COSCO SHIPPING : POSITIVE PROFIT ALERT 2021 FIRST QUARTERLY RESULTS

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中 遠 海 運 控 股 股 份 有 限 公 司

COSCO SHIPPING Holdings Co., Ltd.*

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1919)

POSITIVE PROFIT ALERT

2021 FIRST QUARTERLY RESULTS

The Board wishes to inform the Shareholders and potential investors that the Group is expected to record a net profit attributable to the Shareholders for the Reporting Period of approximately RMB15,450 million, as compared to that of approximately RMB292 million for the three months ended 31 March 2020; and the Group is expected to record a net profit (after deducting non-recurring profit and loss) attributable to the Shareholders for the Reporting Period of approximately RMB15,406 million, as compared to that of approximately RMB76 million for the three months ended 31 March 2020.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

This announcement is made by COSCO SHIPPING Holdings Co., Ltd.* (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that the Group is expected to record a net profit attributable to the Shareholders for the three months ended 31 March 2021 (the "Reporting Period") of approximately RMB15,450 million, as compared to that of approximately RMB292 million for the three months ended 31 March 2020; and the Group is expected to record a net profit (after deducting non-recurring profit and loss) attributable to the Shareholders for the Reporting Period of approximately RMB15,406 million, as compared to that of approximately RMB76 million for the three months ended 31 March 2020.

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During the Reporting Period, the container shipping market continued growing. The average value of the China Containerized Freight Index (CCFI) was 1960.99 points, representing an increase of 113.33% as compared to that of the same period of last year and an increase of 53.8% as compared to that of the fourth quarter of last year.

During the Reporting Period, the Company proactively started implementing the 14th Five-Year Plan. By adhering to the customer-oriented philosophy and through the measures such as increasing shipping capacity, securing container supplies and enhancing service quality, the Company fully committed to ensuring the global transportation services and achieved an increase in both the amount and price in respect of such services, which resulted in a greater improvement in its overall financial results for the Reporting Period as compared to that for the same period of the last year.

The Company has yet to finalise the results of the Group for the Reporting Period. The information contained in this announcement is only a preliminary estimation made by the Company based on the Accounting Standard for Business Enterprises, which has not been reviewed or audited by the auditors of the Company. Details of the financial information of the Group for the Reporting Period to be disclosed in the 2021 first quarterly report of the Company shall prevail over the information contained herein.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board

COSCO SHIPPING Holdings Co., Ltd.*

Guo Huawei

Company Secretary

Shanghai, the People's Republic of China

6 April 2021

As at the date of this announcement, the directors of the Company are Mr. XU Lirong1 (Chairman), Mr. HUANG Xiaowen1 (Vice Chairman), Mr. YANG Zhijian1, Mr. FENG Boming1, Mr. WU Dawei2, Mr. ZHOU Zhonghui2 and Mr. TEO Siong Seng2 and Prof. MA, Si Hang Frederick2.

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Executive director

Independent non-executive director

• For identification purpose only

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