Shanghai Electric Group (02727) received the arbitral award issued by the Singapore International Arbitration Centre on Arbitration II, ruling in favor and rejecting all of Oxagon's substantive claims.

Shanghai Electric Group (02727) announced that on June 30, 2026, the company received the arbitral award on Arbitration Two issued by the Singapore International Arbitration Centre, rejecting all substantive claims made by Oxagon Enterprises Limited (formerly known as Reliance UK, hereinafter referred to as "Oxagon"). The rejection is binding and the company has prevailed. The specific decisions of the arbitral award are as follows: 1. The arbitral award rejects all claims made by Oxagon, except for costs. This rejection is binding, and Oxagon may not bring similar claims against the company in the future through arbitration or litigation. 2. The rejection does not make substantive determinations on the issues of Oxagon's claims (mostly governed by English law) outside of costs, nor does it make determinations on potential contract disputes. 3. The arbitral award is issued concurrently with the termination order made under Article 32(2)(c) of the UNCITRAL Model Law on International Commercial Arbitration. The termination order officially ends the arbitral proceedings on the grounds that the arbitration process is no longer necessary or cannot continue. 4. Oxagon is ordered to immediately pay the company legal and expert fees amounting to 1.2784 million dollars. 5. The company is ordered to immediately pay Oxagon arbitral fees of 92,382.19 Singapore dollars. 6. Except for explicit provisions in the arbitral award, all other claims and requests are dismissed. As the enforcement of Arbitration One and Arbitration Two is pending, the impact on the company's current or future profits remains uncertain. The company will make accounting treatment based on the progress and outcome of the case, in accordance with relevant accounting standards and actual circumstances.