PRIVACY POLICY

Last Updated: December 07, 2023

Microvast Holdings, Inc. (referred to herein, together with its subsidiaries and affiliates, as “Microvast”, “we”, “us” or “our”) is committed to protecting your privacy. This Privacy Policy (this “Policy”) describes how we collect, use and share personal information in connection with:

We refer to our Site, communications, online and offline activities, services and operations, collectively, as the “Services.”

While reviewing this Policy, here are a few important things to keep in mind:

We reserve the right to modify this Policy at anytime. If we make any material changes to this Policy, we will provide notice that changes have been made to this Policy by updating the “Last Updated” date at the top of this Policy and posting it on the Site. While we may also provide notification of changes in another way that we believe is reasonably likely to reach relevant individuals, such as via e-mail or through the Services, you are responsible for ensuring that we have an up-to-date active and deliverable e-mail address for you and for periodically visiting our Site and this Policy to check for changes.

Any modifications to this Policy will be effective upon our posting the modified version (or as otherwise indicated at the time of posting). In all cases, continued use of the Services after the posting of any modified Policy indicates understanding and acceptance of the terms of the modified Policy.

PLEASE REVIEW THE FOLLOWING CAREFULLY SO THAT YOU UNDERSTAND OUR PRIVACY PRACTICES.

Please note that refusal to provide Personal Information may result in our inability to provide the Services to you, to manage our relationship with you or to improve the Services. In addition, please review our Terms of Use, which may apply to your use of our Site. This Policy is incorporated by reference into the Terms of Use.

All data is stored in the U.S. and subject to U.S. laws, but depending on the laws applicable to you, you may benefit from additional specific rights. We provide important information for residents of certain U.S. states in the “Notices to U.S. Residents” section and for residents of Europe in the “Notices to Residents of Europe (including Switzerland and the UK)” section.

1. PERSONAL INFORMATION WE COLLECT

We generally collect information from the following sources: provided to us directly by you, collected through automated technologies and collected from a third party.

Personal data categories Purpose
Name and contact information;

payment information;

Communications;

Internet and network activity;

[geolocation];

To operate and improve the Services;

To communicate with you about the Services, including by sending announcements, updates, security alerts and support and administrative messages;

To communicate with representatives of our clients and other individuals in connection with providing, operating and improving the Services;

To respond to requests, questions and feedback;

To perform other internal business operations;

To carry out our legal obligations and enforce our rights, including for billing and collection; and

In any other way that we may describe when you provide such information.

Information you provide to us. Personal Information that we collect directly from you through the Services or otherwise may include:

2. HOW WE USE INFORMATION

We require this information to understand your needs and provide you with better Services, in particular for the following reasons:

This means we may:

Service delivery and business operations. We use your Personal Information or Usage Information that we collect about you for the purpose of providing the Services, as well as:

Research and development. We may use Personal Information to analyse and improve the Services and our business and operations, such as including

Personal Information in our data analytics.

Marketing. We may send announcements about us, information about online or mobile entry sweepstakes or other promotions and other marketing communications as permitted by law. We may also use Usage Information to enhance our ability to serve you, to tailor our content to you and to offer you incentives and opportunities to purchase products or services that we believe may be of interest to you. [When we process data based on a person’s consent for marketing activities, we will communicate with the person separately to confirm the consent was given by that person for the purposes.]

Social Media. This Site uses interfaces with social media sites such as Facebook, LinkedIn, Twitter, and others. If you chose to “like” or share information from the Site through these services, you should review the privacy policy of that service. If you are a member of a social media site, the interfaces may allow the social media to connect your site visit to your personal data.

To comply with applicable law. We may use and share Personal Information and disclose it to law enforcement, government authorities and private parties as we believe necessary or appropriate to comply with applicable laws, lawful requests and legal processes, such as to respond to subpoenas or requests from government officials.

For compliance, fraud prevention and safety. We may share Personal Information and disclose it to law enforcement, government authorities and private parties as we believe necessary or appropriate to: (i) protect our or others’ rights, privacy, safety or property (including by making and defending legal claims); (ii) audit our internal processes for compliance with legal and contractual requirements; (iii) enforce the terms and conditions that govern the Services (including by investigating potential violations thereof); and (iv) detect, prevent or otherwise address fraudulent, harmful, unauthorized, unethical or illegal activity, including cyber attacks and identity theft; or prevent or stop activity we may consider to be, or to pose a risk of being, an illegal, unethical, or legally actionable activity. Further, we may use IP addresses or other Device Identifiers to identify users and may do so in cooperation with third parties, such as copyright owners, internet service providers, wireless service providers and law enforcement agencies, including disclosing such information to third parties, to protect against potential or actual infringements or other violations of intellectual property. Such disclosures may be carried out without notice to you.

