Energy Monster Receives $1.77/ADS Buyout Proposal From Hillhouse; Offer Contingent On Management Rollover Agreement

Smart Share Global Limited (NASDAQ:EM) ("Energy Monster" or the "Company"), a consumer tech company providing mobile device charging service, today announced that the board of directors received a preliminary non-binding proposal letter, dated August 13, 2025, from Hillhouse Investment Management, Ltd. (together with its affiliates, "Hillhouse") to acquire all of the outstanding ordinary shares of the Company that are not already beneficially owned by Hillhouse or the Management Members (as defined below) for US$1.77 per ADS or US$0.885 per share in cash, subject to the acceptance by the Management Members of the similar rollover arrangement in the Merger Agreement (as defined below).

On August 1, 2025, the Company announced that it had entered into a definitive Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which the Company will be acquired by Trustar Mobile Charging Holdings Limited (together with its affiliates, "Trustar Capital"), Mr. Mars Guangyuan Cai ("Mr. Cai"), Chairman of the Board and Chief Executive Officer of the Company, Mr. Peifeng Xu ("Mr. Xu"), Director and President of the Company, Mr. Victor Yaoyu Zhang ("Mr. Zhang"), Chief Marketing Officer of the Company, and Ms. Maria Yi Xin, Director and Chief Financial Officer of the Company ("Ms. Xin", together with Mr. Cai, Mr. Xu and Mr. Zhang, the "Management Members", and together with Trustar Capital, the "Consortium"). For more details about the Merger Agreement, please refer to the Form 6-K furnished by the Company with the SEC on August 1, 2025.

The special committee of the Company's independent directors, which was formed following receipt of a preliminary non-binding proposal letter, dated January 5, 2025, from the Consortium will continue to consider and evaluate all options for the best interests of shareholders with the assistance of the special committee's independent financial and legal advisors.

The Board cautions the Company's shareholders and others considering trading the Company's securities that no decisions have been made with respect to this proposal from Hillhouse. There can be no assurance that any definitive agreement will be executed relating to the transaction contemplated by the proposal, or that the transaction contemplated by the proposal or any similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.