Surf Air Mobility

EZGO Announces Signing Of Distribution Contract To Deliver 10,000 E-bicycles Following Successful Participation In Tianjin International Exhibition

16 April 2021

EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or the "Company"), a leading short-distance transportation solutions provider in China focusing on the sale of two electronic bicycle ("E-bicycle") brands, "Cenbird" and "Dilang," today announced that the Company signed a contract with a supply chain company located in Hebei, China to sell no less than 10,000 E-bicycles annually.

The sale followed the Company's participation in the 20th Annual Northern China International Bicycle and Electric Bicycle Exhibition, where EZGO also developed relationships with over 30 new distributors. The exhibition lasted for three days, with more than 600 bicycle and E-bicycle companies participating. While the event has historically featured bicycles, it has highlighted the development of E-bicycles, and included major well known E-bicycle brands in China.

The event served as an opportunity for participants to introduce various new models and technologies, while receiving orders from various sales agents and direct buyers. EZGO's display featured its "Dilang" brand with the theme of "Intelligence, Entertainment and Fast Charging." The Company's focus during the event was to highlight its advances in technology and its new models, including two and three-wheeled models with multimedia integration.

The Company also received orders from various groups or companies at the exhibition, including 1,000 units of light electric motorcycles ("e-mopeds"). We believe the high quality with competitive price make our e-mopeds attractable.

Management Commentary

Mr. Jianhui Ye, Chief Executive Officer of EZGO, commented, "One of EZGO's objectives in 2021 is to refine our sales and marketing strategy by emphasizing the technological advantages of our two main brands, Dilang and Cenbird and channel penetration strategy. The Tianjin exhibition is one of the most important live exhibitions of the year for EZGO, as one of our manufacturing facilities is also located in the city. The exhibition served as an opportunity to display our products to a rapidly growing audience."

About EZGO Technologies Ltd.

Leveraging an Internet of Things (IoT) product and service platform and two E-bicycle brands, "Cenbird" and "Dilang, " EZGO has established a business model centered on the manufacturing and sale of E-bicycles and E-bicycle rentals, complemented by E-bicycle charging pile business.

Visit EZGO on the web at Investors can visit the Company at the "Investor Relations" section of EZGO's website at

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the short-distance transportation solutions market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof.

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