Binhai Investment : CONNECTED TRANSACTION SUPPLEMENTAL AGREEMENT EXTENSION OF TERM OF TRUST

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(Incorporated in Bermuda with limited liability)

(Stock Code: 2886)

CONNECTED TRANSACTION

SUPPLEMENTAL AGREEMENT

EXTENSION OF TERM OF TRUST

Reference is made to the announcement by Binhai Investment Company Limited dated 10 July 2019 (the "Announcement") in relation to the Trust Agreement entered into between Tianjin Clean Energy, a wholly-owned subsidiary of the Company, and Tianjin Trust, for the entrustment by Tianjin Clean Energy of Tianjin Trust for the management and utilization of a principal amount of RMB50 million deposited by Tianjin Clean Energy for investment in various types of assets. Unless the context requires otherwise, capitalized terms used herein shall have the same meanings as defined in the Announcement.

THE SUPPLEMENTAL AGREEMENT

On 10 October 2019, Tianjin Clean Energy and Tianjin Trust entered into a supplemental agreement (the "Supplemental Agreement") pursuant to which the end date of the term of trust under the Trust Agreement is to be extended from 10 October 2019 to 20 December 2019.

Save and except for the extension of the term of trust as described above, all other terms and conditions of the Trust Agreement will remain unchanged and in full force and effect.

REASONS FOR ENTERING INTO THE SUPPLEMENTAL AGREEMENT

In view that the Group's capital is still ample at present, and that the return from the Trust Agreement is likely to be higher than the return from other investment products, accordingly Tianjin Clean Energy entered into the Supplemental Agreement with Tianjin Trust to extend the term of trust under the Trust Agreement.

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The Directors (including the independent non-executive Directors) consider that the extension of the term of trust pursuant to the Supplemental Agreement is on normal commercial terms, fair and reasonable and in the interests of the Company and its shareholders as a whole.

By Order of the Board of

BINHAI INVESTMENT COMPANY LIMITED

Gao Liang

Executive Director

Hong Kong, 10 October 2019

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Zhang Bing Jun and Mr. Gao Liang, four non-executive Directors, namely, Mr. Wang Gang, Mr. Yu Ke Xiang, Ms. Cao Hung Mei and Ms. Peng Bo and three independent non-executive Directors, namely, Mr. Ip Shing Hing, J.P., Mr. Lau Siu Ki, Kevin and Professor Japhet Sebastian Law.

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