With consent. In some cases, we may specifically ask for consent to collect, use or share Personal Information, such as when required by applicable law.

To create anonymous data. We may create aggregated, de-identified or other anonymous data from any Personal Information we collect. We may make Personal Information into anonymous data by removing information that makes the data personally identifiable to any specific person. We may use this anonymous data and share it to third parties for our lawful business purposes, including to analyse and improve the Services and promote our business.

3. HOW WE SHARE COLLECTED INFORMATION

We do not sell, share, rent or trade the information we have collected about you, including Personal Information, with third parties without consent, except in the following circumstances or as described elsewhere in this Policy.

Service providers. We may share Personal Information with third-party companies and individuals that provide services on our behalf or help us operate the Services or our business (such as IT, hosting, designing or operating the Services’ features, tracking the Services’ analytics, processing payments, human resource services, e-mail delivery, marketing, event management or other administrative services). Our service providers are obligated to protect the confidentiality of Personal Information and are only permitted to use the Personal Information to provide services to us. Please note that while we do not share Personal Information with analytics service providers, they may set and access their own cookies, web beacons and embedded scripts on your Device, and they may otherwise collect or have access to information about you, including non-personally identifiable information.

Social Media Features. Our online and mobile Services may include social media features, such as a “Like” button, and widgets such as a “Share This” button, or interactive mini-programs that run on our online and mobile Services. These features may collect your IP address, which page you are visiting on our online or mobile Services and may set a cookie to enable the feature to function properly. Social media features and widgets are either hosted by a third party or hosted directly on our online Services. Your interactions with these features and widgets are governed by the privacy policy of the company providing them.

Professional advisors. We may share Personal Information with professional advisors, such as lawyers, auditors and insurers, where necessary in the course of the professional services that they render to us.

We may share Personal Information as we believe necessary or appropriate to comply with applicable laws, lawful requests and legal processes, such as to respond to subpoenas or requests from government authorities.

For compliance, fraud prevention and safety. We may share Personal Information and disclose it to law enforcement, government authorities and private parties as we believe necessary or appropriate to: (i) protect our or others’ rights, privacy, safety or property (including by making and defending legal claims); (ii) audit our internal processes for compliance with legal and contractual requirements; (iii) enforce the terms and conditions that govern the Services (including by investigating potential violations thereof); and (iv) detect, prevent or otherwise address fraudulent, harmful, unauthorized, unethical or illegal activity, including cyberattacks and identity theft; or prevent or stop activity we may consider to be, or to pose a risk of being, an illegal, unethical, or legally actionable activity. Further, we may use IP addresses or other Device Identifiers to identify users and may do so in cooperation with third parties, such as copyright owners, internet service providers, wireless service providers and law enforcement agencies, including disclosing such information to third parties, to protect against potential or actual infringements or other violations of intellectual property. Such disclosures may be carried out without notice to you.

Based on instructions. We may share your Personal Information with third parties at your instruction or request or with your consent. If you do agree to have your Personal Information shared, your Personal Information will be disclosed to such third parties and all information you disclose will be subject to the privacy policies and practices of such third parties. We are not responsible for the privacy policies and practices of such third parties and, therefore, you should review the privacy policies and practices of such third parties prior to agreeing to receive such information from them. If you later decide that you no longer want to receive communication from a third party, you will need to contact that third party directly.

Business Transfer. We may share your information, including your Personal Information and Usage Information, with our subsidiaries and affiliates for internal record-keeping and to improve the Services. We may also disclose and transfer all such information to a subsequent owner, co-owner or operator of the Services or applicable database, or in connection with a corporate merger, consolidation, restructuring, the sale of substantially all of our shares or assets or other corporate change, including, during the course of any due diligence process.

We may disclose aggregated, deidentified or otherwise anonymous data about our users, which does not identify any individual, without restriction. The Site uses interfaces with social media sites such as Facebook, LinkedIn, Twitter and others. If you choose to “like” or share information from the Site through these services, you should review the privacy policy of that service. If you are a member of a social media site, the interfaces may allow the social media site to connect your site visit to your personal data.

