Tianjin Capital Environmental Protection Group Company Limited announced that it has entered into subscription and strategic investor subscription agreements for private placement of 323,741,007 A shares at a price of CNY 5.56 per share for gross proceeds of CNY 1,799,999,998.92 on July 13, 2020. The transaction will include participation from returning investor Tianjin Municipal Investment Co., Ltd subscribing to 35,971,223 shares for CNY 199,999,999.9 and holding a stake of 42.92% post completion as compared to 50.14% before completion, new investors including Yangtze Ecology and Environment Co., Ltd. subscribing to 179,856,115 shares for CNY 999,999,999.4 amounting to 10.27% stake post completion and Three Gorges Capital Holdings Co., Ltd subscribing to 107,913,669 shares for CNY 59,999,999.6 amounting to 6.16% stake post completion with collectively all three investors subscribing to approximately 18.49% stake in the transaction. The transaction is subject to approval from relevant state-owned assets supervision and administration authority and the China Securities Regulatory Commission, and the approvals by the shareholders at the extraordinary general meeting being A shareholders’ class meeting and H shareholders’ class meeting and authorized institution of investors approving the transaction. The number of shares issued and price will be subject to certain adjustment under certain conditions. The shares to be subscribed shall not be transferred within 18 months from the date of the completion of the issuance of the transaction. Each of Three Gorges Capital Holdings Co., Ltd and Yangtze Ecological Environmental Protection Group. Co., Ltd may nominate one director candidate to the company. The transaction was approved at the 8th meeting of the 8th supervisory board of the company.