BRIEF-Aramco Signs Letter Of Intent With Geely And Renault Group For New Powertrain Company

SAUDI ARABIAN OIL CO: * ARAMCO SIGNS LETTER OF INTENT WITH GEELY AND RENAULT GROUP FOR NEW POWERTRAIN COMPANY TO FOCUS ON LOWER EMISSION TECHNOLOGIES

* ARAMCO SIGNED A LETTER OF INTENT TO BECOME A POTENTIAL MINORITY STAKEHOLDER IN A NEW POWERTRAIN TECHNOLOGY COMPANY (PWT), TO BE ESTABLISHED BY GEELY HOLDING GROUP, GEELY AUTOMOBILE HOLDINGS LIMITED — COLLECTIVELY REFERRED TO AS "GEELY" — AND RENAULT GROUP * PLANNED ARAMCO INVESTMENT WOULD SUPPORT DEVELOPMENT OF SYNTHETIC FUEL SOLUTIONS, AND NEXT-GEN HYDROGEN TECHNOLOGIES

* NEW COMPANY AIMS TO HAVE AN ANNUAL PRODUCTION CAPABILITY OF MORE THAN FIVE MILLION INTERNAL COMBUSTION, HYBRID AND PLUG-IN HYBRID ENGINES AND TRANSMISSIONS PER YEAR Further company coverage: