Phoenix Shipping independent director Wang Hui resigned for personal reasons.

Recently, the board of directors of Phoenix Shipping Co., Ltd. received a written resignation report from non-independent director Wang Hui. Wang Hui resigned from the position of director of the ninth board of directors of the company for personal reasons. His original term was until February 10, 2026, and he will not hold any position in the company after his resignation. His resignation report will take effect from the date it is delivered to the board of directors and will not result in the board of directors falling below the statutory number of members, nor will it affect the normal operation of the company. The company will promptly complete the election of a new director. As of the date of the announcement, Wang Hui does not hold any shares, has no unfulfilled commitments, and will continue to abide by the regulations on the transfer of shares by departing directors and executives. The company expresses its gratitude for his contributions during his tenure. The announcement was made on September 16, 2025.