长城汽车股份有限公司 - gwm.com.cn

1 1 * * For identification purpose only 2018 3 Mar 2018 GREAT WALL MOTOR COMPANY LIMITED * 2017 2017 Annual Results 2 2 This presentation is prepared by Great Wa l l Motor Company Limited (the Company ) and is solely for the purpose of corporate communication and general reference only. The presentation is not intended as an offer to sell, or to solicit an offer to buy or form any basis of investment decision for any class of securities of the Company in any jurisdiction.

2 All such information should not be used or relied on without professional advice. The presentation is a brief summary in nature and do not purport to be a complete description of the Company, its business, its current or historical operating results or its future prospects. This presentation is provided without any warranty or representation of any kind, either expressed or implied. The Company specifically disclaims all responsibilities in respect of any use or reliance of any information, whether financial or otherwise, contained in this presentation. Disclaimer 3 2017 2016 Change (%) / Total Sales Volume/ 000 Units 1,061 1,069 SUV / SUV Sales Volume/ 000 Units 924 933 / To t al Operating Revenue/ RMB Mn 101,169 98,616 / Net Profit/ RMB Mn 5,043 10,554 1.

3 During the year under review, the Company carried out sales promotion of existing products through special offers such as offering discounts via shake red packets campaigns, which affect net profit 2. WEY In the future, the Company will continue to strengthen the competitive edges of the luxury brand WEY , rationalise the product mix of Haval and increase its profitability Results Highlights 4 Section 1 Auto Industry Overview 5 5 Stable growth in the PRC s auto industry Steady growth in auto industry sales volume 2017 1,085 In 2017, the sales volume of local brand PV reached million units, with a market share of , maintaining stable growth / Source: CAAM / Source.

4 CAAM, SIC 2017 Sales of PV by country in 2017 2017 2,888 The sales volume of the automobile industry in 2017 amounted to million units and continued to ranked first in the world for the ninth consecutive year with steady growth Mn units 0 5 10 15 20 25 30 35 40 2011 2012 2013 2014 2015 2016 2017 2018E 2019E 2020E 2011-2017 CAGR 2018-2020E CAGR 10,847 4,850 4,205 3,040 1,145 456 180 0% 10% 20% 30% 40% 50% 0 2,000 4,000 6,000 8,000 10,000 12,000 2016 2017 2017 Auto Industry Overview 000 units Local Ger- many Japan US Korea France Others Market share 6 6 Sales volume Market share 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 0 500 1,000 1,500 2,000 2.

5 500 SGM 0% 5% 10% 15% 20% 25% 30% 0 1 2 3 4 5 6 7 Top 10 auto makers in terms of sales volume Top 10 auto makers in terms of sales volume of PV Mn units 8 The Company is ranking the eighth in the auto industry , with a market share / Source: CAAM / Source: CAAM Top 10 auto makers in terms of sales volume SAIC DFG FAW CCAG BAIC GAC GWM Geely Chery Brilliance 000 units Sales volume Market share 8 The Company is ranking the eighth in the PV market, with a market share SVW FAW-VW SGMW Geely DFG CCAG Ford GWM BHMC CHANA Auto Industry Overview 7 7 0% 20% 40% 60% 80% 100% 2011 2012 2013 2014 2015 2016 2017 SUV MPV SUV Sales proportion of SUV and changes in PV market composition / Source.

6 CAAM SUV SUV as a % of PV in terms of sales volume SUV SUV The sales proportion of SUV had been growing steadily, reaching It is expected that SUV sales proportion will continue to increase . Sedan Cross type SUV MPV 0% 10% 20% 30% 40% 50% 60% 0 2 4 6 8 10 12 2011 2012 2013 2014 2015 2016 2017 SUV SUV SUV sales volume growth rate Mn units SUV Although the SUV segment s growth rate slowed down, it remained at a relatively high level and SUV was still the growth driver of PV Auto Industry Overview Sales volume SUV growth rate PV growth rate 8 8 SUV SUV sales by price and top 10 SUV makers in terms of sales volume SUV Top 10 SUV makers 000 units 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 0 100 200 300 400 500 600 700 800 900 1,000 2016 2017 2017 SUV The Group's total SUV sales volume continued to rank first.

7 Market share GWM CCAG Geely SAIC Motor DF HONDA SGMW SVW GAC Motor DFG SHGM / Source: CAAM 0% 20% 40% 60% 80% 100% 2011 2012 2013 2014 2015 2016 2017 8 Below 80K 8 -10 80K-100K 10 -15 100K-150K 15 -20 150K-200K 20 -25 200K-250K 25 above 250K 15-20 With consumption upgraded, there was potential market for SUV priced 150K-200K. SUV SUV sales volume by price Auto Industry Overview 9 Section 2 Operations Review 10 10 Total sales volume 000 units 621 771 733 846 1,069 1,061 0 200 400 600 800 1,000 1,200 2012 2013 2014 2015 2016 2017 Sales volume by category 000 units Pick-up truck SUV Sedan Others Total 125 924 12 1,061 - 200 400 600 800 1,000 1.

8 200 SUV 2015 2016 2017 Operations Review 11 11 Sales proportion by category SUV Sales volume of SUV 000 units Pick-up truck SUV Sedan Others 280 420 523 693 933 924 0 100 200 300 400 500 600 700 800 900 1,000 2012 2013 2014 2015 2016 2017 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2012 2013 2014 2015 2016 2017 SUV Operations Review 12 12 Key new models Operations Review VV7 H6 Brand new: Haval H6 VV5 13 13 2. Pilbara Minerals Investment in Australian Pilbara Minerals 2017 9 Pilbara Minerals 5,600 In September 2017, the Company subscribed 56,000,000 new shares in Pilbara Minerals in Australia through its wholly-owned subsidiary, and secured the right to off-take certain production of the Pilgangoora Lithium-Tantalum project.

9 The subscription will secure resources for the production chain of new energy vehicles of the Company. 1. Capital increase into Hebei Yogomo Motors Co., Ltd. ( Hebei Yogomo ) 2017 9 25 The Group obtained 25% of the equity interests in Hebei Yogomo by way of capital increase in September 2017. The Group and Hebei Yogomo will recognise their respective advantages in respect of new energy vehicle and will conduct joint research and cooperation in various aspects Strategic planning for new energy vehicles Operations Review 14 14 3. Cooperation with Bayerische Motoren We r k e Aktiengesellschaft ( BMW ) 2017 2 21 MINI On 21 February 2017, the Company and BMW signed an agreement to explore and evaluate the feasibility of cooperating on the production of vehicles under the MINI brand.

10 2018 2 23 On 23 February 2018, the Company and BMW entered into a letter of intent ( LOI ) on cooperation, pursuant to which both parties intend to use their respective technical and commercial expertise in the automotive industry to cooperate in the form of a joint venture. The cooperation shall mainly focus on new energy vehicles and future technology. After signing the LOI, both parties will further determine the investment scale, establish a business model and complete research projects on feasibility. Operations Review 15 Section 3 Financial Review 16 16 Balance Sheet As at 31 Dec 2017 As at 31 Dec 2016 As at 31 Dec 2015 Change (%) Current assets 69,293 53,928 40,390 Including.