Management to Host Annual General Meeting on Friday, September 1, 2023, at 8:30 a.m. Eastern Time.

Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, today announced that it will hold its annual general meeting Friday, September 1, 2023, at 8:30 a.m. Eastern Time (Friday, September 1, 2023, at 8:30 p.m. Shanghai Time and Friday, September 1, 2023, at 10:30 p.m. Australian Eastern Time) at 11840 Beach Blvd., Ste. 1 in Jacksonville, Florida (the “Meeting”).

Eligible shareholders or their proxies wishing to attend the Meeting are asked to arrive at least 30 minutes prior to commencement of the Meeting. If you are attending the Meeting in person, you will need to request a ballot to vote these shares. Otherwise, once in receipt of your proxy statement you may vote by accessing www.ProxyVote.com and entering your control number which is indicated on your proxy statement. Alternatively, shareholders may vote by touch-tone telephone by dialling 1-800-690-6903 and following the call instructions or by mailing your proxy card to the address indicated therein.

Copies of the Company’s notice of Meeting, explanatory memorandum and related materials are available on the Company’s investor relations website at ir.cenntroauto.com and at www.materials.proxyvote.com/Q6519V (the “Meeting Materials”). Please check the Meeting Materials for any special requirements for meeting attendance. Prior to August 18, 2023, you may also request a free paper or email copy of the Meeting Materials by calling 1-800-579-1639 or sending an email to sendmaterial@proxyvote.com. If sending an email, please include your control number in the subject line of the email. Your control number is indicated on your proxy statement. Unless requested, you will not otherwise receive a paper or email copy of the Meeting Materials.

About Cenntro Electric Group Ltd.

Cenntro Electric Group Ltd. (or "Cenntro") (NASDAQ: CENN) is a leading designer and manufacturer of electric commercial vehicles. Cenntro's purpose-built electric commercial vehicles are designed to serve a variety of organizations in support of city services, last-mile delivery, and other commercial applications. Cenntro has committed to lead the transformation of commercial fleets to zero-emissions vehicles and develop a full line of zero-emission commercial vehicles through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. For more information, please visit Cenntro's website at: www.cenntroauto.com.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),'' "project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 30, 2023 and which may be viewed at www.sec.gov.

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