4. INDIVIDUAL CHOICES

Review Personal Information and request changes. If you have registered with the Services or have an account through the Services, you can review and change your Personal Information on your user account.

You are responsible for maintaining the accuracy of the information you submit to us, such as your contact information provided as part of account registration and any Submissions. If your Personal Information changes, or if you no longer desire our Services, you may correct, delete inaccuracies, or amend information by making the change on our member information page or by contacting us through our support page.

Please understand that we may not be able to alter or delete Personal Information if we are required under applicable law to maintain that information. We are also not obligated to comply with requests that are illegal or unreasonably burdensome or expensive, or with requests that would interfere with the rights of another individual. In addition, we may not be able or obligated to provide access to Personal Information in cases where we hold and process Personal Information on behalf of one of our clients.

Individual rights. Some individuals may have certain rights under applicable laws, with respect to their Personal Information. These may include rights to access, correct or delete Personal Information, portability rights or rights to object or restrict to certain processing of Personal Information. For those who wish to exercise rights they hold under applicable law, please contact us as directed by the “How to Contact Us” section. We will process requests as required under applicable laws. Please note that we may take steps to verify the identity of the person who submits a request in order to protect Personal Information.

Please understand that not all individuals hold rights with respect to Personal Information and that laws granting such rights may not apply to us. We are also not obligated to comply with requests that are illegal or unreasonably burdensome or expensive, or with requests that would interfere with the rights of another individual. In addition, we may not be able or obligated to accommodate the exercise of rights with respect to Personal Information in cases where we hold and process Personal Information on behalf of one of our clients.

Opt-out of marketing communications.

You may cancel or modify your marketing-related communications that you have elected to receive from the Services by following the instructions contained in our e-mails or other communications or by logging into your user account and changing your communication preferences. If you opt out of marketing communications, you may continue to receive service-related, account-related or other non-marketing e-mails.

Cookies. Internet browsers may be configured to reject or disable cookies, as described in browser documentation. Please understand, however, that rejecting or disabling cookies may affect one’s experience of the Site or interfere with the ability to access areas or functions of the Site.

Online advertising. We do not track our customers over time and across third party websites to provide targeted advertising and therefore do not respond to Do Not Track (DNT) signals. However, some third-party sites do keep track of your browsing activities when they serve you content, which enables them to tailor what they present to you. If you are visiting such sites, your browser may allow you to set the DNT signal on your browser so that third parties (particularly advertisers) know that you do not want to be tracked.

Declining to provide information. One can always decide not to provide Personal Information. However, we need to collect Personal Information to provide certain Services. If we do not connect the information  requested, we may not be able to provide those Services.

A few of the methods that may be used to collect Usage Information include, without limitation, the following (and subsequent technologies and methods hereafter developed):

Cookies. A cookie is a small file that asks permission to be placed on your computer’s hard drive. Once you consent, the cookie file is added, which helps analyse web traffic or lets you know when you visit a particular site. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes, and dislikes by gathering and remembering your preferences. We use traffic log cookies to identify which pages are being used. This helps us analyse data about webpage traffic and improve our Site. We only use this information for statistical analysis, and the data is removed from the system.

Overall, cookies help us provide a better online experience by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you other than the data you choose to share with us. You can decline cookie files on our cookie consent form.

Web Beacons. Small graphic images or other web programming code called web beacons (also known as pixel tags and clear GIFs) may be included in our Site and messages. The web beacons are tiny graphics with a unique identifier, similar in function to cookies, and are used to track your online movements. In contrast to cookies, which are stored in your computer hard drive, web beacons embedded invisibly on Web pages and are about the size of the period at the end of this sentence. Web beacons help us better manage content on our Services by informing us what content is effective, count users of the Services and track the actions of users of the Services (including e-mail recipients). We do not tie the information gathered by web beacons to your Personal Information.

Embedded Scripts. An embedded script is programming code that is designed to collect information about your interactions with the Services, such as the links you click on. The code is temporarily downloaded onto your Device from our web server or a third-party service provider, is active only while you are connected to the Services and is deactivated or deleted thereafter.

We may combine the information we receive from those sources with information we collect through the Services. In those cases, we will apply this Policy to any Personal Information received, unless we have disclosed otherwise.

Analytics

We use Google Analytics to constantly improve your browsing experience on our Site. To opt out of Google Analytics data collection, you will need to remove all cookies which begin with two underscore characters. Examples include:

__utma

__utmb

__utmc

__utmz

Removing a cookie. Removing a cookie varies depending on which browser you are using.

