COSCO SHIPPING Development Co., Ltd. — Capital/Financing Update 2017

Jun 2, 2017

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of COSCO SHIPPING Development Co., Ltd.

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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)

APPROVAL OF THE REVISED PROPOSED NON-PUBLIC ISSUANCE OF A SHARES AND THE COSCO SUBSCRIPTION BY SASAC

Reference is made to (1) the announcement of COSCO SHIPPING Development Co., Ltd. (the “ Company ”) dated 20 April 2017 and (2) the circular of the Company dated 19 May 2017 (the “ Circular ”) in relation to, among other things, (i) the Revised Proposed Non-public Issuance of A Shares, (ii) the COSCO Subscription, (iii) the Specific Mandate and (iv) the Application for the China Bohai Bank Loans. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

On 2 June 2017, the Company was notified by COSCO SHIPPING that it has received the approval from the SASAC dated 1 June 2017 for the Revised Proposed Non-public Issuance of A Shares and the COSCO Subscription. As such, one of the conditions precedent for the Revised Proposed Nonpublic Issuance of A Shares and the COSCO Subscription has been fulfilled.

The Revised Proposed Non-public Issuance of A Shares and the COSCO Subscription remain subject to (i) the obtaining of the approval from the Shareholders at the EGM and the Class Meetings and (ii) the obtaining of the approval from the CSRC.

The completion of the Revised Proposed Non-public Issuance of A Shares and the COSCO Subscription remains subject to the satisfaction of the other conditions. Accordingly, the Revised Proposed Non-public Issuance of A Shares and the COSCO Subscription may or may not proceed. Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board COSCO SHIPPING Development Co., Ltd. Yu Zhen Company Secretary

Shanghai, the People’s Republic of China 2 June 2017

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As at the date of this announcement, the Board comprises 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.

• The Company is a registered non-Hong Kong company as defined under 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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