COSCO SHIPPING Development Co., Ltd. — Capital/Financing Update 2016

Nov 24, 2016

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

(Formerly known as 中海集裝箱運輸股份有限公司 China Shipping Container Lines Company Limited) (A joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock code: 02866)

VOLUNTARY ANNOUNCEMENT PARTICIPATION OF EXECUTIVE DIRECTORS, SUPERVISOR, SENIOR MANAGEMENT AND EMPLOYEES IN AN ASSET MANAGEMENT PLAN

This announcement is made by COSCO SHIPPING Development Co., Ltd.* (the “ Company ”) on a voluntary basis.

The Company has been informed by certain executive directors (the “ Directors ”), supervisor, senior management and employees of the Company (the “ Participants ”) that they have voluntarily invested, with their own funds, in an aggregate amount of HK$12,400,000 in an asset management plan (the “ Asset Management Plan ”), pursuant to which the Participants have subscribed to the units of the Asset Management Plan and entrusted the manager of the Asset Management Plan (the “ Manager ”) to manage the Asset Management Plan, which will invest in the H shares (the “ H Shares ”) of the Company. The lock-up period during which the Participants shall not redeem their units under the Asset Management Plan is one year.

As at the date of this announcement, the Asset Management Plan has been fully funded and has acquired 6,900,000 H Shares on the market at an average price of HK$1.749 per H Share.

The Manager shall be responsible for, among other things, the investment and re-investment of the assets under the Asset Management Plan. In addition, the Manager shall be entitled to exercise the voting rights and other relevant rights in respect of the H Shares held under the Asset Management Plan.

The Company did not participate in the Asset Management Plan, and the Asset Management Plan does not constitute a share option scheme or any type of employee benefit scheme of the Company.

By order of the board of Directors of COSCO SHIPPING Development Co., Ltd. Yu Zhen* Joint Company Secretary

Shanghai, the People’s Republic of China 24 November 2016

As at the date of this announcement, the board of Directors comprises of Ms. Sun Yueying, Mr. Wang Daxiong, Mr. Liu Chong and Mr. Xu Hui, being executive Directors, Mr. Feng Boming, Mr. Huang Jian and Mr. Chen Dong, being non-executive Directors, and Mr. Cai Hongping, Mr. Tsang Hing Lun, Ms. Hai Chi Yuet and Mr. Graeme Jack, being independent non-executive Directors.

• For identification purpose only