
outstanding Registrable Securities held by all Holders are entitled to request in writing that the Company effect a Registration for any or all of Initiating Holder’s Registrable Securities. Upon receipt of such a request, the Company shall
(x) promptly give written notice of the proposed Registration to all other Holders and (y) as soon as practicable, use its reasonable best efforts to cause the Registrable Securities specified in the request, together with any Registrable
Securities of any Holder who requests in writing to join such Registration within fifteen (15) days after the Company’s delivery of written notice, to be Registered and/or qualified for sale and distribution in such jurisdiction as the
Initiating Holders may request. The Company shall not be obligated to effect more than two (2) Registrations pursuant to this Section 2.1(Registration Other Than on Form F-3 or Form S-3) hereof that have been declared and ordered effective; provided that if the sale of all of the Registrable Securities sought to be included pursuant to this Section 2.1 (Registration Other
Than on Form F-3 or Form S-3) hereof is not consummated for any reason other than due to the action or inaction of the Holders including Registrable Securities in
such Registration, such Registration shall not be deemed to constitute one of the Registration rights granted pursuant to Section 2.1 hereof. 
  

	2.2	 Registration on Form F-3 or Form
S-3 

 The Company shall use its best efforts to qualify for registration on
Form F-3 or Form S-3. Subject to the terms of this Agreement, if the Company qualifies for registration on Form F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than the United States), any Holder is entitled to request the Company to file, in any jurisdiction in which the Company has had a registered
underwritten public offering, unlimited number of Registration Statements on Form F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than
the United States), so long as such registration offerings are in excess of US$5,000,000, including without limitation any registration statements filed under the Securities Act providing for the registration of, and the sale on a continuous or a
delayed basis by the Holders of, all of the Registrable Securities pursuant to Rule 415 under the Securities Act and/or any similar rule that may be adopted by the Commission. Upon receipt of such a request, the Company shall (i) promptly give
written notice of the proposed Registration to all other Holders and (ii) as soon as practicable, cause the Registrable Securities specified in the request, together with any Registrable Securities of any Holder who requests in writing to join
such Registration within fifteen (15) days after the Company’s delivery of written notice, to be Registered and qualified for sale and distribution in such jurisdiction. 

  
 -18- 

	2.3	 Right of Deferral 

 

	 	(i)	 The Company shall not be obligated to Register or qualify Registrable Securities pursuant to this
Section 2: 

  

	 	(1)	 during the period starting with the date of filing by the Company of, and ending six (6) months following
the effective date of any Registration Statement pertaining to Ordinary Shares of the Company other than an Exempt Registration; provided that the Holders are entitled to join such Registration in accordance with Section 3 (Piggyback
Registrations); 

  

	 	(2)	 in any jurisdiction in which the Company would be required to execute a general consent to service of process
in effecting such Registration or qualification, unless the Company is already subject to service of process in such jurisdiction; or 

  

	 	(3)	 with respect to the registration on Form F-3 or Form S-3 (or any comparable form for Registration in a jurisdiction other than the United States), if Form F-3 is not available for such offering by the Holders.

  

	 	(ii)	 If, after receiving a request from Holders pursuant to Section 2.1(Registration Other Than on
Form F-3 or Form S-3) or Section 2.2 (Registration on Form F-3 or Form
S-3) hereof, the Company furnishes to the Holders a certificate signed by the chief executive officer of the Company stating that, in the good faith judgment of the Board, it would be materially
detrimental to the Company or its members for a Registration Statement to be filed in the near future, then the Company shall have the right to defer such filing for a period during which such filing would be materially detrimental, provided
that the Company may not utilize this right (x) for a Registration under Section 2.1 (Registration Other Than on Form F-3 or Form S-3) for more than
ninety (90) days and (y) for a Registration under Section 2.2 (Registration on Form F-3 or Form S-3) for more than sixty (60) days, on
any one occasion or more than once during any twelve (12) month period; provided further that the Company may not Register any other of its Equity Securities during such period (except for Exempt Registrations).

  
 -19- 

	2.4	 Underwritten Offerings 

If, in connection with a request to Register Registrable Securities under Section 2.1 (Registration Other Than on Form F-3 or Form S-3) or Section 2.2 (Registration on Form F-3 or Form S-3),
the Initiating Holders seek to distribute such Registrable Securities in an underwritten offering, they shall so advise the Company as a part of the request, and the Company shall include such information in the written notice to the other
Holders described in Section 2.1 (Registration Other Than on Form F-3 or Form S-3) and Section 2.2 (Registration on Form F-3 or Form S-3). In such event, the right of any Holder to include its Registrable Securities in such Registration shall be conditioned upon such Holder’s
participation in such underwritten offering and the inclusion of such Holder’s Registrable Securities in the underwritten offering (unless otherwise mutually agreed by the Initiating Holders and such Holder) to the extent provided herein. All
Holders proposing to distribute their securities through such underwritten offering shall enter into an underwriting agreement in customary form with the underwriter or underwriters of internationally recognized standing selected for such
underwritten offering by the Company and reasonably acceptable to the holders of a majority of the voting power of all Registrable Securities proposed to be included in such Registration. Notwithstanding any other provision of this Agreement, if the
managing underwriter advises the Company that marketing factors (including without limitation the aggregate number of securities requested to be Registered, the general condition of the market, and the status of the Persons proposing to sell
securities pursuant to the Registration) require a limitation of the number of Registrable Securities to be underwritten in a Registration pursuant to Section 2.1 (Registration Other Than on Form F-3
or Form S-3) or Section 2.2 (Registration on Form F-3 or Form S-3), the underwriters may exclude up to
seventy-five percent (75%) of the Registrable Securities requested to be Registered but only after first excluding all other Equity Securities from the Registration and underwritten offering, provided that the number of shares to be
included in the Registration on behalf of the non-excluded Holders is allocated among all Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities requested
by such Holders to be included. If any Holder disapproves the terms of any underwriting, the Holder may elect to withdraw therefrom by written notice to the Company and the underwriters delivered at least ten (10) days prior to the effective
date of the Registration Statement. Any Registrable Securities excluded or withdrawn from such underwritten offering shall be withdrawn from the Registration. To facilitate the allocation of shares in accordance with the above provisions, the
Company or the underwriters may round the number of shares allocated to a Holder to the nearest one hundred (100) shares. 
  

	3.	 PIGGYBACK REGISTRATIONS 

 

	3.1	 Registration of the Company’s Securities 

Subject to the terms of this Agreement, if the Company proposes to Register for its own account any of its Equity Securities, or for the
account of any holder (other than a Holder) of Equity Securities any of such holder’s Equity Securities, in connection with the public offering of such securities (except for Exempt Registrations), the Company shall promptly give each Holder
written notice of such Registration and, upon the written request of any Holder given within fifteen (15) days after delivery of such notice, the Company shall include in such Registration any Registrable Securities thereby requested to be
Registered by such Holder. If a Holder decides not to include all or any of its Registrable Securities in such Registration by the Company, such Holder shall nevertheless continue to have the right to include any Registrable Securities in any
subsequent Registration Statement or Registration Statements as may be filed by the Company, all upon the terms and conditions set forth herein. 

  
 -20- 

	3.2	 Right to Terminate Registration 

The Company shall have the right to terminate or withdraw any Registration initiated by it under Section 3.1 prior to the effectiveness of
such Registration, whether or not any Holder has elected to participate therein. The expenses of such withdrawn Registration shall be borne by the Company in accordance with Section 4.3. 

 

	3.3	 Underwriting Requirements 

 

	 	(i)	 In connection with any offering involving an underwriting of the Company’s Equity Securities, the Company
shall not be required to Register the Registrable Securities of a Holder under this Section 3 (Piggyback Registrations) unless such Holder’s Registrable Securities are included in the underwritten offering and such
Holder enters into an underwriting agreement in customary form with the underwriter or underwriters of internationally recognized standing selected by the Company and setting forth such terms for the underwritten offering as have been agreed upon
between the Company and the underwriters. In the event the underwriters advise Holders seeking Registration of Registrable Securities pursuant to this Section 3 in writing that market factors (including the aggregate number of Registrable
Securities requested to be Registered, the general condition of the market, and the status of the Persons proposing to sell securities pursuant to the Registration) require a limitation of the number of Registrable Securities to be underwritten, the
underwriters may exclude up to seventy-five percent (75%) of the Registrable Securities requested to be Registered but only after first excluding all other Equity Securities (except for securities sold for the account of the Company) from the
Registration and underwriting, provided that the number of shares to be included in the Registration on behalf of the non-excluded Holders is allocated among all Holders in proportion, as nearly as
practicable, to the respective amounts of Registrable Securities requested by such Holders to be included. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares
allocated to a Holder to the nearest one hundred (100) shares. 

  

	 	(ii)	 If any Holder disapproves the terms of any underwriting, the Holder may elect to withdraw therefrom by written
notice to the Company and the underwriters delivered at least ten (10) days prior to the effective date of the Registration Statement. Any Registrable Securities excluded or withdrawn from the underwritten offering shall be withdrawn from the
Registration. 

  

	3.4	 Exempt Registrations 

The Company shall have no obligation to Register any Registrable Securities under this Section 3 in connection with a Registration by the
Company (i) relating solely to the sale of securities to participants in a share incentive plan of the Company, or (ii) relating to a corporate reorganization or other transaction under Rule 145 of the Securities Act (or comparable
provision under the Laws of another jurisdiction, as applicable) (collectively, “Exempt Registrations”). 

  
 -21- 

	4.	 REGISTRATION PROCEDURES 

 

	4.1	 Registration Procedures and Obligations 

Whenever required under this Agreement to effect the Registration of any Registrable Securities held by the Holders, the Company shall, as
expeditiously as reasonably possible: 
  

	 	(i)	 Prepare and file with the Commission a Registration Statement with respect to those Registrable Securities and
use its reasonable best efforts to cause that Registration Statement to become effective, and, upon the request of the Holders holding a majority in voting power of the Registrable Securities Registered thereunder, keep the Registration Statement
effective until the distribution thereunder has been completed; 

  

	 	(ii)	 Prepare and file with the Commission amendments and supplements to that Registration Statement and the
prospectus used in connection with the Registration Statement as may be necessary to comply with the provisions of Applicable Securities Laws with respect to the disposition of all securities covered by the Registration Statement;

  

	 	(iii)	 Furnish to the Holders the number of copies of a prospectus, including a preliminary prospectus, required by
Applicable Securities Laws, and any other documents as they may reasonably request in order to facilitate the disposition of Registrable Securities owned by them; 

 

	 	(iv)	 Use its reasonable best efforts to Register and qualify the securities covered by the Registration Statement
under the securities Laws of any jurisdiction, as reasonably requested by the Holders, provided, that the Company shall not be required to qualify to do business or file a general consent to service of process in any such jurisdictions;

  

	 	(v)	 In the event of any underwritten public offering, enter into and perform its obligations under an underwriting
agreement, in customary form, with the managing underwriter(s) of the offering; 

  

	 	(vi)	 Promptly notify each Holder of Registrable Securities covered by the Registration Statement at any time when a
prospectus relating thereto is required to be delivered under Applicable Securities Laws of (a) the issuance of any stop order by the Commission, or (b) the happening of any event or the existence of any condition as a result of which any
prospectus included in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the
light of the circumstances under which they were made, or if in the opinion of counsel for the Company it is necessary to supplement or amend such prospectus to comply with law, and at the request of any such Holder promptly prepare and furnish to
such Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances under which they were made or such prospectus, as supplemented or amended, shall
comply with law; 

  
 -22- 

	 	(vii)	 Furnish, at the request of any Holder requesting Registration of Registrable Securities pursuant to this
Agreement, on the date that such Registrable Securities are delivered for sale in connection with a Registration pursuant to this Agreement, (A) an opinion, dated the date of the sale, of the counsel representing the Company for the purposes of
the Registration, in form and substance as is customarily given to underwriters in an underwritten public offering; and (B) comfort letters dated as of (x) the effective date of the registration statement covering such Registrable
Securities, and (y) the closing date of the offering, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten
public offering, addressed to the underwriters; 

  

	 	(viii)	 Otherwise comply with all applicable rules and regulations of the Commission to the extent applicable to the
applicable registration statement and use its reasonable best efforts to make generally available to its security holders (or otherwise provide in accordance with Section 11(a) of the Securities Act) an earnings statement satisfying the
provisions of Section 11(a) of the Securities Act, no later than forty-five (45) days after the end of a twelve (12) month period (or ninety (90) days, if such period is a fiscal year) beginning with the first month of the
Company’s first fiscal quarter commencing after the effective date of such registration statement, which statement shall cover such twelve (12) month period, subject to any proper and necessary extensions; 

 

	 	(ix)	 Not, without the written consent of the holders of at least two thirds of voting power of the then outstanding
Registrable Securities, make any offer relating to the Securities that would constitute a “free writing prospectus,” as defined in Rule 405 promulgated under the Securities Act; 

 

	 	(x)	 Provide a transfer agent and registrar for all Registrable Securities Registered pursuant to the Registration
Statement and, where applicable, a number assigned by the Committee on Uniform Securities Identification Procedures for all those Registrable Securities, in each case not later than the effective date of the Registration; and 

 

	 	(xi)	 Take all reasonable action necessary to list the Registrable Securities on the primary exchange on which the
Company’s securities are then traded or, in connection with a Qualified IPO, the primary exchange on which the Company’s securities will be traded. 

  

	 	(xii)	 Permit any Holder which, in such Holder’s sole and exclusive judgment, might be deemed to be an
underwriter or a “controlling person” (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) of the Company, to participate in the preparation of the Registration Statement, and to require the
insertion therein of language, furnished to the Company in writing, which in the reasonable judgment of such Holder and its counsel should be included. 

  
 -23- 

	4.2	 Information from Holder 

It shall be a condition precedent to the obligations of the Company to take any action pursuant to Section 2 (Demand Registration)
and Section 3 (Piggyback Registrations) hereof with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable Securities held by it, and
the intended method of disposition of such securities as shall be required to effect the Registration of such Holder’s Registrable Securities. 
  

	4.3	 Expenses of Registration 

All expenses, other than the underwriting discounts and selling commissions applicable to the sale of Registrable Securities pursuant to this
Agreement (which shall be borne by the Holders requesting Registration on a pro rata basis in proportion to their respective numbers of Registrable Securities sold in such Registration), incurred in connection with Registrations, filings or
qualifications pursuant to this Agreement, including (without limitation) all Registration, filing and qualification fees, printers’ and accounting fees, fees and disbursements of counsel for the Company and fees and disbursement of counsels
for the selling Holders, shall be borne by the Company. The Company shall not, however, be required to pay for any expenses of any Registration proceeding begun pursuant to Section 2.1 (Registration Other Than on Form F-3 or Form S-3) or Section 2.2 (Registration on Form F-3 or Form S-3) of this
Agreement if the Registration request is subsequently withdrawn at the request of the Holders holding a majority of the voting power of the Registrable Securities requested to be Registered by all Holder in such Registration (in which case all
participating Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be thereby Registered in the withdrawn Registration) unless the Holders of at least two thirds
( 2⁄3) of the voting power of the Registrable Securities then outstanding agree that such registration constitutes the use by the Holders of one
(1) demand registration pursuant to Section 2.1 (Registration Other Than on Form F-3 or Form S-3) (in which case such registration shall also
constitute the use by all Holders of Registrable Securities of one (1) such demand registration); provided, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business or
prospects of the Company from that known to the Holders at the time of their request and have withdrawn the request with reasonable promptness following disclosure by the Company of such material adverse change, then the Holders shall not be
required to pay any of such expenses and the Company shall pay any and all such expenses. 

  
 -24- 

	5.	 REGISTRATION-RELATED INDEMNIFICATION. 

 

	5.1	 Company Indemnity 

 

	 	(i)	 To the maximum extent permitted by Law, the Company will indemnify and hold harmless each Holder, such
Holder’s partners, officers, directors, shareholders, members, and legal counsel, any underwriter (as defined in the Securities Act) and each Person, if any, who controls (as defined in the Securities Act) such Holder or underwriter, against
any losses, claims, damages or liabilities (joint or several) to which they may become subject under Laws which are applicable to the Company and relate to action or inaction required of the Company in connection with any Registration,
qualification, or compliance, insofar as such losses, claims, damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (each a “Violation”): (a)
any untrue statement or alleged untrue statement of a material fact contained in such Registration Statement (unless Holder is actually aware of and consent to the making of such untrue statement or alleged untrue statement), on the effective date
thereof (including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto), (b) the omission or alleged omission to state in the Registration Statement, on the effective date thereof (including any
preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto), a material fact required to be stated therein or necessary to make the statements therein not misleading, or (c) any violation or alleged
violation by the Company of Applicable Securities Laws, or any rule or regulation promulgated under Applicable Securities Laws. The Company will reimburse, as incurred, each such Holder, underwriter or controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action. 

  

	5.2	 Holder Indemnity 

 

	 	(i)	 To the maximum extent permitted by Law, each selling Holder that has included Registrable Securities in a
Registration will, severally and not jointly, indemnify and hold harmless the Company, its directors and officers, any other Holder selling securities in connection with such Registration and each Person, if any, who controls (within the meaning of
the Securities Act) the Company, such underwriter or other Holder, against any losses, claims, damages or liabilities (joint or several) to which any of the foregoing persons may become subject, under Applicable Securities Laws, or any rule or
regulation promulgated under Applicable Securities Laws, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the extent (and only to the extent) that
such Violation occurs solely in reliance upon and in conformity with written information furnished by such Holder for use in connection with such Registration; and each such Holder will reimburse, as incurred, any Person intended to be indemnified
pursuant to this Section 5.2 (Holder Indemnity), for any legal or other expenses reasonably incurred by such Person in connection with investigating or defending any such loss, claim, damage, liability or action. No
Holder’s liability under this Section 5.2 (Holder Indemnity) (when combined with any amounts paid by such Holder pursuant to Section 5.4 (Contribution)) shall exceed the net proceeds actually received by
such Holder from the offering of securities made in connection with that Registration. 

  
 -25- 

	 	(ii)	 The indemnity contained in this Section 5.2 (Holder Indemnity) shall not apply to amounts paid in
settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Holder (which consent shall not be unreasonably withheld or delayed). 

 

	 	(iii)	 The indemnity contained in this Section 5.2 (Holder Indemnity) shall be in addition to any
liability the selling Holder may otherwise have. 

  

	5.3	 Notice of Indemnification Claim 

Promptly after receipt by an indemnified party under Section 5.1 (Company Indemnity) or Section 5.2 (Holder
Indemnity) of notice of the commencement of any action (including any governmental action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under Section 5.1 (Company Indemnity)
or Section 5.2 (Holder Indemnity), deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires,
jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the indemnifying parties. An indemnified party (together with all other indemnified parties that may be represented
without conflict by one counsel) shall have the right to retain one separate counsel, with the reasonably incurred fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the counsel retained by the
indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying
party within a reasonable time of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve such indemnifying party, to the extent so prejudiced, of any liability to the indemnified party under this
Section 5, but the omission to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 5. No indemnifying party, in the defense of
any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or the plaintiff
to such indemnified party of a release from all liability in respect to such claim or litigation. 
  

	5.4	 Contribution 

If any indemnification provided for in Section 5.1(Company Indemnity) or Section 5.2 (Holder Indemnity) is held
by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall
contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and of
the indemnified party, on the other, in connection with the statements or omissions that resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations. The relative fault of the indemnifying party
and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying
party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case: (A) no Holder will be
required to contribute any amount (after combined with any amounts paid by such Holder pursuant to Section 5.2 (Holder Indemnity)) in excess of the net proceeds to such Holder from the sale of all such Registrable Securities offered and
sold by such Holder pursuant to such registration statement; and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person or
entity who was not guilty of such fraudulent misrepresentation. 

  
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	5.5	 Underwriting Agreement 

To the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with
the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 
  

	5.6	 Survival 

The obligations of the Company and Holders under this Section 5 shall survive the completion of any offering of Registrable Securities in
a Registration Statement under this Agreement, regardless of the expiration of any statutes of limitation or extensions of such statutes. 
  

	6.	 ADDITIONAL REGISTRATION-RELATED UNDERTAKINGS 

 

	6.1	 Reports under the Exchange Act 

With a view to making available to the Holders the benefits of Rule 144 promulgated under the Securities Act and any comparable provision of
any Applicable Securities Laws that may at any time permit a Holder to sell securities of the Company to the public without Registration or pursuant to a Registration on Form F-3 or Form S-3 (or any comparable form in a jurisdiction other than the United States), the Company agrees to: 
  

	 	(i)	 make and keep public information available, as those terms are understood and defined in Rule 144 (or
comparable provision, if any, under Applicable Securities Laws in any jurisdiction where the Company’s securities are listed), at all times following 90 days after the effective date of the first Registration under the Securities Act filed by
the Company for an offering of its securities to the general public; 

  

	 	(ii)	 file with the Commission in a timely manner all reports and other documents required of the Company under all
Applicable Securities Laws; and 

  
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	 	(iii)	 at any time following ninety (90) days after the effective date of the first Registration under the
Securities Act filed by the Company for an offering of its securities to the general public by the Company, promptly furnish to any Holder holding Registrable Securities, upon request (a) a written statement by the Company that it has complied
with the reporting requirements of all Applicable Securities Laws at any time after it has become subject to such reporting requirements or, at any time after so qualified, that it qualifies as a registrant whose securities may be resold pursuant to
Form F-3 or Form S-3 (or any form comparable thereto under Applicable Securities Laws of any jurisdiction where the Company’s securities are listed), (b) a copy of
the most recent annual or quarterly report of the Company and such other reports and documents as filed by the Company with the Commission, and (c) such other information as may be reasonably requested in availing any Holder of any rule or
regulation of the Commission, that permits the selling of any such securities without Registration or pursuant to Form F-3 or Form S-3 (or any form comparable thereto
under Applicable Securities Laws of any jurisdiction where the Company’s Securities are listed). 

  

	6.2	 Limitations on Subsequent Registration Rights 

From and after the date of this Agreement, the Company shall not, without the written consent of holders of at least at seventy-five percent
(75%) of the voting power of the then outstanding Registrable Securities held by all Holders (calculated on an as-converted to Ordinary Share basis), enter into any agreement with any holder or prospective
holder of any Equity Securities of the Company that would allow such holder or prospective holder (i) to include such Equity Securities in any Registration filed under Section 5.2 (Demand Registration) or Section 5.3
(Piggyback Registrations), (ii) to demand Registration of their Equity Securities, or (iii) cause the Company to include such Equity Securities in any Registration filed under Section 5.2 (Demand Registration)
or Section 5.3 (Piggyback Registrations) hereof on a basis pari passu with or more favorable to such holder or prospective holder than is provided to the Holders of Registrable Securities. 

 

	6.3	 “Market Stand-Off” Agreement 

Each holder of Registrable Securities agrees, if so required by the managing underwriter(s) and to the extent necessary for a successful IPO,
that it will not during the period commencing on the date of the final prospectus relating to the Company’s IPO and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty
(180) days from the date of such final prospectus) (i) lend, offer, pledge, hypothecate, hedge, sell, make any short sale of, loan, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Equity Securities of the Company owned at the time of the Qualified IPO (other than those included in such offering), or (ii) enter into
any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such Equity Securities, whether any such transaction described in clause (i) or (ii) above is to be settled by
delivery of Equity Securities of the Company or such other securities, in cash or otherwise; provided that (w) the forgoing provisions of this Section 6.3 shall be subject to any exceptions that any Holder and the applicable
underwriter may agree on, (x) the foregoing provisions of this Section 6.3 shall not apply to the sale of any securities of the Company to an underwriter pursuant to any underwriting agreement, and to the extent permitted by the applicable
Laws and the general requirements of the managing underwriter(s), shall not be applicable to any Holder unless all directors, officers and all other holders of at least one percent (1%) of the outstanding share capital of the Company (calculated on
an as-converted to Ordinary Share basis) must be bound by restrictions at least as restrictive as those applicable to any such Holder pursuant to this Section 6.3, (y) to the extent permitted by the
applicable Laws and the general requirements of the managing underwriter(s), this Section 6.3 shall not apply to a Holder to the extent that any other Person subject to substantially similar restrictions is released in whole or in part, and
(z) the lockup agreements shall permit a Holder to transfer their Registrable Securities to their respective Affiliates so long as the transferees enter into the same lockup agreement. The underwriters in connection with the Company’s IPO
are intended third party beneficiaries of this Section 6.3 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. In order to enforce the foregoing covenant, the Company may place
restrictive legends on the certificates and impose stop-transfer instructions with respect to the Registrable Securities of each shareholder (and the shares or securities of every other person subject to the foregoing restriction) until the end of
such period. 

  
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	6.4	 IPO Participation Right 

Subject to applicable law and regulations, each Investor shall have the right to purchase or direct any of its Affiliates to purchase, at its
option, at the final price per share (net of underwriting discounts and commissions) set forth in the Company’s final prospectus with respect to an IPO, up to the number of the Ordinary Shares of the Company offered in the IPO that enables the
Investor to maintain, in the aggregate, its percentage ownership interest in the Company immediately prior to the consummation of the IPO (calculated on a fully diluted and as converted basis). 

 

	6.5	 IPO Sale Right 

If any Equity Securities of the Company are offered in an underwritten public offering (whether or not a Qualified IPO) for the account of any
shareholder of the Company, each Investor shall have the right to include a pro rata number of shares in the offering on terms and conditions no less favourable to such Investor than to any other selling shareholder(s), provided that the aggregate
number of the Equity Securities of the Company to be offered by all the selling shareholders in an underwritten public offering shall not exceed 20% of the total number of the Equity Securities of the Company available for public subscription or
placing under such underwritten public offering. 
  

	6.6	 Termination of Registration Rights 

The registration rights set forth in Section 2 (Demand Registration) or Section 3 (Piggyback Registrations) of this
Agreement shall terminate on the earlier of (i) the date that is ten (10) years from the date of closing of a Qualified IPO (ii) with respect to any Holder, the date on which such Holder may sell without registration, all of such
Holder’s Registrable Securities under Rule 144 of the Securities Act in any ninety (90)-day period. 

  
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	6.7	 Exercise of Ordinary Share Equivalents 

Notwithstanding anything to the contrary provided in this Agreement, the Company shall have no obligation to Register Registrable Securities
which, if constituting Ordinary Share Equivalents, have not been exercised, converted or exchanged, as applicable, for Ordinary Shares as of the effective date of the applicable Registration Statement, but the Company shall cooperate and facilitate
any such exercise, conversion or exchange as requested by the applicable Holder. 
  

	6.8	 Intent 

The terms of Section 2 through 6 are drafted primarily in contemplation of an offering of securities in the U.S. The parties recognize,
however, the possibility that securities may be qualified or registered for offering to the public in a jurisdiction other than the U.S. where registration rights have significance or that the Company might effect an offering in the U.S. in the form
of American Depositary Receipts or American Depositary Shares. Accordingly: 
  

	 	(i)	 it is their intention that, whenever this Agreement refers to a Law, form, process or institution of the U.S.
but the parties wish to effectuate qualification or registration in a different jurisdiction where registration rights have significance, reference in this Agreement to the Laws or institutions of the United States shall be read as referring,
mutatis mutandis, to the comparable Laws or institutions of the jurisdiction in question; and 

  

	 	(ii)	 it is agreed that the Company will not undertake any listing of American Depositary Receipts, American
Depositary Shares or any other security derivative of the Ordinary Shares unless arrangements have been made reasonably satisfactory to the Majority Preferred Holders (voting together as one class on an
as-converted basis) to ensure that the spirit and intent of this Agreement will be realized and that the Company is committed to take such actions as are necessary such that the Holders will enjoy rights
corresponding to the rights hereunder to sell their Registrable Securities in a public offering in the U.S. as if the Company had listed Ordinary Shares in lieu of such derivative securities. 

