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

Jan 3, 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.

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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)

INSIDE INFORMATION COMPLETION OF THE CBHB EQUITY ACQUISITION

This announcement is made by COSCO SHIPPING Development Co., Ltd. (the “ Company ”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “ SFO ”).

Reference is made to the announcement of the Company dated 11 December 2015 and the circular of the Company dated 31 December 2015 (the “ Circular ”) in relation to, among other things, acquisition of equity interests in relation with (a) container leasing business, (b) shipping-related financial service business and (c) minority financial interests. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

On 30 December 2016, the CBRC granted its approval for the acquisition of 1,161,950,000 shares in China Bohai Bank Co., Ltd.[#] (渤海銀行股份有限公司) (“ CBHB ”), a joint-stock company incorporated in the PRC with limited liability, representing 13.67% of the entire equity interest of CBHB, by China Shipping Investment Co. Ltd.[#] (中海集團投資有限公司), a limited liability company incorporated in the PRC and a wholly-owned subsidiary of the Company (the “ CBHB Equity Acquisition ”). As all the conditions precedent under the CBHB Equity Acquisition Agreement and the supplemental agreement to the CBHB Equity Acquisition Agreement have been fulfilled or waived, the CBHB Equity Acquisition has been completed on the same day.

Pursuant to the relevant accounting standards, the board of directors of the Company (the “ Board ”) anticipates that there will be a positive impact on the consolidated financial statements of the Company and its subsidiaries for the year ended 31 December 2016 as a result of the completion of the CBHB Equity Acquisition. Further information will be disclosed in the results announcement of the Company for the year ended 31 December 2016 in accordance with the relevant requirements under the Listing Rules and other applicable laws and regulations.

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Save as disclosed in this announcement, the Board confirms that it is not aware of any other inside information that needs to be disclosed under Part XIVA of the SFO. Accordingly, the Company will continue the trading of its H shares listed on The Stock Exchange of Hong Kong Limited.

Shareholders of the Company and investors should exercise caution when dealing in the securities of the Company.

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

Joint Company Secretary

Shanghai, the People’s Republic of China 3 January 2017

As at the date of this announcement, the Board 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.

• 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.”.

• For identification purpose only.

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