Hutchison Port Hldg Trust : Signing of Co-management Agreement between Hutchison Port Holdings Trust and COSCO SHIPPPING Ports Limited

Hongkong International Terminals Limited

Terminal 4, Container Port Road South Kwai Chung, Hong Kong

T (852) 2619 7888 F (852) 2480 4765

[e-mail] hit.com.hk

Signing of Co‐management Agreement Between Hutchison Port Holdings Trust and COSCO SHIPPING Ports Limited (Hong Kong, 19 December 2016) Hutchison Port Holdings Trust and COSCO SHIPPING Ports Limited wish to make the announcement that Hongkong International Terminals Limited (HIT), COSCO‐HIT Terminals (Hong Kong) Limited (CHT) and Asia Container Terminals Limited (ACT) have today entered into a formal collaboration for the efficient co‐management and operation of 16 berths across Terminals 4, 6, 7, 8 and 9 (together the "Combined Terminals") at Kwai Tsing, New Territories, Hong Kong.

In a confident response to the changing dynamics of the global shipping industry, which are reflected by the emergence of new strategic alliances between shipping lines, the three companies believe that the Combined Terminals collaboration will allow for the most effective use of facilities and manpower resources. Efficiency will also be enhanced under the new set‐up as one management team will be responsible for the terminals' day‐to‐day operations.

This new strategic arrangement would create additional capacity by increasing flexibility in berth and yard planning among all three terminals. This timely improvement will allow the Combined Terminals to better accommodate the need of shipping alliances for enhanced service and increase the overall competitiveness. This forward‐looking move will help sustain Hong Kong's position as a leading transshipment hub in the region.

The revenue and expenses from the management and operation of the facilities of the Combined Terminals will be allocated among the parties by reference to the respective designed capacity of the facilities owned by each party.

HIT owns 12 berths in Terminals 4, 6, 7 and 9 while CHT and ACT own 2 berths each in Terminal 8 East and Terminal 8 West respectively.

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A member of HPH Trust

Photo caption: In the presence of Mr Eric Ip, Group Managing Director of Hutchison Port Holdings Limited, Mr Xiaowen Huang, Executive Vice President of China COSCO Shipping Corporation Limited and Mr Wei Zhang, Vice Chairman and Managing Director of COSCO SHIPPING Ports, Mr Gerry Yim, Chief Executive Officer of Hutchison Port Holdings Trust and Mr Dayu Zhang, Deputy Managing Director of COSCO SHIPPING Ports signed the Co‐Management Agreement today.

(Front, left to right) Mr. Dayu Zhang, Mr. Gerry Yim

(Back, left to right) Mr. Wei Zhang, Mr. Eric Ip, Mr. Xiaowen Huang

Hongkong International Terminals Limited (HIT)

Hongkong International Terminals Limited (HIT) is the one of the leading container terminals in Hong Kong. With a strong emphasis on productivity and efficiency, HIT is committed to the development and implementation of forward‐looking, service‐enhancing technology.

HIT is a member of HPH Trust, the world's first container port business trust listed in Singapore. HIT is also a part of Hutchison Ports' global network of port and logistics operations, and continues to have access to services and resources enjoyed by companies within the Hutchison Ports Group.

Hutchison Ports is the port and related services division of CK Hutchison Holdings Limited (CK Hutchison). Hutchison Ports is the world's leading port investor, developer and operator.

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