U Power Signs Initial Sales Agreement with Treep Mobility for the Purchase and Deployment of Fifty Two- and Three-Wheeled Vehicles, Eight Battery-Swapping Cabinets and Corresponding Number of Compatible Batteries

Accelerating Treep Mobility's Transformation from Fuel-Powered Vehicles to EVs Following Successful Pilot Deployment , /PRNewswire/ -- U Power Limited (Nasdaq: UCAR) (the "Company" or "U Power"), a provider of AI-powered solutions for next-generation energy grids and intelligent transportation systems, building on its proprietary UOTTATM electric vehicle (EV) battery-swapping technology, today announced that it has signed an initial sales agreement with Treep Mobility Group S.A.C. ("Treep Mobility"), a leading Moto Taxi operator in Peru. Under the agreements, Treep Mobility will purchase and deploy a total of fifty two- and three-wheeled vehicles, eight battery-swapping cabinets and a corresponding number of compatible batteries, all built on U Power's proprietary UOTTA™ electric vehicle (EV) battery-swapping technology. The sales agreements follow the successful pilot deployment of U Power's battery-swapping vehicles and cabinets in Peru in January 2025, which showcased the effectiveness of U Power's AI-empowered quick and intelligent battery-swapping solutions. These systems not only monitor real-time battery performance but also connect vehicles to a centralized cabinet network, enabling efficient energy management. Treep Mobility recognized U Power's battery-swapping vehicle operation model in maximizing vehicle uptime and boosting revenue potential. By transforming its fuel-powered taxi fleet to electric vehicles, Treep Mobility expects to reduce energy replenishment costs by approximately 30-40% compared to traditional fuel vehicles, while contributing to Peru's environmental sustainability goal, a key consideration in a market with over 100,000 registered moto taxis, part of a $324 million total market of motorcycles in the country growing at a CAGR of ~3%. Pursuant to the agreements, U Power will deliver a total of fifty two- and three-wheeled UNEX-branded vehicles to Treep Mobility for taxi services, and eight battery-swapping cabinets that will support the energy replenishment activities of the fleet. In addition, U Power will supply a corresponding number of swapping-compatible batteries to Treep Mobility to enable the daily operation of battery swapping cabinets. The initial order is valued at $113,000, and both parties agree to gradually expand their partnership through additional procurement agreements for the purchase and deployment of additional two/three-wheeled vehicles in Peru. Johnny Lee, CEO and Chairman of U Power commented, "We are excited to formalize our agreement with Treep Mobility, a reflection of our customer's satisfaction and confidence in our two/three-wheeled battery swapping solutions which have demonstrated a proven commercial and operational logic. We look forward to deepening our cooperation with Treep Mobility and expanding our market existence in the Peruvian market and beyond, as South America represents a tremendous electric motorcycles market, growing by over 300,000 new vehicles annually. As we continue to build our growth momentum and increase market exposure through this first step of expansion in South America, we look forward to introducing more of U Power's battery-swapping solutions into this vibrant and fast-growing market." About U Power Limited U Power is a provider of comprehensive AI-integrated energy solutions that connect electric vehicles (EVs) with advanced energy infrastructure, optimizing both mobility and grid performance. Originally a distributor of various battery-swapping station models built on its proprietary modular battery-swapping technology UOTTA™, U Power has evolved into a provider of AI-integrated solutions for energy grids and transportation systems. Through investments in next-generation technologies, U Power is building intelligent ecosystems that integrate resilient AI driven solutions able to transform EVs into dynamic energy assets. By incorporating AI algorithms, U Power's comprehensive solutions for smart energy grids are designed to support autonomous EV driving, optimize energy replenishment efficiency, and seamlessly connect EV assets with advanced AI-powered transportation systems, enabling peak and off-peak energy load balancing. For more information, please visit the Company's website: https://www.upower-limited.com/. Safe Harbor Statements This press release contains "forward-looking statements". Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "could," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "propose," "potential," "continue" or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to review other factors that may affect its future results in the Company's registration statements and other filings with the U.S. Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. References and links (including QR codes) to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Contact U Power Limited Investor Relations Department[email protected] The Equity GroupLena Cati, Senior Vice President212-836-9611 / [email protected] Alice Zhang, Associate212-836-9610 / [email protected] SOURCE U Power Limited WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

U Power Signs Initial Sales Agreement with Treep Mobility for the Purchase and Deployment of Fifty Two- and Three-Wheeled Vehicles, Eight Battery-Swapping Cabinets and Corresponding Number of Compatible Batteries

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