This Policy does not govern such websites. You should exercise caution and look at the privacy policies and procedures applicable to the website in question.

Our use of cookies and similar tracking technologies depends on their classification. Please see the following table for our use of cookies and their respective description and lawful basis.

Classification Description Lawful basis
 

 

Necessary

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data. We have a legitimate interest in offering a functional website. Art. 6 Sec. 1 f) GDPR

 

 

 

First Party Analysis

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

First Party Analysis cookies are used by us to understand, how our website is being used. The findings of these analyses help us to adapt our website to the wishes and needs of our visitors. The information collected by the cookies is not passed on to third parties.

We have a legitimate interest in offering a functional website. Art. 6 Sec. 1 f) GDPR

 

Data is stored and accessed on the basis of consent. § 25 Sec. 1 Telekommunikations-Telemedien-Datenschutzgesetz  (TTDSG)
 

 

Third Party Analysis

Third-party analysis cookies and tracking tools also measure the use of the website or the effectiveness of online advertising. However, this measurement and the associated data processing is carried out by third party companies under their own responsibility. Data processing is based on consent. Art. 6 Sec. 1 a) GDPR

 

Data is stored and accessed on the basis of consent. § 25 Sec. 1 TTDSG
 

 

Functional

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features. We have a legitimate interest in offering a functional website. Art. 6 Sec. 1 f) GDPR

 

If the respective function is not a basic service of the website, the storage of and access to data is based on consent. § 25 Sec. 1 TTDSG
 

 

Advertisement

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns. Data is stored and accessed on the basis of consent. Art. 6 Sec. 1 a) GDPR
Data is stored and accessed on the basis of consent. § 25 Sec. 1 TTDSG

 

CHILDREN’S PERSONAL INFORMATION

No part of the Services is directed towards children under the age of 13, and we do not knowingly collect, maintain or use Personal Information from children under the age of 13.

The Services are not intended for individuals that are younger than 13 years old, whose age makes the processing of their personal data unlawful, or requires parental consent to the processing of their personal data.

If you learn that your child has provided us with Personal Information without your consent, please contact us as directed by the “How to Contact Us” section. If we learn that we have collected any Personal Information from children under 13, we will promptly take steps to delete such information and terminate the child’s account in compliance with the Children’s Online Privacy Protection Act (COPPA) and the GDPR.

SECURITY OF YOUR INFORMATION

We are committed to ensuring that your information is secure. We have implemented measures to secure the Personal Information and Usage Information we collect within our databases. To prevent unauthorized access or disclosure, we safeguard and secure the information we collect online via electronic and managerial procedures.

We implement appropriate technical and organizational measures to ensure a level of security appropriate to the risk, taking into account the state of the art, the costs of implementation and the nature, scope, context and purposes of our processing as well as the risk of varying likelihood and severity to your rights and freedoms. Unfortunately, the Internet can never be 100% secure and we cannot ensure or warrant the security of any information you provide us. We do not accept liability for unintentional disclosure and any information you transmit to is, you do so at your own risk. We

THIRD PARTY CONTENT AND LINKS TO THIRD PARTY SERVICES

Our Site may contain links to other websites of interest, and those websites may collect website usage information and your Device Identifier when web pages from any online Service are served to your browser. However, once you have used any of these links to leave our site, you should note that we do not have any control over such other websites. Therefore, we cannot be responsible for the protection and

recommend that you not disclose your passwords to anyone. We are not responsible for circumvention of any privacy settings or security measures contained on the Site.

We will retain your Personal Information and Usage Information for as long as your account with the Services is active or as needed to provide you Services. Even after your account is terminated, we may retain your Personal Information and Usage Information as needed to comply with our legal and regulatory obligations, resolve disputes, investigate or prevent fraud and other inappropriate activity and to enforce our agreements.

 INTERNATIONAL DATA TRANSFERS

We maintain offices and facilities in the United States, and Personal Information may be transferred to the United States or other locations outside of your state, province or country of residence, where privacy laws may not be as protective as those in the state, province or country where you reside.

If you are visiting from the European Union or other regions with laws governing data collection and use, please note that you are agreeing to the transfer of your information to the United States and processing globally.  By providing your information, you consent to any transfer and processing in accordance with this Policy.

HOW TO CONTACT US

Please direct any questions or comments about this Policy or our privacy practices to [email protected]. We can also be contacted via postal mail at:

Microvast Holdings, Inc.