 

	6.9	 Assignment of Registration Rights 

The registration rights of a Holder under Section 2 to 6 hereof may be assigned to any person acquiring Registrable Securities; provided
that in either case no party may be assigned any of the foregoing rights unless the Company is given written notice by the assigning party stating the name and address of the assignee and identifying the securities of the Company as to which the
rights in question are being assigned; and provided further, that any such assignee shall receive such assigned rights subject to all the terms and conditions of this Agreement, including without limitation the provisions of this Section 6.9.

  
 -30- 

	7.	 PREEMPTIVE RIGHT 

 

	7.1	 General 

The Company hereby grants to each holder of Preferred Shares (the “Preemptive Rights Holder”) the right of first
refusal to purchase such Preemptive Rights Holder’s Pro Rata Share (as defined below) (and any oversubscription, as provided below), of all (or any part) of any New Securities (as defined below) that the Company may from time to time
issue after the date of this Agreement (the “Preemptive Right”). 
  

	7.2	 Pro Rata Share 

A Preemptive Rights Holder’s “Pro Rata Share” for purposes of the Preemptive Rights is the ratio of (a) the number
of Ordinary Shares (including Preferred Shares on an as-converted basis and any Ordinary Shares issued to or acquired by such Preemptive Rights Holder) held by such Preemptive Rights Holder, to (b) the
total number of Ordinary Shares (including Preferred Shares on an as-converted basis and any Ordinary Shares issued to or acquired by all Preemptive Rights Holders) then held by all Preemptive Rights Holders
immediately prior to the issuance of New Securities giving rise to the Preemptive Rights. 
  

	7.3	 New Securities 

For purposes hereof, “New Securities” shall mean any Equity Securities of the Company issued after the date hereof, except for
the following Equity Securities (the “Exempted Securities”): 
  

	 	(i)	 Ordinary Shares (and/or options or warrants therefore) (including any of such Shares which are repurchased)
issued to officers, directors, employees and consultants of the Group Companies pursuant to the Stock Incentive Plans approved in accordance with the Memorandum and Articles and this Agreement; 

 

	 	(ii)	 any Equity Securities issued pursuant to the Purchase Agreement and any Ordinary Shares issued upon the
conversion of the Preferred Shares authorized under the Memorandum and Articles; 

  

	 	(iii)	 any Equity Securities issued upon the exercise of any option of the Company issued prior to the Initial
Closing; 

  

	 	(iv)	 any Equity Securities issued pursuant to the transactions with strategic partners as approved by the Majority
Preferred Holders and/or the Board in accordance with this Agreement and the Memorandum and Articles, and if such strategic partner is any of the Preferred Holders or any of their respective Affiliates, such Preferred Holder and the director(s)
appointed by such Preferred Holder, as applicable, shall abstain from all voting in the general meetings, Board meetings or resolutions in relation to the transactions described under this Section 7.3(iv); 

  
 -31- 

	 	(v)	 any Equity Securities issued pursuant to transactions with financial institutions or lessors in connection with
loans, credit arrangements, equipment financings or similar transactions, provided that such transactions have been approved by the Majority Preferred Holders and/or the Board (if applicable) in accordance with this Agreement and the Memorandum and
Articles, and if such financial institution or lessor is any of the Preferred Holders or any of their respective Affiliates, such Preferred Holder and the director(s) appointed by such Preferred Holder, as applicable, shall abstain from all voting
in the general meetings, Board meetings or resolutions in relation to the transactions described under this Section 7.3(v); 

  

	 	(vi)	 any Equity Securities issued in connection with any share split, share dividend, reclassification or other
similar events in which all Preemptive Rights Holders are entitled to participate on a pro rata basis; 

  

	 	(vii)	 any Equity Securities issued pursuant to the acquisition of another corporation or entity by the Company by
consolidation, merger, purchase of assets, or other reorganization in which the Company acquires, in a single transaction or a series of related transactions, all or substantially all assets of such other corporation or entity, or fifty percent
(50%) or more of the equity ownership or voting power of such other corporation or entity, provided such acquisition has been approved by the Majority Preferred Holders and the Board in accordance with this Agreement and the Memorandum and Articles,
and if such other corporation or entity is any of the Shareholders or its respective Affiliates, such Shareholder and the director(s) appointed by such Shareholder shall abstain from all voting in the general meetings, Board meetings or resolutions
in relation to the issuance under this Section 7.3 (vii); and 

  

	 	(viii)	 any Equity Securities issued pursuant to a Qualified IPO. 

 

	7.4	 Procedures 

  

	 	(i)	 First Participation Notice 

Subject to the terms and provisions of Section 7.6 (Next Round Financing) hereof, in the event that the Company proposes to
undertake an issuance of New Securities (in a single transaction or a series of related transactions), it shall give to each Preemptive Rights Holder written notice of its intention to issue New Securities (the “First Participation
Notice”), describing the amount and type of New Securities, the price and the general terms upon which the Company proposes to issue such New Securities. Each Preemptive Rights Holder shall have thirty (30) Business Days from the date
of receipt of any such First Participation Notice to agree in writing to purchase up to such Preemptive Rights Holder’s Pro Rata Share of such New Securities for the price and upon the terms and conditions specified in the First Participation
Notice by giving written notice (the “Preemptive Notice”) to the Company and stating therein the quantity of New Securities to be purchased (not to exceed such Preemptive Rights Holder’s Pro Rata Share). If any Preemptive
Rights Holder fails to so respond in writing within such thirty (30) Business Day period to purchase all or any part of such Preemptive Rights Holder’s Pro Rata Share of an offering of New Securities, then such Preemptive Rights Holder
shall forfeit the right hereunder to purchase that part of its Pro Rata Share of such New Securities that it did not agree to purchase, but shall not be deemed to forfeit any right with respect to any other issuance of New Securities. 

  
 -32- 

	 	(ii)	 Second Participation Notice; Oversubscription 

If any Preemptive Rights Holder fails or declines to exercise any portion of its Preemptive Rights in accordance with subsection
(i) above, the Company shall promptly give notice (the “Second Participation Notice”) to other Preemptive Rights Holders who exercised in full their Preemptive Rights (the “Oversubscription Participants”) in
accordance with subsection (i) above. Each Oversubscription Participant shall have ten (10) Business Days from the date of the Second Participation Notice (the “Second Participation Period”) to notify the Company of its
desire to purchase more than its Pro Rata Share of the New Securities, stating the number of the additional New Securities it proposes to buy (the “Additional Number”). Such notice may be made by telephone if confirmed in writing
within five (5) Business Days. If, as a result thereof, such oversubscription exceeds the total number of the remaining New Securities available for purchase, each Oversubscription Participant will be cut back by the Company with respect to its
oversubscription to such number of remaining New Securities equal to the lesser of (x) the Additional Number and (y) the product obtained by multiplying (i) the number of the remaining New Securities available for subscription by
(ii) a fraction, the numerator of which is the number of Ordinary Shares (including Preferred Shares on an as-converted basis and any Ordinary Shares issued to or acquired by such Oversubscription
Participant) held by such Oversubscription Participant and the denominator of which is the total number of Ordinary Shares (including Preferred Shares on an as-converted basis and any Ordinary Shares issued to
or acquired by all Oversubscription Participants) held by all the Oversubscription Participants. 
  

	7.5	 Failure to Exercise 

Upon the expiration of the Second Participation Period, or in the event no Preemptive Rights Holder exercises the Preemptive Rights within
thirty (30) Business Days following the issuance of the First Participation Notice, the Company shall have ninety (90) days thereafter to complete the sale of the New Securities described in the First Participation Notice with respect to
which the Preemptive Rights hereunder were not exercised at the same or higher price and upon non-price terms not more favorable to the purchasers thereof than specified in the First Participation Notice. In
the event that the Company has not issued and sold such New Securities within such ninety (90) days period, then the Company shall not thereafter issue or sell any New Securities without again first offering such New Securities to the
Preemptive Rights Holders pursuant to this Section 7. 

  
 -33- 

	7.6	 Next Round Financing 

Without prejudice to any other terms and provisions of this Section 7, in the event that the Company proposes to solicit or initiate for
sale of any New Securities of the Company for the purpose of next round of financing (the “New Financing”) to any Person after the date of this Agreement, the Company shall give each Investor the written notice of its intention to
undertake the New Financing (the “New Financing Notice”). Upon receiving the New Financing Notice, the Investors and the Company shall discuss and determine all factors of such New Financing, including but not limited
to the types of financing, the amount of investment, the price and other general terms. The Investors shall have an exclusive option for a period of four (4) weeks following receipt of the New Financing Notice (the “Exclusive Option
Period”) to elect to purchase, or appoint their Affiliate(s) to purchase, collectively up to all of the New Securities offered for sale in the New Financing. In case and to the extent the Investors do not collectively exercise
their exclusive option hereunder within the Exclusive Option Period to purchase up to all of the New Securities, the Company may proceed to solicit, initiate or participate in any discussion or negotiation with any third parties for the sale of the
remaining New Securities offered for sale in the New Financing, provided that each Investor shall be entitled to exercise its rights under the Section 7.1 to 7.5 hereunder, anti-dilution adjustment and other rights and privileges under this
Agreement and the Memorandum and Articles exercisable in connection with the New Financing. 
  

	8.	 INFORMATION AND INSPECTION RIGHTS 

8.1  Delivery of Financial Statements 

Each Warrantor shall, and shall cause each Group Company to, deliver to each holder of Preferred Shares, the following documents or reports:

  

	 	(i)	 within ninety (90) days after the end of each fiscal year, a consolidated financial statements of the
Group Companies for such fiscal year, prepared in accordance with the US GAAP, audited and certified by an internationally reputable firm of independent certified public accountants; 

 

	 	(ii)	 within forty-five (45) days after the end of each quarter, a consolidated unaudited financial statements
of the Group Companies for such quarter, prepared in accordance with the US GAAP; 

  

	 	(iii)	 within thirty (30) days after the end of each month, a consolidated unaudited financial statements of the
Group Companies for such month, prepared in accordance with the US GAAP; 

  

	 	(iv)	 at least sixty (60) days before the beginning of each fiscal year, an annual business plan and an annual
budget of the Group Companies approved by the Board, setting forth including without limitation, the projected balance sheets, income statements and statements of cash flows for each quarter during such fiscal year of each Group Company;

  
 -34- 

	 	(v)	 copies of any documents and materials of the Group Companies submitted to any Shareholder by the Company
whenever required by any holder of Preferred Shares; and 

  

	 	(vi)	 as soon as practicable, any other information of the Group Companies reasonably requested by any such holder of
Preferred Shares. 

 In the event that any Investor shall have any questions about the aforementioned financial information
it received, such Investor shall be entitled to inspect the original financing documents, the financial system and operations of any Group Company. 
  

	8.2	 Inspection Rights 

Each Group Company covenants and agrees that each holder of Preferred Shares shall have the right to inspect the operation, facilities,
properties, documents, records and books (including but not limited to the books of accounts) of each Group Company at any time during regular working hours with prior notice, the right to discuss the business, operation and conditions of a Group
Company with any Group Company’s directors, officers, employees, independent accounts, legal counsels, advisers and investment bankers. The Warrantors shall procure the Group Companies to permit and facilitate the inspection right of each
holder of Preferred Shares hereunder. 
  

	9.	 CORPORATE GOVERNANCE 

 

	9.1	 Board of Directors 

 

	 	(i)	 The Company shall have, and the Parties hereto agree to cause the Company to have, a Board consisting of not
more than eleven (11) authorized Directors, with the composition of the Board determined as follows: (a) each of Hillhouse NEV Holdings Limited, Shunwei, and Energy (for as long as such Person continues to hold at least 50% of its
Benchmark Shares) shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) Director on the
Board; (b) the Founder Vehicles (for as long as they continue to hold any Series A Preferred Shares) shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the
need for any consent or resolution of any other Shareholder, three (3) Directors on the Board; (c) Temasek (for as long as it continues to hold at least 50% of its Benchmark Shares) shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) Director on the Board; (d) Baidu Capital (for as long as it continues to
hold at least 50% of its Benchmark Shares) shall be entitled to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one
(1) Director on the Board; (e) Tencent (for so long as it continues to hold at least no less than 46,000,000 Preferred Shares (as converted or reclassified from time to time), which number shall be adjusted for any stock split, stock
dividend, combination or other recapitalization or reclassification effected after the Initial Closing Date (the “Tencent Shareholding Threshold”)) shall be entitled to appoint, remove and
re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, two (2) Directors on the Board (each a “Tencent Director”) and,
for the avoidance of doubt, for so long as Tencent holds any Preferred Shares (as converted or reclassified from time to time), Tencent shall be entitled to appoint, remove and re-appoint at any time or from
time to time and without the need for any consent or resolution of any other Shareholder, one (1) Tencent Director on the Board (the Directors referred to in (a), (b), (c), (d) and (e) above, each an “Investor Director,” and
collectively, the “Investor Directors”), and (f) Prime Hubs (for as long as it continues to hold any shares) shall be entitled to appoint, remove and re-appoint at any time
or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) Director (the “Ordinary Director”) on the Board. Smart Group (for as long as it continues to hold any Series A Preferred
Shares in the Company) shall have the right to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) observer
to the Board. Sequoia (for as long as it continues to hold any Series A Preferred Shares in the Company) shall have the right to appoint, remove and re-appoint at any time or from time to time and without the
need for any consent or resolution of any other Shareholder, one (1) observer to the Board. Bluestone (for as long as it continues to hold any Series B Preferred Shares) shall have the right to appoint, remove and
re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) observer to the Board. IDG (for as long as it continues to hold any Series
C Preferred Shares) shall have the right to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one (1) observer to
the Board. WP (for as long as it continues to hold any Series C Preferred Shares) shall have the right to appoint, remove and re-appoint at any time or from time to time and without the need for any consent or
resolution of any other Shareholder, one (1) observer to the Board. Each observer on the Board shall have the right to attend any Board meetings of the Company only on a non-voting capacity.

  
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 Subject to the Series D Transaction Documents, the Investor Directors appointed by the
Founder Vehicles shall collectively have four (4) votes on any matter submitted for approval of the Board (“Four Votes”), and among the Four Votes, Padmasree (as long as she holds any Series
A-3 Preferred Shares and remains an Investor Director) (or any other Director appointed by the Founder Vehicles to replace Padmasree, in case Padmasree ceases to be an Investor Director) shall have one vote,
and the Founder (as long as he remains an Investor Director) shall have the remaining of the Four Votes, provided that if the Investor Directors appointed by the Founder Vehicles shall only have one vote, the Founder shall have such one vote. Each
of the other Directors of the Company shall have one (1) vote on any matter submitted for approval of the Board. The composition and voting arrangements of the board of directors of each of the Material Group Subsidiaries shall mirror the
composition and the voting arrangements of the Board of the Company in accordance with Sections 5.6 and 8.17 of the Purchase Agreement. 

  
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 This Section 9.1(i) shall terminate immediately prior to the closing of an IPO of the
Company. Immediately upon the IPO, the Board composition shall comply with the requirements of the applicable stock exchange, provided that the Founder Vehicles (acting as one Party) and Tencent (or their respective Affiliates) shall each be
entitled to appoint at least one (1) director to the Board, and the management of the Company shall have an additional representative to serve on the Board. 
  

	 	(ii)	 When and if requested by an Investor and subject to consent by the holders of at least 50% of the voting power
of the then outstanding Preferred Shares (voting together as a single class and calculated on as-converted basis), the board of directors of each or any of the other Group Companies (the “Subsidiary
Board” and collectively, the “Subsidiary Boards”) shall, and the Ordinary Holders and the Company agree to cause each or any such Subsidiary Board to, be re-constructed so as to
include the same number of director(s) that such Investor is entitled to appoint to the Company as provided in Section 9.1 (i) above, with the same voting arrangements as those of the Company’s Board. For the avoidance of doubt, in the
event that one (1) director cannot have more than one (1) vote under the Laws of any jurisdiction, the Founder Vehicles shall have the right to appoint a total of four (4) directors (as long as the Investor Directors appointed by the
Founder Vehicles are collectively entitled to Four Votes in the Board) to the board of the directors of the Group Companies established in such jurisdiction. Notwithstanding the foregoing, any Investor which has right to appoint one
(1) observer to the Board shall have the right to appoint, remove and re-appoint, at any time or from time to time and without the need for any consent or resolution of any other Shareholder, one
(1) observer to each or any Subsidiary Board, who shall have the right to attend any meetings of such Subsidiary Board on a non-voting capacity. 

 

	9.2	 Director Voting Agreements 

 

	 	(i)	 With respect to each election of Directors of the Board, each holder of voting securities of the Company shall
vote at each meeting of Shareholders of the Company, or in lieu of any such meeting shall give such holder’s written consent with respect to, as the case may be, all of such holder’s voting securities of the Company as may be necessary
(x) to keep the authorized size of the Board at eleven (11) Directors, (y) to cause the election or re-election as members of the Board, and during such period to continue in office, each of the
individuals appointed pursuant to Section 9.1 (Board of Directors), and (z) against any nominees not appointed pursuant to Section 9.1 (Board of Directors). 

  
 -37- 

	 	(ii)	 Any Director appointed pursuant to Section 9.1 (Board of Directors) may be removed from the Board
only upon the vote or written consent of the Person or group of Persons entitled to appoint such Director pursuant to Section 9.1 (Board of Directors), and the Parties agree not to seek, vote for or otherwise effect the removal of any
such Director without such vote or written consent. Any Person or group of Persons entitled to appoint any individual to be elected as a Director on the Board shall have the exclusive right at any time or from time to time to remove any such
Director occupying such position and to fill any vacancy caused by the death, disability, retirement, resignation or removal of any Director occupying such position, and each other Party agrees to cooperate with such Person or group of Persons in
connection with the exercise of such right. Each holder of voting securities of the Company agrees to always vote such holder’s respective voting securities of the Company (and given written consents in lieu thereof) in support of the
foregoing. 

  

	 	(iii)	 The Company agrees to take such action, and each other Party hereto agrees to take such action, as is necessary
to cause the election or appointment to each Subsidiary Board of the Investor Directors pursuant to Section 9.1 (Board of Directors). Upon a removal or replacement of the Investor Directors from the Board in accordance with
Section 9.2 (ii) above, the Company agrees to take such action, and each other Party hereto agrees to take such action, as is necessary to cause the removal of such director from each Subsidiary Board. 

 

	9.3	 Quorum 

The Board shall hold no less than one (1) board meeting during each fiscal quarter. A meeting of the Board shall only proceed where there
are present (whether in person or by means of a conference telephone or any other equipment which allows all participants in the meeting to speak to and hear each other simultaneously) at least six (6) Directors of the Company then in office and the
Parties shall cause the foregoing number of Directors to be the quorum requirements for meetings of the Board. The notice of the Board meeting shall be duly delivered to all Directors and observers seven (7) days prior to the scheduled meeting
in accordance with the notice procedures under the Charter Documents of the Company. Notwithstanding the foregoing, if the aforementioned notice of the Board meeting has been duly delivered, and the number of Directors required to be present under
this Section 9.3 for such meeting to proceed is not present within one hour from the time appointed for the meeting because of the absence of any Director, the Directors present at the meeting shall adjourn the meeting to the third following
Business Day at the same time and place (or to such other time or such other place as the Directors may determine) with notice delivered to all Directors one day prior to the adjourned meeting in accordance with the notice procedures under the
Charter Documents of the Company and, if at the adjourned meeting, the number of Directors required to be present under this Section 9.3 for such meeting to proceed is not present within one hour from the time appointed for the meeting because
of the absence of any Director, then the presence of such number of Director(s), shall not be required at such adjourned meeting in order for the meeting to be quorate. 
  

	9.4	 Expenses 

The Company will promptly pay or reimburse each non-employee Board member and each non-employee Subsidiary Board member and each observer for all reasonable out-of-pocket expenses incurred in connection with attending
board or committee meetings and otherwise performing their duties as directors and committee members. 

  
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	9.5	 Alternates 

Subject to applicable Law, each Director shall be entitled to appoint an alternate to serve at any Board meeting, and such alternate shall be
permitted to attend all Board meetings and vote on behalf of the director for whom he is serving as an alternate. 
  

	9.6	 Director Indemnification and Insurance 

To the maximum extent permitted by the Laws of the Cayman Islands, the Company shall indemnify and hold harmless the Investor Directors and
shall comply with the terms of the Director Indemnification Agreements, and at the request of the Investor Directors who are not a party to the Director Indemnification Agreement, shall enter into a director indemnification agreement with the
Investor Directors in similar form to the Director Indemnification Agreement. From and after the Initial Closing, the Company shall purchase and at all times thereafter, maintain customary directors’ and officers’ liability insurance for
the Investor Directors, provided however that such directors’ and officers’ liability insurance shall be in form and substance satisfactory to the Investor Directors. 

 

	10.	 PROTECTIVE PROVISIONS. 

 

	10.1	 Acts of the Group Companies Requiring Approval of the Majority Preferred Holders 

Notwithstanding anything in this Agreement or in the Charter Documents of any Group Company, the Warrantors shall ensure that no Group Company
shall take, permit to occur, approve, authorize, or agree or commit to do any of the following acts, and no Party shall permit any Group Company to take, permit to occur, approve, authorize, or agree or commit to do any of the following acts,
whether in a single transaction or a series of related transactions, whether directly or indirectly, and whether or not by amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved in advance in writing by
the Majority Preferred Holders, which shall include the approvals by Tencent for so long as the number of the Preferred Shares (as converted or reclassified from time to time) held by Tencent does not fall below the Tencent Shareholding Threshold
and by the Founder Vehicles, provided that, where the applicable Law requires a special resolution to approve any of the acts specified below, in computing the majority when a poll is demanded for the purposes of passing such a special resolution at
a meeting of Shareholders, the Majority Preferred Holders, which shall include the approvals by Tencent for so long as the number of the Preferred Shares (as converted or reclassified from time to time) held by Tencent does not fall below the
Tencent Shareholding Threshold and by the Founder Vehicles, shall have the voting rights equal to all Shareholders who voted in favor of the special resolution plus one: 
  

	 	(i)	 any amendment or change of the rights, preferences, privileges, or powers of or concerning, or the limitations
or restrictions provided for the benefit of, any Preferred Shares, or any amendment of the Charter Documents of the Company or any Material Group Subsidiary; 

  
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	 	(ii)	 any action that authorizes, creates or issues any Ordinary Shares or Preferred Shares after the Initial Closing
(other than: (1) the issuance of Series D Preferred Shares pursuant to the Purchase Agreement, (2) the issuance of Ordinary Shares upon conversion of the Preferred Shares, and (3) the issuance of Ordinary Shares (or options or
warrants therefor) pursuant to the Stock Incentive Plans); any action that authorizes, creates or issues any class or series of Equity Securities having rights, preferences, privileges, powers, or limitations or restrictions provided for the
benefits of the holders thereof, superior to or on a parity with any Preferred Shares, or any Equity Securities convertible into, exchangeable for, or exercisable into any Equity Securities having rights, preferences, privileges, powers, or
limitations or restrictions provided for the benefits of the holders thereof, superior to or on a parity with any series of Preferred Shares, and any action that reclassifies any outstanding shares into shares having rights, preferences, privileges,
powers, or limitations or restrictions provided for the benefits of the holders thereof, senior to or on a parity with any series of Preferred Shares; 

  

	 	(iii)	 any approval of the liquidation, winding up, bankruptcy, dissolution of any Group Company or the commitment to
any of the foregoing; any filing by or against any Group Company for the appointment of a receiver, administrator or other form of external manager of any Group Company; 

 

	 	(iv)	 any approval of the corporate reorganization, merger, consolidation, or split of any Group Company, any Trade
Sale, or the commitment to any of the foregoing; 

  

	 	(v)	 any acquisition of a majority of the shares, voting power, business or assets of any other corporation or
entity, or any investment in any other corporation or entity in excess of US$30,000,000 (individually or in aggregate in a series of related transactions in any financial year); 

 

	 	(vi)	 any repurchase or redemption or cancellation of any Equity Securities of any Group Company (other than pursuant
to: (1) the Series D Transaction Documents, (2) any repurchase right of the Company under the Stock Incentive Plans approved in accordance with the Memorandum and Articles and this Agreement, (3) the Loan and Security Agreement, and
(4) the offer letter dated November 23, 2015 for the engagement of Padmasree as chief development officer of the Company); 

  

	 	(vii)	 any increase, decrease or alteration of the authorized or issued share capital or registered capital of any
Group Company (other than (1) the increase of capital of any Group Company using the proceeds from the issuance and sale of the Series D Preferred Shares in accordance with Section 8.3 of the Purchase Agreement, and (2) the increase
of capital of any Group Company by another Group Company which holds 100% equity in the first Group Company), or any transfer of the Equity Securities of any Group Company (other than (1) the transfer of Equity Securities of the Company which
complies with the Right of First Refusal & Co-Sale Agreement or the Stock Incentive Plans, (2) the equity restructuring of Beijing Libite as described under the Purchase Agreement, and
(3) the transfer or disposal of Padmasree’s shares pursuant to the Loan and Security Agreement); 

  
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	 	(viii)	 any change of the size, composition or voting arrangement of the board of directors of any Group Company and
the manner in which the directors of each Group Company are appointed, except in compliance with Section 9.1(i) above; 

  

	 	(ix)	 (1) establishment of any Subsidiary other than a Subsidiary that is wholly owned, directly or indirectly, by
NIO Inc., or divestiture or sale of an interest in a Subsidiary; or (2) restatement or amendment to, or termination of, the Control Documents between Shanghai Nextev and NIO Technology, or (3) execution of, restatement or amendment to, or
termination of, any control documents between Shanghai Nextev and Beijing Libite (or any other affiliate of the Company) which provide contractual control to Shanghai Nextev over Beijing Libite (or such affiliate of the Company) and allow Shanghai
Nextev to consolidate the financial statements of Beijing Libite (or such affiliate of the Company) (except for (A) the equity restructuring and the execution of control documents with respect to Beijing Libite pursuant to Section 8.13 of
the Purchase Agreement, and (B) any amendment and restatement to the control documents between Shanghai Nextev and Beijing Libite (or any other affiliate of the Company) or to the Control Documents between Shanghai Nextev and NIO Technology
solely resulted from the capital increase or equity transfer of Beijing Libite or NIO Technology (or any other affiliate of the Company) (as the case may be) which has been approved in accordance with this Section 10.1);; 

 

	 	(x)	 any sale, transfer, assignment, license, mortgage or other disposition of, or the incurrence of any Lien on, a
majority portion of the assets, properties, Intellectual Property, goodwill, Business of any Group Company in excess of US$30,000,000 (individually or in aggregate in a series of related transactions in any financial year) (except for the transfer
or license among Group Companies for management purpose or in the ordinary course of business); 

  

	 	(xi)	 any transfer of Prime Hubs Shares (as defined in the Purchase Agreement) by any Prime Hubs Grantee (as defined
in the Purchase Agreement) to a Person other than Prime Hubs or a Key Employee, officer, management personnel or director of the Group Companies (including the vehicle 100% owned or controlled by such Key Employee, officer or director); or

  

	 	(xii)	 any direct or indirect transfer by the Founder of any Equity Securities in any Group Company or any of the
Founder Vehicles, except for (1) the transfer to the Persons described in Section 2.6(i) to (iii) of the Right of First Refusal & Co-Sale Agreement, and (2) the transfer of any
Equity Securities of Beijing Libite for the purposes of individual foreign exchange registration of the Prime Hubs Grantees (or any amendments thereto), and (3) subject to Section 2.1(vi) in the Right of First Refusal & Co-Sale Agreement, up to a separate and additional 1,500,000 Series A-1 Preferred Shares beneficially held by the Founder (directly or indirectly through the Founder
Vehicles), provided that the third party transferee shall have executed a Deed of Adherence in the form attached hereto as Exhibit A. 

