U Power Limited Extraordinary General Meeting and Share Consolidation

U Power Limited announced an Extraordinary General Meeting of Shareholders to be held on May 19, 2026. The meeting agenda includes three key proposals: 1. Increasing the authorized share capital from $50,000 to $315,000 by creating additional Class A and Class B ordinary shares. 2. Adopting the Fourth Amended and Restated Memorandum and Articles of Association to reflect the increased share capital. 3. Implementing a share consolidation, where a range of 20 to 100 existing ordinary shares will be consolidated into one new ordinary share. This consolidation aims to ensure compliance with Nasdaq Listing Rule 5550(a)(2) regarding the minimum bid price per share. The company will not issue fractional shares; any fractional amounts will be rounded up. The Board of Directors recommends voting in favor of all three proposals.