ARTICLES OF ASSOCIATION for Hybricon Bus System AB (publ)

§ 1 Company name The company’s company name is Hybricon Bus System AB (publ).

§ 2 Seat of the Board The board shall have its seat in Umeå municipality.

§ 3 Activities The company shall conduct marketing and sales of vehicles with associated infrastructure and related activities, primarily in the form of service and consulting services in vehicle technology.

§ 4 Share capital The share capital must be a minimum of SEK 4,967,000 and a maximum of SEK 19,868,000.

§ 5 Number of shares The number of shares shall be a minimum of 4,967,000 and a maximum of 19,868,000.

§ 6 Board The board shall consist of a minimum of four and a maximum of six board members.

§ 7 Auditors An auditor with or without a deputy is appointed to review the company’s annual report together with the accounts and the Board of Directors’ and the President’s administration.

§ 8 Notice Notice of a general meeting shall be given by advertising in Post- och Inrikes Tidningar and on the company’s website. That a summons has been issued shall be announced in Svenska Dagbladet. In order to participate in the Annual General Meeting, shareholders must register with the company no later than the day specified in the notice convening the meeting, in which case the number of assistants must be stated. This day may not be Sunday, another public holiday, Saturday, Midsummer’s Eve, Christmas Eve or New Year’s Eve and may not fall earlier than the fifth weekday before the meeting.

§ 9 Matters at the Annual General Meeting The following matters shall be discussed at the Annual General Meeting.

1. Election of chairman.

2. Establishment and approval of the ballot paper.

3. Selection of one or two adjusters.

4. Examination of whether the meeting has been duly convened.

5. Approval of agenda.

6. Presentation of the annual report and the auditor’s report.

7. Decision on the following.

a) Adoption of the income statement and balance sheet.

b) Appropriations regarding the company’s profit or loss according to the approved balance sheet.

c) Discharge of liability for the members of the Board of Directors and the CEO.

8. Determination of the number of board members and auditors.

9. Determination of fees to the board and auditor.

10. Election of the board, chairman of the board and auditor.

11. Election of Nomination Committee.

12. Other matters, which are to be discussed at the meeting in accordance with the Swedish Companies Act (2005: 551) or the Articles of Association.

§ 10. Financial year The company’s financial year shall be 1 January – 31 December.

§ 11. Reconciliation reservation The company’s shares must be registered in a record register in accordance with the Act (1998: 1479) on central securities depositories and accounting of financial instruments.

Adopted at the Annual General Meeting on May 11, 2021.