SINOPEC KANTONS (00934) signs exclusive operating agreement with Caofeidian Port Group.

SINOPEC KANTONS (00934) announced on February 12, 2026, that its wholly-owned subsidiary, E&T Crown Germany, has entered into an exclusive operational agreement with Caofeidian Port Group. Caofeidian Shi Hua will exclusively provide crude oil terminal operation services to E&T Crown Germany or its designated clients. Although the equity structure of Caofeidian Shi Hua held by E&T Crown Germany and Caofeidian Port Group remains unchanged at 90% and 10% respectively, following the conclusion of the exclusive operational agreement and a reassessment of the relationship between the Group and Caofeidian Shi Hua according to applicable accounting standards, Caofeidian Shi Hua has become an indirect non-wholly-owned subsidiary of the Company, and its financial performance will be consolidated into the Group's financial statements. While there have been no changes to the equity structure of Caofeidian Shi Hua, the exclusive operational agreement allows the Company to strengthen the operational coordination and management of Caofeidian Shi Hua's crude oil terminal business. In particular, the exclusive operational agreement gives the Company greater influence over customer resource management, crude oil unloading coordination, and operational scheduling, leading to improved overall operational efficiency, enhanced cost control, and optimized terminal resource utilization. The Board of Directors believes that these arrangements are beneficial for the long-term, stable, and effective operation of Caofeidian Shi Hua, and are in line with the overall interests of the Company and its shareholders.