BAY AREA DEV(00737): The Guangzhou-Shenzhen-Zhuhai Company has entered into subsequent civil engineering construction contracts for the Shenzhen section reconstruction and expansion project of the Beijing-Hong Kong-Macao Expressway with the respective winning bidders.

BAY AREA DEV (00737) announced that, following certain public tender and bidding procedures conducted through the Guangzhou Public Resources Trading Center, on October 19, 2026, the Guangzhou-Shenzhen-Zhuhai Company (deemed a subsidiary of the Company) entered into the following Shenzhen section construction contracts (TJ1, TJ3-TJ7 sections) with the respective winning bidders: 1. Entered into the Shenzhen section construction contract (TJ1 section) with CCCC First Harbor Engineering, with a contract price of approximately RMB 1.5905 billion; 2. Entered into the Shenzhen section construction contract (TJ3 section) with CCCC Road & Bridge Construction, with a contract price of approximately RMB 783 million; 3. Entered into the Shenzhen section construction contract (TJ4 section) with China Railway Tunnel Group, with a contract price of approximately RMB 805 million; 4. Entered into the Shenzhen section construction contract (TJ5 section) with China Railway Major Bridge Engineering Group, with a contract price of approximately RMB 770.4 million; 5. Entered into the Shenzhen section construction contract (TJ6 section) with China Railway 12th Bureau Group, with a contract price of approximately RMB 1.287 billion; 6. Entered into the Shenzhen section construction contract (TJ7 section) with CCCC Second Highway Engineering, with a contract price of approximately RMB 1.4268 billion. The investment, construction, operation and maintenance of expressways is one of the Group's principal businesses. The entering into of the Shenzhen section construction contracts (TJ1, TJ3-TJ7 sections) is part of the implementation of the reconstruction and expansion project of the approved section (Shenzhen section), which will help enhance the traffic capacity and service level of the approved section (Shenzhen section), strengthen the Group's core competitiveness in the toll road industry, and is in line with the Group's development strategy. The Guangzhou-Shenzhen section of the Beijing-Hong Kong-Macao Expressway is a major expressway trunk line connecting three major Chinese cities: Guangzhou, Dongguan and Shenzhen. It has been officially open to traffic since 1997, and its traffic volume has grown rapidly, currently reaching a state of basic saturation. To alleviate traffic pressure, the reconstruction and expansion project of the approved section (Guangzhou-Dongguan section) commenced at the end of 2023. Following the approval of the reconstruction and expansion project of the approved section (Shenzhen section) by the Guangdong Provincial Development and Reform Commission in June 2025, the Guangzhou-Shenzhen-Zhuhai Company launched the reconstruction and expansion project of the approved section (Shenzhen section) at the end of 2025 and conducted certain public tender and bidding procedures through the Guangzhou Public Resources Trading Center for the civil engineering construction progress of the reconstruction and expansion project of the approved section (Shenzhen section).