China Oriental Group Company Limited announced that on 13 January 2023, the Company entered into the Third Renewal OSP Framework Agreement with Oriental Sheet Piling for a further term of three years commencing from 1 January 2023 and expiring on 31 December 2025. It is expected that the proposed OSP Annual Cap for the continuing connected transactions contemplated under the Third Renewal OSP Framework Agreement for each of the three years ending 31 December 2023, 2024 and 2025 will not exceed RMB 220,000,000, RMB 220,000,000 and RMB 220,000,000 respectively. The Directors (including the independent non-executive Directors) are of the view that the continuing connected transactions contemplated under the Third Renewal OSP Framework Agreement are entered into in the ordinary and usual course of business of the Group and have been negotiated on an arm's length basis between the Company and Oriental Sheet Piling, and the terms thereof are on normal commercial terms, fair and reasonable and in the interest of the Company and its Shareholders as a whole.