U Power Limited announced that Mr. Bo Lyu resigned from the board of directors of the Company (the ?Board?) on January 31, 2024, and that the Board has appointed Jean Christophe von Pfetten (?Prof. Pfetten?) as an independent director of the Company, as well as a member of the Board's Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee, effective February 1, 2024. Prof. Pfetten is an accomplished diplomat and academic who has served as Chairman of the Institute for East-West Strategic Studies since October 1997, visiting professor at People's University of China since September 1999, Chairman of Thornehope Limited (HK) since September 2001, and Bye-fellow of Emmanuel College (Cambridge University) since May 2015. He also served as a member of the board of the International Financial Bank (FinInt Italy) for three years from January 2019 to December 2022.

Prof. Pfetten is the author of a book entitled ?Insights from China: Leadership, Policy and New World Order? published in 2015, and more than thirty articles on Corporate Governance, Political Economics and International relations. He received a Bachelor of Science and a Master of Science (Physics and Chemistry) from the University of Strasbourg in 1988 and 1989, respectively, and a Dipl.

Eng. in Geophysics from the Institut de Physique du Globe in 1990.