  
 -41- 

	10.2	 Notwithstanding anything in this Agreement or in the Charter Documents of any Group Company and without
prejudicing the generality of the Section 10.1 above, the Warrantors shall ensure that no Group Company shall take, permit to occur, approve, authorize, or agree or commit to do any of the following acts, and no Party shall permit any Group
Company to take, permit to occur, approve, authorize, or agree or commit to do any of the following acts, whether in a single transaction or a series of related transactions, whether directly or indirectly, and whether or not by amendment, merger,
consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved in advance in writing by the Majority Preferred Holders, provided that, where the applicable Law requires a special resolution to approve any of the acts specified
below, in computing the majority when a poll is demanded for the purposes of passing such a special resolution at a meeting of Shareholders, the Majority Preferred Holders shall have the voting rights equal to all Shareholders who voted in favour of
the special resolution plus one 

  

	 	(i)	 any declaration, setting aside and/or payment of any dividends or other distributions on any securities of any
Group Company, or the adoption of or any change to the dividend policy; 

  

	 	(ii)	 any initial public offering (including Qualified IPO) of any Group Company, including choice of the
underwriters, the listing venue, timing, valuation and the security exchange for the initial public offering; 

  

	 	(iii)	 approval of issuance of any indenture, bond or note of any Group Company; or 

 

	 	(iv)	 the appointment of, or entering into agreements or arrangements with, a company other than a wholly owned PRC
Subsidiary of the Company to serve as a distributor of any products manufactured by PRC Group Companies and/or any partner of the Group, including but not limited to Anhui Jianghuai Automobile Co., Ltd. 

 

	10.3	 Notwithstanding anything in this Agreement, the following actions shall require the consent of the holders of
at least seventy-five percent (75%) of the outstanding Series B Preferred Shares: 

  

	 	(i)	 any change in any of the rights, preferences, privileges, or powers of, or restrictions provided for the
benefit of, the Series B Preferred Shares; 

  

	 	(ii)	 creating or authorizing the creation of or issue of any Ordinary Shares or any other security convertible into
or exercisable for Ordinary Shares, or any security (or any other security convertible into or exercisable for such securities), having rights, preferences or privileges senior to or on parity with any Series B Preferred Shares, or without
consideration or (in the case of Ordinary Shares or securities convertible into or exercisable for Ordinary Shares) for a consideration per share less than the Series B Conversion Price immediately prior to such creation or issue (except for the
issuance of Exempted Securities); or 

  
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	 	(iii)	 any change to the capital structure of any Group Company which has the effect of diluting or reducing the
effective shareholding of the Series B Preferred Shareholders relative to the other classes of shares. For the avoidance of doubt, creation, authorization or issue of (x) any Exempted Securities or (y) any Equity Securities for an
effective consideration per share more than the Series B Conversion Price immediately prior to such creation, authorization or issue shall not be considered having the effect of diluting or reducing the effective shareholding of the Series B
Preferred Shareholders relative to the other classes of shares hereunder. 

  

	10.4	 Notwithstanding anything in this Agreement, the following actions shall require the consent of the holders of
at least seventy-five percent (75%) of the outstanding Series C Preferred Shares: 

  

	 	(i)	 any change in any of the rights, preferences, privileges, or powers of, or restrictions provided for the
benefit of, the Series C Preferred Shares; 

  

	 	(ii)	 creating or authorizing the creation of or issue of any Ordinary Shares or any other security convertible into
or exercisable for Ordinary Shares, or any security (or any other security convertible into or exercisable for such securities), having rights, preferences or privileges senior to or on parity with any Series C Preferred Shares, or without
consideration or (in the case of Ordinary Shares or securities convertible into or exercisable for Ordinary Shares) for a consideration per share less than the Series C Conversion Price immediately prior to such creation or issue (except for the
issuance of Exempted Securities); or 

  

	 	(iii)	 any change to the capital structure of any Group Company which has the effect of diluting or reducing the
effective shareholding of the Series C Preferred Shareholders relative to the other classes of shares. For the avoidance of doubt, creation, authorization or issue of (x) any Exempted Securities or (y) any Equity Securities for an
effective consideration per share more than the Series C Conversion Price immediately prior to such creation, authorization or issue shall not be considered having the effect of diluting or reducing the effective shareholding of the Series C
Preferred Shareholders relative to the other classes of shares hereunder. 

  

	10.5	 Notwithstanding anything in this Agreement, the following actions shall require the consent of the holders of
at least seventy-five percent (75%) of the outstanding Series D Preferred Shares: 

  

	 	(i)	 any change in any of the rights, preferences, privileges, or powers of, or restrictions provided for the
benefit of, the Series D Preferred Shares; 

  
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	 	(ii)	 creating or authorizing the creation of or issue of any Ordinary Shares or any other security convertible into
or exercisable for Ordinary Shares, or any security (or any other security convertible into or exercisable for such securities), having rights, preferences or privileges senior to or on parity with any Series D Preferred Shares, or without
consideration or (in the case of Ordinary Shares or securities convertible into or exercisable for Ordinary Shares) for a consideration per share less than the Series D Conversion Price immediately prior to such creation or issue (except for the
issuance of Exempted Securities); or 

  

	 	(iii)	 any change to the capital structure of any Group Company which has the effect of diluting or reducing the
effective shareholding of the Series D relative to the other classes of shares. For the avoidance of doubt, creation, authorization or issue of (x) any Exempted Securities or (y) any Equity Securities for an effective consideration per
share more than the Series D Conversion Price immediately prior to such creation, authorization or issue shall not be considered having the effect of diluting or reducing the effective shareholding of the Series D Preferred Shareholders relative to
the other classes of shares hereunder. 

  

	10.6	 Acts of the Group Companies Requiring Approval of Investor Directors 

In addition to such other limitations as may be provided in this Agreement, the Company shall not take, permit to occur, approve, authorize, or
agree or commit to do any of the following, and the Company shall not permit any other Group Company to take, permit to occur, approve, authorize, or agree or commit to do any of the following acts, whether in a single transaction or a series of
related transactions, whether directly or indirectly, and whether or not by amendment, merger, consolidation, scheme of arrangement, amalgamation, or otherwise, unless approved in advance in writing by a majority of the votes of the directors of the
Company, including the affirmative vote of (a) at least two Investor Directors appointed by the Series A-1 Investors and (b) at least four Investor Directors appointed by the Investors other than the
Series A-1 Investors: 
  

	 	(i)	 any related party transaction or a series of related party transactions involving any Group Company on one
hand, and any Ordinary Holders, director, officer or employee of the Group Company on the other hand, for which the aggregate value exceeds US$3 million, except for the business cooperation with any of Tencent’s Affiliates (including but
not limited to the business cooperation with any of Tencent’s Affiliates pursuant to Section 12.16 hereto); 

  

	 	(ii)	 the extension by any Group Company of any loan to any third party in excess of US$3 million (individually
or in the aggregate in a series of related loans in a fiscal year), or any guarantee for the indebtedness of any third party, except for the loans or the trade credit incurred in the ordinary course of business; 

 

	 	(iii)	 the incurrence of any loan of any Group Company involving an amount in excess of US$5,000,000 from banks,
financial institutions or any third party; 

  

	 	(iv)	 the commencement or carrying out of any business activities by Beijing Libite or NIO Technology which will
generate substantial revenues or cash flows; any material change to the business scope, or substance of the Business of any Group Company, the commencement or carrying out any new businesses of any Group Company other than the Business; or
incurrence of any substantial expenses by Beijing Libite (except for the regular lease payment for its current leased office or regular office maintenance expenses) exceeding RMB1,000,000; any transfer of assets to NIO Technology or Beijing Libite;

  
 -44- 

	 	(v)	 approval or material amendment of the annual business plan or annual budget plan of any Group Company;

  

	 	(vi)	 approval or amendment of Stock Incentive Plans of any Group Company, or any other incentive arrangements which
may result in any employee, officer, director or advisor of the Group Companies directly hold any Equity Securities in the Company or other Group Company; 

  

	 	(vii)	 any material change in the accounting and financial policies of any Group Company unless such change is
required by applicable Laws; or 

  

	 	(viii)	 engagement or change of the auditor of the Company. 

 

	11.	 DRAG-ALONG RIGHTS. 

 

	11.1	 Approved Sale 

At any time after March 18, 2021, in the event that the holders of the Preferred Share receives a written bona fide offer for a Trade Sale
from an unrelated person, which, for the purpose of this Section 11, means any third party which is not an Affiliate of any Group Company, or an Affiliate of the Founder or Mr. QIN Lihong, or an Affiliate of the Founder Vehicles, or any
trust or other estate in which the Founder or Mr. QIN Lihong has a substantial beneficial interest, in which the implied valuation of the Company immediately prior to such offered Trade Sale is not less than US$6,000,000,000 (the “Offer
Price”), and if such offered Trade Sale is approved and agreed by the Majority Preferred Holders (as so approved and agreed, the “Approved Sale”), then upon the receipt of written notice from the Majority Preferred Holders
and within thirty (30) days thereafter, the Company and each Shareholder of the Company shall vote for, consent to and raise no objection against, enter into any agreement in connection with, participate in, and if applicable, shall cause all
other Shareholders of the Company to promptly consent to, enter into any agreement in connection with, and participate in, such Trade Sale. 

  
 -45- 

	11.2	 In the event that there are any Shareholders that do not participate in the Approved Sale within the period as
provided in Section 11.1, the Company shall promptly notify such Shareholder of the Company (the “Remaining Members”) in writing of the Approved Sale and the material terms and conditions of such Approved Sale, whereupon each
Remaining Member shall, in accordance with instructions received from the Company and as pre-approved by the Majority Preferred Holders, vote all of its voting securities of the Company in favor of, otherwise
consent in writing to, and/or otherwise sell or transfer all of its Shares in such Approved Sale (including without limitation tendering original share certificates for transfer, signing and delivering share transfer certificates, share sale or
exchange agreements, and certificates of indemnity relating to any Shares in the capital of the Company in the event that such Remaining Member has lost or misplaced the relevant share certificate) on the same terms and conditions as were agreed by
the Majority Preferred Holders; provided, however, that such terms and conditions, including with respect to price paid or received per share, may differ as among the Ordinary Shares, the Series A Preferred Shares, the Series B Preferred Shares, the
Series C Preferred Shares, the Series D Preferred Shares and different series of preferred shares, in order to reflect the liquidation preferences and participation rights of the preferred shares set forth in the Memorandum and Articles (it being
understood that proceeds of the Approved Sale shall be distributed among the Shareholders in accordance with Article 8(b) of the Memorandum and Articles). In furtherance of the foregoing, the Company is expressly hereby authorized by each Remaining
Member to take any and all of the following actions on such Remaining Member’s behalf (without receipt of any further consent by such Remaining Member): (i) vote all of the voting securities of such Remaining Member in favor of any such
Approved Sale; (ii) otherwise consent on such Remaining Member’s behalf to such Approved Sale; (iii) sell all of such Remaining Member’s shares in such Approved Sale, in accordance with the terms and conditions of this
Section 11.2; and (iv) act as such Remaining Member’s attorney-in-fact in relation to any such Approved Sale and have the full authority to sign and
deliver, on behalf of such Remaining Member, share transfer certificates, share sale or exchange agreements and certificates of indemnity relating to any shares in the capital of the Company in the event that such Remaining Member has lost or
misplaced the relevant share certificate. 

  

	11.3	 In furtherance of the foregoing, in the event an Approved Sale is to be brought to a vote at a general meeting,
each Shareholder of the Company entitled to vote at such meeting agrees: 

  

	 	(i)	 to be present, in person or by proxy, at all such meetings and be counted for the purposes of determining the
presence of a quorum at such meetings and the presence of the number of votes necessary for the effectiveness of any shareholder resolutions; 

  

	 	(ii)	 to vote (in person, by proxy or by action by written consent, as applicable) all shares of the Company as to
which it has record or beneficial ownership in favor of such Approved Sale and in opposition of any and all other proposals that could reasonably be expected to delay or impair the ability of the Company to consummate such Approved Sale;

  

	 	(iii)	 to refrain from exercising any dissenters’ rights or rights of appraisal under applicable Laws at any time
with respect to such Approved Sale; and 

  

	 	(iv)	 to execute and deliver all related documentation and take such other action in support of the Approved Sale as
shall reasonably be requested by the Majority Preferred Holders. 

  
 -46- 

	11.4	 Put Option 

Without prejudice to the other provisions hereof, if any Shareholder of the Company (the “Dissenting Member”) refuses to vote
in favor of the Approved Sale or participate in the Approved Sale in accordance with Section 11.1 (Approved Sale) through Section 11.3 (Drag-along Provisions to Control), then, so long as the Majority Preferred Holders give
their written consent, each holder of the Preferred Shares voting in favor of the Approved Sale shall have the right to require the Dissenting Member to purchase in cash up to all of the Preferred Shares held by such holder at a price per Preferred
Shares equal to the amount that a holder of a Preferred Shares would have received in respect of a Preferred Shares had the Company been sold for cash in the Approved Sale. The Dissenting Member shall also reimburse such holder of Preferred Shares
for any and all reasonable fees and expense, including legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of rights of such holder of a Preferred Shares under this Section 11.4. Within fifteen (15) days
after a holder of Preferred Shares delivers a notice to the Dissenting Member exercising the option created hereby, such holder of Preferred Shares shall deliver to the Dissenting Member the certificate or certificates representing Preferred Shares
to be sold under this Section 11.4 by such holder of Preferred Shares properly endorsed for transfer, if certificated, and the Dissenting Member shall pay immediately the aggregate purchase price therefor and the amount of reimbursable fees and
expenses, in each case, as provided for under this Section 11.4, in cash or by other means acceptable to such holder of Preferred Shares. 
  

	11.5	 Drag-along Provisions to Control 

For the avoidance of doubt, if and to the extent that there are inconsistencies between this Section 11 and any other provisions of this
Agreement or the Right of First Refusal & Co-Sale Agreement, the terms of this Section 11 (Drag-Along Rights) shall prevail and control. 

 

	12.	 ADDITIONAL COVENANTS. 

 

	12.1	 Control of Subsidiaries 

The Company shall institute and keep in place such arrangements such that the Company (i) will at all times control the operations of and
maintain relevant beneficial interests in each other Group Company, and (ii) will at all times be permitted to properly consolidate the financial results for each other Group Company in the consolidated financial statements for the Company
prepared under the US GAAP. 
  

	12.2	 Compliance with Laws 

Each Warrantor shall cause the Group Companies to, conduct the Business in compliance in all material respects with all applicable Laws, and
obtain, make and maintain in effect, all Consents from the relevant Governmental Authority or other Person required in respect of the due and proper establishment and operations of each Group Company in accordance with applicable Laws. Without
limiting the generality of the foregoing, none of the Warrantors shall, and the Warrantors shall cause each Group Company not to, and the Parties shall ensure that its and their respective Subsidiaries and its respective officers, directors, and
representatives shall not, directly or indirectly, (a) offer or give anything of value to any Public Official with the intent of obtaining any improper advantage, affecting or influencing any act or decision of any such Person, assisting any
Group Company in obtaining or retaining business for, or with, or directing business to, any Person, or constituting a bribe, kickback or illegal or improper payment to assist any Group in obtaining or retaining business, (b) take any other
action, in each case, in violation of the Foreign Corrupt Practices Act of the United States of America, as amended (as if it were a United States Person), or any other applicable similar anti-corruption, recordkeeping and internal controls Laws, or
(c) establish or maintain any fund or assets in which any Group Company has proprietary rights that have not been recorded in its books and records of Group Company. 

  
 -47- 

	12.3	 Insurance 

If requested by the Majority Preferred Holders, the Company shall promptly purchase and maintain, and shall cause its Subsidiaries to promptly
purchase and maintain, in effect, insurance policies with respect to the Group Company’s properties, employees, products, operations, liabilities, and/or business, each in the amounts not less than that are customarily obtained by companies
engaging in research and development, design, manufacture, promotion and distribution of new energy automobiles (electric cars) in the PRC. 
  

	12.4	 Future Holders of Shares 

Except with the written consent of the Majority Preferred Holders, the Company covenants that it will cause all future holders of at least 1%
of the Company’s Shares, and all future holders of other Equity Securities convertible, exchangeable or exercisable into at least 1% of the Company’s Shares upon such conversion, exchange or exercise, to join this Agreement and the Right
of First Refusal & Co-Sale Agreement as a “Party,” a “Shareholder” and, where applicable, as an “Ordinary Holder,” or an “Investor” and a “Preferred
Holder,” either (i) by executing a Deed of Adherence in the form attached hereto as Exhibit A, without any amendment to this Agreement or the Right of First Refusal & Co-Sale Agreement, or
(ii) by entering into an amended and restated Agreement in accordance with Section 13.12 and an amended and restated Right of First Refusal & Co-Sale Agreement in accordance with
Section 4.10 thereof, as applicable, and each Shareholder shall cooperate with the Company in this regard. The Parties hereby agree that upon execution of a Deed of Adherence in the form attached hereto as Exhibit A by such holders with the
Company, such holders may become parties to this Agreement and the Right of First Refusal & Co-Sale Agreement, and be entitled to all the applicable rights and privileges, and be bound by all the
applicable duties and obligations, as provided under this Agreement and the Right of First Refusal & Co-Sale Agreement in relation to the Shares held by them. Further, immediately after each
Additional Closing, Schedule 1 (List of Investors) to this Agreement will be amended to list the Additional Series D Investors participating in such Additional Closing, and subject to Section 13.2 (Effectiveness and Termination)
hereof, each Additional Series D Investor participating in such Additional Closing shall be deemed as a “Series D Investor,” a “Party” and a “Shareholder” hereunder. 

  
 -48- 

	12.5	 Internal Control System 

The Warrantors shall, and shall cause each Group Company to, maintain the books and records in accordance with sound business practices and
implement and maintain an adequate system of procedures and controls with respect to finance, management, and accounting that meets international standards of good practice and is reasonably satisfactory to the Majority Preferred Holders to provide
reasonable assurance that (i) transactions by it are executed in accordance with management’s general or specific authorization, (ii) transactions by it are recorded as necessary to permit preparation of financial statements in
conformity with the respective PRC Accounting Standards or US GAAP and to maintain asset accountability, (iii) access to assets of it is permitted only in accordance with management’s general or specific authorization, (iv) the
recorded accountability for assets of it is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any material differences, (v) segregating duties for cash deposits, cash reconciliation and
cash payment, and establishing proper approval procedures relating to cash management, and (vi) any personal assets or bank accounts of the employees, directors, officers are not mingled with the corporate assets or corporate bank account of
any Group Company, and no Group Company uses any personal bank accounts of any employees, directors, officers thereof during the operation of its business. 

12.6 No Avoidance; Voting Trust 
 Each
Warrantor will not, and shall procure the Group Companies not to, by any voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be performed hereunder by the Group Companies, and each Warrantor will at all
times in good faith assist and take action as appropriate in the carrying out of all of the provisions of this Agreement. Except for the transactions contemplated by the Series D Transaction Documents, each Ordinary Holder agrees that it shall not
enter into any other agreements or arrangements of any kind with respect to the voting of any Shares or deposit any Shares in a voting trust or other similar arrangement. 

12.7 United States Tax Matters 
  

	 	(i)	 None of the Warrantors will, and will procure the Group Companies not to, take any action inconsistent with its
treatment of the Company as a corporation for U.S. federal income tax purposes or elect to be treated as an entity other than a corporation for U.S. federal income tax purposes 

 

	 	(ii)	 The Company shall use, and shall cause each of its Subsidiaries to use, its best efforts to arrange its
management and business activities in such a way that the Company and each of its Subsidiaries are not treated as residents for tax purposes, or is otherwise subject to income tax in, a jurisdiction other than the jurisdiction in which they have
been organized. 

  
 -49- 

	 	(iii)	 The Company shall use its best effort to avoid future status of the Company or any of its Subsidiaries as a
PFIC. Within forty-five (45) days from the end of each taxable year of the Company, the Company shall determine, in consultation with a reputable accounting firm, whether the Company or any of its Subsidiaries was a PFIC in such taxable year
(including whether any exception to PFIC status may apply). If the Company determines that the Company or any of its Subsidiaries was a PFIC in such taxable year (or if a Government Authority or an Investor informs the Company that it has so
determined), it shall, within sixty (60) days from the end of such taxable year, provide the following information to each holder of Preferred Shares that is a United States Person (“Direct US Investor”) and each United States
Person that holds either direct or indirect interest in such holder (“Indirect US Investor”) (hereinafter, collectively referred to as a “PFIC Shareholder”): (i) all information reasonably
available to the Company to permit such PFIC Shareholder to (a) accurately prepare its U.S. tax returns and comply with any other reporting requirements, if any, arising from its investment in the Company and relating to the Company or any of
its Subsidiaries’ classification as a PFIC and (b) make any election (including, without limitation, a “qualified electing fund” election under Section 1295 of the Code), with respect to the Company (or any of its
Subsidiaries); and (ii) a completed “PFIC Annual Information Statement” as described under Treasury Regulation Section 1.1295-1(g). The Company shall be required to provide the
information described above to an Indirect US Investor only if the relevant holder of Preferred Share requests in writing that the Company provide such information to such Indirect US Investor and furnish the Company with written identifying
information (such as name, address, and other identifying information) about the Indirect US Investor. 

  

	 	(iv)	 Each of the Ordinary Holders represents that such Person is not a United States Person and such Person is not
owned, wholly or in part, directly or indirectly, by any United States Person. Each of the Ordinary Holders shall provide prompt written notice to the Company of any subsequent change in its United States Person status. The Company shall use its
best efforts to avoid future status of the Company or any of its Subsidiaries as a CFC. Upon written request of a holder of Preferred Shares from time to time, the Company will promptly provide in writing such information concerning its shareholders
and the direct and indirect interest holders in each shareholder sufficient for such holder of Preferred Shares to determine whether the Company is a CFC. In the event that the Company does not have in its possession all the information necessary
for the holder of Preferred Shares to make such determination, the Company shall promptly procure such information from its shareholders. The Company shall, (i) upon written request of a holder of Preferred Shares, furnish on a timely basis all
information requested by such holder to satisfy its (or any Indirect US Investor’s) U.S. federal income tax return filing requirements, if any, arising from its investment in the Company and relating to the Company or any of its
Subsidiaries’ classification as a CFC. The Company and each of its Subsidiaries shall use their commercially reasonable best efforts to avoid generating for any taxable year in which the Company or any of its Subsidiaries is a CFC, income that
would be includible in the income of such holder of Preferred Shares (or any Indirect US Investor) pursuant to Section 951 of the Code. 

  

	 	(v)	 The Company shall comply, and shall cause each of its Subsidiaries to comply, with all record-keeping,
reporting, and other requests necessary for the Company and each of its Subsidiaries to comply with any applicable U.S. tax law or to allow each holder of Preferred Shares to avail itself of any provision of U.S. tax laws. The Company shall also
provide each holder of Preferred Shares with any information requested by such holder of Preferred Shares to allow such holder of Preferred Shares to comply with U.S. tax laws or to avail itself of any provision of U.S. tax laws.

  
 -50- 

	 	(vi)	 The cost incurred by the Company in providing the information that it is required to provide, or is required to
cause to be provided, and the cost incurred by the Company in taking the action, or causing the action to be taken, as described in this Section shall be borne by the Company. 

 

	12.8	 Other Tax Matters 

Each of the Warrantors agrees to jointly and severally indemnify each Investor from and against (i) any Taxes imposed on such Investor by
any PRC Government Authority in connection with its investment in the Company, and (ii) any loss, claim, liability, expense, or other damage (including diminution in the value of the Company business or such Investor’s investment in the
Company) attributable to (a) any Taxes (or the non-payment thereof) of any Group Company for all taxable periods ending on or before the Initial Closing and the portion through the end of the Initial
Closing for any taxable period that includes (but does not end on) the Initial Closing, (b) any Taxes of any other Person imposed by any Governmental Authority on any Group Company as a transferee, successor, withholding agent, accomplice, or
party providing conveniences in connection with an event or transaction occurring before the Initial Closing, and (c) any breach of any representations, warranties or covenants contained in Section 12.7 (United States Tax Matters).

  

	12.9	 Confidentiality 

 

	 	(i)	 Non-Disclosure of Confidential Information. Except as set forth
in Section 12.9(iii), each of the Parties shall (i) not use or disclose to any person that is not a Party any Confidential Information it has or acquires; (ii) make every effort to prevent the unauthorized use or disclosure of
Confidential Information; and (iii) cause each of its Affiliates to comply with (i) and (ii) in this Section 12.9(i). 

  

	 	(ii)	 Press Releases. No announcement regarding any of the Confidential Information (including the
Investor’s subscription of share interest of the Company) in a press release, conference, advertisement, announcement, professional or trade publication, mass marketing materials or otherwise to the general public may be made without the prior
written consent of the Majority Preferred Holders. Any press release issued by the Company shall not disclose any of the Confidential Information and the final form of such press release shall be approved in advance in writing by the Majority
Preferred Holders (except for any press release made by Tencent in connection with the transaction as contemplated under the Series D Transaction Documents upon the Initial Closing). 

  
 -51- 

	 	(iii)	 Permitted Disclosures. Notwithstanding the foregoing, Section 12.9 (i) above shall not apply
to (a) Confidential Information which a restricted party learns from a third party which such third party reasonably believes to have the right to make the disclosure, provided that the restricted party complies with any restrictions imposed by
such third party; (b) Confidential Information which is rightfully in the restricted party’s possession prior to the time of disclosure by the protected party and not acquired by the restricted party under a confidentiality obligation;
(c) Confidential Information which enters the public domain without breach of confidentiality by the restricted party, (d) disclosures of Confidential Information by a Party to its current or bona fide prospective investors, Affiliates and
their respective employees, directors, bankers, lenders, accountants, legal counsels, business partners or representatives or advisors who need to know such information, in each case only where such persons or entities are informed of the
confidential nature of the Confidential Information and are under appropriate nondisclosure obligations substantially similar to those set forth in Section 12.9, (e) disclosures of Confidential Information to a bona fide purchaser or transferee
of the Shares held by the Investors where such purchaser or transferee is informed of the confidential nature of the Confidential Information and are under appropriate nondisclosure obligations substantially similar to those set forth in
Section 12.9, (f) disclosures of Confidential Information if such disclosure is approved in writing by the Company, the Majority Ordinary Holders and the Majority Preferred Holders, and (g) disclosures of Confidential Information to the
extent required pursuant to applicable Law (including the applicable rules of any stock exchange), in which case the party required to make such disclosure (the “Disclosing Party”) shall provide the other Parties hereto with prompt
written notice of that fact, shall consult with the other Parties hereto regarding such disclosure, and shall, to the extent reasonably possible and with the cooperation and reasonable efforts of the other Parties, seek a protective order,
confidential treatment or other appropriate remedy. In such event, the Disclosing Party shall furnish only that portion of the information which is legally required to be disclosed. 

 

	 	(iv)	 The provisions of Section 12.9 shall terminate and supersede the provisions of any separate nondisclosure
agreement executed by any of the Parties hereto with respect to the transactions contemplated hereby, including without limitation, any term sheet, letter of intent, memorandum of understanding or other similar agreement entered into by any Group
Company, the Ordinary Holders and the Investors in respect of the transactions contemplated hereby. 

  

	12.10   	 No Use of Series D Investors’ Name or Logo 

Without the prior written consent of a Series D Investor, and whether or not such Series D Investor is then a shareholder of the Company, none
of the Parties shall use, publish or reproduce the name, brand and/or logo of such Series D Investor, or any names, brands, trademarks or logos similar to those of such Series D Investor, or claim itself a partner of such Series D Investor or its
Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for marketing, advertising, promotional or other purposes, where the names, brands and/or logos of each Series D
Investor are as follows (unless stated elsewhere in Sections 12.11 (No Use of Series C Investors’ Name or Logo), 12.12 (No Use of Series B Investors’ Name or Logo), 12.13 (No Use of Series
A-3 Investors’ Name or Logo) or 12.14 (No Use of Series A-2 Investors’ Name or Logo)): (1) with respect to Image Frame and Morespark,
“Tencent” or “腾讯,” (2) with respect to Hammer Capital, “Hammer” or “黑马资本,” (3) with respect to Hubei Science & Technology Investment Group (Hong Kong) Co Ltd,
“Hubei Science & Technology” or “湖北科投,” (4) with respect to PV
Vision Limited, “Primavera” or “春华,” (5) with respect to Temasek, “Temasek,
” (6) with respect to Hillhouse, “Hillhouse,” “Gaoling”, “Lei Zhang”, “张磊” or “高瓴” and (7) with respect to
SCC, “Sequoia,” “Sequoia Capital” or “红杉.” 

  
 -52- 

	12.11   No 	 Use of Series C Investors’ Name or Logo 

Without the prior written consent of a Series C Investor, and whether or not such Series C Investor is then a shareholder of the Company, none
of the Parties shall use, publish or reproduce the name, brand and/or logo of such Series C Investor, or any names, brands, trademarks or logos similar to those of such Series C Investor, or claim itself a partner of such Series C Investor or its
Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for marketing, advertising, promotional or other purposes, where the names, brands and/or logos of each Series C
Investor are as follows (unless stated elsewhere in Sections 12.10 (No use of Series D Investors’ Name or Logo), 12.12 (No Use of Series B Investors’ Name or Logo), 12.13 (No Use of Series
A-3 Investors’ Name or Logo) or 12.14 (No Use of Series A-2 Investors’ Name or Logo)): (1) with respect to Baidu Capital, “Baidu” or
“百 度,” and “Baidu Capital” or “百度资本,” (2) with respect to West City, “Capital Today” or “今日资本,” (3) with respect to WP, “Warburg Pincus” or “华平,” (4) with respect to New Margin Capital, “聯創資本” or “New Margin Capital,” (5) with respect to Image Frame, “Tencent” or “腾讯,” (6) with respect to Total Prestige, “新天域资本” or “New Horizon Capital,” (7) with respect to Zhide, “中金,” “CICC,”
“中金公司,”
“中金资本” or
“中金智德,” (8) with respect to ChinaEquity, “信中利,” and (9) with respect to UBS, “UBS” or “瑞银.” 
  

	12.12   No 	 Use of Series B Investors’ Name or Logo 

Without the prior written consent of a Series B Investor, and whether or not such Series B Investor is then a shareholder of the Company, none
of the Parties shall use, publish or reproduce the name, brand and/or logo of such Series B Investor, or any names, brands, trademarks or logos similar to those of such Series B Investor, or claim itself a partner of such Series B Investor or its
Affiliates, or make any similar representations, in any discussion, documents or materials or otherwise, including without limitation for marketing, advertising, promotional or other purposes, where the names, brands and/or logos of each Series B
Investor are as follows (unless stated elsewhere in Sections 12.10 (No use of Series D Investors’ Name or Logo), 12.11 (No Use of Series C Investors’ Name or Logo), 12.12 (No Use of Series B Investors’ Name or
Logo), 12.13 (No Use of Series A-3 Investors’ Name or Logo) or 12.14 (No Use of Series A-2 Investors’ Name or Logo)): (1) with respect
to Temasek, “Temasek,” (2) with respect to Bluestone, “Bluestone” or “厚朴,” (3) with
respect to TPG, “TPG,” (4) with respect to Magic Stone, “Magic Stone,” (5) with respect to Orient Hontai, “Orient Hontai,” (6) with respect to Golden Brick, “Golden Brick,” (7) with respect to Lenovo,
“Lenovo,” (8) with respect to SCC, “Sequoia,” “Sequoia Capital” or
“红杉,” (9) with respect to Grandfield, “Redview” and “鸿为,” (10) with respect to Palace,
“蘭亭投资 ,” (11) with respect to Bright Sky, “GIC,” (12) with respect to
Long Winner, “China Renaissance,” and (13) with respect to Hillhouse, “Hillhouse,” “Gaoling”, “Lei Zhang”, “张磊” or “高瓴.” 

  
 -53- 

	12.13   No 	 Use of Series A-3 Investors’ Name or Logo

 Without the prior written consent of Sequoia, and whether or not Sequoia is then a shareholder of the Company, none
of the Parties shall use, publish or reproduce the name, brand and/or logo of “Sequoia,” “Sequoia Capital” or “红杉,” or any similar names, brands, trademarks or logos, or claim itself a partner of Sequoia or its Affiliates, or make any similar representations, in any discussion, documents or materials or
otherwise, including without limitation for marketing, advertising, promotional or other purposes. Without the prior written consent of Joy Capital, and whether or not Joy Capital is then a shareholder of the Company, none of the Parties shall use,
publish or reproduce the name, brand and/or logo of “Joy Capital,” or any similar names, brands, trademarks or logos, or claim itself a partner of Joy Capital or its Affiliates, or make any similar representations, in any discussion,
documents or materials or otherwise, including without limitation for marketing, advertising, promotional or other purposes. 
  

	12.14   No 	 Use of Series A-2 Investors’ Name or Logo

 Except for the permitted disclosures under Section 12.9 (Confidentiality) hereof, (1) without the prior
written consent of Hillhouse, none of the Parties shall use, publish, reproduce, or refer to the name “Hillhouse,” “Gaoling”, “Lei Zhang”, “张磊”,“高 瓴” or any similar name, trademark or logo in any
discussion, documents or materials, including without limitation for marketing or other purposes; (2) without the prior written consent of Shunwei, none of the Parties shall use, publish, reproduce, or refer to the name “Shunwei,”
“顺为,” “Xiaomi,”
“小米,” or the name of the general partner of Shunwei or Xiaomi, or any similar name, trademark or
logo in any discussion, documents or materials, including without limitation for marketing or other purposes; (3) without the prior written consent of Mount Putuo, none of the Parties shall use, publish, reproduce, or refer to the name
“Tencent,” “腾讯,” or any similar name, trademark or logo in any discussion, documents
or materials, including without limitation for marketing or other purposes; (4) without the prior written consent of Smart Group, none of the Parties shall use, publish, reproduce, or refer to the name “Smart Group”,
“Jingdong,” “JD,” “京东,” or any similar name, trademark or logo in any
discussion, documents or materials, including without limitation for marketing or other purposes. 
  

	12.15   Corporate 	 Opportunity 

It is acknowledged and agreed by each of the Parties (for itself and on behalf of its Subsidiaries and Affiliates) that, notwithstanding the
appointment of an Investor Director or observer by each of the Series A Investors, subject to all applicable Laws and securities regulations, each of the Series A Investors and its respective Affiliates (or in case of Hillhouse NEV Holdings Limited
or Shunwei, its respective Investment Affiliates, where “Investment Affiliates” for the purpose of this Section 12.15 shall mean if applicable, any shareholder of Hillhouse NEV Holdings Limited or Shunwei (as the case may be),
any fund managing company managing such shareholder or Hillhouse NEV Holdings Limited or Shunwei (as the case may be), and other funds managed by such fund managing company) shall forever be entitled to, directly or indirectly: 

  
 -54- 

	 	(i)	 acquire, transfer, enter into any derivative or similar transaction, or otherwise enter into a contract in
respect of the Equity Securities of the Group Companies or any other Person; 

  

	 	(ii)	 enter into any agreement, arrangement or understanding with, or otherwise acquire, hold or dispose of Equity
Securities in, (1) any publically listed, traded or quoted company, regardless of whether such company carries out the Competing Business, and/or (2) with respect to a Series A Investor (regardless whether such Series A Investor
concurrently holds any Series B Preferred Shares, any Series C Preferred Shares or any Series D Preferred Shares), only after the applicable Investor Restrictive Investment Cutoff Date of such Series A Investor, any private company which carries out
the Competing Business. For the avoidance of doubt, regardless whether such Series A Investor concurrently holds any Series B Preferred Shares, any Series C Preferred Shares or any Series D Preferred Shares, (a) within the applicable Investor
Restrictive Investment Period for each Series A Investor, such Series A Investor and its respective Affiliates (or in case of Hillhouse NEV Holdings Limited or Shunwei, its respective Investment Affiliates) shall not enter into any agreement,
arrangement or understanding with, or otherwise acquire or hold Equity Securities in, any private company which carries out the Competing Business, (b) notwithstanding anything provided to the contrary herein, for purposes of this subsection
(ii), Competing Business shall not include the business of (A) the design, manufacture or sale of any vehicles other than electric automobiles (电动汽车), (B) the design, manufacture or
sale of the parts, components and accessory products for any vehicles (including new energy automobiles (electric cars)), (C) the provision of automobile-related services, (D) low-speed electric cars, and
(E) charging networks, (c) upon prior written consent of the Founder Vehicles with respect to a particular private company which carries out the Competing Business, each of the Series A Investors and its respective Affiliates (or in case
of Hillhouse NEV Holdings Limited or Shunwei, its respective Investment Affiliates) may enter into any agreement, arrangement or understanding with, or otherwise acquire or hold Equity Securities in, such private company which carries out the
Competing Business within the applicable Investor Restrictive Investment Period, and (d) the restrictions under this Section 12.15 (ii) shall exclude any agreement, arrangement or understanding with, or any acquisition of or investment in
any private company which carries out the Competing Business, (A) by any Series A Investor which has occurred prior to the closing of the purchase and sale of its respective Preferred Shares, and (B) by Tencent though the fund currently
being formed by an Affiliate of Tencent and certain third parties, the name and basic information of which fund shall be disclosed to the Company upon its establishment. 

  
 -55- 

	 	(iii)	 refer a business or investment opportunity of any nature (the “Corporate Opportunity”)
to any Person whatsoever (whether or not having any affiliation to the Group Companies), except for a Corporate Opportunity that is expressly directed to the Investor Director in his capacity as a Director of the Company (the “Company
Opportunity”), provided that a Company Opportunity is referred to the Company on a first refusal basis, the Company acknowledges and agrees that such Investor Director shall not be in breach of any fiduciary duty or duty of confidentiality
for referring a Corporate Opportunity to any person. Any Company Opportunity not pursued by the Company may be referred to any other Person by such Investor and such Investor Director. 

 

	12.16   Business 	 Cooperation with Tencent 

Each of the Warrantors jointly and severally undertakes to Tencent that, as long as Tencent holds any Preferred Shares in the Company, in the
event any Group Company proposes to cooperate with any internet company (the “Proposed Cooperation”), such Group Company shall first notify Tencent of the scope and terms of the Proposed Cooperation in reasonable
detail. Tencent shall have the right to request such Group Company to grant a cooperation opportunity covering substantially similar scope and terms to Tencent or an appropriate Affiliate of Tencent, and such Group Company shall grant such
cooperation opportunity to Tencent or an appropriate Affiliate of Tencent, or cause any existing cooperation between any Group Company and Tencent (or an Affiliate of Tencent) to cover substantially similar scope and terms of the Proposed
Cooperation, in each case on the terms and conditions no less favorable than those of the Proposed Cooperation (the “Special Cooperation Right”). The Warrantors further agree that in case Xiaomi Corporation or any of its Affiliates
(other than Shunwei) becomes a holder of Preferred Shares of the Company, as long as Xiaomi Corporation or such Affiliate holds any Preferred Shares in the Company, the Warrantors shall, and shall cause the Group Companies to, grant Xiaomi
Corporation or such Affiliate the Special Cooperation Right identical to the Special Cooperation Right granted to Tencent hereunder. 
  

	12.17   Sole 	 Distributor 

Wholly-owned PRC subsidiaries of the Company shall be the only distributors of any products manufactured by any PRC Group Company and/or any
partner of the Group, including but not limited to Anhui Jianghuai Automobile Co., Ltd. 

	12.18   Intellectual 	 Property 

All Company Owned IP and Company Registered IP shall be owned by, licensed to, registered for and/or applied for in the name of any Group
Company. 

  
 -56- 

	12.19   Non-Compete	 

  

	 	(i)	 The Founder hereby undertakes and the Warrantors shall cause the Founder to undertake to the Company and the
Investors that for a period as long as the Founder holds any position of chairman, director or management personnel in any Group Company, and at any time prior to the third anniversary from the date he ceases to hold such position in any Group
Company (whichever is later), he will not, without the prior written consent of the holders of at least 75% of the voting power of the then outstanding Series A-2 Preferred Shares, Series A-3 Preferred Shares, Series B Preferred Shares, Series C Preferred Shares and Series D Preferred Shares (voting together as a single class and calculated on as-converted
basis) either on his own account or through any of his Affiliates or in conjunction with or on behalf of any other Person: 

  

	 	(1)	 Unless the employment of the Founder is terminated by any Group Company without Cause, carry on or be engaged,
concerned or interested directly or indirectly whether as shareholder, director, employee, partner, agent, advisor or otherwise carry on any business in direct competition with the primary business then operated by the Group Companies in the PRC and
any other geographic territory in which the Group Companies then actively operate (except for the Founder’s interest in
湖北蔚来长江新能源产业发展基金合伙企业(有限合伙));

  

	 	(2)	 Solicit or entice away or attempt to solicit or entice away from any Group Company, any Person who is or shall
at any time within twelve (12)    months prior to such solicitation have been a customer, client, representative or agent of such Group Company or in the habit of dealing with such Group Company; or 

 

	 	(3)	 Employ, solicit or entice away or attempt to employ, solicit or entice away from any Group Company, any person
who is or shall have been at the date of or within twelve (12) months prior to such cessation an officer, manager, consultant or employee of any such Group Company whether or not such person would commit a breach of contract by reason of
leaving such employment (other than pursuant to advertisements of general circulation). 

  

	 	(ii)	 Each and every obligation under this Section 12.19 shall be treated as a separate obligation and shall be
severally enforceable as such and in the event of any obligation or obligations being or becoming unenforceable in whole or in part, such part or parts which are unenforceable shall be deleted from such section and any such deletion shall not affect
the enforceability of the remainder parts of such section. 

  

	 	(iii)	 If any restrictions in this Section 12.19 shall be adjudged to be invalid or unenforceable as being in
excess of what is reasonably required for the protection of the Group or the Investors, but would be valid if parts of this Section were deleted or the scope herein reduced, all restrictions in this Section shall apply with such modifications as may
be necessary to make them legally valid and effective. 

  
 -57- 

 The Warrantors shall cause each Key Employee of the Group Companies to comply with the non-compete agreement executed between such Key Employee and the relevant Group Company. 
 12.20 Triple-Class
Structure and Super Voting Rights  
 The Company shall procure, and each Shareholder shall procure that, immediately prior to the
closing of a Qualified IPO of the Company: 
  

	 	(i)	 except for the Ordinary Shares and Preferred Shares beneficially owned by Tencent and the Founder Vehicles,
each fully paid Preferred Share shall be converted into the number of fully paid and non-assessable Ordinary Share(s) to be designated as class A Ordinary Share(s) based on the applicable Preferred Share
Conversion Price then in effect, and each fully paid and non-assessable Ordinary Share held by the other Shareholders shall be designated as class A Ordinary Share, as the case may be. Each class A Ordinary
Share shall be entitled to one (1) vote on all matters subject to the vote at general meetings of the Company; 

  

	 	(ii)	 each fully paid Preferred Share held by Tencent shall be converted into the number of fully paid and non-assessable Ordinary Share(s) to be designated as class B Ordinary Share(s) based on the applicable Preferred Share Conversion Price then in effect, and each fully paid and
non-assessable Ordinary Share held by Tencent shall be designated as Class B Ordinary Share, as the case may be. Each class B Ordinary Share shall be entitled to four (4) votes on all matters subject
to the vote at general meetings of the Company; and 

  

	 	(iii)	 each fully paid Preferred Share held by the Founder Vehicles shall be converted into the number of fully paid
and non-assessable Ordinary Share(s) to be designated as class C Ordinary Share(s) based on the applicable Preferred Share Conversion Price then in effect, and each fully paid and non-assessable Ordinary Share held by Founder Vehicles shall be designated as Class C Ordinary Share, as the case may be. Each class C Ordinary Share shall be entitled to eight (8) votes on all matters
subject to the vote at general meetings of the Company. 

  

	12.21 Stock	 Incentive Plan Arrangements 

Subject to Section 10 in this Agreement, the Company shall procure, and each Shareholder shall procure that: 

 

	 	(i)	 immediately after the Initial Closing, the aggregate number of Ordinary Shares (and/or options or warrants
therefore) reserved for issuance to officers, directors, employees and consultants of the Group Companies pursuant to the Stock Incentive Plans shall be increased by 23,000,000 Ordinary Shares; and 

 

	 	(ii)	 as soon as practicable after the Initial Closing, a new Stock Incentive Plan shall be adopted, which shall be
effective for a period of five (5) years starting from January 1 of the year following the completion of a Qualified IPO and shall include appropriate provisions to the effect that the maximum number of shares which may be issued pursuant
to such Stock Incentive Plan shall be automatically increased each year by the number of shares representing 1.5% of the then total issued and outstanding share capital of the Company as of the end of each preceding year. 

  
 -58- 

	13.	 MISCELLANEOUS 

 

	13.1	 UBS PLNs 

  

	 	(i)	 Notwithstanding any provision of any Series D Transaction Document, each Party hereby acknowledges and agrees
as follows: 

 (1) UBS AG, London Branch (the “UBS”) or its Affiliates intends, and UBS or its Affiliates
is permitted, to enter into PLNs; 
 (2) UBS shall procure that a PLN Beneficiary shall not enter into a PLN Transfer unless the prior
written consent of the Company is obtained; provided that such prior written consent from the Company shall no longer be required after the end of the “market stand-off” period under Section 6.3
in this Agreement (such period not to exceed one hundred and eighty (180) days from the date of the final prospectus relating to the Company’s IPO); 

(3) UBS undertakes to include in the documentation that it or its Affiliate enters into with a PLN Beneficiary, a restriction on PLN
Beneficiaries transferring or having the effect of transferring, to any Person, in whole or in part, all or any of the economic benefits, interests, risks or other consequences of the relevant PLN without first obtaining the prior consent of UBS,
and UBS undertakes not to provide such consent unless it receives the prior written consent of the Company; and 
 (4) UBS may disclose the
Confidential Information (including for the avoidance of doubt, the documents, reports and information referred to in Section 8.1 in this Agreement) that UBS has obtained in its capacity as a Shareholder to a PLN Beneficiary, provided that
(a) UBS shall have included in the documentation that it or its Affiliate enters into with a PLN Beneficiary the confidential nature of the Confidential Information and shall also have provided in such documentation that a PLN Beneficiary shall
be bound by the nondisclosure obligations under the Series D Transaction Documents to the same extent as though the PLN Beneficiary were a party thereto and (b) UBS and/or the relevant PLN Beneficiary grants third party rights to the Company
under the Contracts (Rights of Third Parties) Ordinance (Chapter 623 of the Laws of Hong Kong and all applicable laws and regulations) to enforce against such PLN Beneficiary any breach of such nondisclosure obligations by such PLN Beneficiary. 

 

	 	(ii)	 Without prejudice to the generality of Section 13.1(i) in this Agreement, notwithstanding any provision of
any Series D Transaction Document, each Party hereby specifically acknowledges and agrees that the “market stand-off” restrictions under Section 6.3(ii) in this Agreement shall not apply to a
PLN, provided, however, that for the avoidance of doubt, UBS, as a Shareholder of the Company, shall in all other respects be subject to the “market stand-off” restrictions under Section 6.3(ii)
in this Agreement. 

  
 -59- 

	 	(iii)	 Without prejudice to the generality of Section 13.1(i) in this Agreement, notwithstanding any provision of
any Series D Transaction Document, each Party hereby specifically acknowledges and agrees that, in respect of a PLN or proposed PLN (or a PLN Transfer or proposed PLN Transfer), (i) no PLN Beneficiary shall be required to execute a Deed of Adherence
as result of Section 2.1(v) of the Right of First Refusal & Co-Sale Agreement and (ii) the rights of first refusal under Section 2.2 of the Right of First Refusal & Co-Sale Agreement and the right of co-sale under Section 2.3 of the Right of First Refusal & Co-Sale Agreement shall not
apply, provided, however, that for the avoidance of doubt, UBS, as a Shareholder of the Company, shall in all other respects be subject to the rights of first refusal under Section 2.2 of the Right of First Refusal & Co-Sale Agreement and the right of co-sale under Section 2.3 of the Right of First Refusal & Co-Sale Agreement.

  

	13.2	 Effectiveness and Termination 

 

	 	(i)	 This Agreement shall take effect as of the Initial Closing Date with respect to all the Parties which have duly
executed this Agreement as of the Initial Closing, and shall take effect as of the applicable Additional Closing Date with respect to any Additional Series D Investor which has duly executed the Deed of Adherence with the Company as of an Additional
Closings, provided however that (1) in the event that any Series D Investor (including any Additional Series D Investor) fails to pay any portion of its Series D Investment Amount (as defined in the Purchase Agreement or as specified in the
applicable Deed of Adherence, as the case may be) in full upon the applicable Closing and the Company has amended the register of members in accordance with Sections 2.4(i)(d) or 2.4(ii)(e) of the Purchase Agreement and/or the Memorandum and
Articles to reflect the forfeiture of the Series D Preferred Shares of such Series D Investor corresponding to the unpaid Series D Investment Amount, then this Agreement shall have effect with respect to such Series D Investor only to the extent of
its unforfeited Series D Preferred Shares, and (2) in the event that any Shareholder ceases to be a Shareholder of the Company, it shall no longer be bound by the provisions of this Agreement and such Shareholder’s name shall be removed
from any list or register of members of the Company, provided that Sections 12.9 (Confidentiality), 12.10 (No use of Series D Investors’ Name or Logo), 12.11 (No Use of Series C Investors’ Name or Logo),
12.12 (No Use of Series B Investors’ Name or Logo), 12.13 (No Use of Series A-3 Investors’ Name or Logo), 12.14 (No Use of Series A-2 Investors’ Name or
Logo), 13.5 (Governing Law) and 13.6 (Dispute Resolution) shall survive. 

  

	 	(ii)	 This Agreement shall terminate upon mutual consent of all the Parties hereto. The provisions of Sections 7
(Preemptive Right), 8 (Information and Inspection Rights), 9 (Corporate Governance), 10 (Protective Provisions) and 11 (Drag-Along Rights) shall terminate on the consummation of a Qualified IPO. If this Agreement
terminates, the Parties shall be released from their obligations under this Agreement, except in respect of any obligation stated, explicitly or otherwise, to continue to exist after the termination of this Agreement (including without limitation
those under Section 2 through 6, Section 12 (Additional Covenants) and this Section 13). If any Party breaches this Agreement before the termination of this Agreement, it shall not be released from its obligations arising from
such breach on termination. 

  
 -60- 

	13.3	 Further Assurances 

Upon the terms and subject to the conditions herein, each of the Parties hereto agrees to use its reasonable best efforts to take or cause to
be taken all action, to do or cause to be done, to execute such further instruments, and to assist and cooperate with the other Parties hereto in doing, all things necessary, proper or advisable under applicable Laws or otherwise to consummate and
make effective, in the most expeditious manner practicable, the transactions contemplated by this Agreement and, to the extent reasonably requested by another Party, to enforce rights and obligations pursuant hereto. 

 

	13.4	 Assignments and Transfers; No Third Party Beneficiaries 

Except as otherwise provided herein, this Agreement and the rights and obligations of the Parties hereunder shall inure to the benefit of, and
be binding upon, their respective successors, assigns and legal representatives, but shall not otherwise be for the benefit of any third party. Subject as otherwise provided herein, the rights of any Investor hereunder are assignable to any Person
in connection with the transfer (which transfer does not breach any provision of the Series D Transaction Documents and any applicable Laws) of Equity Securities held by such Investor but only to the extent of such transfer, and any such transferee
shall execute and deliver to the Company a Deed of Adherence in the form attached hereto as Exhibit A becoming a party hereto as a “Party,” a “Shareholder,” and an “Investor” hereunder and under the applicable Series D
Transaction Documents, subject to the terms and conditions hereof and thereof. Subject to the foregoing, this Agreement and the rights and obligations of any Party hereunder shall not otherwise be assigned without the mutual written consent of the
other Parties. 
 Notwithstanding any provision to the contrary in this Agreement, the Parties hereby acknowledge and agree that Padmasree
shall be able to tender of any of her Series A-3 Preferred Shares from time to time for all or a portion of any amounts due to the Company pursuant to the Loan and Security Agreement. 

 

	13.5	 Governing Law 

This Agreement shall be governed by and construed under the Laws of Hong Kong, without regard to principles of conflict of laws thereunder.

  

	13.6	 Dispute Resolution. 

 

	 	(i)	 Any dispute, controversy or claim (each, a “Dispute”) arising out of or relating to this
Agreement, or the interpretation, breach, termination, validity or invalidity thereof, shall be referred to arbitration upon the demand of either party to the dispute with notice (the “Arbitration Notice”) to the other.

  
 -61- 

	 	(ii)	 The Dispute shall be settled by arbitration in Hong Kong by the Hong Kong International Arbitration Centre (the
“HKIAC”) in accordance with the Hong Kong International Arbitration Centre Administered Arbitration Rules (the “HKIAC Rules”) in force when the Arbitration Notice is submitted in accordance with the HKIAC Rules. The
arbitration tribunal shall consist of three (3) arbitrators to be appointed according to the HKIAC Rules. 

  

	 	(iii)	 To the extent that the HKIAC Rules are in conflict with the provisions of this Section 13.6, the
provisions of this Section 13.6 shall prevail. 

  

	 	(iv)	 The arbitration shall be conducted in English. Each party to the arbitration shall cooperate with each other
party to the arbitration in making full disclosure of and providing complete access to all information and documents requested by such other party in connection with such arbitral proceedings, subject only to any confidentiality obligations binding
on such party. 

  

	 	(v)	 The award of the arbitral tribunal shall be final and binding upon the parties thereto, and the prevailing
party may apply to a court of competent jurisdiction for enforcement of such award. 

  

	 	(vi)	 The arbitral tribunal shall decide any Dispute submitted by the parties to the arbitration strictly in
accordance with the substantive Law of Hong Kong (without regard to principles of conflict of Laws thereunder) and shall not apply any other substantive Law. 

