On 3 March 2022, COSCO   SHIPPING Development Co., Ltd. successfully issued the first tranche of   public corporate bonds for 2022 to professional investors on the Shanghai   Stock Exchange, with an issue size of RMB1.5 billion, a maturity period of 5   years and a coupon rate of 3.50%. The subscription rate of this tranche of   corporate bonds is 3.10 times. Benefiting from the Company’s good corporate   credit, the issuance has been actively subscribed by investors, and   professional investors in the market have recognized the Company’s   comprehensive strength and development prospects.

　　The successful issuance   of the five-year corporate bonds is conducive to optimizing the debt   structure of the Company, balancing the debt duration of the Company, and   locking in the financing cost of long-term debts. The Company will further   enhance its financial management and financing capabilities, expand   diversified financing channels, seize market development opportunities,   strive to improve quality and efficiency, and seek sustainable development.