COSCO Shipping Specialized Carriers: Wholly-owned subsidiary intends to bareboat charter 6 multi-purpose heavy-lift vessels.

COSCO Shipping Specialized Carriers announced that its ninth board of directors' thirteenth meeting approved the bareboat chartering of 6 multi-purpose heavy-lift vessels of 60,000-ton class, with its wholly-owned subsidiary Xiamen COSCO Shipping Specialized Carriers Co., Ltd. as the leasing entity. The lessors are CITIC Financial Leasing, ICBC Financial Leasing, CMBC Financial Leasing, and Zheyin Financial Leasing. The total lease term is approximately 20 years, with a bareboat charter rate of approximately RMB 61,000 per day per vessel, and the annual bareboat charter payments for the 6 vessels amounting to approximately RMB 134 million. This transaction does not constitute a related-party transaction or a major asset restructuring, and no shareholder meeting approval is required.