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Ideanomics Enters into 50/50 JV with BBD to Establish an Investment Company Focused

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NEW YORK, — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce that it has entered into a 50/50 joint venture (JV) with Business Big Data PTE, Ltd./Seasail Ventures (BBD) to create an investment company focused on new infrastructure projects in China. The investment company will develop an AI-enhanced China New Infrastructure bond product, introduce capital, and fund advisory. The investment company will utilize BBD’s leading AI intelligence technology to provide risk management and selection models for equity and fixed-income products. Its bond product will be the first fund of its kind that enables investors to access value in China’s new infrastructure growth. The seven key development areas for new infrastructure construction are: 5G, UHV, intercity highways and intercity rail transit, new energy vehicle charging stations, big data centers, artificial intelligence, and the industrial Internet.

The joint venture company has plans to create an offshore fund that invests in Chinese bonds and equities that are focused on the New Infrastructure initiative. It will be the first of its kind to take advantage of cross border financial market opportunities and AI. This fund will capture two significant emerging trends: the application of AI in traditional financial services and China’s next economic upturn.

BBD is Asia’s leading provider of AI-based big data solutions dedicated to optimizing the efficiency and effectiveness of industrial-level decision-making and risk management. It’s products specialize in financial services, ranging from loan underwriting to portfolio management. BBD will use its AI platform to provide and execute services for the “intelligent” bond and stock risk control and investment decision-making for the joint venture company, including but not limited to: designing and maintaining a passive investment index that can be used as an investment reference benchmark for overseas ETFs and provide intelligent investment decision aid and intelligent risk management services.

Ideanomics anticipates its interest in ETF activities will be transferred to this JV entity in the effort to focus on the main business in the MEG Division. As previously communicated, Ideanomics continues to streamline its operations and expects to announce divestures of its non-core businesses throughout the year.

About Ideanomics

Ideanomics is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech products. Its electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity as well as financing and charging solutions. Ideanomics Capital includes DBOT ATS and Intelligenta which provide innovative financial services solutions powered by AI and blockchain. MEG and Ideanomics Capital provide our global customers and partners with better efficiencies and technologies and greater access to global markets.

The company is headquartered in New York, NY, and has offices in Beijing and Qingdao, China.

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