BEST Inc. Announces Plan to Implement ADS Ratio Change

No fees will be charged to ADS holders in connection with the ADS Ratio Change

HANGZHOU, China, March 23, 2023 /PRNewswire/ -- BEST Inc. (NYSE:BEST) ("BEST" or the "Company"), a leading integrated smart supply chain solutions and logistics services provider in China and Southeast Asia, today announced that it plans to change the ratio of its American Depositary Shares ("ADSs") to its Class A ordinary shares (the "ADS Ratio"), par value US$0.01 per share, from the current ADS Ratio of one (1) ADS to five (5) Class A ordinary shares, to a new ADS Ratio of one (1) ADS to twenty (20) Class A ordinary shares (the "ADS Ratio Change"). The Company anticipates that the ADS Ratio Change will be effective on or about April 4, 2023 (the "Effective Date"). For BEST's ADS holders, the ADS Ratio Change will have the same effect as a one-for-four reverse ADS split.