  

	 	(vii)	 Any party to the Dispute shall be entitled to seek preliminary injunctive relief, if possible, from any court
of competent jurisdiction pending the constitution of the arbitral tribunal. 

  

	 	(viii)	 During the course of the arbitral tribunal’s adjudication of the Dispute, this Agreement shall continue to
be performed except with respect to the part in dispute and under adjudication. 

  

	13.7	 Notices 

Any notice required or permitted pursuant to this Agreement shall be given in writing and shall be given either personally or by sending it by next-day or second-day courier service, fax, electronic mail or similar means to the address of the relevant Party as shown on Schedule 2 (Address for Notices) (or at
such other address as such Party may designate by fifteen (15) days’ advance written notice to the other Parties to this Agreement given in accordance with this Section 13.7). Where a notice is sent by
next-day or second-day courier service, service of the notice shall be deemed to be effected by properly addressing, pre-paying
and sending by next-day or second-day service through an internationally-recognized courier a letter containing the notice, with a written confirmation of delivery, and
to have been effected at the earlier of (i) delivery (or when delivery is refused) and (ii) expiration of two (2) Business Days after the letter containing the same is sent as aforesaid. Where a notice is sent by fax or electronic
mail, service of the notice shall be deemed to be effected by properly addressing, and sending such notice through a transmitting organization, with a written confirmation of delivery, and to have been effected on the day the same is sent as
aforesaid, if such day is a Business Day and if sent during normal business hours of the recipient, otherwise the next Business Day. Notwithstanding the foregoing, to the extent a “with a copy to” address is designated, notice must also be
given to such address in the manner above for such notice, request, consent or other communication hereunder to be effective. 

  
 -62- 

	13.8     Expenses	 

If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing Party shall be entitled to
reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such Party may be entitled. 

13.9     Rights Cumulative; Specific Performance 

Each and all of the various rights, powers and remedies of a Party hereto will be considered to be cumulative with and in addition to any other
rights, powers and remedies which such Party may have at Law or in equity in the event of the breach of any of the terms of this Agreement. The exercise or partial exercise of any right, power or remedy will neither constitute the exclusive election
thereof nor the waiver of any other right, power or remedy available to such Party. Without limiting the foregoing, the Parties hereto acknowledge and agree irreparable harm may occur for which money damages would not be an adequate remedy in the
event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties shall be entitled to apply for injunction to prevent breaches of this
Agreement and to enforce specifically the terms and provisions of this Agreement. 

13.10   Successor Indemnification 

If any Warrantor or any of its successors or assignees consolidates with or merges into any other Person and is not the continuing or surviving
corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of such Warrantor assume the obligations of such Warrantor with respect to indemnification of
the Investor Director as in effect immediately before such transaction, whether such obligations are contained in the Charter Documents, or elsewhere, as the case may be. 
  

	13.11   Severability	 

In case any provision of the Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby. If, however, any provision of this Agreement shall be invalid, illegal, or unenforceable under any such applicable Law in any jurisdiction, it shall, as to such jurisdiction, be deemed
modified to conform to the minimum requirements of such Law, or, if for any reason it is not deemed so modified, it shall be invalid, illegal, or unenforceable only to the extent of such invalidity, illegality, or limitation on enforceability
without affecting the remaining provisions of this Agreement, or the validity, legality, or enforceability of such provision in any other jurisdiction. 

  
 -63- 

 13.12   Amendments and Waivers 

Any provision in this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and
either retroactively or prospectively), only by the written consent of (i) the Company; (ii) the holders of at least a majority of the then issued and outstanding Series A-1 Preferred Shares;
(iii) the holders of at least seventy-five percent (75%) of the then issued and outstanding Series A-2 Preferred Shares; (iv) the holders of at least a majority of the then issued and outstanding
Series A-3 Preferred Shares; (v) the holders of at least seventy-five percent (75%) of the then issued and outstanding Series B Preferred Shares, (vi) the holders of at least seventy-five percent
(75%) of the then issued and outstanding Series C Preferred Shares, , (vii) the holders of at least seventy-five percent (75%) of the then issued and outstanding Series D Preferred Shares, and (viii) Prime Hubs; provided, however, that no
amendment or waiver shall be effective or enforceable in respect of any Ordinary Holder or a holder of Preferred Shares if such amendment or waiver affects such Ordinary Holder or such holder of Preferred Shares, respectively, materially and
adversely differently from the other Ordinary Holders or the other holders of the Preferred Shares of the same class or series, respectively, unless such Ordinary Holder or such holder of Preferred Shares consents in writing to such amendment or
waiver. Notwithstanding the foregoing, any Party may waive any of its/his rights hereunder by an instrument in writing signed by such Party without obtaining the consent of any other Parties. Any amendment or waiver effected in accordance with this
Section 13.12 shall be binding upon all the Parties hereto. 
 13.13   No Waiver 

Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof will not be deemed a waiver of such term,
covenant, or condition, nor will any waiver or relinquishment of, or failure to insist upon strict compliance with, any right, power or remedy hereunder at any one or more times be deemed a waiver or relinquishment of such right, power or remedy at
any other time or times. 
 13.14   Delays or Omissions 

No delay or omission to exercise any right, power or remedy accruing to any Party under this Agreement, upon any breach or default of any other
Party under this Agreement, shall impair any such right, power or remedy of such non-breaching or non-defaulting Party nor shall it be construed to be a waiver of any
such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter
occurring. Any waiver, permit, consent or approval of any kind or character on the part of any Party of any breach or default under this Agreement, or any waiver on the part of any Party of any provisions or conditions of this Agreement, must be in
writing and shall be effective only to the extent specifically set forth in such writing. 

  
 -64- 

 13.15   No Presumption 

The Parties acknowledge that any applicable Law that would require interpretation of any claimed ambiguities in this Agreement against the
Party that drafted it has no application and is expressly waived. If any claim is made by a Party relating to any conflict, omission or ambiguity in the provisions of this Agreement, no presumption or burden of proof or persuasion will be implied
because this Agreement was prepared by or at the request of any Party or its counsel. 
  

	13.16   Counterparts	 

This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Facsimile and e-mailed copies of signatures shall be deemed to be originals for purposes of the effectiveness of this Agreement. 

13.17   Entire Agreement 

This Agreement (including the Exhibits hereto) constitutes the full and entire understanding and agreement among the Parties with regard to the
subjects hereof, and supersedes all other agreements between or among any of the Parties with respect to the subject matter hereof. Without limiting the generality of the foregoing, this Agreement supersedes, in its entirety, the Prior Shareholders
Agreement, which shall terminate and have no further force or effect whatsoever as of the date of effectiveness of this Agreement, and the Parties hereby irrevocably waive any and all rights that they may have against any other party under the Prior
Shareholders Agreement in exchange for their rights hereunder. 
  

	13.18   Control	 

In the event of any conflict or inconsistency between any of the terms of this Agreement and any of the terms of any of the Charter Documents
of any of the Group Companies and Prime Hubs, or in the event of any dispute related to any such Charter Document, the terms of this Agreement shall prevail in all respects as among all the Parties other than the Company, the Parties shall give full
effect to and act in accordance with the provisions of this Agreement over the provisions of the Charter Documents, and the Parties hereto shall exercise all voting and other rights and powers (including to procure any required alteration to such
Charter Documents to resolve such conflict or inconsistency) to make the provisions of this Agreement effective, and not to take any actions that impair any provisions in this Agreement. 

 

	13.19   Performance	 

The Ordinary Holders irrevocably agree to cause and guarantee the performance by each Warrantor of all of its respective covenants and
obligations under this Agreement. 
 13.20   Aggregation of Shares 

All Shares held or acquired by any Affiliates shall be aggregated together for the purpose of determining the availability of any rights under
this Agreement. 

  
 -65- 

	13.21   Adjustments	 for Share Splits, Etc 

Wherever in this Agreement there is a reference to a specific number of Shares of the Company, then, upon the occurrence of any subdivision,
combination or share dividend of the relevant class or series of the Shares, the specific number of shares so referenced in this Agreement shall automatically be proportionally adjusted to reflect the effect on the outstanding shares of such class
or series of Shares by such subdivision, combination or share dividend. 
  

	13.22   Grant	 of Proxy 

Upon the failure of any Ordinary Holder to vote the Equity Securities of the Company held thereby, to implement the provisions of and to
achieve the purposes of this Agreement, such Ordinary Holder hereby grants to a Person designated by the Company a proxy in all Equity Securities of the Company held by it/him to vote all such Equity Securities to implement the provisions of and to
achieve the purposes of this Agreement. 
  

	13.23   Rights	 and Obligations of Holders of Preferred Shares 

Under the Series D Transaction Documents, (i) the obligations of the holders of the Preferred Shares shall be several and not joint,
(ii) the Series A-1 Preferred Shares, the Series A-2 Preferred Shares, and the Series A-3 Preferred Shares shall rank pari
passu with each other, except as otherwise provided in the Series D Transaction Documents, (iii) the Series B Preferred Shares shall rank prior and in preference to the Series A Preferred Shares, except as otherwise provided in the Series D
Transaction Documents, (iv) the Series C Preferred Shares shall rank prior and in preference to the Series B Preferred Shares and the Series A Preferred Shares, except as otherwise provided in the Series D Transaction Documents, and
(v) the Series D Preferred Shares shall rank prior and in preference to the Series C Preferred Shares, the Series B Preferred Shares and the Series A Preferred Shares, except as otherwise provided in the Series D Transaction Documents. 

 

	13.24   Use	 of English Language 

This Agreement has been executed and delivered in the English language. Any translation of this Agreement into another language shall have no
interpretive effect. All documents or notices to be delivered pursuant to or in connection with this Agreement shall be in the English language or, if any such document or notice is not in the English language, accompanied by an English translation
thereof, and the English language version of any such document or notice shall control for purposes thereof. 
  

	13.25   Replacement	 

The Parties agree that upon the Initial Closing, this Agreement shall supersede and replace the Prior Shareholders Agreement in its entirety,
and the Prior Shareholders Agreement shall terminate and have no further force or effect as of the Initial Closing Date. 

  
 -66- 

	13.26 Representations	 and Warranties 

 

	 	(i)	 Each Party hereby represents and warrants to each other Party, as of the date hereof, and as of the effective
date of this Agreement (with respect to an Additional Series D Investor, as of the Additional Closing Date), as follows: 

  

	 	(1)	 such Party, if not a natural person, is duly organized, validly existing and in good standing under the
applicable Law of its jurisdiction of organization/incorporation; 

  

	 	(2)	 such Party is a natural person, or is a corporate body with the legal capacity, power, authority and right to
execute, deliver and perform its obligations under this Agreement, and all actions on its part necessary for the authorization, execution, delivery of and the performance of all of its obligations under this Agreement have been taken;

  

	 	(3)	 this Agreement will when executed be a legal, valid and binding obligation, enforceable against it in
accordance with its terms, except where such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally; and 

 

	 	(4)	 the execution and delivery by such Party of this Agreement and the consummation by it of all the transactions
contemplated hereunder do not (i) breach or constitute (or with notice or lapse of time or both constitute) a default under its constitutional documents, the Prior Shareholders Agreement or any material contract or agreement to which such Party
is bound; and (iii) result in a violation or breach of or constitute (or with notice or lapse of time or both constitute) a default under any applicable Law by which such Party or any of its assets is bound. 

 

	13.27 Exclusion	 of Contracts (Rights of Third Parties) Ordinance 

Save as otherwise expressly provided hereunder, a Person who is not a Party to this Agreement has no right under the Contracts (Rights of Third
Parties) Ordinance (Chapter 623 of the Laws of Hong Kong ) to enforce this Agreement. 
 [The remainder of this page has been
intentionally left blank.] 

  
 -67- 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized representatives
to execute this Agreement as of the date and year first above written. 
  

							
	COMPANY:	 		 	NIO INC.
				
		 		 	By:	 	 /s/ QIN Lihong

		 		 	Name:	 	QIN Lihong

		 		 	Title:	 	Director

  

							
	HK COMPANY:	 		 	NIO NEXTEV LIMITED
				
		 		 	By:	 	 /s/ QIN Lihong

		 		 	Name:	 	QIN Lihong

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	XPT:	 		 	XPT LIMITED	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Director	 	
				
	XPT TECHNOLOGY:	 		 	XPT TECHNOLOGY LIMITED	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Director	 	
				
	XPT US:	 		 	XPT INC.	 	
					
		 		 	By:	 	

	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	SHANGHAI NEXTEV:	 		 	NIO CO., LTD.	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	JIANGSU WEIRAN:	 		 	XPT (JIANGSU) INVESTMENT CO., LTD.	 	
					
		 		 	By:	 	 /s/ LI Bin
	 	

		 		 	Name:	 	LI Bin

	 	
		 		 	Title:	 	Legal Representative	 	
				
	SHANGHAI WEILAN:	 		 	SHANGHAI XPT TECHNOLOGY CO., LTD.	 	
					
		 		 	By:	 	 /s/ LI Bin
	 	

		 		 	Name:	 	LI Bin

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

											
	XPT NANJING TECHNOLOGY	 		 	 XPT (NANJING) E-POWERTRAIN TECHNOLOGY CO., LTD.
	 	

									
					
		 		 	By:	 	/s/ LI Bin	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	XPT NANJING ENERGY	 		 	 XPT (NANJING) ENERGY STORAGE SYSTEM CO., LTD.

					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NIO TECHNOLOGY	 		 	NIO TECHNOLOGY CO., LTD.	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NEXTEV USER	 		 	 NEXTEV USER ENTERPRISE LIMITED
	 	

									
					
		 		 	By:	 	 /s/ QIN Lihong
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
 SHANGHAI AUTO DISTRIBUTION SHANGHAI NIO SALES
AND SERVICE CO., LTD. 
  

					
	By:	 	
/s/ QIN Lihong                 
       
	 	

	Name:	 	
	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NEXTEV POWER	 		 	NEXTEV POWER EXPRESS LIMITED	 	

									
					
		 		 	By:	 	 /s/ QIN Lihong
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	HUBEI INVESTMENT	 		 	NIO ENERGY INVESTMENT (HUBEI) CO., LTD.
					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	SHANGHAI ENERGY	 		 	SHANGHAI NIO ENERGY TECHNOLOGY CO., LTD.
					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	WUHAN ENERGY	 		 	WUHAN NIO ENERGY CO., LTD.	 	
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	BEIJING LIBITE	 		 	BEIJING LIBITE AUTO TECHNOLOGY CO., LTD.
					
		 		 	By:	 	 /s/ QIN Lihong
	 	

		 		 	Name:	 	QIN Lihong

	 	
		 		 	Title:	 	Legal Representative	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	NANJING WEILONG:	 		 	XTRONICS (Nanjing) Automotive Intelligent Technology Co., Ltd.
					
		 		 	By:	 	

	 	

		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	US COMPANY	 		 	NIO USA, INC.
					
		 		 	By:	 	 /s/ Padmasree Warrior
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	GERMAN COMPANY	 		 	NIO GMBH
				
		 		 	By:	 	 /s/ ZHANG Hui

		 		 	Name:	 	ZHANG Hui

		 		 	Title:	 	Managing Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	UK COMPANY	 		 	NIO NEXTEV (UK) LTD
				
		 		 	By:	 	 /s/ Hui Zhang

		 		 	Name:	 	Hui Zhang
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	PRIME HUBS	 		 	 PRIME HUBS LIMITED
  

		 		 	By:	 	 /s/ QIN Lihong

		 		 	Name:	 	QIN Lihong

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	FOUNDER	 		 	 LI BIN

  

		 		 	By:	 	 /s/ LI Bin

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR	 		 	 ORIGINAL WISH LIMITED
  

		 		 	By:	 	 /s/ LI Bin

		 		 	Name:	 	LI Bin

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR	 		 	 MOBIKE GLOBAL LTD.
  

		 		 	By:	 	 /s/ LI Bin

		 		 	Name:	 	LI Bin

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	ENERGY LEE LIMITED

							
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HILLHOUSE NEV HOLDINGS LIMITED
  

		 		 	By:	 	 /s/ Meng Shan

		 		 	Name:	 	Meng Shan
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	SHUNWEI TMT II LIMITED
				
		 		 	By:	 	 /s/ Koh Tuck Lye

		 		 	Name:	 	Koh Tuck Lye
		 		 	Title:	 	Director
			
		 		 	SHUNWEI GROWTH II LIMITED
				
		 		 	By:	 	 /s/ Koh Tuck Lye

		 		 	Name:	 	Koh Tuck Lye
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 SMART GROUP GLOBAL LIMITED
  

		 		 	By:	 	 /s/ Lin Qiang Dong

		 		 	Name:	 	Lin Qiang Dong
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	    MOUNT PUTUO INVESTMENT LIMITED

							
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 SEQUOIA CAPITAL CHINA GF HOLDCO III-A, LTD.

 

		 		 	By:	 	 /s/ Ip Siu Wai Eva

		 		 	Name:	 	Ip Siu Wai Eva
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 JOY CAPITAL I, L.P.
  

		 		 	By:	 	Joy Capital I GP, L.P.
		 		 		 	its general partner
				
		 		 	By:	 	Joy Capital GP, Ltd.
		 		 		 	its general partner
				
		 		 	By:	 	 /s/ LIU ERHAI

		 		 	Name:	 	LIU ERHAI
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 		 	 PADMASREE WARRIOR
  

		 		 		 	 /s/ Padmasree Warrior

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 ANDERSON INVESTMENTS PTE. LTD.
  

		 		 	By:	 	 /s/ Rohit Sobti

		 		 	Name:	 	Rohit Sobti
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 TPG GROWTH III SF PTE. LTD.
  

		 		 	By:	 	 /s/ Hua Fung Teh

		 		 	 Name:
 Title:
	 	 Hua Fung Teh
 Authorised Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 BLUESTONE COMPANY LIMITED
  

		 		 	By:	 	 /s/ Tay Chee Keong Jeremiah Jeremy

		 		 	Name:	 	Tay Chee Keong Jeremiah Jeremy
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR	 	 MAGIC STONE ALTERNATIVE PRIVATE EQUITY FUND,
L.P.

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 ORIENT HONTAI LIMITED
  

		 		 	By:	 	 /s/ Tony Ma

		 		 	Name:	 	Tony Ma

		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 GOLDEN BRICK CAPITAL PRIVATE EQUITY FUND II L.P.

 

		 		 	By:	 	 

  

		 		 	 Name:
 Title:
	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	    ULTIMATE LENOVO LIMITED

							
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HH RSV-X HOLDINGS LIMITED
  

		 		 	By:	 	 /s/ Jennifer Neo

		 		 	Name:	 	Jennifer Neo
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 SCC GROWTH IV HOLDCO A, LTD.
  

		 		 	By:	 	 /s/ Ip Siu Wai Eva

		 		 	Name:	 	Ip Siu Wai Eva
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 PALACE INVESTMENTS PTE. LTD.
  

		 		 	By:	 	 /s/ Choun Chee Kong

		 		 	Name:	 	Choun Chee Kong
		 		 	Title:	 	Authorised signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	GRANDFIELD INVESTMENT LTD.
				
		 		 	By:	 	 /s/ Wong Kok Wai 

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 		 	
		 		 	 IDG CHINA VENTURE CAPITAL FUND IV L.P.

 

		 		 	By:	 	IDG China Venture Capital Fund IV Associates L.P.,
		 		 		 	its General Partner
				
		 		 	By:	 	IDG China Venture Capital Fund GP IV Associates Ltd.,
		 		 		 	its General Partner
				
		 		 	By:	 	 /s/ Chi Sing HO

		 		 	Name:	 	Chi Sing HO
		 		 	Title:	 	Authorized Signatory
			
		 		 	IDG CHINA IV INVESTORS L.P.
				
		 		 	By:	 	IDG China Venture Capital Fund GP IV Associates Ltd.,
		 		 		 	its General Partner
				
		 		 	By:	 	 /s/ Chi Sing HO

		 		 	Name:	 	Chi Sing HO
		 		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	BRIGHT SKY II, L.P.
			
		 		 	By Bright Sky Partners Limited,
		 		 	its General Partner
				
		 		 	By:	 	 /s/ Wong Kok Wai         

		 		 	Name:	 	Wong Kok Wai
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	    LONG WINNER INVESTMENT LIMITED

							
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	BAIDU CAPITAL L.P.

							
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	WEST CITY ASIA LIMITED

							
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 TANZANITE GEM HOLDINGS LIMITED
  

		 		 	By:	 	 /s/ Steven Glenn

		 		 	Name:	 	Steven Glenn
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HAIXIA NEV INTERNATIONAL LIMITED PARTNERSHIP (formerly known as HAIXIA NIO INTERNATIONAL LIMITED PARTNERSHIP)

 

		 		 		 	 For and on behalf of 
 Haixia NEV
International Limited Partnership

				
		 		 	By:	 	

		 		 	Name:	 	Haixia Capital Management Ltd,
		 		 	Title:	 	Authorised Signatory of its General Partner Haixia NEV International Limited Partnership

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 HAITONG INTERNATIONAL INVESTMENT HOLDINGS LIMITED

 

		 		 	By:	 	 /s/ Xi DENG

		 		 	Name:	 	Xi DENG
		 		 	Title:	 	Managing Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	NEW MARGIN CAPITAL HONG KONG CO.,
		 	LIMITED 

			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	   IMAGE FRAME INVESTMENT (HK) LIMITED 

					
			
		 	By:	 	

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 ZHIDE EV INVESTMENT LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	     CHINAEQUITY SMART TRAVEL CO., LTD.

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	   TOTAL PRESTIGE INVESTMENT LIMITED 

					
			
		 	By:	 	 /s/ Wong Kok Wai     

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	CYBER TYCOON LIMITED 
			
		 	By:	 	 /s/ Chi Sing HO

		 	Name:	 	Chi Sing HO
		 	Title:	 	Authorized Signatory

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	   HONOR BEST INTERNATIONAL LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 CHAMPION ELITE GLOBAL LIMITED
 

			
		 	By:	 	 /s/ Jenny Wenjie WU

		 	Name:	 	Jenny Wenjie WU
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 CHINA INDUSTRIAL INTERNATIONAL TRUST ASSET MANAGEMENT COMPANY LIMITED, (formerly known as CHINA INVESTMENT ASSET
MANAGEMENT LIMITED)
 

			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	HF HOLDINGS LIMITED 
			
		 		 	 For and on behalf of
 HF Holdings
Limited

			
		 	By:	 	 

 Authorized Signature(s)
  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	TEA LEAF LIMITED
			
		 	By:	 	 /s/ Karen Ellerbe

		 	Name:	 	Karen Ellerbe
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 BLISSFUL DAYS HOLDINGS LIMITED
 

			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	GUANGFAXINDE CAPITAL MANAGEMENT LIMITED 

				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	BLUEFUTURE FUND L.P.
				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	UBS AG, LONDON BRANCH
				
		 		 	By:	 	 /s/ Saad Slaoui

		 		 	Name:	 	Saad Slaoui
		 		 	Title:	 	Managing Director
				
		 		 	By:	 	 /s/ David Innerdale

		 		 	Name:	 	David Innerdale
		 		 	Title:	 	Managing Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	KEEN EAGLE CAPITAL INVESTMENT LIMITED 

				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	 CHINA OCEANWIDE INTERNATIONAL ASSET MANAGEMENT LIMITED
 

				
		 		 	By:	 	 

  

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	CHINA MERCHANTS FORTUNE 100 ALTERNATIVE INVESTMENT SP	 	
					
		 		 	By:	 	 /s/ Bai Haifeng
	 	

		 		 	Name:	 	Bai Haifeng	 	
		 		 	Title:	 	CEO	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	MORESPARK LIMITED
				
		 		 	By:	 	

		 		 	Name:	 	
		 		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	LEAP PROSPECT LIMITED
				
		 		 	By:	 	 /s/ Ling Kay Rodney Tsang

		 		 	Name:	 	Ling Kay Rodney Tsang
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	PV VISION LIMITED
				
		 		 	By:	 	 /s/ Ena Leung

		 		 	Name:	 	Ena Leung
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

							
	INVESTOR:	 		 	SERENITY WL HOLDINGS LTD.
				
		 		 	By:	 	 /s/ Wang Chen

		 		 	Name:	 	Wang Chen
		 		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
 INVESTOR: 

 

									
		 		 	SCOTTISH MORTGAGE INVESTMENT TRUST PLC.	 	
					
		 		 	By:	 	 /s/ Graham Laybourn
	 	
		 		 	Name:	 	Graham Laybourn	 	
		 		 	Title:	 	Partner of Baillie Gifford & Co, as agent for and on behalf of Scottish Mortgage Investment Trust plc	 	
				
		 		 	PACIFIC HORIZON INVESTMENT TRUST PLC.	 	
					
		 		 	By:	 	 /s/ Graham Laybourn
	 	
		 		 	Name:	 	Graham Laybourn	 	
		 		 	Title:	 	Partner of Baillie Gifford & Co, as agent for and on behalf of Pacific Horizon Investment Trust plc	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	MARIAD OPPORTUNITIES MASTER FUND LIMITED
					
		 		 	By:	 	 /s/ Scott A. Gaynor
	 	
		 		 	Name:	 	Scott A. Gaynor	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	LONE CYPRESS LTD.
					
		 		 	By:	 	 /s/ Kerry A. Tyler
	 	
		 		 	Name:	 	Kerry A. Tyler	 	
		 		 	Title:	 	Authorized Signatory	 	
			
		 		 	LONE SPRUCE L.P.
					
		 		 	By:	 	 /s/ Kerry A. Tyler
	 	
		 		 	Name:	 	Kerry A. Tyler	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	ULTRA RESULT HOLDINGS LIMITED
					
		 		 	By:	 	 

  
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	AL NAHDHA INVESTMENT LLC
					
		 		 	By:	 	 /s/ H.E. Saeed Eid Al Ghafli
	 	
		 		 	Name:	 	H.E. Saeed Eid Al Ghafli	 	
		 		 	Title:	 	Authorized Signatory	 	
				
		 		 	AL BEED GROUP	 	
					
		 		 	By:	 	 /s/ H.E. Saeed Eid Al Ghafli
	 	
		 		 	Name:	 	H.E. Saeed Eid Al Ghafli	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	OLDBRIDGE INVEST LLC
					
		 		 	By:	 	 /s/ Galal Kulaib
	 	
		 		 	Name:	 	Galal Kulaib	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	AC LIMITED
					
		 		 	By:	 	 /s/ Ossama Khoreibi
	 	
		 		 	Name:	 	Ossama Khoreibi	 	
		 		 	Title:	 	Director	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	BEST CASTLE LIMITED
					
		 		 	By:	 	 

  
	 	
		 		 	Name:	 		 	
		 		 	Title:	 		 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	HUBEI SCIENCE & TECHNOLOGY INVESTMENT GROUP (HONG KONG) COMPANY LIMITED	 	
					
		 		 	By:	 	 

  
	 	
		 		 	Name:	 	

	 	
		 		 	Title:	 	Director of Company	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

									
	INVESTOR:	 		 	WP NIO INVESTMENT PARTNERSHIP L.P.	 	
					
