Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock Code: 00517)

TERMINATION OF CONNECTED TRANSACTIONS

IN RELATION TO ACQUISITION OF TARGET ASSETS AND

ENTERING INTO NEW LEASE AGREEMENT

Reference is made to the announcements of the Company dated 21 September 2020 (the ''First Announcement'') and 21 December 2020 (the ''Update Announcement'') on the connected transactions in relation to acquisition of Target Assets and entering into New Lease Agreement. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the First Announcement and the Update Announcement.

CSITC has been recently informed by Shenzhen Haisheng that the outstanding condition precedent to Completion cannot be fulfilled by 31 March 2021. As such, a notice was given by CSITC to Shenzhen Haisheng on 30 March 2021 to terminate the Asset Acquisition Agreement in accordance with the terms of the Asset Acquisition Agreement and therefore the Acquisition Transaction will not proceed. Further, in view of the termination of the Asset Acquisition Agreement, the New Lease Agreement will not be entered into between Hainan Guosheng and CSITC.

By Order of the Board

COSCO SHIPPING International (Hong Kong) Co., Ltd.

Zhu Jianhui

Chairman and Managing Director

Hong Kong, 30 March 2021

As at the date of this announcement, the Board comprises seven directors with Mr. Zhu Jianhui1 (Chairman and Managing Director), Mr. Ma Jianhua1, Mr. Feng Boming2, Mr. Chen Dong2, Mr. Tsui Yiu Wa, Alec3, Mr. Jiang, Simon X.3 and Mr. Kwong Che Keung, Gordon3.

1

Executive Director

2

Non-executive Director

3

Independent Non-executive Director

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Cosco Shipping International (Hong Kong) Limited published this content on 30 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2021 09:46:06 UTC.