On 30 August 2022, China Communications Construction Company Limited and CCCC Haifeng entered into (1) the Product Sales Framework Agreement, pursuant to which CCCC Haifeng Group agreed to purchase and the Group agreed to sell raw materials and products during the term of such agreement; and (2) the Product Leasing Framework Agreement, pursuant to which CCCC Haifeng Group agreed to lease engineering products to the Group during the term of such agreement. Term: From 1 January 2023 to 31 December 2024. The fees to be received by the Group for sales of raw materials and products to CCCC Haifeng Group shall be agreed at arm's length negotiation between the parties in the following order: If such products are subject to government-prescribed price, their prices are determined by the parties according to government-prescribed price, which represents the price determined in accordance with the laws, regulations, decisions, orders or pricing policies of the relevant government authorities; or If such products are not subject to government-prescribed price, their prices are determined by the parties with reference to the market price, which represents the price for provision of the same or similar products by the independent third parties located in the same region or adjacent areas on normal commercial terms in the ordinary course of business; or (ii) the price for provision of the same or similar products by the independent third parties in the PRC on normal commercial terms in the ordinary course of business; or If such products are not subject to government-prescribed price and market price, their prices are determined by the parties with reference to the cost price, which represents (i) the fees incurred for provision of such products by one party; and (ii) the fees incurred for procurement of such products by one party from the third parties and additional fees incurred for transfer of such products to the other party.

The abovementioned fees to be received for the sales of raw materials and products and relevant periodic reports will be submitted to the independent non-executive Directors for their annual review on the pricing so as to ensure its fairness and reasonableness. The Directors consider such methods and procedures can ensure that the transactions will be conducted on normal commercial terms and will not prejudice the interests of the Company and its Shareholders.