COSCO SHIPPING DEVELOPMENT Orders 15 Newcastlemax Bulk Carriers

tax). These vessels are designed with conventional fuel systems but are methanol and ammonia ready, aligning with the company's strategy to support green and low-carbon shipping development. Delivery is scheduled from June to December 2030. Payment will be made in five installments per vessel, with the majority due upon delivery. The ships will be leased long-term to COSCO SHIPPING Bulk Shipping Co., Ltd's subsidiary Waifung Shipping Limited for approximately 20 years, contributing stable income and cash flow. This investment aims to enhance COSCO SHIPPING DEVELOPMENT's fleet scale and quality, strengthen its ship leasing business, and support the integration of shipping and finance. The contracts have been approved by the company's board and will require shareholder approval for the major transaction with Shanghai Waigaoqiao Shipbuilding. The transaction does not involve related-party conflicts or major asset restructuring.