NaaS Technology Inc’s planned acquisition of Charge Amps AB is terminated

22.11.2023, STOCKHOLM, SWEDEN: On 22 August 2023, it was announced that
Charge Amps AB (“Charge Amps”) had entered into a definitive agreement with
NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS”) for NaaS to acquire all shares in
Charge Amps.

Charge Amps confirms today that the agreement between Charge Amps and NaaS
has been terminated.

Charge Amps will therefore remain under the ownership of the current shareholders,
including Skellefteå Kraft, OK ekonomisk förening, and Charge Amps’ Founder
Fredrik Jonsson and co-founder Boel Rydenå-Swartling.

Joachim Nordin, CEO of Skellefteå Kraft, comments: “It is naturally regrettable that
the deal has fallen through, since we viewed this as a positive step for the further
development of Charge Amps. But as we now remain shareholders we will continue
to act for the positive development of the business. We believe in Charge Amps and
see an exciting and robust future for the company.”

Andrea Gisle Joosen, Chair of the Board at Charge Amps, comments: “The board
remains in full support of Charge Amps, and we feel optimistic about the path
forward from here. The acquisition was one of several long-term financing options
we considered, and while this news is disappointing, it has no significant impact on
the company’s strategy going forward. We have the complete backing from our
shareholders, and we will continue building Charge Amps’ business with full power
ahead.”

Olle Tholander, CEO of Charge Amps, comments: “Our strategy remains clear and
unchanged: we will continue to develop and expand our competitive offering within
the rapidly growing EV charging market. We stand strong as we continue our journey
from here in close collaboration with our Board of Directors and shareholders.”