		 		 	By:	 	 /s/ Steven Glenn
	 	
		 		 	Name:	 	Steven Glenn	 	
		 		 	Title:	 	Authorized Signatory	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	  LEZMENIA ASSETS LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

					
		
		 	  LAPATHIA HOLDINGS LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	SILVER RIDGE FUND I LIMITED PARTNERSHIP
			
		 		 	For and on behalf of
		 		 	Silver Ridge Ventures Limited
			
		 	By:	 	 

 Authorized Signature(s)
  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	THE MABEL CHAN 2012 FAMILY TRUST
			
		 	By:	 	 /s/ Ed Yiu-Cheong Chan

		 	Name:	 	Ed Yiu-Cheong Chan
		 	Title:	 	Trustee

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	    MAGIC STONE SPECIAL OPPORTUNITY FUND IV, L.P.

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	MEGA TREASURE INVESTMENT LIMITED
			
		 	By:	 	 /s/ Wong Kok Wai     

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	JOY NEXT INVESTMENT MANAGEMENT LIMITED
			
		 	By:	 	 /s/ LIU ERHAI

		 	Name:	 	LIU ERHAI
		 	Title:	 	Director

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	 DIAMOND DIVISION LIMITED

					
			
		 	By:	 	 

  

		 	Name:	 	
		 	Title:	 	

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 IN WITNESS WHEREOF, the parties hereto have caused their respective duly authorized
representatives to execute this Agreement as of the date and year first above written. 
  

					
	INVESTOR:	 	HH DYU HOLDINGS LIMITED
			
		 	By:	  	 /s/ Meng Shan

		 	Name:	  	Meng Shan
		 	Title:	  	Director

  

  
 Signature Page to Fifth
Amended and Restated Shareholders’ Agreement - NIO INC. 

 SCHEDULE 1 

LIST OF INVESTORS 
 Part
A1 
  

	1.	 ORIGINALWISH LIMITED, a business company with limited liability duly incorporated and validly
existing under the Laws of the British Virgin Islands (“Originalwish”); 

  

	2.	 MOBIKE GLOBAL LTD., a business company with limited liability duly incorporated and validly
existing under the Laws of the British Virgin Islands (“mobike Global”); and 

  

	3.	 ENERGY LEE LIMITED, a business company with limited liability duly incorporated and validly
existing under the Laws of the British Virgin Islands (“Energy”). 

 Part A2 

 

	4.	 HILLHOUSE NEV HOLDINGS LIMITED, an exempted company duly incorporated and validly existing under
the Laws of the British Virgin Islands; 

  

	5.	 SHUNWEI TMT II LIMITED, an exempted company duly incorporated and validly existing under the Laws
of the British Virgin Islands (“Shunwei TMT”), and SHUNWEI GROWTH II LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Shunwei Growth”,
together with Shunwei TMT, “Shunwei”); 

  

	6.	 SMART GROUP GLOBAL LIMITED, a business company duly incorporated and validly existing under the
Laws of the British Virgin Islands (“Smart Group”); and 

  

	7.	 MOUNT PUTUO INVESTMENT LIMITED, an exempted company duly incorporated and validly existing under
the Laws of the British Virgin Islands (“Mount Putuo”). 

 Part A3 

 

	8.	 SEQUOIA CAPITAL CHINA GF HOLDCO III-A, LTD., an exempted
company duly incorporated and validly existing under the Laws of the Cayman Islands (“Sequoia”); 

  

	9.	 JOY CAPITAL I, L.P., an exempted limited partnership duly registered and validly existing under
the Laws of the Cayman Islands (“Joy Capital”); and 

  

	10.	 PADMASREE WARRIOR, a U.S. citizen whose passport number is *********
(“Padmasree”). 

  
 - 41 - 

 Part B 
  

	11.	 ANDERSON INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore (“Temasek”); 

  

	12.	 TPG GROWTH III SF PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore (“TPG”); 

  

	13.	 BLUESTONE COMPANY LIMITED, a company limited by shares duly incorporated and validly existing
under the Laws of the Cayman Islands (“Bluestone”); 

  

	14.	 MAGIC STONE ALTERNATIVE PRIVATE EQUITY FUND, L.P., an exempted limited partnership duly
registered and validly existing under the Laws of the Cayman Islands(“Magic Stone”); 

  

	15.	 ORIENT HONTAI LIMITED, a business company duly incorporated and validly existing under the Laws
of the British Virgin Islands (“Orient Hontai”); 

  

	16.	 GOLDEN BRICK CAPITAL PRIVATE EQUITY FUND II L.P., an exempted limited partnership duly registered
and validly existing under the Laws of the Cayman Islands (“Golden Brick”); 

  

	17.	 ULTIMATE LENOVO LIMITED, a limited liability company duly incorporated and validly existing under
the Laws of the British Virgin Islands (“Lenovo”); 

  

	18.	 HILLHOUSE NEV HOLDINGS LIMITED, an exempted company duly incorporated and validly existing under
the Laws of the British Virgin Islands; 

  

	19.	 HH RSV-X HOLDINGS LIMITED, an exempted company with limited
liability duly incorporated and validly existing under the Laws of the Cayman Islands; 

  

	20.	 SHUNWEI TMT II LIMITED, an exempted company duly incorporated and validly existing under the Laws
of the British Virgin Islands, and SHUNWEI GROWTH II LIMITED, an exempted company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	21.	 MOUNT PUTUO INVESTMENT LIMITED, an exempted company duly incorporated and validly existing under
the Laws of the British Virgin Islands; 

  

	22.	 SCC GROWTH IV HOLDCO A, LTD., an exempted company duly incorporated and validly existing under
the Laws of the Cayman Islands (“SCC”); 

  

	23.	 JOY CAPITAL I, L.P., an exempted limited partnership duly registered and validly existing under
the Laws of the Cayman Islands; 

  

	24.	 PALACE INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore (“Palace”); 

  
 - 42 - 

	25.	 GRANDFIELD INVESTMENT LTD., an exempted company duly incorporated and validly existing under the
Laws of the Cayman Islands (“Grandfield”); 

  

	26.	 IDG CHINA VENTURE CAPITAL FUND IV L.P. and IDG CHINA IV INVESTORS L.P., each an exempted limited
partnership registered and validly existing under the Laws of the Cayman Islands; 

  

	27.	 BRIGHT SKY II, L.P., an exempted limited partnership duly registered and validly existing under
the Laws of the Cayman Islands (“Bright Sky”); and 

  

	28.	 LONG WINNER INVESTMENT LIMITED
(遠宏投資有限公司 ), a limited company duly incorporated and validly existing under the Laws of Hong Kong. 

Part C 
  

	29.	 BAIDU CAPITAL L.P., an exempted limited partnership duly registered and validly existing under
the Laws of the Cayman Islands (“Baidu Capital”); 

  

	30.	 WEST CITY ASIA LIMITED, a company limited by shares duly incorporated and validly existing under
the Laws of the British Virgin Islands (“West City”); 

  

	31.	 TANZANITE GEM HOLDINGS LIMITED, a limited liability company duly incorporated and validly
existing under the Laws of the British Virgin Islands (“WP”); 

  

	32.	 HAIXIA NEV INTERNATIONAL LIMITED PARTNERSHIP (formerly known as HAIXIA NIO INTERNATIONAL
LIMITED PARTNERSHIP), a limited partnership company duly incorporated and validly existing under the Laws of the Cayman Islands (“Haixia”); 

 

	33.	 HAITONG INTERNATIONAL INVESTMENT HOLDINGS LIMITED (formerly known as HAITONG INTERNATIONAL
ALTERNATIVE INVESTMENT LIMITED), a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands (“Haitong”); 

 

	34.	 NEW MARGIN CAPITAL HONG KONG CO., LIMITED
(聯創資本(香港)有限公司), a limited liability company duly incorporated and validly existing under the
Laws of Hong Kong (“New Margin Capital”); 

  

	35.	 IMAGE FRAME INVESTMENT (HK) LIMITED, a limited liability company duly incorporated and validly
existing under the Laws of Hong Kong (“Image Frame”, with Mount Putuo, individually or collectively “Tencent”); 

 

	36.	 ZHIDE EV INVESTMENT LIMITED, a limited liability company duly incorporated and validly existing
under the Laws of the Cayman Islands (“Zhide”); 

  

	37.	 CHINAEQUITY SMART TRAVEL CO., LTD., a limited liability company duly incorporated and validly
existing under the Laws of the British Virgin Islands (“ChinaEquity”); 

  
 - 43 - 

	38.	 PALACE INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore; 

  

	39.	 TOTAL PRESTIGE INVESTMENT LIMITED, a limited liability company duly incorporated and validly
existing under the Laws of the Cayman Islands (“Total Prestige”); 

  

	40.	 BRIGHT SKY II, L.P., an exempted limited partnership duly registered and validly existing under
the Laws of the Cayman Islands; 

  

	41.	 TPG GROWTH III SF PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore; 

  

	42.	 BLUESTONE COMPANY LIMITED, a company limited by shares duly incorporated and validly existing
under the Laws of the Cayman Islands; 

  

	43.	 IDG CHINA VENTURE CAPITAL FUND IV L.P. and IDG CHINA IV INVESTORS L.P., each an exempted limited
partnership registered and validly existing under the Laws of the Cayman Islands, and CYBER TYCOON LIMITED, a limited liability company duly incorporated and validly existing under the Laws of the British Virgin Islands
(“IDG”); 

  

	44.	 HONOR BEST INTERNATIONAL LIMITED, a company with limited liability duly incorporated and validly
existing under the Laws of the British Virgin Islands (“Honor Best”); 

  

	45.	 ANDERSON INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore; 

  

	46.	 ULTIMATE LENOVO LIMITED, a limited liability company duly incorporated and validly existing under
the Laws of the British Virgin Islands; 

  

	47.	 CHAMPION ELITE GLOBAL LIMITED
(冠傑環球有限公司 ), a business company duly registered and validly existing under the Laws of the British Virgin Islands; 

 

	48.	 CHINA INDUSTRIAL INTERNATIONAL TRUST ASSET MANAGEMENT COMPANY LIMITED (formerly known as CHINA
INVESTMENT ASSET MANAGEMENT LIMITED (兴业国信资产管理有限公司)) , a limited liability company duly registered and validly
existing under the Laws of the PRC; 

  

	49.	 HF HOLDINGS LIMITED, a limited liability company under the laws of the British Virgin Islands;

  

	50.	 TEA LEAF LIMITED, an exempted company duly incorporated and validly existing under the Laws of
the Cayman Islands; 

  
 - 44 - 

	51.	 BLISSFUL DAYS HOLDINGS LIMITED
(福日控股有限公司 ), a business company duly incorporated and validly existing under the Laws of the British Virgin Islands; 

 

	52.	 GUANGFA XINDE CAPITAL MANAGEMENT LIMITED
(广发信德资本管理有限公司), a corporation duly incorporated under and validly existing under the Laws
of the British Virgin Islands; 

  

	53.	 BLUEFUTURE FUND L.P., an exempted limited partnership duly incorporated and validly existing under the
Laws of the Cayman Islands; 

  

	54.	 UBS AG, LONDON BRANCH, a company duly incorporated and validly existing under the Laws of the
Switzerland and registered as a branch in England and Wales Branch No. BR004507 at 5 Broadgate, London EC2M 2QS; 

  

	55.	 KEEN EAGLE CAPITAL INVESTMENT LIMITED
(銳鷹創富有限公司), a limited liability company duly incorporated and validly existing under the Laws of Hong Kong; 

 

	56.	 CHINA OCEANWIDE INTERNATIONAL ASSET MANAGEMENT LIMITED
(中泛國際資產管理有限公司 ), a BVI business company duly incorporated and validly existing under the Laws of the British Virgin Islands; and

  

	57.	 CHINA MERCHANTS FORTUNE 100 ALTERNATIVE INVESTMENT SP, an exempted company duly incorporated and validly
existing under the Laws of the Cayman Islands. 

 Part D 

 

	58.	 IMAGE FRAME INVESTMENT (HK) LIMITED, a limited liability company duly incorporated and validly
existing under the Laws of Hong Kong; 

  

	59.	 MORESPARK LIMITED, a limited liability company duly incorporated and validly existing under the
Laws of Hong Kong (“Morespark”); 

  

	60.	 LEAP PROSPECT LIMITED, a limited liability company duly incorporated and validly existing under
the Laws of the British Virgin Islands (“Hammer Capital”); 

  

	60.	 PV VISION LIMITED, a limited liability company duly incorporated and validly existing under the
Laws of the British Virgin Islands; 

  

	61.	 SERENITY WL HOLDINGS LTD., an exempted company duly incorporated and validly existing under the
Laws of the Cayman Islands; 

  

	62.	 SCOTTISH MORTGAGE INVESTMENT TRUST PLC, a public limited company duly incorporated and validly
existing under the Laws of the United Kingdom; 

  

	63.	 PACIFIC HORIZON INVESTMENT TRUST PLC, a public limited company duly incorporated and validly existing
under the Laws of the United Kingdom; 

  
 - 45 - 

	64.	 MYRIAD OPPORTUNITIES MASTER FUND LIMITED, an exempted company duly incorporated and validly
exiting under the Laws of the Cayman Islands; 

  

	65.	 LONE CYPRESS, LTD., an exempted limited liability company duly incorporated and validly existing
under the Laws of the Cayman Islands; 

  

	66.	 LONE SPRUCE, L.P., a limited partnership duly incorporated and validly existing under the Laws of
the State of Delaware, USA; 

  

	67.	 ULTRA RESULT HOLDINGS LIMITED; a limited liability company duly incorporated and validly existing
under the Laws of the British Virgin Islands; 

  

	68.	 AL NAHDHA INVESTMENT LLC, a limited liability company duly incorporated and validly existing
under the Laws of United Arab Emirates; 

  

	69.	 AL BEED GROUP, an establishment duly incorporated and validly existing under the Laws of United
Arab Emirates; 

  

	70.	 OLDBRIDGE INVEST L.L.C., a limited liability company duly incorporated and validly existing under
the Laws of United Arab Emirates; 

  

	71.	 AC LIMITED, a limited liability company duly incorporated and validly existing under the Laws of
Dubai International Financial Centre; 

  

	72.	 BEST CASTLE LIMITED, an exempted Company duly incorporated and validly exiting under the Laws of
the Cayman Islands; 

  

	73.	 HUBEI SCIENCE & TECHNOLOGY INVESTMENT GROUP (HONG KONG) COMPANY LIMITED, a
limited liability company duly incorporated and validly existing under the Laws of Hong Kong; 

  

	74.	 WP NIO INVESTMENT PARTNERSHIP L.P., a limited partnership duly incorporated and validly existing
under the Laws of the Cayman Islands; 

  

	75.	 LEZMENIA ASSETS LIMITED, a limited liability company duly incorporated and validly existing under
the Laws of the British Virgin Islands; 

  

	76.	 LAPATHIA HOLDINGS LIMITED, a limited liability company duly incorporated and validly existing
under the Laws of Cyprus; 

  

	77.	 SILVER RIDGE FUND I LIMITED PARTNERSHIP, a limited partnership duly incorporated and validly
existing under the Laws of the Cayman Islands; 

  

	78.	 THE MABEL CHAN 2012 FAMILY TRUST, a trust duly governed by the laws of the State of New York,
USA; 

  

	79.	 MAGIC STONE SPECIAL OPPORTUNITY FUND IV L.P., an exempted limited partnership duly incorporated
and validly existing under the Laws of the Cayman Islands; 

  
 - 46 - 

	80.	 MEGA TREASURE INVESTMENT LIMITED, an exempted company duly incorporated and validly exiting under
the Laws of the Cayman Islands; 

  

	81.	 TANZANITE GEM HOLDINGS LIMITED, a limited liability company duly incorporated and validly
existing under the Laws of the British Virgin Islands; 

  

	82.	 SCC GROWTH IV HOLDCO A, LTD., an exempted company duly incorporated and validly existing under
the Laws of the Cayman Islands (“SCC”); 

  

	83.	 JOY NEXT INVESTMENT MANAGEMENT LIMITED, a limited liability company duly registered and validly
existing under the Laws of Hong Kong; 

  

	84.	 ANDERSON INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore; 

  

	85.	 TPG GROWTH III SF PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore; 

  

	86.	 BLUESTONE COMPANY LIMITED, a company limited by shares duly incorporated and validly existing
under the Laws of the Cayman Islands; 

  

	87.	 BRIGHT SKY II, L.P., an exempted company duly incorporated and validly exiting under the Laws of
the Cayman Islands; 

  

	88.	 DIAMOND DIVISION LIMITED, a limited liability company duly incorporated and validly existing
under the Laws of the British Virgin Islands; 

  

	89.	 WEST CITY ASIA LIMITED, a limited liability company duly incorporated and validly existing under
the Laws of the British Virgin Islands; 

  

	90.	 HAIXIA NEV INTERNATIONAL LIMITED PARTNERSHIP, a limited partnership company duly incorporated and
validly existing under the Laws of the Cayman Islands; 

  

	92.	 KEEN EAGLE CAPITAL INVESTMENT LIMITED, a limited liability company duly incorporated and validly
existing under the Laws of Hong Kong; 

  

	93.	 PALACE INVESTMENTS PTE. LTD., a private company limited by shares duly incorporated and validly
existing under the Laws of Republic of Singapore; and 

  

	94.	 HH DYU Holdings Limited, an exempted company with limited liability duly incorporated and validly
existing under the Laws of the Cayman Islands (collectively with Hillhouse NEV Holdings Limited and HH RSV-X Holdings Limited, “Hillhouse”). 

  
 - 47 - 

 SCHEDULE 2 

ADDRESS FOR NOTICES 
  

			
	If to the Group Companies:
		
	Address:	  	20th Building, 56 An Tuo Road, AnTing Town, JiaDing, Shanghai, PRC
	Attn:	  	Mr. WANG Dongning (汪冬宁)
	Fax:	  	
	Email:	  	nick.wang@nio.com
	
	If to Founder Vehicles:
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Mr. LI Bin
	Fax:	  	
	Email:	  	william.li@nextev.com
		
	If to Founder:	  	
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Mr. LI Bin
	Fax:	  	
	Email:	  	william.li@nextev.com
	
	If to Prime Hubs:
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Heather DIWU (第五蕙)
	Fax:	  	
	Email:	  	heather.diwu@nio.com
		
	If to Energy:	  	
		
	Address:	  	 Floor 13-14, Building No.1, Cheng Ying Center, 5 Laiguangying West Road, Chaoyang District, Beijing,
PRC
 (中国北京市朝阳区来广营西路 5 号院诚 盈中心 1 号楼 13-14
层)

	Attn:	  	Mr. LI Xiang
	Fax:	  	
	Email:	  	lixiang@autohome.com.cn

  
 - 48 - 

			
	If to Hillhouse:
		
	Address:	  	Floor 28, Building B, PingAn International Financial Center, 3 Xinyuannan Road, Chaoyang District, Beijing 100027, PRC
	Fax:	  	+86 (10) 5952-0882
	Attention:	  	Luke LI
	Email:	  	lli@hillhousecap.com
	
	With a copy to:
		
	Address:	  	Suite 1608, One Exchange Square, 8 Connaught Place, Central, Hong Kong
	Tel:	  	+852 2179-1927
	Fax:	  	+852 2179-1900
	Attention:	  	Mr. Adam HORNUNG
	Email:	  	legal@hillhousecap.com
		
	If to Shunwei:	  	
		
	Address:	  	P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands
	Attention:	  	Mr. Tuck Lye Koh (许达来)
	Email:	  	tlkoh@shunwei.com
	
	With a copy to:
		
	Address:	  	Unit 1309A, 13/F, Cable TV Tower, No. 9 Hoi Shing Road, Tsuen Wan, N.T., Hong Kong
	Tel:	  	+852 24050088
	Fax:	  	+852 24050003
	Email:	  	tlkoh@shunwei.com
	Attention:	  	Mr. Tuck Lye Koh (许达来)
		
	If to Tencent:	  	
		
	Address:	  	Tencent Building, Keji Zhongyi Avenue, Hi-tech Park, Nanshan District Shenzhen 518057, PRC
	Attention:	  	Compliance and Transactions Department
	Email:	  	legalnotice@tencent.com
	with a copy to:	  	
	Address:	  	Tencent Building, Keji Zhongyi Avenue, Hi-tech Park, Nanshan District, Shenzhen 518057, PRC
	Attention:	  	Mergers and Acquisitions Department
	Email:	  	PD_Support@tencent.com
	
	If to Smart Group:
		
	Address:	  	Building 18, Kechuang No.11 Street, Yizhuang Economic Development Zone, Daxing District, Beijing, PRC
	Tel:	  	(86 10) 58955998
	Fax:	  	
	Attention:	  	Nancy
	Email:	  	nancy@jd.com

  
 - 49 - 

			
	with a copy to:	  	
		
	Attention:	  	Xiaohong Miao
	Email:	  	mxh@jd.com
	Tel:	  	(86 10) 58955998
	
	If to Sequoia or SCC:
		
	Address:	  	Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands, c/o Suite 3613, 36/F, Two Pacific Place, 88 Queensway, Hong Kong
	Tel:	  	+852 2501 8989
	Fax:	  	+852 2501 5249
	Attention:	  	Ip Siu Wai Eva / Ian Qian
	Email:	  	eip@sequoiacap.com, iqian@sequoiacap.com
	
	If to Joy Capital:
		
	Address:	  	1501 Tower B, Greenland Center, No.4 Wangjing Dongyuan, Chaoyang District, Beijing
	Tel:	  	(86 10) 52388085
	Fax:	  	(86 10) 52388090
	Attention:	  	Angela Lin
	Email:	  	linlin@joycapital.com.cn
	
	If to Padmasree Warrior:
		
	Address:	  	2950 Alexis Drive Palo Alto, CA 94304
	Tel:	  	+1(408) 386 7960 (Cell)
		  	+1(650) 209 5705 (Home)
	Email:	  	padmasree.warrior@gmail.com
	
	If to Temasek:
		
	Address:	  	60B Orchard Road, #06-18 Tower 2, The Atrium@Orchard, Singapore 238891
	Tel:	  	
	Fax:	  	
	Attention:	  	Wu Hai
	Email:	  	wuhai@temasek
		
	If to TPG:	  	
		
	Address:	  	TPG Growth III SF Pte. Ltd., 80 Raffles Place, #15-01 UOB Plaza 1, Singapore 048624
	Tel:	  	+65 6390 5000
	Fax:	  	+65 6390 5001
	Attention:	  	Hua Fung Teh
	Email:	  	HTeh@tpg.com

  
 - 50 - 

			
	With a copy to:
	
	TPG Global, LLC
	Address:	  	301 Commerce Street, Suite 3300 Fort Worth, TX 76102, U.S.A.
	Tel:	  	+1 415 743 1532
	Fax:	  	+1 415 438 1349
	Attention:	  	Legal Department
	Email:	  	tpglegaldepartment@tpg.com
	
	If to Bluestone:
		
	Address:	  	Suites 203-205, Winland International Finance Center, No. 7 Financial Street, Beijing, China
	Tel:	  	
	Fax:	  	
	Attention:	  	Yi CHEN
	Email:	  	simon.chen@hopucap.com
	
	If to Magic Stone:
		
	Address:	  	D36, King’s Garden, No.18 Xiaoyun Road, Chaoyang District, Beijing, P.R. China
	Tel:	  	
	Fax:	  	+86 (10) 85187755
	Attention:	  	Zeng Yu
	Email:	  	jennyzeng@msainvest.com
	
	If to Orient Hontai:
		
	Address:	  	701, 7/F, North Block C, Raycom Infotech Park, No. 2 Science Institution South Road, Haidian District, Beijing, China
	Tel:	  	+86 150 1138 5037
	Fax:	  	+86 (10) 8286 2988-927
	Attention:	  	Eric Zhao/Han Zhang
	Email:	  	eric.zhao@hontaicapital.com/Han.zhang@hontaicapital.com
	
	If to Golden Brick:
		
	Address:	  	c/o Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands
	Tel:	  	
	Fax:	  	(86 10) 5735 1999
	Attention:	  	Malcolm Ko
	Email:	  	malcolmko@ceeholdings.com

  
 - 51 - 

			
	If to Lenovo:	  	
		
	Address:	  	6th Floor, Tower A, #6, Shangdi Road West, Haidian District, Beijing Tel:
	Fax:	  	
	Attention:	  	Ricky Chen
	Email:	  	chenbo10@lenovo.com
		
	If to Palace:	  	
		
	Address:	  	60B Orchard Road, #06-18 Tower 2, The Atrium@Orchard, Singapore 238891
	Tel:	  	
	Fax:	  	
	Attention:	  	Song Junhe, Pavcap Ops, Pavcap Legal
	Email:	  	junhe@pavcap.com.sg, ops@pavcap.com.sg, legal@pavcap.com.sg
	
	If to Grandfield or Bright Sky or Total Prestige:
		
	Address:	  	190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands
	Tel:	  	
	Fax:	  	
	Attention:	  	
	
	With a copy to:
	
	Redview Advisors (HK) Limited
	Address:	  	Suite 1702-03, One Exchange Square, 8 Connaught Place, Central, Hong Kong
	Tel:	  	+852 2801 6988
	Fax:	  	+852 28014882
	Attention:	  	Director
		
	If to IDG:	  	
		
	Address:	  	c/o IDG Capital Management (HK) Ltd., Unit 5505, 55/F., The Center 99 Queen’s Road, Central, Hong Kong
	Tel:	  	
	Fax:	  	+852 2529 1619
	Attention:	  	Chi Sing HO
	Email:	  	
	
	With a copy to:
		
	Address:	  	Floor 6, Tower A, COFCO Plaza, 8 Jianguomennei Dajie, Beijing, 100005, P.R. China
	Fax:	  	+86 (10) 8512 0225
	Attention:	  	Mr. Rui Guo
	
	If to Long Winner:
		
	Address:	  	2508, Hongkou SOHO, 575 Wusong Road, Hongkou Area, Shanghai, China, 200080 / 上海市虹口区吴淞路 575
号虹口 SOHO 2508,邮编 200080
	Fax:	  	+86 (21) 6127 9989
	Attention:	  	John Y Hsin
	Email:	  	jhsin@huaxing.com

  
 - 52 - 

			
	If to Baidu Capital:
		
	Address:	  	上海市黄浦区马当路 388 号 SOHO 复兴广场 A 栋 2705 室 
	Tel:	  	
	Fax:	  	
	Attention:	  	Jenny Wenjie WU
	Email:	  	jennywu@baidu-cap.com
	
	If to West City:
		
	Address:	  	Unit 908. Level 9, Cyberport 2, 100 Cyberport Road, Hong Kong (香港数码 港道 100
号数码港 2 座 9 楼 908 室)
	Tel:	  	+852 2866 3088
	Fax:	  	+852 2866 2966
	Attention:	  	Xin Xu / Rong Zhu
	Email:	  	kathyxu@capitaltoday.com / jasonzhu@capitaltoday.com
		
	If to WP:	  	
		
	Address:	  	c/o Warburg Pincus LLC, 450 Lexington Avenue, New York, NY 10017, USA
	Tel:	  	
	Fax:	  	
	Attention:	  	Steven G. Glenn/David J. Sreter/Tara E. O’Neill
	Email:	  	
	
	With a copy to:
	
	Warburg Pincus Asia LLC
	Address:	  	Suite 6703, Two International Finance Centre, 8 Finance Street, Hong Kong
	Tel:	  	
	Fax:	  	+852 2521 3869
	Attention:	  	Julian Cheng and Andrew Chan
	Email:	  	julian.cheng@warburgpincus.com/andrew.chan@warburgpincus.com
		
	If to Haixia:	  	
		
