COSCO SHIPPING Development Co., Ltd. — Board/Management Information 2020

Oct 12, 2020

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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中遠海運發展股份有限公司 COSCO SHIPPING Development Co., Ltd.*

(A joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 02866)

PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR AND PROPOSED APPOINTMENT AND RESIGNATION OF SUPERVISORS

PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The board (the “ Board ”) of directors (the “ Directors ”) of COSCO SHIPPING Development Co., Ltd. (the “ Company ”, together with its subsidiaries, the “ Group ”) is pleased to announce that the Board has proposed to appoint Mr. Ip Sing Chi (葉承智) (“ Mr. Ip ”) as a non-executive Director. According to the articles of association of the Company (the “ Articles of Association ”), the proposed appointment of Mr. Ip is subject to the approval by the shareholders of the Company (the “ Shareholders ”) at a general meeting of the Company. The ordinary resolution in relation to the proposed appointment of Mr. Ip will be proposed at the extraordinary general meeting of the Company to be convened at 1:30 p.m. on Thursday, 29 October 2020 (the “ EGM ”) at Level 3, Ocean Hotel Shanghai, 1171 Dong Da Ming Road, Hong Kou District, Shanghai, the People’s Republic of China.

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The biographical details of Mr. Ip are set out as follows:

Mr. Ip Sing Chi (葉承智) , aged 67, now serves as the group managing director of Hutchison Port Holdings Limited and the chairman of Yantian International Container Terminals Limited. Mr. Ip is also an executive director of Hutchison Port Holdings Management Pte. Limited (the trustee-manager of Hutchison Ports Holding Trust, listed in Singapore, stock code: NS8U), a non-executive director of Orient Overseas (International) Limited (listed in Hong Kong, stock code: 316), an independent non-executive director of Piraeus Port Authority S.A. (listed in Greece, stock code: PPA) and a non-independent non-executive director of Westports Holdings Berhad (listed in Malaysia, stock code: 5246).

Mr. Ip was the founding chairman (in 2000-2001) of the Hong Kong Container Terminal Operators Association Limited, and was a non-executive director of Tradelink Electronic Commerce Limited (listed in Hong Kong, stock code: 536). He had been an outside director of HMM Co., Ltd. (formerly known as Hyundai Merchant Marine Co., Ltd.) (listed in South Korea, stock code: 11200), an independent non-executive director of COSCO SHIPPING Ports Limited (listed in Hong Kong, stock code: 1199) from November 2012 to October 2016, and an independent non-executive director of COSCO SHIPPING Energy Transportation Co., Ltd. (listed in Hong Kong, stock code: 1138) from June 2014 to June 2020. In addition, he was a member of the Hong Kong Port Development Council from 2009 to December 2014. Mr. Ip has over 35 years of experience in the maritime industry, and holds a Bachelor of Arts degree.

Subject to the approval by the Shareholders of the proposed appointment of Mr. Ip at the EGM, Mr. Ip will enter into a service contract with the Company for a term of service commencing on the date of his appointment until the end of the term of the current session of the Board. Mr. Ip will not receive any remuneration from the Company.

Save as disclosed above, as at the date of this announcement, Mr. Ip (i) does not have any relationship with any directors, senior management, substantial or controlling shareholders of the Company; (ii) does not have any interests 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 ”); (iii) does not hold any other directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iv) does not hold any other positions with other members of the Group.

Save as disclosed above, there are no other matters that need to be brought to the attention of the Shareholders in connection with the proposed appointment of Mr. Ip and there is no information which is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).

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PROPOSED APPOINTMENT OF SUPERVISOR

The Board further announces that the supervisory committee of the Company (the “ Supervisory Committee ”) has proposed to appoint Ms. Zhu Mei (朱媚) (“ Ms. Zhu ”) as a shareholder representative supervisor of the Company (the “ Supervisor ”). According to the Articles of Association, the proposed appointment of Ms. Zhu is subject to the approval by the Shareholders at a general meeting of the Company. The ordinary resolution in relation to the proposed appointment of Ms. Zhu will be proposed at the EGM.

The biographical details of Ms. Zhu are set out as follows:

Ms. Zhu Mei (朱媚) , aged 51, currently serves as an outside director of COSCO SHIPPING (Shanghai) Co. Ltd. and COSCO SHIPPING Seafarer Management Co., Ltd. respectively. Ms. Zhu had previously worked in the general manager’s office of Shanghai Shipping (Group) Company, the transport department of China Shipping (Group) Company, China Shipping Development Co., Ltd. Oil Tanker Company and the board of director’s office of China Shipping (Group) Company.

Ms. Zhu also served as the Party Secretary and the Vice Principal of the Party School of China Shipping (Group) Company and the deputy dean of the Group Management Cadre College. Ms. Zhu was also a member of the Municipal Party Committee, a member of the Standing Committee and the deputy mayor of the Municipal Government of Lincang, Yunnan Province.

Ms. Zhu graduated from Shanghai Maritime University with a master degree. She further obtained a Master of Business Administration degree from Fudan University.

Subject to the approval of the Shareholders of the proposed appointment of Ms. Zhu at the EGM, Ms. Zhu will enter into a service contract with the Company for a term of service commencing on the date of her appointment until the end of the term of the current session of the Supervisory Committee. Ms. Zhu will not receive any remuneration from the Company.

Save as disclosed above, as at the date of this announcement, Ms. Zhu (i) does not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company; (ii) does not have any interests in the shares of the Company within the meaning of Part XV of the SFO; (iii) does not hold any other directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years; and (iv) does not hold any other positions with other members of the Group.

Save as disclosed above, there are no other matters that need to be brought to the attention of the Shareholders in connection with the proposed appointment of Ms. Zhu and there is no information which is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules.

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PROPOSED RESIGNATION OF SUPERVISOR

The Board further announces that Mr. Hao Wenyi (郝文義) (“ Mr. Hao ”) has tendered his resignation as a shareholder representative Supervisor with effect from the approval of the proposed appointment of Ms. Zhu at the EGM due to change in work arrangements.

Mr. Hao has confirmed that, as at the date of this announcement, he has no disagreement with the Board and the Supervisory Committee, and that there are no other matters in relation to his resignation that need to be brought to the attention of the Shareholders.

The Board and the Supervisory Committee would like to take this opportunity to express their sincere gratitude to Mr. Hao for his contribution to the Company during his tenure of service.

GENERAL

A circular containing, among other things, further details of the proposed appointments of Mr. Ip and Ms. Zhu, and the notice convening the EGM, will be dispatched to the Shareholders in due course.

By order of the Board COSCO SHIPPING Development Co., Ltd.* Cai Lei Joint Company Secretary

Shanghai, the People’s Republic of China 12 October 2020

As at the date of this announcement, the Board comprises Mr. Wang Daxiong, Mr. Liu Chong and Mr. Xu Hui, being executive directors of the Company, Mr. Feng Boming, Mr. Huang Jian and Mr. Liang Yanfeng, being non-executive directors of the Company, and Mr. Cai Hongping, Ms. Hai Chi Yuet, Mr. Graeme Jack, Mr. Lu Jianzhong and Ms. Zhang Weihua, being independent non-executive directors of the Company.

• The Company is a registered non-Hong Kong company as defined in the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) and it is registered under its Chinese name and under the English name “COSCO SHIPPING Development Co., Ltd.”.

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