CSSC Hong Kong Shipping : SASAC'S APPROVAL ON THE SHARE OPTION SCHEME

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CSSC (Hong Kong) Shipping Company Limited

中國船舶（香港）航運租賃有限公司

(Incorporated in Hong Kong with limited liability)

(Stock code: 3877)

SASAC'S APPROVAL ON THE SHARE OPTION SCHEME

Reference is made to the announcement of CSSC (Hong Kong) Shipping Company Limited (the "Company") dated 25 February 2021 (the "Announcement") in relation to the proposed adoption of a share option scheme. Unless the context requires otherwise, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

The Board hereby announces that, as at the date of this announcement, the Company had

obtained the Approval on the Implementation of Share Option Scheme of CSSC (Hong Kong) Shipping Company Limited (Guo Zi Kao Fen [2021] No. 144)（關於中國船舶(香港)航運租 賃有限公司實施股票期權激勵計劃的批覆（國資考分[2021]144 號））from the SASAC, pursuant to which the implementation of the Share Option Scheme was approved in principle

by the SASAC.

The resolution in respect of the proposed adoption of the Share Option Scheme will be submitted to the extraordinary general meeting of the Company for Shareholders' consideration and approval in due course. The Company will actively promote the relevant works, implement the subsequent relevant procedures and fulfill the information disclosure obligations in a timely manner and in strict compliance with the relevant laws and regulations.

By order of the Board

CSSC (Hong Kong) Shipping Company Limited

Zhong Jian

Chairman

Hong Kong, 13 April 2021

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As at the date of this announcement, the board of directors of the Company comprises Mr. Zhong Jian and Mr. Hu Kai as executive directors, Mr. Li Wei and Mr. Zou Yuanjing as non-executive directors, and Mdm. Shing Mo Han Yvonne, Mr. Li Hongji and Mr. Wang Dennis as independent non-executive directors.

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