	Address:	  	Floor 22, East Wing, D Building, Qinghuatongfang Technology Plaza,No.1 Wangzhuang Road, Haidian District, Beijing
(北京市海淀区王庄路一号,清 华同方科技广场 D 座东楼 22 层)
	Tel:	  	+86 (10) 82366710
	Fax:	  	+86 (10) 62366718
	Attention:	  	张明义 
	Email:	  	zhangmingyi@haixiaasset.com

  
 - 53 - 

			
	If to Haitong:	  	
		
	Address:	  	18/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong
	Tel:	  	+852 2801 2687
	Fax:	  	+852 3926 8907
	Attention:	  	Luxi Wei
	Email:	  	l.wei@htisec.com
	
	If to New Margin Capital:
		
	Address:	  	北京市朝阳区望京东 园 4 区绿地中心 D 座绿地中国锦大厦 16 层 1601(Unit 1601-1, Greenland China Jin Building, Hongtai East Street,
Wangjing East Garden 4th District, Chaoyang District, Beijing 100102)
	Tel:	  	
	Fax:	  	+86 (10) 65280062
	Attention:	  	Mr. Tian
	Email:	  	zhangyu@newmargin.cn, richardtian@newmargin.cn
		
	If to Zhide:	  	
		
	Address:	  	32nd Floor, Azia Center,1233 Lujiazui Ring Road, Shanghai, P.R. China
	Tel:	  	
	Fax:	  	+86 (21) 5888 0598
	Attention:	  	Yuan Shitao
	Email:	  	Shitao.yuan@cicc.com.cn
	
	If to ChinaEquity:
		
	Address:	  	3rd Floor, Tower C, Shoukai Xingfu Square, Xindong Road, Chaoyang District, Beijing 100027, China
	Tel:	  	+86 (10) 8555 0508
	Fax:	  	+86 (10) 8555 0509
	Attention:	  	 John Liu ( 刘 朝
文)

	Email:	  	johnliu@chinaequity.net
	
	If to Honor Best:
		
	Address:	  	Room 904, Tower E1, Oriental Plaza, No.1 East Chang’an Avenue, Dongcheng District, Beijing, PRC
	Tel:	  	
	Fax:	  	+86 10 85188718
	Attention:	  	CHAI Hua
	Email:	  	hua.chai@everbright-idg.com
	
	If to Champion Elite:
		
	Address:	  	Room 2705, 17F, 388 Madang Rd, Shanghai
	Tel:	  	+86 21 8036 1199
	Fax:	  	+86 21 8036 1199
	Attention:	  	Jenny Wenjie Wu
	Email:	  	jennywu@baiducapital.com

  
 - 54 - 

			
	If to China Industrial International Trust Asset Management (China Investment Asset Management):
		
	Address:	  	35/F, One Business Center, 68 Yin Cheng Zhong Road, Pudong District, Shanghai
	Tel:	  	+86 (021) 3829 6250
	Fax:	  	+86 (021) 3860 1997
	Attention:	  	Zou Likun
	Email:	  	zoulk@ciit.com.cn
		
	If to HF:	  	
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Xia Wang/Pu Wang
	Email:	  	wangxia@hanfor.cn/wangpu@hanfor.cn
	
	If to Tea Leaf:
		
	Address:	  	c/o Walkers Fiduciary Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008, Cayman Islands
	Tel:	  	+1 345 814 7600
	Fax:	  	
	Attention:	  	Directors
	Email:	  	fiduciary@walkersglobal.com
	
	If to Blissful Days:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Mr. Zhao
	Email:	  	366128798@qq.com
	
	If to Guangfa Xinde:
		
	Address:	  	16/F Metro Plaza.183 North Tianhe Rd, Guangzhou, P.R. China
	Tel:	  	+86 20 8755 5888-6362
	Fax:	  	+86 20 8755 3363-6362
	Attention:	  	Liang Chen
	Email:	  	xdchenl@gf.com.cn
	
	If to Bluefuture:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Rong Xiao
	Email:	  	xiaor@bothwealth.com

  
 - 55 - 

			
	If to UBS:	  	
		
	Address:	  	UBS AG, 5 Broadgate, London EC2M 2QS
	Tel:	  	+852 2971 8888
	Fax:	  	+852 2868 1510
	Attention:	  	Adrian Ding/John Zhai/Simon Lam
	Email:	  	ol-ccs+-project-newton@ubs.com
	
	If to Keen Eagle:
		
	Address:	  	
	Tel:	  	
	Fax:	  	+86 (021) 6226 2075
	Attention:	  	Yuan Yao
	Email:	  	yaoyuan@cdb-pe.cn
	
	If to China Oceanwide:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Yue Yuanyuan
	Email:	  	yueyuanyuan@fhkg.com
	
	If to China Merchants:
		
	Address:	  	Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008, Cayman Islands
	Tel:	  	+852 3628 2302
	Fax:	  	+852 3582 3371
	Attention:	  	Gao Ting
	Email:	  	gaot@cmfchina.com
	
	If to Hammer Capital:
		
	Address:	  	Room 1803, Zhongshen International Building, Songyuan Road, Luohu District, Shenzhen 518001
	Tel:	  	+86 ***********
	Fax:	  	
	Attention:	  	Yu Bai/Amanda Chau
	Email: Amanda.chau@hammercaptial.co
	
	If to PV Vision Limited:
		
	Address:	  	48/F, China World Tower 3, No. 1 Jian Guo Men Wai Avenue, Beijing, China
	Tel:	  	+86 (10) 8559 8918
	Fax:	  	
	Attention:	  	Michael Wang
	Email:	  	Michael.Wang@primavera-capital.com

  
 - 56 - 

			
	With a copy to:
		
	Attention:	  	Jimmy Guo/Edward Han
	Email:	  	Jimmy.Guo@primavera-capital.com/Edward.Han@primavera-capital.com
	
	If to Serenity WL Holdings Ltd.:
		
	Address:	  	c/o Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, Cayman Islands, KY1-1104
	Tel:	  	+86-21-6288-1001
	Fax:	  	
	Attention:	  	Wang Chen
	Email:	  	wchen@serenitycap.com
	
	If to Scottish Mortgage Investment Trust PLC:
		
	Address:	  	Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN
	Tel:	  	
	Fax:	  	
	Attention:	  	Peter Singlehurst, Linda Lin, Ewan Markson-Brown, Keith Borrows and Christopher Smith
	Email:	  	peter.singlehurst@bailliegifford.com, linda.lin@bailliegifford.com, ewan.markson-brown@bailliegifford.com, keith.borrows@bailliegifford.com, christopher.smith@bailliegifford.com
	
	If to Pacific Horizon Investment Trust PLC:
		
	Address:	  	Baillie Gifford & Co, Calton Square, 1 Greenside Row, Edinburgh EH1 3AN
	Tel:	  	
	Fax:	  	
	Attention:	  	Peter Singlehurst, Linda Lin, Ewan Markson-Brown, Keith Borrows and Christopher Smith
	Email:	  	peter.singlehurst@bailliegifford.com, linda.lin@bailliegifford.com, ewan.markson-brown@bailliegifford.com, keith.borrows@bailliegifford.com, christopher.smith@bailliegifford.com
	
	If to Myriad Opportunities Master Fund Limited:
		
	Address:	  	15/F, Agricultural Bank of China Tower, 50 Connaught Road Central, Central, Hong Kong
	Tel:	  	+852 3664 7889
	Fax:	  	+852 9387 5420
	Attention:	  	Scott Gaynor
	Email:	  	Scott@myriadasset.com
	
	If to Lone Cypress, Ltd./Lone Spruce, L.P.:
		
	Address:	  	Two Greenwich Plaza, Greenwich, CT 06830
	Tel:	  	
	Fax:	  	
	Attention:	  	COO/CFO
	Email:	  	kt@lpcap.com/mm@lpcap.com

  
 - 57 - 

			
	If to Ultra Result Holdings Limited:
		
	Address:	  	37/F, Bank of China Tower, 1 Garden Road, Hong Kong
	Tel:	  	+852 3406 8682
	Fax:	  	
	Attention:	  	Eric Dong
	Email:	  	eric.dong@chinaamc.com
	
	If to Al Nahdha Invetment LLC:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Amer Khan/Junaid Sukhera
	Email:	  	amer@alnahdhainv.ae/junaid@alnahdhainv.ae
	
	If to Al Beed Group:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Amer Khan/Al Hadi
	Email:	  	amer@alnahdhainv.ae/junaid@alnahdhainv.ae
	
	If to Oldbridge Invest LLC
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Galal Kulaib
	Email:	  	galal@oldbridge.ae
	
	If to AC Limited:
		
	Address:	  	Gate Precinct Building 5, Level 6, Suite 607B, DIFC, P.O. Box 116020, Dubai, U.A.E.
	Tel:	  	+971 4 455 9500
	Fax:	  	+971 4 455 9501
	Attention:	  	Michael
	Email:	  	notices@aclimited.com
	
	If to Best Castle Limited:
		
	Address:	  	28/F, CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong
	Tel:	  	+852 3710 6888 / +86 21 6170-5542
	Fax:	  	+852 2104 6977
	Attention:	  	Vicki Hui / Liyang Zhang / Dixon Ng
	Email:	  	vickihui@citicicapital.com/liyangzhang@citiccapital.com /dixonng@citiccapital.com

  
 - 58 - 

			
	If to Hube Science & Technology Investment Group (Hong Kong) Company Limited:
		
	Address:	  	Room 1802, Dominton Centre, 43-59 Queen’s Road East, HK
	Tel:	  	+86 (027) 8770 5403
	Fax:	  	
	Attention:	  	Qing Shao
	Email:	  	sq@whovii.com
	
	If to WP NIO Investment Partnership L.P.:
		
	Address:	  	450 Lexington Avenue, New York, NY 10017
	Tel:	  	
	Fax:	  	
	Attention:	  	Steven Glenn
	Email:	  	
	
	If to Lezmenia Assets/Lapathia Holdings:
		
	Address:	  	Russia-China Investment Fund, 819-821 Winland International Finance Center, 7 Financial St., Xicheng District, Beijing 100033, China
	Tel:	  	
	Fax:	  	+86 10 57629111
	Attention:	  	Legal Department
	Email:	  	xiaoming.lai@rcif.com, shengwei.xu@rcif.com, zhen.lin@rcif.com
		
	And	  	
		
	Address:	  	Russia-China Investment Fund Naberezhnaya Tower, Presnenskaya nab. 10, Block B, floor 6 Moscow, Russia 123317
	Tel:	  	
	Fax:	  	+7 (495) 230-05-56
	Attention:	  	Legal Department
	Email:	  	stanislav.song@rcif.com, vladislav.sidorov@rcif.com, nina.bystrova@rcif.com
	
	With a copy to:
		
	Address:	  	ThemisServ Ltd, 16, Kyriakos Matsis Avenue, Eagle House, 5thFloor, Ayioi Omoloyites, 1082 Nicosia, Cyprus
	Tel:	  	
	Fax:	  	
	Attention:	  	Despo Efstathiou, Phivos Pelides
	Email:	  	defstathiou@themisserv.com, ppelides@cypruslaw.com.cy

  
 - 59 - 

			
	If to Silver Ridge Fund I limited Partnership:
		
	Address:	  	Unit 511, Section B, Building No. 4, Software Industry Base, Nanshan District, Shenzhen, China
	Tel:	  	+86 (755) 82575570
	Fax:	  	
	Attention:	  	Tingting Xiong
	Email:	  	Xiongtingting@silver-ridgecapital.com
	
	If to the Mabel Chan 2012 Family Trust:
		
	Address:	  	4/F, Catalina Mansions, 98 MacDonnell Road, Mid-Levels, Hong Kong
	Tel:	  	+852 9152 8339, +852 9540 2077; +852 2849 6188
	Fax:	  	
	Attention:	  	Ed Yiu-Cheong Chan
	Email:	  	edchan2011@gmail.com, mabeled1987@gmail.com
	
	If to Magic Stone Special Opportunity Fund IV L.P.:
		
	Address:	  	
	Tel:	  	
	Fax:	  	
	Attention:	  	Ben Harburg
	Email:	  	Ben.harburg@msainvest.com
	
	If to Mega Treasure Investment Limited:
		
	Address:	  	190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands
	Tel:	  	
	Fax:	  	
	Attention:	  	Xiaohuan Liu
	Email:	  	liuxh@nhfund.com
	
	If to Joy Next Investment Management Limited:
		
	Address:	  	1501 Tower B, Greenland Center, No.4 Wangjing Dongyuan, Chaoyang District, Beijing
	Tel:	  	(86 10) 52388085
	Fax:	  	(86 10) 52388090
	Attention:	  	Angela Lin
	Email:	  	linlin@joycapital.com.cn
	
	If to Diamond Division:
		
	Address:	  	2508, Hongkou SOHO, 575 Wusong Road, Hongkou Area, Shanghai, China, 200080 / 上海市虹口区吴淞路 575
号虹口 SOHO 2508,邮编 200080
	Tel:	  	
	Fax:	  	
	Attention:	  	Lu ZHAO
	Email:	  	luzhao@huaxing.com

  
 - 60 - 

 EXHIBIT A 

FORM OF DEED OF ADHERENCE 
 This Deed of
Adherence (this “Deed”) is entered into on [•], by and between the following parties: 
  

	1.	 NIO INC., an exempted company duly incorporated and validly existing under the Laws of the Cayman
Islands (the “Company”); and 

  

	2.	 [New Shareholder], [a [ ] company duly incorporated] / [a [ ] limited partnership duly registered] and
validly existing under the Laws of [ ] / [ ] citizen whose passport number is [    ] (the “New Shareholder”). 

RECITALS 
  

	(A)	 [On [•], the Company, certain Series [A-1/A-2/A-3/B/C/D] Investors, and certain subsidiaries and affiliates of the Company entered into a Series [A-1/A-2/A-3/B/C/D] Preferred Share Purchase Agreement (the “Purchase Agreement”) in connection with the issue and sales of the Series [A-1/A-2/A-3/B/C/D] Preferred Shares of the Company.] On [•], 2017, the Company, the shareholders of the Company and certain subsidiaries and affiliates of the
Company entered into the Fifth Amended and Restated Shareholders Agreement and the Fifth Amended and Restated Right of First Refusal & Co-Sale Agreement (collectively, and together with any amendments
and supplements thereto from time to time, the “Shareholder Documents”), which set forth the rights and obligations regarding the corporate governance of the Company, the transfer of the shares of the Company and certain other
rights and obligations of the parties as set forth herein. On [•], the Company adopted the Tenth Amended and Restated Memorandum of Association and the Ninth Amended and Restated Articles of Association (together with any amendments and
supplements thereto from time to time, the “M&A”); 

  

	(B)	 [The New Shareholder agrees to participate in the Additional Closing permitted under [Section 2.4(ii)] of the
Purchase Agreement.] [Subject to the terms and conditions of the Purchase Agreement,] The New Shareholder agrees to [subscribe for / be allotted / have transferred to him/her/it] a total of [ ] [Series
A-1/Series A-2/Series A-3 Preferred Shares / Series B Preferred Shares / Series C Preferred Shares / Series D Preferred Shares
Ordinary Shares] (the “Shares”) of the Company for an aggregate Series A/B/C/D Investment Amount of US$[ ] [at the Additional Closing] / on [•]; 

 

	(C)	 [Pursuant to [Section 2.4(ii)] of the Purchase Agreement,] The New Shareholder agrees to become a party to and
be bound by the terms of [the Purchase Agreement,] the Shareholder Documents (as a party thereto) and the M&A by executing and delivering this Deed; and 

  

	(D)	 The Company enters into this Deed on behalf of itself and as agent for all other persons who are at present or
who may hereafter become bound by [the Purchase Agreement,] the Shareholder Documents and the M&A (including the existing Shareholders). 

  
 - 61 - 

 THIS DEED WITNESSES as follows: 

 

	1.	 DEFINED TERMS AND CONSTRUCTION 

 

	1.1	 In this Deed, except as the context may otherwise require, all words and expressions defined in [the Purchase
Agreement,] the Shareholder Documents and the M&A shall have the same meanings when used herein. 

  

	1.2	 The rules of construction of [the Purchase Agreement,] the Shareholder Documents and the M&A will apply as
if incorporated in this Deed. 

  

	1.3	 This Deed shall be incorporated into [the Purchase Agreement and] the Shareholder Documents as if expressly
incorporated into [the Purchase Agreement and] the Shareholder Documents. 

  

	1.4	 [Immediately after the Additional Closing and subject to the terms and conditions of the Purchase Agreement,
(1) Schedule I to the Purchase Agreement will be amended to list the New Shareholder, (2) the capitalization table listed in Schedule III to the Purchase Agreement shall be amended to reflect the change of shareholding structure of the
Company upon the Additional Closing, and (3) the Company shall update its register of members to reflect the issuance of the Shares to the New Shareholders.] 

 

	2.	 UNDERTAKINGS 

The New Shareholder confirms that [he/she/it] has received copies of [the Purchase Agreement,] the Shareholder Documents and the M&A, and
fully understands and accepts the terms thereof. The New Shareholder hereby covenants and undertakes to the Company who is as trustee for all other persons who are at present or who may hereafter become bound by [the Purchase Agreement,] the
Shareholder Documents and the M&A, and to the Company itself, that, upon completion of the [allotment/transfer] of the Shares and subject to [the Purchase Agreement and] the Shareholder Documents, the New Shareholder shall adhere to, observe,
perform and be bound by all the duties, burdens and obligations, as provided under [the Purchase Agreement and] the Shareholder Documents to which [he/she/it] shall be a party and all documents expressed in writing to be supplemental or ancillary
thereto, in relation to the Shares, and shall be deemed as a “Shareholder”, a “Party”, [an “Investor”], [a “Holder”], [a “Preferred Holder”], [a “Series A/Series B/Series C/Series D
Holder”], and [a “Series A-1/Series A-2/Series A-3/Series B/Series C/Series D Investor]”, each as defined
thereunder, in relation to the Shares, as if [he/she/it] had been an original party to [the Purchase Agreement and] the Shareholder Documents since the date thereof, and be bound by the M&A. 

[If the New Shareholder is a natural person and is married on the date of this Deed, such New Shareholder’s spouse shall, concurrently
with the execution of this Agreement by the parties hereto, execute and deliver to the Company a spousal consent in substantially the form of Annex A attached hereto (“Spousal Consent”). Notwithstanding the execution and delivery
thereof, such Spousal Consent shall not be deemed to confer or convey to such New Shareholder’s spouse any rights in such New Shareholder’s Shares or other securities of the Company to be held by the New Shareholder from time to time that
do not otherwise exist by operation of law or the agreement of the parties. If any New Shareholder marries (or remarries) after the date of this Deed, such New Shareholder shall, within 30 days thereafter, obtain his or her new spouse’s
acknowledgement of, and consent to, the existence and binding effect of all restrictions contained in this Deed, [the Purchase Agreement and] the Shareholder Documents by causing such spouse to execute and deliver a Spousal Consent.] 

  
 - 62 - 

 For the purpose of the notices and communications required or permitted under [the Purchase
Agreement and] the Shareholder Documents, the address of the New Shareholder is as follows, which shall be incorporated in Schedule 2 (Address for Notices) of each of the Shareholder Documents: 

Address: 
 Tel: 

Fax: 
 Attention: 

Email: 
  

	3.	 ENFORCEABILITY AND GOVERNING LAW 

Each existing Shareholder and the Company shall be entitled to enforce [the Purchase Agreement,] the Shareholder Documents and the M&A
against the New Shareholder, and the New Shareholder shall be entitled to all rights and benefits pertaining to the Shares held by it (other than those that are non-assignable) as set forth in [the Purchase
Agreement,] the Shareholder Documents and the M&A, in each case as if the New Shareholder had been an original party to [the Purchase Agreement and] the Shareholder Documents since the date thereof. 

This Deed shall be governed by and construed in accordance with the laws of Hong Kong, except to the extent that the Companies Law of the
Cayman Islands by its terms is applicable. 
 [Signature page follows] 

  
 - 63 - 

 IN WITNESS WHEREOF, this Deed of Adherence has been executed as a deed on the date first above
written. 
  

			
	NIO INC.
		
	By:	 	
                 

	
	Name:
		
	Title:	 	
	
	Director
	
	[NAME OF NEW SHAREHOLDER]
		
	By:	 	  

	
	Name:
	
	Title:

  
 - 64 - 

 ANNEX A 

FORM OF SPOUSAL CONSENT 
 I, [•], spouse of [•],
have read and approve of [the Purchase Agreement] and the Shareholder Documents by and among the Company and the parties, including my spouse, listed therein. Capitalized terms used herein without definition shall have the meanings set forth in [the
Purchase Agreement] and the Shareholder Documents. 
 I am aware that [the Purchase Agreement] and the Shareholder Documents contain provisions regarding
(i) voting and transfer of shares, and (ii) certain rights of certain other holders of capital stock of the Company upon a sale, transfer, assignment, pledge, encumbrance or other disposition of capital stock which my spouse may own,
including any interest I might have therein. 
 I hereby agree that my interest, if any, in any Shares, securities or other property subject to [the
Purchase Agreement] and the Shareholder Documents shall be irrevocably bound by [the Purchase Agreement] and the Shareholder Documents. I further understand and agree that any community property interest I may have in such Shares, securities or
other property shall be similarly bound by [the Purchase Agreement] and the Shareholder Documents. 
 I am aware that the legal, financial and related
matters contained in [the Purchase Agreement] and the Shareholder Documents are complex and that I am free to seek independent professional guidance or counsel with respect to this Spousal Consent. I have either sought such guidance or counsel or
determined, after reviewing [the Purchase Agreement] and the Shareholder Documents carefully, that I will waive such right. 
 Dated:
[            ] 
  

			
	[Name of Spouse]
		
	By:	 	
                     

  
 - 1 -EX-10.1

 Exhibit 10.1 

NEXTEV INC. 
 2015 SHARE
INCENTIVE PLAN 
 1. Purposes of the Plan. The purposes of this Plan are to attract and retain the best available personnel, to
provide additional incentives to Employees, Directors and Consultants and to promote the success of the Company’s business. 
 2.
Definitions. The following definitions shall apply as used herein and in the individual Award Agreements except as defined otherwise in an individual Award Agreement. In the event a term is separately defined in an individual Award Agreement,
such definition shall supersede the definition contained in this Section 2. 
 (a) “Administrator” means the Board or
any of the Committees appointed by the Board to administer the Plan. 
 (b) “Affiliate” means, with respect to a Person, any
other Person that, directly or indirectly, Controls, is Controlled by or is under common Control with such Person, where “Control” of a given Person means the power or authority, whether exercised or not, to direct the business,
management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by Contract or otherwise; provided, that such power or authority shall conclusively be presumed to exist upon possession of
beneficial ownership or power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a majority of the board of directors
of such Person. 
 (c) “Applicable Laws” means legal requirements relating to the Plan and the Awards under applicable laws,
regulations, rules, federal securities laws, state corporate and securities laws, the rules of any applicable stock exchange or national market system, and the laws, regulations, orders or rules of any jurisdiction applicable to the Awards granted
to residents therein or the Grantees receiving such Awards. 
 (d) “Assumed” means that pursuant to a Corporate Transaction
either (i) the Award is expressly affirmed by the Company or (ii) the contractual obligations represented by the Award are expressly assumed (and not simply by operation of law) by the successor entity or its Parent in connection with the
Corporate Transaction with appropriate adjustments to the number and type of securities of the successor entity or its Parent subject to the Award and the exercise or purchase price thereof which at least preserves the compensation element of the
Award existing at the time of the Corporate Transaction as determined in accordance with the instruments evidencing the agreement to assume the Award. 

(e) “Award” means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Share, Restricted Share Unit or other
right or benefit under the Plan. 
 (f) “Award Agreement” means the written agreement evidencing the grant of an Award
executed by the Company and the Grantee, including any amendments thereto. 
 (g) “Board” means the Board of Directors of
the Company. 

 (h) “Cause” means, with respect to the termination by the Company or a
Related Entity of the Grantee’s Continuous Service, that such termination is for “Cause” as such term is expressly defined in a then-effective written agreement between the Grantee and the Company or such Related Entity, or in the
absence of such then-effective written agreement and definition, is based on, in the determination of the Administrator, the Grantee’s: (i) performance of any act or failure to perform any act in bad faith and/or to the detriment of the
Company or a Related Entity; (ii) dishonesty, intentional misconduct or material breach of any agreement with the Company or a Related Entity (including without limitation of any non-competition
obligations of Grantee); or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person, or any crime involving fraud, or misrepresentation or violation of applicable securities laws. 

(i) “Change in Control” means (as determined by the Administrator acting reasonably) a change in ownership or control of the
Company after the Registration Date effected through the direct or indirect acquisition by any Person or related group of Persons (other than an acquisition from or by the Company or by a Company-sponsored employee benefit plan or by an Affiliate of
the Company) of beneficial ownership of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s
shareholders which a majority of the Directors who are not Affiliates or associates of the offeror do not recommend such shareholders accept. 

(j) “Committee” means any committee composed of members of the Board appointed by the Board to administer the Plan. 

(k) “Company” means NEXTEV INC., an exempted company incorporated with limited liability under the laws of the Cayman Islands
or any successor corporation that adopts the Plan in connection with a Corporate Transaction. 
 (l) “Consultant” means any
Person (other than an Employee or a Director, solely with respect to rendering services in such Person’s capacity as an Employee or Director) who is engaged by the Company or any Related Entity to render consulting or advisory services to the
Company or such Related Entity. 
 (m) “Continuous Service” means that the provision of services to the Company or a Related
Entity in any capacity of Employee, Director or Consultant is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous Service shall be deemed
terminated upon the actual cessation of providing services to the Company or a Related Entity notwithstanding any required notice period that must be fulfilled before a termination as an Employee, Director or Consultant can be effective under
Applicable Laws. A Grantee’s Continuous Service shall be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the Grantee provides services ceasing to be a Related Entity. Continuous
Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any
change in status as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise provided in the Award Agreement). An approved leave of absence shall
include sick leave, military leave, or any other authorized personal leave. 

 (n) “Corporate Transaction” means (as determined by the Administrator
acting reasonably) any of the following transactions: 
 (i) a merger or consolidation in which the Company is not the surviving entity,
except for a transaction the principal purpose of which is to change the state in which the Company is incorporated; 
 (ii) the sale,
transfer or other disposition of all or substantially all of the assets of the Company and its Subsidiaries and Affiliates; 
 (iii) the
complete liquidation or dissolution of the Company; 
 (iv) any reverse merger or series of related transactions culminating in a reverse
merger (including, but not limited to, a tender offer followed by a reverse merger) in which the Company is the surviving entity but (A) the Ordinary Shares outstanding immediately prior to such merger are converted or exchanged by virtue of
the merger into other property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities are
transferred to a Person or Persons different from those who held such securities immediately prior to such merger or the initial transaction culminating in such merger, but excluding any such transaction or series of related transactions that the
Administrator determines shall not be a Corporate Transaction; or 
 (v) acquisition in a single or series of related transactions by any
Person or related group of Persons (other than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s
outstanding securities but excluding any such transaction or series of related transactions that the Administrator determines shall not be a Corporate Transaction. 

(o) “Director” means a member of the Board or the board of directors of any Related Entity. 

(p) “Disability” means as defined under the long-term disability policy of the Company or the Related Entity to which the
Grantee provides services regardless of whether the Grantee is covered by such policy. If the Company or the Related Entity to which the Grantee provides service does not have a long-term disability plan in place, “Disability” means that a
Grantee is unable to carry out the responsibilities and functions of the position held by the Grantee by reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Grantee
will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the Administrator in its discretion. 