12603 Southwest Freeway, Suite 300

Stafford, Texas 77477

U.S.A.

NOTICES TO U.S. RESIDENTS

This section applies to California, Colorado, Connecticut, Utah and Virginia residents and outlines an individual’s rights and choices with respect to our processing of an individual’s personal data under the respective state consumer privacy regulations.

For business purposes, in the last 12 months, we may have collected, used and shared personal data about individuals as described in this Policy. To learn more about the personal data we collect, including the specific pieces of personal data collected, sources of collection, our purposes for collection and the categories of service providers with whom we share personal data, please see the “Personal Information We Collect”, “How We Use Information” and “How We Share Collected Information” sections of this Policy.

We do not sell personal data for business or commercial purposes. Microvast takes your privacy seriously. When you submit a request to exercise your rights, we will respond in the appropriate timeframe permitted under applicable law. You may request to access your information, delete your information, and opt out of the sale of personal information.

Right to Know. Any person has the right to know the categories and specific pieces of personal data we have collected about them in the previous 12 months.

Right to Deletion. Any person has the right to request that we delete any personal data we have collected about them.

Right to Request Information. Any person has the right to request information about our collection, sale and disclosure of their personal data from the previous 12 months.

Right to Opt-out of the Sale of Personal Data. Any person has the right to opt-out of the sale of personal data we have collected about them. As of the date of this Policy, we do not sell personal data. Right to Non-Discrimination. Any person has the right to not receive discriminatory treatment for exercising any rights afforded to them. We will not treat any person differently for exercising any of the rights described above. Exercising Individual Rights. To exercise any of your rights as described above, please contact us as directed by the “How to Contact Us” section. We will fulfill requests within 45 days of receiving a request. Some of these rights may be subject to limitations and qualifications, such as where fulfilling the request would conflict with federal, state or local law, regulatory inquiries, subpoenas or our ability to defend against legal claims.

We will verify a request using the individual’s e-mail address. If an individual has created an account with us, we will also verify their request using the information associated with their account, including (https://microvast.com) billing information. Government identification may be required. We cannot respond to an individual’s request if we cannot verify their identity and/or authority to make the request on behalf of another and confirm the personal data relates to them. Making a verifiable consumer request does not require any person to create an account with us.

If an individual wishes to use an authorized agent to submit a request to opt-out on their behalf, they must provide the authorized agent written permission signed by them, the consumer. We may deny a request from an authorized agent if the agent cannot provide to us the individual’s signed permission demonstrating that the agent has been authorized to act on their behalf.

 NOTICES TO RESIDENTS OF EUROPE (INCLUDING SWITZERLAND AND THE UK)

This section applies to individuals located in the European Economic Area (the “EEA”), the United Kingdom (the “UK”) or in Switzerland and outlines additional information about a person’s rights and choices regarding our processing of their personal data under the General Data Protection Regulation (“GDPR”) or equivalent laws in Switzerland and the UK. If you are a resident of these regions, the corresponding provisions take precedence.

We collect and process personal data about a person only where we have a legal basis for doing so under applicable data protection laws.

Every person has the right of access under Article 15 GDPR, the right to rectification under Article 16 GDPR, the right to erasure under Article 17 GDPR, the right to restriction of processing under Article 18 GDPR and – where applicable – the right to data portability under Article 20 GDPR. You also have the right to lodge a complaint with a data protection supervisory authority (Article 77 GDPR). The rights to information, rectification, erasure and restriction of processing can be asserted by contacting us as directed by the “How to Contact Us” section.

We will fulfill an individual’s request within 30 days of receipt unless an exception applies. If an individual has concerns unresolved by us, they may also address any grievance directly with the relevant Supervisory Authority  or the ICO(for UK-based individuals).

Contact Details for Our Data Protection Officer and EU Representative

Microvast Holdings, Inc. (12603 Southwest Freeway, Suite 300, Stafford, Texas 77477 U.S.A.) is the controller for Personal Information collected in connection with the use of the Services in the EEA, the UK and Switzerland. Our Data Protection Officer can be contacted as directed by the “How to Contact Us” section.

For EU personal data protection, we have nominated a GDPR Representative, Herr Björn Schmidt, who may be contacted at:

Herr Björn Schmidt

HafenstraBe 1a

23568 Leabeck

Fon: +49 451 –16 08 52–31 [email protected]

 

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