On February 1, 2026, PATEO CONNECT Technology (Shanghai) Corporation (hereinafter referred to as “PATEO CONNECT”) and Ping An Property & Casualty Insurance Company of China, Ltd. (hereinafter referred to as “Ping An P&C”) signed a framework cooperation agreement. The parties will focus on the deep consolidation of “AI + Vehicle Connectivity Technologies + Insurance Services” and break the industry boundaries between the automotive industry and the finance and insurance industry to materialize a leaping upgrade from “basic services” to “personalized and full-scenario empowerment” and open a brand-new chapter for the intelligent travel and insurance ecosystem, driving the industry’s transition from “post-event claims” to “pre-event prevention and mid-event intervention” and comprehensively upgrading the safety experience for users.

Pursuant to the Agreement, the Company and Ping An P&C will embark on deep strategic cooperation in three major areas:

I. Jointly create a new service model of AI and data integration

On the premise of strictly safeguarding data security, both parties will fully synergize their respective core advantages — PATEO CONNECT’s technological expertise and Ping An P&C’s professional capabilities in insurance and finance. Relying on the multi-dimensional data platform base as well as cloud and end-side core AI algorithms, they will jointly create intelligent and personalized insurance service experiences with ecosystem partners to constantly enhance user value and service satisfaction, ensuring every vehicle owner experiences the convenience and peace of mind brought by technology.

II. Jointly establish a leading “Vehicle-Insurance Linkage” safety ecosystem

Leveraging PATEO CONNECT’s deep technological accumulation in in-vehicle multi-modal interaction and cloud platform, the parties will deeply integrate the driving behavioral risks perception system with Ping An’s mature customer operation system to jointly create an industry-leading new model of “Vehicle-Insurance Linkage” with ecosystem partners, injecting strong momentum into the development of a strong transportation nation through technology and driving the safety upgrade of intelligent mobility.

III. Jointly expand the new horizons in smart mobility services

The parties will deeply integrate their ecosystem resources and merge driving safety with insurance services to provide users with one-stop travel solutions based on diversified travel scenarios. Simultaneously, they will actively explore innovations in embedded insurance and finance, lead the industry in forming a new ecosystem characterized by “technological empowerment, cross-industry integration, and synergistic development”, accurately capture market development opportunities, and jointly facilitate the iterative upgrade of the intelligent transportation ecosystem.

This strategic cooperation is both a significant measure for Ping An P&C to continue its exploration and deepen technological empowerment in the new energy vehicle insurance field, and another key strategic move for PATEO CONNECT under its “AI-driven” strategy, underscoring the Company’s firm determination to accelerate its layout within the intelligent mobility ecosystem.