COSCO SHIPPING Specialized Carriers Co.,Ltd. announced a private placement of no more than 643,995,231 A shares for gross proceeds of not exceeding CNY 3,500,000,000 on March 29, 2023. The transaction will include participation for not more than 35 (including 35) specific investors including China COSCO SHIPPING Corporation Limited to subscribe for 50% of the number of A shares. The number of A shares issued to specific subscribers this time shall not exceed 30% of the company's total share capital before this issuance.

The pricing base date is the first day of the issuance period, and the issue price will not be lower than 80% of the company's stock trading average price in the 20 trading days before the pricing base date. The shares subscribed by China COSCO SHIPPING Corporation Limited for this issuance shall not be transferred within 18 months from the date of completion of the issuance. The shares of the company subscribed by other subscribers through this issuance shall not be transferred within 6 months from the date of completion of the issuance.

The transaction have been approved by China COSCO SHIPPING Corporation Limited and deliberated and approved at the fourth meeting of the eighth board of directors of COSCO SHIPPING Specialized Carriers Co.,Ltd. and still need to be considered and approved by the company's shareholders' meeting, reviewed and approved by the Shanghai Stock Exchange, and approved by the China Securities Regulatory Commission for registration.