ECARX to Acquire DreamSmart Interest via Qualcomm Share Exchange

ECARX Holdings Inc. has entered into a share exchange agreement with Qualcomm Ventures LLC. Under the agreement, Qualcomm will acquire 10,329,562 ECARX Class A ordinary shares at a price based on the 20-day volume weighted average price. This transaction facilitates ECARX's previously announced plan to acquire a minority interest and intellectual property rights from DreamSmart, with Qualcomm transferring its equity interest in DreamSmart as consideration. The closing is anticipated in August 2026, subject to customary conditions, and the shares acquired by Qualcomm will have a six-month lock-up period.