(q) “Dividend Equivalent Right” means a right entitling the Grantee to compensation measured by dividends paid with respect to
Ordinary Shares. 

 (r) “Drag-Along Event” means a Trade Sale of the Company (as defined in the
M&A of the Company) at any time after March 18, 2021 (or other date as otherwise determined by the Company and the relevant shareholders and investors of the Company from time to time), as approved by the holders of at least 75% of the
voting power of the then outstanding series A preferred shares of the Company (voting together as a single class and calculated on as-converted basis), which Trade Sale implies the valuation of the Company
immediately prior to such offered Trade Sale of not less than US$3,000,000,000 (or other amount as otherwise determined by the Company and the relevant shareholders and investors of the Company from time to time). 

(s) “Employee” means any person, including a Director, who is in the employment of the Company or any Related Entity, subject
to the control and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance. The payment of a Director’s fee by the Company or a Related Entity shall not be sufficient to
constitute “employment” by the Company. 
 (t) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 (u) “Fair Market Value” means, as of any date, the value of Ordinary Shares determined as follows: 

(i) If the Ordinary Shares are traded on a securities exchange, the value shall be deemed to be the security’s closing price on such
exchange on the applicable valuation date, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(ii) If the Ordinary Shares are traded over-the-counter, the
value shall be deemed to be the closing bid price on the applicable valuation date as reported in The Wall Street Journal or such other source as the Administrator deems reliable; and 

(iii) In the absence of an established market for the Ordinary Shares of the type described in (i) and (ii), above, the Fair Market Value
thereof shall be determined by the Administrator in good faith and, to the extent applicable, in compliance with Section 409A of the U.S. Code. 

(v) “Grantee” means an Employee, Director or Consultant who receives an Award under the Plan. 

(w) “IPO” shall mean the Company’s first firm commitment underwritten public offering of any of its securities (or the
securities of a successor corporation) to the general public pursuant to (a) a registration statement filed under the Securities Act of 1933, as amended, or (b) the securities laws applicable to an offering of securities in another
jurisdiction pursuant to which such securities will be listed on an internationally recognized securities exchange. 
 (x) “Incentive
Stock Option” shall mean a stock option granted pursuant to the Plan that by its terms qualifies and is otherwise intended to qualify as an incentive stock option within the meaning of Section 422 of the U.S. Code. 

 (y) “M&A” means the currently effective memorandum and articles of
association of the Company. 
 (z) “Ordinary Share” means the Company’s ordinary shares, par value US$0.00025 per
share. 
 (aa) “Option” means an option to purchase Shares pursuant to an Award Agreement granted under the Plan. Options
granted to employees who are U.S. taxpayers may either qualify as Incentive Stock Options or as options that do not qualify as Incentive Stock Options. 

(bb) “Parent” means any company (other than the Company) in an unbroken chain of companies ending with the Company, if each of
the companies other than the Company owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other companies in such chain. A company that attains the status of a Parent on a date after the adoption
of the Plan shall be considered a Parent commencing as of such date. 
 (cc) “Person” means any individual, corporation,
partnership, limited partnership, association, limited liability company, firm, trust, estate or other enterprise or entity 
 (dd)
“Plan” means this 2015 Stock Incentive Plan. 
 (ee) “Registration Date” means the first to occur of
(i) the closing of the IPO; and (ii) in the event of a Corporate Transaction, the date of the consummation of the Corporate Transaction if the same class of securities of the successor corporation (or its Parent) issuable in such Corporate
Transaction shall have been sold to the general public pursuant to a registration statement filed with and declared effective by the Securities and Exchange Commission under the Securities Act of 1933, as amended, on or prior to the date of
consummation of such Corporate Transaction. 
 (ff) “Related Entity” means any Parent or Subsidiary or Affiliate of the
Company and any business, corporation, partnership, limited liability company or other entity in which the Company or a Parent or a Subsidiary or an Affiliate of the Company holds a substantial ownership interest, directly or indirectly. 

(gg) “Replaced” means that pursuant to a Corporate Transaction the Award is replaced with a comparable share or stock
award or a cash incentive program of the Company, the successor entity (if applicable) or Parent of either of them which preserves the compensation element of such Award existing at the time of the Corporate Transaction and provides for subsequent
payout in accordance with the same (or a more favorable) vesting schedule applicable to such Award. The determination of Award comparability shall be made by the Administrator and its determination shall be final, binding and conclusive. 

(hh) “Restricted Share” means a Share issued under the Plan to the Grantee for such consideration, if any, and subject to such
restrictions on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established by the Administrator. 

 (ii) “Restricted Share Units” means an Award which may be earned in whole
or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the
Administrator. 
 (jj) “SAR” means a share appreciation right entitling the Grantee to Shares or cash compensation, as
established by the Administrator, measured by appreciation in the value of Ordinary Shares. 
 (kk) “Share” means an
Ordinary Share of the Company. 
 (ll) “Spin-off Transaction” means a distribution
by the Company to its shareholders of all or any portion of the securities of any Subsidiary of the Company. 
 (mm)
“Subsidiary” means any company (other than the Company) in an unbroken chain of companies beginning with the Company, if each of the companies other than the last company in the unbroken chain owns stock possessing 50% or more of
the total combined voting power of all classes of stock in one of the other companies in such chain, by equity ownership or by contract. A company that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a
Subsidiary commencing as of such date. 
 (nn) “U.S. Code” means the U.S. Internal Revenue Code of 1986, as amended. 

3. Shares Subject to the Plan. 

(a) Subject to the provisions of Section 11 below, the maximum aggregate number of Shares which may be issued pursuant to all Awards is
46,264,378 Shares . The Shares to be issued pursuant to Awards shall be authorized, but unissued, or reacquired Ordinary Shares. Subject to the provisions of Section 11 below, the maximum number of Shares which may be subject to Options granted
as Incentive Stock Options is 46,264,378 Shares. 
 (b) Any Shares covered by an Award (or portion of an Award) which is forfeited, canceled
or expires (whether voluntarily or involuntarily) shall be deemed not to have been issued for purposes of determining the maximum aggregate number of Shares which may be issued under the Plan. Shares that actually have been issued under the Plan
pursuant to an Award shall not be returned to the Plan and shall not become available for future issuance under the Plan, except that if unvested Shares are forfeited, or repurchased by the Company at the lower of their original purchase price or
their Fair Market Value at the time of repurchase, such Shares shall become available for future grant under the Plan. To the extent not prohibited by the Applicable Law and the listing requirements of the applicable stock exchange or
national market system on which the Ordinary Shares are traded, any Shares covered by an Award which are surrendered (i) in payment of the Award exercise or purchase price or (ii) in satisfaction of tax withholding obligations incident to
the exercise of an Award shall be deemed not to have been issued for purposes of determining the maximum number of Shares which may be issued pursuant to all Awards under the Plan, unless otherwise determined by the Administrator. 

 4. Administration of the Plan. 

(a) Plan Administrator. 

(i) Administration. The Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which
Committee shall be constituted in accordance with the Applicable Laws and the M&A. Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. The Board may authorize one or more
officers to grant such Awards and may limit such authority as the Board determines from time to time. 
 (ii) Administration Errors.
In the event an Award is granted in a manner inconsistent with the provisions of this subsection (a), such Award shall be presumptively valid as of its grant date to the extent permitted by the Applicable Laws. 

(b) Powers of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the
Administrator hereunder), and except as otherwise provided by the Board, the Administrator shall have the authority, in its discretion: 

(i) to select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder; 

(ii) to determine whether and to what extent Awards are granted hereunder; 

(iii) to determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder; 

(iv) to approve forms of Award Agreements for use under the Plan; 

(v) to determine the terms and conditions of any Award granted hereunder (including the vesting schedule set forth in the Notice of Stock
Option Award); 
 (vi) to amend the terms of any outstanding Award granted under the Plan, provided that any amendment that would
adversely affect the Grantee’s rights under an outstanding Award shall not be made without the Grantee’s written consent; 
 (vii)
to construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement, granted pursuant to the Plan; and 

(viii) to take such other action, not inconsistent with the terms of the Plan, as the Administrator deems appropriate. 

 (c) Indemnification. In addition to such other rights of indemnification as they may
have as members of the Board or Employees of the Company or a Related Entity, members of the Board and any Employees of the Company or a Related Entity to whom authority to act for the Board, the Administrator or the Company is delegated shall be
defended and indemnified by the Company to the extent permitted by law on an after-tax basis against all reasonable expenses, including attorneys’ fees, actually and necessarily incurred in connection
with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any action taken or failure to act under or in connection with the Plan, or
any Award granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by the Company) or paid by them in satisfaction of a judgment in any such claim, investigation, action, suit or proceeding,
except in relation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such Person is liable for gross negligence, bad faith or intentional misconduct; provided, however, that within thirty
(30) days after the institution of such claim, investigation, action, suit or proceeding, such Person shall offer to the Company, in writing, the opportunity at the Company’s expense to defend the same. 

5. Eligibility. Awards may be granted to Employees, Directors and Consultants.    An Employee, Director or
Consultant who has been granted an Award may, if otherwise eligible, be granted additional Awards. 
 6. Terms and Conditions of
Awards. 
 (a) Types of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee,
Director or Consultant that is not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares, (ii) cash or (iii) an Option, a SAR, or similar right with a fixed or variable
price related to the Fair Market Value of the Shares and with an exercise or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other conditions. Such awards
include, without limitation, Options, SARs, sales or bonuses of Restricted Shares, Restricted Share Units or Dividend Equivalent Rights, and an Award may consist of one such security or benefit, or two (2) or more of them in any combination or
alternative. 
 (b) Designation of Award. Each Award shall be designated in the Award Agreement. 

(c) Conditions of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms, and conditions of
each Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions, form of payment (cash, Shares, or other consideration) upon settlement of the Award, payment contingencies,
and satisfaction of any performance criteria. Each Award shall be subject to the terms of an Award Agreement approved by the Administrator and, if applicable, a subplan established pursuant to Section 25, which may provide that certain
provisions of the Plan referenced in such Award Agreement or subplan shall not apply to such Award. The performance criteria established by the Administrator may include, without limitation, any one of, or combination of, the following:
(i) increase in share price, (ii) earnings per share, (iii) total shareholder return, (iv) operating margin, (v) gross margin, (vi) return on equity, (vii) return on assets, (viii) return on investment,
(ix) operating income, (x) net operating income, (xi) pre-tax profit, (xii) cash flow, (xiii) revenue, (xiv) expenses, (xv) earnings before interest, taxes and depreciation,
(xvi) economic value added and (xvii) market share. The performance criteria may be applicable to the Company, Related Entities and/or any individual business units of the Company or any Related Entity. Partial achievement of the specified
criteria may result in a payment or vesting corresponding to the degree of achievement as specified in the Award Agreement. Notwithstanding anything to the contrary provided hereof, to the extent permitted under Applicable Laws, the Administrator
shall be entitled to require each Grantee to, as one precondition to being granted each Award, enter into a non-competition agreement with the Company or Related Entity, under which the Grantee shall be
obligated to undertake certain non-competition obligations during the term of the employment with the Company or Related Entity and a certain reasonable period after the employment with the Company, and the
Company shall have the right to waive Grantee’s such non-compete obligation upon its own discretion and decision, subject to the non-competition agreement. 

 (d) Acquisitions and Other Transactions. The Administrator may issue Awards under the
Plan in settlement, assumption or substitution for, outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest in another entity or an additional interest in a
Related Entity whether by merger, share purchase, asset purchase or other form of transaction. 
 (e) Deferral of Award Payment. The
Administrator may establish one or more programs under the Plan to permit selected Grantees the opportunity to elect to defer receipt of consideration upon exercise of an Award (other than an Option held by a U.S. taxpayer), satisfaction of
performance criteria, or other event that absent the election would entitle the Grantee to payment or receipt of Shares or other consideration under an Award. The Administrator may establish the election procedures, the timing of such elections, the
mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, Shares or other consideration so deferred, and such other terms, conditions, rules and procedures that the Administrator deems advisable for the
administration of any such deferral program. 
 (f) Separate Programs. The Administrator may establish one or more separate programs
under the Plan for the purpose of issuing particular forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time.  

(g) Early Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee may elect at any time while an
Employee, Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award, subject to compliance with the Applicable Laws. Any unvested Shares received pursuant to such exercise may be subject to a repurchase right
in favor of the Company or a Related Entity or to any other restriction the Administrator determines to be appropriate. 
 (h) Term of
Award. The term of each Award shall be the term stated in the Award Agreement. Notwithstanding the foregoing, the specified term of any Award shall not include any period for which the Grantee has elected to defer the receipt of the Shares or
cash issuable pursuant to the Award. In the case of an Incentive Stock Option granted to an employee who, at the time the Incentive Stock Option is granted, owns (or, pursuant to Section 424(d) of the U.S. Code, is deemed to own) stock
representing more than 10% of the total combined voting power of all classes of shares of the Company or any Subsidiary or Affiliate, the term of the Incentive Stock Option will not be longer than five years from the date of grant. 

 (i) Transferability of Awards. Subject to the Applicable Laws, Awards shall be
transferable (i) by will and by the laws of descent and distribution and (ii) during the lifetime of the Grantee, to the extent and in the manner authorized by the Administrator. Notwithstanding the foregoing, the Grantee may designate one
or more beneficiaries of the Grantee’s Award in the event of the Grantee’s death on a beneficiary designation form provided by the Administrator. 

(j) Time of Granting Awards. The date of grant of an Award shall for all purposes be the date on which the Administrator makes the
determination to grant such Award, or such other date as is determined by the Administrator. 
 7. Award Exercise or Purchase Price,
Consideration and Taxes. 
 (a) Exercise or Purchase Price. The exercise or purchase price, if any, for an Award shall be
determined by the Administrator, and in the case of Options or SARs granted to U.S. taxpayers, shall not be less than 100% of the Fair Market Value of a Share as of the date of grant. In addition, in the case of an Incentive Stock Option granted to
an employee who, at the time the Incentive Stock Option is granted, owns (or, pursuant to Section 424(d) of the U.S. Code, is deemed to own) Shares representing more than 10% of the total combined voting power of all classes of shares of the
Company or any Subsidiary or Affiliate, the per Share exercise price will be no less than 110% of the Fair Market Value per Share on the date of grant. 

Notwithstanding the foregoing provisions of this Section 7(a), in the case of an Award issued pursuant to Section 6(c), above, the
exercise or purchase price for the Award shall be determined in accordance with the provisions of the relevant instrument evidencing the agreement to issue such Award. 

(b) Consideration. Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an
Award including the method of payment, shall be determined by the Administrator. In addition to any other types of consideration the Administrator may determine, the Administrator is authorized to accept as consideration for Shares issued under the
Plan the following: 
 (i) cash; 

(ii) check; 
 (iii) if the
exercise or purchase occurs on or after the Registration Date, or as otherwise permitted by the Administrator, surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require which
have a Fair Market Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares as to which said Award shall be exercised; 

 (iv) if the exercise or purchase occurs on or after the Registration Date, or as otherwise
permitted by the Administrator, withholding of Shares subject to the Award having a Fair Market Value on the date of exercise equal to the aggregate exercise price of the Shares as to which said Award shall be exercised; 

(v) with respect to Options, if the exercise occurs on or after the Registration Date, payment through a broker-dealer sale and remittance
procedure pursuant to which the Grantee (A) shall provide written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit to the Company sufficient funds to cover the
aggregate exercise price payable for the purchased Shares and (B) shall provide written directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm in order to complete the sale transaction; or

 (vi) any combination of the foregoing methods of payment. 

The Administrator may at any time or from time to time, by adoption of or by amendment to the standard forms of Award Agreement described in
Section 4(b)(iv), or by other means, grant Awards which do not permit all of the foregoing forms of consideration to be used in payment for the Shares or which otherwise restrict one or more forms of consideration. 

(c) Taxes. No Shares shall be delivered under the Plan to any Grantee or other Person until such Grantee or other Person has made
arrangements acceptable to the Administrator for the satisfaction of any income and employment tax withholding obligations under any Applicable Laws. The Grantee shall be responsible for all taxes associated with the receipt, vest, exercise,
transfer and disposal of the Awards and the Shares. Upon exercise of an Award, the Company and/or the Related Entity which is an employer of the Grantee shall have the right to withhold or collect from Grantee an amount sufficient to satisfy such
tax obligations. 
 8. Exercise of Award. 

(a) Procedure for Exercise; Rights as a Shareholder. 

(i) Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the
terms of the Plan and specified in the Award Agreement. 
 (ii) An Award shall be deemed to be exercised when written notice of such
exercise has been given to the Company in accordance with the terms of the Award by the Person entitled to exercise the Award and full payment for the Shares with respect to which the Award is exercised, including, to the extent selected, use of the
broker-dealer sale and remittance procedure to pay the purchase price as provided in Section 7(b)(iv). 
 (b) Exercise of Award
Following Termination of Continuous Service. 
 (i) An Award may not be exercised after the termination date of such Award set forth in
the Award Agreement and may be exercised following the termination of a Grantee’s Continuous Service only to the extent provided in the Award Agreement. 

 (ii) Where the Award Agreement permits a Grantee to exercise an Award following the
termination of the Grantee’s Continuous Service for a specified period, the Award shall terminate to the extent not exercised on the last day of the specified period or the last day of the original term of the Award, whichever occurs first.

 (c) No Exercise in Violation of Applicable Law.  

Notwithstanding the foregoing, regardless of whether an Award has otherwise become exercisable, the Award shall not be exercised if the
Administrator (in its sole discretion) determines that an exercise would violate any Applicable Laws. 
 (d) Restrictions on Exercise.

 Notwithstanding the foregoing, regardless of whether an Award has otherwise become exercisable, the Award may not be exercised before the
consummation of (i) an IPO of the Company, (ii) a Corporate Transaction, or (iii) the Change in Control, except as permitted by the applicable Award Agreement or otherwise as determined by the Administrator. 

9. Conditions Upon Issuance of Shares. 

(a) Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such
Shares pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) As a condition to the exercise of an Award, the Company may require the Person exercising such Award to represent and warrant at the time
of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws.

 (c) As a condition to the exercise of an Award, the applicable Award Agreement may provide for Grantee to grant a power of attorney to the
Board or any Person designated by the Board to exercise the voting rights with respect to the Shares and the Company may require the Person exercising such Award to acknowledge and agree to be bound by the provisions of the currently effective
M&A, shareholders agreement, right of first refusal and co-sale agreement and other documents of the Company in relation to the Shares (if any), as if the Grantee is a holder of Ordinary Shares thereunder.

 10. Repurchase Rights. Except as provided in the applicable Award Agreement or subplan, the Company shall be entitled to repurchase
from Grantee all vested options and Shares upon termination of the Grantee’s Continuous Service with Cause. The Award Agreement shall (or may, with respect to Awards granted or issued to Officers, Directors or Consultants) provide that: 

(a) the consideration payable for the vested Options or Shares upon exercise of such repurchase right shall be made in cash or by cancellation
of purchase money indebtedness; and 

 (b) the amount of the consideration payable for the Shares or vested Options shall be at
their original purchase price paid by the Grantee. 
 11. Adjustments Upon Changes in Capitalization. Subject to any
required action by the shareholders of the Company, the number of Shares covered by each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or which have
been returned to the Plan, the exercise or purchase price of each such outstanding Award, as well as any other terms that the Administrator determines require adjustment shall be equitably adjusted for (i) any increase or decrease in the number
of issued Shares resulting from a share split, reverse share split, share dividend, combination or reclassification of the Shares, or similar transaction affecting the Shares, (ii) any other increase or decrease in the number of issued Shares
effected without receipt of consideration by the Company, or (iii) as the Administrator may determine in its discretion, any other transaction with respect to Ordinary Shares including a corporate merger, consolidation, acquisition of property
or equity, separation (including a spin-off or other distribution of shares or property), reorganization, liquidation (whether partial or complete) or any similar transaction; provided, however that conversion
of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator and its determination shall be final, binding and conclusive.
Except as the Administrator determines, no issuance by the Company of shares of any class, or securities convertible into shares of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of
Shares subject to an Award. In the event of a Spin-off Transaction, the Administrator may in its discretion make such adjustments and take such other action as it deems appropriate with respect to outstanding
Awards under the Plan, including but not limited to: (i) adjustments to the number and kind of Shares, the exercise or purchase price per Share and the vesting periods of outstanding Awards, (ii) prohibit the exercise of Awards during
certain periods of time prior to the consummation of the Spin-off Transaction, or (iii) the substitution, exchange or grant of Awards to purchase securities of the Subsidiary; provided that the
Administrator shall not be obligated to make any such adjustments or take any such action hereunder. 
 12. Corporate Transactions and
Changes in Control. 
 (a) Termination of Award to the Extent Not Assumed in Corporate Transaction. Effective upon
the consummation of a Corporate Transaction, all outstanding Awards under the Plan shall terminate. However, all such Awards shall not terminate to the extent they are Assumed in connection with the Corporate Transaction. 

(b) Acceleration of Award Upon Corporate Transaction or Change in Control. 

(i) Corporate Transaction. Except as provided otherwise in an individual Award Agreement, in the event of a Corporate Transaction, for
the portion of each Award that is neither Assumed nor Replaced, such portion of the Award shall automatically become fully vested and exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at
Fair Market Value) for all of the Shares at the time represented by such portion of the Award, immediately prior to the specified effective date of such Corporate Transaction, provided that the Grantee’s Continuous Service has not terminated
prior to such date. The portion of the Award that is not Assumed shall terminate under subsection (a) of this Section 11 to the extent not exercised prior to the consummation of such Corporate Transaction. 

 (ii) Change in Control. Except as provided otherwise in an individual Award
Agreement, in the event of a Change in Control (other than a Change in Control which also is a Corporate Transaction), each Award which is at the time outstanding under the Plan automatically shall become fully vested and exercisable and be released
from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value), immediately prior to the specified effective date of such Change in Control, for all of the Shares at the time represented by such Award,
provided that the Grantee’s Continuous Service has not terminated prior to such date. 
 13. Effective Date and Term of Plan. The
Plan shall become effective upon the later to occur of its adoption by the Board or its approval by the shareholders of the Company. The Plan shall continue in effect for a term of ten (10) years after the date of adoption, unless sooner
terminated. Subject to Applicable Laws, Awards may be granted under the Plan upon its becoming effective. 
 14. Amendment, Suspension or
Termination of the Plan. 
 (a) The Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment
shall be made without the approval of the Company’s shareholders to the extent such approval is required by Applicable Laws, or if such amendment would change any of the provisions of Section 4(b)(vi) or this Section 14(a). 

(b) No Award may be granted during any suspension of the Plan or after termination of the Plan. 

(c) No suspension or termination of the Plan (including termination of the Plan under Section 12, above) shall adversely affect any rights
under Awards already granted to a Grantee. 
 15. Reservation of Shares. 

(a) The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to
satisfy the requirements of the Plan. 
 (b) The inability of the Company to obtain authority from any regulatory body having jurisdiction,
which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such
requisite authority shall not have been obtained. 
 16. No Effect on Terms of Employment/Consulting Relationship. The Plan shall not
confer upon any Grantee any right with respect to the Grantee’s Continuous Service, nor shall it interfere in any way with his or her right or the right of the Company or any Related Entity to terminate the Grantee’s Continuous Service at
any time, with or without Cause, and with or without notice. The ability of the Company or any Related Entity to terminate the employment of a Grantee who is employed at will is in no way affected by its determination that the Grantee’s
Continuous Service has been terminated for Cause for the purposes of this Plan. 

 17. No Effect on Retirement and Other Benefit Plans. Except as specifically provided
in a retirement or other benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement plan of the Company or a Related Entity, and shall not affect
any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation. The Plan is not a “Retirement Plan” or “Welfare
Plan” under the Employee Retirement Income Security Act of 1974, as amended. 
 18. Vesting Schedule. Except as unanimously
approved by the Board, Options to be issued to the Grantees under the Plan shall be subject to a minimum four (4) year vesting schedule calling for vesting no faster than the following, counting from the applicable grant date or vesting
commencement date (as determined by the Administer) with respect to the total issued Options: the Option representing 25% of the Shares shall vest at the end of the first twelve (12) months commencing from the Vesting Commencement Date, with
remaining portions vesting in equal monthly installments over the next thirty-six (36) months. 

19. Drag-Along Events. Except as provided in the applicable Award Agreement or subplan, in the event of a Drag-Along Event, the Grantees
who hold any Shares upon exercise of the Award shall sell, transfer, convey or assign all of their Shares pursuant to, and so as to give effect to, the Drag-Along Event, and each of such Grantees shall grant to the Board or a Person authorized by
the Board, a power of attorney to transfer, sell, convey and assign his/her Shares and to do and carry out all acts and to execute all documents that are necessary or advisable to complete the Drag-Along Event. 

20. IPO. In the case of a IPO, the Grantees shall enter into any agreements with any underwriter, coordinator, bankers or sponsor
elected by the Company for the purpose of the IPO, and each of such Grantees shall grant to the Board or a Person authorized by the Board, a power of attorney to enter into any agreements with any underwriter, coordinator, bankers or sponsor elected
by the Company and to do and carry out all the acts and to execute all the documents that are necessary or advisable to complete the IPO. 

21. Service with Competitor. Notwithstanding Section 8(b), and except as provided in the applicable Award Agreement or subplan or
as otherwise determined by the Administrator, in the event a Grantee serves as the director, officer, employee (whether full time or part time), shareholder, representative or agent of a competitor of the Company and the Related Entities (the
“Service with Competitor”) after termination of the Grantee’s Continuous Service, with or without Cause, excluding any passive investment by way of shares or other securities of not more than 5% of the total issued share capital of
any company, the Grantee’s right to exercise the Option shall terminate immediately upon the date of the Service with Competitor, except as otherwise determined by the Administrator, and the Company shall have rights to repurchase all vested
Awards and exercised Shares held by the Grantee at a discount price determined by the Administrator. 

 22. Unfunded Obligation. Any amounts payable to Grantees pursuant to the Plan shall
be unfunded and unsecured obligations for all purposes. Neither the Company nor any Related Entity shall be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such
obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any
trust or any Grantee account shall not create or constitute a trust or fiduciary relationship between the Administrator, the Company or any Related Entity and a Grantee, or otherwise create any vested or beneficial interest in any Grantee or the
Grantee’s creditors in any assets of the Company or a Related Entity. The Grantees shall have no claim against the Company or any Related Entity for any changes in the value of any assets that may be invested or reinvested by the Company with
respect to the Plan. 
 23. Entire Plan. This Plan, the individual Award Agreements and any other document, together with all the
exhibits hereto and thereto, constitutes and contains the entire stock incentive plan and understanding of the parties with respect to the subject matter hereof and supersedes any and all prior negotiations, correspondence, agreements,
understandings, duties or obligations between the parties respecting the subject matter hereof (including any and all of the stock incentive plans of the Company before the date of this Plan). 

24. Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of
any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly
requires otherwise. 
 25. Modifications and Subplans. Without amending this Plan, the Administrator may grant awards to eligible
persons on such terms and conditions different from those specified in this Plan as may in the judgment of the Administrator be necessary or desirable to foster and promote achievement of the purposes of this Plan and, in furtherance of such
purposes the Administration may make such modifications, amendments, procedures, subplans and the like as may be necessary or advisable to comply with the Applicable Laws or market practices of the countries or jurisdictions in which the Company or
its Subsidiaries operates or has employees.

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