Exercise of Warrants

On December 31, 2012, holders of 2,590,000 warrants 
in Nio Inc. exercised their rights to buy 2,590,000 
shares in Nio Inc. at a share price of NOK 2.50 per 
share. Following the issue of the new shares, the 
number of outstanding shares will increase from 
147,334,309 to 149,924,309. The new shares are 
expected to be issued on or about January 4, 2013 and 
will be issued under the Company's 250,000,000 
authorized shares. As of January 1, 2013, 694,334 
options and no warrants are outstanding.

Bawa AS, a company owned by close associates of 
Bjarne Støtvig, board member and primary insider of 
Nio Inc., has exercised warrants with the right to 
buy 1,690,000 shares in Nio Inc. at a share price of 
NOK 2.50 per share. When the new shares are issued, 
close associates of Bjarne Støtvig will hold 
2,870,829 shares in Nio.

Tore Formo, CFO and primary insider of Nio Inc., has 
exercised warrants with the right to buy 800,000 
shares in Nio Inc. at a share price of NOK 2.50 per 
share. When the new shares are issued, Tore Formo and 
close associates will hold 2,674,855 shares and 
10,834 options in Nio.

For more information contact CEO Brian Palm Svaneeng 
Mertz, tel. +45 2390 3300.