United Power Technology AG: Change in the Management Board and Supervisory Board

Ad-hoc-Announcement pursuant to Section 15 German Securities Trading Act (WpHG)

Eschborn, Germany, 5 November 2020 - New Supervisory Board and Management Board member appointment.

United Power Technology AG today announces that The Supervisory Board elected Mr. York Liu as Chairman of the Supervisory Board of United Power Technology AG as substitute member for retired Mr. Song, Wei with effect on 6 August 2020. Mr. Yumi Lin as a member of the Company' s Supervisory Board as substitute member for retired Mr. Wu Wenhai. Mr. Ronald Liu as a member of the Company's Supervisory Board as substitute member for retired Mr. Krolicki Brian Keith.

United Power Technology AG today also announces that Mr. Zhong Dong Huang has resigned as CEO and Member of Management Board of the Company for personal reasons with effect on 9 September 2020, whose deregistration with the court have been completed. The Supervisory Board of United Power Technology AG appointed Mr. Cuan Li as the new Member of Management Board of United Power Technology AG with effect on 10 September 2020.

Also, Mr. Jiayang Zhong has resigned as CFO and Member of Management Board of the Company for personal reasons with effect on 13 September 2018, whose deregistration with the court have been completed.

- End of Ad-hoc-Announcement -