COSCO SHIPPING Ports : Announcement |List of Directors and their Role and Function

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(Incorporated in Bermuda with limited liability)

The board of Directors (the "Board") of COSCO SHIPPING Ports Limited (the "Company") announces that with effect from 24 October 2016:

1. Mr. FENG Bo has resigned as an Executive Director of the Company due to re-designation of work;

2. Mr. WANG Wei has resigned as a Non-executive Director of the Company due to re-designation of work;

3. Mr. IP Sing Chi has resigned as an Independent Non-executive Director and a member of the Nomination Committee and the Remuneration Committee of the Company due to work commitments;

4. Mr. FENG Boming, Mr. ZHANG Wei, Mr. CHEN Dong and Mr. XU Zunwu have been appointed as Non-executive Directors of the Company; and

5. Prof. CHAN Ka Lok has been appointed as an Independent Non-executive Director and a member of the Remuneration Committee of the Company.

Mr. FENG Bo, Mr. WANG Wei and Mr. IP Sing Chi confirmed that they had no disagreement with the Board and there was no matter relating to their resignations that would need to be brought to the attention of the shareholders of the Company (the "Shareholders"). The Board would like to thank Mr. FENG Bo, Mr. WANG Wei and Mr. IP Sing Chi for their outstanding contributions to the Company during their service and welcome Mr. FENG Boming, Mr. ZHANG Wei, Mr. CHEN Dong, Mr. XU Zunwu and Prof. CHAN Ka Lok to the Board.

Financial Holding Co., Ltd. and Piraeus Port Authority S.A. (listed in Athens, Greece), all of which are subsidiaries of COSCO SHIPPING. He served as Manager of the Commercial Section of the Ministry of Trade Protection of COSCO Container Lines Company Limited ("COSCON"), the General Manager of COSCO Container Hong Kong Mercury Co., Ltd., the General Manager of the Management and Administration Department of COSCO Holdings (Hong Kong) Co., Ltd., the General Manager of COSCO International Freight (Wuhan) Co., Ltd./COSCO Logistics (Wuhan) Co., Ltd. and Supervisor of the Strategic Management Implementation Office of China Ocean Shipping (Group) Company/China COSCO Holdings Company Limited ("China COSCO", listed in Hong Kong and Shanghai), both being indirect controlling Shareholders. Mr. FENG has over 20 years of work experience in the shipping industry. Mr. FENG has extensive experience in enterprise strategy management, business management and container shipping management. He holds a Master of Business Administration degree from The University of Hong Kong. He is an economist.

Save as disclosed herein, Mr. FENG did not hold any directorships in any other listed public companies during the past three years. Mr. FENG does not hold any other positions with the Company or other members of the Company and its subsidiaries (the "Group") and does not have any other relationships with any of the other Directors, senior management of the Company, substantial Shareholders or controlling Shareholders. As at the date of this announcement, Mr. FENG does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

Pursuant to the letter of appointment entered into between the Company and Mr. FENG, Mr. FENG was appointed as a Non-executive Director of the Company for the initial period from 24 October 2016 to the conclusion of the next general meeting of the Company (the "GM"). Upon that time and subject to his re-election by the Shareholders, the term of appointment of Mr. FENG shall then be for approximately three years commencing from the date of the GM and subject to retirement by rotation and re-election in accordance with the Bye-laws of the Company. Pursuant to the letter of appointment, the Director's fee of Mr. FENG is HK$120,000 per annum (or a pro rata amount for the duration of his directorship for an incomplete year). The Director's fee of Mr. FENG is recommended by the Remuneration Committee of the Company and determined by the Board with reference to his duties and responsibilities and prevailing market conditions and subject to the approval of the Shareholders at the annual general meetings of the Company.

Save as disclosed herein, Mr. FENG has confirmed that there are no other matters that need to be brought to the attention of the Shareholders in connection with his appointment and there is no other information that should be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

Save as disclosed herein, Mr. ZHANG did not hold any directorships in any other listed public companies during the past three years. Mr. ZHANG does not hold any other positions with the Company or other members of the Group and does not have any other relationships with any of the other Directors, senior management of the Company, substantial Shareholders or controlling Shareholders. As at the date of this announcement, Mr. ZHANG does not have any interest in the shares of the Company within the meaning of Part XV of the SFO.

Pursuant to the letter of appointment entered into between the Company and Mr. ZHANG, Mr. ZHANG was appointed as a Non-executive Director of the Company for the initial period from 24 October 2016 to the conclusion of the next GM. Upon that time and subject to his re-election by the Shareholders, the term of appointment of Mr. ZHANG shall then be for approximately three years commencing from the date of the GM and subject to retirement by rotation and re-election in accordance with the Bye-laws of the Company. Pursuant to the letter of appointment, the Director's fee of Mr. ZHANG is HK$120,000 per annum (or a pro rata amount for the duration of his directorship for an incomplete year). The Director's fee of Mr. ZHANG is recommended by the Remuneration Committee of the Company and determined by the Board with reference to his duties and responsibilities and prevailing market conditions and subject to the approval of the Shareholders at the annual general meetings of the Company.

Save as disclosed herein, Mr. ZHANG has confirmed that there are no other matters that need to be brought to the attention of the Shareholders in connection with his appointment and there is no other information that should be disclosed pursuant to Rule 13.51(2) of the Listing Rules.

Save as disclosed herein, Mr. CHEN did not hold any directorships in any other listed public companies during the past three years. Mr. CHEN does not hold any other positions with the Company or other members of the Group and does not have any other relationships with any of the other Directors, senior management of the Company, substantial Shareholders or controlling Shareholders. As at the date of this announcement, Mr. CHEN does not have any interest in the shares of the Company within the meaning of Part XV of the SFO.

Pursuant to the letter of appointment entered into between the Company and Mr. CHEN, Mr. CHEN was appointed as a Non-executive Director of the Company for the initial period from 24 October 2016 to the conclusion of the next GM. Upon that time and subject to his re-election by the Shareholders, the term of appointment of Mr. CHEN shall then be for approximately three years commencing from the date of the GM and subject to retirement by rotation and re-election in accordance with the Bye-laws of the Company. Pursuant to the letter of appointment, the Director's fee of Mr. CHEN is HK$120,000 per annum (or a pro rata amount for the duration of his directorship for an incomplete year). The Director's fee of Mr. CHEN is recommended by the Remuneration Committee of the Company and determined by the Board with reference to his duties and responsibilities and prevailing market conditions and subject to the approval of the Shareholders at the annual general meetings of the Company.

Save as disclosed herein, Mr. CHEN has confirmed that there are no other matters that need to be brought to the attention of the Shareholders in connection with his appointment and there is no other information that should be disclosed pursuant to Rule 13.51(2) of the Listing Rules.

Save as disclosed herein, Mr. XU did not hold any directorships in any other listed public companies during the past three years. Mr. XU does not hold any other positions with the Company or other members of the Group and does not have any other relationships with any of the other Directors, senior management of the Company, substantial Shareholders or controlling Shareholders. As at the date of this announcement, Mr. XU does not have any interest in the shares of the Company within the meaning of Part XV of the SFO.

Pursuant to the letter of appointment entered into between the Company and Mr. XU, Mr. XU was appointed as a Non-executive Director of the Company for the initial period from 24 October 2016 to the conclusion of the next annual general meeting of the Company. Upon that time and subject to his re-election by the Shareholders, the term of appointment of Mr. XU shall then be for approximately three years commencing from the date of the annual general meeting and subject to retirement by rotation and re-election in accordance with the Bye-laws of the Company. Pursuant to the letter of appointment, the Director's fee of